Gas Prices Rising Again

Thanks for the reminder that the biden regime has doubled gas prices ....................the 2-year assault on the middle class rages.
 
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ProV1 said:
Gas was not 1.50 a gallon 2019. Your are lying. Gas averaged $2.60 a gallon and was never lower than $2.25 with a peek of $2.95.
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Yes, I remember paying under $3.00 a gallon for Premium back in 2019. So no gas wasn't a $1.50 for premium . lol
 
wghfan said:
Yes, I remember paying under $3.00 a gallon for Premium back in 2019. So no gas wasn't a $1.50 for premium . lol
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So you are paying $5 a gallon for Premium today? You are going to the wrong place for gas. It’s also hard to reconcile that you could not afford to leave your money in the market with an 11% return over the last 30 months and moved to fixed income but drive a car that needs premium.
 
ProV1 said:
So you are paying $5 a gallon for Premium today? You are going to the wrong place for gas. It’s also hard to reconcile that you could not afford to leave your money in the market with an 11% return over the last 30 months and moved to fixed income but drive a car that needs premium.
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I'm not paying quite $5 a gallon for premium. I will say it again, why are you so concerned with my business? What I do with my money is my business, and not yours. You are starting the get a little creepy. Bug off, you're really getting annoying.
 
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ProV1 said:
It’s none of the BS you just posted. Oil companies are still getting permits. They are currently drilling on Federal land. In fact, the US is producing more oil every day today than we were when Biden took office. Those are the facts.

Gas is where it is today, because we had the biggest production cuts in the history of this country in 2020. Refineries were taken off line and people were laid off. Prices dropped accordingly. To make matters worse, Trump then threatened the Saudis with pulling military support unless they cut production too. Trump wanted to raise prices and he needed Saudi cooperation to do it.

You are clueless.
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The oil being produced today is from permits issued by the Trump administration. Thanks Don.

Biden had to back off his war on oil because the resultant high prices were killing him politically. (Environmental concerns come second to political realities)
 
ProV1 said:
Can't wait to see what the new GOP led House will do to curb inflation. After voting for every outrageous spending bill leading to record deficits under Trump, I'm sure they will only return to the party of NO.
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Remind us again who was in charge of those outrageous spending bills?
 
ProV1 said:
Don't know about the sanctions. Please post when you have actual facts. I think he is trying to do what he can to replace and lost global supply. Other leaders are doing the same thing. Gas is high in the US but it is much higher around the world.
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...where they've been at war with fossil fuels even longer...
 
ProV1 said:
No ... They are not going to expand unless they know that there will be global demand to buy the additional production. Do you think they want to spend 50B to shut it all down like 2020. They are running a business. Duh.
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Exactly. Why would they invest when the government keeps threatening to shut them down. "End oil now!"
 
ProV1 said:
I am fully aware of the oil lease propaganda. I also know that there were a total of 4,859 oil and gas drilling permits approved on federal lands in the US in 2021, an increase of 14.98% or 633 from 2020. That information comes from the Department of Interior. Leases have slowed in 2022 as the administration reviewed the process and current inventory but the Interior is preparing to make up to 84 million acres available by 2023.

This is not an issue of having available places to drill. This is an issue of making sure investments that take 5-7 years to operationalize, will be able to return. The biggest decline in production in the country's history in 2020 is fresh on the industries mind.
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So a fluke unprecedented one off shutdown...or government policy to end the industry. Wonder which affects investment more 🤔

I wonder what was happening in 2020 that might have stunted lease applications.

Thanks for admitting that it's 5-7 years from permit to production...meaning the current production is from actions taken by the Trump administration. Thanks Don.
 
ProV1 said:
Oil companies do not increase or decrease production based on who is president. They must take a much longer view than that. This is why they did not immediately start building more rigs and refineries in 2021 after Joe approved 633 new leases which was a 15% jump over 2020.
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The long view is the left has declared war on their industry. When they are in power setting policy of course that affects investment.
 
psycho_dad said:
"In the past 10 years, domestic oil has cost more. You have to go back to November 2012 to find a month when the cost of a barrel of domestic oil was less than a barrel of imported oil. In April, the most recent month for which we have numbers, a barrel of domestic oil cost $7.13 more than a barrel of imported oil. Since February 2021 — the month when the price returned to its pre-pandemic level — domestic oil has cost an average of $4.06 more per barrel."

U.S. Refiner Acquisition Cost of Crude Oil

www.eia.gov

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4 bucks more a barrel to not enrich and be at the mercy of foreign governments...sounds like a deal.
 
Oil is on the way down or stay steady, even if the Saudi's cut production. Russia is going to produce as much oil as possible and the US is set to produce a record amount of oil this year. More EV's are being built worldwide. Nat Gas is the future.
 
wghfan said:
Yes, I remember paying under $3.00 a gallon for Premium back in 2019. So no gas wasn't a $1.50 for premium . lol
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I remember gas wars and 25 cents a gallon. Sheet happens in the free market.
 
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