Global Warming (Assuming It's Happening) is a Blessing From God

[expat_panama]

This has happened before ... and there wasn't any gasoline for any money ... if you remember 30¢/gal, then you remember the OPEC oil embargoes ... gas stations closed ...

Right, some folks say the reason that the gas stations closed was because the world had run out of oil and there would never be any more oil any more. Others said the shortage was caused by Nixon's gas price controls.

My hope is that you're aware that whenever the government decrees a selling price lower than the market supply and demand price that there are shortages. When there controls were lifted there was plenty of gasoline from the rising prices which in turn led to a supply surge which brought about falling prices back down to where they were before the "crisis".

Please forgive the chart, I'm aware that many don't like numbers but my experience is that being happy with numbers makes me rich. Hard habit to set aside.

 

[expat_panama]

Oil is unlike other commodities. It’s used by everyone and there is no competition. It’s sold strictly by the affluence of the region priced accordingly. Oil companies will sell heating for example at a loss in some areas just to have it available then Jack up the price in others to maintain their overall profitability.

You're right about oil being unique as all commodities are distinct. Also, you're not acknowledging what I was stressing about time frames and that's fine too, It's good that we don't quarrel about minor points.

 

[Crick]

You're right about oil being unique as all commodities are distinct. Also, you're not acknowledging what I was stressing about time frames and that's fine too, It's good that we don't quarrel about minor points.

The real cost of drilling a hole a hundred feet deep in Oklahoma is enormously less than the cost of drilling one a thousand feet deep in a thousand feet of water in the middle of the North Sea. Oil is a finite resource and it is becoming more difficult to locate and more difficult to extract and process. The real cost of petroleum has gone up and will continue to go up in a roughly logarithmic manner.

 

[Dagosa]

You're right about oil being unique as all commodities are distinct. Also, you're not acknowledging what I was stressing about time frames and that's fine too, It's good that we don't quarrel about minor points.

Of course. Inflation is built into the modern economy. Otherwise, no one would invest money in the market. But if you look at oil prices relative to wages, it’s still a good deal. The only way to bring it down further, is that fighting word, “ competition”, from renewables.

 

[ReinyDays]

Right, some folks say the reason that the gas stations closed was because the world had run out of oil and there would never be any more oil any more. Others said the shortage was caused by Nixon's gas price controls.

My hope is that you're aware that whenever the government decrees a selling price lower than the market supply and demand price that there are shortages. When there controls were lifted there was plenty of gasoline from the rising prices which in turn led to a supply surge which brought about falling prices back down to where they were before the "crisis".
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Please forgive the chart, I'm aware that many don't like numbers but my experience is that being happy with numbers makes me rich. Hard habit to set aside.

So you don't remember the OPEC oil embargo ... you don't remember gas lines ...

Your claim is oil is the same price as it was "back-in-the-day" ... but your chart above shows oil is 5 times more expensive, AFTER adjusting for inflation ... is that what you want forgiven? ...

Maybe they used a different inflation ... CPI is at the end, and includes all the fuel costs of shipping ... spreading the oil inflation over all the goods measured ... consider diesel fuel, this used to be much cheaper than gasoline, today it's much more expensive ... and the trucking industry uses diesel fuel ...

"The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a representative basket of consumer goods and services." -- BLS -- Handbook of Methods -- Sept 6th, 2023 ...

Do urban housewives buy barrels of oil on a regular basis? ... I think not ... maybe the price she would pay isn't a good reflection of supply side issues ... if oil was as plentiful, we'd still be using our own production, rather than the flithy Canadian's supply ... Alberta's a toxic disaster, a better reason to curtail personal vehicles, airline travel and meat consumption ...

 

[Dagosa]

The real cost of drilling a hole a hundred feet deep in Oklahoma is enormously less than the cost of drilling one a thousand feet deep in a thousand feet of water in the middle of the North Sea. Oil is a finite resource and it is becoming more difficult to locate and more difficult to extract and process. The real cost of petroleum has gone up and will continue to go up in a roughly logarithmic manner.

I’m more optimistic. There has been a huge shift to nat gas in many segments if the industry, and autos that get 40 mpg will soon be the norm. Most local grids are showing renewable power supplies encroaching on fossil fuel generation……we’ve been big in fossil fuels about the. same time from as the AGW global warming crisis has been with us. It’s time to move on….

 

[Dagosa]

what was the crime?

If all you do is listen to Newsmax and fix News, you’d have to ask that question.

