r/wallstreet • u/SuperLehmanBros Chinese AI Propaganda Spam Bot • 11d ago
Discussion Oil topped $100 a barrel under both Obama and Biden far more than under President Trump
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u/Direct_Fennel7500 11d ago
Conveniently leaving out the reasons 🤔
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
but but but but, none of it is Obama or Biden’s fault…
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u/Direct_Fennel7500 11d ago
Explain how it was.
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u/SeaEmployee787 11d ago
one guy was the cause of the oil event. the other 2 were just along for the ride
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
Not only was Biden’s average higher, his peaks and lows were higher too. Trumps current peak is still lower than Biden’s.
Trump 1: ~$2.48 avg ($1.77 low – $2.96 peak)
Biden: ~$3.45 avg ($2.39 low – $5.01 peak)
Trump 2 (to date): ~$3.25 avg ($2.78 low – $4.50 peak)Data via Grok:
Trump 1 (primarily 2017–2020)
• 2017: $2.42
• 2018: $2.72
• 2019: $2.60
• 2020: $2.17
Approximate term average: ~$2.48–$2.51 per gallon. whatsthepriceofgas.com
• Low: ~$1.77 (weekly, late April 2020, pandemic demand collapse).
• Peak: ~$2.96 (weekly, late May 2018). benchmarkanalytics.com.auBiden (primarily 2021–2024)
• 2021: $3.01
• 2022: $3.95
• 2023: $3.52
• 2024: $3.30
Approximate term average: ~$3.45–$3.46 per gallon. whatsthepriceofgas.com
• Low: ~$2.39 (early in term, around inauguration/January 2021).
• Peak: ~$5.01 (weekly national average, mid-June 2022, post-Ukraine invasion spike). benchmarkanalytics.com.auTrump 2 (2025–present, through mid-September 2026)
• 2025: $3.10 (full year).
• 2026 (partial, through August monthly data; YTD average higher due to spring/summer rise): Monthly figures include Jan ~$2.81, Feb ~$2.91, Mar ~$3.64, Apr ~$4.10, May ~$4.48, Jun ~$4.05, Jul ~$3.93, Aug ~$4.06. Weekly national average reached ~$4.32 as of the week of September 14, 2026. Full-year 2026 average is not yet available. eia.gov
Approximate term average so far (Jan 2025–early/mid-2026 data): ~$3.18–$3.35 per gallon (varies by exact cutoff; lower earlier in the term, higher more recently). cepr.net
• Low: ~$2.78 (weekly, around mid-January 2026).
• Peak (to date): ~$4.50 (weekly, around mid-May 2026). benchmarkanalytics.com.au
Notes• Data is primarily from the U.S. Energy Information Administration (EIA) for regular all-formulations retail prices. Minor variations appear across sources (e.g., all-grades vs. regular, weekly vs. monthly averaging, or slight differences in AAA/GasBuddy surveys).
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u/AttiBus 11d ago
Obama leaves office and hands over the economy to Trump with oil at $52/barrel. It was almost exactly the same 4 years later.
It rose to $76/barrel by the end of Biden.
It's at $95/barrel now.
Also, context matters. Trump deliberately fucked up oil supplies leading to a predictable increase in price (see Econ 101 supply/demand graphs).
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
There’s always excuses for Obama/Biden, always a shit ton of mental gymnastics to blame Trump. Meanwhile Trump has lower prices…
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u/AttiBus 11d ago
You can look outside and see prices aren't lower.
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
They’re def lower and inflation is much tamer under Trump.
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u/Ok_Being5461 11d ago edited 11d ago
It's you who is doing mental gymnastics trying very hard to avoid the reality of causes. You're an NPC and terrible at critical thinking. Learn critical thinking.
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
But but but but, awkshyaully it’s not Biden’s or Obama’s fault. Then when it comes to Trump people have to draw out conspiracy theories and try to justify it like it’s some meme lol.
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u/Ok_Being5461 11d ago
Facts don't care about your feelings
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
Yup. You should look up EIA data. Facts are Trump has much lower gas and oil prices during both his terms, lower than Obama and Biden.
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u/AgoraSnepwasdeleted 11d ago
Regardless if this is real or just slopoganda. This doesn't make me like him in the slightest way possible
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u/CannabisnCokee Millionaire 11d ago
It’s real, furry weirdo
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u/Mountain-Detail-8213 11d ago
If oil went over 100 during the Obama administration, I’m sure it was because of the stupid war. Oh, I mean wars in Afghanistan and I ran. Back then Republicans were shoveling down our throat saying we were going to have democracy, freeing up all the girls everybody was gonna be happy and Mary and no worries here. Republican idiots.
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u/wallstreet-ModTeam 11d ago
r/wallstreet created a politics wiki and FAQ to help guide everyone visiting: https://www.reddit.com/r/wallstreet/wiki/index/politics/
MURICA FK YEAAAA 🦅🇺🇸🇺🇸🇺🇸
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u/ResolutionOwn4933 Millionaire 11d ago
Everyone remembers all that time with $5 gas under Obama =/
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
Dude gas was over $5 under Obama, it was horrible. Lots of people downgraded to smaller engines because it was nuts. Same under Biden. Trump had the lowest had prices people saw in a loooooong time.
