Why do people blame gas prices on Presidents?

But we arent going "all green climate change" on oil and never have. The green new deal doesnt even have majority support in the Democratic party lol. Even if it did, US energy policy goes through Joe Manchin, a corrupt Senator beholden to fossil fuels!

 

I've been thinking about this a lot lately. The rocket and feather effect has been observed repeatedly over the years and is a form of asymmetrical price transmission. Retail prices go up rapidly when there's a shock to supply and fall slowly, usually over months. This feathering effect can be attributed to collusion by gas stations and a low search intensity by consumers. In other words, if we drivers took the time to shop for the cheapest gasoline between competitors the prices would return to normal faster. Unfortunately, it's typical consumer behavior to recall paying $5.00/gallon last week and think $4.89 is a bargain even though a local competitor has $4.85. So it seems like the people that are blaming Biden about high retail gas are the very people that are not doing their job to reduce it.

I guess if we want to be part of the solution, we should all use apps like Gas Buddy to find the cheapest local gas and inject some downward pressure on gas prices.

 

Last week I saw $4.60 and $4.89 within a couple of miles of each other.

 

inept joe wants a gas tax holiday, would save a whopping 18 cents per gallon, down to only 4.80 or sohttps://www.yahoo.com/news/biden-says-hes-considering-gasoline-162842534.html

 

no curtis, dont thank inept joe, afterall so many have said it was not his fault prices rose so how can he get credit if they drop, asking for a friend.

 

So are you conceding that the increase in the price of gas isn't Biden's fault?

 

as long as you refuse to give him credit for it falling, dont give him credit if food prices drop, dont give him credit for inflation dropping, in other words, admit nothing good if it happens is related to him doing anything.

 

Before Trump helped constrain the supply in '20, his first foreign trip was to Saudi Arabia in 2017. He knew that our independent energy policy would be good for us but could weaken the Saudi's geopolitically and create instability in the Middle East. He set up defense agreements with them and later peace agreements. It worked really well for all parties.

It all goes back to economic security is national security. The energy sector has such a big effect on our every day lives and it's time for somebody to step up and correct our problems. We have the resources. Presidents can help solve energy problems. Unfortunately, the Whitehouse does not appear to want to help. They want to blame it on Putin.

 

The same reason people blame Covid on the person in charge.

 

This was a pretty interesting article (if you can get around the paywall). It discussed US declining refining capacity, and the trend is down regardless of president. A new refinery hasnt been built in 50 years. Even with the shortage of refining capacity these things are shutting down. Many of them are becoming run down. Just to make needed upgrades it can be several years just to order needed materials.

Basically nobody wants to own and maintain a refinery anymore, and nobody wants one in their backyard. The Philadelphia one was shut down after a pipe blew that had gotten as thin as a credit card, and that pipe had not been inspected in 50 years.

Presidential jaw boning or incentives are not going to make much difference.

It really makes it pretty obvious that the oil/gasoline model is a dying business and not likely to attract a lot of new capital and investment. To the extent we choose to drill and extract more it would be to import. Refining capacity is declining and will continue to do so and it’s running flat out.



https://www.washingtonpost.com/business/2022/06/20/refineries-profit-gas-prices/

 

I came to this thread to post that story. the first four grafs:

 

13:44 - President Trump - you can’t blame these prices on President Obama, these prices are on you.

That’s when gas was $ 3.89 , I wonder what he saying now when it’s over $ 5.00

What are the chances Schumer updates this video this week in NYC?

 

LOL, what a doosh

 

Interesting Factcheck.org on that:

Who’s to Blame for Higher Gas Prices? - FactCheck.org

 

Well, in a way it is. But that doesn’t mean Biden was necessarily wrong on all these policies:

- Biden decided to boycott / embargo Russian oil which is probably the biggest driver at the moment
- Biden has signaled that we want to rapidly decrease our use of fuels
- Biden has had frosty relations with Saudi Arabia, contributing to SA’s hesitation to increase production.
- Biden’s large Covid stimulus increased economic demand across the board.

 

Why do presidents get cancel oil lease permits on federal lands?

 

Is FactCheck.org Reliable? - The Factual | Blog

FactCheck is run by the Annenberg Foundation...therefore it is not are reliable source for political facts. And you know that 70% or less to a supposed self proclaimed 90% accuracy is NOT good enough if you are checking for facts.

The president sets the national policies that his administration carries out. The EPA being one of several of them...



Liberal Programs

Despite the Annenbergs’ significant ties to the Republican Party, with Walter serving as an Ambassador under President Richard Nixon and Leonore being appointed Chief of Protocol at the State Department by President Ronald Reagan,[6] the Annenberg Foundation has a history of affiliations with liberal causes. [7] The Annenberg Foundation regularly donates for left of center organizations and causes.


Annenberg Foundation

 

Even Karine Jean-Pierre has said the President is responsible for increasing gas prices in this country.

 

Especially this one.
Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources
Oil Nations, Prodded by Trump, Reach Deal to Slash Production (Published 2020)