Let’s revisit

[Topspinmo]

https://www.talkofthevillages.com/forums/current-events-news-541/gas-prices-315290/


Now, who’s willing to bet 6 plus bucks gallon by Labor Day!


IMO OIL COMPANIES don’t control prices stock market does..

Crude Oil Prices Today | Brent and WTI Price Charts (https://www.dailyfx.com/crude-oil)

[Keefelane66]

I'll say the 4th of July. Thanking myself I didn't invest in a Winnebago (sarcasm).

[coralway]

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

[Nucky]

I'll say the 4th of July. Thanking myself I didn't invest in a Winnebago (sarcasm).

:cry: :cry: Not crying for you, crying for me. Damn. At least it's Gas.

[Stu from NYC]

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

Do you expect a corporation to charge less than they can? Hate to see these prices but last year when pricing was down substantially did you offer to pay extra to tide them over?

[coralway]

Do you expect a corporation to charge less than they can? Hate to see these prices but last year when pricing was down substantially did you offer to pay extra to tide them over?




Last year? SEC filings from the largest oil and gas companies show they’ve collectively completed $45.6 billion worth of buybacks since the start of 2021.

So, if you're ok with oil and gas companies dramatically increasing their prices so they can buy back their stock, and make their investors happy, then no one has any reason to complain about current prices.

[Papa_lecki]

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

Chevron had sales of $62 billion, profit margin was 11%.

[Stu from NYC]

Last year? SEC filings from the largest oil and gas companies show they’ve collectively completed $45.6 billion worth of buybacks since the start of 2021.

So, if you're ok with oil and gas companies dramatically increasing their prices so they can buy back their stock, and make their investors happy, then no one has any reason to complain about current prices.

Management decided that the future of oil was not great and it was best to return excess cash to their investors. They saw that govt was going to push the automakers into electric vehicles greatly reducing the demand for oil.

The investors can than take the money and invest in other things that help grow the economy. Do you think they take this cash and hide it under their mattresses?

Are you still saying this is a bad thing?

[Chi-Town]

Management decided that the future of oil was not great and it was best to return excess cash to their investors. They saw that govt was going to push the automakers into electric vehicles greatly reducing the demand for oil.

The investors can than take the money and invest in other things that help grow the economy. Do you think they take this cash and hide it under their mattresses?

Are you still saying this is a bad thing?

Make sense. Don't reinvest the profits into alternative sources of energy. Just let the demand run out and call it a day. Not a long term strategy but you gotta make hay while the sun shines.

[Eg_cruz]

Do you expect a corporation to charge less than they can? Hate to see these prices but last year when pricing was down substantially did you offer to pay extra to tide them over?
Tie them over from what……oil / gas companies …….don’t need any handouts. Did they have massive lay offs when me were paying undear $2 a gallon no……did they have to close their doors….no. Did they still make massive profits ….yes

[donassaid]

What an insensitive and out of touch response. So you are ok with paying 2 1/2 times more for gas than 18 months ago? Double what you paid for milk and other food products in the same time period? I guess you must be a rich liberal who can afford to pay $10/gal for gas if need be. Most of us are not in that boat.

[B-flat]

What an insensitive and out of touch response. So you are ok with paying 2 1/2 times more for gas than 18 months ago? Double what you paid for milk and other food products in the same time period? I guess you must be a rich liberal who can afford to pay $10/gal for gas if need be. Most of us are not in that boat.

Thank you! I agree!

[biker1]

These numbers, without context, are meaningless. To start with, what were the revenues?

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

[Two Bills]

Drove through UK, Belgium. Germany and France over the last week.
Fuel is costly everywhere, and higher priced, ( mainly Gov. Taxes) than USA.
You are not alone.
UK 5% methanol, £1.89 liter. =£8.69 ($10.86) Imp. Gallon.

Even worse, our pub has put the price of a pint up 15% to £3.95 a pint, that's £31. 60 ($39.50) a gallon!
Thinking of drinking 10% Ethanol gas in future to save a few quid!:icon_wink:

[Robbb]

Last year? SEC filings from the largest oil and gas companies show they’ve collectively completed $45.6 billion worth of buybacks since the start of 2021.

So, if you're ok with oil and gas companies dramatically increasing their prices so they can buy back their stock, and make their investors happy, then no one has any reason to complain about current prices.

Its called supply and demand. When the government restricts supply buy increasing regulations, canceling pipelines, discouraging investment, and delaying or canceling permits, supply drops and prices skyrocket. This is a completely self inflicted crisis. The answer, drill baby drill.

