Why are gas prices so high? Who's really to blame for high gas prices? Oil Gas Industry Explained

In this video, we take a look at who's really to blame for the high gas prices. What factors determine gasoline prices and look at a brief breakdown of where the cost of gasoline is calculated. Then we'll look at the recent soaring of gas prices since the Russian invasion of Ukraine. Then we take a look at what President Joe Biden has done since being in office that might influence what people blame him for, including revoking the KeystoneXL pipeline permit. Then we look into what the oil companies have been doing to potentially pad their profits and slow the production of oil in order to return cash to shareholders. Lastly, we mention the recent announcement by President Joe Biden to release 1 million barrels a day for the next six months from the Strategic Petroleum Reserve to help offset the cost of gasoline. We also look at other current political events that are surrounding this hot topic.
Sources:
slate.com/news...
www.nrdc.org/s...
fivethirtyeigh...
en.wikipedia.o...
#GasPrices #Oil #Biden

[@jblaze7052]

First he says presidents don't directly effect the gas prices. Very next breath he talks about how if Biden had not halted land leases the price wouldn't be that different. So, his actions can directly effect the price. Also, regulations Biden set effects the price. And it doesn't matter when the pipeline is done, or if the cruise isn't refined yet, because gas prices are affected by future expectations.

[@rollsroycenetwork1221]

Makes no sense. That purple like would of only saved a couple cents on average on gas prices. I’m sure your not hurting over the couple sense and more hurting over the fact that it’s up like 3-4 bucks

[@jblaze7052]

@@rollsroycenetwork1221 you don't get it. He said the president can't effect had prices, then he says how he can effect has prices. He says it wouldn't be by much but that's simply not true.

[@_a_5494]

so a single pipeline is responsible for global crude prices to skyrocket? do you have no idea how the actual industry works?

[@jblaze7052]

@@_a_5494 when did I ever say that? NEVER! My only point was that dude contradicted himself. You think you've got a good argument against those blaming these inflated gas prices solely on the pipeline, and now you want to go beat someone up with your new found understanding. Well, that's not my argument, because I know there are several causes for the rise in fuel costs. So you're gonna have to find someone else to try your new stuff with.

[@_a_5494]

@@jblaze7052 i’m an oil and gas trader. i traded the march/april 2020 oil crash as well as the 2021-2022 rally. it ain’t newfound understanding for me. im glad you’re not a dumbass like those in the media who claim joe biden is somehow responsible for global gas prices going up

[@unclesamsmydad]

I have a problem with your video. Gas prices were about $2.40 /gallon in 2021 and had already doubled to the $4.25/ gallon where you start your explanation at. How do you explain that?

[@bitcapric4527]

That’s where you know he’s a Biden supporter, therefore nullifies this video. Can’t trust anyone giving you neutral and objective information anymore. It’s like you have to dig deep on everything these days cause everyone is out to manipulate you for their agenda.

[@AndresFnt]

Id like to know as well

[@yopotico]

Supply and demand is why. Also look at how oil companies stopped fracking to slow down production. From 2010 they were fracking and producing with low profits. They realized this in 2019 then pandemic hit and they never never went back to the original production because they realized how to provide profits for shareholders. Look now all time record stock prices for most oil companies. Biden is an idiot but 99% is no his fault.

[@yopotico]

We do need to move away from so much oil use but that needs to be done slowly over many years. Also for 30 years environmental folks have tried to increase gas Mileage on vehicles but it always gets shot down. Better gas mileage save money and uses less gas. But some don’t care

[@JohnPierceNC]

I have zero idea, what I do know is during the pandemic thousands of petro workers was laid-off in 2020 and halted crude production many oil leases were terminated offshore just as Joe B. promised coming into office. Alot of new leases were terminated especially new federal leases.. I worked for 18 years with Halliburton and contracted with Schlumberger also part petroleum social community and they all.... I mean all... From GreyWolf, TODCO, Key Energy, Tiger Well, CONOCO, Gulfport Energy , British Petroleum and SONOCO engineers say the same thing, been shut down a little to long and the U.S. shouldn't have resigned with OPEC and way too much government spending.. Now huge inflation heading for hyper inflation and yes it is Joe B. fault with his policies.

