Wow. People, you have the greatest research tool at your fingers, but you refuse to use it
The oil under the united states is almost all light oul. Light oil is used to make plastics. Tell me how a drop in the price of barbie dolls is going help with heating the north east.
I am taking almost every poster here to task for thinking light oil has ANYTHING WHATSOEVER to do with gasoline or cooking oil or heating oil!
The refineries in the US are made for HEAVY OIL, NOT LIGHT OIL!! Thats because it is far cheaper to buy imported HEAVY OIL and refine it than to build a refinery to use LIGHT OIL!
This has been a problem since the eighties, through both dem and rep presidents. And every argument used against Biden now are word for word the same argument used against Reagan and Bush.
I repeat:. THE OIL UNDER THE UNITED STATES IS LIGHT OIL. THERE ARE NO REFINERIES IN THE UNITED STATES THAT CAN REFINE LIGHT OIL INTO GASOLINE OR COOKING OR HEATING OIL! THE LIGHT OIL THAT IS USED IN THE UNITED STATES IS USED IN THE MAKING OF PLASTICS OR SOLD TO ASIAN COUNTRIES THAT HAVE REFINERIES FOR LIGHT OIL!
THIRD TIME:. THE OIL PRODUCED IN THE UNITED STATES IS LIGHT OIL. THE UNITED STATES DOES NOT HAVE ANY REFINERIES THAT CAN CONVERT LIGHT OIL TO GASOLINE OR COOKING OIL OR HEATING OIL!
This has been like this for 70 years. It is not a sudden issue that just popped up in the last two years. Politicians on both sides are fine with this because every ten years or so they can bash the other party over high gasoline prices.
The true cause over oil problems in the US is the citizen who doesn’t remember the same thing happening over and over and over and who does not demand from their government that light oil refineries be built in the US. Because as soon as gas prices fall like they will again, this becomes a non issue, so no light oil refineries will be built, and ten years from now the same issue will pop up again and the same arguments and blah blah blah.
And everytime this happens oil company revenues sky rocket so they are fine with congressional investigations that dont do anything.
Oil shortage winners are oil companies who charge more and make record profits and politicians who use these shortages to win reelections. Oil shortage losers are american citizens who cant afford gasoline cost increases. But these same citizens are the ones who do not demand refinery changes when gas prices drop.
And for the people here who are simply restating the false information they hear from their favorite politicians on BOTH sides - listen to the end of the song wont get fooled again. The new boss is the same as the old boss because of your foolishness.