[Stu from NYC]

Its called supply and demand. When the government restricts supply buy increasing regulations, canceling pipelines, discouraging investment, and delaying or canceling permits, supply drops and prices skyrocket. This is a completely self inflicted crisis. The answer, drill baby drill.

Thank you for beating me to the answer.

[Bay Kid]

State and Feds make the most profit from taxes.

[Two Bills]

Its called supply and demand. When the government restricts supply buy increasing regulations, canceling pipelines, discouraging investment, and delaying or canceling permits, supply drops and prices skyrocket. This is a completely self inflicted crisis. The answer, drill baby drill.

And you honestly believe that US oil companies would sell the oil cheaper on US market, than the OPEC fixed world price?

[FredJacobs]

Its called supply and demand. When the government restricts supply buy increasing regulations, canceling pipelines, discouraging investment, and delaying or canceling permits, supply drops and prices skyrocket. This is a completely self inflicted crisis. The answer, drill baby drill.

Supply and Demand is the culprit behind the price increase. When you limit the supply, the demand stays the same and prices go up. Who sets these prices - it begins with the cost per barrel which fluctuates daily. In 2020 the average price per barrel was $39.68; in 2021 the average price was $68.17. The average for 5 months of 2022 is $99.56 and the price today is $120 per barrel - 200% more than 2020.

Why did the price per barrel go up? Because the supply was cut; the demand stayed the same and buyers of oil were willing to pay more to meet the demand.

Does this affect industries other than automotive? A little under ½ a barrel of oil is used for gas. The rest goes to the manufacture of plastics, fertilizer, cosmetics, detergents, solvents and pharmaceuticals.

I recall, in 2016, when Candidate Obama was interviewed about Climate Change, he stated that he would like to see gas prices go up to $7 or $8 per gallon to stimulate the growth of renewable energy. He trained his Vice-President well. I guess neither man considered the collateral damage of their decisions.

[Morgan65]

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

During pandemic oil companies lost billions due to shut downs and everyone working from home

[cherylncliff]

Management decided that the future of oil was not great and it was best to return excess cash to their investors. They saw that govt was going to push the automakers into electric vehicles greatly reducing the demand for oil.

The investors can than take the money and invest in other things that help grow the economy. Do you think they take this cash and hide it under their mattresses?

Are you still saying this is a bad thing?
Take from the poor and give to the rich then deny the poor a living wage.

[Stu from NYC]

What an insensitive and out of touch response. So you are ok with paying 2 1/2 times more for gas than 18 months ago? Double what you paid for milk and other food products in the same time period? I guess you must be a rich liberal who can afford to pay $10/gal for gas if need be. Most of us are not in that boat.

You did not quote me but apparently you are directing your response to me.

Just because I understand the forces behind the oil business and our economy does not mean that I am ok with this self induced inflation.

I am as unhappy as anyone else but understand the culprit behind this.

The inflation was caused by our govt and world economics.

The Fed took way to long to start to cool the economy by raising interest rates. The govt paid too much money to people not earning as much as others and people got used to being one parent breadwinner so labor force participation is way down and the resulting shortage of workers caused wages to increase substantially.

Further our govt in its infinite wisdom decided oil was bad and promoted electric vehicles and discouraged expanding oil production which was decreased during covid.

As a result of all this we are all paying more for the products we use every day.

[Marine1974]

I would say it’s a bad thing if your a
over the road truck driver trying to make a living .

[Keefelane66]

Oil Companies profited $174 billion in 2021
Exclusive: oil companies’ profits soared to $174bn this year as US gas prices rose | Oil and gas companies | The Guardian (https://amp.theguardian.com/business/2021/dec/06/oil-companies-profits-exxon-chevron-shell-exclusive)

[Wyseguy]

https://www.talkofthevillages.com/forums/current-events-news-541/gas-prices-315290/


Now, who’s willing to bet 6 plus bucks gallon by Labor Day!


IMO OIL COMPANIES don’t control prices stock market does..

Crude Oil Prices Today | Brent and WTI Price Charts (https://www.dailyfx.com/crude-oil)

At this point I'd be happy if it waited till Labor Day to hit $6.00. It is a very unfortunate situation. I handle finances for Associations (COA, HOA). Between insurance rates and gas/food prices, every week I have am owner, usually older, come in and advise me they have to sell as they can no longer afford the bills. Fortunately they will get a premium on their unit, however many have no place to go.

