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Gas Prices...
Mr. Jones Offline
#351 Posted:
Joined: 06-12-2005
Posts: 17,080
$4.99-$5.05 regular
Central PA
rfenst Offline
#352 Posted:
Joined: 06-23-2007
Posts: 36,992
MACS wrote:
Boy... you'd think after we saved Kuwait's arse they would send a little relief our way. Anxious

Filled up a week ago at Sam's and it was $6 a gallon for the cheap stuff.

That, and we should have confiscated Iraq's oil, just enough to pay us back, for what we spent there.
frankj1 Offline
#353 Posted:
Joined: 02-08-2007
Posts: 42,416
deadeyedick wrote:
Gas Prices Per Gallon USD by Country as of June 1st -

Australia $5.45
Belgium $8.10
Benin $3.73
Brazil $5.78
Canada $6.49
China $5.50
Denmark $10.02
France $8.06
Finland $9.64
Germany $8.80
Greece $9.29
Hong Kong $11.21
Iceland $9.47
India $5.09
Ireland $7.91
Israel $8.24
Italy $7.78
Japan $4.85
Jordan $6.30
Kuwait $1.30
Madagascar $3.84
Malawi $6.32
Mexico $4.55
Mozambique $4.59
Netherlands $9.20
Norway $10.70
Pakistan $3.43
Poland $6.52
Qatar $2.18
Russia $3.03
Saudi Arabia $2.35
Sierra Leone $4.34
Singapore $8.76
Sweden $9.05
Turkey $5.80
Ukraine $6.51
United Kingdom $8.17
United States $4.79
Zimbabwe $5.46


Biden?
Whistlebritches Offline
#354 Posted:
Joined: 04-23-2006
Posts: 21,733
frankj1 wrote:
Biden?



While I am sure his policies have trickled over into some other countries.............I DGAF about those other countries,the US had reasonably priced fuel,was energy independent and exporting a small amount when Braindead Joe took office.When you're energy independent the global ups and downs in the fuel sector tend to effect you little.I do not blame Joe for the price of fuel worldwide.......... I blame that stupid basturd for what he has **** ed up here.


Take a good look at the price of fuel in those energy independent countries on the list..........quite the contrast huh


LET'S GO BRANDON
MACS Offline
#355 Posted:
Joined: 02-26-2004
Posts: 75,940
Whistlebritches wrote:
LET'S GO BRANDON


This. 100% this.

Biden is an absolute train wreck. Train. Wreck.

If you cannot see it... I don't know what's wrong with you.
JGKAMIN Offline
#356 Posted:
Joined: 05-08-2011
Posts: 892
Build Back Better!
Whistlebritches Offline
#357 Posted:
Joined: 04-23-2006
Posts: 21,733
JGKAMIN wrote:
Build Back Better!



If we could only get the moron to build it back the way it was I'd be happy..........then he could sit around scratching his azz and picking his nose the next two and a half years and America would be better off
HockeyDad Offline
#358 Posted:
Joined: 09-20-2000
Posts: 43,940
frankj1 wrote:
Biden?


Your apology is accepted.
Sunoverbeach Offline
#359 Posted:
Joined: 08-11-2017
Posts: 12,572
I could go for a nice Qatar commute currently. Anyone hiring there?
delta1 Offline
#360 Posted:
Joined: 11-23-2011
Posts: 27,496
back in the George W. Bush day, when gas prices were jumping from $1.50/gal to $4/gal, we on the left heaped blame on the POTUS, until our brethren on the right argued that the POTUS has no impact on gas prices. So, when gas prices went up when Trump was POTUS we didn't blame Trump...we griped about the greedy oil companies...

Here are some arguments about POTUS and gas prices that I first heard when GWB was POTUS and was blamed for rising gas prices:

https://principlebasedpolitics.org/gas-prices-were-talking-about-gas-prices/?gclid=CjwKCAjw46CVBhB1EiwAgy6M4tTARbUD3HYpI6l31h1qB1gOQMz6np4ZQNVirtgRfDbFT_2bVw3UDhoC93AQAvD_BwE
Mr. Jones Offline
#361 Posted:
Joined: 06-12-2005
Posts: 17,080
Dr. Jill says: "it's not my JOEY's fault...it's those bad bad men in Russia and Saudi Arabia ( where they buy and sell white women's like cattle in the sex trade...then dump them overboard in the Mediterranean from those million dollar luxury yacht's when they get bored with them)"
rfenst Offline
#362 Posted:
Joined: 06-23-2007
Posts: 36,992
How Much Of The Gasoline Price Surge Is President Biden’s Fault?