[@rollsroycenetwork1221]

Finally, a clear video without political noise and emotional people 🫡. Thank you

[@dumitrulungu2454]

Ok, we understand your message: Not Biden, Not Biden, Not Biden, Not Biden, Not Biden.... oook.

[@devmag52]

Believe it yet? I don’t

[@thehamburgler]

@Illustrate to Educate Interesting that most people are commenting on the keystone pipeline portion of the video but what I took from your video is that you were blaming oil and gas companies or corporate greed. It's really upsetting to hear and see promoted by people who clearly don't understand the industry. Maybe an update can be made to the video with more clarity on the global commodity market. The oil and gas industry is an extremely volatile industry and heavily dependent on OPEC until the shale revolution began after the 2008 crash. The previous decade has seen lower prices sustained for longer due to over supply in the market. A bit of history, when the shale boom took off banks were happy to loan money to companies because shales are a continuous resource so the risk was minimal to the banks. Or so they thought, banks were 3-5X over leveraged and companies were drilling like mad. Then OPEC said the US was producing too much and we needed to cut back production, but shale plays don't lend themselves to be produced in such a manner, wells are incredibly capital intensive and the only way to make a return on your investment is to keep drilling. OPEC said fine, we will not cut back our production either because you're not supposed to be producing this much, "we (OPEC) can produce at a much lower price than you can" (I'm paraphrasing). They were right. Drilling in the US dried up, banks lost a ton of money, thousands of companies went bankrupt, tens of thousands of people lost their jobs and a new green movement began. The fossil fuel industry has been demonized constantly, despite crude being the cheapest, most reliable and abundant resource any generation has seen. The byproducts of crude is incredible and is the reason we are able to communicate on devices today (topic for another day). The drilling activity stayed relatively low after the 2014 crash mainly because banks were no longer allowing companies to borrow more than 2X and companies had to fund development programs on cashflow. Fast forward to COVID, war in Ukraine, sanctions, global demand increasing and still not a lot of capital to be found in the industry. The industry is tainted and the green movement/transition to renewables is where money wants to go despite the fact that all the plastic parts and batteries made still need fossil fuels to make them and lithium batteries are 3-4X more carbon intensive to make. Look at a rig count chart, you'll see it's steadily increasing and we are on pace to produce more oil than ever in the history of the US, so to say corporate greed is the cause is just an ignorant statement and maybe speaking with some people in the industry will help shed some light into the complexities of how a company can't just add 10 rigs to a portfolio and start drilling like mad. I also highly recommend reading The End Of The World Is Just The Beginning by Peter Zeihan for a thorough breakdown of commodities, currencies, transportation and trade.

[@IllustratetoEducate]

Thanks for your input and clarification on the topic. Lots of good information here to digest. I think you're right, a video on how the industry really works would help clear up this topic.

[@thehamburgler]

@@IllustratetoEducate look forward to the new video. Overall great videos!

[@TheLookatGodPodcast]

Gas prices were rising before that….so. But I understand that Presidents don’t directly affect price of commodities but they can enact policy that can indirectly cause price volatility and price fluctuations. So even though he doesn’t necessarily tell companies to raise prices, he can pass policies that effect the prices of oil.

[@tomscheffer824]

1. A president can not pass anything without the Congress putting legislation in front of him to sign into law or "policy". Yes, the President can put forth legislation but, the Congress must then approve that legislation (checks and balances). A president does have certain executive powers such as, "defense production" in times of crisis. But, high gad prices, while not good, does not equate to a crisis like war or pandemic. Of I were Biden I would make the case that ot6 does. But, they have not uet done that. 2. Even if he could wave a magic wand the US government is like a huge ship that cannot be turned on a dime. 3. Oil is a globally traded commodity and prices are high everywhere. Plus, oil is not just gas for cars. Certain countries produce certain types of petroleum for certain types of good i.e. gas for cars, plastic for othrt types of goods, even Tylenol uses certain types of petroleum. So, while what you say is technically true is a very limited sense. The President can not really have a very really profound effect on our day to day price at the pump. Short of declaring war on a big oil producing country like Bush did with Iraq. I remember paying 4.25 in July of 2008 due to that "policy". Its s very intricate and globally reaching process that takes many things into account that one person, or even government, can solve on its own. But, the bottom line is the oil and gas industries along with the OPEC nations realize that green energy is the wave of the future. Knowing that, they have decided to keep production just below demand to reap huge profits while they still can. Throw that in with Russians invasion of Ukraine and you get what we are seeing now.

