What do you blame for the high gas prices in the U.S.?

  1. I choose to specifically blame the person at each individual gas station that pushes the buttons to change the prices.

  2. Right? Based on some of the most highly upvoted answers, reddit does not have a fucking clue how commodity markets work.

  3. I mean can you really blame the average person for not having a working understanding of the oil market? Its easy to blame the president or putin, which is why must people do so. All people see are rising gas prices.

  4. As was wisely stated in No Country For Old Men it’s “the dismal tide” and “It’s never the one thing”.

  5. I do it too. It's weird to think that last year wasn't 2020. But it wasn't. Last year wasn't 2020, it was 2021. Oil went negative in 2020. It resulted in a global surplus of 1.6B barrels of oil that year which is the highest amount of surplus oil ever recorded.

  6. Thank you! People seem to totally forget oil was in the negative in the last couple years. Most of these things don’t happen overnight and are the impact of economic factors from months or years before.

  7. Definitely this. Lots of companies slammed on the brakes on new oil construction projects in 2020 (and existing facilities). Now they're starting them up again. It doesn't happen instantaneously.

  8. Yeah, the idiots who are all “it’s Biden’s fault!” somehow have zero clue that this is not a national issue, it’s an international issue and it’s a long-term result. It’s not like Biden was sworn in and said, “let’s raise gas prices!”

  9. I live in oil field territory. Lots of oil companies closed down and laid off workers in 2020. They're slowly building back up, but not fast enough for job or oil demands.

  10. Last year I got caught at work saying "its not too expired it says Aug 2020." people had to tell me "it's Sept 2021 right now".

  11. It's not just in the U.S, the price of petrol and diesel is going up everywhere. In the U.K. petrol is at £1.60/L in some places

  12. One of the things that stood out to me when I went to florida was how cheap the petrol was there! And the Americans complain about it all the time, just buy cars with smaller engines

  13. Economics 101, supply and demand, disagrees with this. But yeah fuck the Amish. Not like they're gonna read this on their rotary phones or whatever they have.

  14. In addition the world is opening up restrictions from Covid. Everyone is driving more. People are going back to work. Supply chain issues are still being worked out. There isn’t a simple answer to why the prices are rising.

  15. With all due respect, the little sticker someone placed on the pump told me that Joe Biden is, in fact, responsible. He was pointing at the price, clearly saying - and I quote - "I Did That." Am I to believe these well thought out and researched stickers are false?!?

  16. Gas prices were rising even before then, this only exacerbated it. Before the war was already paying $1 more a gallon. Now over $2 more.

  17. OPEC (and really that means Saudi Arabia) sets the price of oil. Last week, in a show of support for Russia, OPEC decided against significantly increasing oil output. This was essentially a decision to let oil prices drastically increase in order to put pressure on the West for their support of Ukraine.

  18. As a net exporter of Oil, our domestic prices shouldn't change from the crisis of a country that only accounts for 3% of our supply chain. But try telling that to greedy CEOs of Oil Companies.

  19. me excited to try my local public transit system - only to see it would take me 1.5hrs to get somewhere which would take me 20-30min to drive. not what I’d call “rapid”. I so wish we had better public transit

  20. Futures traders, commodity traders, oil producers, oil refiners, and all of them benefit if prices get cranked during Democratic presidential administrations which usher in Republican ones which reward what they just did financially.

  21. Yep. Greedy governments wanting to seize other countries, greedy state officials banning energy independence for cuts from oil tycoons, greedy populations for waning free money to be printed that their kids have to pay off. It’s all greed.

  22. Don’t try using facts & logic, this is Reddit. There has to be a conspiracy involving greedy CEO’s and an overall collapse of the American way of life.

  23. Show me the large, sudden increase in demand and/or reduction in supply that let to the current large, sudden spike in price. Bonus points: Show me the same for the 2007 spike.

  24. ”High gas prices” what do you have, $4/gallon? Pfft, rookie numbers… Welcome to Sweden, where we fuel up at around $7.7/gallon now :3

  25. silly answers, smart answers and everything in between is why I love Reddit much more than Instagram or Facebook

  26. According to the email forwarded from Grandpa's AOL account, Biden did this. He shut down oil production in the USA. Nevermind that the USA is one of the top oil producers in the world- Biden turned it all off, and he did it so invisibly, that nobody has evidence of his dastardly crime.

  27. A general societal failure. People seem to want gas guzzler cars and there's some weird mass-psychosis about gas prices. They want to buy big tank-like SUVs. And then they complain about the gas prices.

  28. I blame America’s over dependency on cars which were originally supposed to be a luxury item. Decent quality public transport shouldn’t be a city thing.