Forbes (3-13-22)

One year ago this week I wrote an article that turned out to be my most popular Forbes article ever: Who Is To Blame For Rising Gasoline Prices? The article got more than a million views, and spawned a large amount of feedback.
A year later, the same dynamic I wrote about then is still responsible for most — but not all — of the gasoline price increase we have seen over the past 18 months.

The Covid Effect
To recap, just before the Covid-19 pandemic, U.S. oil production hit an all-time high of about 13 million barrels per day (BPD). As the pandemic unfolded, demand for oil collapsed, and production followed. By May 2020, oil production had dropped by more than 3 million BPD to 9.7 million BPD.

When the pandemic crushed oil demand in 2020, some oil companies went out of business. Some small stripper wells — which account for a respectable amount of U.S. oil production — were permanently capped because of the bleak outlook. Some workers left the oil industry. As people went back to work, demand began to bounce back, but production lagged due to the aforementioned issues.

Following the production collapse of 2020, the U.S. has been playing catch up as demand recovered. Rising oil prices — in response to insufficient supplies — are the predominant reason for the surge in gasoline prices.

In the last three months of the Trump Administration, oil prices rose by 32% as demand bounced back. From a monthly average of $39.40/bbl in October 2020 (source), the price of West Texas Intermediate (WTI) averaged $52.00/bbl in January 2021 — Trump’s last month in office.

In the first three months of the Biden Administration, the average monthly price of WTI rose by another 19% to $61.72/bbl. In the three months after that, prices rose another 17% to $72.49/bbl. Prices then bounced between $70/bbl and $80/bbl until January 2022. More on that below.

Many people attributed the entire price rise to President Biden, but in reality it began before Biden took office. Further, it was neither primarily President Trump nor President Biden’s fault — and these price surges were taking place all over the world.

To be clear, the stimulus money that both presidents approved had some impact. When people have more money, they spend it. Demand for goods rises, driving inflation. Stimulus money played a minor part in the gasoline price rise, but it was primarily a function of the oil price surge due to the imbalance brought on in the aftermath of the Covid-19 demand plunge.

The most recent data available from the Energy Information Administration (EIA) shows current U.S. oil production at ~11.6 million BPD, which is still 1.4 million BPD short of pre-pandemic production. Supply is going to lag demand for a bit longer, and that’s going to keep upward pressure on gasoline prices.

The Putin Effect
But now let’s discuss something that President Biden did impact. I often point out that a President has few handles for impacting gasoline prices in the short term. Those handles are primarily 1). Releases of oil from the Strategic Petroleum Reserve; 2). Changing the gasoline tax; or 3). Involvement in a war with a major oil producer. All of these things can have a rapid impact on gasoline prices.

When it looked like Russia was massing troops on Ukraine’s border, oil prices broke out above the 2021 range. In January 2022, the average price of WTI moved up to $83.22/bbl. In February, when Russia actually invaded Ukraine, the average price jumped to $91.64/bbl. I attribute this price rise primarily to Vladimir Putin, combined with the world’s response to the invasion.

However, there is one action that President Biden does bear responsibility for. Biden’s decision to stop importing Russian oil was the trigger for oil prices surging above $120/bbl. They have retreated from that level for now, but the inefficiencies involved in rerouting Russian imports and backfilling that oil will keep a premium on prices.

I am not making any judgments here on whether it was the right or wrong decision. And I agree that Biden made the decision in response to Russia’s actions against Ukraine.

You may believe that banning Russian oil was the right move, but it does impact gasoline prices. It is arguably the first decision President Biden has made that had an immediate, short-term impact.

I say “arguably” because Biden has authorized some releases of oil from the Strategic Petroleum Reserve, and they may have had an impact. However, if they did it was fleeting, and only provided a small, temporary supply bump in a market that is significantly undersupplied.

Many people believe that cancellation of the Keystone XL pipeline by President Biden has impacted gasoline prices. But that’s a potential long-term impact. The Keystone XL decision doesn’t impact prices today, but its absence may very well result in higher prices in the future. Biden’s decision to ban Russian oil, on the other hand, has an immediate impact on prices.



Robert Rapier is a chemical engineer in the energy industry. Robert has 25 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries, and holds several patents related to his work. He has worked in the areas of oil refining, oil production, synthetic fuels, biomass to energy, and alcohol production. He is author of Utility Forecaster at Investing Daily, and of the book Power Plays: Energy Options in the Age of Peak Oil. Robert has appeared on 60 Minutes, The History Channel, CNBC, Business News Network, CBC, and PBS, and his energy-themed articles have appeared in numerous media outlets, including the Wall Street Journal, Washington Post, Christian Science Monitor, and The Economist.


