Gas prices $2.60 near me - Righty narratives flop

[whitehall]

Does the Biden administration have the power to punish Americans for their gas consumption and manipulate prices just before the election for political power? Lefties fall for it all the time.

 

[Marener]

Are you kidding?... Biden had the advantage of hindsight... and new information but he was intent on forcing people to vaccinate and made one bad move after another... Cuomo is going to be prosecuted for his role in covid and remember how you all thought he had things right and Trump was wrong?... come on man you are spinning your wheels...

As you said, the lockdowns made things worse because it gave the virus time to mutate. That’s what Biden was handed. A worse situation because of things that happened under Trump.

And yeah, vaccinating was by far the most effective was to save lives but by the time Biden took office, large swaths of conservatives decided to politicize the vaccine and refused to get it. Biden couldn’t force everyone to get the vaccine.

The biggest thing Trump did wrong was tell people it was no big deal when it clearly was.

I’m still trying to figure out what you think Biden did that got so many more people killed. What mistake did he make?

 

[otto105]

Made it to world markets, either through them, or, by proxy, us. I'm not denying it reached the world market, I am debating how much of it reached the US consumer, because as any good politician, president, or political debater should, they should seek maximum benefit for the US consumer first and foremost.

Whatever reached our markets we bought at world prices.

And again, it wasn’t our oil.

 

[TemplarKormac]

So what regulations mandated that oil be sold outside the country?

There are no mandates. There are laws that give the government the right to do with the oil it is sold as it pleases.

Per ChatGPT:

Amendments to the EPCA and related public laws over time have allowed for the strategic use of the SPR. For instance, Public Law 114-113 (the Consolidated Appropriations Act of 2016) and other budgetary laws have included provisions where oil from the SPR could be sold to meet budgetary needs or fund modernization efforts.

---

Energy Policy and Conservation Act (EPCA) of 1975​

• The EPCA was enacted following the 1973 oil crisis and established the Strategic Petroleum Reserve. This law grants the federal government the authority to store large quantities of crude oil to safeguard against potential disruptions in oil supply.
• Under this act, the government has the discretion to sell oil from the SPR when deemed necessary, such as during an energy crisis, economic disruptions, or when it benefits national interests.
• Sales can occur through competitive bidding processes and, under certain circumstances, include foreign buyers.

 

[TemplarKormac]

Whatever reached our markets we bought at world prices.

And again, it wasn’t our oil.

If oil reached our markets, the how is it not our oil? Whatever we bought was ours. The rest is exported under trade agreements with other countries.

Explain.

 

[Lesh]

There are no mandates. There are laws that give the government the right to do with the oil it is sold as it pleases.

Per ChatGPT:

Amendments to the EPCA and related public laws over time have allowed for the strategic use of the SPR. For instance, Public Law 114-113 (the Consolidated Appropriations Act of 2016) and other budgetary laws have included provisions where oil from the SPR could be sold to meet budgetary needs or fund modernization efforts.

---

Energy Policy and Conservation Act (EPCA) of 1975​

• The EPCA was enacted following the 1973 oil crisis and established the Strategic Petroleum Reserve. This law grants the federal government the authority to store large quantities of crude oil to safeguard against potential disruptions in oil supply.
• Under this act, the government has the discretion to sell oil from the SPR when deemed necessary, such as during an energy crisis, economic disruptions, or when it benefits national interests.
• Sales can occur through competitive bidding processes and, under certain circumstances, include foreign buyers.

On. The government can purchase oil at market prices

And?

 

[TemplarKormac]

Oil companies do that?

Since when?

Um, yeah. See #3.

Per ChatGPT:

Yes, the U.S. government does contract with oil companies in various ways related to the acquisition, storage, and sale of oil, particularly through the Strategic Petroleum Reserve (SPR). Here’s how these contractual relationships typically work:

1. Purchasing Oil for the SPR​

• The Department of Energy (DOE) manages the SPR, and when it needs to increase reserves, it contracts oil companies to purchase and deliver oil. This process involves competitive bidding to ensure that oil is procured at favorable market rates.