[@davidunderwood4341]

@@tomscheffer824 It's called executive order. He has done more executive orders than any other President combined.

[@tomscheffer824]

@@davidunderwood4341 yes I mentioned that in section 1. But, those are limited, temporary, and don't solve the problem short or long term.

[@davidunderwood4341]

@@tomscheffer824 I couldn't agree more. One of the reasons Biden is a dip shit.

[@BillyBobbby]

@@tomscheffer824 the president does have power to sign executive orders that effect how domestic oil companies do business, so saying Biden doesn’t have control of gas prices is not true. The prices were already increasing and high before Putin started the war, so blaming Putin is silly. The war may have an affect on the gas prices, but it is not the root cause of the problem.

[@jimmytimmy3680]

In summary: Corporate GREED.

[@anbambang7853]

Im very shocked how bias & uninformed this video is. The prices of gas are and aren’t the Biden administrations fault. If you recall pre Biden administration America for the first time in decades became the worlds largest exporter of oil & gas. The Biden administration reversed that day 1 into office. Biden’s “New Green Deal” would stop America’s gas & oil production as America would be conducting greener energy & do business with foreign oil. The problem with this is obvious not every state as options to green energy which is no where near as effective as super carbons & not every American is an elite. This policy is destructive to the poor & middle class. Not everyone can afford solar, electric cars, and wind mils. The president cannot determine the price of gasoline but the presidents policies can. If Biden were to re open America for business and stop seeking foreign oil from countries that do not nearly have an efficient, a safer & cleaner environmental like America has additionally the fact that wind mills & solar are inefficient the Americans wouldnt be facing such crisis right now. Not every state has access to great year round sunshine and not every state gets plenty of wind, nor can every state have enough room for these solar farms and wind mill farms to even be effective. You need a plethora of these farms to generate as much energy as hydro super carbons. The United states looking to do business with A)Tyrannical oppressive countries to their people & B) Tyrannical oppressive countries that do not have an environmental protection agency or even environmental concern. This whole charade of environmental and care for the poor is just that a charade.

[@paperfart3988]

I find it hard to believe that it's that simple

[@shaunahoffman3203]

Agreed. Doesn’t them holding back rise the prices?

[@anbambang7853]

This video is a lie whos to blame for gas prices is the Biden administration for radically subjecting Americans to green energy & shutting down domestic oil/gas production. People keep blaming oil companies & but they set the prices based on government policies, & if the government keeps putting restrictions on production & regulations on companies it further drives the oil companies production, distribution, etc costs. Ethically we should produce our own instead of seeking tyrannical countries like Saudi Arabia, Venezuela, & Russia, plus our refineries are much more environmentally cleaner producing than other nations due to EPA regulations. This guy is a political dogma shill.

[@nerdobject5351]

This wasn’t proven at all in the video.

[@Ashitsuingami]

really helpful! I've been learning a lot from your videos!

[@IllustratetoEducate]

Nice! I love to hear that feedback! Thank you!!

[@sidneybristow815]

It’d be great if it was more accurate. See my comment.

[@alvaroq2024]

@@sidneybristow815 Probably because you need to take off those pesky blinders. Do you have a PHD in - who’s to blame for high gas prices?

[@jjsmama401]

Thank you so much for this video!

[@IllustratetoEducate]

You’re welcome! Glad you found it helpful! ☺️

[@KJaxPack]

Wouldn't it make sense to drill here to lower the cost of transportation rather than the other side of the world ,you're not morally better just because you're drilling in Iran and not the US

[@Kaotix_music]

Yes it would but the democrats think that’s bad for the environment. As if ONLYYY the United States needs to be the only country in the world to follow clean energy when no other nation has to

[@joedavenport5293]

The oil pumped here in the US in tar sands oil. It's more expensive to refine and extract. So oil companies need to sell it on the global market to get a return on their investment.