Posted for the intermediate history of the problem, not politics.
Whistlebritches Offline
#363 Posted:
Joined: 04-23-2006
Posts: 21,733
delta1 wrote:
back in the George W. Bush day, when gas prices were jumping from $1.50/gal to $4/gal, we on the left heaped blame on the POTUS, until our brethren on the right argued that the POTUS has no impact on gas prices. So, when gas prices went up when Trump was POTUS we didn't blame Trump...we griped about the greedy oil companies...

Here are some arguments about POTUS and gas prices that I first heard when GWB was POTUS and was blamed for rising gas prices:

https://principlebasedpolitics.org/gas-prices-were-talking-about-gas-prices/?gclid=CjwKCAjw46CVBhB1EiwAgy6M4tTARbUD3HYpI6l31h1qB1gOQMz6np4ZQNVirtgRfDbFT_2bVw3UDhoC93AQAvD_BwE



Al George W Bush is not our current president...........FOCUS!!!!
Whistlebritches Offline
#364 Posted:
Joined: 04-23-2006
Posts: 21,733
rfenst wrote:
How Much Of The Gasoline Price Surge Is President Biden’s Fault?

Forbes (3-13-22)

One year ago this week I wrote an article that turned out to be my most popular Forbes article ever: Who Is To Blame For Rising Gasoline Prices? The article got more than a million views, and spawned a large amount of feedback.
A year later, the same dynamic I wrote about then is still responsible for most — but not all — of the gasoline price increase we have seen over the past 18 months.

The Covid Effect
To recap, just before the Covid-19 pandemic, U.S. oil production hit an all-time high of about 13 million barrels per day (BPD). As the pandemic unfolded, demand for oil collapsed, and production followed. By May 2020, oil production had dropped by more than 3 million BPD to 9.7 million BPD.

When the pandemic crushed oil demand in 2020, some oil companies went out of business. Some small stripper wells — which account for a respectable amount of U.S. oil production — were permanently capped because of the bleak outlook. Some workers left the oil industry. As people went back to work, demand began to bounce back, but production lagged due to the aforementioned issues.

Following the production collapse of 2020, the U.S. has been playing catch up as demand recovered. Rising oil prices — in response to insufficient supplies — are the predominant reason for the surge in gasoline prices.

In the last three months of the Trump Administration, oil prices rose by 32% as demand bounced back. From a monthly average of $39.40/bbl in October 2020 (source), the price of West Texas Intermediate (WTI) averaged $52.00/bbl in January 2021 — Trump’s last month in office.

In the first three months of the Biden Administration, the average monthly price of WTI rose by another 19% to $61.72/bbl. In the three months after that, prices rose another 17% to $72.49/bbl. Prices then bounced between $70/bbl and $80/bbl until January 2022. More on that below.

Many people attributed the entire price rise to President Biden, but in reality it began before Biden took office. Further, it was neither primarily President Trump nor President Biden’s fault — and these price surges were taking place all over the world.

To be clear, the stimulus money that both presidents approved had some impact. When people have more money, they spend it. Demand for goods rises, driving inflation. Stimulus money played a minor part in the gasoline price rise, but it was primarily a function of the oil price surge due to the imbalance brought on in the aftermath of the Covid-19 demand plunge.

The most recent data available from the Energy Information Administration (EIA) shows current U.S. oil production at ~11.6 million BPD, which is still 1.4 million BPD short of pre-pandemic production. Supply is going to lag demand for a bit longer, and that’s going to keep upward pressure on gasoline prices.

The Putin Effect
But now let’s discuss something that President Biden did impact. I often point out that a President has few handles for impacting gasoline prices in the short term. Those handles are primarily 1). Releases of oil from the Strategic Petroleum Reserve; 2). Changing the gasoline tax; or 3). Involvement in a war with a major oil producer. All of these things can have a rapid impact on gasoline prices.

When it looked like Russia was massing troops on Ukraine’s border, oil prices broke out above the 2021 range. In January 2022, the average price of WTI moved up to $83.22/bbl. In February, when Russia actually invaded Ukraine, the average price jumped to $91.64/bbl. I attribute this price rise primarily to Vladimir Putin, combined with the world’s response to the invasion.

