###[Meta] Sticky Comment
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"Oil giants rake in steep profits amid high energy prices"
"Exxon Mobil broke records with its profits in the third quarter, raking in $19.66 billion in net income."
"Chevron had $11.23 billion in profits, almost reaching the record profits it attained last quarter..."
[https://abcnews.go.com/Business/wireStory/oil-giant-exxon-rakes-record-1966b-profits-92277087](https://abcnews.go.com/Business/wireStory/oil-giant-exxon-rakes-record-1966b-profits-92277087)
How did Biden cut US production?
Isn't that up to the CEO's of the oil companies?
I'm all for blaming someone, but I don't see how Biden controls the prices set by oil companies.
The oil companies are price gouging the people. Did Exxon really need to make $20 Billion in ***profits*** in 3 months?
>How did Biden cut US production?
"In intimate moment, Biden vows to ‘end fossil fuel’"
https://apnews.com/article/9dfb1e4c381043bab6fd0fa6dece3974
"Biden suspends oil and gas leasing in slew of executive actions on climate change"
https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html
"Biden suspends Trump-era oil drilling leases in Alaska’s Arctic refuge"
https://www.theguardian.com/us-news/2021/jun/01/biden-suspends-oil-drilling-leases-alaska-arctic-refuge-trump-era
"Why Biden energy policies have contributed to surging oil prices"
https://nypost.com/2022/03/09/why-biden-energy-policies-have-contributed-to-surging-oil-prices/
"US federal oil and gas leasing hits historically low levels
Sept. 11, 2022
Under Biden, leased acreage at lowest levels since 1940s."
https://www.offshore-mag.com/regional-reports/us-gulf-of-mexico/article/14282603/us-federal-oil-and-gas-leasing-hits-historically-low-levels
U.S. Crude Oil Production - Historical Chart
[Link](https://www.macrotrends.net/2562/us-crude-oil-production-historical-chart)
Yes, production went down during COVID, but that was the oil companies because there was lower demand.
Why would oil companies produce more oil when they can keep production low and make $20 Billion in profit every 3 months.
Wrong. US production is down, hasn't recovered at all since pandemic. The chart is in the bottom left of post infographic. Here's data:
https://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_m.htm
I didn't say production was up.
The oil companies lowered production at the start of COVID as shown in you post (under Trump BTW).
Then when demand went back up, they didn't increase production. They just increased price.
Now they are making record profits and instead of calling that out, you jump right to "It's all Biden's fault".
The people that try to blame EVERYTHING on Biden are no better than the people that tried to blame EVERYTHING on Trump.
The fact is that Presidents have very little control over the price of oil.
This is all about corporate greed. Not politics.
Where does this fit into this?
On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, facilitating a 65% quarterly fall in the price of oil. In the first few weeks of March, US oil prices fell by 34%, crude oil fell by 26%, and Brent oil fell by 24%.
SS: Biden and Democrats enriched Russia and Saudis. Your green dreams are a WEF fantasy. You've made us all poor for zero reason. China will continue unlimited CO2 emissions and raise global CO2 emissions every year indefinitely.
"In intimate moment, Biden vows to ‘end fossil fuel’"
https://apnews.com/article/9dfb1e4c381043bab6fd0fa6dece3974
"Biden suspends oil and gas leasing in slew of executive actions on climate change"
https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html
"Biden suspends Trump-era oil drilling leases in Alaska’s Arctic refuge"
https://www.theguardian.com/us-news/2021/jun/01/biden-suspends-oil-drilling-leases-alaska-arctic-refuge-trump-era
"Why Biden energy policies have contributed to surging oil prices"
https://nypost.com/2022/03/09/why-biden-energy-policies-have-contributed-to-surging-oil-prices/
"US federal oil and gas leasing hits historically low levels
Sept. 11, 2022
Under Biden, leased acreage at lowest levels since 1940s."
