These fuel prices are ridiculous

[DudleySmith]

Why Oil Dropped So Suddenly | The Motley Fool

Oil demand has been falling steadily over the past few months, but a 41% drop in a single day is still concerning.

www.fool.com

You know, the output cuts from OPEC nations aren't sufficient to cover just the lack of demand. I mean, they cut production by 10 million barrels a day, but demand on a daily basis has fallen by nearly 30 million barrels a day. And the Trump administration is apparently toying with the idea of paying producers to leave crude oil in the ground to prevent negative pricing in some areas of the country. So, that really is to say that I don't see oil investable right now until we see a timeline for when we might come out of this crisis. Right now, that's anyone's guess.

From a year ago. Investment slowed down, drilling investment slowed. What they never tell you is why there was an overproduction.

And, I just paid $3.20 a gallon for the mid-range octane equivalent, not $4, and that is dirt cheap relative to historical inflation adjusted dollar values. Just admit it is you who is getting a lot poorer, not prices getting too high.

Remember these days?

$135 and rising ... has cheap oil gone for ever?

Consumers feel the pinch as analysts predict crude may reach $150 a barrel or even more

www.theguardian.com

$135 and rising ... has cheap oil gone for ever?​

Consumers feel the pinch as analysts predict crude may reach $150 a barrel

Meanwhile the troll farms keep lying their asses off like this site does., and their shills run around repeating the bullshit.

For Six Months Biden Has Shut Down U.S. Oil Production, Today Biden Asks OPEC to Pump More Oil - The Last Refuge

.... babbles about 'production being shut down for 6 months n stuff, and the mostly worthless Keystone being the reasons. lol​

Now, an exercise for the PEanuty Gallery is to go and find the list of refineries who process the tar sands sludge and what percentage of that stuff they process compared to how much is shipped, all three grades of it. What, you didn't know there are three grades of it being shipped?

Now you got all kinds of 'links', for those too lazy to do anything but parrot the MSM and lobbyists of one stripe or another.

 

[struth]

Which is all totally tax deductible if you file self employment taxes.

haha totally false…and totally irrelevant

 

[struth]

thank a dembot cultist for your high prices

 

[tshrimp]

You wouldn't know, you think Somethingorother 'Energy Institute' is some sort of unbiased source. Hate to break it to you, but the U.S. Chamber of Commerce, MSN, and calculators that use the Fed's CPI are garbage for stats. You need a subscription to better sources, like SeekingAlpha or ShadowStats, and some halfway decent business news outlet.

I rest my case .

 

[Sandy Shanks]

Out of desperation caused by the fool who occupied the Oval Office before Biden, it is not surprising that Republicans are blaming our President for just about everything these days.

Biden is being blamed for the pandemic which in turn is responsible for the supply chain difficulties which is responsible for shortages of just about everything which is causing inflation. Without going into detail -- because there isn't any -- according to Republicans, our President is somehow responsible for the worldwide shortage of fuel which is driving prices still higher.

Unfortunately for Republicans the President is no more responsible for these temporary economic difficulties than Hoover being responsible for the Great Depression. In 2008, Bush was not responsible for the Great Recession, and Trump was not responsible for the pandemic induced recession during the spring and summer of 2020.

Unless our President loses a war, the President has little or no control over the largest economy in the world ... ours. Nevertheless, Americans blame our Presidents if the economy goes bad, and give credit to our Presidents if the economy is doing well.

Both the blame and the credit are undeserved. No one man is responsible for what our huge economy does. Our economy is in the hands of business leaders and the American worker.

That said, despite the lingering effects of the pandemic, our economy is doing quite well.

The stock market is a bellwether for future economic success or failure.

ABC News reports, "A broad rally for stocks on Wall Street sent the S&P 500 and Nasdaq to new highs Thursday, as the market more than made up for modest losses a day earlier.

"The S&P 500 rose 1%, posting its third all-time high this week. More than 80% of the stocks in the benchmark index closed higher. Technology stocks, banks and a mix of companies that rely on consumer spending accounted for much of the gains.

