Would the sale help gas prices right now? It might, since it would show positive movement in the commodities market. Or, it might not make any difference for a while. Regardless, this shows that the Let’s Go Brandon admin couldn’t care less about the pain at the pump American citizens are experiencing. What’s the highest price you’ve seen? There’s a station out in Knightdale right near I540 and Knightdale Blvd that was at $4.25 yesterday. It was also the first one I saw that hit $4.19 during the last surge. That was as high as it got. Things are getting worse
Biden admin cancels massive oil and gas lease sale amid record-high gas prices
The Biden administration canceled one of the most high-profile oil and gas lease sales pending before the Department of the Interior Wednesday, as Americans face record-high prices at the pump, according to AAA.
The DOI halted the potential to drill for oil in over 1 million acres in Alaska’s Cook Inlet, along with two lease sales in the Gulf of Mexico. The move comes as Biden has taken a few actions to combat high gas prices, despite his administration’s generally hostile approach to the oil industry.
A DOI spokesperson cited a “lack of industry interest in leasing in the area” for the decision “not to move forward” with the Cook Inlet lease sale, CBS News reported. The spokesperson also said the department canceled the Gulf of Mexico leases – lease 259 and lease 261 – due to “conflicting court rulings that impacted work on these proposed lease sales.”
Federal law requires DOI to stick to a five-year leasing plan for auctioning offshore leases. The department had until the end fo the current five-year plan – due to expire on June 30 – to complete the sales. (snip)
Average gas prices in the U.S. have reached new record-highs in recent days, according to AAA’s gas price calculator. The national average cost of a regular gas of gasoline hit $4.374 on Tuesday, a new record, and $4.404 on Wednesday, another record.
Some of the places are not the best for exploration, very remote and hard to get too, but, having the lease auction would signal to the market that new wells will be drilled, which is what those playing the market want to see. Biden doesn’t care. He’s not paying for his travel out of his own pocket. He’s fine with all the gas used to take a helicopter to Andrews AFB, jump on Air Force 1, fly somewhere (with the backup jumbo jet and some fighter jets for protection), then jump in a limo with 17 or so chase vehicles. So he can
He's lost it.
Biden starts SCREAMING about food shortages… which are currently happening under his administration
— Kambree (@KamVTV) May 11, 2022
More on that here. There’s just pain all around
(Breitbart) President Joe Biden is failing to address the acute shortage of baby formula across the country, which is resulting in panic for mothers, for whom formula is a necessary supplement or substitute for breast milk.
The New York Times reported Tuesday: “A Baby Formula Shortage Leaves Desperate Parents Searching for Food.” A headline once impossible in America.
On Wednesday, incoming press secretary Karine Jean-Pierre was asked who at the White House was “running point” on the baby shortage. She had no idea.
All you Biden voters, you happy now? Don’t complain. This is your fault. And you can bet the ranch that Brandon will head to Camp David or his house in Delaware Friday.
Mx Teach whines: All you Biden voters, you happy now?
Delighted for every ballot I cast for President Biden! Twice in AZ, once each in GA, PA and WI, threee times in MI! Didn’t waste my vote here in backward MO!
Let’s see, inflation at 8.3%, and real wages falling due to inflation, but for someone like Mr Dowd, who has told us that he is very well-to-do, I guess that doesn’t really matter that much. At least we got rid of all of those mean tweets, right?
That people less fortunate than Mr Dowd are suffering economically, well that has never really mattered to the more well-off liberals.
Mx Dana reverts to whining about ex-prez mean tweets.
Connunists such as Mx Dana pretend to care about the working class when it suits their political caterwauling.
Mx Dana ignores that it’s the liberals who want to change the policies that reward the rich at the expense of the labor. Connunists oppose minimum wages, labor unions, tax increases on the wealthy (and tax cuts for the working class), universal health insurance, public education, Social Security, public transportation – actually connunists oppose public anything, except public hangings of women who get an abortion. Connies support corporations in whatever they do – since corporations are people, my friend.
Connunists support their autocratic compatriot invading free Ukraine, and would have looked the other way.
We pay our taxes and do not complain that the likes of Mx Dana et al collect Social Security and Medicare, drive on roads, breathe clean air and drink clean water that we support. You’re welcome.
The esteemed Mr Teach asked:
What’s the highest price you’ve seen? There’s a station out in Knightdale right near I540 and Knightdale Blvd that was at $4.25 yesterday. It was also the first one I saw that hit $4.19 during the last surge. That was as high as it got. Things are getting worse
At the closest station to me, regular gasoline was posted at $4.279 per gallon.
Contrary to Mx Teach’s rant, canceling the sale of leases has absolutely no effect on gas prices.
It’s interesting that connunist cultists never object to the massive profits oil companies are making today. Do connunists feel the US should buy oil from Russia to lower gas prices? Maybe DonJon tRumPutin can get his murderous buddies, the Saudis, to produce more oil.
Texas produces 45% of all American oil!! Are gas prices ridiculously low in Texas? $3.89 – $4.59. What? How can that be? And hardly any of the drilling is on regulated federal lands! It’s almost as oil is global commodity. Mx Teach’s fairy tale that approving the leases would have “fooled” global markets is juvenile (aka conservative fairy dust).
The “law” of supply and demand only means when demand goes up (or supply shrinks) suppliers can raise their prices!! Economists like to invent “laws” to make economics more scientificky. A woman, with her kids dying of thirst, will give all her money to save her children! And a water seller will sell it to the highest bidder! Capitalism 101. Let’s see if the prices of powdered baby formula go up.
Of course the prices of baby formula will go up or only the first come (with money) will be the ones served and they will buy it all making the shortage more acute. Rising prices is how the market works to counteract the fall of supply. Or the only people to get the commodity will be the rich guys like QdOwd.
Nah. Conservative grifter business-types have already bought up all the formula and will sell it to the highest bidder (but at a profit) who will sell to desperate families or to another greedy wholesaler. The working poor and impoverished will be forced to make do, as always.
Unfettered capitalism is a cruel beast, devouring the poor and the young.
Do you ever wonder why the powerless and poor sometimes rebel? It often occurs when inequality between the rich and poor becomes intolerable and the working class has a hard time getting by even with two incomes.
Contrary to Jeff’s opinion, FJB and the Dems have increased the price of oil. If you can’t figure this then it does zero good to lay it out. Stolen elections have consequences and we are seeing the destruction of our country secondary tp FJB and the Dems.
Contrary to Mx Teach’s rant, canceling the sale of leases has absolutely no effect on gas prices.
Look up “futures” on any investment website.
Jeffty, it’s quicker and easier for you to say “I don’t understand economics!”. Try to ne concise.
Tells you all you need to know. Expensive energy means expensive everything else.