  29. Inevitably, public transport will remain a city thing because it's not a cost effective option in rural areas.

  30. While it’s true that Russian oil is only 8% of imports to the US, its a global commodity, not an exclusively American one. 5 to 10 million barrels per day are coming off the global market. Places that were buying a larger quantity of Russian oil are scrambling to replace it, driving up prices everywhere. U.S. producers have the option to export their oil, so if prices are higher elsewhere, they’re going to sell it elsewhere unless U.S. prices come up to match, which is basically what is happening now.

  31. Consumer surplus based on paranoia and pandemonium. Right now the consumer surplus is ridiculously high so oil companies can essentially price gouge oil and nobody will think anything of it because Russian oil go brrr. However in the USA only 8% of the oil comes from Russia. So logically gas prices should increase 23% with an 8% decrease in supply effective not even immediately we still have the same amount of gas and oil but prices are still going up around 23%. Something seems odd about this the numbers don’t make sense to me.

  32. Corporate greed plain and simple. When Big Oil releases their quarterly earnings you will see record profits across the board.

  33. I'd blame it on Russia and Inflation but in all honesty we have to find a better solution to fuel than 100 million year old dinosaur sludge that's probably gonna run out soon.

  34. I think your fourth point is a huge factor. Oil companies decreased production when everybody started working from home and have not increased it as far as I’m aware, even though a lot of people are back to work and traveling. I do know they have authorization from the government to start drilling in new locations to lower the price of oil but have chosen not to do so yet. They’ve had this authorization for a long time to not like they’re waiting on the government in the US.

  35. There's no way it's the CEO thing. We consume 123.73 billion gallons of motor fuel each year as a country. Even if they gave their top 100 people $50M salaries each, that works out to 4 cents on each gallon, or around 1% of the cost of fuel at $4/gal.

  36. It seems that every time there's any kind of crisis in the world, "BIG OIL" uses it as an excuse to gouge consumers.

  37. US is producing more oil now than in Trump's first year. And will be producing even more by the end of this year.

  38. I still don't understand why Biden stop new drilling on public lands. We are moving towards renewable energy anyways and stopping domestic production right now just makes us that much more reliant on Saudi and Russian oil. Just seems like something meant as a symbol and damn the consequences

  39. Oil production isn’t something that can be increased or decreased at the drop of a hat. Oil prices actually went negative during the height of global COVID lockdowns while oil producers were still trying to wind down production. Then lockdowns generally ended and demand bounced back faster than the oil producers could keep up. Thing is, they made a decision to keep supply limited despite record recent demand, ostensibly out of “caution” though I suspect it has more to do with profits. Also the whole Russia/Ukraine thing didn’t help at all.

  40. A decrease in supply from Russia because Putin is a fuckhead, mixed with greed from oil companies who are also fuckheads. So I blame the fuckheads.

  41. I personally blame corporate greed. We imported less that 1% of our oil from Russia and now they are using the conflict as an excuse to jack up prices.

  42. The lack of renewable resources to run electric vehicles. How much do you think they be charging t for gas if renewables and electric vehicles were dominant. I think probably they see there's no light at the end of their tunnel and they're gobbling up what they can for now. Just look what they did to Texas it's almost textbook with the tobacco companies did.

  43. Good ole war. Nothing drives up this stuff like some global tensions. With no end in sight currently, I've heard from some places that price per barrel could pass $300USD in a few weeks.

  44. Every one in general. Mainly whatever idiot built our entire economy on imports. Why are we importing everything. Food oil medicine some we can't control but we have some of the best farmland in the world why do we need foreign food?

  45. Everybody, seriously. We've all let this world go to shit, we let people get away with LITERALLY anything. We hold valid selfish immoral people as our ideals....so in a way OP it's my fault.

  46. Many people, from OPEC, to the Oil Companies and the lobbies they use to influence our government to our government itself for continuing to subsidize that industry.

  47. I blame Russia, and our (the US) inability to implement renewable energy sources for power and transportation. But mostly Russia as a short-term cause.

  48. Vladimir Vladimirovich Putin and also American industry for making us so damn dependent on cars for everyday everything! bodega on the corner to get food, nope zoning laws gives you suburbs with no mass transit.

  49. Decades of oil lobbying instead of focus on energy independence, renewables, more efficient transport/technology. Political instability of opec nations in more recent years that us oil infrastructure is slow to respond to. Most recently a war incited by a certain oil/gas producing nation.

  50. According to my boss and co workers Biden is the cause and if Trump would have been president none of this would have ever happened.

  51. Overdependence on a narrow field of energy production means we're a captive market that can be exploited at will. Watch this space for record setting oil and gas profits by the end of the year.

  52. Major corporations and politicians getting kickbacks. Standard Oil is sitting on more barrels of oil now than it has ever before. We blame it on sanctions against foreign countries but really it's just

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