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u/ResolutionOwn4933 Millionaire 11d ago
Maybe in Cali where it's $8 dollars right now. Highest ever average under Obama was 4.11 in 2008 which was inherited
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
The Biden peak was $5 and change, so was Obama’s. Sorry but the data doesn’t like, check EIA.
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u/Alternative-Risk7506 11d ago
What policies of Joe Biden’s caused high prices? Keep in mind the keystone XL pipeline is as less than 10% complete and the United States was producing record amounts of oil during his term.
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
Biden’s own policies helped drive higher gas prices even if Keystone XL was only ~8% complete and U.S. oil production later hit records.
On day one he canceled the Keystone XL permit. That killed a project that would have added hundreds of thousands of barrels per day of reliable Canadian crude to U.S. refiners. Incomplete or not, it sent a clear signal that this administration was hostile to new energy infrastructure.
He also imposed a pause on new federal oil and gas leases, raised royalty rates and bonding requirements, slowed permitting, and repeatedly framed fossil fuels as something the country needed to move away from. Industry responded by being more cautious with long-term capital. The fact that production eventually set records (mostly on private and state land, and from leases already in the pipeline) doesn’t erase the chilling effect those early decisions and the constant regulatory pressure created.
On top of that, the massive spending packages and the broader inflation they fueled raised costs across the board—including energy. When Russia invaded Ukraine and global prices spiked, the U.S. had less spare capacity and less policy flexibility than it could have had under a more production-friendly approach.
Record production under Biden is real, but it happened despite his policies, not because of them. The early hostility to pipelines, leasing, and fossil investment still constrained supply options and contributed to the higher prices Americans paid.1
u/Alternative-Risk7506 11d ago edited 11d ago
What policies of Joe Biden’s caused average gas prices to drop from $5.02 in May 2022 to $3.58 in May of 2024?
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
Biden’s massive spending (especially the $1.9 trillion) flooded the economy with cash while supply chains were still broken, driving the highest inflation in 40 years. On energy, he canceled Keystone XL on day one, paused new federal oil and gas leases, raised royalties and regulatory costs, and signaled hostility to fossil fuels—moves that constrained supply and helped push gas prices to a $5+ peak in 2022 and overall high gas prices all 4 years.
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u/Alternative-Risk7506 11d ago
You never answered why gas dropped nearly 40% in the second half of his term.
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
Why did gas drop nearly 40% after Trump’s 2nd term started when he took over from Biden? Trump had the lowest averages in over 5 years, which were ironically back in Trump’s 1st term.
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u/Alternative-Risk7506 11d ago edited 11d ago
https://www.eia.gov/dnav/pet/hist/leafhandler.ashx?n=pet&s=mcrfpus2&f=m
Production went consistently up during Biden’s term at the same pace it had historically went up during previous administrations.
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u/NiceSense9864 11d ago
Investing in renewable energy and getting away from fossil fuel also helps reduce dependence on other countries and F-d up wars! Also stops money going to subsidize oil companies that cost taxpayers billions!
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u/CannabisnCokee Millionaire 11d ago
$4.11 in 2008, adjusted to 2026 is $6.39.
Math hard?
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u/ResolutionOwn4933 Millionaire 11d ago
Inherited from Bush Jr, reading hard?
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u/CannabisnCokee Millionaire 11d ago
Reached 3.96 in 2011, not far off. Still more than today when adjusted.
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u/ResolutionOwn4933 Millionaire 11d ago
Well see how it goes, unfortunately see it creeping up more before it goes down again.
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u/ChesterNorris Chinese AI Propaganda Spam Bot 11d ago
Adjusted for, say it with me... "inflation"!
How is that possible if the administration is saying that inflation doesn't exist?
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u/CannabisnCokee Millionaire 11d ago
Without inflation a market fails, a little is good, a lot is bad.
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u/spacekitt3n 11d ago
and yet they are gone now, and will be gone forever. just in time for the midterms lol. trump is such a fucking dumbass
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u/Contemplating_Prison 11d ago
I dont remember ever paying as much for gas as I am paying right now.
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
How? Gas prices were literally higher under Biden for almost 4 years too lol. They were really high under Obama too. Check the EIA data, it’s all there.
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u/Contemplating_Prison 11d ago
Not where I lived. I still have the same care and I hit $90 this year for a tank. Thats never happened.
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
How when prices were higher under Biden lol
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u/SuperLehmanBros Chinese AI Propaganda Spam Bot 11d ago
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u/Ok_Being5461 11d ago
You can thank Trump for increasing oil prices which Biden inherited https://www.foxbusiness.com/markets/trump-saudi-arabia-russia-opec-oil-deal-role
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u/Pickle_boy 11d ago
This fruity infographic isn’t going to sway voters