Thanks Keystone Cops

[paindonthurt_]

Yes and the US supply is headed down.

There might be a few reasons for the supply of oil being down or going down in the US but there is one main reason. The main reason is a political one.

 

[DesotoCountyDawg]

View attachment 19529

Where was the gnashing of teeth in 2019 when prices rocketed up after a dip? And for comparison sake here is the price of Brent Crude

View attachment 19530

Amazing isn’t it? How they almost mirror each other? You can get pissed off about energy policy (I’m not a fan of Biden’s plans either) but supply and demand drive prices in these markets and with OPEC not planning on increasing production it’s going to bring prices up.

 

[thatsbaseball]

Don't worry. Gas prices only effect those making over $400K per year. Oh wait. **

 

[ronpolk]

View attachment 19529

Where was the gnashing of teeth in 2019 when prices rocketed up after a dip? And for comparison sake here is the price of Brent Crude

View attachment 19530

Amazing isn’t it? How they almost mirror each other? You can get pissed off about energy policy (I’m not a fan of Biden’s plans either) but supply and demand drive prices in these markets and with OPEC not planning on increasing production it’s going to bring prices up.

My prediction is you’ll get lots of downvotes on this but not an intelligent reply.

So far in this thread I’ve seen people blame a non finished pipeline for causing current gas prices to increase and also someone say that nixing the pipeline will increase our dependence on foreign oil (yeah, the pipeline carrying Canadian oil).

 

[oxfordrebel22]

But also gas will follow crude prices. Crude has gone up considerably in the last few months for multiple reasons, mostly from OPEC slashing production since the pandemic hit and never really ramping back up and the expectation that things are about to get rolling again around the world with Covid waning. Throw in some stimulus spending cash and people will start spending more on driving and shipment of purchased goods.

Simple supply and demand

So you mean to tell me a company that produces right at 20% of our oil drastically altering operations which effects supply which in turn effects demand, would drive the price up? And it’s not a president who I don’t like and am desperate to blame’s fault? That’s pretty out there man

 

[DesotoCountyDawg]

So you mean to tell me a company that produces right at 20% of our oil drastically altering operations which effects supply which in turn effects demand, would drive the price up? And it’s not a president who I don’t like and am desperate to blame’s fault? That’s pretty out there man

View attachment 19531

 

[the dog is on the loose]

Judging by all the comments I didn’t know we had so many people on here that work in the oil industry. Seems that way with all the “knowledge” on here. I don’t need to “expert” analysis to tell me that when I filled my truck up the last three or four years that it was cheaper than it is now. I drive 80 miles round trip every day so I fill up quite often.

 

[was21]

POTUS nor his policies have anything to do with the price of gasoline at the pump...it's determined by myriad causes worldwide.

 

[BoDawg.sixpack]

A sweet spot for the economy is WTI prices between 50-80 bucks

The recent price increase is still palatable for the economy because it's affordable at the pump and it's profitable to drill and refine. After it starts creeping over 80 is when you start getting some issues with companies and individuals thinking about budgeting their operations. That being said I was definitely for the Keystone pipeline simply because as a matter of national security it's a good rule of thumb to have as much energy traversing your sovereign borders as possible. Energy is where the economy starts and stops.

 

[BoDawg.sixpack]

Wait until you see what we have to say about coronavirus immunity.

 

[BoDawg.sixpack]

Those worldwide causes can be mitigated by domestic energy production. The more you're dependent on foreign oil the more OPEC decisions are likely to affect the price at your gas pumps.

 

[DesotoCountyDawg]

View attachment 19532

It probably wasn’t cheaper by much (pre pandemic) or was more expensive.

 

[BoDawg.sixpack]

Now, show a chart with OPEC cuts integrated into the price timeline.

 

[SheltonChoked]

Yes and the US supply is headed down.

There might be a few reasons for the supply of oil being down or going down in the US but there is one main reason. The main reason is a political one.

If you want US production to be higher, you have to pay more at the pump.

Oilfield workers don't do it for free.

 

[DesotoCountyDawg]

Domestic oil production will increase because the oil market price increase will make it profitable. When oil tanked I know several people who were out of a job because their companies cut back on production.

 

[BoDawg.sixpack]

That's why I posted the sweet spot for drillers and refineries and the economy is 50-80 bucks for WTI.

 

[SheltonChoked]

So I'm curious. Do we want gas prices low and have 100,000 high paying oil/gas industry permanent jobs lost like we did in 2020 when WTI hit $35 and gas was $1.75? Or do we want to cut a pipeline FROM CANADA, that brings Canadian oil to the US and supported a few thousand temporary jobs building a pipeline, but dilute the value of US oil. Let oil get back to $100 per barrel and those 100,000 jobs will all come back.

I want Canadian oil like folks in Mississippi want Vietnamese catfish. I need to get them royalties flowing again and you 17ers want some moose17ers to ship cheap oil to Texas refineries. ****, gas prices ain't hurting you Fishwatering, Bitcoining, Ganestoping, Diamond Handing mfers.... Take all that stimmy and put it into your gas budget. We have 10-15 years of gas left, I need $100 oil baby.... Or do I want cheap gas.