2. Sales of Oil from the SPR​

• When the U.S. government decides to release oil from the SPR, either due to policy decisions, economic needs, or emergency responses, it conducts competitive sales. Oil companies can bid to purchase oil from the SPR through these sales.
• The government may contract with oil companies to facilitate the logistics of these sales, including transportation and distribution.

3. Exchange Agreements​

• The U.S. government sometimes enters into exchange agreements with oil companies. In these cases, oil companies take oil from the SPR and agree to replace it at a later date, often with interest (additional oil). This can occur in situations where there is a short-term supply disruption.

4. Partnerships for Infrastructure and Maintenance​

• The DOE also contracts with oil companies and private entities for services related to the maintenance, infrastructure support, and operation of the SPR’s facilities to ensure readiness and security.

Contractual Mechanism​

The contracting process is guided by federal acquisition regulations and involves transparent, competitive processes that comply with public procurement laws. The DOE sets the terms for procurement or sale and invites oil companies to participate in these contracts based on qualifications and bids.

Private Oil Sales vs. Government Contracts​

It’s important to differentiate between oil sold by private companies in the U.S. (which can be exported freely after the 2015 lifting of the crude oil export ban) and oil sold directly by the government (such as from the SPR). The former is done by private oil companies independently, while the latter involves contracts and oversight by the government for specific purposes.

 

[LeftofLeft]

The Dot-Com recession started in March 2021 and lasted until November same year.

The Great Recession started in December 2007 and lasted until June 2009. Or about 5 months into President Obama’s two terms.

So, you need to learn the facts and not be a garbage maga fuckup.

Dot Com Bubble burst and stock plummet began in 2000 before Bush took office. Since you want to cling to the March 2001 start date, Bush was only President for about 40 days. What did he do to cause that first recession?

 

[otto105]

If oil reached our markets, the how is it not our oil? Whatever we bought was ours. The rest is exported under trade agreements with other countries.

Explain.

Corporations transport Canadian oil to refineries in Texas. The corporations that own the transportation charge for it. The Canadian government contracts with oil transportation or refineries to make gasoline or diesel and sell it at world markets.

We don’t own it.

Why would you assume that.

 

[TemplarKormac]

But wait… if the lack of that pipeline prevented only 3% of what would have gone through it from getting here… how was supply restricted

Confusing huh?

Per ChatGPT:

A 3% reduction in the supply of crude oil reaching the U.S. market could have a significant impact on domestic gas markets, depending on the overall market conditions at the time. Here’s how a 3% supply change might affect the market:

1. Scale of Impact​

• 3% of Total Supply: In the context of U.S. oil consumption, which is approximately 20 million barrels per day, a 3% reduction would translate to a loss of about 600,000 barrels per day. Over a year, this equates to approximately 219 million barrels not reaching the market.
• Such a decrease in supply can create an imbalance between supply and demand, especially if existing production and import capacities cannot quickly compensate for the shortfall.

2. Price Sensitivity​

• Oil Market Volatility: The oil and gas markets are highly sensitive to changes in supply. Even small reductions in supply can lead to disproportionate price increases due to the inelastic nature of short-term demand for gasoline and other petroleum products.
• Historical Precedents: Similar disruptions in the past, such as geopolitical events or natural disasters, have shown that even modest supply losses can lead to noticeable price spikes. For example, disruptions of less than 5% of global oil supply have historically led to price surges ranging from 10-20% or more.

3. Ripple Effects on Gas Prices​

• Increased Costs for Consumers: A decrease in supply typically results in higher prices for crude oil, which directly translates to higher gasoline prices at the pump. A sustained 3% reduction in supply could contribute to price increases depending on how tight the market is and the current levels of domestic and global oil inventories.
• Inflationary Pressure: An increase in fuel prices can have a broader inflationary impact, raising transportation and production costs across the economy.

4. Mitigating Factors​

• Strategic Petroleum Reserve (SPR): The U.S. government could use the SPR to offset temporary supply disruptions. However, the effectiveness of this response depends on the duration and extent of the disruption.
• Increased Production: If domestic oil producers have spare capacity, they could potentially ramp up production to compensate for the 3% loss. This is often limited by logistical and economic factors.

