The gasoline price panic

[Admiral Rockwell Tory]

So this thread was taken down from approximately 6pm last night until 30 minutes ago .

Gas in my area of TN is $3.09. That's about 40-60 cents cheaper than GA and FL this past week.

 

[WEATHER53]

N

You don't sound too well. We are up almost a third more than last month but no signs of panic yet.

Plenty of gas, and plenty of bitching at Trump.

No gasoline has mostly increased about 0. 60-0.80 per gallon which is crippling no one that actually works

 

[Leo123]

No telling how much higher it’ll go. You guys freaked out when gas prices went up under Biden. Now it’s no big deal because it’s Trump’s fault.

No telling how much lower gas prices will fall also. Gas prices went up under Biden because of his insane ‘no more fossil fuel’ agenda. Gas prices are temporarily up today because Trump is taking out the number one world terrorist regime.

 

[WEATHER53]

I think you have a typo there!

Just fixed it thanks

 

[Mac-7]

AAA generally has the most up to date gas prices and they show an increase in about 80 cents since a month ago.

AAA Fuel Prices

Yes, thats about right

 

[LeftofLeft]

Rising gas prices in 2022 had little if anything to do with Biden.

This time, it’s entirely due to Trump.

The Biden executive orders that banned drilling on Federal lands and killed the Keystone pipeline had NO impact on gas prices?? Economically speaking, how was it possible to not have this impact gas prices at home? These are production-limiting events. Despite record production, demand was not being met. That increases prices.

 

[Fort Fun Indiana]

AAA generally has the most up to date gas prices and they show an increase in about 80 cents since a month ago.

AAA Fuel Prices

And Diesel price increases are even larger.

Which will push up grocery and retail prices.

 

[Fort Fun Indiana]

The Biden executive orders that banned drilling on Federal lands and killed the Keystone pipeline had NO impact on gas prices??

Correct.

Zero.

You know, the Keystone Pipeline would have made gas MORE expensive, for Americans.

 

[Marener]

The Biden executive orders that banned drilling on Federal lands and killed the Keystone pipeline had NO impact on gas prices?? Economically speaking, how was it possible to not have this impact gas prices at home? These are production-limiting events. Despite record production, demand was not being met. That increases prices.

Maybe they would impact prices years from now but had no meaningful impact in the short term.

The Keystone pipeline doesn’t exist. How could its continued non-existence raise prices? It’s illogical. Prices came back down. Was that also because of the continued non-existence of the pipeline?

As for drilling on federal lands, it was a ban on new leases. There are plenty of untapped leases and federal lands represent a fraction of oil production in this country. Production was not limited by places to drill.

 

[LeftofLeft]

Correct.

Zero.

You know, the Keystone Pipeline would have made gas MORE expensive, for Americans.

How and why?

 

[Fort Fun Indiana]

How and why?

Because the terminus of the pipeline is currently in the middle of the country. So a glut of oil forms, and it leads to some discounted prices that trickle down.

If the pipeline were completed, then that glut of local oil disappears. The purpose of the pipeline is to sell that oil and its refined products to countries NOT named the United States. So, no discount, and we are now bidding against more potential buyers.

 

[LeftofLeft]

Because the terminus of the pipeline is currently in the middle of the country. So a glut of oil forms, and it leads to some discounted prices that trickle down.

If the pipeline were completed, then that glut of local oil disappears. The purpose of the pipeline is to sell that oil and its refined products to countries NOT named the United States. So, no discount, and we are now bidding against more potential buyers.

So if the oil companies are generating more revenue even outside the United States off of a major piece of domestic infrastructure, how does that lead to INCREASED prices for the US Consumer? Your argument is that the US Consumer does not get discounted or lower prices directly from the oil coming off the Keystone therefore pays higher prices? Also, those same domestic oil companies generating more revenue from the pipeline and NOT having Federal land lease drilling permits terminated will result in higher prices?

 

[Fort Fun Indiana]

So if the oil companies are generating more revenue even outside the United States off of a major piece of domestic infrastructure, how does that lead to INCREASED prices for the US Consumer?

Already answered.

We lose our discount, and we have more competition.

For the Chinese and Canadian oil in the pipeline.

You get that too, right?

 

[LeftofLeft]

Maybe they would impact prices years from now but had no meaningful impact in the short term.

The Keystone pipeline doesn’t exist. How could its continued non-existence raise prices? It’s illogical. Prices came back down. Was that also because of the continued non-existence of the pipeline?

As for drilling on federal lands, it was a ban on new leases. There are plenty of untapped leases and federal lands represent a fraction of oil production in this country. Production was not limited by places to drill.

Not all leases are created equal. Plus, when OPEC sees the US kill a major infrastructure that benefits oil companies, reduce land leases, and increase regulations making it more costly for oil companies to meet demand, why should OPEC increase production when they have a cost-competitive advantage against the US companies to increase profit and market share by reducing production?

 

[Fort Fun Indiana]

Not all leases are created equal. Plus, when OPEC sees the US kill a major infrastructure that benefits oil companies, reduce land leases, and increase regulations making it more costly for oil companies to meet demand, why should OPEC increase production when they have a cost-competitive advantage against the US companies to increase profit and market share by reducing production?

You aren't going to put words in just the right order to make the simple facts I gave suddenly not be true.

Yes, you got fooled into shilling for more expensive gas for yourself and more profit for China.

 

[Marener]

Not all leases are created equal. Plus, when OPEC sees the US kill a major infrastructure that benefits oil companies, reduce land leases, and increase regulations making it more costly for oil companies to meet demand, why should OPEC increase production when they have a cost-competitive advantage against the US companies to increase profit and market share by reducing production?

Biden doesn’t set oil production rates for OPEC.

Biden’s pause on leasing was held up by a far right activist judge who issued a nation wide injunction.

Sorry, but you don’t have a way to blame Biden for high oil prices. High prices were a logical result of a spike in demand that industry couldn’t respond to quickly enough. Plus the Ukraine war.

 

[jacksonlamb]

N

No gasoline has mostly increased about 0. 60-0.80 per gallon which is crippling no one that actually works

I was not arguing that at all. There is no panic, yet, is my point. Let's hope the price goes down soon, or there will be serious problems for the GOP.

 

[Fort Fun Indiana]

Biden doesn’t set oil production rates for OPEC.

Trump tried so hard, and they laughed him out of the room.

He thought he could give them something like a Trump Steaks elevator pitch, and they would all wither under his charm and agree to make billions less in profits for themselves.

 

[WEATHER53]

I was not arguing that at all. There is no panic, yet, is my point. Let's hope the price goes down soon, or there will be serious problems for the GOP.

There is no panic ….but serious problems coming

Which is it?

 

[citygator]

It is now $4 in Jacksonville FL. Damn you Desantis!!!!