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Topic: In other news ...

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longhorn320

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Re: In other news ...
« Reply #17038 on: June 02, 2022, 10:17:33 AM »
someone needs to tell Texas to lower their gasoline prices
what the hell does that mean farmer

They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

FearlessF

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Re: In other news ...
« Reply #17039 on: June 02, 2022, 10:19:53 AM »
the Bush boys and the Texas oil tycoons always were blamed for high gas prices and wars

can't just blame Biden & Russia this time 
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

longhorn320

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Re: In other news ...
« Reply #17040 on: June 02, 2022, 11:08:34 AM »
the Bush boys and the Texas oil tycoons always were blamed for high gas prices and wars

can't just blame Biden & Russia this time
sure you can cause thats where the blame lies

Brandon is doing everything he can to drive up the price of gas

Russia has some blame but mostly its King Brandon
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

GopherRock

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Re: In other news ...
« Reply #17041 on: June 02, 2022, 12:01:31 PM »
Trump will run, hopefully he's soundly defeated within the Red party
If he runs, he immediately clears the field on the GOP side. And the only way he doesn't run is if he's dead.

847badgerfan

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Re: In other news ...
« Reply #17042 on: June 02, 2022, 12:06:58 PM »
I don't think he runs. 

Brandon neither.
U RAH RAH! WIS CON SIN!

grillrat

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Re: In other news ...
« Reply #17043 on: June 02, 2022, 12:47:19 PM »
sure you can cause thats where the blame lies

Brandon is doing everything he can to drive up the price of gas

Russia has some blame but mostly its King Brandon
Mostly?  No.  Some, yes.
I am sure that you can cite the Keystone pipeline as the catalyst that started this mess, but the truth is, the US is going to be producing just about as much crude oil this year as we did in 2019.  Unless you are trying to claim that Biden is the reason for Russia invading the Ukraine (you'd be wrong, but there is at least some convoluted logic path that can get you there).

For the record, you don't just flip a switch and suddenly we start pumping out a million more barrels of oil per day.  Before the pandemic hit, we were pumping about 12.3 million barrels per day.  At the height of the pandemic (August, 2020), we dropped down to about 10 million, because the demand had fallen to the point where we didn't need to produce as much.  Since that time, we have been slowly ramping back up (ie. replacing the workers who were all layed off in 2020) and we are now back up to 11.9 million barrels per day (and it is expected to grow to be 12.8 million in 2023).  This administration is going to be pumping more oil next year than when Trump was president.  Yet the narrative is going to be from Republicans that Biden is killing the oil industry.

So if you were to look at the gas prices in the US in a bubble, the prices should only have increased 12.3/11.9=about 3%.  Yet gas prices have gone up about 75%-100%.  This is mostly on the gas companies who are exploiting the market instability to price gouge us.  The gas companies can claim that the lack of oil coming from Russia is causing a shortage, therefore they can raise the prices accordingly (simple supply and demand!).  Yet only 2% of our oil comes from Russia.  Europe gets about 20% of their oil from Russia.  So where does the other 50% to 80% in cost increase come from?  If you can point to a specific Biden administration decision that did that, feel free to show me.  I'll put 100$ down right now that 2022 is going to be a record earnings year for every oil company.


Short-Term Energy Outlook - U.S. Energy Information Administration (EIA)

Data: How much of U.S. oil comes from Russia? (nbcnews.com)

Cincydawg

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Re: In other news ...
« Reply #17044 on: June 02, 2022, 01:01:49 PM »
Oil prices are global, they shot up because demand outstripped supply, globally.  If oil companies could really control this market, they wouldn't have bad years.  OPEC+ does have significant control over the market, not complete of course, they suffered during the COVID recession.  But the major oil companies are very small as compared with OPEC+ in terms of market control.

The price of gasoline closely tracks the price of oil over time.  Higher oil prices ...  

I think that last stimulus bill was part of the problem, it sent money to folks who already had delayed travel etc. and saved money, and now everyone wants to travel.  I've never seen airports and planes so full as today, hotels are hard to come by, and rental cars as well, everybody is making up for lost time.  Demand spiked, global oil supply has been slow to recover for a number of reasons, including labor and parts issues.