However, there is one action that President Biden does bear responsibility for. Biden’s decision to stop importing Russian oil was the trigger for oil prices surging above $120/bbl. They have retreated from that level for now, but the inefficiencies involved in rerouting Russian imports and backfilling that oil will keep a premium on prices.

I am not making any judgments here on whether it was the right or wrong decision. And I agree that Biden made the decision in response to Russia’s actions against Ukraine.

You may believe that banning Russian oil was the right move, but it does impact gasoline prices. It is arguably the first decision President Biden has made that had an immediate, short-term impact.

I say “arguably” because Biden has authorized some releases of oil from the Strategic Petroleum Reserve, and they may have had an impact. However, if they did it was fleeting, and only provided a small, temporary supply bump in a market that is significantly undersupplied.

Many people believe that cancellation of the Keystone XL pipeline by President Biden has impacted gasoline prices. But that’s a potential long-term impact. The Keystone XL decision doesn’t impact prices today, but its absence may very well result in higher prices in the future. Biden’s decision to ban Russian oil, on the other hand, has an immediate impact on prices.



Robert Rapier is a chemical engineer in the energy industry. Robert has 25 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries, and holds several patents related to his work. He has worked in the areas of oil refining, oil production, synthetic fuels, biomass to energy, and alcohol production. He is author of Utility Forecaster at Investing Daily, and of the book Power Plays: Energy Options in the Age of Peak Oil. Robert has appeared on 60 Minutes, The History Channel, CNBC, Business News Network, CBC, and PBS, and his energy-themed articles have appeared in numerous media outlets, including the Wall Street Journal, Washington Post, Christian Science Monitor, and The Economist.


Posted for the intermediate history of the problem, not politics.


Worthless read Robert........this is simple,Biden cut all drilling and production on federal lands and offshore.He killed our energy independence which threw us into the tailspin we are currently in.You can c-n-p all the spin articles you want the facts are simple and straightforward, Biden is a walking clusterfuck
delta1 Offline
#365 Posted:
Joined: 11-23-2011
Posts: 27,496
Gotcha....rising gas prices when GOP is POTUS (GWB and Trump) OK, not his fault...when Dem is POTUS rising gas prices bad and his fault...

basic law of supply and demand is the driver, and the oil companies have much more input in that law...Trump's crowing about dropping gas prices during his last year in office ignores the facts that people were staying home and most small businesses were closed due to the pandemic and high unemployment, not driving much...you remember all the ghost towns and open highways then?


more facts:
https://www.convenience.org/Media/conveniencecorner/Does-the-President-Control-Gas-Prices


https://www.forbes.com/sites/rrapier/2022/03/13/how-much-of-the-gasoline-price-surge-is-president-bidens-fault/?sh=7dc4dc577c8b
Whistlebritches Offline
#366 Posted:
Joined: 04-23-2006
Posts: 21,733
delta1 wrote:
Gotcha....rising gas prices when GOP is POTUS (GWB and Trump) OK, not his fault...when Dem is POTUS rising gas prices bad and his fault...

basic law of supply and demand is the driver, and the oil companies have much more input in that law...Trump's crowing about dropping gas prices during his last year in office ignores the facts that people were staying home and most small businesses were closed due to the pandemic and high unemployment, not driving much...you remember all the ghost towns and open highways then?


more facts:
https://www.convenience.org/Media/conveniencecorner/Does-the-President-Control-Gas-Prices


https://www.forbes.com/sites/rrapier/2022/03/13/how-much-of-the-gasoline-price-surge-is-president-bidens-fault/?sh=7dc4dc577c8b



Al for some reason I do not remember $6 gas...........refresh my memory

At what date under whose presidency did we reach energy independence???Let me help you here you may choke on the answer.......2019,Trump,What was the average price of gas in 2019....again please don't choke it'll be ok........$2.64................energy independence is what controls "OUR" fuel prices.You can post all the liberal BS you want,Facts are facts my friend.Why would demand be so much greater in 2022 than 2019 with all these electric vehicles hitting the road????? It isn't ,supply is down due to Bidens idiotic response to anything Trump......anything.Look at our border,look at international affairs,look at Ukraine............Biden could **** up a train wreck with a rubber hammer.Its time the people of this country became less obsessed with party and laser'd in on results.The day that happens not one more liberal will be able to schit on this country at will.

I know that's alot to research in which zero truthful answers can be found.Smoke a good one and stop the head spinning
RFAZ Offline
#367 Posted:
Joined: 08-05-2017
Posts: 2
MACS wrote:
Boy... you'd think after we saved Kuwait's arse they would send a little relief our way. Anxious

Filled up a week ago at Sam's and it was $6 a gallon for the cheap stuff.

