Originally Posted by OhioBuckeye (Post 2080355)

I’m not trying to start an argument but the $0.27 was in N. M. (New Mexico) I’m sure grandpa was a lot older than & he did live in a different part of the country. I grew up in Ohio & gas when I was 16 or 17 yrs. old I was paying $0.23 a gal. for a gal. of gas (1965) & yes cars didn’t get the great gas mileage like cars today. But to be paying $4. a gal. is punishing us because we get 3 to 4 times better gas mileage. But gas doesn’t have cost us more than a $1.00 a gal. We have enough oil in the ground here in the U. S. to last us 3 or 4 hundred yrs. we could be supplying the rest of the world instead of the other way around. All we have to do is drill but the environmental goof balls control what we can do. I see what grandpa is talking about but why aren’t other parts of the world having issues with drilling?

Originally Posted by Taurus510 (Post 2080422)

Don’t forget the Keystone pipeline that was stopped. It wouldn’t have affected us in this run of prices, but it certainly would help us in the future.

Originally Posted by MartinSE (Post 2080419)

There is this complaint about drilling leases that the president is not releasing, and yet, the oil companies already have many they are not drilling. In fact, drilling is up in the last 15 months, however, it takes a while for new wells to come online. So, the lack of producing wells, if there is in fact is one, is a result of the time or policies prior to the last 15 months.

Also, we are not alone, oil (hence gas) prices are high all over the world. Hmm. Power change happened 15 months ago. In the last 15 months the oil companies have been reporting massive historic level profits. Hmmm...

just saying., fun to point fingers, but it is not always so easy to figure out what is really going on.

Originally Posted by Taurus510 (Post 2080422)

Don’t forget the Keystone pipeline that was stopped. It wouldn’t have affected us in this run of prices, but it certainly would help us in the future.

Originally Posted by Wyseguy (Post 2080444)

It is very sad when people make excuses and refuse to see the real problem. It is almost as if they do not care about the most vulnerable. People are hurting. Inflation, especially fuel costs, are causing real damage to middle and lower middle class families. First the virus, now this.

Originally Posted by MartinSE (Post 2080460)

Well, yes, a little The part that was shut down was not complete. And the entire proposed pipeline would have have a very small effect on OUR oil needs, since the majority of that oil was/is destined to go to the Gulf of Mexico and from there be shipped over seas.

However, if/when leaks occurred in that pipeline, WE would be responsible for cleaning it up - and leaks DO occur in pipelines. Meanwhile Canada was only responsible for depositing the checks for shipping the dirtiest oil known across our land.

Originally Posted by Love2Swim (Post 2080294)

According to the experts, there are three factors at play:

1. Post Pandemic demand. During the pandemic people sheltered at home so the typical driver cut their demand for gas in half. That sharp decline caused gas prices to plummet to a low of $1.94/gallon in April 2020.

2. Cuts to Oil Production. As the global economy recovered from the pandemic, OPEC was slow to ramp up production. The demand was far higher than the supply, causing higher prices.

3. War on Ukraine and global sanctions make it difficult for Russian oil to flow to the global market causing a 20% spike in oil and gas prices in just weeks.

Experts say oil and gas drilling in the US has increased but companies in the U.S. are constrained by tight supplies of rigs, trucks and labor that they need to supply more oil.

Even so, when adjusted for inflation, today's fuel prices are still below their peak in 2008.

Originally Posted by OhioBuckeye (Post 2080355)

I’m not trying to start an argument but the $0.27 was in N. M. (New Mexico) I’m sure grandpa was a lot older than & he did live in a different part of the country. I grew up in Ohio & gas when I was 16 or 17 yrs. old I was paying $0.23 a gal. for a gal. of gas (1965) & yes cars didn’t get the great gas mileage like cars today. But to be paying $4. a gal. is punishing us because we get 3 to 4 times better gas mileage. But gas doesn’t have cost us more than a $1.00 a gal. We have enough oil in the ground here in the U. S. to last us 3 or 4 hundred yrs. we could be supplying the rest of the world instead of the other way around. All we have to do is drill but the environmental goof balls control what we can do. I see what grandpa is talking about but why aren’t other parts of the world having issues with drilling?

Originally Posted by JMintzer (Post 2080491)

Then they should simply buy an EV. Problem solved!

And for those who need it...

https://c.tenor.com/DtZLhpsEu8wAAAAM...rcasm-sign.gif

Originally Posted by The Chipster (Post 2080330)

Horse puckey? Really?

Originally Posted by Wyseguy (Post 2080446)

I have to ask, what is being gained by the US not having an all of the above gas policy? pumping a barrel of oil from Venezuela causes more pollution than one from the US. That is without even considering transporting it to here.

Originally Posted by nn0wheremann (Post 2080304)

A Perspective from the Dismal Science of Economics.

As I recall, when gasoline topped $2.00 a gallon the first time, I really felt the pinch. It hurt. I think that was 1980. My Dodge convertible had a V8 motor.

In 1980 the Average Annual Wage was $12513. In 2019 (the last year available not influenced by the Pandemic) the AAW was $54100. That $2.00 gas that poked my pocket in 1980 cost, expressed in 2019 dollars, $8.65. {($54100 / $12513) * $2.00 = $8.65}

I paid $4.08 per gallon in 2022 dollars last night in Florida to fill my gas tank. So yes, inflation is real, it is here, but take a step back, gain some perspective, and quit complaining.

I think that in comparing consumer prices we should use as an inflation index the Average Annual Wage Index. AAW measures changes in wage earners' income, and it is generally income that consumers use to pay prices for everyday purchases. The measure is gathered from earnings records of all Americans who pay FICA tax, so is the broadest and most inclusive measure of income.

Originally Posted by MartinSE (Post 2080460)

Well, yes, a little The part that was shut down was not complete. And the entire proposed pipeline would have have a very small effect on OUR oil needs, since the majority of that oil was/is destined to go to the Gulf of Mexico and from there be shipped over seas.

However, if/when leaks occurred in that pipeline, WE would be responsible for cleaning it up - and leaks DO occur in pipelines. Meanwhile Canada was only responsible for depositing the checks for shipping the dirtiest oil known across our land.

Originally Posted by Jimmay (Post 2080322)

I remember when gas was $1.79 and that was only about a year ago.