Gas Prices Skyrocket under Biden

TigerPaw

Well-known member
I'm caught in the middle of both sides on this issue. I believe strongly in the protection and limited use of fossil fuels to preserve them for generations to come, but I also am a realist and do not like nations who are willing to pump and supply oil to get rich off of our not pumping. The fuel is still being burnt because we are addicted to energy for our daily lives.
Thru the Trump adm., the amount of electricity generated by renewables increased to 17%, nuclear 20%. Fossil fuels declined to 63%. Obviously that trend will continue. Which will conserve our finite supply, and the competition will prevent the huge spikes (and conflicts) that we've all experienced for decades. So what is your real worry? Being on the wrong side of the climate science issue, that becomes clearer & clearer to more Americans every year?
 

Orin Swift

Well-known member
You could be correct that it was the shutdown that took us from where we are now to below the $2 mark, but more accurately it is supply greater than demand.
And why do you think supply was greater than demand? Could it be the shutdown where people traveled less?
 

OldSoulon

Well-known member
Comparable Tesla for a Honda Civic would be be the Model 3 which is $37k.
Looking at TCO, it's about 2 grand to wire my home for juice to charge the Tesla, plus pay to charge it elsewhere, plus
a new battery is about 3 grand, right?
:LOL:
Plus I am too tall for either car....
 

Orin Swift

Well-known member
Looking at TCO, it's about 2 grand to wire my home for juice to charge the Tesla, plus pay to charge it elsewhere, plus
a new battery is about 3 grand, right?
I have no idea. But the cost of the car is $37k, nowhere new iew's $80k for a Civic's comp.

Plus I am too tall for either car....
I doubt it. Doing a quick 15 second Google search will yield videos of people ranging from 6'4" to 7'2" sitting comfortably in the Model 3.
 

OldSoulon

Well-known member
I have no idea. But the cost of the car is $37k, nowhere new iew's $80k for a Civic's comp.



I doubt it. Doing a quick 15 second Google search will yield videos of people ranging from 6'4" to 7'2" sitting comfortably in the Model 3.
Oh, I'm sure I can SIT in it.

Being comfortable on anything more than a 20 mile drive is usually another story.
 

SC10EHS15

Well-known member
Take a look at US EIA (Energy Information Administration) and their listing of weekly gas prices. You could be correct that it was the shutdown that took us from where we are now to below the $2 mark, but more accurately it is supply greater than demand.

Now what has happened since Biden took over? Are we suddenly all back to travelling and burning up the roads eating into fuel reserves? No. We have shut down many supply side sources and the price of fuel is responding to the new equilibrium.

I'm caught in the middle of both sides on this issue. I believe strongly in the protection and limited use of fossil fuels to preserve them for generations to come, but I also am a realist and do not like nations who are willing to pump and supply oil to get rich off of our not pumping. The fuel is still being burnt because we are addicted to energy for our daily lives.

My dad grew up in rural Virginia in the 1930-45 era. No electricity, no plumbing, no combustion engines. Furthest he traveled in first 14 years of life was 5 miles into town. If we all lived like that gas would be $.10 /gallon.
I literally posted their website earlier and it was the start of this conversation...and I feel confident that I'm correct about the prices dipping under $2. Look at the timeline of that dip; March 30th to June 1st, aka, the height of shutdowns.

Anyways, you'd have to have your head in the sand to think that people aren't and haven't been out and about even more since at least the holidays and gas prices have responded to that. Pandemic fatigue is very real and people are doing what they want more now. Plus, with the vaccine and places like bars being more open, the increase makes sense. And those supply sources were shut down because of the bad winter weather; I don't believe any administration has control over the weather.
 

2manyBats

Well-known member
I literally posted their website

Pandemic fatigue is very real and people are doing what they want more now. Plus, with the vaccine and places like bars being more open, the increase makes sense. And those supply sources were shut down because of the bad winter weather; I don't believe any administration has control over the weather.
Correct - but Shutting Down the XL pipeline will hurt
  • When gas prices rise, it can be a drag on the economy—impacting everything from consumer spending to the price of airline tickets to hiring practices.
  • Gas is an important input for transportation, which directly impacts households as they drive, but also businesses that rely on logistics and transportation chains around the globe.
  • If discretionary spending is hampered by higher gasoline costs, it can have knock-on effects throughout the broader economy.
 

D4fan

Well-known member
And why do you think supply was greater than demand? Could it be the shutdown where people traveled less?
It could be, sure. It could also be other factors. It does not matter what the factors are , when supply gets tighter price goes up.

