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hows those gas prices

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  • GulfcoastguyGulfcoastguy Posts: 5,584
    HighHeat said:
    https://www.reuters.com/business/energy/oil-us-reserves-head-overseas-gasoline-prices-stay-high-2022-07-05/

    Mixed opinions on this. If we don’t want NATO countries to buy Russian oil and gas then we have to help supply at least a portion of the demand. The remainder that went to “Asia” though needs action. Even if we decided to produce more in the US that would take several months to produce results.
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  • JohnInCarolinaJohnInCarolina Posts: 26,995
    It is a global market.  
    "I've made a note never to piss you two off." - Stike


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  • nolaeggheadnolaegghead Posts: 41,049
    The strategic oil, like all oil, is sold to the highest bidders, it's not like we can omit buyers without having tit-for-tat retaliation against American companies and creating a problem that didn't exist.
    ______________________________________________
    I collect junk and work as a lowly lab technician at the bench!!!!!
    WEEEEEEEEEEEEEEEE!  GREATNESS!!!!!!!!!
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  • HeavyGHeavyG Posts: 9,210
    HighHeat said:
    https://www.opindia.com/2022/07/biden-administration-sold-million-barrels-us-strategic-petroleum-reserve-to-chinese-state-owned-firm-where-hunter-biden-is-an-investor-report/


    HighHeat said:
    The propagandists are burying this...



    From Nov. 2021:

    Much of Biden’s Oil Release Will Likely End Up in China, India


    A large portion of the barrels that will be offered from the U.S. Strategic Petroleum Reserve will likely be exported to China and India, traders said.

    That’s because the supplies will consist of sour crude, a type of oil that U.S. refiners are shunning due to its high sulfur content, which makes it more expensive to process. For some foreign buyers, though, U.S. sour crude is attractive because it’s much cheaper than the global Brent benchmark. 

    The U.S. has already been selling oil from the SPR regularly this year, and a record volume of those barrels was exported in October. 

    China and India have been actively buying U.S. sour crude produced in the Gulf of Mexico. So, it’s easy to see why New Delhi and Beijing agreed to participate in the coordinated reserves release led by U.S. President Joe Biden.

    U.S. sour crudes are currently trading at about $75 a barrel, while Brent is at about $82.


    *********


    There was an additional coordinated response with 30 other member nations of the IEA to release oil from their strategic reserves.


    Speaking of oil exports to China who was Prez during the May 2020 peak on this chart?





    Have you looked at all the names of the other US investors in that Chinese owned company that Joe B. has also invested in? Are all those others (or their family members) also "criminals" in your mind?


    Also, have you looked at US exports of refined petroleum products (like gasoline) over the last few years? We export a LOT of gasoline. Wouldn't it make sense to prohibit those exports if we wanted to lower the price per gallon within the US? However, would that actually lower the price/gal? Would Big Oil even allow their Congresscritters to support such an effort?


    “Reality is that which, when you stop believing in it, doesn't go away.” ― Philip K. Diçk

    Camped out in the (757/948/804)




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  • JohnInCarolinaJohnInCarolina Posts: 26,995
    Some time ago, I made the point that there was little Biden could do that would significantly decrease the price of gas.

    Someone mentioned that, well, he could increase US production or tap the strategic reserves.  

    Biden did end up tapping the strategic reserves, which frankly, in my view was a mistake.  And the end result was a few cents on a gallon at best.

    This is why we can’t have nice things.
    "I've made a note never to piss you two off." - Stike


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  • HighHeatHighHeat Posts: 215
    https://theleoterrell.com/white-house-claims-u-s-economy-is-currently-strongest-in-history/
    Memphis, TN
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  • HighHeatHighHeat Posts: 215
    https://twitter.com/0ddette/status/1545449599564922883?s=21&t=C6pNZ8kQXg_C4L0vJsOx-Q
    Memphis, TN
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  • JohnInCarolinaJohnInCarolina Posts: 26,995
    HeavyG said:
    HighHeat said:
    https://www.opindia.com/2022/07/biden-administration-sold-million-barrels-us-strategic-petroleum-reserve-to-chinese-state-owned-firm-where-hunter-biden-is-an-investor-report/


    HighHeat said:
    The propagandists are burying this...