[@minnesotasfinest5546]

@@joedavenport5293 would still lower the cost either way

[@tinadraper9143]

@@minnesotasfinest5546 when USA is drilling, they up the prices to other countries and their own people, it's bad for the consumer but good for the oil workers.

[@aweshumandy]

lower the cost of transportation but not labor. also not oil extraction is the same.

[@TuffleG]

Thank you for this knowledge without a biased view is very helpful.

[@IllustratetoEducate]

Thank you! I wish more people saw it that way. I’m in no way trying to protect Biden, I’m trying to protect the blame being put on the office of president. Democrat or Republican, Gas prices up or down, it doesn’t matter. The president can enforce policies that might alter it slightly over a long period of time (like years) but what we are seeing lately is not that. This has been rapid change due to global factors, mostly out of anyone’s control unfortunately.

[@TuffleG]

@@IllustratetoEducate I appreciate your work knowledge is only good when it doesn't have filters or edits to hide the truth from us.

[@bavondale]

No, it was quite a biased view

[@TheLookatGodPodcast]

@@bavondale Very much so...

[@s0675938]

This video couldn't be more biased if Biden himself made it

[@aaroncensor2761]

You are amazing! Love your video's 🙏

[@treva8461]

It’s funny that people were blaming Biden for gas prices when they had no idea of what causes prices to even go up.

[@TweaNation]

We are going to transition away from the oil industry - joe biden

[@Doamino41]

He might have said that but that's not why America is suffering. And BTW, he also said Trump is the worst president we ever had. Which I believe.

[@TweaNation]

@@Doamino41 really? So why are we buying less oil then ever before? Why did he shutdown the XL keystone pipeline? He promised a little girl he would wipe out fossil fules. He thinks trump is the worse president? Well Joe, Obama, Bush 43 and 41 has him beaten by a mile.

[@Doamino41]

@@TweaNation The Keystone XL pipeline wasn't "shutdown". Construction was halted and probably wouldn't helped anyway because it was just an extension. High gas prices are the result of many factors. 1) The pandemic 2) lower oil production 3) Putin's war 4) Higher than usual demand 5) Lack of drivers. Biden isn't totally innocent because his policies DO suck but all this is way deeper than just politics.

[@dallasbagley]

@@Doamino41 But you don't actually know why you believe that.

[@Doamino41]

@@dallasbagley Why I believe Trump is the worst president we ever had? I've disliked Trump from day one because of his daily lies. He was partially responsible for the Capitol riots. I'm not that fond of Biden either so I'm just hoping for someone better than Trump or Biden in 2024.

[@ChickenFarmsForSale]

It's all about Greed! These big Corporations don't care about you or me! Wonder why people are going electric? Exxon alone reported a profit of $17.9 billion - the highest quarterly profit reported by any oil company in history - while Chevron reported $11.6 billion, Shell reported $11.47 billion, and BP reported $8.45 billion.

[@alvaroq2024]

Subscribed! The illustrations are a huge help, thanks!😊

[@IllustratetoEducate]

Yay! I’m super glad to hear that! 😊

[@RandyR]

Great Explanation

[@dryerlint17]

Gas prices were way up before Feb 24 when Putin invaded.

[@paperfart3988]

They spiked like a dollar around that time where I live

[@zed6740]

Right but no president is to still be blamed for this. He already explained how even shutting down the Keystone pipelines leave little to no impact on gas prices. Its all just a matter of supply of demand. By the time Biden took office, the pandemic was already starting to ease down so due to the number of people going back to work, this lead to a rampant increase in demand. On top of that, much of the US's drilling and refining capacity had decreased due to Hurricane Ida hitting it back in August of last year. And lastly, oil production markets from overseas even plays a part in the rising gas prices

[@dryerlint17]

@@zed6740 We should work to be energy independent. We have the means. Asking Iran and other dictators is insane.

[@paperfart3988]

@@dryerlint17 yep. This right here.

[@afrikakorps8362]

I think he forgot about that part

[@gamesync1400]

I’m a little interested to why you didn’t talk about inflation as a factor at all

[@IllustratetoEducate]

I don’t think inflation has much to do with the increase in oil prices. Maybe a very minor part of 10-15% but that’s only like .30-.40 cents average.