I can't figure it out. Do I want cheap gas so Paw-Paw can save $300 a year on fuel for his shuffleboard commute or expensive gas so he can get $750 in extra XOM dividends and we can pay hundreds if thousands of people to come back to the oil fields

17 it. I'm buying a Tesla....





You 17ing political idiots can't see that you are making the same argument in a different way as the other idiots you despise. Cheap gas cuts jobs. Expensive gas cuts a lot less jobs.

I say we just 17 the Canadians and do it all ourselves. A shitload more Americans will have good paying jobs if the Canadians keep there oil in the ground or try to ship it around the continent on boats or over rail.

Hallelujah holy ****. Let's talk bourbon or baseball.

Someone gets it.

Also, for all of you bitching about renewable energy, GE makes the wind turbines here( in Pensacola), the jobs to install, maintain, and operate wind are here (Canada, Mexico, Saudi Arabia, Russia, and Colombia).

 

[SheltonChoked]

And it's not even cutting a pipeline. It's not building a larger pipeline. There already is a Keystone pipeline. The Keystone pipeline has been OPERATING since 2010. And has been connected all the way from Hardisty, AB to Houston/Beaumont since 2017. With the most important part of the pipeline (the Cushing to Houston link) being finished in 2014.

And the value of the keystone XL PL diminished about 8 years ago when fracking took over. That tar sand stuff is expensive. And It's a lot farther from Houston than the shale in the permian.

 

[ronpolk]

Those worldwide causes can be mitigated by domestic energy production. The more you're dependent on foreign oil the more OPEC decisions are likely to affect the price at your gas pumps.

That’s just not true. It wouldn’t matter if the US only consumed domestically sourced oil, the price of oil is going to be determined by worldwide supply. And given that OPEC dominated the worldwide supply, they dictate price.

A US oil company can’t operate in vacuum and charge whatever they want for oil. Now I agree with your earlier post that their are benefits to not being so reliant on foreign oil. But there is a steeper break even price here due to the fact that American workers aren’t cheap and that’s a good thing.

 

[SheltonChoked]

View attachment 19529

Where was the gnashing of teeth in 2019 when prices rocketed up after a dip? And for comparison sake here is the price of Brent Crude

View attachment 19530

Amazing isn’t it? How they almost mirror each other? You can get pissed off about energy policy (I’m not a fan of Biden’s plans either) but supply and demand drive prices in these markets and with OPEC not planning on increasing production it’s going to bring prices up.

To those complaining, in 2019 the high gas prices created american jobs.

To them now, all that money is going to OPEC.

If Trump had won again, this spike would be creating american jobs.

And again to keep hammering on a point, you cannot offshore Nuclear, Wind, or Solar. All those jobs, are jobs for people living in the USA.

 

[BoDawg.sixpack]

But you can avoid the larger ebbs and flows in the price. AKA price shocks.

 

[SheltonChoked]

View attachment 19532

It probably wasn’t cheaper by much (pre pandemic) or was more expensive.

Why do you keep dragging facts into this.

He has to pay a biden tax to the guy standing beside the pump. That guy charges him more than he did for the trump tax the last 4 years.

 

[thatsbaseball]

I'd be curious to know what gas prices would be if we decided to use only domestically produced oil. Just my SWAG but around $3/gal ($60/barrel oil) ? Unless it's gotten a lot more economical fracking use to be a very expensive method (relative to middle eastern production) of producing crude . AGAIN I'm guessing and I'm sure some of you know more about it than me.

 

[mstateglfr]

Judging by all the comments I didn’t know we had so many people on here that work in the oil industry. Seems that way with all the “knowledge” on here. I don’t need to “expert” analysis to tell me that when I filled my truck up the last three or four years that it was cheaper than it is now. I drive 80 miles round trip every day so I fill up quite often.

US gas at the pump averaged 2.30/gallon when Biden took office. Its currently at 2.58/gallon.

The current average is the same as it was when Trump took office. The average price during Trump's first 20 months was higher than it is right now. It then took a dive for a few months and shot right back up to the high point average within 5 months. The average price then steadily declined for the next 12 months down to what the average price was when Trump took office(and what it is now).
Covid then happened and the price dropped below what it was at the start of Trump and below where it is now.


So to recap- the average price of gas at the pump was the same at the start of Trump as what it is right now(a month into Biden).
In total, the average price at the pump under Trump was less less than it is now for about 10 months.
10 out of 48 months, under Trump it was lower than it is now. 20% of the time, it was lower than it is now.



Maybe in your specific area average gas prices were cheaper than the US average to such a degree that the trends can be ignored.
Or maybe you misremember reality.

Either way, actual numbers show average US gas price at the pump to not align with your memory.

 

[Jacknut1]

POTUS nor his policies have anything to do with the price of gasoline at the pump...it's determined by myriad causes worldwide.

Yep, Biden will screw up plenty of things while he sleeps through his four years (if he lives that long), but this ain't one of them.

 

[Maroon Eagle]

Yep.

