Consumer Sentiment Hits 10-Year Low

[Ray From Cleveland]

Thanks to the pandemic I drive about 1300 miles less a month than I did 2 years ago, thus even with the higher prices at the pump I am still spending less on gas than I was. I keep my house pretty cold, just ask my son, so I will not bitch about that either. Then again if I was going to bitch about either of those things I am well informed enough to know the resident of the White House does not control those things. You all really seem to think the POTUS is some sort of god that controls the whole country

Yes he does control those things. When a President makes a stupid move the market responds as we have seen. If Trump were still our President gasoline would be back in the $2.00 range. As a former commodities trader, would you like me to explain how this all works?

While we heavily rely on imported products, we still make a lot of stuff domestically. When you get a party trying to create more government dependents and pay people money to stay home instead of work, industry is competing with government for workers. The only possible way to do that is dramatically increase wage offers. Those unnecessary extra costs are recouped by price increases on their products and services. When everybody is increasing prices, inflation takes place. On the other side of the candle, passing wasteful spending bills for Democrat goodies causes our government to have to print phony money. When they do the value of the dollar increases. When you have to pay more dollars to buy products, that too adds to inflation on top of manufacture price increases.

Yes, this is all done or approved by the President of the United States. So before you make a ridiculous statement like a President doesn't control these things, you better read up on them first.

 

[Weatherman2020]

Yes he does control those things. When a President makes a stupid move the market responds as we have seen. If Trump were still our President gasoline would be back in the $2.00 range. As a former commodities trader, would you like me to explain how this all works?

While we heavily rely on imported products, we still make a lot of stuff domestically. When you get a party trying to create more government dependents and pay people money to stay home instead of work, industry is competing with government for workers. The only possible way to do that is dramatically increase wage offers. Those unnecessary extra costs are recouped by price increases on their products and services. When everybody is increasing prices, inflation takes place. On the other side of the candle, passing wasteful spending bills for Democrat goodies causes our government to have to print phony money. When they do the value of the dollar increases. When you have to pay more dollars to buy products, that too adds to inflation on top of manufacture price increases.

Yes, this is all done or approved by the President of the United States. So before you make a ridiculous statement like a President doesn't control these things, you better read up on them first.

Brandon begs Putin to sell us oil while he hampers US production.

 

[Harpy Eagle]

If Trump were still our President gasoline would be back in the $2.00 range. As a former commodities trader, would you like me to explain how this all works?

yes please do. This should be fun.

 

[Ray From Cleveland]

I am not a huge Biden fan, I just think he is a much better human being than Trump and a better person to represent the country.

That's great. When you are paying all that money to heat your home this winter, remember you have a better human being than Trump in office.

 

[Harpy Eagle]

Brandon begs Putin to sell us oil while he hampers US production.

US production is up under Biden. It cratered under the last guy. Oh, and the last guy to Putin to slash production as well.

 

[Ray From Cleveland]

yes please do. This should be fun.

The price of fuel is controlled by the market. Traders, better known as speculators increase or decrease the price of fuel through contract purchases. You can purchase fuel contracts either way. If you believe the price is going to go lower, you buy short contracts. Price will increase, you buy long contracts.

When more long contracts are sold the price increases. Think of it like e-bay. You have a barrel of oil and put it on e-bay to sell. The more people bid on it, the higher the price goes and the more money you make.

When speculators suspect a shortage of product, of course they buy long contracts and the price of fuel keeps increasing. When Dementia closed down the Keystone the price increased. When he announced he's stopping all new drilling and exploration on public lands, it increased much more. When our largest oil pipeline was hacked by the Russians and Dementia stated it's a private matter not a public one, it increased more. Now that he's talking about closing a Canadian pipeline to Michigan, it increased slightly more. If he actually does it, fuel will increase a lot more.

Under Trump speculators were cautious because he was so pro-energy. If OPEC got out of hand, President Trump would have increased US production. Now that we have such an anti-energy President, OPEC realizes they are back in the drivers seat. They can decrease production and Dementia won't do a thing about it even though he has the ability to do so. Instead, he's begging OPEC and Russia to increase their production to make his environmentalist kook voters happy in the US that we're not producing more fuel.

 

[JWBooth]

Consumer Sentiment Hits 10-Year Low​

 

[Harpy Eagle]

The price of fuel is controlled by the market. Traders, better known as speculators increase or decrease the price of fuel through contract purchases. You can purchase fuel contracts either way. If you believe the price is going to go lower, you buy short contracts. Price will increase, you buy long contracts.

When more long contracts are sold the price increases. Think of it like e-bay. You have a barrel of oil and put it on e-bay to sell. The more people bid on it, the higher the price goes and the more money you make.

When speculators suspect a shortage of product, of course they buy long contracts and the price of fuel keeps increasing. When Dementia closed down the Keystone the price increased. When he announced he's stopping all new drilling and exploration on public lands, it increased much more. When our largest oil pipeline was hacked by the Russians and Dementia stated it's a private matter not a public one, it increased more. Now that he's talking about closing a Canadian pipeline to Michigan, it increased slightly more. If he actually does it, fuel will increase a lot more.

Under Trump speculators were cautious because he was so pro-energy. If OPEC got out of hand, President Trump would have increased US production. Now that we have such an anti-energy President, OPEC realizes they are back in the drivers seat. They can decrease production and Dementia won't do a thing about it even though he has the ability to do so. Instead, he's begging OPEC and Russia to increase their production to make his environmentalist kook voters happy in the US that we're not producing more fuel.

