The White House has one problem that rules them all: Gas prices

[brooklynite]

Politico

For the past several months, a White House-led team of economic specialists has marked each day in the same way: With a painstaking, state-by-state examination of gasoline prices and the intricate market forces pushing them relentlessly upward.

Senior officials and others close to President Joe Biden view those prices as the cost that most directly affects voters’ everyday lives, and therefore their perception of the economy as well. As such, Biden and his top advisers fixate on them with an intensity that some aides describe as obsessive. White House chief of staff Ron Klain has grown particularly absorbed by the issue, checking the average price of a gallon of gas every morning. He’s lamented that it’s the one item everyone knows the cost of because gas station billboards are so ubiquitous throughout the country.

The White House’s focus on gas prices is bred from two sobering political conclusions top officials have made. The first is that they have little control over the problem. The second is that as prices rise at the pump, so do Democrats’ odds of a midterm wipeout — especially as the average U.S. gallon of gas hits fresh record highs.

“There really isn’t one silver bullet,” said one person familiar with the discussions. “It’s a really difficult issue to message around when you can’t deny the reality.”

[MacKasey]

1. Every newcast should begin with how much money each oil company is making

Maybe their name should be the Robber Oil Barons

Include how many leases they have and are not using

[NCDem47]

2. It's amazing the pass oil companies are getting here.

Thoroughly convinced oil companies are trying to recoup their losses from COVID lockdowns—and then some!

[MacKasey]

14. I agree, they are recouping their COVID losses

[Ferrets are Cool]

13. Why would they? They want Democrats to lose.

[Wounded Bear]

3. Oil companies are holding prices high so repubs take over Congress this fall...

[mitch96]

4. Yup, It's all about the economy around election time as I see it..nt

[Yavin4]

5. Here's an idea. Remove the embargo on Venezuela.

https://www.reuters.com/business/exclusive-us-oil-services-firms-join-push-revamped-venezuela-license-2022-04-21/

[Baked Potato]

6. The money is flowing:

After its dismal performance the past few years, Aramco’s net income rose 82 per cent to US$39.5 billion in the first three months of this year, up from US$21.7 billion over the same period last year. With a market cap of around US$2.43 trillion on Wednesday, Aramco last week surpassed Apple to become the world’s most valuable company, Reuters reported.

https://troymedia.com/business/saudi-oil-is-being-leveraged-to-great-advantage/

[Bettie]

7. Well, how do you propose he bring down gas prices?

It isn't that the companies are struggling, they are choosing to keep prices high to improve their margins and keep making more profit each quarter. Not much any president can do about that.

[andym]

8. Ukraine needs to defeat Russia which will lead to Putin's downfall

When the sanctions end, the oil and gas prices will come down. The best solution is to use the Ukraine Lend-Lease law to send Ukraine the best weapons we have to defeat Russia as soon as possible.

[Baked Potato]

12. I agree in that when Pootin is defeated,

Americans will chock that up as a win and would feel that President Biden beat back an attack on Democracy.

The pain at the pump would be seen as necessary to stop fascism.

This could explain some Republican hesitation to back Biden. It’s obvious that high gas prices and inflation are Republican friends.

[standingtall]

9. I think the only thing that could help gas prices is putting a temporary freeze

on the use of reformulated gas which could reduce prices anywhere 30 to 60 cents per gallon, but that would have to been done by County Governments the only thing Biden administration can is do is ask. This however would most likely not go into effect everywhere, because there are some cities with reformulated gas that are below the acceptable smog levels of the clean air act, but I would presume there are some who are not.

[WarGamer]

10. I think we'll hit $7/gal in June in SoCal

I'm paying 6.59 for premium now

[JCMach1]

11. Coup by oil company... Way past time to Trust bust in this country