 

[Dagosa]

Interesting, you seemed to have missed my point of how time frames matter. You might want to think about that. Consider what I said about that ten-fold increase happening over 100 years, and then understand that a 10-fold increase over 100 years is the same and an annual increase of 2.3%.

Pause here and think about this if it's hard to follow.

Raising gas prices by 2.3% at the end of a year will not make driving a car unaffordable. This would especially be true if wages also increased by 2.3%. In fact, this would seem like stable prices, even if it lasted for 100 years.

Are we together on the fact that time frames matter yet?

Of course. That’s why we have phrases like “ adjusted for inflation”

 

[Crick]

I’m more optimistic. There has been a huge shift to nat gas in many segments if the industry, and autos that get 40 mpg will soon be the norm. Most local grids are showing renewable power supplies encroaching on fossil fuel generation……we’ve been big in fossil fuels about the. same time from as the AGW global warming crisis has been with us. It’s time to move on….

I'm in agreement with you. I am contesting expat's contention that the rise in petroleum prices is and will be no more than inflation.

 

[Toddsterpatriot]

Of course. Inflation is built into the modern economy. Otherwise, no one would invest money in the market. But if you look at oil prices relative to wages, it’s still a good deal. The only way to bring it down further, is that fighting word, “ competition”, from renewables.

Inflation is built into the modern economy. Otherwise, no one would invest money in the market.

Liar.

The only way to bring it down further, is that fighting word, “ competition”, from renewables.

How are more expensive, less reliable renewables "competition"?

 

[Dagosa]

I'm in agreement with you. I am contesting expat's contention that the rise in petroleum prices is and will be no more than inflation.

The biggest culprit is coal. Trump is humping “ clean coal” as if there is such a thing. Of course, there is so much science illiteracy on the right, it’s hilarious everytime they open their mouths about pollution of any kind. These are the same people who pushed for every pollutant possible.m

 

[jc456]

If all you do is listen to Newsmax and fix News, you’d have to ask that question.

So you can’t tell me from your channels? Hahaha

 

[Crick]

The biggest culprit is coal. Trump is humping “ clean coal” as if there is such a thing. Of course, there is so much science illiteracy on the right, it’s hilarious everytime they open their mouths about pollution of any kind. These are the same people who pushed for every pollutant possible.m

The problem is that controlling pollution reduces the profit margins of a major portion of the world's industrial capitalism.

 

[Toddsterpatriot]

The problem is that controlling pollution reduces the profit margins of a major portion of the world's industrial capitalism.

And reduces standards of living world-wide.

 

[Dagosa]

The problem is that controlling pollution reduces the profit margins of a major portion of the world's industrial capitalism.

In the long term though, controlling pollution realizes benefits in reduced medical costs and increased real estate values.

 

[Dagosa]

So you can’t tell me from your channels? Hahaha

Burb.

 

[ding]

The problem is that controlling pollution reduces the profit margins of a major portion of the world's industrial capitalism.

Would you like for government to regulate prices, profits and wages?

 

[ReinyDays]

Would you like for government to regulate prices, profits and wages?

We want government to set the 'floor', minimum standards to conduct business in the USA ...

Do you think companies should be allowed to steal and murder to maintain profits, and by extension share prices ... just look at your local hospital to see profit before people ... never mind the Texas electric grid, using maintenance money to support dividend payments ... how many dead February 2021? ... yeah, profit before people works great ... no need for We the People to interfere ...

You don't want rules requiring nails ... instead of staples ... to build homes? ... what next, no sheer? ... the trucking industry makes more profit without silly stupid things like brakes and rest time ... right? ... God forbid we regulate that ...

 

[Mashmont]

Why does i

We want government to set the 'floor', minimum standards to conduct business in the USA ...

Do you think companies should be allowed to steal and murder to maintain profits, and by extension share prices ... just look at your local hospital to see profit before people ... never mind the Texas electric grid, using maintenance money to support dividend payments ... how many dead February 2021? ... yeah, profit before people works great ... no need for We the People to interfere ...

You don't want rules requiring nails ... instead of staples ... to build homes? ... what next, no sheer? ... the trucking industry makes more profit without silly stupid things like brakes and rest time ... right? ... God forbid we regulate that ...

Why does it have to be government that sets these standards? Government doesn't do anything efficiently. For home standards, have private accrediting agencies (that don't get unlimited funding like the damn government), and have no incentive to push an agenda.

 

[mamooth]

Trump deliberately caused petroleum prices to skyrocket, by blackmailing the Saudis into a massive production cut. Then he bragged about doing it.

When you're at the pump and shocked at prices, remember that Trump did that. And that he's laughing at what suckers his followers are. He took their money, and it made them love him more.