The assertion has been made here on LT that: “The reality is that US Presidents have very little influence over energy prices, . . .”
I refer readers to this CNBC (not a right-wing news outlet) report: “Joe Biden this year revoked a key permit needed for a U.S. stretch of the 1,200-mile project.” “The Keystone XL pipeline was expected to carry 830,000 barrels per day of Alberta oil sands crude to Nebraska,” Source: https://www.cnbc.com/2021/06/09/tc-energy-terminates-keystone-xl-pipeline-project.html To get a sense of whether 830,000 barrels per day is a little or a lot of oil, see “Biden announces huge strategic oil reserve release to curb gas prices The unprecedented release of 1 million barrels a day over the next six months from the Strategic Petroleum Reserve aims to make up for the loss of Russian oil from global markets amid the Ukraine conflict” (Emphasis added.) Source: https://www.washingtonpost.com/climate-environment/2022/03/31/strategic-petroleum-reserve-release-biden/ If the President released 1 million barrels per day and claimed it would help energy prices, and that help is limited to six months, then it is fair to suggest that 830,000 barrels per day with no time limit should help energy prices. [I hate myself for debating national politics on LT. But the facts suggest that, as long as supply and demand are relevant concepts, less oil influences energy prices, and more oil influences energy prices.] -Fred Hopengarten -- This email has been checked for viruses by Avast antivirus software. https://www.avast.com/antivirus
-- The LincolnTalk mailing list. To post, send mail to [email protected]. Search the archives at http://lincoln.2330058.n4.nabble.com/. Browse the archives at https://pairlist9.pair.net/mailman/private/lincoln/. Change your subscription settings at https://pairlist9.pair.net/mailman/listinfo/lincoln.