RFAZ Offline
#368 Posted:
Joined: 08-05-2017
Posts: 2
deadeyedick wrote:
Gas Prices Per Gallon USD by Country as of June 1st -

Australia $5.45
Belgium $8.10
Benin $3.73
Brazil $5.78
Canada $6.49
China $5.50
Denmark $10.02
France $8.06
Finland $9.64
Germany $8.80
Greece $9.29
Hong Kong $11.21
Iceland $9.47
India $5.09
Ireland $7.91
Israel $8.24
Italy $7.78
Japan $4.85
Jordan $6.30
Kuwait $1.30
Madagascar $3.84
Malawi $6.32
Mexico $4.55
Mozambique $4.59
Netherlands $9.20
Norway $10.70
Pakistan $3.43
Poland $6.52
Qatar $2.18
Russia $3.03
Saudi Arabia $2.35
Sierra Leone $4.34
Singapore $8.76
Sweden $9.05
Turkey $5.80
Ukraine $6.51
United Kingdom $8.17
United States $4.79
Zimbabwe $5.46



Most of these counties are getting oil from Russia. The USA can and should be relying on our own oil rather than buying from Russia, Saudis or any other country. Sleepy Joe distroyed this day one when he took office.
Whistlebritches Offline
#369 Posted:
Joined: 04-23-2006
Posts: 21,733
RFAZ wrote:
Most of these counties are getting oil from Russia. The USA can and should be relying on our own oil rather than buying from Russia, Saudis or any other country. Sleepy Joe distroyed this day one when he took office.



Kuwait,Qater and Saudi damn sure aren't relying on Russia and look at those prices.Lets face it Joe has no clue or just doesn't give a flying ****...........either way Americans suffer and he and his party continue to let it happen.
JGKAMIN Offline
#370 Posted:
Joined: 05-08-2011
Posts: 892
Gas prices quickly shot up under Bush but then dropped to around $1.75/gallon before leaving office and watched them steadily climb under Obama.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m
BuckyB93 Offline
#371 Posted:
Joined: 07-16-2004
Posts: 12,647
Biden blames oil companies and Putin for the rise in oil prices. Demands oil companies to increase refinery capacity.

For you extreme lefties and Biden apologists I'll post a link to one of your favorite brain washing sources
https://www.cnn.com/2022/06/15/politics/joe-biden-oil-companies/index.html

Deflection, deflection, deflection...

On day one of his presidency, he paved a path to where we are now but accepts no responsibility or accountability.

Why would a company invest in creating new domestic refineries or work with the current administration that has vowed to exterminate the use of fossil fuels and demonize them them at every opportunity?
A real leader would convene a meeting with the suppliers and work out a way to move forward but Biden sends a "I blame you" letter..

FU Brandon!
MACS Offline
#372 Posted:
Joined: 02-26-2004
Posts: 75,940
Cost me $128 to fill up today... and I only put 21.33 gallons in the tank.
rfenst Offline
#373 Posted:
Joined: 06-23-2007
Posts: 36,992
Whistlebritches wrote:
Worthless read Robert........this is simple,Biden cut all drilling and production on federal lands and offshore.He killed our energy independence which threw us into the tailspin we are currently in.You can c-n-p all the spin articles you want the facts are simple and straightforward, Biden is a walking clusterfuck

You completely missed the point of why I posted the article as explained in blue. BDS?

I didn't post this to support Bidden. I posted it for the history of oil prices, market changes, and the reasons over the last 2-2.5 years, a time-frame that began well prior to Covid or Biden.

And, I am not saying it's Trump's fault either, even though oil prices increased dramatically over the last several months of his presidency. Again, I don't blame him for that.

Read most of the first half of the article and the facts it lays out. It's numbers and facts, not politics that I posted the article for people to read.
Whistlebritches Offline
#374 Posted:
Joined: 04-23-2006
Posts: 21,733
rfenst wrote:
You completely missed the point of why I posted the article as explained in blue. BDS?

I didn't post this to support Bidden. I posted it for the history of oil prices, market changes, and the reasons over the last 2-2.5 years, a time-frame that began well prior to Covid or Biden.

And, I am not saying it's Trump's fault either, even though oil prices increased dramatically over the last several months of his presidency. Again, I don't blame him for that.

Read most of the first half of the article and the facts it lays out. It's numbers and facts, not politics that I posted the article for people to read.