[Wyseguy]

State and Feds make the most profit from taxes.

I am not sure if the increase in the cost per gallon will result in more taxes for the State. I "believe" federal excise tax on fuel is a percentage. State tax is so much per gallon. Let's say a state adds ten cents per gallon as a tax for road repairs. An increase in the price of a gallon could very well result in lower tax revenue for the state, as people will drive less.

[MartinSE]

Do you expect a corporation to charge less than they can? Hate to see these prices but last year when pricing was down substantially did you offer to pay extra to tide them over?

Next time a hurricane comes through, you will be okay with $10/gallon for water?

I mean, they should be able to charge anything they want. And if your grandchild is allergic to bee stings, $1000 for a $15 shot is okay? Gouging is gouging and is generally considered immoral and illegal (in many cases - the shot producers had to pay a $600 Million fine)

[MartinSE]

I would say it’s a bad thing if your a
over the road truck driver trying to make a living .

OTR Drivers are screwed by the companies they work for and have been since Carter signed the canceling of laws to protect them.

[Stu from NYC]

Next time a hurricane comes through, you will be okay with $10/gallon for water?

I mean, they should be able to charge anything they want. And if your grandchild is allergic to bee stings, $1000 for a $15 shot is okay? Gouging is gouging and is generally considered immoral and illegal (in many cases - the shot producers had to pay a $600 Million fine)

Price gauging to me is a very short run thing.

Cost of pills and the shot for bee strings is part of our govt screwing up the medical system and allowing things like this to happen. No reason medicare cannot negotiate pricing of drugs.

[jimjamuser]

https://www.talkofthevillages.com/forums/current-events-news-541/gas-prices-315290/


Now, who’s willing to bet 6 plus bucks gallon by Labor Day!


IMO OIL COMPANIES don’t control prices stock market does..

Crude Oil Prices Today | Brent and WTI Price Charts (https://www.dailyfx.com/crude-oil)
The stock market does not CONTROL the prices of goods like oil. Products like oil have their prices controlled by supply and demand. A US stock INDEX like the S+P index reflects the FUTURE value of all of the individual US companies in that INDEX by the TOTAL of the individual stock prices.

[jimjamuser]

Last year? SEC filings from the largest oil and gas companies show they’ve collectively completed $45.6 billion worth of buybacks since the start of 2021.

So, if you're ok with oil and gas companies dramatically increasing their prices so they can buy back their stock, and make their investors happy, then no one has any reason to complain about current prices.
Stock buy-backs are often a desperate attempt by a corporation to prevent its stock price from falling. It can also happen when a corporation is MORE optimistic about its future than the general market.

[jimjamuser]

Management decided that the future of oil was not great and it was best to return excess cash to their investors. They saw that govt was going to push the automakers into electric vehicles greatly reducing the demand for oil.

The investors can than take the money and invest in other things that help grow the economy. Do you think they take this cash and hide it under their mattresses?

Are you still saying this is a bad thing?
Reducing the DEMAND for oil should push the price of oil (and gasoline) down. Making the US less dependent on Middle East and Russian oil.

[jimjamuser]

Make sense. Don't reinvest the profits into alternative sources of energy. Just let the demand run out and call it a day. Not a long term strategy but you gotta make hay while the sun shines.
Large corporations are often not very nimble at changing their basic business models.

[jimjamuser]

What an insensitive and out of touch response. So you are ok with paying 2 1/2 times more for gas than 18 months ago? Double what you paid for milk and other food products in the same time period? I guess you must be a rich liberal who can afford to pay $10/gal for gas if need be. Most of us are not in that boat.
When economics gets too confusing just play the LIBERAL card, just like a get-out-of-jail card.

[jimjamuser]

Its called supply and demand. When the government restricts supply buy increasing regulations, canceling pipelines, discouraging investment, and delaying or canceling permits, supply drops and prices skyrocket. This is a completely self inflicted crisis. The answer, drill baby drill.
The oil price was NOT changed so much by what the US government did, BUT a lot by what the Russian government did.

[Topspinmo]

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

You forgot to add stock traders

[Topspinmo]

Last year? SEC filings from the largest oil and gas companies show they’ve collectively completed $45.6 billion worth of buybacks since the start of 2021.

So, if you're ok with oil and gas companies dramatically increasing their prices so they can buy back their stock, and make their investors happy, then no one has any reason to complain about current prices.

Stock market controls price of crud oil.