It's kind of like one year when I list my butt trading bean futures. We had a small crop in the US and all signs pointed to higher prices going forward. Then Brazil planted about 20 million more acres than typical as they thought the same thing. Market looked at stocks on hand and anticipated ending stocks to rise and prices went down $2/bushel instead of up. It does not matter the why as much as the factual supply vs demand.
 

D4fan

Well-known member
Thank goodness I'm not as poor as most Trump supporters. A few pennies more a gallon makes no difference.
If you purchase your fuel off the truck delivered to your business to supply a large fleet of trucks you may think differently. Just on one tractor trailer hauling grain yesterday we went through 112 gallons of fuel @ $2.65 /gallon purchased at truck stop. Today that same place is at $2.99 . You may call that pennies on a gallon, quite literally it is 34 pennies on the gallon, but that adds up to $38.08 additional for just one day. The driver still gets his pay, the contract still is billed at the same agreed to rate from last month, so the $38.08 comes out of the Trump supporters pocket. A fleet of 10 trucks gets pretty expensive over a few pennies on the gallon.

Not many years back during the Obama administration we went to fuel surcharges based on the first $3.50 / gallon the trucking company ate, after that the client paid the difference as an add on to the bill. We just got out of that game, looks like we may have to go to that model again.
 

D4fan

Well-known member
It's not could be, it was due to the fact that road traffic had dropped significantly. I'm not sure why this is hard for you to grasp.



No one is arguing that but thanks, captain obvious.
Your the one having difficulty grasping the danger of trying to tie increases of price into one single cause.

It is a cause, but where it rates on the scope of all causes, I dont believe you have enough facts to say with certainty.

Just a hunch here but guessing you don't have much commodity trading or hedging experience? When following factors that influence futures it is not very wise to place all causation on one factor.

As an aside, many oil companies anticipated the lack of demand for oil and stopped exploration and decreased pumping at the well head. You cant "cap" them off without damaging future supply , but the market reacted quickly to the shutdown. That's why I believe there is more to the cheap fuel story. Namely, unprecedented exploration and pumping.
 

psycho_dad

Well-known member
Sad , the information is out there. Go seek and you shall find. Don't be part of the flock
.

"the energy providers were also struggling with the elements. The cold weather froze natural gas wells and blocked pipes. It froze wind turbines and coal piles.
Contrary to what some state politicians have said, the blackouts weren’t primarily the fault of frozen wind turbines. It was largely a problem with natural gas, which is the state’s primary energy source."

Hope this helps. You, my friend are part of the Flock.
 

Orin Swift

Well-known member
Your the one having difficulty grasping the danger of trying to tie increases of price into one single cause.

It is a cause, but where it rates on the scope of all causes, I dont believe you have enough facts to say with certainty.

Just a hunch here but guessing you don't have much commodity trading or hedging experience? When following factors that influence futures it is not very wise to place all causation on one factor.

As an aside, many oil companies anticipated the lack of demand for oil and stopped exploration and decreased pumping at the well head. You cant "cap" them off without damaging future supply , but the market reacted quickly to the shutdown. That's why I believe there is more to the cheap fuel story. Namely, unprecedented exploration and pumping.
You're right, the price drops coincide with a time where personal travel dipped nearly 50% and commercial travel dipped another 15% but we don't have enough facts to say that was the leading cause for the greater supply vs. demand. Good call.

Your the one having difficulty grasping the danger of trying to tie increases of price into one single cause.
What danger? This is an internet message board, there's no danger trying to tie decreases (not increases??? It seems you don't know what you're even arguing) of price to a single cause.
 
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D4fan

Well-known member
You're right, the price drops coincide with a time where personal travel dipped nearly 50% and commercial travel dipped another 15% but we don't have enough facts to say that was the leading cause for the greater supply vs. demand. Good call.



What danger? This is an internet message board, there's no danger trying to tie decreases (not increases??? It seems you don't know what you're even arguing) of price to a single cause.
Your way too smart for me, guess I will wait for the next dumb conversation to pop up so I can feel comfortable with the discussion.
 

Fatman

Well-known member
Just paid Club Price $ 2.44 - Sucks
Just paid $2.79 at UDF

A lot of crap goes into determining the price/gallon. Crude being darn near 60%. Rather glad the price at the pump hasnt mirrored the cost of crude over the past 4 months. --- I still hate paying $2.79!!!!!
 

I enjoy wrestling

Well-known member
.

"the energy providers were also struggling with the elements. The cold weather froze natural gas wells and blocked pipes. It froze wind turbines and coal piles.
Contrary to what some state politicians have said, the blackouts weren’t primarily the fault of frozen wind turbines. It was largely a problem with natural gas, which is the state’s primary energy source."

Hope this helps. You, my friend are part of the Flock.
I tried to give you an out. Start with the power grid and actions that took place. Baaa baaaa
 
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