I did not miss the point..........I do not believe their premise.When a puzzle is assembled all the pieces fit.


Ron
MACS Offline
#375 Posted:
Joined: 02-26-2004
Posts: 75,940
RFAZ wrote:
Most of these counties are getting oil from Russia. The USA can and should be relying on our own oil rather than buying from Russia, Saudis or any other country. Sleepy Joe distroyed this day one when he took office.


YUP.
Palama Offline
#376 Posted:
Joined: 02-05-2013
Posts: 20,023
MACS wrote:
Cost me $128 to fill up today... and I only put 21.33 gallons in the tank.


By any chance are you going to Grants Pass? Think
rfenst Offline
#377 Posted:
Joined: 06-23-2007
Posts: 36,992
Whistlebritches wrote:
I did not miss the point..........I do not believe their premise.When a puzzle is assembled all the pieces fit.
Ron

So, you are saying you are in the "puzzle room"? LOL.
tonygraz Offline
#378 Posted:
Joined: 08-11-2008
Posts: 18,625
While in Maine last week only a few gas increases from 4.95 to 5.21. When I got back I noticed the price at my usual station down about 0.15. Hope the trend continues, but gas conservation doesn't seem to be commonplace.
MACS Offline
#379 Posted:
Joined: 02-26-2004
Posts: 75,940
I got yer conservation... driving a loaded down 5.7L Hemi V8 from CA to Florida in 3 weeks. Hope gas comes down some, but I ain't holding my breath.

Once I leave CA it'll drop about a buck a gallon... and it'll be better gas, too.
ZRX1200 Offline
#380 Posted:
Joined: 07-08-2007
Posts: 57,766
How many blends is California up to, 5 or 7?
HockeyDad Offline
#381 Posted:
Joined: 09-20-2000
Posts: 43,940
ZRX1200 wrote:
How many blends is California up to, 5 or 7?


220, 221…whatever it takes.
ZRX1200 Offline
#382 Posted:
Joined: 07-08-2007
Posts: 57,766
These seniors who’ve been bamboozled with fear into voting one way have a big surprise in store. Lots of service stuff is ceasing home deliveries….when the weather gets hot here it’s gonna get real interesting.
MACS Offline
#383 Posted:
Joined: 02-26-2004
Posts: 75,940
Yeah, and the Douchebag in Chief just managed the highest Medicare price hikes in history.

All good... they'll die and still vote for a democrat.
Stogie1020 Offline
#384 Posted:
Joined: 12-19-2019
Posts: 3,513
HockeyDad wrote:
220, 221…whatever it takes.

I have great respect for anyone who knows/uses/references this quote.

Thank you good sir.


Of the 200-300 times I have used this reference with my wife, she still has no idea what I am talking about.
HockeyDad Offline
#385 Posted:
Joined: 09-20-2000
Posts: 43,940
MACS wrote:
Yeah, and the Douchebag in Chief just managed the highest Medicare price hikes in history.

All good... they'll die and still vote for a democrat.


‘Rona didn’t get them so we will charge them more.
tonygraz Offline
#386 Posted:
Joined: 08-11-2008
Posts: 18,625
rfenst wrote:
So, you are saying you are in the "puzzle room"? LOL.


He's not playing with all the pieces, only the ones he likes and hasn't thrown away in anger.
Mike3316 Offline
#387 Posted:
Joined: 02-05-2022
Posts: 306
Stogie1020 wrote:
I have great respect for anyone who knows/uses/references this quote.

Thank you good sir.


Of the 200-300 times I have used this reference with my wife, she still has no idea what I am talking about.

Clearly, you sound like a pretty handy guy. lol
rfenst Offline
#388 Posted:
Joined: 06-23-2007
Posts: 36,992
Florida gas prices drop for third consecutive week, but AAA says rebound is possible


Tallahassee Democrat

Florida’s average gasoline prices dropped by 10 cents over the last week, a sign that points to relief for drivers who have been paying upwards of $70 to fill a 15-gallon tank.

The drop following the Independence Day holiday marks the third week in a row gas prices have fallen for a total of a 35-cent decline, according to the weekly briefing by AAA-The Auto Club Group. The average price across the Sunshine State Wednesday was $4.54 a gallon.

The steady declines are linked to falling crude oil prices and instability in the global economic forecast, but they could be short-lived, say industry experts.

The steady declines are linked to falling crude oil prices and instability in the global economic forecast, said AAA spokesman Mark Jenkins, but they could be short-lived. Gasoline is refined from crude oil, making its market price a major factor of cost passed on to motorists.

