Higher fuel prices coming down the pipes

[JGalt]

View attachment 692096

Retirements.

I see that now. That's troubling.

 

[pknopp]

Oil under $82 a barrel. It's odd, they said that oil went to $130 because of the war in the Ukraine and increased use after the economies opened after Covid.

The war continues and the economies remain open but oil is now under $82 despite cuts by OPEC.

Perhaps someone was lying to us..............................

 

[Delldude]

Oil under $82 a barrel. It's odd, they said that oil went to $130 because of the war in the Ukraine and increased use after the economies opened after Covid.

The war continues and the economies remain open but oil is now under $82 despite cuts by OPEC.

Perhaps someone was lying to us..............................

The Saudi's and a few others just gave Biden the bird........just in time for the midterms......Bwaaa haa haa.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[JGalt]

Oil under $82 a barrel. It's odd, they said that oil went to $130 because of the war in the Ukraine and increased use after the economies opened after Covid.

The war continues and the economies remain open but oil is now under $82 despite cuts by OPEC.

Perhaps someone was lying to us..............................

The price of oil is determined by the market speculators. It momentarily spiked to $130.50 on March 7, 2022 because of the market's reaction to possible future supply disruptions, stemming from Russia’s ongoing invasion of Ukraine and the possibility of a ban on Russian oil and natural gas.

So it wasn't necessarily the war, it was the market speculator's reaction to the war. Now that the war is ongoing, Russia, Saudi Arabia, and other OPEC countries were producing oil like crazy, so the market wasn't worried about a shortage. That's also the reason gasoline dropped a little. Now OPEC is cutting their production and apparently, the speculators aren't concerned.

 

[pknopp]

The Saudi's and a few others just gave Biden the bird........just in time for the midterms......Bwaaa haa haa.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

You note this after I post about oil prices falling?

 

[pknopp]

The price of oil is determined by the market speculators. It momentarily spiked to $130.50 on March 7, 2022 because of the market's reaction to possible future supply disruptions, stemming from Russia’s ongoing invasion of Ukraine and the possibility of a ban on Russian oil and natural gas.

So it wasn't necessarily the war, it was the market speculator's reaction to the war. Now that the war is ongoing, Russia, Saudi Arabia, and other OPEC countries were producing oil like crazy, so the market wasn't worried about a shortage. That's also the reason gasoline dropped a little. Now OPEC is cutting their production and apparently, the speculators aren't concerned.

So why do we allow "speculators" to disrupt people's lives in this way?

$5.00 gas really hurt people over unfounded speculation.

 

[JGalt]

So why do we allow "speculators" to disrupt people's lives in this way?

$5.00 gas really hurt people over unfounded speculation.

There's more to the price of gasoline than the price of oil. Like for instance, the last US refinery was built in 1976. When they go down or go up in flames, gas gets higher. Since the onset of the COVID pandemic, the US has lost nearly 1 million barrels per day of oil refining capacity, with more set to be shuttered in the next few years.

 

[Delldude]

You note this after I post about oil prices falling?

Looks like it's soon to go the other way, wouldn't you think?
$100 a barrel is the target.

 

[pknopp]

There's more to the price of gasoline than the price of oil. Like for instance, the last US refinery was built in 1976. When they go down or go up in flames, gas gets higher. Since the onset of the COVID pandemic, the US has lost nearly 1 million barrels per day of oil refining capacity, with more set to be shuttered in the next few years.

View attachment 693119

Gas prices are falling.

 

[pknopp]

Looks like it's soon to go the other way, wouldn't you think?
$100 a barrel is the target.

At some point. That's what the markets do. They will find another reason to run the prices up.

 

[JGalt]

Gas prices are falling.

We have 8.5% inflation and we're in a recession. People can't afford to drive as much as they did last year.

Lower demand causes lower prices.

 

[Toddsterpatriot]

Oil under $82 a barrel. It's odd, they said that oil went to $130 because of the war in the Ukraine and increased use after the economies opened after Covid.

The war continues and the economies remain open but oil is now under $82 despite cuts by OPEC.

Perhaps someone was lying to us..............................

Maybe it's a recession?

 

[Toddsterpatriot]

So why do we allow "speculators" to disrupt people's lives in this way?

$5.00 gas really hurt people over unfounded speculation.

So why do we allow "speculators" to disrupt people's lives in this way?

Would you like to eliminate the oil and gas futures markets?

$5.00 gas really hurt people over unfounded speculation.

What if the recent drop is due to unfounded speculation?

 

[pknopp]

We have 8.5% inflation and we're in a recession. People can't afford to drive as much as they did last year.

Lower demand causes lower prices.

Nothing has changed to justify $63-$130-$82 in the last year.

 

[pknopp]

Maybe it's a recession?

Caused in part by the markets running the prices so unjustifiably high.

 

[pknopp]

So why do we allow "speculators" to disrupt people's lives in this way?

Would you like to eliminate the oil and gas futures markets?

For those not actually purchasing oil and gas?

Yes.

That's the way it used to be.

$5.00 gas really hurt people over unfounded speculation.

What if the recent drop is due to unfounded speculation?

Take out the speculators not actually interested in oil and we know.

This constant up and down is horrible for a economy.

 

[AZrailwhale]

That's weird. I pulled the 85% figure off of the eia.gov website. Do they know something they're not telling us?

Coal will account for 85% of U.S. electric generating capacity retirements in 2022

View attachment 692087

It says generating capacity RETIREMENTS. I believe that means generating plant closures. That makes sense generating plants have been moving away from coal for a decade or more. Most use natural gas now.

 

[Delldude]

At some point. That's what the markets do. They will find another reason to run the prices up.

Only thing is Putin 'needs cash now'.

 

[Delldude]

It says generating capacity RETIREMENTS. I believe that means generating plant closures. That makes sense generating plants have been moving away from coal for a decade or more. Most use natural gas now.

Except, suddenly, in Europe.

 

[AZrailwhale]

So why do we allow "speculators" to disrupt people's lives in this way?

Would you like to eliminate the oil and gas futures markets?

$5.00 gas really hurt people over unfounded speculation.

What if the recent drop is due to unfounded speculation?

Personally, I'd like to see futures trading banned. Futures traders don't provide anything except a parasitic expense, they bet on the direction prices will move and then their guesses affect real prices by distorting the market.