What's new
US Message Board 🦅 Political Discussion Forum

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

If 25% of a commodity is removed, will the consumers' cost go up?

DudleySmith

Platinum Member
Joined
Dec 21, 2020
Messages
5,592
Reaction score
3,476
Points
938
The Keystone doesn't have squat to do with fuel production; the crappy sludge the Canadian governnment ships to Texas makes up less than 5% of the crude input into Gulf Coast refineries, and the crap doesn't produce much fuel per barrel equivalent anyway, less than 20%.
 

bripat9643

Diamond Member
Joined
Apr 1, 2011
Messages
149,128
Reaction score
35,493
Points
2,180
You are the motherfucking moron and lying weasel. Khashoggi was killed in the Saudi embassy.

You are the snowflake. The fact is that there has been a build-up in inventories over the last few weeks. The number of oil and gas rigs in operation were around 800 towards the end of 2019. The count fell to 251 in July of 2020. When Biden took office, the rig count had risen to 384. In October the count had risen to 544.

Khashogi was not an American citizen, you brain dead moron.

I love the way you list all this obscure statistics that prove nothing.
 

Ray From Cleveland

Diamond Member
Joined
Aug 16, 2015
Messages
79,384
Reaction score
24,269
Points
2,290
The Keystone doesn't have squat to do with fuel production; the crappy sludge the Canadian governnment ships to Texas makes up less than 5% of the crude input into Gulf Coast refineries, and the crap doesn't produce much fuel per barrel equivalent anyway, less than 20%.

Our refineries down there were retrofitted to handle that oil. Don't let left-wing bullshit clutter your mind.
 

Ray From Cleveland

Diamond Member
Joined
Aug 16, 2015
Messages
79,384
Reaction score
24,269
Points
2,290
OPEC does have a huge impact on oil prices. Trump conspired with OPEC+ which includes Russia to cut production to raise oil prices. Unfortunately it has worked.

That was long before Biden was near the White House. The fuel market was close to crashing and Trump needed to make sure that didn't happen here in the US.
 

Ray From Cleveland

Diamond Member
Joined
Aug 16, 2015
Messages
79,384
Reaction score
24,269
Points
2,290
That is a lie. Gas prices hit a low of $1.87 in May of 2020. It then started rising because Trump brokered a deal with OPEC+ to cut production. When you cut production, oil prices go up and gas prices follow. The fact is that the US economy has rebounded and is coming back faster than expected. The number of oil rigs dropped severely under Trump because of the crash in demand for oil. The number of rigs is coming back very slowly as production in the US slowly rises. That is why we have inflation.

We have inflation because of this dementia patient who paid people to stay home instead of work. Even at our height when we had the best economy in 50 years, gasoline never hit $3.00 per gallon on the national level. In May if gasoline was $1.87, it was only ten cents more in December of that same year. This is called normal fluctuation. Find me anytime in our history where gasoline didn't fluctuate that much or more in seven months.

When Dementia announced the closing of the Keystone, prices increased. When he announced the restrictions of exploration and drilling on public lands, it went up even more. When our largest gasoline pipeline was hacked by the Russians, he gave them permission to build their pipeline and said the attack had nothing to do with government, that it was a private matter and fuel went up even more. Now with the possibility of him closing another pipeline from Canada to Michigan, it went up a little more and has been steady for a couple of weeks now.

None of this had anything to do with Trump. If Trump were President today, we wouldn't even be paying $2.25 a gallon.
 
OP
H

healthmyths

Gold Member
Joined
Sep 19, 2011
Messages
24,138
Reaction score
6,625
Points
280
OPEC does have a huge impact on oil prices. Trump conspired with OPEC+ which includes Russia to cut production to raise oil prices. Unfortunately it has worked.
PROOF!!! Where is YOUR proof? Geez do you honestly think anyone believes a word from some one who is a
"busy bee"???? You live on gossip. Subjective personal unsubstantiated observations? Get some smarts! Provide proof!
 
OP
H

healthmyths

Gold Member
Joined
Sep 19, 2011
Messages
24,138
Reaction score
6,625
Points
280
OPEC does have a huge impact on oil prices. Trump conspired with OPEC+ which includes Russia to cut production to raise oil prices. Unfortunately it has worked.
FACTS it didn't happen!
“The conversations are not aggressive,” said one industry official who was recently briefed by administration officials. “We don’t have a plan to force their hand in any way. This is serious enough that they want to have an agreement with the Saudis, but don’t expect them to hammer out a deal.”
Industry sources said they did not expect Saudi Arabia and Russia to put aside their differences right away, however. Even if the two countries agree to cut their output, oil prices, brought low by the coronavirus pandemic’s throttling of travel and fuel demand aren't likely to rise enough to save U.S. shale producers, said Andy Lipow, head of oil consulting firm Lipow Oil Associates.

So simple to do but dummies guess and that's the problem!!!
 

DudleySmith

Platinum Member
Joined
Dec 21, 2020
Messages
5,592
Reaction score
3,476
Points
938
Our refineries down there were retrofitted to handle that oil. Don't let left-wing bullshit clutter your mind.

Rubbish. They were already fitted to handle crappy oil, West Texas crude is pretty crappy stuff, and they only use maybe 5% of the Canadian government's sludge; it has pretty poor fuel yields per barrel, less than 20%, and cost far more to process, which in itself makes the claim that some 'shortage' of it jacked up prices more than a little stupid. Don't let Bide bashing make you look like a clueless idiot.
 