Crude Oil Prices Today | Brent and WTI Price Charts (https://www.dailyfx.com/crude-oil)

[jimjamuser]

Supply and Demand is the culprit behind the price increase. When you limit the supply, the demand stays the same and prices go up. Who sets these prices - it begins with the cost per barrel which fluctuates daily. In 2020 the average price per barrel was $39.68; in 2021 the average price was $68.17. The average for 5 months of 2022 is $99.56 and the price today is $120 per barrel - 200% more than 2020.

Why did the price per barrel go up? Because the supply was cut; the demand stayed the same and buyers of oil were willing to pay more to meet the demand.

Does this affect industries other than automotive? A little under ½ a barrel of oil is used for gas. The rest goes to the manufacture of plastics, fertilizer, cosmetics, detergents, solvents and pharmaceuticals.

I recall, in 2016, when Candidate Obama was interviewed about Climate Change, he stated that he would like to see gas prices go up to $7 or $8 per gallon to stimulate the growth of renewable energy. He trained his Vice-President well. I guess neither man considered the collateral damage of their decisions.
Long term, the future of energy IS renewable energy. Even Saudi Arabia knows this. Here in the Villages, it comes down to when are you going to replace your noisy, smelly gas golf cart with a clean, quiet ELECTRIC golf cart?

[Topspinmo]

Reducing the DEMAND for oil should push the price of oil (and gasoline) down. Making the US less dependent on Middle East and Russian oil.

We didn’t depend on foreign oil till recently. 3% Russia non player but makes good talking BS point.

[Topspinmo]

Long term, the future of energy IS renewable energy. Even Saudi Arabia knows this. Here in the Villages, it comes down to when are you going to replace your noisy, smelly gas golf cart with a clean, quiet ELECTRIC golf cart?

Long term like 200 plus years.

[jimjamuser]

Take from the poor and give to the rich then deny the poor a living wage.
Outsourcing to China helps deny the poor a living wage. Also, tax breaks for the wealthy.

[Topspinmo]

And you honestly believe that US oil companies would sell the oil cheaper on US market, than the OPEC fixed world price?

How does OPEC fix market, oil trading set price. Now they can affect that price by increasing or decreasing output if other suppliers don’t set up or regulated out of the picture.

[jimjamuser]

You did not quote me but apparently you are directing your response to me.

Just because I understand the forces behind the oil business and our economy does not mean that I am ok with this self induced inflation.

I am as unhappy as anyone else but understand the culprit behind this.

The inflation was caused by our govt and world economics.

The Fed took way to long to start to cool the economy by raising interest rates. The govt paid too much money to people not earning as much as others and people got used to being one parent breadwinner so labor force participation is way down and the resulting shortage of workers caused wages to increase substantially.

Further our govt in its infinite wisdom decided oil was bad and promoted electric vehicles and discouraged expanding oil production which was decreased during covid.

As a result of all this we are all paying more for the products we use every day.
Today's inflation has a lot to do with factors that NO ONE in the US had ANY control over - namely the Russian invasion of the Ukraine and China's bad Covid response which shut down its economy and stopped their manufactured goods from being sent to the US - thus hurting the SUPPLY of manufactured products, which drove those prices up.
........The closest thing to US blame is that the FED should have reacted faster. But, historically, the FED has NOT gotten its TIMING PERFECT.

[jimjamuser]

Price gauging to me is a very short run thing.

Cost of pills and the shot for bee strings is part of our govt screwing up the medical system and allowing things like this to happen. No reason medicare cannot negotiate pricing of drugs.
The Government CAN'T screw up the medical system because INSURANCE controls the biggest medical system. Except for the smaller V.A., Medicare, and Medicaid systems. And yes, the INSURANCE companies DO screw up the US medical system. Other countries are smart enough to have the more superior National Health Care systems.

[Stu from NYC]

The Government CAN'T screw up the medical system because INSURANCE controls the biggest medical system. Except for the smaller V.A., Medicare, and Medicaid systems. And yes, the INSURANCE companies DO screw up the US medical system. Other countries are smart enough to have the more superior National Health Care systems.

Given how inefficient the US govt is would be very worried that they would screw up a single payer system.

[Stu from NYC]

Reducing the DEMAND for oil should push the price of oil (and gasoline) down. Making the US less dependent on Middle East and Russian oil.

Except the supply of oil was also reduced as the world was waking up from covid pushing up demand.

As a result lack of supply as well as US govt telling the world oil producers that gasoline had no future pushed up pricing

[Two Bills]

How does OPEC fix market, oil trading set price. Now they can affect that price by increasing or decreasing output if other suppliers don’t set up or regulated out of the picture.

