Trump is who they voted for.

DFWRocket · Aug 6, 2025 at 9:21 AM

astros123 said: ↑

@Reeko west texas going through a major recession. Oil workers getting laid off left and right. They voted for, "drill baby drill" but instead got a pink slip LMAO.

Dumbasses deserve getting fired.
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This is not good. But it's also not as bad as it seems..yet.

Due to drilling technology, producers are getting a lot more oil per rig and therefore do not need as many rigs as they did a decade ago. Even so, this is evidence of a slowdown in oil production.

Space Ghost · Aug 6, 2025 at 9:40 AM

DFWRocket said: ↑

I paid $2.36 last December for a tank of gas. It's just dropped to $2.70 today.

Do you understand why the gas prices peaked in early 2022?

Because the Trump-OPEC deal to CUT oil production in April of 2020 was a 2-yr deal. It didn't end until April of 2022. Domestic oil production was immediately cut by 1-2 million barrels per day. So when the world began opening back up from COVID, there was no longer enough oil to match the skyrocketing demand. By the time Biden took over in 2021, we were producing 1.5 Million LESS barrels of oil per day and we couldn't produce too much more than that due to the OPEC deal. Notice that when the deal expired in April of 2022, the U.S. oil producers began ramping production back up and were back to pre-trump-OPEC deal numbers within a year, and eventually let to new annual highs for each year since. This graph is from the EIC - the deal was in place for the months in yellow.

U.S., Saudi Arabia, Russia Lead Pact for Record Cuts in Oil Output
https://www.wsj.com/articles/opec-a...broader-oil-deal-11586695794?mod=hp_lead_pos2

Next question: Do you know why trump made that deal?
Because he crashed the U.S. oil market, Oil company bankruptcies were skyrocketing, and the bigger companies saw their profits begin to decrease. So he had made this deal to save Oil Companies from the crash he caused.

"But if you had asked me in mid-summer what I expected for the rest of 2018, I would not have anticipated an oil price collapse. I largely attribute this decline to an unexpected variable in the oil markets that I call “The Trump Effect”.
..P"resident Trump also undercut oil producers by waiving sanctions on Iran. Leading up to the implementation of sanctions on Iran that would cut off their oil exports, Trump persuaded Saudi Arabia to begin pumping more oil to compensate for Iran’s pending lost exports.

Then, just before sanctions were set to go into effect, Trump announced that waivers would be given to a number of countries to allow them to continue to import Iranian oil. Among those countries was China, which ironically means U.S. oil producers lost business to Iran as a result of this decision."

https://oilprice.com/Energy/Oil-Prices/Why-Oil-Prices-Rose-And-Crashed-In-2018.html
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It was an observation. I am not sure why you guys constantly get offended over facts and feel the need to go full defensive.

now my opinion: The Biden administration was one of the shittiest administrations of my life time ... and it wasn't because of fuel prices.

DFWRocket · Aug 6, 2025 at 10:07 AM

another genius quote.

juicystream · Aug 6, 2025 at 10:15 AM

Space Ghost said: ↑

now my opinion: The Biden administration was one of the shittiest administrations of my life time ... and it wasn't because of fuel prices.
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Why?

edwardc · Aug 6, 2025 at 10:55 AM

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Trump is who they voted for.

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