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Fuel Savings = Honda payment

Please reference this "law" that the President allows the export of crude oil. In 2015 Congress lifted a 40 year old ban on oil exports dating from reaction to the OPEC oil embargoes in the early 1970s. It is not currently against US law to export domestic crude oil and there is no current legislation in the House or Senate working to ban it again. Research shows that US policy or law has not changed since Congress passed the Consolidated Appropriations Act HR 2016 in December 2015. There are elements that see it in their favor to lay high gas prices on the White House but facts do not support their cause.

Oil is traded, refined, and distributed on a global scale. Domestic US policy has little to no effect on gas prices in the short and medium term except in the echo chamber that is the internet.
I think the Act that is being referenced is the Energy Policy and Conservation Act. There is legislation in committee through the "Ban Oil Exports Act" proposing exactly what the title suggests...unless it died, but it was an active piece of legislation. I think the Defense Production Act gives the president the authority to ban exports of any category, if I understood an article I read in the recent past. I disagree , respectfully, that domestic policy has no impact on fuel prices. Policy influences production, positively or negatively, with correlating impacts upon prices. That is only if we are considering energy production policy. Broader application of economic policies (QE, interest, etc.) has a substantial and meaningful impact on all energy prices, not just oil, near-short-strategic. I agree completely that oil and gas are complex global commodities though and domestic policies are only a part of the equation that has to be considered.
 
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I think the Act that is being referenced is the Energy Policy and Conservation Act. There is legislation in committee through the "Ban Oil Exports Act" proposing exactly what the title suggests...unless it died, but it was an active piece of legislation. I think the Defense Production Act gives the president the authority to ban exports of any category, if I understood an article I read in the recent past. I disagree , respectfully, that domestic policy has no impact on fuel prices. Policy influences production, positively or negatively, with correlating impacts upon prices. That is only if we are considering energy production policy. Broader application of economic policies (QE, interest, etc.) has a substantial and meaningful impact on all energy prices, not just oil, near-short-strategic. I agree completely that oil and gas are complex global commodities though and domestic policies are only a part of the equation that has to be considered.
Respectfully I did not say US domestic policy does not impact gas prices altogether. I specified a time frame. The ripples in gasoline prices have come in roughly three waves based on current and past domestic and world events. First the early 2020 pandemic lockdowns and collapse of gasoline demand which drove producers to reduce supply and production capacity. Personal and commercial recreational travel came to a near standstill in 2020 but consumers shifted gears and spent their paychecks boosted by CARES Act money online. Their staycation Wayfair & Amazon sofas, gas grills, and pallets of flooring tile were delivered to their homes by truckers busting records scrambling for transportation capacity which further beat up gasoline and diesel supplies. January 2021 came the vaccines and lifting of C-19 mandates coupled with Covid weariness. By summer of 2021 cooped up people want to go places in airplanes and their cars. Gas demand shot up again in the face of 2020's lingering low supply and scaled back production problems. 2021's supply chain disruptions hobbled gasoline producers trying to ramp up production further widening the gap between demand and supply. In February 2022 Russia, one of the world's largest oil producers, invaded Ukraine and much of the industrialized world slapped sanctions on Russian oil further reducing supply. This chain of events happened outside the purview of domestic energy policy decisions and US leadership and were short term events that all happened consecutively in less than two years.

So what if we ban domestic crude oil exports again tomorrow or 3 months ago? Demand and supply remain at the crux of rising pump prices. So what happens if the US has 20% more crude staying right here at home. Domestic refiners and producers are running today at or near 100% of available refinery capacity. They have little ability to increase gasoline production to meet burgeoning summer 2022 demand and the time line to significantly increase capacity is measured in many months or years. Are there new refineries being built today? There has been little incentive for refiners in recent years to add capacity. The first early season Gulf of Mexico hurricane that takes aim at Texas or Louisiana will spike prices in anticipation of loss of refining capacity and boost profits. Then where are the additional bulk gasoline tanker trucks going to come from to get the gas from storage tank terminals to Anytown USA? Bulk carriers are running at 100% capacity. I work for a trucking company and if we place orders for tractors and trailers today the delivery date is 4thQ 2023.