Overall Market Impact​

• Significant but Manageable: A 3% loss could have a substantial short-term impact on gas prices and market stability, particularly if the market is already tight or global oil production is constrained. The response of other oil producers, global market conditions, and government policies would play a critical role in determining the full extent of the impact.
• Price Increases: While difficult to predict precisely, a 3% supply loss could potentially lead to gas price increases of several cents to tens of cents per gallon at the pump, depending on current market conditions.

In summary, while a 3% reduction in crude oil supply might sound small, it can significantly impact prices due to the sensitive nature of oil markets. The extent of the effect would depend on current global oil supply, demand elasticity, and available measures to counterbalance the loss.

Furthermore, per ChatGPT, on the economic impact the pipeline would have had on the 2021 economy, still reeling from COVID:


The potential economic impact of the Keystone XL pipeline's completion and the resulting decrease in gasoline prices would likely have been multifaceted, affecting consumers, businesses, and overall economic activity. Here are several key points to consider regarding the overall economic impact:

1. Consumer Savings​

• Increased Disposable Income: The estimated savings of approximately $1.40 per fill-up for consumers would mean that households have more disposable income to spend on other goods and services. With millions of drivers in the U.S., this aggregate savings could contribute to increased consumer spending, which is a major driver of economic growth.
• Estimation of Total Consumer Savings:
  • If, for example, 200 million vehicles are on the road and each vehicle fills up once a week, the total savings could be substantial.
  • Assuming an average of 4 fill-ups per month, the monthly savings per vehicle could be about: $1.40 USD×4 fill-ups=$5.60 USD $1.40USD times 4 fill-ups = $5.60 USD
  • Thus, total savings across all vehicles in a month: $5.60USD x 200,000,000 vehicles = $1,120,000,000 USD (or approximately $1.12 billion)
  • Annually, this could equate to roughly $13.44 billion in additional disposable income for consumers.

 

[TemplarKormac]

Per ChatGPT:

A 3% reduction in the supply of crude oil reaching the U.S. market could have a significant impact on domestic gas markets, depending on the overall market conditions at the time. Here’s how a 3% supply change might affect the market:

1. Scale of Impact​

• 3% of Total Supply: In the context of U.S. oil consumption, which is approximately 20 million barrels per day, a 3% reduction would translate to a loss of about 600,000 barrels per day. Over a year, this equates to approximately 219 million barrels not reaching the market.
• Such a decrease in supply can create an imbalance between supply and demand, especially if existing production and import capacities cannot quickly compensate for the shortfall.

2. Price Sensitivity​

• Oil Market Volatility: The oil and gas markets are highly sensitive to changes in supply. Even small reductions in supply can lead to disproportionate price increases due to the inelastic nature of short-term demand for gasoline and other petroleum products.
• Historical Precedents: Similar disruptions in the past, such as geopolitical events or natural disasters, have shown that even modest supply losses can lead to noticeable price spikes. For example, disruptions of less than 5% of global oil supply have historically led to price surges ranging from 10-20% or more.

3. Ripple Effects on Gas Prices​

• Increased Costs for Consumers: A decrease in supply typically results in higher prices for crude oil, which directly translates to higher gasoline prices at the pump. A sustained 3% reduction in supply could contribute to price increases depending on how tight the market is and the current levels of domestic and global oil inventories.
• Inflationary Pressure: An increase in fuel prices can have a broader inflationary impact, raising transportation and production costs across the economy.

4. Mitigating Factors​

• Strategic Petroleum Reserve (SPR): The U.S. government could use the SPR to offset temporary supply disruptions. However, the effectiveness of this response depends on the duration and extent of the disruption.
• Increased Production: If domestic oil producers have spare capacity, they could potentially ramp up production to compensate for the 3% loss. This is often limited by logistical and economic factors.

