[Maker]

Originally Posted by dtennent

It appears that your original statement that Biden cancelled existing gas and oil leases isn't true.

Access Denied

If so, your conclusion that the oil companies lost billions on existing assets is wrong.

Can you tell me when he cancelled existing leases?

How can you say it is not true when the link you sent talks about when Biden was working on allowing additional land leases to happen on worthless land. The first line says: "The Biden administration is delaying decisions on new oil and gas leases"

Harvard Law School has a lot of information about Biden's actions to cancel and then block land leases for oil and natural gas wells. Simple legal facts without any political spin. Here is one example.

h-t-t-p-s://eelp.law.harvard.edu/2021/12/leasing-pause-and-review/
Federal Onshore and Offshore Oil and Gas Leasing Pause and Review - Harvard Law School

[Keefelane66]

Fuel around where we live 466a is around $3.40 gal Circle K 3 miles north circle K is $2.96 along with BJ’s and Sam’s. Yes we’ll drive that far to save $.44 a gallon or almost $9.00 on a fill up.
Many businesses grocery stores, gas stations, restaurants are over charging. One example is Publix’s sales for the three months ended April 1, 2023 were $14.3 billion, an 8.2% increase from $13.2 billion in 2022. Comparable store sales for the three months ended April 1, 2023 increased 6.4%.

Gas prices show an 8% difference in 3 miles it’s called price gouging!

[Rainger99]

Originally Posted by OrangeBlossomBaby

I'll just re-post this every so often with an update on how many "pages of this" it's up to.

You might want to ask the moderator to close the thread.

[schwarz]

Originally Posted by Michael G.

3% drop for June is good news going forward but what about all the prices that were raised
in the past to the present, will those prices drop........I think not.

Salaries and SS payments up too...you want them lowered?

[bumpa]

Originally Posted by oldtimes

So we should be happy prices are still going up but just not as much?

Prices ALWAYS go up, just a matter of how much. In any case the slower the increase the better. Remember the Feds goal is to limit annual price increases to 2%.

[ChezD]

Originally Posted by OrangeBlossomBaby

Read all the previous replies correcting me, and my response acknowledging that I was incorrect. There's around 1.5 pages of this. I mean unless you just want to jump on the "OB Is Wrong" bandwagon, in which case - go ahead and get your rocks off.

Economics lesson over for the day. 😎

[Elixir34]

Not seeing gas prices dropping in IL. Saw a station in Joliet, IL last night with regular at $4.37/gal. Other area stations at $4.00. Compare with price at Costco in Maui - selling for $4.36 which one would expect there. You all are lucky to be living in FL and in TV even more so. We will be back soon.

[ron32162]

And the rest of us that will not drive 5 to 10 miles to BJs ,pump prices are still at 3.50 a gallon and up around here and everywhere else. But good for you to be able to see thru those rose colored glasses and avoid reality

[jimbomaybe]

Originally Posted by dewilson58

Nope.

It's an economic cycle.

The cycle being, the government prints money, nice to have more money, the Government looks good for doing so. this of course causes inflation , the government then prints less, inflation goes down, the government is now a hero for fighting inflation, but you are still stuck with higher prices overall , of course its the fault of greedy businesses and evil corporations

[Keefelane66]

Originally Posted by Steve

Then how do you explain that it was $1.87 before COVID hit?

I makeup stuff too. Actually “ U.S. average retail gasoline prices in 2019 were slightly lower than in 2018. U.S. regular retail gasoline prices averaged $2.60 per gallon (gal) in 2019, 11 cents/gal (4%) lower than in 2018.”
Although it may be considered an inferior petroleum I refuel at BJ’s $2.96 gal

[Chasue]

Yes. If you hurry over to Beall's you can get 10% off of everything they marked up 20% yesterday!

[Normal]

Are we missing the part about about the economy, and that it really, really, really bites right now? That seniors who budgeted for retirement may be forced to work again? That a trip to the grocery store this year is almost twice the price it was 30 months ago? That homes are now a small fortune and the middle class has never been smaller? That our national debt is at unfathomable levels? Inflation hit and the damage is huge.

[mambeg]

Originally Posted by OrangeBlossomBaby

Inflation was as high as 9.1% nationwide a year ago. We were still recovering from global shut-downs post-pandemic, restoring jobs lost, getting manufacturers back on track, and a bunch of other stuff that's political so I won't detail it here but - politics certainly played some part.

The good news, is that the inflation rate has been in decline for the past 12 months, consecutively, and hit 3% as of the end of June.

That is a 3% increase over and above last years 9.1%. 3 % sounds good but it just added on the the already high prices.

[oldtimes]

Originally Posted by Normal

Are we missing the part about about the economy that it really, really bites right now? That seniors who budgeted for retirement may be forced to work again? That a trip to the grocery store this year is almost twice the price it was 30 months ago? That homes are now a small fortune and the middle class has never been smaller? That our national debt is at unfathomable levels?

Doesn't fit the narrative

[Byte1]

Some folks will grasp at any manipulated stat to push their agenda. If inflation increased only 3% over the 9% last year, that's still 12%. Time to celebrate? So funny. Kind of like saying, only a million jobs were lost this year, when last year 12 million jobs were lost (not fact, just an example). The only people that might enjoy increased inflation are those that benefit for higher interest rates.
When I spend over $300 a week at the grocery store when I only spent $150 a couple years ago, I don't need someone telling me that it's raining when their dog is peeing on my shoes.