People who want increased US production and exploration - which I do and not just because I signed an extension on an lease a year and a half ago - should be aware that they have to pay higher prices at gas pumps.

 

[SheltonChoked]

I'd be curious to know what gas prices would be if we decided to use only domestically produced oil. Just my SWAG but around $3/gal ($60/barrel oil) ? Unless it's gotten a lot more economical fracking use to be a very expensive method (relative to middle eastern production) of producing crude . AGAIN I'm guessing and I'm sure some of you know more about it than me.

You are off by about 3 orders of magnitude.

US domestic production (which is still transportation limited ) maxed at 12,870,000 barrels a day for one month.
US DEMAND is 20,540,000 barrels per day.

So everyone would have to drive/ use 7,700,000 less oil produced goods every day. For reference, total us motor gasoline demand is 9,900,000 barrels per day.
That's 40% less available. Us in texas can tell you what deducting 40% of power does to the system. But then most of the Gasoline would be prioritised to basic services and goods transport. So it would be more like an 80% cut needed for personal transportation. Which means 100% for all but the select few.


We don't have the pipelines to get that much to market, even if we could produce that much. And with that kind of cut, we couldn't afford to move oil by truck or train.


Cites:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=M
https://www.eia.gov/outlooks/steo/report/us_oil.php

 

[DAWG61]

If staying off twitter and out of the daily "news" cycle means sleeping through four years I'm all for it.

 

[mstateglfr]

This thread perfectly encapsulates the majority of SPS OT/political threads.

Ignorant/uninformed claim is put forth, a few agree, then the stupid **** that was initially claimed is picked apart over and over.

 

[paindonthurt_]

It’s way easier to get milk from its source to the consumer than it is to get gas from its source to the consumer.

Once again. You are a moron.

 

[Drebin]

This thread perfectly encapsulates the majority of SPS OT/political threads.

Ignorant/uninformed claim is put forth, a few agree, then the stupid **** that was initially claimed is picked apart over and over.

These threads don't usually go to hell until you or dorn, Quoars, or 61 start posting in them.

 

[oxfordrebel22]

Judging by all the comments I didn’t know we had so many people on here that work in the oil industry. Seems that way with all the “knowledge” on here. I don’t need to “expert” analysis to tell me that when I filled my truck up the last three or four years that it was cheaper than it is now. I drive 80 miles round trip every day so I fill up quite often.

Pretty wild that gas prices haven’t changed for you any in the last 3 or 4 years. I wish I had that luck.

 

[mstateglfr]

These threads don't usually go to hell until you or dorn, Quoars, or 61 start posting in them.

So when totally absurd claims like 'covid tracking was pulled off the main page of major news sites back in November' are made, that isnt when the threads go to hell?

Also, I didnt say this thread went to hell. Quite the opposite, really. It started out ****** and was corrected.

 

[Drebin]

So when totally absurd claims like 'covid tracking was pulled off the main page of major news sites back in November' are made, that isnt when the threads go to hell?

Also, I didnt say this thread went to hell. Quite the opposite, really. It started out ****** and was corrected.

Only morons with agendas like yourself and your posse here take factual statements and call them "totally absurd claims."

 

[mstateglfr]

Only morons with agendas like yourself and your posse here take factual statements and call them "totally absurd claims."

I pasted screenshots of the NYT and CNN showing covid counters and multiple articles on the front center of each site's main page.
Yes, that claim was absurd.

 

[mstateglfr]

It’s way easier to get milk from its source to the consumer than it is to get gas from its source to the consumer.

Once again. You are a moron.

I didn't claim its more difficult, I just said that there are more steps to get milk to the consumer than what was listed.

 

[bulldogcountry1]

I’ve always been baffled how you can buy gas for less than $5 a gallon, considering it’s something that has to be pulled from the earth. And that’s just the beginning.

Same with bananas. It takes those things 9+ months before they can be harvested, and then they have to be shipped on a boat. Somehow, you can still get one for about 35 cents.

 

[TrueMaroonGrind]

on foreign oil is criminal, and just stupid.

Why don't you sack up and go fight the idiots in the Middle East.

Are you advocating for isolationism? We are way past that possibility. Our economy is global and there is no going back. Diversification and some self dependence is the best we can do to make the economy work the way it does today. Diversification also means becoming less dependent on fossil fuels. Alternative energy will achieve better independence as the technology advances and becomes economical.

 

[Hump4Hoops]

I'm amazed how many people ran with the ******** "sleepy Joe" story.

Trump's brain has been mashed potatoes for at least his entire time in office, and his daily routine was watching Fox News, Twitter rants on the toilet, yelling at his "advisors," sucking Vlad's dinger, and golf. But *now* republicans are concerned about the president's cognitive ability?

I'm not a huge fan of Biden either (and don't like the fact that all of our options for president have been old as dirt), but hell, we have a functioning adult in the White House and that's worth something.

Joe is old and stutters. Ain't a great speaker. But the dementia talk was pure projection.

 

[thatsbaseball]

I convinced the guy(?) is a 100% troll.