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THE 2022 OIL CRISIS:
On the most basic level, the United States uses almost 20 million barrels of oil, every single day…which, makes us the number-one consumer of oil in the world…but, there’s catch: since we only PRODUCE 18.6 MILLION barrels of oil per day…we’ve become reliant on OTHER COUNTRIES to fill that deficit.
Now, this isn’t inherently a bad thing, because financial speaking, foreign oil is WAY CHEAPER than we pay to manufacture locally here in the United States – but, that means we’re subject to price volatility should there be any disruptions.
In terms of how they intend to bring prices down:
1. NOPEC
This bill – if signed into law – would allow the United States the option to sue Opec – and its members – for fixing and manipulating the price of oil, similar to how they work to dissemble monopolies who gain too much control within a specific sector.
However, the downside is that – it might be near impossible to enforce any decisions against a foreign nation, it’s heavily opposed by the US-Based Oil Companies – and, if they actually pursue this further – there could be serious consequences from other nations who could make the situation worse.
2. OIL RESERVES
15 million barrels are currently scheduled to be released in December. As they say: “The upcoming oil reserve release is aimed at ensuring there’s enough oil on the market to ensure gasoline prices don’t spike up.
3. MORE PRODUCTION
According to the US Energy Secretary, “the U.S. was working to identify at least 3 million barrels per day of new global oil supply, with assurances from several high-level oil and gas executives that their companies were set to dramatically increase investments and bring online new rigs.”
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ignoring the fact that oil peaked in 2010 does not help. sad how the people in this country want to be dependent on foreign nations for their energy needs.
Well why are we still refilling gas stations? Let them dry out! Battery powered self driving and self charging big rigs are the future!
The US has wind farms. No need for oil.
"The Day The Earth Stood Still" 1951 Scene / clip The Power Outage
We could just become energy dependent by allowing pipeline work to continue while also adapting green energy
The second most abundant fluid on earth. And we are having problems getting it.
ETHANOL[_________________] meter
for a dey. for one dey. nyc a. cappucino
iscz not to have a cappucino all the wey to nyc
F.O.S.S.i.L
FOSSIL
"Renuable energy"? We have 300-400 years of oil/natural gas/coal just here in the USA. All other forms of energy are weak and fickel and cost lots more. A self-imposed fuel crisis hurts everyone.
what happened to the crisis? I guess this was all click-bait.
My Prez will help.
Fake news just doing it for views
Buy an Electric Car is the most Dumbass and Stupid statement I ever heard!! 😸🤣 Yeah right! Buy an Electric Car! Yeah it's like that will solve the problem! But let me ask you this where do y'all think the Electric Vehicles getting their electricity 🔌 from every time they plug in and charge their EV's??? Solar and Windmills can't sustain the supplies of electricity in demand! Duh! And Joe Biden has been shutting down a lot of coal plants, Nuclear Power Plants and he even shut down Oil Fracking or Drilling in America. 🤣
Diesel is going to run out soon. Trump said this would happen!
It’s going be a hot summer 😂
So here we are. Diesel is not at a shortage in fact prices have come down baffled at the fear tactics on YouTube LOL keep it real or fake unreal
So ban oil vehicles and rely on electronic vehicles and everything electric get rid of the dollar and have us rely on the new world currency? New world order completely obey their commands well that’s a civil war in the United States
Why are we struggling here when there is the keystone pipeline and Alaska. The petro companies in alaska have said let us turn on the pumps but they won't allow it and you ask why eco people and other bull. We could fix all this by opening these up but they won't.
Diesel shortage? I call BS. The title of this video does not match the content so it appears to be fear-mongering clickbait.
Biden sold all our oil reserves. That’s the real crime. What happens if we went to war today. We would be screwed.
God put fossil fuels on this earth, God knows all, he knew we would use fossil fuels, it’s in his plan, rely on God not DemocRats.
Smells like venezuelan liberation.
but but America is rich 🙄 😹 how she do that to people 🤔
Good, then I can drop the insurance on the trucks
Fear sells
Gas and diesel could be 20$ a gallon, I'm still going to drive my old inefficient ford. Sure electric vehicles are useful but nothing beats the sounds of a 460 v8
The US has the supply to dominate world oil production, but the Biden Administration has cut US production in order to push the US to renewables. The problem with renewables is they have limited energy. It’s nice to use an EV, but where will the energy for the EV come from? Renewables don’t give consistent energy. Only atomic energy gives the consistent energy needed.
Peak oil is coming
Buy EV
Basically like everything they want big companies to take over and the little business to be done. That's exactly what's going to happen. Mark my words. From over the pond to my American friends. Stay safe and never listen to politicians.
Should I spend with FTX mr finance master?*
I'm not paying for a tesla my gen2 prius will do just fine. The price of electricity will go up as gas prices go up. Also oil refineries around the world are going up in flames because of a pipe bend that never gets serviced.
I love how everyone supposedly orders groceries at home a lot of people work from home a lot of people shop on the Internet, and yet every effing body is in town clogging up the roads
If the evil elites didn’t try to force truckers to take the jab, we wouldn’t have this problem
Yo G Dawg!? How much money did you loose on FTX? We’re running out of gas, lol. You’re no geologist bro, the world has more oil than metal for batteries. Just saying
Indeed graham SOLD OUT
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Biden shut down everything here. This is all his fault.
Great info
ok, do we buy a Tesla, we use fossil fuel to run our power plants, if you are truly worried about the climate than we need to put nuclear energy in use wind mills and solar panels won't work.
dude, natural gas is not oil. it does burn, but it is a natural, renewable resource. don't compare it to texas tea.
Panic news.
In the Netherlands we don’t have the oil, but the gas problem. But like america we also won’t to become more self reliant or less dependent. Only countries we’ve trusted through the ages like america, Australia etc will be preferred primary suppliers and stuff from other countries will be sourced differently. I hope that cheap toys, fast fashion and other cheap things we buy stop, because it’s a consumerism trait of the west fueling plastic pollution, sponsoring “bad” countries, and being too dependent on other countries. This is probably a burning platform for sustainable economies