It's facile to fault one simple thing for such situations, I think, when multiple factors are involved.  

longhorn320

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Re: In other news ...
« Reply #17045 on: June 02, 2022, 01:38:29 PM »
I hear everything you guys are saying but never the less the fact is as soon as Trump gets elected the price of gasoline will start to fall and will return to normal within 6 months

You can call it magic or whatever but as long as it happens I dont care why

Inflation will go down and our southern boarder will be secure

We will stop giving money to Ukraine

all will be good
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

Cincydawg

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Re: In other news ...
« Reply #17046 on: June 02, 2022, 01:40:50 PM »
If we have a deep recession, the price of oil will indeed fall, no matter who is President.

Even a moderate recession will cause that as well.  So, that's one way to reduce demand.

longhorn320

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Re: In other news ...
« Reply #17047 on: June 02, 2022, 01:44:33 PM »
If we have a deep recession, the price of oil will indeed fall, no matter who is President.

Even a moderate recession will cause that as well.  So, that's one way to reduce demand.
If we have a recession it will end as soon as Mr Orange is sworn in

You honestly should be exhausted from carrying so much water for the dems
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

Cincydawg

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Re: In other news ...
« Reply #17048 on: June 02, 2022, 01:52:24 PM »
I try and be a realist and consider past history and current data as much as possible without taking some partisan angle to that evaluation.  In history, oil price spikes have been followed by recessions, almost without exception since 1974, and said recession cuts demand and oil prices.  The economy then recovers, no matter who is President.

Our economy is more dependent on oil than anything else, I think, and the price goes into fertilizer and glass making and a number of things aside from transportation and the obvious.

I also believe "we" blame, and credit, Presidents for things largely out of their control.  I view the Fed as having quite a bit more influence over our economy than any President with some exceptions like war and pandemics.

longhorn320

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Re: In other news ...
« Reply #17049 on: June 02, 2022, 01:59:14 PM »
The oil problem was brought about on purpose by Brandon to push his green agenda

there is a lot of evidence of this including his self admission
They won't let me give blood anymore. The burnt orange color scares the hell out of the doctors.

grillrat

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Re: In other news ...
« Reply #17050 on: June 02, 2022, 02:00:34 PM »
Oil prices are global, they shot up because demand outstripped supply, globally.  If oil companies could really control this market, they wouldn't have bad years.  OPEC+ does have significant control over the market, not complete of course, they suffered during the COVID recession.  But the major oil companies are very small as compared with OPEC+ in terms of market control.

The price of gasoline closely tracks the price of oil over time.  Higher oil prices ... 

I think that last stimulus bill was part of the problem, it sent money to folks who already had delayed travel etc. and saved money, and now everyone wants to travel.  I've never seen airports and planes so full as today, hotels are hard to come by, and rental cars as well, everybody is making up for lost time.  Demand spiked, global oil supply has been slow to recover for a number of reasons, including labor and parts issues.

It's facile to fault one simple thing for such situations, I think, when multiple factors are involved. 
I agree with the first two paragraphs, I guess I should have stated OPEC as opposed to "gas companies".  I don't think that demand is outstripping supply though (and OPEC themselves are "Insisting that no supply shortage exists, OPEC+ countries agreed on 31 March to stick with a modest monthly output increment for May" (I'll give you the link if you want it).  So yes, the prices are up on the crude oil barrels, but it is due to the instability of the source, not the actual amount being produced.  It's a money grab, but one with enough of a justification that people can't really call them on it.


Also, I don't think the stimulus is a major issue.  Yes, everyone was cooped up in the pandemic and is now going out and getting their vacations in, but "The [color=var(--color-signal-editorial,#326891)]World Travel & Tourism Council [/color](W.T.T.C.), which represents the global travel and tourism industry, projects that travel and tourism in the United States will reach prepandemic levels in 2022, contributing nearly $2 trillion to the U.S. economy."  So yes, we are traveling "more", but not to the point where it would outpace the oil supply which is supposedly back up to where it was prepandemic.
Besides, that last stimulus check was, what?  $2800 at most for a married couple.  That wouldn't even cover 3 days at Disneyworld back in 2019.  

I think your last sentence is spot on.  There's 50 factors that are causing the headaches in the WORLD economy right now.  Probably 75% are a combination of lingering consequences of Covid-world and Russian douchebaggery.  I guess my biggest beef is with the belief that this was "mostly" Biden's fault.

Gigem

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Re: In other news ...
« Reply #17051 on: June 02, 2022, 02:01:01 PM »
the most useful EV charger for home use today takes an 80amp circuit

the 110 chargers can take 30-40 hours to charge a vehicle
Not sure this is correct, most home chargers require 30-50 amps IIRC.  

 

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