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Oil Industry Insider Exposes Biden Admin’s Incompetence

The Biden administration allegedly thought oil and gas producers could drill on demand, but were “shocked to learn” that is not how oil production actually works.

What are the details?

According to the Financial Times, the White House has been pleading with oil producers to boost production as Americans face record-high gas prices.

Their demands — which sharply cut against President Joe Biden’s liberal environmental policy goals — simultaneously exposed the Biden administration’s ignorance of the complexities associated with oil production. The Financial Times claimed oil companies have not heeded the demands, but Bob McNally, the head of consultancy at Rapidan Energy, said something else is behind lagging production.

McNally, in fact, told the Financial Times the Biden administration was painfully unaware that oil production is not an overnight process.

“When the White House started calling around in a panic, they thought shale oil production could grow sharply in the near term — like in a matter of months or quarters,” McNally explained. “They were shocked to learn that that’s like asking for blood from a stone. It’s almost impossible.”

While it is not true that oil companies are price gouging (because they do not set gas prices), the Biden administration has not given them incentive to boost production.

After all, why would a company that is subject to the volatile commodities market make significant investments in oil production if the federal government repeatedly enacts policies that are hostile to oil production? These are businesses, the points of which are to make money — not throw it away.

What is Biden doing about gas prices?

The national average gas price hit $5.01 per gallon on Monday, another new record.

But what exactly the Biden administration is doing to help Americans remains unclear. Last week, Biden continued blaming his usual scapegoats — Russian President Vladimir Putin and allegedly greedy oil companies — but has yet to offer a substantive solution to the growing crisis.

The Washington Post reported Monday the Biden administration is trying to sell the American people rose-colored glasses, updating White House messaging to focus on what they claim are positive aspects of an economy that is boiling over with inflation.

“But,” the Post reported, “the messaging push has not yielded any new direct measures to lower costs.”

Meanwhile, Biden will visit Saudi Arabia next month, the Wall Street Journal reported, and address a host of issues with Crowned Prince Mohammed bin Salman, including oil.

Original Article: Oil industry insider exposes Biden admin’s incompetence, says they were ‘shocked to learn’ basic fact about production – TheBlaze

20 Comments

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  1. Why did Republicans vote against “Gas Price Gouging Bill? Could it be that they want to use that so they can blame high prices at the pump on Biden and Democrats. Now the GOP is trying a new campaign of giving out gas vouchers** to buy votes. As I see it the big Elephant in the room is Putin’s War and market greed..

    ** Source: https://www.thedailybeast.com/free-gas-cards-are-the-gops-new-campaign-gimmick-and-its-legal

    STOP THE GAS PRICE GOUGING AT THE PUMP! Please call your Representatives to get on board and work together to find solutions that help ALL Americans bring down gas prices.

      • Could the government lower gas prices? The answer is “YES” .

        May I suggest you read an article by FOX Business “How can gas prices come down?** The federal government and states could help ease pain at the pump”

        The bigger question is should Republicans work with Democrats to lower gas prices?

        If Republicans FAIL to work with Democrats then they could be blamed for the gas price increases. As Americans we ALL need to work together to find solutions and that’s the job of the House and Senate.

        A fast way to lower Prices at the pump is to suspend all Federal taxes and lower State taxes for the next 6 months and lower speed limits by 5 miles or cap them at 65mph. Allow companies to have employees continue to work at home. If you have any other ways to lower gas prices make suggestions and stop the blame game as we are all in this together.

        Source:
        https://www.foxbusiness.com/economy/gas-prices-reduce-federal-state-taxes-pain-pump-oil
        https://www.politico.com/newsletters/politico-nightly/2022/03/08/how-biden-could-lower-gas-prices-00015352

        • Not a capitalist government, That government governs best that governs least,,,,as PRESIDENT Trump proved when gasoline was under 2 bucks a gallon and were selling oip to the A-Rabs and the French were actually buying coal form us,,,,Then along came brandon and his unworkable “green” policies , Now bidengas is heading toward 6 bucks a gallon. ,,,,, But then a NWO Marxist like you could never grasp real world economics that work just fine when the government keeps it’s nose out of the private sector. We need competition, not regulation.

          Do you know why there have been not foreign terrorists attacks under brandon? Because they lack even 1/10th the ability to damage America as much as brandon and the NWO Marxist (democrat) party has done. All they have to do is sit back and watch us slip into 3d world status. Mr brandon’s business partner, Red China< is about overtake the us as the world's largest economy, thanks to the NWO Marxist enemy within.

    • Airhead Allan, get a clue: di you recall the law of supply and demand? When America, aka Bolshevik Biden, took American Oil off the Global Market, prices skyrocketed. If you have to ask why, I’m wasting my breath and time.