[@alfonstabz9741]

@@IllustratetoEducate if oil supply decrease prices increase. almost everything that needs to be ship and move is affected it is a circular problem actually. shipping companies need oil to transport oil to other countries it is absolutely more than 15% increase to oil itself at minimum.

[@bobdoe4535]

Nice propaganda peice for the left.

[@Blu3_SK33]

Damn wish I could draw that fast and neat...I'm impressed!!

[@IllustratetoEducate]

Thanks 😊

[@MHerreraMusic]

Yes keystone pipeline even though 8% finished wouldn’t be done today for us to start using our own gas… but I find it hard to believe the fact we were building didn’t effect prices. It brought competition. Or what looked to do be MORE future supply. When you stopped that you take away the competition for oil, Lessing future supply. Which can be part of the supply and demand issue. This also could be why investors are cashing out instead of business as usual. Ps great art work

[@dryerlint17]

The substance that we need is under OUR feet. Get it and use it.

[@A_name_is_a_name]

Yep, future prices fundamentally affect supply & demand.

[@crazeinthedark]

The effect the Keystone pipeline would have had on national oil prices would have been minimal. It's just a conservative talking point. There are other factors at play that are far more detrimental to oil prices. Keystone pipeline would have affected global production by less than 1%. And just because the oil comes from North America doesn't make it any cheaper, we would still need to buy the oil from the companies producing it. And again oil prices are hardly affected by the shipment of the oil. It's all about how much oil costs on the global market. No one can control that besides OPEC, a pact of middle eastern oil companies who essentially have control over the oil market. Hope that clears it up for you. Biden can alleviate some cost but in reality can't do much as long as the global market is so high.

[@MHerreraMusic]

@@crazeinthedark I totally understand but according to this video it’s investors not investing in equipment that turn crude oil into fuel that is part of the problem… shareholders stop investing is the reason for high prices. I just wonder if they would still be investing if Keystone was being built. Investors invest in the future supply not current.

[@dolfyrantsparodies608]

Great video as always, good sir!

[@IllustratetoEducate]

Thank you so much for watching! 🙏🏼

[@TTKChrisking]

We did it Joe!

[@user-sw4qd2up2s]

REAL TRUTH at the 2:50 mark

[@Da2unadaptables]

Bro this guy needs to explain this as if I were a 12 year old

[@chriso9505]

Did you understand it?

[@R10471610]

THANK YOU!

[@IllustratetoEducate]

You’re welcome!!

[@frankpaws]

'yeah, you are missing alot. Drilling production went down during the pandemic. Production reached an all time high under Trump. Ergo, low prices and independent. Biden has yet to reach that level. Biden also canceled the Keystone pipeline, which would transfer oil via PIPE from Canada rather than traditionally via truck and train. Both of which are more harmful to the environment in CO2, but also accidents. That is a negative. There is a difference in oil leases and oil drilling permits. Having a lease, doesn't mean you can drill. Those permits have to be APPROVED, which they aren't. America can't just go GREEN overnight. These policies are going to starve and kill millions of people. Because Biden cut off the source that manufactures the food. And apparently, Biden isn't going to stop. So expect HUGE food costs, starving people and massive deaths. You can blame everyone else, and the one person who said "the buck stops with me" is blaming everyone else. If you hate Republicans, because they are Republicans, get use to 20 years of their dominance. Which maybe a good thing. The Demcorats have lost their minds.

[@MrHelpGuy411]

Well first off the keystone pipeline was for Canada not us lol.

[@frankpaws]

@@MrHelpGuy411 "The Keystone XL pipeline is a 1,200 mile pipeline that will safely deliver crude oil from Canada and North Dakota to the United States." That was literally the purpose. Maybe don't get your "facts" from Twitter.

[@davidunderwood4341]

You should have made the video.

[@frankpaws]

@@davidunderwood4341 No need. Everyone will just follow the MSM. Geez, a simple google search would defunk this completely. Its funny. Because those who come back on facts, lack Google for some reason. Its the funniest thing

[@_a_5494]

youre right

[@dancurry2875]

I made the One Tough Trucker song because of these prices!

[@salvadorcastillo2046]

"slow the production of oil" - don't you mean because it's a finite resource and the demand is increasing?