    From Nov. 2021:

    Much of Biden’s Oil Release Will Likely End Up in China, India


    A large portion of the barrels that will be offered from the U.S. Strategic Petroleum Reserve will likely be exported to China and India, traders said.

    That’s because the supplies will consist of sour crude, a type of oil that U.S. refiners are shunning due to its high sulfur content, which makes it more expensive to process. For some foreign buyers, though, U.S. sour crude is attractive because it’s much cheaper than the global Brent benchmark. 

    The U.S. has already been selling oil from the SPR regularly this year, and a record volume of those barrels was exported in October. 

    China and India have been actively buying U.S. sour crude produced in the Gulf of Mexico. So, it’s easy to see why New Delhi and Beijing agreed to participate in the coordinated reserves release led by U.S. President Joe Biden.

    U.S. sour crudes are currently trading at about $75 a barrel, while Brent is at about $82.


    *********


    There was an additional coordinated response with 30 other member nations of the IEA to release oil from their strategic reserves.


    Speaking of oil exports to China who was Prez during the May 2020 peak on this chart?





    Have you looked at all the names of the other US investors in that Chinese owned company that Joe B. has also invested in? Are all those others (or their family members) also "criminals" in your mind?


    Also, have you looked at US exports of refined petroleum products (like gasoline) over the last few years? We export a LOT of gasoline. Wouldn't it make sense to prohibit those exports if we wanted to lower the price per gallon within the US? However, would that actually lower the price/gal? Would Big Oil even allow their Congresscritters to support such an effort?


    Facts and logic?  What sorcery is this?!?!?
    "I've made a note never to piss you two off." - Stike


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  • Ozzie_IsaacOzzie_Isaac Posts: 16,406
    JohnInCarolina said:
    Some time ago, I made the point that there was little Biden could do that would significantly decrease the price of gas.

    Someone mentioned that, well, he could increase US production or tap the strategic reserves.  

    Biden did end up tapping the strategic reserves, which frankly, in my view was a mistake.  And the end result was a few cents on a gallon at best.

    This is why we can’t have nice things.
    This is a point we can agree on.  Releasing strategic oil reserves when we are staring down the barrel of WWIII, is a bad idea.  Unless you assume it will be nuclear.  Then it doesn't matter, might as well cash it all in while we can.

    Ever read Farnham's Freehold by R. Heinlein?
    If it is worth doing, it is worth overdoing.

    It amazes me, how many people do not realize how the future works.
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  • HighHeatHighHeat Posts: 215

    Memphis, TN
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  • HighHeatHighHeat Posts: 215
    edited July 2022

    Memphis, TN
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  • HighHeatHighHeat Posts: 215
    Comforter in Chief...


    Memphis, TN
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  • JohnInCarolinaJohnInCarolina Posts: 26,995
    Ozzie_Isaac said:
    JohnInCarolina said:
    Some time ago, I made the point that there was little Biden could do that would significantly decrease the price of gas.

    Someone mentioned that, well, he could increase US production or tap the strategic reserves.  

    Biden did end up tapping the strategic reserves, which frankly, in my view was a mistake.  And the end result was a few cents on a gallon at best.

    This is why we can’t have nice things.
    This is a point we can agree on.  Releasing strategic oil reserves when we are staring down the barrel of WWIII, is a bad idea.  Unless you assume it will be nuclear.  Then it doesn't matter, might as well cash it all in while we can.

    Ever read Farnham's Freehold by R. Heinlein?
    Have not.  I never really got into Heinlein.  I was much more into Asimov and Ray Bradbury growing up.  These days I mostly read non-fiction, with the exception of the occasional book by Turow.  
    "I've made a note never to piss you two off." - Stike


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  • Ozzie_IsaacOzzie_Isaac Posts: 16,406
    JohnInCarolina said:
    Ozzie_Isaac said:
    JohnInCarolina said:
    Some time ago, I made the point that there was little Biden could do that would significantly decrease the price of gas.

    Someone mentioned that, well, he could increase US production or tap the strategic reserves.  

    Biden did end up tapping the strategic reserves, which frankly, in my view was a mistake.  And the end result was a few cents on a gallon at best.

    This is why we can’t have nice things.
    This is a point we can agree on.  Releasing strategic oil reserves when we are staring down the barrel of WWIII, is a bad idea.  Unless you assume it will be nuclear.  Then it doesn't matter, might as well cash it all in while we can.