    • What real good is it to fine the oil companies for price gouging ( if that is really the problem). The consumer would never see any of that “fine” monies. If it is price gouging than make them lessen their profits and lowering the price at the pump. There is price gouging going on all over the country and I don’t see one thing being done about it except running of the mouth about price gouging. Back in the 70’s they put in effect Wage and Price controls and the only thing they controlled was wages, never once did the control prices of any sort.

      • My problem is the profit that has been made in the last 2 quarters. How can you have more profit if the product is costing more, you would think that due to rise in price profit would remain about same.

    • Have you read what is in the bill? What’s the bill number since you know so much about it? I’d like to see the text of it. Let me assure you that if it entails putting a cap or something on how much oil companies can charge, it will make the situation worse. Why? If the oil companies can’t make at least the same profit they did when gas was $2.49 a gallon, I guarantee you they will stop producing. After all, a business is in business to make a profit, not take a loss. They owe it to their workers, shareholders, etc. If they can’t make a profit after paying the employees, operating expenses, corporate executives, etc., they will cut their losses. Yes, oil company execs make a lot of money, but so does every other major corporation in America so let’s not paint the oil companies with the scarlet letter.

      The whole reason why we have very high energy prices (and it will continue to climb) is due to Biden’s stupid policies that forced oil companies to stop Alaska drilling, stop the XL pipeline which would’ve brought oil from Canada, incredibly irresponsible spending of over $10 trillion dollars, all of which contributed to inflation. With high fuel prices, it affected every other market because whether it’s food, household items, appliances, etc. they all are transported primarily by truck in the continental U.S. When their fuel costs went up, transportation costs went up. It’s all a domino effect. Besides all that, there was also a supply shortage not only from the U.S. having farmed out production to foreign countries but killed U.S. production of needed products like processor chips and the like.

      Even if Biden were to rescind EVERY action he took in the beginning of 2021 when he took office, it would still take over a year before we began to see some relief. After all, it took 1-1/2 years for him to destroy our economy. Recovery usually takes longer (just the way that you can break your leg in an instant, yet take many months to recover). Of course, Biden being Biden and not knowing how things work (economically and otherwise) he thinks he can order oil companies to produce more oil and gas and it’ll happen overnight. Sorry Joe, but your dementia or Alzheimer’s is showing. Of course, the fact that none of his administration’s staff made a peep about anything shows they’re as clueless as he is, or they just didn’t want to say anything at the risk of losing their cushy jobs. Thank God Jen Psaki left; I guess she got tired of lying so much because when you lie a lot, sooner or later you forget what lie you told before and you get caught down the line. TRUTH is ALWAYS the best route to go.

    • The facts are that the things that President Trump did created a better economy with lower prices for oil products and the Biden administration reversed all of the things that President Trump did, resulting in extremely high oil product prices and a disastrous economy. Doesn’t it make sense to do what made our economy better?

  2. And now, the Demented Dipschitt, will go cap-in-hand to the Camel Jockeys to beg for oil, yet still continue to lie that his Anti Fossil Fuel Policies are what started this on day one of this fustercluck regime.

    • Absolutely correct!!! The first the din-bat did was shut down the keystone pipeline. Then he went nuts destroying the fossil fuel industry. Any person that doesn’t understand what the problem really is, has to be a complete idiot, or they are blinded with these stupid ass liberal policies. We could cover this country with solar panels and wind mills and not come up with half the power this country uses. Time to get real and kick this frigging morons out of OUR government.
      Pissed-off

  3. Most intelligent Americans know its the AMERICAN COMMUNIST DEMORAT PARTY GOVERNMENT IN DC that is to blame for this mess. VOTE ALL THE DC SEWER RATS OUT OF OFFICE, RHINOS INCLUDED

  4. Why did he stop the pipeline construction from Canada? They can open a valve and over supply us with oil during an emergency like we have now. Brandon is such a loser!!!

    • ANSWER: He knows nothing, it’s his PUPPET MASTER that tell him what to say and do that is if he can remember it. I’m hoping all know who the PUPPET MASTER is. CLUE: the initials are: B.O.

  5. You all blame the Republicans for not voting on this and that, ask Afghanistan ourselves what else did they add to what ever they want together voted on.
    The Democrats are known for loading pork onto every bill put up to vote on. Make them only have the one thing and nothing else on those Bills! They don’t know what a 40 hour work week and s especially if you take away all the time they spend at the call center asking for money and votes. Make them do their freaking jobs!! THEIR ALL GUILTY! TERM LIMITS AND AGE RESTRICTIONS!

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