So, how does all this tie into Trump getting Russia and OPEC to slash production in 2020 so the prices would go back up? Does that not have any impact at all on what is happening today?

For all of Biden's anti-oil talk production in the US is up under him and his admin has approved more leases in a year than Trump ever did.

 

[Ray From Cleveland]

So, how does all this tie into Trump getting Russia and OPEC to slash production in 2020 so the prices would go back up? Does that not have any impact at all on what is happening today?

For all of Biden's anti-oil talk production in the US is up under him and his admin has approved more leases in a year than Trump ever did.

You have a link to that?

If you own one oil contract, every time it moves one dollar per barrel, you lose or make $1,000. If you have a long contract and it moves from $55.00 a barrel to $65.00 a barrel, you made ten grand. On the other hand, if it moves ten points the other way, you lose ten grand. It's not a game for kids because fuel speculators usually control multiple contracts--not just one.

That's why when I was in the market I stayed away from fuel. Way too risky. It's a rich mans game.

Now if Dementia increased oil (the kind of oil that's used to make gasoline) would you as a speculator buy long contracts? If he increased production, why are we no longer the worlds largest exporter for fuel in the world? Why would he be begging OPEC and Russia to increase their production?

 

[Harpy Eagle]

If he increased production, why are we no longer the worlds largest exporter for fuel in the world?

He did not increase oil production, the oil companies did. And because our oil production was slashed by 30% in 2020.

Why would he be begging OPEC and Russia to increase their production?

Maybe because Trump threatened them into cutting their production in 2020. Had that not taken place, Biden would not need to try and get them to produce more.

U.S. Crude Oil Production - Historical Chart

Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). Values shown are in thousands of barrels produced per day.

www.macrotrends.net

The yellow part is the decreased production I spoke of, and the red dot is Biden's first full month in office.

 

[Ray From Cleveland]

He did not increase oil production, the oil companies did. And because our oil production was slashed by 30% in 2020.



Maybe because Trump threatened them into cutting their production in 2020. Had that not taken place, Biden would not need to try and get them to produce more.

U.S. Crude Oil Production - Historical Chart

Interactive historical chart showing the monthly level of U.S. crude oil production back to 1983 from the US Energy Information Adminstration (EIA). Values shown are in thousands of barrels produced per day.

www.macrotrends.net

The yellow part is the decreased production I spoke of, and the red dot is Biden's first full month in office.

View attachment 564382

Look at your chart again. The reduction took place at the start of the recession caused by the virus when fuel usage dropped dramatically. They had to reduce production because the fuel market would have crashed if they didn't. Your chart is Fd up as well. How did Dementia take office in 2020? His first day in office was Janruary of 2021. Your red dot is way before that.

 

[Harpy Eagle]

Look at your chart again. The reduction took place at the start of the recession caused by the virus when fuel usage dropped dramatically. They had to reduce production because the fuel market would have crashed if they didn't.

Yes, I understand that. But you pretend like that cut in production that has for the most part not come back as demand has skyrocketed has no impact on the price of oil.

Your chart is Fd up as well. How did Dementia take office in 2020? His first day in office was Janruary of 2021. Your red dot is way before that.

Sorry the chart was too confusing for you. The years start in the middle of the two dates. I noticed you figured that out for the drop in production.

 

[Ray From Cleveland]

Yes, I understand that. But you pretend like that cut in production that has for the most part not come back as demand has skyrocketed has no impact on the price of oil.



Sorry the chart was too confusing for you. The years start in the middle of the two dates. I noticed you figured that out for the drop in production.

If you can't read your own chart get a ruler. Take one end of the ruler and place the edge on the red dot. With the other edge hold it straight down and tell me where it lands.

The cut in production does have an effect on price and as the economy has improved slightly, demand also increased.

 

[Harpy Eagle]

If you can't read your own chart get a ruler. Take one end of the ruler and place the edge on the red dot. With the other edge hold it straight down and tell me where it lands.

It lands right between the 2020 and the 2021 which is where the years start on this graph. Have you never seen a graph before?

The cut in production does have an effect on price and as the economy has improved slightly, demand also increased.

Finally, you got something correct.

 

[NoNukes]

That's great. When you are paying all that money to heat your home this winter, remember you have a better human being than Trump in office.

I live in Ireland, Biden has nothing to do with the cost of heating my home.

 

[Ray From Cleveland]

I live in Ireland, Biden has nothing to do with the cost of heating my home.

Then it's not a wonder why you spew the nonsense you spew. If you had to pay for all this you'd be singing a different tune.

 

[j-mac]

True, what is one more lie from you since that is all you ever post.

I am glad you can recognize it.

False, cute, but false non the less.

 

[Harpy Eagle]

False, cute, but false non the less.

yet you still cannot give even a single one....weird!

 

[j-mac]

yet you still cannot give even a single one....weird!

Why should I have to point out your idiocy? It’s here for all to see.

Just another TDS leftie.

 

[Harpy Eagle]

Why should I have to point out your idiocy? It’s here for all to see.

Just another TDS leftie.

Why should you support your own claims?

If you have to ask that, then it makes sense that you are a rabid partisan sheep.