"Gas prices are being dragged lower by falling crude oil prices, which suffered steep losses Tuesday, on worries of a global economic slowdown," Jenkins said in his weekly briefing. "If these futures price drops hold, drivers could see Florida gas prices drift back below $4.10 per gallon. However, this is still an extremely volatile fuel market, and we've seen oil prices rebound so many times in the past several months."

Crude oil prices dropped below $100 a barrel for the first time in eight weeks on Tuesday, settling at $99.50.

Despite the drop in prices, drivers over the holiday weekend saw the highest July 4 prices ever. Average prices hovered at $4.55 a gallon, nearly 50 cents more than the previous high price set on July 4, 2008.
MACS Offline
#389 Posted:
Joined: 02-26-2004
Posts: 75,940
Still $6+ a gallon in Taxifornia.
deadeyedick Offline
#390 Posted:
Joined: 03-13-2003
Posts: 14,812
MACS wrote:
Still $6+ a gallon in Taxifornia.


Get just enough gas to make it into Az and fill up. Outta save about $25 or so.
RayR Offline
#391 Posted:
Joined: 07-20-2020
Posts: 6,223
I heard Biden shipped oil from the Strategic Oil Reserve to Europe and China.
Gene363 Offline
#392 Posted:
Joined: 01-24-2003
Posts: 28,547
Prices have dropped a little in South Carolina. I bought diesel for $5.05 gallon at Sam's Club.
8trackdisco Offline
#393 Posted:
Joined: 11-06-2004
Posts: 57,203
$4.45. Down .45 from the high.
Dg west deptford Offline
#394 Posted:
Joined: 05-25-2019
Posts: 2,834
Wouldn't giving our strategic oil reserves to our enemy constitute treason?

How much does Hunter & the big guy owe Xi anyway?
RayR Offline
#395 Posted:
Joined: 07-20-2020
Posts: 6,223
Yep, the Biden is treasonous, he sent oil from the Strategic Oil Reserves to Xi. Not sure exactly what the kickback is to Hunter & the big guy, but I'm sure it's a treasonous amount.
Stogie1020 Offline
#396 Posted:
Joined: 12-19-2019
Posts: 3,513
Oh, about 10%....
BuckyB93 Offline
#397 Posted:
Joined: 07-16-2004
Posts: 12,647
Biden's latest scapegoat for the cost of gas... Gas station owners.

https://reason.com/2022/07/05/sorry-biden-gas-stations-cant-just-bring-down-the-price/

The guy is truly senile.
rfenst Offline
#398 Posted:
Joined: 06-23-2007
Posts: 36,992
US on ‘cusp’ of falling gas prices


Politico

Gasoline futures fell more than 10 percent Tuesday and are down more than 22 percent since June, raising hopes that the high price of gas across the country might soon fall.

The price of U.S. crude oil fell more than 8 percent and international benchmark Brent crude fell nearly 10 percent on Tuesday.

“We’re on the cusp of seeing more savings,” said Patrick De Haan, head of petroleum analysis at gas price tracking site GasBuddy. “I’m trying to be a little bit optimistic here that this relief could make its entire way to the pump in the weeks ahead.”

The national average for a gallon of gasoline now stands at $4.78, according to AAA, down from a recent peak above $5 per gallon. A year ago, the national average was only $3.13, representing a 50 percent year-over-year spike in the price of gas.

And any drop in gasoline prices may also provide some political respite for the Biden administration, since even though presidents have little control over gasoline prices, they still face blame from voters and their political foes.

The price of U.S. crude oil was hovering around $98 per barrel on Wednesday afternoon, down from about $108 late last week. Brent crude fell to about $101 per barrel, down from about $111 late last week.

Earlier Wednesday, Brent prices briefly dipped below $100, the first time since April prices have been under $100 for the commodity.

Experts said they expect this trend to result in drops at the pump.

Marianne Kah, an adjunct senior research scholar at Columbia University’s Center on Global Energy Policy, said she expects the current drop in crude oil prices to translate to about a 12 percent decline — or about 60 cents — in gasoline prices from their peak level last month.

“We’re talking about 60 cents a gallon,” said Kah, who is also the former chief economist at oil company ConocoPhillips. “Now, of course it takes time to have the crude price flow through to the gasoline price.”

Meanwhile, De Haan said he thinks consumers could see another decline in the coming weeks ranging from an additional 40 cents to an additional 65 cents if the situation otherwise remains the same.