[@TBoy1247]

Great illustration of DNC talking points.

[@eyeonart6865]

Boycott gas stations.

[@oscartorres5804]

Lol

[@minnesotasfinest5546]

😂😂💀

[@davidunderwood4341]

What are you a child?

[@gregsmith3623]

They are not hurting enough yet I see people going on vacation and to the lake, they just want more.

[@TheLizardKing1967]

Gas Buddy 22 = 33 and 47 / Gas Buddy June 22 = 47 - This is Where Gas Prices are Headed.... Headed in a direction to where we all can't afford to eat food.

[@gregsmith3623]

That's person who was drawing is good, so good I'm going to have to listen to the video again.

[@IllustratetoEducate]

haha 😂

[@haroldhart2688]

IT TAKES 4.5 LITRES TO MAKE A CANADIAN GALLON $2.00 X 4.5 = $9.00 PER GALLON THAT CANADIANS ARE PAYING

[@Ironmike982]

I felt that Biden was going to go to more green avenues because that’s how he was campaigning. I think he’s going to focus on other sources of energy than production of more oil.

[@davidunderwood4341]

Biden has no clue what the next day brings. Have you watched him lately? It's very sad to see.

[@destroyer7249]

The problem with that (if your referring to electricity) is that the power grids cannot support that much power.

[@dryerlint17]

The problem is we have do do it gradually.

[@JackParsons2]

That's great but until the tech is widely available and affordable this is going to put a lot of financial strain on people of lower income.

[@therealsagekitty]

That’s why the gas price won’t go down soon until he realizes how stupid he was on that idea.

[@clarkharney8805]

The U.S. does not treat fossil fuel oil as a public resource, privatization allows for corporate profit. The U.S. oil is sold on the global market & is priced upon global conditions, not U.S. citizen demand. Changes in global oil market (i.e. Russia) reduces efficiency in the extraction-supply-sell chain. The U.S. oil companies are refusing to produce more oil b/c it’s risky from a business standpoint, which explains price increase. Change in gas price is due to changes in Russia’s economy & private ownership of a natural resource vs. national ownership, it doesn’t have anything to do with the Biden admin. Biden is looking at slowly transitioning to differing forms of energy for long-term sustainability rather than directly forcing private oil companies to give up privatization.

[@zatch8603]

What actions has he made to transition to alternative forms of energy?

[@davidunderwood4341]

So, gas wasn't skyrocketing months before the Russian invasion?

[@entropy8634]

@@zatch8603 it'd be cool to funnel gas tax into R&D labs for more efficient solar panels/ or more powerful energy storage, and incentives for nuclear power plants

[@clarkharney8805]

@@zatch8603 tbh I don’t really know what he is actually doing, I haven’t kept up with it, but that’s what he said he was going to do. I’m a Liberal, but I still voted for Trump because I enjoyed his tax cuts

[@clarkharney8805]

@@entropy8634 would thorium nuclear work well? I’m curious & here to learn, don’t know much about nuclear energy

[@alieyesonme247]

Really nice video man very educational, I love how you illustrated your findings

[@IllustratetoEducate]

Thank you! Thanks for watching👍🏼

[@dancurry2875]

It's like it says in the One Tough Trucker song!

[@JahTsir]

What if a politician "joe" blames the oil industry, gas stations and the American people? Duh dun dun!

[@its_me-nikki]

I have no idea who or what to believe at this point. This sounds pretty legit though.

[@zachwalton5036]

Nice video, great drawings.

[@IllustratetoEducate]

Thank you for watching! :)

[@Jlaudiomustangs10]

So many questions...but I'm not even going to try.....carry on I guess for some this will make them feel better🤷‍♂️

[@leslielonesinger5798]

All about money...everything is about money...

[@garyordus2383]

Biden lover

[@IllustratetoEducate]

Nope, just trying point out corporate greed.

[@Atomic0822]

LETS GO BRANDON!

[@user-sw4qd2up2s]

​@Jonathan G Repubs dont want logical explanations, facts or science. They are so focused on hate, finger pointing and Conspiracy theories that they lose sight of reality.