DudleySmith

Platinum Member
Joined
Dec 21, 2020
Messages
5,592
Reaction score
3,476
Points
938
Last edited:

bripat9643

Diamond Member
Joined
Apr 1, 2011
Messages
149,128
Reaction score
35,493
Points
2,180
Rubbish. They were already fitted to handle crappy oil, West Texas crude is pretty crappy stuff, and they only use maybe 5% of the Canadian government's sludge; it has pretty poor fuel yields per barrel, less than 20%, and cost far more to process, which in itself makes the claim that some 'shortage' of it jacked up prices more than a little stupid. Don't let Bide bashing make you look like a clueless idiot.
Aside from bitumen, it's all fuel. You claim is horseshit.
 

Blues Man

Gold Member
Joined
Aug 28, 2016
Messages
17,845
Reaction score
6,370
Points
290
The Us is a net exporter of oil.

We should keep our oil for ourselves
 

JohnDB

Platinum Member
Joined
Jun 16, 2021
Messages
2,806
Reaction score
1,615
Points
908
Oil Price Charts | Oilprice.com

Here's the various significant oils trading prices.

Federal land leases are being allowed but at a significantly higher price than ever before...yes, more land has been opened but at a cost that prohibits the drilling and exploration. Basically trying to curb domestic oil production while begging the rest of the world to increase their production...making Joe Biden a laughing stock to the rest of the world when he released the SPR.

So...things will bounce back on Monday...but it's still this ridiculous action out of DC that's going to cost everyone...
 

JohnDB

Platinum Member
Joined
Jun 16, 2021
Messages
2,806
Reaction score
1,615
Points
908
Also...
An extremely large amount of Natural gas is on Federal Government land...so are the pipelines.

So since production of Natural gas is being curbed that price will continue to spike as we go into winter. $10 is expected here soon...vs $2.20 of yesteryear.

Meaning your electric bill is going to skyrocket as well.
 

DudleySmith

Platinum Member
Joined
Dec 21, 2020
Messages
5,592
Reaction score
3,476
Points
938
Oil Price Charts | Oilprice.com

Here's the various significant oils trading prices.

Federal land leases are being allowed but at a significantly higher price than ever before...yes, more land has been opened but at a cost that prohibits the drilling and exploration. Basically trying to curb domestic oil production while begging the rest of the world to increase their production...making Joe Biden a laughing stock to the rest of the world when he released the SPR.

So...things will bounce back on Monday...but it's still this ridiculous action out of DC that's going to cost everyone...

Well, it;s called a 'Strategic Reserve' for a reason, meaning it's not there so people can get bigger dividends for their oil stock gambles. In any case, it's always better to burn up everybody else's crude than your own when prices are so cheap. I paid $2,84 a gallon the other day, which is about 11 cents in 1970 dollars, when gas was 36 cents a gallon average, so I'm paying about 30% of 1970 prices. People need to get in touch with reality and admit inflation is your big problem, not gas prices or Biden, and it was the same for previous Presidents. Plenty to criticize him on already without making idiots out of yourselves; he's a symptom, not a cause.
 

JohnDB

Platinum Member
Joined
Jun 16, 2021
Messages
2,806
Reaction score
1,615
Points
908
Well, it;s called a 'Strategic Reserve' for a reason, meaning it's not there so people can get bigger dividends for their oil stock gambles. In any case, it's always better to burn up everybody else's crude than your own when prices are so cheap. I paid $2,84 a gallon the other day, which is about 11 cents in 1970 dollars, when gas was 36 cents a gallon average, so I'm paying about 30% of 1970 prices. People need to get in touch with reality and admit inflation is your big problem, not gas prices or Biden, and it was the same for previous Presidents. Plenty to criticize him on already without making idiots out of yourselves; he's a symptom, not a cause.
Strategic reserves exist for our military.

When we need to fuel up tanks, planes, battleships and aircraft carriers to move a bunch of our war machine to kick somebody's butt...it takes a lot of fuel. And if it happens in an oil producing location that we use...that oil is desperately needed.

It was established during WWII because it was essentially how we beat Germany... Germany had better tanks and battleships but they became worthless when they ran out of gas/diesel.
 

Ray From Cleveland

Diamond Member
Joined
Aug 16, 2015
Messages
79,384
Reaction score
24,269
Points
2,290
Oil Price Charts | Oilprice.com

Here's the various significant oils trading prices.

Federal land leases are being allowed but at a significantly higher price than ever before...yes, more land has been opened but at a cost that prohibits the drilling and exploration. Basically trying to curb domestic oil production while begging the rest of the world to increase their production...making Joe Biden a laughing stock to the rest of the world when he released the SPR.

So...things will bounce back on Monday...but it's still this ridiculous action out of DC that's going to cost everyone...

What people don't understand is that fuel is not a domestic market but an international one. OPEC and Russia know quite well we have an anti-energy President in charge now. They are in the drivers seat. That's why the President of a country who led the world in fuel exportation is now begging OPEC to produce more, and they are just shaking their heads no.

They would never get away with that if Trump was in charge. Trump would have asked OPEC to increase production, and if they refused, Trump would have increased US production and they knew it. OPEC was our bitch when Trump was in charge, and now the US is their bitch with Dementia at the wheel.
 

Ray From Cleveland

Diamond Member
Joined
Aug 16, 2015
Messages
79,384
Reaction score
24,269
Points
2,290
The Us is a net exporter of oil.

We should keep our oil for ourselves

It doesn't really work that way. To do that we would have to remove ourselves from the commodities market, and that would be the stupidest thing we could do.
 

USMB Server Goals

Total amount
$80.00
Goal
$350.00

Most reactions - Past 7 days

Forum List

Top