“The average price per gallon could fall 40 to 65 cents over the coming weeks,” he said, adding that the drop could be over a three- to six-week period.

“Stations are getting lower prices already,” he added. “Prices could go down a penny or two every day or two for the next six weeks as long as nothing changes.”

Experts say the decline is a double-edged sword, since the cheaper price isn’t due to any real changes on the supply side but rather to consumers scaling back their expenses and pulling down the expectation of demand.

“I think you’ll see gas prices come down,” Phil Flynn, energy markets analyst with the PRICE Futures Group, said in an interview with The Hill.

“We’re starting to see from the consumers, instead of paying $5 a gallon, they’re paying $4.80 a gallon — and isn’t that wonderful — but it’s also because they don’t have as much money in their pockets, and they’re not going out to dinner and to eat, so what we’re seeing is a pullback in demand. And that’s because people are feeling the pain of higher prices.”

But Kah also said there are still factors that could increase energy prices in the coming months, including if Russia decreases its oil production or if China’s demand grows.

Meanwhile, major banks this week are out with vastly different outlooks on the future of oil prices.

JPMorgan predicted that prices could rise as high as $380 a barrel in “the most extreme scenario” if Russia reduces its output.

Citibank projected that if a recession hits, oil prices could fall to $65 per barrel this year and $45 per barrel next year.

“It just highlights the volatility and just even the difference in thinking,” De Haan said. “We just don’t know how things will play out. We still have an active hurricane season. The economy’s not too bad, even amidst recession fears. The jobs market is still very strong.”

But analysts agree that the current price drops are largely due to recession fears.

“It’s because of all the interest rate increases,” Kah said. “We’ve seen that [with] big interest rate increases, a recession follows with a lag historically, so expectations about a recession have increased.”

The decreased economic activity means the likelihood of a recession in the next year is increasing. An economic model from Bloomberg now puts the odds of a recession at 38 percent in 2023, according to tweet from the company Wednesday.

Experts say this drop in crude oil prices is also caused by decreased expectations in the energy needs of consumers and businesses as they adjust to high inflation.

The signs that inflation may have hit a peak and that prices could soon start falling across a range of sectors and categories are beginning to pile up, with commodity prices in particular taking a hit in the last few days.

Deutsche Bank analyst Jim Reid wrote in a Wednesday note to investors that a “rolling 20-day move in [Deutsche Bank’s] commodity index is now seeing around the third largest decline in 90 years.”

“The traditional industrial bellwether of copper was another victim of this trend, plummeting by another -5.36 percent yesterday to a 19-month low of its own, whilst wheat futures (-4.61 percent) are now trading beneath their levels prior to Russia’s invasion of Ukraine,” Reid wrote along with analysts Henry Allen and Tim Wessel.

In the consumer goods sector, numerous big box outlets like Walmart, Target and Bed Bath & Beyond have been dealing with excess inventories that could force continued markdowns and liquidations. Metrics that compare inventories to sales show that while lower prices may be on the horizon for consumers, the jostled supply chains that drive inflation are still out of whack.

Stacked-up inventories have also been reported for the semiconductor industry in South Korea. Computer chips produced by Samsung are used in a vast array of industries. Therefore, liquidation in that sector could lead to outcomes like more cars on dealer lots and more graphics cards available for the gaming industry.

“We’re seeing that high prices cure high prices,” PRICE Futures Group’s Flynn said.

“But I think we’re in a super-cycle here for a long period of time,” he added. “I think we’re in for a decade of higher prices. We’re going to see some peaks and valleys along the way, and just because we’re having a correction at the moment, I don’t think this is over yet.”
RayR Offline
#399 Posted:
Joined: 07-20-2020
Posts: 6,223
BuckyB93 wrote:
Biden's latest scapegoat for the cost of gas... Gad station owners.

https://reason.com/2022/07/05/sorry-biden-gas-stations-cant-just-bring-down-the-price/

The guy is truly senile.


Ya that Biden guy is a real douch weasel.
“Bring down the price you are charging at the pump to reflect the cost you’re paying for the product,” the dipchit President had written on Twitter. “And do it now.”

Gas station owners don't make much on a gallon of gas, I heard the head of the gas station owners association say that the gross profit on a gallon of gasoline runs usually about $.08/GAL up to $.25/GAL in some areas. The governments score more than that in TAXES. That's why they have convenience stores attached, that's where they make most of their profits.
MACS Offline
#400 Posted:
Joined: 02-26-2004
Posts: 75,940
Just paid $5.59/9 at Costco.
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