Quote:
Originally Posted by omahacolt
thats what you get for voting for biden
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No US president can have complete control oil prices.
1. Shutting off oil imports from Russia is a world wide effort, which is painful at the pump, but is a better option than sending troops to the Ukraine. Pure supply/demand problem. Oh, and the lack of grain being harvested in the Ukraine, food costs are going up and in certain regions of the planet there is a serious food shortage.
2. Oil companies have shuttered 3-4 oil refiners during covid. Less people driving, less gas produced. Now, the oil bosses like high prices, and they are not in a hurry to start them back up.
3. More oil wells. It takes months to start drilling and get more oil out of the ground. Sounds good, but their is still the lack of refineries to produce gas.
All of the above is outside of the powers of the president.
Biden has NOT been perfect. The slow reaction to the economy struggles is on his admin.