Overall Market Impact​

• Significant but Manageable: A 3% loss could have a substantial short-term impact on gas prices and market stability, particularly if the market is already tight or global oil production is constrained. The response of other oil producers, global market conditions, and government policies would play a critical role in determining the full extent of the impact.
• Price Increases: While difficult to predict precisely, a 3% supply loss could potentially lead to gas price increases of several cents to tens of cents per gallon at the pump, depending on current market conditions.

In summary, while a 3% reduction in crude oil supply might sound small, it can significantly impact prices due to the sensitive nature of oil markets. The extent of the effect would depend on current global oil supply, demand elasticity, and available measures to counterbalance the loss.

Furthermore, per ChatGPT, on the economic impact the pipeline would have had on the 2021 economy, still reeling from COVID:


The potential economic impact of the Keystone XL pipeline's completion and the resulting decrease in gasoline prices would likely have been multifaceted, affecting consumers, businesses, and overall economic activity. Here are several key points to consider regarding the overall economic impact:

1. Consumer Savings​

• Increased Disposable Income: The estimated savings of approximately $1.40 per fill-up for consumers would mean that households have more disposable income to spend on other goods and services. With millions of drivers in the U.S., this aggregate savings could contribute to increased consumer spending, which is a major driver of economic growth.
• Estimation of Total Consumer Savings:
  • If, for example, 200 million vehicles are on the road and each vehicle fills up once a week, the total savings could be substantial.
  • Assuming an average of 4 fill-ups per month, the monthly savings per vehicle could be about: $1.40 USD×4 fill-ups=$5.60 USD $1.40USD times 4 fill-ups = $5.60 USD
  • Thus, total savings across all vehicles in a month: $5.60USD x 200,000,000 vehicles = $1,120,000,000 USD (or approximately $1.12 billion)
  • Annually, this could equate to roughly $13.44 billion in additional disposable income for consumers.

Furthermore, from ChatGPT:

The 3% decrease in crude oil supply that would result from Keystone XL's non-completion could have led to an overall loss of disposable income for U.S. consumers ranging from approximately $1.06 billion to $3.26 billion annually, based on the total added cost from higher gasoline prices. This reflects the cumulative effect on consumers' ability to spend money on other goods and services due to increased fuel costs.

----

Does that answer your question? I doubt it does.

 

[TemplarKormac]

Corporations transport Canadian oil to refineries in Texas. The corporations that own the transportation charge for it. The Canadian government contracts with oil transportation or refineries to make gasoline or diesel and sell it at world markets.

We don’t own it.

Why would you assume that.

This is why. I'm using ChatGPT here, because of brevity concerns. Because since almost all of it would have been crude oil, refineries here in the US would have had to refine it to the usable product. While the crude is Canadian, the refined product is US.

Canadian Oil and U.S. Market​

• Market Dynamics: While Canadian oil is technically "Canadian" until it's sold or refined within the U.S., in practice, the two nations’ oil industries are highly integrated. The oil transported via pipelines such as Keystone XL would feed into the larger U.S. energy market, influencing domestic oil supply and prices.
• Refining and Distribution: Once in the U.S., Canadian oil might be refined alongside domestic oil, and the gasoline or refined products would be distributed across the U.S. domestic market, often indistinguishable from other sources in terms of consumer-facing pricing and availability

 

[Lesh]

Per ChatGPT:

A 3% reduction in the supply of crude oil reaching the U.S. market could have a significant impact on domestic gas markets, depending on the overall market conditions at the time. Here’s how a 3% supply change might affect the market:

1. Scale of Impact​

• 3% of Total Supply: In the context of U.S. oil consumption, which is approximately 20 million barrels per day, a 3% reduction would translate to a loss of about 600,000 barrels per day. Over a year, this equates to approximately 219 million barrels not reaching the market.
• Such a decrease in supply can create an imbalance between supply and demand, especially if existing production and import capacities cannot quickly compensate for the shortfall.

2. Price Sensitivity​

• Oil Market Volatility: The oil and gas markets are highly sensitive to changes in supply. Even small reductions in supply can lead to disproportionate price increases due to the inelastic nature of short-term demand for gasoline and other petroleum products.
• Historical Precedents: Similar disruptions in the past, such as geopolitical events or natural disasters, have shown that even modest supply losses can lead to noticeable price spikes. For example, disruptions of less than 5% of global oil supply have historically led to price surges ranging from 10-20% or more.

