While the Biden administration has been discouraging oil and gas production but
this has very little to do with current prices. It takes many years from the
time a drilling permit is issued until oil flows so new drilling right now will
have no impact on the current crisis, but will impact the environment forever.
Oil exploration right now probably won’t produce a drop of gasoline before
production of gasoline powered automobiles has ended.
> From: Colleen Katsuki <mailto:coll...@shadowtracks.org>>
> Subject: [LincolnTalk] natural gas prices - the big picture
> Date: August 14, 2022 at 2:39:03 PM EDT
> To: "lincoln@lincolntalk.org <mailto:lincoln@lincolntalk.org>"
> mailto:Lincoln@lincolntalk.org>>
>
>
> To understand gas prices, you have to look at the whole world. That is
> simply amazing for me to say that! But the demand for oil and gas is
> worldwide and capitalistic. There is no world governing body to set or to
> control prices. That said, when demand exceeds supply, prices go up. The
> Biden administration has been discouraging oil and gas production in this
> country in order to promote solar and wind. If solar and wind become more
> price compatible with oil and gas, then people, being economically rational,
> will switch. One little known fact is that after fracking happened, and you
> can applaud it or hate it, the US became a huge producer of oil and gas. I
> think the US still produces more than Saudi Arabia, but I could be wrong. No
> wonder our prices were low! During that time Germany encouraged gas pipe
> lines from Russia. They thought this was a good idea. It is now seen as a
> terrible idea because Russia has cut the gas to 20% of the normal flow. The
> US is trying very hard to supply Europe, especially Germany and Italy with
> natural gas so that they do not freeze to death in the dark this winter. They
> are already starting to ration natural gas. Context is everything. If my
> prices double this winter, is that too little to pay to help Europe survive?
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