Who sets the price of oil and gas?


If you chose governments that set gas/oil prices. You are part of the problem. OPEC does and that is not a government entity.

@hackdefendr It's not a government entity, but it's members are largely countries with nationalized or largely nationalized oil production. The OPEC members (traditionally, perhaps less so lately) tend to coorperate to adjust production to keep prices reasonably high, however the levers they have to pull seem to be shrinking in significance.

The US isn't part of OPEC, but our government still attempts to influence prices by either adding to or selling from the SPR


Well all that is true, but, the point I was trying to make is that the U.S. President does not have the power to change or even impact gas prices. There is no magic lever for him to pull that will suddenly make prices go down.

People still to this very day will vote against the current POTUS because of gas prices being too high despite the above fact.

When I saw so many voting in your poll for government it sparked a response.

@hackdefendr @jerry in the uk, quite a large percentage of what consumers end up paying for energy (fuel in particular) is made up of tax (52%), something our government has direct control over, they may not directly set the price of the raw product, but I can't influence that, I can influence (to a degree) what my government taxes. I didn't vote in the poll, so maybe I shouldn't voice my opinion ;-) also, I have an electric car and most of my energy comes directly from the the great ball of fire in the sky!

In France, half the price of oil is taxes. At the end of the day, the government is directly responsible of the price I pay as a consumer, whatever the price of the barrel.

@x_cli @jerry

OK that is in France and probably the same in the U.S. But I was talking about the powers of one man, the U.S. President. Who does not have the power to adjust gas prices simply by the stroke of a pen. Congress controls the money in the U.S.

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