You are right. My bad.
Should have said OPEC fix production, not price.
Which demand and market raises or lowers price, which is still not set by governments, which was the point I was trying to get across.

[Vikingjunior]

Well, according to sleepy Joe "this is the growing pains of the transition"

The green new deal is in full effect. Enjoy.

[ithos]

1st quarter oil profits
Chevron - $6.3B
Exxon - $5.5B
BP - $6.2B
Shell - $9.1B



Living is easy with eyes closed

Company 2020 net income (crude oil averaged $42)
Exxon Mobil Corp. -$22 billion
Shell Oil Co./Motiva Enterprises LLC $5 billion
Chevron Corp. -$6 billion
BP North America -$6 billion
ConocoPhillips/Phillips 66 -$3 billion
TOTAL -$32 billion

I wonder what the price of a gallon of gas would be if we introduced price controls so that there was no profit left to explore and develop new oil sources.

[Blackbird45]

Is the price of oil excessive compared to what Americans are used to? I would say yes! But compare to what took place in the oil crisis of 1973 this is nothing. For those who either where not around, were not old enough to drive or have just forgotten. You could only fill your car every other day and you waited in long lines for hours when it was your day and many stations had limits to how much gas you could have. The crisis was comparable to the toilet paper shortage during the pandemic, but with a much more devastating effect. If you lived long enough, you would understand that all these situations sooner or later will self-correct.

[kcal63]

Some parts of the country are already approaching $6. By the end of this year we are looking at $8 per gallon. At this point the only reasonable expectation of a price decline would be from a decline in demand, which is not likely for at least 4 years. JMO.

[Bay Kid]

I am not sure if the increase in the cost per gallon will result in more taxes for the State. I "believe" federal excise tax on fuel is a percentage. State tax is so much per gallon. Let's say a state adds ten cents per gallon as a tax for road repairs. An increase in the price of a gallon could very well result in lower tax revenue for the state, as people will drive less.

They still make more per gallon than anyone. Even higher taxes on diesel that delivers everything, which the cost is passed on.

[The Chipster]

If you don't need to drive long distances, owning an EV right now is like putting money in the bank each week. No gas, oil changes, regular service intervals, new brake pads, etc. I bought a used Jaguar I-Pace on autotrader.com, charge it up in my garage about once per week, and pat it on the butt every morning.

[hypart]

Some parts of the country are already approaching $6. By the end of this year we are looking at $8 per gallon. At this point the only reasonable expectation of a price decline would be from a decline in demand, which is not likely for at least 4 years. JMO.

$8 per gallon? Come on $10 per gallon. Or even $15! I own a bunch of oil stocks. And if you don't then 🤷

Come on oil!

[jimjamuser]

We didn’t depend on foreign oil till recently. 3% Russia non player but makes good talking BS point.
The price of a barrel of oil in the US is dependent on the WORLD market for oil and the WORLD SUPPLY, which mostly depends on the Middle East oil, but also Russian oil, Ukrainian oil, and even countries like Norway which produces oil. Russia's unprovoked attack on the Ukraine caused the RISK FACTOR to the World's oil supply to skyrocket and took up the price of oil.
............Oil futures price equals world supply (not just the US supply) plus RISK to that SUPPLY. When Russia invaded the Ukraine there was that RISK factor plus a RISK factor that the war COULD (?) spread to become even a WORLD WAR. A WORLD WAR or even a spread involving Europe would affect the Middle East and oil would be DISRUPTED - like a BIG oil shortage.
............So part of the price that WE are paying for gasoline at the pump is a RISK premium caused by WORLD INSTABILITY.

[jimjamuser]

Given how inefficient the US govt is would be very worried that they would screw up a single payer system.
National Health Care works fine in ALL other countries, but the US is again the outlier, just like about gun safety. Historically, the US dependence on INSURANCE companies began way back in a Roosevelt Administration that put on wage and salary CONTROLS. To circumvent the requirements and to recruit the best employees, Corporations would entice new employees with company-paid benefits. It was a great CASE of UNINTENDED CONSEQUENCES.
.........And thus began the INSURANCE COMPANIES stranglehold on US healthcare! Which we pay dearly for today.

[jimjamuser]

Except the supply of oil was also reduced as the world was waking up from covid pushing up demand.