[@Jscorpy]

Fjb

[@colbysmith2684]

Let’s goooo Brandon let’s goooo

[@Atomic0822]

@Jonathan G Ah dang it looks like there's a vaccinated biden supporter in the comments! dont worry! the vaccine will get ya when u least expect it!

[@danhantheman]

@Jonathan G yeah only u understand all

[@nerdobject5351]

The video was ok. Maybe my tiny missed it. Was the question answered in the video?

[@digaddog6099]

I have to disagree with you on the Keystone pipeline. I think the problem is your thinking of the economy as something the government has some ability to manipulate instead of the government as something for the businesses to manipulate. By raising gas prices in accordance with green policies, the oil companies can equivocate liberal and leftist policies with a failing economy. Effectively, they could pick the president. I dont know if this is what actually happened, but there are very tangible reasons that an oil company could choose to raise prices even when a policy shouldn't technically effect them in the short term, or maybe even effect them at all.

[@bryansanchez7553]

I like your drawings.

[@IllustratetoEducate]

Thanks! I’m glad you enjoyed the illustrations.

[@noobwow2009]

Just let that pipeline finish. Next year will see price drop

[@JasbirKaurRandhawa_1313]

Thank you so much for your channel!

[@IllustratetoEducate]

You’re welcome! I’m glad you enjoy it! ☺️

[@jaymonroe9653]

Well done for the lay person. Balanced.

[@leroyvijarro9111]

GAS ISN'T THE ONLY THING THAT OIL COMPANIES PRODUCE AND PROFIT ON OUT OF ONE BERRAL OF OIL . DIESEL IS ALSO PRODUCED OUT OF THE SAME BERRAL OF OIL ALONG WITH MANY OTHER PRODUCTS .

[@dr33my57]

Are 8 years old

[@Ahmed.Elkholy1]

Could I have a video about the "Social Capitalism" economic system ?

[@IllustratetoEducate]

That’s a great idea. I’ll look into it.

[@williamross4440]

Brand names that is why

[@rabblerouser1665]

So who lost money on the keystone pipeline?

[@rabblerouser1665]

@Jonathan G so only Canadians were the investors?

[@rabblerouser1665]

@Jonathan G so both Canadian and US banks.

[@rabblerouser1665]

@Jonathan G the point is that I want to know. Why shouldn’t I want to know?

[@rabblerouser1665]

@Jonathan G it seems to me that Canadians and Americans all lost lots of money on this.

[@rabblerouser1665]

@Jonathan G why is asking questions a bad thing? Why is being fed information a good thing?

[@shaunahoffman3203]

Thanks for the Info.

[@IllustratetoEducate]

You’re welcome!! ☺️

[@alfonstabz9741]

3:40 the keystone XL pipeline will not have effect today. but 2023 is nearing the pipeline will have and effect in the over all price of oil in the long run easing the suffering of people in the very near future of less than year.

[@Jerry-fx8ih]

It's Biden!

[@omgaddad5596]

Can you do a video on Kashmir?

[@IllustratetoEducate]

Yeah I can look into that and see what I can come up with.

[@omgaddad5596]

@@IllustratetoEducate Thanks so much!

[@scottjones9216]

Excellent breakdown ! Beautiful !❤️

[@christopherclement2474]

You didn’t explain whose at fault you just gave the 2 perspectives

[@IllustratetoEducate]

In my videos I don’t typically force an opinion or perspective on people. I present different perspectives and let people decide which side makes more sense to them. If anything it’s a starting point for most people who have no idea what’s happening.

[@bleb87]

None of this explains fuel prices. Barrels of crude prices are nowhere close to what we are seeing at the pump so....

[@IllustratetoEducate]

Couldn’t the explanation of oil companies hiking prices to make stakeholders happy be one possible explanation why the prices don’t add up?

[@bleb87]

@@IllustratetoEducate nope. I thought this too but if you look at exxon for example. Theyre profit margins are at 8.07% exactly what they were in 2018 prepandemic. So they are not gouging, so I really dont understand it.

[@bleb87]

@@IllustratetoEducate btw thats how i found your video. Looking for an explaination that accounts for crude being reasonable, and lack of margin change. My only current theory is there is a lack of refinement of crude possibley due to employee shortages but i have no evidence for it.