3. Ripple Effects on Gas Prices​

• Increased Costs for Consumers: A decrease in supply typically results in higher prices for crude oil, which directly translates to higher gasoline prices at the pump. A sustained 3% reduction in supply could contribute to price increases depending on how tight the market is and the current levels of domestic and global oil inventories.
• Inflationary Pressure: An increase in fuel prices can have a broader inflationary impact, raising transportation and production costs across the economy.

4. Mitigating Factors​

• Strategic Petroleum Reserve (SPR): The U.S. government could use the SPR to offset temporary supply disruptions. However, the effectiveness of this response depends on the duration and extent of the disruption.
• Increased Production: If domestic oil producers have spare capacity, they could potentially ramp up production to compensate for the 3% loss. This is often limited by logistical and economic factors.

Overall Market Impact​

• Significant but Manageable: A 3% loss could have a substantial short-term impact on gas prices and market stability, particularly if the market is already tight or global oil production is constrained. The response of other oil producers, global market conditions, and government policies would play a critical role in determining the full extent of the impact.
• Price Increases: While difficult to predict precisely, a 3% supply loss could potentially lead to gas price increases of several cents to tens of cents per gallon at the pump, depending on current market conditions.

In summary, while a 3% reduction in crude oil supply might sound small, it can significantly impact prices due to the sensitive nature of oil markets. The extent of the effect would depend on current global oil supply, demand elasticity, and available measures to counterbalance the loss.

Furthermore, per ChatGPT, on the economic impact the pipeline would have had on the 2021 economy, still reeling from COVID:


The potential economic impact of the Keystone XL pipeline's completion and the resulting decrease in gasoline prices would likely have been multifaceted, affecting consumers, businesses, and overall economic activity. Here are several key points to consider regarding the overall economic impact:

1. Consumer Savings​

• Increased Disposable Income: The estimated savings of approximately $1.40 per fill-up for consumers would mean that households have more disposable income to spend on other goods and services. With millions of drivers in the U.S., this aggregate savings could contribute to increased consumer spending, which is a major driver of economic growth.
• Estimation of Total Consumer Savings:
  • If, for example, 200 million vehicles are on the road and each vehicle fills up once a week, the total savings could be substantial.
  • Assuming an average of 4 fill-ups per month, the monthly savings per vehicle could be about: $1.40 USD×4 fill-ups=$5.60 USD $1.40USD times 4 fill-ups = $5.60 USD
  • Thus, total savings across all vehicles in a month: $5.60USD x 200,000,000 vehicles = $1,120,000,000 USD (or approximately $1.12 billion)
  • Annually, this could equate to roughly $13.44 billion in additional disposable income for consumers.

If ya can’t dazzle em with brilliance baffle em with bullshit

And nary a link for all that shit

 

[Orangecat]

Is Covid shut downs coming back today?

“Are”, not “is”, dumbass.

 

[Lesh]

“Are”, not “is”, dumbass.

That was important…

 

[pknopp]

That was important…

I should have been better with my Grammer but point still stands.

 

[bigrebnc1775]

Inflation also does not happen overnight.

The Federal Reserve flooded our economy with money during the pandemic, as did Congress and Trump. In fact, Trump wanted more stimulus than even the Democrats wanted.

The Fed printed $4.42 trillion from 2020 to 2022.

There's your inflation.


Then, after the pandemic, demand for goods went through the roof and the supply chain was overwhelmed.

There's your inflation on steroids.

To make matters worse, the Fed ignored the warning signs, assuming the rising inflation was transitory.

Nothing to do with Biden. But your propagandists never told you these basic economic facts.

Yep it took Biden Harris almost a year to get it to 10%

 

[daveman]

2020? What was happening in 2020?

You want Covid shutdowns back?

Nope. I want Trump's economy back.

 

[daveman]

Democrats will insist she's not a real woman.

 

[daveman]

I’m accusing that woman of lying

Why do you believe she's lying?