The Dig on a History of Oil and Gas in America
07/07/22 • 114 min
We discuss our relationship with Oil, take a look at the history of oil from starting with our reliance on the Middle East, how it impacts our economy, and why the price is high. Plus we discuss alternatives and look at a few reports with differing views and some fun graphs.
Some facts for the graphs.
U.S. gasoline prices jumped from $1.37 to $2.37 per gallon in 2005 as the price of a barrel averaged about $60.
In 2008, oil prices rose to as high as $145 per barrel causing a search for alternate sources, and gas at the pump hit as high as $3.90 national average. By 2012, less than half the US oil consumption was imported, which took place under Obama, and in January 2015 decreased to around $50 per barrel gasoline fell to about $2.43 and then to a 20 year low of $2.14 in 2016, and have risen slightly since. After Trump took office in 2017, prices increased slowly, hitting $2.99 in May 2018 against a barrel cost of $74. After a slight dip in 2019, (oil companies made about $55 billion that year) prices fell sharply early in the COVID 19 pandemic, which of course was orchestrated by this podcast and our boss, George Soros, but raised quickly by may and increased steadily since then. When Biden was sworn in, the price per barrel of crude oil was $ 55, and the price at the pump was about $3 per gallon.
We discuss our relationship with Oil, take a look at the history of oil from starting with our reliance on the Middle East, how it impacts our economy, and why the price is high. Plus we discuss alternatives and look at a few reports with differing views and some fun graphs.
Some facts for the graphs.
U.S. gasoline prices jumped from $1.37 to $2.37 per gallon in 2005 as the price of a barrel averaged about $60.
In 2008, oil prices rose to as high as $145 per barrel causing a search for alternate sources, and gas at the pump hit as high as $3.90 national average. By 2012, less than half the US oil consumption was imported, which took place under Obama, and in January 2015 decreased to around $50 per barrel gasoline fell to about $2.43 and then to a 20 year low of $2.14 in 2016, and have risen slightly since. After Trump took office in 2017, prices increased slowly, hitting $2.99 in May 2018 against a barrel cost of $74. After a slight dip in 2019, (oil companies made about $55 billion that year) prices fell sharply early in the COVID 19 pandemic, which of course was orchestrated by this podcast and our boss, George Soros, but raised quickly by may and increased steadily since then. When Biden was sworn in, the price per barrel of crude oil was $ 55, and the price at the pump was about $3 per gallon.
Previous Episode
The Dig on the 2016 Election: Why Hillary Lost
Bernie Sanders voters and the 2016 Presidential Election and how this narrative that the Bernie Bros cost Hillary Clinton the presidency is not only going on far too long but also is false. In Mr Humble’s defense, I don’t think he knew the future.
But now, it’s the past, although it certainly seems to be still an ongoing campaign. But lets look at it, starting with outlining the events preceding the DNC convention.
Bernie built a coalition with a populist movement centered around workers rights, healthcare, raising the minimum wage and not accepting money from most PACs. The primary turned out to be more competitive than expected, with Clinton winning 55% to Sander’s 43%, and the races early in the primary were much closer, with Sanders leading at times. After losing California, The Sanders campaign released a video statement on June 16 and announced that Sanders looked forward to helping Clinton defeat Trump, officially endorsing her on July 12.
A week later, the Wiki Leaks story hit
https://www.vox.com/policy-and-politics/2017/8/24/16194086/bernie-trump-voters-study
https://www.businessinsider.com/hillary-clinton-pennsylvania-michigan-wisconsin-what-happened-2017-9
Next Episode
The Dig on Darlene McDonald for Congress
About Darlene McDonald: A Quaker, she currently serves on the board for the American Friends Service Committee as a member-at-large and on the Friends Relations Committee. Previously, she’s served as Outreach Director for the Utah Women’s Democratic Club — the oldest women’s Democratic club in the country, and on the board for Alliance for a Better Utah. In 2019, Ms. McDonald was elected Chair of the Utah Black Roundtable and served in that role for a one year term. In 2020, Ms. McDonald was elected to serve as the Democratic National Committeewoman for Utah.
Following the summer of protest after the murder of George Floyd in Minneapolis, Minnesota, Ms. McDonald was one of 6 community leaders appointed by Salt Lake City Mayor Erin Mendenhall to serve on the Salt Lake City Racial Equity in Policing Commission. Find all of her socials at @VoteDarlene as she looks to unseat Burgess Owens.
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