It’s a political joke with little basis in fact and a coping mechanism to deal with high gas prices

If you’ve pumped gas anytime in 2021 you’ve probably noticed how much more you’re paying compared to last year.

And a few of you’ve might see a funny little sticker of Joe Biden placed on gas pumps, Biden often pointing at the price of gas or your total.

The two trends, if you haven’t figured it out, are related, but it’s not what you think.

Here’s an example below.

Republicans seem to get a kick out of it, too.

It’s popular, as of late, to blame Joe Biden for everything, whether it’s related to COVID, inflation, supply chain issues, and now, the rising price of gas.

During his Presidential run a key party line issue Biden promised to reverse was Trump’s earlier reversal of Obama not approving a permit for the Keystone Pipeline XL.

Trump is a supporter of our nation’s fossil fuel and coal industry and, despite opposition from Native American Tribes, which the pipeline would run through their native lands posing localized environmental hazards and health risks if issues arise, Trump sold the promise thousands of new jobs and a decreased dependence on foreign oil.

Now that gas prices are up, Americans are correlating (incorrectly) the two. If we had the Keystone Pipeline XL we, somehow, wouldn’t have high gas prices.

Thanks a lot Biden.

But as Mark Finley, an energy markets analyst for 35 years and a fellow for Rice University’s Center for Energy studies, points out in his article with USA Today’s fact checkers.

The primary reason for this drop in crude oil prices was the pandemic. The pandemic drove the world’s oil market to become massively oversupplied, inventory dramatically increased and prices collapsed

In response to the low demand, major oil-producing countries cut down on their own oil production.

But the cut meant oil producers weren’t ready to meet the demand for crude oil once it renewed this year thanks to easing of COVID-19-related restrictions.

Now that increased demand is up thanks to easing of COVID-19 lockdown restrictions, suppliers are racing to meet demand and the United States is dipping into its oil reserves, both raising the price for a barrel of crude oil and, as a result, the price of gas.

Price of gas and oil from 2011-2021

“But, we would’ve had a cheaper supply of readily available gas if we had the Keystone Pipeline XL!” The sticker placers and Facebook commenters would say.

But would we?

It took two years to build Phase 1 of the Keystone Pipeline. How would a pipeline extension, not even built and in operation, lower gas prices today?

Regarding Bidens other oil-related actions taken by his administration, it’s true they will affect “the outlook for fossil fuel energies” but that’s a long-term effect we have yet to see.

Blaming Biden, by cheekily placing stickers on gas pumps, isn’t really doing anything.

It is, however, pointing out that you know little about the simple concept of supply and demand.

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11 COMMENTS

  1. The Biden affect is in fact happening now. People are questioning why oil companies are not producing more oil to increase supply. After this engineered shutdown (more popularly called a pandemic) the oil companies had to shut down much of their infrastructure. Knowing what Biden and the greenies are about to put in place, they are too gun shy to ramp up production again, thus less supply to meet the demand. So it is totally disingenuous to say Biden has nothing to do with it. The proof is to gat Trump back in office. Bad tweets may get a few people upset, but at least our cost of living will be “livable” and not like a population reduction scheme.

  2. Compared to last year? How about compared to the last 21 years lol talk about disingenuous. I’m not even a republican and even I can see how one sided this liberal Democrat “article” is. Specifically not explaining the actual facts. God you ppl hate trump so much you’ll root for anyone else no matter how bad they are. This guy is ruining the country and real Americans can see it! Now go call someone racist for not wanting to wear a mask. Pathetic!

  3. “It is, however, pointing out that you no little about the simple concept of supply and demand.” You KNOW little about English.

  4. I think you are the only person not able to add 2 and 2 Biden killed the pipeline gas goes up
    gas goes up everything that gets delivered,food lumber,and just about everything goes up
    wake up.

  5. If you look at the graph the writer presented, the lowest gas prices are when trump was in office. The whole time, not just during the “Plandemic.” EXCELLENT ARGUEMENT!

  6. The supposed Pandemic as you pointed out is driving the prices up. Biden and his ilk are stoking those fears, shutting business down, creating mandates and much more foolishness. Based on your own assessment and in light of the above, Biden and his ilk are absolutely responsible for these high gas prices.

  7. I love it when any person on this planet is willing to put out there in the public how utterly ignorant they are by writing an article blatantly pointing it out. Typically, it is every member of the big news organizations and the liberal/socialist groups who so it. The author of this article/propaganda should be proud of attempting to preach the party line. Good job mate…Go pick up your ruble for payment.

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