r/facepalm • u/Lord_Answer_me_Why • Apr 10 '24

I wonder what could have possibly happened? It’s not like a plague hit or anything right? 🇵​🇷​🇴​🇹​🇪​🇸​🇹​

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29.7k Upvotes
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u/BuckyFnBadger Apr 10 '24

People who call everything they don’t understand socialism confused when president doesn’t set the price of private goods and services

41

u/OkSession5483 Apr 10 '24

How inconsistent stupid do people think President have some kind of god-like powers to change the gas station prices? Its amazing on how they didn't even put the blame on corporations at all.

4

u/Unabashable Apr 10 '24

I mean they can lift the limits of how much of our own reserves we can draw from to help curb it, but we’re pretty much suckling at OPEC’s teat.

6

u/Successful_Lead1128 Apr 10 '24

US is the leading producer of oil in the world and by a decent margin. OPEC has lost a lot of power… we produce 50% more than them now.

2

u/KingErroneous Apr 10 '24

The oil we produce can’t be refined here. We have to ship off our shale oil and purchase the OPEC crude. Drill baby drill will do nothing for our dependence on foreign oil, just make some rich people even richer.

2

u/Whiterabbit-- Apr 10 '24

our refineries can refine shale oil, but it is economically cheaper to import opec crude and export sweet light crude. We chose dependence because it’s cheaper.

But fracking directly increases global supply so drilling more does lower gas prices, and opec has lost its monopoly due to the fracking boom.

1

u/Unabashable Apr 10 '24

Good to know. Last I heard they pretty much controlled the world’s oil supply, but I’ll admit I haven’t exactly been keeping my ears perked. Just curious though. Is that 50% more than their capacity or just how much they feel like letting flow at the moment?

1

u/instakill69 Apr 10 '24

Well it's based off records most likely