Speculators

*A former student, Todd Christiansen, works as a Wellsite Geologist in oil. Reprinted with his permission.

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I’ve seen lots of people posting about oil and gas and the prices thereof, and there’s a tremendous amount of bullshit flying around. So allow me, a scientist working in Oil, to say a few things:

1.) Gas prices are largely determined by speculators. Supply and Demand has almost nothing to do with them. Things like “international uncertainty,” and “these idiots don’t have any other choice because half the country thinks public transportation is for liberal pussies,” drive prices up and there’s no real way to force them to come down. No matter what Newsmax or MSNBC is telling you, Joe Biden can’t flip the “Lower Gas Prices,” switch without an act of socialism on a scale that would make Reagan’s corpse reanimate and storm the capital more effectively than they did on January 6th.

2.) Access to more or less oil doesn’t really effect gas prices. Rather, it’s what that more or less access to oil causes the speculators to think that drives prices one way or the other. To put it another way, if the US were to stop buying Russian oil, gas prices would go up, not because there would be a shortage of oil or anything but because the speculators would think “this should drive prices up.” It’s really as simple as that.

3.) The Keystone XL pipeline is for Canadian oil. While the US certainly buys it’s fair share, and the pipeline might lower costs, it isn’t going to realistically change gas prices. Unless you own stock in Canadian oil companies, or you just REALLY HATE environmentalists, the pipeline isn’t the answer to anything. It’s just a red herring. Like Communism.

4.) We are drilling and producing oil all over America, including in the Bakken in North Dakota. I saw some ridiculous shit yesterday about how liberals have shut down drilling in North Dakota, and I can’t explain thoroughly enough how absolutely not true that is. I’ve got coworkers up there as we speak. And Liberals or Democrats or whoever have never really had any sort of impact on domestic drilling(outside of Alaska, but Seward’s Folly is a whole different kettle of fish) since I got into the industry in 2010. There is only one factor that I’ve seen that changes the amount of drilling we do: oil prices. Anyone who points the finger at anyone other than oil companies is selling you a bridge, dude.

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