"The Nasdaq rose 1.4%, nudging the tech-heavy index above its previous record high set Sept. 7. The Dow Jones Industrial Average rose 0.7%, leaving it just shy of the all-time high it set on Tuesday.

"The number of Americans applying for unemployment benefits fell to a pandemic low last week as the job market continues to recover from last year's coronavirus recession.

"Jobless claims dropped by 10,000 to 281,000, lowest since mid-March 2020, the Labor Department said Thursday. Since topping 900,000 in early January, weekly applications have steadily dropped, moving ever closer to pre-pandemic levels."

Does the President get any credit for our thriving economy?

As explained, hell no.

 

[DudleySmith]

I rest my case .

View attachment 557567

You never had one, that's just you being delusional.

 

[surada]

Out of desperation caused by the fool who occupied the Oval Office before Biden, it is not surprising that Republicans are blaming our President for just about everything these days.

Biden is being blamed for the pandemic which in turn is responsible for the supply chain difficulties which is responsible for shortages of just about everything which is causing inflation. Without going into detail -- because there isn't any -- according to Republicans, our President is somehow responsible for the worldwide shortage of fuel which is driving prices still higher.

Unfortunately for Republicans the President is no more responsible for these temporary economic difficulties than Hoover being responsible for the Great Depression. In 2008, Bush was not responsible for the Great Recession, and Trump was not responsible for the pandemic induced recession during the spring and summer of 2020.

Unless our President loses a war, the President has little or no control over the largest economy in the world ... ours. Nevertheless, Americans blame our Presidents if the economy goes bad, and give credit to our Presidents if the economy is doing well.

Both the blame and the credit are undeserved. No one man is responsible for what our huge economy does. Our economy is in the hands of business leaders and the American worker.

That said, despite the lingering effects of the pandemic, our economy is doing quite well.

The stock market is a bellwether for future economic success or failure.

ABC News reports, "A broad rally for stocks on Wall Street sent the S&P 500 and Nasdaq to new highs Thursday, as the market more than made up for modest losses a day earlier.

"The S&P 500 rose 1%, posting its third all-time high this week. More than 80% of the stocks in the benchmark index closed higher. Technology stocks, banks and a mix of companies that rely on consumer spending accounted for much of the gains.

"The Nasdaq rose 1.4%, nudging the tech-heavy index above its previous record high set Sept. 7. The Dow Jones Industrial Average rose 0.7%, leaving it just shy of the all-time high it set on Tuesday.

"The number of Americans applying for unemployment benefits fell to a pandemic low last week as the job market continues to recover from last year's coronavirus recession.

"Jobless claims dropped by 10,000 to 281,000, lowest since mid-March 2020, the Labor Department said Thursday. Since topping 900,000 in early January, weekly applications have steadily dropped, moving ever closer to pre-pandemic levels."

Does the President get any credit for our thriving economy?

As explained, hell no.

Thanks.. You have a grasp of the situation.. So rare.

 

[struth]

Out of desperation caused by the fool who occupied the Oval Office before Biden, it is not surprising that Republicans are blaming our President for just about everything these days.

Biden is being blamed for the pandemic which in turn is responsible for the supply chain difficulties which is responsible for shortages of just about everything which is causing inflation. Without going into detail -- because there isn't any -- according to Republicans, our President is somehow responsible for the worldwide shortage of fuel which is driving prices still higher.

Unfortunately for Republicans the President is no more responsible for these temporary economic difficulties than Hoover being responsible for the Great Depression. In 2008, Bush was not responsible for the Great Recession, and Trump was not responsible for the pandemic induced recession during the spring and summer of 2020.

Unless our President loses a war, the President has little or no control over the largest economy in the world ... ours. Nevertheless, Americans blame our Presidents if the economy goes bad, and give credit to our Presidents if the economy is doing well.

Both the blame and the credit are undeserved. No one man is responsible for what our huge economy does. Our economy is in the hands of business leaders and the American worker.

That said, despite the lingering effects of the pandemic, our economy is doing quite well.

The stock market is a bellwether for future economic success or failure.

ABC News reports, "A broad rally for stocks on Wall Street sent the S&P 500 and Nasdaq to new highs Thursday, as the market more than made up for modest losses a day earlier.