[@truthseekerhuman]

from where you find these information

[@IllustratetoEducate]

From their platform and Wikipedia. All my videos have a sources section in the description.

[@SnakeAndTurtleQigong]

Very helpful, thanks!

[@Cpt_Guirk]

Like his drawings, this guy has a cartoon level of understanding. Line drawings are cool but they leave out a lot of detail.

[@IllustratetoEducate]

If you were looking for a detailed in-depth video on the topic, this video definitely wasn’t for you.

[@Cpt_Guirk]

@@IllustratetoEducate It doesn't have to be in depth but it shouldn't be so overly simplified as to mislead. You are using crude talking points that don't give an accurate assessment of the situation.

[@IllustratetoEducate]

@@Cpt_Guirk this is one viewpoint with a couple perspectives (that you don’t agree with which is fine) I’m not really interested in debating it, but others in comment section might be.

[@Cpt_Guirk]

@@IllustratetoEducate It's complex so to distill it down to a few debate points is futile and only reveals biases so I'm uninterested in that as well. I'm just suggesting that you shouldn't mislead your audience with oversimplifications. You have a talent and I admire your abilities. Here is just a few deeper points that need to be addressed to get a higher resolution picture of what's going on: 1. Changes in Crude Oil Prices Seasonal Changes Foreign Affairs International Trade Price Manipulation Currency Changes Advances in Technology Development in Emerging Countries 2. Changes in Refining Costs Lack of Capacity Planned Maintenance Unplanned Maintenance Natural Disasters Gas Reformulation 3. Problems With Distribution 4. Changes in the Gas Tax Federal & State Taxes The Impact of Carbon Taxes To say the administration isn't culpable in large part is ridiculous in light of this list. They are all interconnected.

[@davidwebb9752]

Next video focus on OPEC and the crony’s (politicians) who own shares with gas companies.

[@IllustratetoEducate]

True…😒

[@josuemendozanm505]

Trump 2024

[@MeikaiX]

I don't even know who to blame, I am a very objective person and I want to see facts from reliable sources to see what is going on. I just think that there can be a lot more action on the politicians' part to ensure that no terrible inflation like this happens again. I'm just not a big fan of capitalism after all, so basically these companies can just do whatever they want with the gas prices. They set the prices to whatever we want, since we need cars and gas because that's all we can use in America because there's no public transportation-we basically have to bite the bullet and pay for these terrible prices. There's just a terrible profit motive in things, we're basically being milked dry from our money. I don't know why corporations do this, if you keep draining money from people, they can't buy your stuff, and if you can't buy their stuff then there's gonna be no money to be made because they drained us from money. The politicians should be focusing on either making cars electric to preserve our planet or at least focus profits on making a large supply of oil to reduce prices. That's just me brainstorming.

[@dryerlint17]

"Not a big fan of capitalism". What alternative is better?

[@MeikaiX]

@@dryerlint17 I'm a Socialist. Just didn't wanna say it 👏

[@zed6740]

@@MeikaiX Careful now, a whole storm of bootlickers and red scare propagandists will be coming your way.

[@dryerlint17]

@@MeikaiX OK

[@paperfart3988]

@@MeikaiX history would demonstrate that socialism is not a good alternative lol

[@D1G1TALSYNAPS3]

Tell me you’re a democratic shill without telling me you’re a democratic shill.

[@rexrodecolt]

Boe jiden

[@davidunderwood4341]

Biden IS to blame at least in part. His negativity toward the oil companies makes them reluctant to push forward with production.

[@pmccoy8924]

He is 100% to blame. North America has the most oil in the world. 45 exported more than consumed. 46 now has doubled in a single year. Wait until it reflects goods and services. He already has the economy spiraling. Hold on tight. He single handedly could make this go away. This guy is simply a partisan hack cherry picked to make it appear as though 46 isn't a disaster. Deer in headlights.

[@LuckyNikitaBoba]

You believe what you want to believe.

[@calebcrayton2958]

Ur a 🤡 everything is not bidens fault

[@summergivens242]

It all boils down to the sanctions put on Russia from Biden.

[@LuckyNikitaBoba]

@@summergivens242 Obviously, you didn't watch the video.

[@josuemendozanm505]

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣. This is just soft bias!

[@babatata7780]

Pin me pls