Comments by "" (@Mawyou) on "Biden speaks after passing of bipartisan infrastructure bill" video.
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@captinbeyond First of all, from a purely political standpoint, no president, Democrat or Republican wants gas prices to go up. It is bad for their reelection chances, damages their approval rating, and hurts the American people in their wallets. Biden is actually asking oil companies to pump MORE gas, not less. Also, Keystone XL was years from being operational. Check your facts.
1. As far as domestic oil production, Democrats cannot do anything to force oil companies sitting on millions of acres of land that was leased to them that they are not drilling. They benefit from these high gas prices, so they are not in a hurry to drill more. When gas prices go down, domestic oil companies go out of business since they can't make a profit.
2. Regarding getting more oil from overseas, Democrats cannot do anything to force OPEC, Russia, and the Middle East to pump more oil if they like their current profits.
3. Regarding supply and demand, demand is WAY up, but supply is not being increased. Also, supply chain issues like not enough truck drivers and overcrowded ports are slowing everything down and raising prices.
The cost of gas is determined by many factors, and Joe Biden knows it's in his best interest to do everything he can to get prices to go back down.
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