Mccain and soros worked together

[NEO]

And how much production was coming off those leases? And gas was lower at the point Obama left office than when Trump left office. The real reason for low prices was Russia exerting its influence and proving it could break opec.

Gas was lower when Trump was about to take office because it is based on futures not real time and the market knew Obama was leaving.

The issue is not what will happen but what can happen when dealing with commodities.

Also, the fact that you simply blow off that Trump leased triple what Obama did and Biden completely froze it as just a moot point shows you are heavily partisan. This is a major policy change that directly impacts production.

 

[AM64]

But those trillions in handouts were needed to save the country!!! It's totally ok

Both sides make the same claim

Nope. As NEO has said, the first "Trump handouts" were to keep the economy from collapsing during a crisis that nobody had a handle on.

 

[AM64]

And how much production was coming off those leases? And gas was lower at the point Obama left office than when Trump left office. The real reason for low prices was Russia exerting its influence and proving it could break opec.

You don't think the Russians played with prices to drive oil down to a point that there would be little desire to act on those leases, too? Actions and reactions. Dump prices to make someone back away from producing and then raise prices when you essentially have no competition. OPEC can afford to mothball; new wells and associated facilities will only see investment to proceed if the investors believe they will be profitable.

Seems this is more like Biden colluding with the Russians. Biden fixed the problem of future competition the Russians would have faced, so they can raise prices again as they wish. In the meantime OPEC is still pumping most profitably.

 

[AM64]

Gas was lower when Trump was about to take office because it is based on futures not real time and the market knew Obama was leaving.

The issue is not what will happen but what can happen when dealing with commodities.

Also, the fact that you simply blow off that Trump leased triple what Obama did and Biden completely froze it as just a moot point shows you are heavily partisan. This is a major policy change that directly impacts production.

I absolutely hated what we called Engineering Economics and the present worth / future worth stuff, but there really is a reason it's taught. If there's no current promise of a worthwhile future worth, the investment is dead. It's really the stuff monopolies can be made of if played right, and the Russians played it right first with the NG pipeline to Europe and undercutting/eliminating potential competition.