"The S&P 500 rose 1%, posting its third all-time high this week. More than 80% of the stocks in the benchmark index closed higher. Technology stocks, banks and a mix of companies that rely on consumer spending accounted for much of the gains.

"The Nasdaq rose 1.4%, nudging the tech-heavy index above its previous record high set Sept. 7. The Dow Jones Industrial Average rose 0.7%, leaving it just shy of the all-time high it set on Tuesday.

"The number of Americans applying for unemployment benefits fell to a pandemic low last week as the job market continues to recover from last year's coronavirus recession.

"Jobless claims dropped by 10,000 to 281,000, lowest since mid-March 2020, the Labor Department said Thursday. Since topping 900,000 in early January, weekly applications have steadily dropped, moving ever closer to pre-pandemic levels."

Does the President get any credit for our thriving economy?

As explained, hell no.

nah it’s xiden’s fault

but to be fair, he didn’t lose a war…he surrendered…

 

[surada]

No matter who was President gas prices would have gone up. The demand worldwide is increasing rapidly and the supplies are dwindling. OPEC is the main reason prices have gone up so much, they have slowed production to artificially inflate prices. They know in about 35 to 40 years their oil will be depleted, they're trying to get the biggest bang for their buck while they still can.

Ghawar wells are still producing since before I was born.. and I'm old as dirt.

 

[DudleySmith]

I rest my case .

View attachment 557567

lol Front page story in the Weekend WSJ stating what I said , for about the 12th time I know of this year, only now it's up front news. Too bad you can't afford a subscription nor the newsstand price and have to rely on ideological babbling. They're racking in a massive flood of cash, and production is actually up, just not enough to suit those who have some ridiculous belief 'the market' affects pump prices and not competing blocks of shareholders and institutional shareholders.

 

[Remodeling Maidiac]

US oil production has been down since Bidens election. 8 to 10% in 2020 and still down in 2021.
We are relying on opec rather than ourselves.

https://www.worldoil.com/news/2021/4/7/while-opec-ramps-up-production-us-oil-output-is-projected-to-fall

 

[Remodeling Maidiac]

Prices continue to rise here. Over the last week its jumped between 10 & 13 cents per gallon.

 

[surada]

US oil production has been down since Bidens election. 8 to 10% in 2020 and still down in 2021.
We are relying on opec rather than ourselves.

https://www.worldoil.com/news/2021/4/7/while-opec-ramps-up-production-us-oil-output-is-projected-to-fall

The US doesn't buy much from OPEC.. The oil we import comes from Canada, Mexico, Vz and since Trump.. from Russiaa.

 

[Remodeling Maidiac]

The US doesn't buy much from OPEC.. The oil we import comes from Canada, Mexico, Vz and since Trump.. from Russiaa.

Oil goes on the same market. We cut production and prices naturally went up.

 

[surada]

Oil goes on the same market. We cut production and prices naturally went up.

True.. Oil is fungible and we buy very little from OPEC.

 

[danielpalos]

Tax credits to switch to electric!

 

[Remodeling Maidiac]

True.. Oil is fungible and we buy very little from OPEC.

White House calls on OPEC to boost oil production as gasoline prices rise

The White House is calling on OPEC+ to take action as surging gas prices prompt fears that rising inflation will derail the economic recovery.

www.cnbc.com

 

[surada]

White House calls on OPEC to boost oil production as gasoline prices rise

The White House is calling on OPEC+ to take action as surging gas prices prompt fears that rising inflation will derail the economic recovery.

www.cnbc.com

The Saudis are adding another 3 million bpd next year.

 

[AntonToo]

US oil production has been down since Bidens election. 8 to 10% in 2020

Trump was the president the whole 2020 and you are blaming it on Biden? Good job dummy.

Here is the non-partisan reality though - when oil price collapses big time because no one is driving...PRODUCTION FALLS. Duh.

 

[surada]

Trump was the president the whole 2020 and you are blaming it on Biden? Good job dummy.

Here is the non-partisan reality though - when oil price collapses big time because no one is driving PRODUCTION FALLS. Duh.

LOLOL.. Well done.