Gas Prices

[9jNYstarkOH]

4 hours ago, BowmanMike said:

This is a result of the pandemic. Germany has the exact same trends in inflation and gas prices. Is that also Bidens fault?

What currency is Germany paying for fuel in? Most likely US dollars which are inflated.

[Grouse]

Personal savings since Biden took over.

 

[BowmanMike]

16 hours ago, Northcountryman said:

Germany doesnt have the benefit or option of utilizing its own oil reserves cuz it has none- we do!!  Thats why this mess is absolutely , unequivocally Biden's fault !!

So you think the oil companies would sell the gas cheaper here even if they could get more on the European market? 

[BowmanMike]

13 hours ago, mattypotpie8S said:

Germany Is firing up their old coal plants.. Don't tell Greta

Having to replace natural gas from Russia might have something to do with that. 

[ApexerER]

3 hours ago, BowmanMike said:

So you think the oil companies would sell the gas cheaper here even if they could get more on the European market? 

Would there be more oil on the market making more supply if we weren't over regulating, preventing drilling and fracking? 

The answer to that is yes, more supply, cheaper price......Pretty simple...

[BowmanMike]

42 minutes ago, ApexerER said:

Would there be more oil on the market making more supply if we weren't over regulating, preventing drilling and fracking? 

The answer to that is yes, more supply, cheaper price......Pretty simple...

Fracking is for natural gas...

But you have a point. I don't think policy has as much to do with the current situation as you think. 

I think it is more of a cause of having had a world wide implosion of gas demand of never seen proportions and the oil companies actually loosing money. A first. So it is not a big surprise that they were not super eager to increase output or develop new wells. All that stuff takes longer than a few months to really make an impact on world prices.

I would hazard a guess that prices will come down quite a bit in the next six months. Of course I could be completely wrong but I don't care too much about gas prices,it used to be too cheap imo. Incentive for exploring other options.

[Northcountryman]

4 hours ago, BowmanMike said:

So you think the oil companies would sell the gas cheaper here even if they could get more on the European market? 

I think that it would benefit all of us if our domestic oil production and market was restored to the robust level that we enjoyed under the Trump administration.  During that time, gas prices were 1/5 of what they are today and theres a reason for that!!

[BowmanMike]

2 minutes ago, Northcountryman said:

I think that it would benefit all of us if our domestic oil production and market was restored to the robust level that we enjoyed under the Trump administration.  During that time, gas prices were 1/5 of what they are today and theres a reason for that!!

See my post above. Policy had some to do with it. But it doesn't make or break oil companies.

[Northcountryman]

2 hours ago, BowmanMike said:

See my post above. Policy had some to do with it. But it doesn't make or break oil companies.

Oh, I didnt see that one; oh, ok, so youre saying the oil companies are losing $ right now? How do you know? 

[BowmanMike]

1 hour ago, Northcountryman said:

Oh, I didnt see that one; oh, ok, so youre saying the oil companies are losing $ right now? How do you know? 

No,they lost money during the pandemic. They are having record profits now. The pandemic was no.1 reason for cheap gas under Trump.  No demand,worldwide. His policies were much friendlier to all fossil fuels no doubt and that helped some too. But you can not compare prices when nobody was buying gas during lockdowns to the here and now when economies are booming and going flat out. I am saying that it takes a good while for the oil companies to increase output,it is not like turning on a faucet and voila the water is there.  This delay is part of the spike in prices. 

Every oil company would be happy to have more to sell I am sure especially at this price.

[Northcountryman]

2 hours ago, BowmanMike said:

The pandemic was no.1 reason for cheap gas under Trump.

Not entirely true cuz gas prices were great under his admin long before the pandemic hit.  I  do agree w you though that post pandemic, demand did skyrocket and has something (but not everything)to do with what were seeing currently w/ gas $- good point. 

[BizCT]

Biden’s top economic adviser said we need to endure pain at the gas pumps indefinitely in the name “Liberal World Order”


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[DirtTime]

4 hours ago, BizCT said:

Biden’s top economic adviser said we need to endure pain at the gas pumps indefinitely in the name “Liberal World Order”


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Isn't that how most prison movies start?

[fasteddie]

[Grouse]

This video explains how this administration is causing energy prices to rise, as well as how it affects many of your other life expenses.  The man is the Treasurer for West Virginia.

 

[9jNYstarkOH]

Selling reserve oil overseas, instead of dumping it on the u.s market to lower fuel prices. 
https://www.reuters.com/business/energy/oil-us-reserves-head-overseas-gasoline-prices-stay-high-2022-07-05/

[Chef]

Fracking is for natural gas...
But you have a point. I don't think policy has as much to do with the current situation as you think. 
I think it is more of a cause of having had a world wide implosion of gas demand of never seen proportions and the oil companies actually loosing money. A first. So it is not a big surprise that they were not super eager to increase output or develop new wells. All that stuff takes longer than a few months to really make an impact on world prices.
I would hazard a guess that prices will come down quite a bit in the next six months. Of course I could be completely wrong but I don't care too much about gas prices,it used to be too cheap imo. Incentive for exploring other options.

This aged very well as prices are dropping and will continue to drop


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[9jNYstarkOH]

2 hours ago, Chef said:

This aged very well as prices are dropping and will continue to drop


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Price of futures are down and consumer consumption is down due to recession fears.