As a result lack of supply as well as US govt telling the world oil producers that gasoline had no future pushed up pricing
Supply does not CHANGE or even affect DEMAND. They are INDEPENDENT factors that in tandem cause the PRICE to go up or down, which balances the equation.

[jimjamuser]

Well, according to sleepy Joe "this is the growing pains of the transition"

The green new deal is in full effect. Enjoy.
The green new deal has little effect on oil prices today (maybe in the future). Oil FUTURES price is up because of the RISK introduced by Russia's invasion of the Ukraine and the destabilizing effect to the world that it produced.

[jimjamuser]

Company 2020 net income (crude oil averaged $42)
Exxon Mobil Corp. -$22 billion
Shell Oil Co./Motiva Enterprises LLC $5 billion
Chevron Corp. -$6 billion
BP North America -$6 billion
ConocoPhillips/Phillips 66 -$3 billion
TOTAL -$32 billion

I wonder what the price of a gallon of gas would be if we introduced price controls so that there was no profit left to explore and develop new oil sources.
Price controls have unintended consequences.

[jimjamuser]

Is the price of oil excessive compared to what Americans are used to? I would say yes! But compare to what took place in the oil crisis of 1973 this is nothing. For those who either where not around, were not old enough to drive or have just forgotten. You could only fill your car every other day and you waited in long lines for hours when it was your day and many stations had limits to how much gas you could have. The crisis was comparable to the toilet paper shortage during the pandemic, but with a much more devastating effect. If you lived long enough, you would understand that all these situations sooner or later will self-correct.
Excellent post!

[jimjamuser]

Some parts of the country are already approaching $6. By the end of this year we are looking at $8 per gallon. At this point the only reasonable expectation of a price decline would be from a decline in demand, which is not likely for at least 4 years. JMO.
I believe that demand is starting to go down right now.

[fishon]

Build back better is as much a success as shovel ready jobs.

[jimjamuser]

If you don't need to drive long distances, owning an EV right now is like putting money in the bank each week. No gas, oil changes, regular service intervals, new brake pads, etc. I bought a used Jaguar I-Pace on autotrader.com, charge it up in my garage about once per week, and pat it on the butt every morning.
That helped take down the DEMAND for oil.

[Stu from NYC]

I believe that demand is starting to go down right now.

Probably due to the people who cannot afford 5- 6 bucks a gallon for gas.

[Gpsma]

Drove up to Charleston yesterday morning. 301 up to 95 around Yulee. All seemed usual on 301. Got on 95...thought it was the twilight zone...less trucks and cars..and almost no RVs..especially those big bus type driven by old Ralph Kramdens. I would call 95 “empty” compared to normal.

Maybe this is good...brandon types will love it...we are protecting the environment.

[Stu from NYC]

Drove up to Charleston yesterday morning. 301 up to 95 around Yulee. All seemed usual on 301. Got on 95...thought it was the twilight zone...less trucks and cars..and almost no RVs..especially those big bus type driven by old Ralph Kramdens. I would call 95 “empty” compared to normal.

Maybe this is good...brandon types will love it...we are protecting the environment.

The shops and restaurants along the interstate will certainly not be enjoying their lost business as they layoff their employees

[frose]

10 by labor day.....

[Topspinmo]

Next time a hurricane comes through, you will be okay with $10/gallon for water?

I mean, they should be able to charge anything they want. And if your grandchild is allergic to bee stings, $1000 for a $15 shot is okay? Gouging is gouging and is generally considered immoral and illegal (in many cases - the shot producers had to pay a $600 Million fine)

All you’re example’s of gouging has nothing to do with crude oil daily price in stock market. The costs of gallon gas directly related to stock commodities exchange where all crude brought on daily basic.

[Topspinmo]

Build back better is as much a success as shovel ready jobs.

Or cash for clunkers.

[jimjamuser]

We didn’t depend on foreign oil till recently. 3% Russia non player but makes good talking BS point.
Prior to the Russian invasion, Russia produced 14% of the world's oil. Russia is a very large country whose main exports are oil and weapons. John McCain called Russia a "gas station masquerading as a country".

[jimjamuser]

Probably due to the people who cannot afford 5- 6 bucks a gallon for gas.
Yes, an OLD economic slogan is," the CURE for high prices is HIGH PRICES!

[jimjamuser]

Drove up to Charleston yesterday morning. 301 up to 95 around Yulee. All seemed usual on 301. Got on 95...thought it was the twilight zone...less trucks and cars..and almost no RVs..especially those big bus type driven by old Ralph Kramdens. I would call 95 “empty” compared to normal.

