REMINDER: THE ARENA PLATFORM, INC. has no obligation to monitor the Forums. However, THE ARENA PLATFORM, INC. reserves the right to review any materials submitted to or posted on the Forums, and remove, delete, redact or otherwise modify such materials, in its sole discretion and for any reason whatsoever, at any time and from time to time, without notice or further obligation to you. THE ARENA PLATFORM, INC. has no obligation to display or post any materials provided by you. THE ARENA PLATFORM, INC. reserves the right to disclose, at any time and from time to time, any information or materials that we deem necessary or appropriate to satisfy any applicable law, regulation, contract obligation, legal or dispute process or government request. Click on the following hyperlinks to further read the applicable Privacy Policy and Terms of Use.

Sidebar Sidebar

Gasoline Gasoline!

2surf

2surf

Duke status
Apr 12, 2004
15,361
2,109
113
73
California USA
www.allcare.com
Aruka said:
So Biden single handedly controls the price of gas when it's going up but the moment it starts to go down it's the free market working as intended. Got it.
Click to expand...
The short answer is Biden can barely control his bowls and everyone knows that. To even think he can manipulate the price of gas is laughable. The Biden administration is just following through on campaign promises. If you voted for him then you must be on his team.
 
S

Surfdog

Duke status
Apr 22, 2001
21,817
2,032
113
South coast OR


Keep an eye on this chart for all that gas price dropping goin on.

A penny a day makes the inflation blues go away.:toilet: NOT.

It happened once in March a few cents on the FIRST oil reserve raid, and didn't last long.

Got a long road to hoe, just to see gas back under $5 in LA and $4 nationwide. The good ole days of early 2022.
Biden and the squad want none of that. They WANT to see gas/oil prices stay high. Only hope for GND policies to survive.

But, if a recession does take hold, gas and oil prices will likely drop further, along with employment and growth.

Layoffs have been picking back up, due to high prices of everything causing reduced purchasing and purchase power.

High inflation cause and effect.
 
S

Surfdog

Duke status
Apr 22, 2001
21,817
2,032
113
South coast OR
We'll see how far they fall this time.

Just like the dip from the first oil reserve raid (some that went overseas and to China)

Our National Reserve is not to be used as China hush money (for Hunters co-horts).

Treasonous at a minimum. Impeachable offense likely.
 
afoaf

afoaf

Duke status
Jun 25, 2008
49,771
23,401
113
Surfdog said:
We'll see how far they fall this time.

Just like the dip from the first oil reserve raid (some that went overseas and to China)

Our National Reserve is not to be used as China hush money (for Hunters co-horts).

Treasonous at a minimum. Impeachable offense likely.
Click to expand...
when they sold it to Italians was it because Hunter was on an Italian company's board?

when it went to India and the Netherlands, was that also because Hunter is on the boards of Indian and Nederlandonian companies?

why are you such a clown?

www.reuters.com

Oil from U.S. reserves sent overseas as gasoline prices stay high

More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.
www.reuters.com www.reuters.com

About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $100 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. U.S. officials have said oil prices could be higher if the SPR had not been tapped.
 
GromsDad

GromsDad

Duke status
Jan 21, 2014
55,028
16,836
113
West of the Atlantic. East of the ICW.
Another Biden bid to curb oil supplies that’s sure to raise gas prices even more

Team Biden is now aiming to block new drilling in the Atlantic, Pacific and possibly much of the Gulf of Mexico. No doubt he’ll blame Vladimir Putin, gas companies and Republicans when gas spikes yet again as a result.

What a nightmare. Last week, the Interior Department announced (on the Friday before July 4, as folks prepped for the holiday weekend) that it wants to include a ban on that new drilling in its five-year plan, though it might allow an expansion in the Gulf of Mexico and Alaska’s south coast.

The plan is still being worked out, but one version allows just 11 oil-lease sales over the course of five years, while another would abandon new lease sales entirely. That’s not encouraging.

Meanwhile, President Joe Biden claims he’s doing everything he can to increase supplies and lower prices. And blames US companies for not pumping more.

Sure, even if new drilling projects got an OK now, they wouldn’t get oil to market and drive down prices any time soon. But why should companies risk investing more even in current operations, knowing that Biden and his fellow Democrats are aiming to shut them down at some point?

Remember, Biden vowed to “end fossil fuels,” and since taking office, he’s worked to keep that vow: He halted federal lease sales, canceled the Keystone XL Pipeline, threatened banks to stop aiding fossil-fuel companies and imposed countless restrictions on production. Does anyone think this was meant to increase supplies and bring down prices?

Alas, neither soaring inflation nor Putin’s war nor the desperate pleas of besieged Americans nor even the dismal electoral prospects for the Democratic Party will get him to change course. He’ll keep his word to the climate-change warriors no matter what. And to hell with everyone else.

nypost.com

Another Biden bid to curb oil supplies that’s sure to raise gas prices even more

No doubt President Biden will blame Vladimir Putin, gas companies and Republicans when gas spikes yet again as a result.
nypost.com nypost.com
 
casa_mugrienta

casa_mugrienta

Duke status
Apr 13, 2008
43,810
18,370
113
Petak Island
The bottom line is you're not going to get any substantial levels of new drilling at current extraction prices.

I've already posted actual examples current costs for new wells, which have doubled.

On top of that there's ROI risks any business is going to face.

On top of that is political risk (not just in the USA but globally - see Colombia for example) but the main issue is inflation and supply chain issues have made new production too expensive.

And once the price/bbl comes down it's not going to do any favors as far as bringing new supply online...

So do the math on what that means for price/bbl in the years to come. Especially in the face of a future increase in global demand combined with further restrictions on oil.

On a basically global scale we're going to running at capacity or less and the market is going to be incredibly sensitive to demand as well as supply disruptions.
 
You must log in or register to reply here.

Share this page

Share this page
Top Bottom