It is a very complex problem and won't be solved by the "Biden did this" stickers popping up on gas pumps across the country. In retrospect the 2015 lifting of the export ban allowed domestic crude producers to charge more relative to cheaper imported oil which boosted their profits but reduced margins of refiners that had to pay more for crude. Since the price of refined products like gasoline traded in global commodities is set those markets domestic refiners can't just raise the pump price to recover the lost margin.... wholesale fuel buyers just shift to cheaper foreign-refined gas. Being in Florida we get a lot of imported gasoline from tank farms like the Buckeye Hub in the Bahamas which hurts US refinery workers and reduces incentive to boost refining capacity. It's a sticky wicket.
 
Respectfully I did not say US domestic policy does not impact gas prices altogether. I specified a time frame. The ripples in gasoline prices have come in roughly three waves based on current and past domestic and world events. First the early 2020 pandemic lockdowns and collapse of gasoline demand which drove producers to reduce supply and production capacity. Personal and commercial recreational travel came to a near standstill in 2020 but consumers shifted gears and spent their paychecks boosted by CARES Act money online. Their staycation Wayfair & Amazon sofas, gas grills, and pallets of flooring tile were delivered to their homes by truckers busting records scrambling for transportation capacity which further beat up gasoline and diesel supplies. January 2021 came the vaccines and lifting of C-19 mandates coupled with Covid weariness. By summer of 2021 cooped up people want to go places in airplanes and their cars. Gas demand shot up again in the face of 2020's lingering low supply and scaled back production problems. 2021's supply chain disruptions hobbled gasoline producers trying to ramp up production further widening the gap between demand and supply. In February 2022 Russia, one of the world's largest oil producers, invaded Ukraine and much of the industrialized world slapped sanctions on Russian oil further reducing supply. This chain of events happened outside the purview of domestic energy policy decisions and US leadership and were short term events that all happened consecutively in less than two years.

So what if we ban domestic crude oil exports again tomorrow or 3 months ago? Demand and supply remain at the crux of rising pump prices. So what happens if the US has 20% more crude staying right here at home. Domestic refiners and producers are running today at or near 100% of available refinery capacity. They have little ability to increase gasoline production to meet burgeoning summer 2022 demand and the time line to significantly increase capacity is measured in many months or years. Are there new refineries being built today? There has been little incentive for refiners in recent years to add capacity. The first early season Gulf of Mexico hurricane that takes aim at Texas or Louisiana will spike prices in anticipation of loss of refining capacity and boost profits. Then where are the additional bulk gasoline tanker trucks going to come from to get the gas from storage tank terminals to Anytown USA? Bulk carriers are running at 100% capacity. I work for a trucking company and if we place orders for tractors and trailers today the delivery date is 4thQ 2023.

It is a very complex problem and won't be solved by the "Biden did this" stickers popping up on gas pumps across the country. In retrospect the 2015 lifting of the export ban allowed domestic crude producers to charge more relative to cheaper imported oil which boosted their profits but reduced margins of refiners that had to pay more for crude. Since the price of refined products like gasoline traded in global commodities is set those markets domestic refiners can't just raise the pump price to recover the lost margin.... wholesale fuel buyers just shift to cheaper foreign-refined gas. Being in Florida we get a lot of imported gasoline from tank farms like the Buckeye Hub in the Bahamas which hurts US refinery workers and reduces incentive to boost refining capacity. It's a sticky wicket.
There is definitely a lot of micro and macro factors involved but it doesn’t appear as if anyone is looking out for the little guy these days. On a lighter, satirical note…

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Respectfully I did not say US domestic policy does not impact gas prices altogether. I specified a time frame. The ripples in gasoline prices have come in roughly three waves based on current and past domestic and world events. First the early 2020 pandemic lockdowns and collapse of gasoline demand which drove producers to reduce supply and production capacity. Personal and commercial recreational travel came to a near standstill in 2020 but consumers shifted gears and spent their paychecks boosted by CARES Act money online. Their staycation Wayfair & Amazon sofas, gas grills, and pallets of flooring tile were delivered to their homes by truckers busting records scrambling for transportation capacity which further beat up gasoline and diesel supplies. January 2021 came the vaccines and lifting of C-19 mandates coupled with Covid weariness. By summer of 2021 cooped up people want to go places in airplanes and their cars. Gas demand shot up again in the face of 2020's lingering low supply and scaled back production problems. 2021's supply chain disruptions hobbled gasoline producers trying to ramp up production further widening the gap between demand and supply. In February 2022 Russia, one of the world's largest oil producers, invaded Ukraine and much of the industrialized world slapped sanctions on Russian oil further reducing supply. This chain of events happened outside the purview of domestic energy policy decisions and US leadership and were short term events that all happened consecutively in less than two years.

