Confirmed by my Uncle who's been in the oil field business for 50+ years and is still in it at 82.
A whole lot of truth about gas prices, and to those that say: "the president doesn't set the price of gas"... pay close attention and maybe read it twice:
From a production worker in a refinery on the Gulf of Mexico:
"You've been lied to by the President and his phony cronies, but I want to set the record straight. I'm going to tell you the truth, so pay attention"....
1. There is enough recoverable crude oil within the continental US to supply current and projected future demand for 400+ years, and that's just the oil we know about. It doesn't account for future discoveries. That's a fact...
2. We do not need to import a SINGLE DROP of foreign crude oil. The domestic oil industry can easily meet, and even surpass domestic demand. We've done it before, and we can do it again. That's a fact...
3. The domestic oil industry currently cannot satisfy domestic demand due to oil drilling restrictions imposed by the federal government. That's a fact...
4. The price of EVERYTHING revolves around oil, and the law of supply vs demand dictates the price of oil. When oil is plentiful, commodities are cheap. When oil is scarce, commodities are more expensive. Right now, domestic oil is scarce, and the price of everything is high because of these restrictions imposed by the federal government. That's a fact…
5. We import foreign oil from countries that drill and produce it much cheaper than we're able to because they do not implement all of the environmental safeguards that we do. Their methods are FAR more destructive to the environment than ours are. That's a fact...
6. Every year, the federal government leases tracts of land to oil companies so they can explore on it for oil. If enough oil is found during exploration, the company can then apply for a drilling permit which allows them to drill a well. If no oil is found during exploration, or if the amount found is not enough to be profitable the lease expires without ever being drilled on. Leases that are active, but not being drilled on does NOT mean that oil companies are being lazy, or are trying to keep the oil for themselves, etc. etc. It means they've either explored the lease for oil and found nothing, or found oil but it's not enough to justify drilling for. That's a fact...
7. it’s not Russia's fault, or China's fault, or Ukraine, or India, or Venezuela, or Iran, or Bangladesh, or any other countries' fault as to why everything is so expensive right now. It's Joe Biden's fault, because he is suppressing the domestic oil industry for political gain.
EVERYTHING depends on crude oil... but you might not know that if you believe the lies that are being told about oil and the oil industry.
Copied and pasted. You can google every point yourself and it will come back factual.
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