See reply #26-27 for your short answer.

Most of the oil consumed in the US goes into a car tank in the form of gasoline. If you don't use it there is no market for it. I know this because we had this thing called a pandemic in 2019-2020 and oil was selling for -$40/bbl. That means they were paying you $40 just to take it. Thats the extreme, and we were not using oil because we didn't want to it was because the economy was in lockdown. However, it shows just how much oil is at the mercy of the consumer.

I wasn't asking you.

In reality, it is actually less than half, about 45%. I know people like to round up. Worldwide it is about 25%.

Oil
 

All could have been avoided by staying energy independent and not shutting down the Alaskan pipeline. Does not get any more simpler than that. We were there 2 years ago. Wonder what changed?

Just over 2 years ago there was a glut of oil world wide.
The price and demand was at its lowest.
Then the world opened up from all the Covid lock downs and demand could not keep up with production.
Since then oil has practically been weaponized due to the war in Ukraine as a product, with the haves reaping vast profits, including I may add, US oil companies.
Oil demand and price, as well as inflation is a world problem, and inflation wise, the US is doing much better than many.
The world does not finish at the US border.

This tread refers to what NYS is planning to do about fossil it is from petro home services. Beware This can happen to the people in Florida.
Albany is actively working on plans that would force you to convert your natural gas, heating oil or propane gas heating systems to electric heat pumps as early as 2030, at a cost that could add upwards of $20,000+ per home. They would also artificially inflate the cost of all energy with new carbon taxes or something they call “cap and invest.” They would force you to buy electric cars and trucks no matter how much more they cost or their limitations. And they are planning to outlaw the use of fossil fuels for creating electricity, jeopardizing our electric grid reliability. It could be disastrous for NY families and businesses.

If you disagree with the narrow, untested, and expensive forced electrification path, you need to tell them right now! It is not enough to simply comment on Facebook, or complain to friends. Enter your information and write your own message, or use the preloaded one. In less than a minute, you can let the Governor and your legislators know how you feel before it’s too late.

We need an energy plan that reduces carbon emissions, but which includes traditional fuels that are increasingly renewable and efficient, so we don’t suffer the tremendous costs, disruptions and backlash that their plans will generate.
Tell Albany, You are going too far, too fast! Your message will automatically be sent to the Governor, your state senator and your assembly member, based on your address. Use the provided message or replace it with your own.
I support efforts to fight climate change, but fear that NY is on a path which would create huge financial hardships for my family, and serious problems for the state. If the Climate Action Council's plans are adopted, I would be forced to spend tens of thousands of dollars to convert my home to heat pumps, electric stoves, and water heaters. I would be penalized with carbon taxes or surcharges on other fuels. NY's electric rates are already among the highest in the country, and we report the most outages of any state in the Mid-Atlantic. The rapid, untested changes to the electric grid are likely to send electric rates even higher and compromise the resilience of the grid.

I don't believe we have a good enough understanding of the real costs and risks of these plans, and there will be a backlash when their impact is felt. Our path forward should not abandon fuels like natural gas, propane gas and biofuel heating oil, which can get increasingly renewable. We can reduce carbon output significantly without putting all our eggs in one fragile, expensive electric basket.

We are moving too far, too fast, with too much risk and cost. I urge you to support a broader path to a cleaner energy future.

Ohiobuckeye
 

Thanks for your response but you must of heard something a little different than what I
did. If we were producing oil we wouldn’t have gotten our gas prices raised by $0.20 just this week. My information came from BBC, you can’t believe anything that our news says here in the U.S. If you want hear what’s going on here in the U.S. don’t listen to our fake news media here, listen to a neutral countries news. I hope your right!

Ohiobuckeye
 

ChiTown: read your comment where you said “Answer Yes or No”. Sorry I still disagree with your response to me. I heard it again on BBC that oil prices here in the U.S. are going up. Sorry but I disagree with your comment. Gas prices will reach $5. a gal. Also the little curly haired spokesman said gas prices will go down. Believe what you want but our economy is going to pot!

I am not sure I understand your point. We do produce oil, we produce a lot of oil. The oil we do use comes from both domestic and foreign sources. We do use foreign sources of oil for reasons of price and the type of oil (all oil isn't the same). The production cuts by the Saudis and other countries will impact the global oil supply and increase prices. Oil is a global commodity. What I wrote in my post (that you responded to) are basic facts available from a variety of sources.

Increase supply while maintaining demand and the price will drop.

Right now, one with 2 wheels. Soon, one with 4 wheels.

Reducing oil demand by buying e-vehicles and the price of a barrel of oil will drop.

Yep, pretty much what I thought.

No, the way you control it is to produce more of it.

And I know people like to get hung up on the minutia when they're losing an argument. For the sake of that, OK....we'll use your numbers. If demand for that 45% was cut by half, then it would have an effect not only on that 45% but also the 55% that is used for other oil based products. Use me for an example… I pay $0 directly to the oil industry for my transportation, and it takes less total energy consumption for my electric vehicle to go 100 miles than my other car which is a gasoline powered Prius that gets almost 60 mpg. Toyota announced that they have over 1000 patents on battery technology that will replace lithium ion, and are going to roll out a solid state battery (what NASA uses in space) powered vehicle in 2025 that they claim will go 700 miles on a charge and be able to be recharged in 20 minutes. Up in Minnesota one of the large gasoline station chains is already starting to put in islands for EV charging. The handwriting is on the wall.