So what if we ban domestic crude oil exports again tomorrow or 3 months ago? Demand and supply remain at the crux of rising pump prices. So what happens if the US has 20% more crude staying right here at home. Domestic refiners and producers are running today at or near 100% of available refinery capacity. They have little ability to increase gasoline production to meet burgeoning summer 2022 demand and the time line to significantly increase capacity is measured in many months or years. Are there new refineries being built today? There has been little incentive for refiners in recent years to add capacity. The first early season Gulf of Mexico hurricane that takes aim at Texas or Louisiana will spike prices in anticipation of loss of refining capacity and boost profits. Then where are the additional bulk gasoline tanker trucks going to come from to get the gas from storage tank terminals to Anytown USA? Bulk carriers are running at 100% capacity. I work for a trucking company and if we place orders for tractors and trailers today the delivery date is 4thQ 2023.

It is a very complex problem and won't be solved by the "Biden did this" stickers popping up on gas pumps across the country. In retrospect the 2015 lifting of the export ban allowed domestic crude producers to charge more relative to cheaper imported oil which boosted their profits but reduced margins of refiners that had to pay more for crude. Since the price of refined products like gasoline traded in global commodities is set those markets domestic refiners can't just raise the pump price to recover the lost margin.... wholesale fuel buyers just shift to cheaper foreign-refined gas. Being in Florida we get a lot of imported gasoline from tank farms like the Buckeye Hub in the Bahamas which hurts US refinery workers and reduces incentive to boost refining capacity. It's a sticky wicket.
We're on the same sheet of music for the most part. The reference to the CARES act goes to my point about broader economic policies having a substantial impact upon fuel prices. I didn't say a ban would decrease oil and gas prices. The question was what law gives the president [government] authority to ban exports and the position was that there is no pending legislation; the act and pending legislation were cited without opinion as to their influence on gas prices. As an investor in oil, I think a ban might increase crude oil prices as we're not set up to refine the majority of the crude we produce the most of here in the USA.

There are many government leaders who are to blame, Biden and Trump both included in my opinion, for not war-gaming this out far enough, and early enough. Well, who knows; maybe they did and decided that this was the end they were trying to achieve.
 
I would be lying if I said me deciding to place an order a few weeks ago for my NC750X wasn't influenced by gas prices. My Tacoma gets 24 MPG on a really good day. I drive around 70 miles per day total for my commute. I love where I live now, but I am missing my 20-mile commute more every day.
 
The repeal you cited,dduelin, the Crude Oil Export Act, expressly grants the president authority to ban crude oil export. The authority is time-limited, but renewable (thus effectively not time-limited) during "periods of national emergency."
 
I would be lying if I said me deciding to place an order a few weeks ago for my NC750X wasn't influenced by gas prices. My Tacoma gets 24 MPG on a really good day. I drive around 70 miles per day total for my commute. I love where I live now, but I am missing my 20-mile commute more every day.
I moved out to a rural area while I was working. So I went from a 5 minute commute to 35 minutes on the highway each way. I still live out here, loving it, but if I was still working I'd be commuting on the bike every day possible. One really nice thing about the NC, in addition to being a great ride, it gets amazing fuel economy.

FWIW, the folks at Adventure Rider rank the NC750x as one of the most economical bikes they've tested. Tied for 4th place. https://www.advrider.com/save-your-wallet-at-the-pumps/
 
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The repeal you cited,dduelin, the Crude Oil Export Act, expressly grants the president authority to ban crude oil export. The authority is time-limited, but renewable (thus effectively not time-limited) during "periods of national emergency."
MZ5, thanks for the reply. I did find the reference you gave and in periods of national emergency the President or Secretary of Commerce does have the ability to impose a ban on certain domestically sourced oil exports not to exceed 1 year and it is renewable for 1 more year. Measuring the pros and cons of lifting the ban on exports I disagree that the results of doing so would reduce pump prices for reasons already stated. The debate pro and con leading up to the Act's passage was vigorous and both sides made good points though the lobby for free trade won the day and apparently still holds sway.
 
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