US Set to Pump Record Amount of Oil in 2023, Surpassing 2019 !

[justoffal]

I am doing fine in the grocery store, you just have to do a little shopping around
I am eating NY strip steak for $7.99/lb at BJ's wholesale club
I am eating beef short ribs for $5.99/lb
I am eating prime grade (yes real deal prime grade) sirloin steak for only $7.99/lb
Whole chickens at $1.8/lb

People need to stop being so lazy and shop around. If you plan your shopping things are just fine.

Inflation goes up every year, it went up and now it is not going up very much. We had to deal with numerous issues in 2022 that cause inflation to inc, but now we are in a world where wages continue to inc (+0.4% MoM on friday), but the inc in inflation is easing to the normal amount.

Trump handed out $trillions to people, ramped the deficit to an insane $3+T/yr, and printed $trillions in fake money, you don't think that increased inflation?

All up 25% from 24 months ago

 

[The Banker]

All up 25% from 24 months ago

not true at all. Thats not true. NY strip steaks were at that same $7.99/lb 2 years ago, maybe you could get them for $6.99/lb on sale, but they were not regularly $6.99/lb.

these are very similar to the prices of 2 years ago.

sorry bud, nice try though...

 

[Harpy Eagle]

All up 25% from 24 months ago

Once again, provide the data. You say you track prices so give us some.

 

[justoffal]

All up 25% from 24 months ago. Chicken breast up 50%, eggs 100%, Milk 33% .... Just to name a few. Inflation is never healthy

Once again, provide the data. You say you track prices so give us some.

Chicken breast locally
2021...$1.99/lb
2023...$2.99/lb (it's not bird flu)

Pork shoulder locally
2021......$.99/lb
2023.......$2.49/lb

Milk locally..
2021 $2.50/gallon
2023. $4.50/Gallon

Kilowatt hours locally
2021 15 cents/kwh
2023 35 cents/kwh

DOLLAR DEVALUATION

There are more but I am done for now.

 

[Harpy Eagle]

Chicken breast locally
2021...$1.99/lb
2023...$2.99/lb (it's not bird flu)

Pork shoulder locally
2021......$.99/lb
2023.......$2.49/lb

Milk locally..
2021 $2.50/gallon
2023. $4.50/Gallon

Kilowatt hours locally
2021 15 cents/kwh
2023 35 cents/kwh

DOLLAR DEVALUATION

There are more but I am done for now.

Damn, you are getting ripped off. Where do you live?

Even in the liberal state of Ill my electric rate is only 13.4 cents/kwh, and that is including every state and local tax and "mandated charges".

 

[justoffal]

Damn, you are getting ripped off. Where do you live?

Even in the liberal state of Ill my electric rate is only 13.4 cents/kwh, and that is including every state and local tax and "mandated charges".



View attachment 803094

Keep it up...
I'll be moving soon....

Did you include the line usage fee on your electric bill? There are actually two rates... There is stated $/KWH and true $/KWH which one did you give me?

 

[Harpy Eagle]

Keep it up...
I'll be moving soon....

Good for you!

Us too, in 6 years we will move right on out of the country.

 

[justoffal]

Good for you!

Us too, in 6 years we will move right on out of the country.

Probably the smart thing to do

 

[Harpy Eagle]

Probably the smart thing to do

That is why we are doing it!

 

[justoffal]

That is why we are doing it!

Close friend just moved to Ecuador....loves it there

 

[Harpy Eagle]

Close friend just moved to Ecuador....loves it there

We have looked in to Ecuador, right now Panama is our leading choice.

 

[justoffal]

We have looked in to Ecuador, right now Panama is our leading choice.

Yeah....oddly he went there first for a month...
Was telling me that the COL
was amazingly low.

 

[Harpy Eagle]

Yeah....oddly he went there first for a month...
Was telling me that the COL
was amazingly low.

That is one of the reasons we are looking at it. We could have a comfortable retirement here, but there it could be so much more.

 

[HikerGuy83]

Has anyone stopped to consider that output is tied to demand ?

First, anyone can read a good article on this subject and be told Presidents have nothing to do with the output of oil.

Just like those who screamed at oil companies for "not drilling" when prices were high......it takes years to get a well identified, permitted, drilled and brought on line. There is no magic valve they open and close.

Second, Output is determined by private companies who respond to pricing demand. If it is profitable (optimally profitable) to produce another barrel...they will.

Third, gasoline and diesel are inelastic in the short run. That means that it takes a significant price increase to fend off just a little demand. That happened in Phoenix where supply was hit by specfic refineries and pipelines going down. Gas peaked. It is now a dollar less than it was three months ago.

I've already pointed out that the OP uses manufactured statistics to run Biden up the flag pole.

It's all bogus.

 

[Hutch Starskey]

that may be a matter of opinion isnt it?.....many people did pretty good under trump.....many are doing good under biden....at the same time many people suffered with trump and many are suffering right now under biden....

that may be a matter of opinion isnt it?

No. An opinion is inherently subjective.
eg. “all beef franks are the best franks”.

The claim made in the OP is an objective, demonstrable fact.
One can have an opinion as to what degree it is a fact but not that it is a fact.

The fact that some don’t understand it or choose to discount it does not make it an opinion. It just makes them wrong.

 

[Hutch Starskey]

ZOMG!!! Biden got production back to where it was 4 years ago!

And then some.

 

[Hutch Starskey]

and yet i answered your questions....you just dont like it when someone says they think your party sucks just as bad as the other guys...just be honest and admit you are what you say your not.....a die hard democrat partisan....

You’ve been shown that they don’t “ suck as bad as the other guys”. Clearly.
It is you who cannot accept that and are having a tantrum as a result.

 

[Hutch Starskey]

Hmmm…so if we export less we end up with more of a domestic surplus which drives price at the pump down?
Why and the fuck wouldn’t these America hating pukes better regulate exportation? Why do you embrace the notion of Americans fucking themselves over and over again?

So now the govt should control the means of production?

Tell us some more about the “commies”.

 

[Hutch Starskey]

hahaha…I thought you socialism-lite folks were all about “regulation” as a means of control?

Don’t think. Know.

 

[Harry Dresden]

No. An opinion is inherently subjective.
eg. “all beef franks are the best franks”.

The claim made in the OP is an objective, demonstrable fact.
One can have an opinion as to what degree it is a fact but not that it is a fact.

The fact that some don’t understand it or choose to discount it does not make it an opinion. It just makes them wrong.

so you are saying no one is having a hard time right now under bidin?....everything is just great?...