Maybe this is good...brandon types will love it...we are protecting the environment.
I hope that those that are AGAINST protecting the environment and believe that Global Warming is a hoax - don't get HEAT stroke from the heat and humidity here lately in TV Land. Enjoy!

[jimjamuser]

All you’re example’s of gouging has nothing to do with crude oil daily price in stock market. The costs of gallon gas directly related to stock commodities exchange where all crude brought on daily basic.
The majority of the increase in the price of oil is caused by the worldwide RISK of loss of oil SUPPLY triggered by Russia's invasion. The price of ANY commodity or stock depends on the future risk.

[JMintzer]

The oil price was NOT changed so much by what the US government did, BUT a lot by what the Russian government did.

Then please explain the HUGE jump in prices from January 2021 up to "Putins price hike"...

https://charts.gasbuddy.com/ch.gaschart?Country=USA&Crude=f&Period=18&Areas=USA+Average%2c%2c&Unit=US+%24%2fG

[JMintzer]

Today's inflation has a lot to do with factors that NO ONE in the US had ANY control over - namely the Russian invasion of the Ukraine and China's bad Covid response which shut down its economy and stopped their manufactured goods from being sent to the US - thus hurting the SUPPLY of manufactured products, which drove those prices up.
........The closest thing to US blame is that the FED should have reacted faster. But, historically, the FED has NOT gotten its TIMING PERFECT.

Then what was the cause of all of that inflation BEFORE Putin's invasion?

Why was inflation still very low during the first year of Covid?

[JMintzer]

If you don't need to drive long distances, owning an EV right now is like putting money in the bank each week. No gas, oil changes, regular service intervals, new brake pads, etc. I bought a used Jaguar I-Pace on autotrader.com, charge it up in my garage about once per week, and pat it on the butt every morning.

If you have to decide between putting gas in your car vs food on the table, how do you suggest one pays for an EV, who's average price is about $56K?

[JMintzer]

National Health Care works fine in ALL other countries, but the US is again the outlier, just like about gun safety. Historically, the US dependence on INSURANCE companies began way back in a Roosevelt Administration that put on wage and salary CONTROLS. To circumvent the requirements and to recruit the best employees, Corporations would entice new employees with company-paid benefits. It was a great CASE of UNINTENDED CONSEQUENCES.
.........And thus began the INSURANCE COMPANIES stranglehold on US healthcare! Which we pay dearly for today.

If you think long waits for surgery and cancer treatment is fine, then yeah, it's great!

[JMintzer]

I hope that those that are AGAINST protecting the environment and believe that Global Warming is a hoax - don't get HEAT stroke from the heat and humidity here lately in TV Land. Enjoy!

Yeah, it's not been hot in FL during the Summer since the dawn of time...

[JMintzer]

The majority of the increase in the price of oil is caused by the worldwide RISK of loss of oil SUPPLY triggered by Russia's invasion. The price of ANY commodity or stock depends on the future risk.

Just because you keep saying it doesn't make it any more true...

[Stu from NYC]

If you think long waits for surgery and cancer treatment is fine, then yeah, it's great!

That seems to be the Canadian way. Wait on surgery for long enough and hope the patient figures out a different way to pass on

[jimjamuser]

Then please explain the HUGE jump in prices from January 2021 up to "Putins price hike"...

https://charts.gasbuddy.com/ch.gaschart?Country=USA&Crude=f&Period=18&Areas=USA+Average%2c%2c&Unit=US+%24%2fG
During the Pandemic the oil companies CAPPED off many wells - thus limiting supply. So, prices went up during the summer of 2021. There was a bump up in price at about Jan 2022 because Russia was staging troops for an invasion of the Ukraine. This was due to increased global risk. Then Russia invaded and by March 2022 the world realized that oil supply was at greater risk - and the price SPIKED upward
........Today the WORLD RISK is VERY HIGH. and the US oil companies can NOT react quickly enough to uncap their wells and get MORE oil flowing. Plus US and world DEMAND has increased because of pent-up desire to TRAVEL All those factors contribute to the HIGH price of oil and gas today. Of those factors, The Russian invasion had the greatest effect and lit the spark toward HIGH PRICES of oil. And oil prices are also a BIG factor in US inflation. Thanks for the question
- I hope that helps.