    Ever read Farnham's Freehold by R. Heinlein?
    Have not.  I never really got into Heinlein.  I was much more into Asimov and Ray Bradbury growing up.  These days I mostly read non-fiction, with the exception of the occasional book by Turow.  
    I liked Asimov, Bradbury never much interested me.  Might have been the first few I tried.

    I am not familiar with Turow, I do enjoy legal thrillers though.  Popcorn for the mind.  I should read more non-fiction, but usually 10 fiction to 1 non-fiction for me.  I do watch a lot of documentaries though.
    If it is worth doing, it is worth overdoing.

    It amazes me, how many people do not realize how the future works.
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  • JohnInCarolinaJohnInCarolina Posts: 26,995
    Ozzie_Isaac said:
    JohnInCarolina said:
    Ozzie_Isaac said:
    JohnInCarolina said:
    Some time ago, I made the point that there was little Biden could do that would significantly decrease the price of gas.

    Someone mentioned that, well, he could increase US production or tap the strategic reserves.  

    Biden did end up tapping the strategic reserves, which frankly, in my view was a mistake.  And the end result was a few cents on a gallon at best.

    This is why we can’t have nice things.
    This is a point we can agree on.  Releasing strategic oil reserves when we are staring down the barrel of WWIII, is a bad idea.  Unless you assume it will be nuclear.  Then it doesn't matter, might as well cash it all in while we can.

    Ever read Farnham's Freehold by R. Heinlein?
    Have not.  I never really got into Heinlein.  I was much more into Asimov and Ray Bradbury growing up.  These days I mostly read non-fiction, with the exception of the occasional book by Turow.  
    I liked Asimov, Bradbury never much interested me.  Might have been the first few I tried.

    I am not familiar with Turow, I do enjoy legal thrillers though.  Popcorn for the mind.  I should read more non-fiction, but usually 10 fiction to 1 non-fiction for me.  I do watch a lot of documentaries though.
    Turow is just an excellent writer. He makes Grisham seem like a third-grader. 
    "I've made a note never to piss you two off." - Stike


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  • Ozzie_IsaacOzzie_Isaac Posts: 16,406
    JohnInCarolina said:
    Ozzie_Isaac said:
    JohnInCarolina said:
    Ozzie_Isaac said:
    JohnInCarolina said:
    Some time ago, I made the point that there was little Biden could do that would significantly decrease the price of gas.

    Someone mentioned that, well, he could increase US production or tap the strategic reserves.  

    Biden did end up tapping the strategic reserves, which frankly, in my view was a mistake.  And the end result was a few cents on a gallon at best.

    This is why we can’t have nice things.
    This is a point we can agree on.  Releasing strategic oil reserves when we are staring down the barrel of WWIII, is a bad idea.  Unless you assume it will be nuclear.  Then it doesn't matter, might as well cash it all in while we can.

    Ever read Farnham's Freehold by R. Heinlein?
    Have not.  I never really got into Heinlein.  I was much more into Asimov and Ray Bradbury growing up.  These days I mostly read non-fiction, with the exception of the occasional book by Turow.  
    I liked Asimov, Bradbury never much interested me.  Might have been the first few I tried.

    I am not familiar with Turow, I do enjoy legal thrillers though.  Popcorn for the mind.  I should read more non-fiction, but usually 10 fiction to 1 non-fiction for me.  I do watch a lot of documentaries though.
    Turow is just an excellent writer. He makes Grisham seem like a third-grader. 
    Will check him out.  Thank you for the recommendation.
    If it is worth doing, it is worth overdoing.

    It amazes me, how many people do not realize how the future works.
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  • WildmanWilsonWildmanWilson Posts: 353
    This administration wants to bankrupt the oil industry and they have proven they don't mind driving prices up to push their eclectic vehicle agenda. They just hate to see it causing them to lose voters over the train wreck it caused. Yeah, they try to push it off on Russia but most people aren't buying it. Now the EPA is looking to attack our largest oil fields that produces 25% of our gas and 40% of our oil. I'll take" Elections Have Consequences" for a 1000 Alex... 
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  • LegumeLegume Posts: 13,635
    Where do you get these strategic insights?
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  • LegumeLegume Posts: 13,635
    Here’s a pic of an eclectic vehicle:


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  • Ozzie_IsaacOzzie_Isaac Posts: 16,406

    If it is worth doing, it is worth overdoing.