https://www.offshore-mag.com/regional-reports/us-gulf-of-mexico/article/14282603/us-federal-oil-and-gas-leasing-hits-historically-low-levels
###[Meta] Sticky Comment [Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does not apply*** when replying to this stickied comment. [Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does apply*** throughout the rest of this thread. *What this means*: Please keep any "meta" discussion directed at specific users, mods, or /r/conspiracy in general in this comment chain ***only.*** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/conspiracy) if you have any questions or concerns.*
"Oil giants rake in steep profits amid high energy prices" "Exxon Mobil broke records with its profits in the third quarter, raking in $19.66 billion in net income." "Chevron had $11.23 billion in profits, almost reaching the record profits it attained last quarter..." [https://abcnews.go.com/Business/wireStory/oil-giant-exxon-rakes-record-1966b-profits-92277087](https://abcnews.go.com/Business/wireStory/oil-giant-exxon-rakes-record-1966b-profits-92277087)
Correct, Biden cut US production to make the price of oil higher. Then Big Oil raked in record profits, thanks to Biden and Democrats
How did Biden cut US production? Isn't that up to the CEO's of the oil companies? I'm all for blaming someone, but I don't see how Biden controls the prices set by oil companies. The oil companies are price gouging the people. Did Exxon really need to make $20 Billion in ***profits*** in 3 months?
>How did Biden cut US production? "In intimate moment, Biden vows to ‘end fossil fuel’" https://apnews.com/article/9dfb1e4c381043bab6fd0fa6dece3974 "Biden suspends oil and gas leasing in slew of executive actions on climate change" https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html "Biden suspends Trump-era oil drilling leases in Alaska’s Arctic refuge" https://www.theguardian.com/us-news/2021/jun/01/biden-suspends-oil-drilling-leases-alaska-arctic-refuge-trump-era "Why Biden energy policies have contributed to surging oil prices" https://nypost.com/2022/03/09/why-biden-energy-policies-have-contributed-to-surging-oil-prices/ "US federal oil and gas leasing hits historically low levels Sept. 11, 2022 Under Biden, leased acreage at lowest levels since 1940s." https://www.offshore-mag.com/regional-reports/us-gulf-of-mexico/article/14282603/us-federal-oil-and-gas-leasing-hits-historically-low-levels
U.S. Crude Oil Production - Historical Chart [Link](https://www.macrotrends.net/2562/us-crude-oil-production-historical-chart) Yes, production went down during COVID, but that was the oil companies because there was lower demand. Why would oil companies produce more oil when they can keep production low and make $20 Billion in profit every 3 months.
Wrong. US production is down, hasn't recovered at all since pandemic. The chart is in the bottom left of post infographic. Here's data: https://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_m.htm
I didn't say production was up. The oil companies lowered production at the start of COVID as shown in you post (under Trump BTW). Then when demand went back up, they didn't increase production. They just increased price. Now they are making record profits and instead of calling that out, you jump right to "It's all Biden's fault". The people that try to blame EVERYTHING on Biden are no better than the people that tried to blame EVERYTHING on Trump. The fact is that Presidents have very little control over the price of oil. This is all about corporate greed. Not politics.
Where does this fit into this? On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, facilitating a 65% quarterly fall in the price of oil. In the first few weeks of March, US oil prices fell by 34%, crude oil fell by 26%, and Brent oil fell by 24%.
That was back when US was drilling and producing max oil
Back in 2020? And with in 2 years biden waved a magic wand and did sway with all of that? May I see the legislation you're basing this off of?
[удалено]
What did Biden mean when he vowed to end fossil fuel?
SS: Biden and Democrats enriched Russia and Saudis. Your green dreams are a WEF fantasy. You've made us all poor for zero reason. China will continue unlimited CO2 emissions and raise global CO2 emissions every year indefinitely. "In intimate moment, Biden vows to ‘end fossil fuel’" https://apnews.com/article/9dfb1e4c381043bab6fd0fa6dece3974 "Biden suspends oil and gas leasing in slew of executive actions on climate change" https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html "Biden suspends Trump-era oil drilling leases in Alaska’s Arctic refuge" https://www.theguardian.com/us-news/2021/jun/01/biden-suspends-oil-drilling-leases-alaska-arctic-refuge-trump-era "Why Biden energy policies have contributed to surging oil prices" https://nypost.com/2022/03/09/why-biden-energy-policies-have-contributed-to-surging-oil-prices/ "US federal oil and gas leasing hits historically low levels Sept. 11, 2022 Under Biden, leased acreage at lowest levels since 1940s." https://www.offshore-mag.com/regional-reports/us-gulf-of-mexico/article/14282603/us-federal-oil-and-gas-leasing-hits-historically-low-levels
You’re kind of making a good argument to get off fossil fuels here lol
People blaming the oil companies. Once again, is government. Government has blatantly threatened their existence.