Gas Prices Near ALL TIME HIGH As DC Weighs Russian Oil Ban | Breaking Points with Krystal and Saagar

Krystal and Saagar cover the spike in oil prices happening due to geopolitical turmoil and other domestic factors as Biden and Pelosi consider banning imports of Russian oil

To listen to Breaking Points as a podcast, check them out on Apple and Spotify

[PepeToTheMooon]

Gas went from $3.79 to $4.30 in 6 HOURS near me. 6 hours

[jstreets]

We need to be self sufficient. Plain and simple.

[thesuperdingos]

Democrats can kiss the midterms goodbye if this continues

[dexterk]

These past three years have shown that america needs to focus on more domestic supply chains, ie energy, manufacturing, semiconductors etc

[threeofeight]

What is odd to me is that when "WE" produce more oil, the price doesn't get cheaper for "US". Even if we drilled more and had more oil, the oil companies would still sell it all over the world to the highest bidder. To them this is a great thing. It isn't as tho global supply is any less than it was before this war, which tells me this isn't as simple as a supply and demand issue. When there was an oil glut during CoVID the prices remained pretty stable, prices should have dipped below a dollar if this was about supply and demand. Its only about corporations making as much profit as they can get away with. Maybe we should socialize oil. lol. idk the answer but I know it isn't about drilling more or less.

[HappyBeeHoney]

Gas hits $5 a gallon again for the first time in 14 years.
WEF: yes, you'll own nothing and be happy.

[williammorris]

Does Krystal realize not all Americans live in cities? Owning an electric vehicle is not practical for every American, especially rural America where large loads are pulled with vehicles and the luxury of time to charge is impractical.

[marcus]

I'm confused, we're using the same amount of oil as we had before, but buying oil from somewhere else, and we're supposed to be believe that is helping the environment. Last time I checked, the environment is a global issue, so basically we're literally doing nothing but shooting ourselves in the foot just for fun. If we are going to use the same amount of oil, then why not have us drill and produce oil, where we can better clean up oil spills, compared to those in the middle east. I don't want to assume, but I'm going to guess the middle easy doesn't have a very good EPA.

[russellromig]

I was in Petaluma CA from 2003-2007, gas prices were between $5.50 - $6.50 a gallon in the bay area in the 2007 time frame. Ppl had to decide whether to pay for gas to get to work or pay their housing costs. My intuition is that a housing crash is on the horizon.... just like last time.

[tylerhackner]

It’s the late 70s again. Inflation, nuclear war intensifying

[GreyCrowe]

Gas at 4.50 a gallon...Rents increasing 40-60% in just the past 9 months...Insurance premiums increasing by 10%...Most employers giving a 2-3% raise, *if any raise at all* ....$15.00 an hour minimum wage ain't sh!t anymore

[ryantaylor]

They've been trying to break the middle class for years. They're doing pretty well too

[shanek]

I paid $4.99 for diesel yesterday here in East Tennessee.

[grahamman]

If we could lower gas prices within 6 months by producing and refining our own oil I'd be pretty happy.

[brianpennell]

Yes Krystal is totally right. Let’s also get rid of chemo and focus on curing cancer

[erikkovacs]

Am I living in an alternate reality? We're pumping more oil than ever? We were energy independent back in 2019. Our rig count is not back to were it was before the pandemic. Yes drilling will help get prices down.

[ehrhdalfk]

So is Krystal saying if we start domestic production now, we can have a normal price again just after seven months? That works for me.

[scottreed]

They keep denying the permits for drilling, we’ve been awaiting approval on our own wells for 9 months.. this is a joke..

[kevinkelley]

First time I’ve ever heard Saagar disagree and he does it so softly. I feel like he’s always scared to piss her off lol.

And this whole argument she’s making about drilling will only help six months from now so let’s do something that will take ten years to get off fossil fuels for good. Umm, how about we do the thing that could relive pressure on the thing we all use while we wait for the nuclear to be built. At what price do people like Krystal acknowledge that we need to do something to reduce the cost of oil? Im in SF and the price is hitting $6 in the city. Do we need to see the price hit $7? $8? Is there no price that we just need to admit that we need to drill at a larger rate domestically?

[forestschoenrock]

Crystal acknowledges oil prices are all speculative, yet brings up a 6-month timeline for new oil as an argument to not drill.