[jimjamuser]

That seems to be the Canadian way. Wait on surgery for long enough and hope the patient figures out a different way to pass on
That IS just a talking point by the insurance companies that make HIGH profits and are happy that the US is the BACKWARD outlier in the world with respect to National Health Care. Incidentally, Sweden, Canada, and all the others are happy with their National Health Care - they pay LESS and get MORE. US health care is so bad that people visiting from Europe take out health insurance because the US is so BACKWARD. Also, the US VA system is basically National Health Care for veterans, who get better prices on medicine and good care for less money. It just makes sense because the VA system is NOT a for-PROFIT system like the insurance companies, which are inefficient due to too many middle managers and too much advertising and time fighting other competing insurance companies.
........Also just check the world lists for qualities like INFANT MORTALITY and you will find that the US ranks very low compared to the countries with National Health Care. Also average height......again the US is low. That tells you that US health care is very low on world standards. US insurance companies "toot their own horn" and US citizens buy into that fallacy. The US leads the world in Medical Science and research, but it does NOT trickle down to the ordinary citizen!

[MartinSE]

Today's inflation has a lot to do with factors that NO ONE in the US had ANY control over - namely the Russian invasion of the Ukraine and China's bad Covid response which shut down its economy and stopped their manufactured goods from being sent to the US - thus hurting the SUPPLY of manufactured products, which drove those prices up.
........The closest thing to US blame is that the FED should have reacted faster. But, historically, the FED has NOT gotten its TIMING PERFECT.

Exactly.

No pipeline was closed, a pipeline expansion was stopped which would not have come online yet anyway. No impact.

Restricting drilling? No, the companies have 1000's of permits they are not using, because the banks that finance new wells don't want to finance drilling right not. (Google it, they took a bath a while back and are Leary that there needs to be more wells)

96% of the world is also experiencing inflation at massive levels, not just the 4% that lives here.

A significant part of Russian invasion and COVID rebound and China lockdown all happening at the same time.

[MartinSE]

During the Pandemic the oil companies CAPPED off many wells - thus limiting supply. So, prices went up during the summer of 2021. There was a bump up in price at about Jan 2022 because Russia was staging troops for an invasion of the Ukraine. This was due to increased global risk. Then Russia invaded and by March 2022 the world realized that oil supply was at greater risk - and the price SPIKED upward
........Today the WORLD RISK is VERY HIGH. and the US oil companies can NOT react quickly enough to uncap their wells and get MORE oil flowing. Plus US and world DEMAND has increased because of pent-up desire to TRAVEL All those factors contribute to the HIGH price of oil and gas today. Of those factors, The Russian invasion had the greatest effect and lit the spark toward HIGH PRICES of oil. And oil prices are also a BIG factor in US inflation. Thanks for the question
- I hope that helps.

And even IF the US oil companies do uncap and start pumping massive amounts of oil, you think they are going to sell it here for cheap or selling it at world market prices? Hmm, I thin oil companies would rather be nice guys than make money, don't you? (Sarcasm)

[MartinSE]

That seems to be the Canadian way. Wait on surgery for long enough and hope the patient figures out a different way to pass on

Have you ever lived in Canada? I have, and even as an American living/working there, I found less wait and more care than anywhere here - until I got into the VA system which is vastly better than our for profit system.

[MartinSE]

If you think long waits for surgery and cancer treatment is fine, then yeah, it's great!

Sorry, this is just wrong, and has been argued AD NAUSEAM. US pays twice what most 1st world countries pay (per capita) and receives worse results. We now rank around 17th in quality of healthcare.

[Stu from NYC]

That IS just a talking point by the insurance companies that make HIGH profits and are happy that the US is the BACKWARD outlier in the world with respect to National Health Care. Incidentally, Sweden, Canada, and all the others are happy with their National Health Care - they pay LESS and get MORE. US health care is so bad that people visiting from Europe take out health insurance because the US is so BACKWARD. Also, the US VA system is basically National Health Care for veterans, who get better prices on medicine and good care for less money. It just makes sense because the VA system is NOT a for-PROFIT system like the insurance companies, which are inefficient due to too many middle managers and too much advertising and time fighting other competing insurance companies.
........Also just check the world lists for qualities like INFANT MORTALITY and you will find that the US ranks very low compared to the countries with National Health Care. Also average height......again the US is low. That tells you that US health care is very low on world standards. US insurance companies "toot their own horn" and US citizens buy into that fallacy. The US leads the world in Medical Science and research, but it does NOT trickle down to the ordinary citizen!

Actually my comment was based on talking to Canadians about their system. Many will come to the US for procedures and pay full price in order to not succomb to their illness.