    It amazes me, how many people do not realize how the future works.
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  • nolaeggheadnolaegghead Posts: 41,049
    WildmanWilson said:
    This administration wants to bankrupt the oil industry and they have proven they don't mind driving prices up to push their eclectic vehicle agenda. They just hate to see it causing them to lose voters over the train wreck it caused. Yeah, they try to push it off on Russia but most people aren't buying it. Now the EPA is looking to attack our largest oil fields that produces 25% of our gas and 40% of our oil. I'll take" Elections Have Consequences" for a 1000 Alex... 
    having a member who’s part of a Russian troll farm I guess is representative of the GOP of today that push their agenda.  I prefer American Corn Farmers, though.
    ______________________________________________
    I collect junk and work as a lowly lab technician at the bench!!!!!
    WEEEEEEEEEEEEEEEE!  GREATNESS!!!!!!!!!
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  • HeavyGHeavyG Posts: 9,210
    Legume said:
    Here’s a pic of an eclectic vehicle:



    Cool!
    I like to watch RuPaul's "Drag Race" just to see all the eclectic vehicles.
    “Reality is that which, when you stop believing in it, doesn't go away.” ― Philip K. Diçk

    Camped out in the (757/948/804)




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  • HeavyGHeavyG Posts: 9,210


    “Reality is that which, when you stop believing in it, doesn't go away.” ― Philip K. Diçk

    Camped out in the (757/948/804)




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  • fishlessmanfishlessman Posts: 30,856
    high gas prices in june, dow soars......gotta love how that works
    fukahwee maine

    you can lead a fish to water but you can not make him drink it
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  • WildmanWilsonWildmanWilson Posts: 353
    edited July 2022
    fishlessman said:
    high gas prices in june, dow soars......gotta love how that works
    What's your definition of soars? LOL I think you mean inflation soars...
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  • WildmanWilsonWildmanWilson Posts: 353
    nolaegghead said:
    WildmanWilson said:
    This administration wants to bankrupt the oil industry and they have proven they don't mind driving prices up to push their eclectic vehicle agenda. They just hate to see it causing them to lose voters over the train wreck it caused. Yeah, they try to push it off on Russia but most people aren't buying it. Now the EPA is looking to attack our largest oil fields that produces 25% of our gas and 40% of our oil. I'll take" Elections Have Consequences" for a 1000 Alex... 
    having a member who’s part of a Russian troll farm I guess is representative of the GOP of today that push their agenda.  I prefer American Corn Farmers, though.
    Is there ever a case or instance when you guys don't blame Russia ?
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  • fishlessmanfishlessman Posts: 30,856
    WildmanWilson said:
    fishlessman said:
    high gas prices in june, dow soars......gotta love how that works
    What's your definition of soars? LOL I think you mean inflation soars...

    dows up 2 percent today......biden did that :D
    fukahwee maine

    you can lead a fish to water but you can not make him drink it
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  • fishlessmanfishlessman Posts: 30,856
    now fentanyl prices are going to go up.....whats next

    1M pills with fentanyl seized in record bust

    fukahwee maine

    you can lead a fish to water but you can not make him drink it
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  • lousubcaplousubcap Posts: 28,150
    MBS has some kid of power- Thursday, regular unleaded reformulated gas around here was 4.59.99/gal.  This AM (Sat) it was $4.29.99/gal and this PM 4.25.99/gal.  Dang!
    Louisville; "indeterminate Jim" here.  Rolling smoke in the neighbourhood. # 38 for the win.  Life is too short for light/lite beer!
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  • dmchicagodmchicago Posts: 4,292
    lousubcap said:
    MBS has some kid of power- Thursday, regular unleaded reformulated gas around here was 4.59.99/gal.  This AM (Sat) it was $4.29.99/gal and this PM 4.25.99/gal.  Dang!
    I wonder what we could get for Tucker?
    Philly - Kansas City - Houston - Cincinnati - Dallas - Houston - Memphis - Austin - Chicago - Austin

    Large BGE. OONI 16, TOTO Washlet S550e (Now with enhanced Motherly Hugs!)

    "If I wanted my balls washed, I'd go to the golf course!"
    Dennis - Austin,TX
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