Why did gas prices almost double? Keystone pipeline work shut down? Not imo, it wasn't operating yet. My best guess is profiteering by the oil/gas companies and the government since gas tax is a % of the total.
Nope. It's speculation. This administration has shut down any type of future domestic gas production projects, so the market reflects the fact that we'll be once again reliant upon the camel jockeys for our fuel. The markets don't like that. Up goes fuel costs.
Since the petroleum market is driven by speculators and futures, shutting down the XL pipeline sure as hell was a contributing factor, as well as cancelling drilling contracts on federal land, killing fracking, and killing coal putting more demand on oil and natural gas.
So. According to my reckoning this is just like giving a guy who makes $2000 a month a one time $150 to help him out with his bills for the year. And like the guy you gave the $150 to give him a hand it will have zero impact on the guys overall economic picture.
But what it does make happen is we're going to be really screwed if there's some kind of emergency this winter where some state is out of oil due to freezing weather or natural disaster and we're not going to have enough oil to keep people from freezing to death.
I harken back to the days of yesteryear when gas was under $2 a gallon and the US was the world's largest exporter of oil. Oh, the good old days. Wait, that was a mere months ago.
Prices sure as hell won't be coming down as long as Bribe-em is pretending to be president. That release from the strategic reserve is about 3 days worth; a blip on the radar screen at best.
Everyone's in favour of free enterprise, especially when what they get paid increases, until what they pay goes up. Then the weak sisters start screaming "Profiteer".
Anyway, Bob is wrong. prices are up because demand is strong and supply is not. Supply is low because the USA and most of its states and cities make building refineries and pipelines very expensive, or simply prohibited, with insane regulations.
The Keystone XL cancellation was just one of thousands of oil and gas projects ruined by government action.
The numbnuts lefties are going after fracking next so get used to having a cold house. And be quiet about "profiteering" when natural gas prices spike, because the many American voters who vote leftish are out of control and crazy.
The shit is hitting the fan on low speed right now, have a feeling it will be increased to medium speed after Xmas and ludicrous speed next year sometime. Heating bills have tripled in one month in some places already. The trucker shortage is going to get a lot worse when the vaccine mandates kick in. The commies are in control of our country, the damage is done and a lot of it is irreversible.
Wait until we're all required to use electric vehicles with a country out of juice because 'generating electricity is bad for the planet'. Gonna be fun.
The current grid structure, which no one is pushing to have upgraded, will not handle many more EV's than we already have, especially califruitopia. Imagine half of the current CA 27.7M registered vehicles jacking in after driving home from work when there's already a brown out due to a heat wave. BBZZZZTTPTUI down goes the grid.
Basically, the SPR is oil that we, the taxpayers, have ALREADY paid for. Now Full Diaper Joe is releasing it to the oil companies to refine, so we can pay for it again. What a guy!
Gotta admit, I came up with a good business model for the government, though. Kinda sucks for you peasants, but I want you impoverished and dead anyway. - General Secretary Zhao Bai Den
Why did gas prices almost double? Keystone pipeline work shut down? Not imo, it wasn't operating yet. My best guess is profiteering by the oil/gas companies and the government since gas tax is a % of the total.
ReplyDeleteNope. It's speculation. This administration has shut down any type of future domestic gas production projects, so the market reflects the fact that we'll be once again reliant upon the camel jockeys for our fuel. The markets don't like that. Up goes fuel costs.
DeletePS - SPR release of 50 mil barrels? Nope, that'll last a day. And draining the entire 727 mil barrels will last all of 35 days.
ReplyDeleteAnd remember, that's our "Goin' to war" oil.
Delete"And remember, that's our "Goin' to war" oil."
DeleteWell, yeah, but the only war we likely face is with China, and we kinda really want to lose to them. *swoon*
- The Government
Since the petroleum market is driven by speculators and futures, shutting down the XL pipeline sure as hell was a contributing factor, as well as cancelling drilling contracts on federal land, killing fracking, and killing coal putting more demand on oil and natural gas.
ReplyDeleteSo. According to my reckoning this is just like giving a guy who makes $2000 a month a one time $150 to help him out with his bills for the year. And like the guy you gave the $150 to give him a hand it will have zero impact on the guys overall economic picture.
ReplyDeleteBut what it does make happen is we're going to be really screwed if there's some kind of emergency this winter where some state is out of oil due to freezing weather or natural disaster and we're not going to have enough oil to keep people from freezing to death.
I harken back to the days of yesteryear when gas was under $2 a gallon and the US was the world's largest exporter of oil. Oh, the good old days. Wait, that was a mere months ago.
Now it goes down...
ReplyDeleteJust got both bulk tanks (gas/diesel) topped off yesterday.
~150 gallons each.
Well, better to have it.
WiscoDave
Prices sure as hell won't be coming down as long as Bribe-em is pretending to be president. That release from the strategic reserve is about 3 days worth; a blip on the radar screen at best.
DeleteWhat's wrong with "profiteering"?
ReplyDeleteEveryone's in favour of free enterprise, especially when what they get paid increases, until what they pay goes up. Then the weak sisters start screaming "Profiteer".
Anyway, Bob is wrong. prices are up because demand is strong and supply is not. Supply is low because the USA and most of its states and cities make building refineries and pipelines very expensive, or simply prohibited, with insane regulations.
The Keystone XL cancellation was just one of thousands of oil and gas projects ruined by government action.
The numbnuts lefties are going after fracking next so get used to having a cold house. And be quiet about "profiteering" when natural gas prices spike, because the many American voters who vote leftish are out of control and crazy.
I hate that Patrick De Haan!
ReplyDeleteThe shit is hitting the fan on low speed right now, have a feeling it will be increased to medium speed after Xmas and ludicrous speed next year sometime. Heating bills have tripled in one month in some places already. The trucker shortage is going to get a lot worse when the vaccine mandates kick in. The commies are in control of our country, the damage is done and a lot of it is irreversible.
ReplyDelete"Prices are going down"
ReplyDeleteJhiao Bribem: "Hold my pudding cup!"
Wait until we're all required to use electric vehicles with a country out of juice because 'generating electricity is bad for the planet'.
ReplyDeleteGonna be fun.
The current grid structure, which no one is pushing to have upgraded, will not handle many more EV's than we already have, especially califruitopia. Imagine half of the current CA 27.7M registered vehicles jacking in after driving home from work when there's already a brown out due to a heat wave. BBZZZZTTPTUI down goes the grid.
DeleteNemo
Basically, the SPR is oil that we, the taxpayers, have ALREADY paid for. Now Full Diaper Joe is releasing it to the oil companies to refine, so we can pay for it again. What a guy!
ReplyDeleteGotta admit, I came up with a good business model for the government, though. Kinda sucks for you peasants, but I want you impoverished and dead anyway.
Delete- General Secretary Zhao Bai Den