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Post by Buckeye2b on Apr 26, 2022 20:03:59 GMT -5
The ongoing cost of fuel is driving me a little bit crazy. I don’t follow the reasons for the increase that closely, and I realize that Putins war has some to do with it. However just a couple of days ago we were at about $3.60 a gallon here in Monroe Michigan. Today, that same station is up to $3.99 a gallon. Can anyone enlighten me why we gained a $.40 jump in two days? Obviously, something is going on and I would at least like to know why my *** feels like it’s getting an ongoing oil check every time I go to the pump…
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Post by Deleted on Apr 27, 2022 9:03:27 GMT -5
Russia cut off their supply to Poland and Bulgaria
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Post by baldref on Apr 27, 2022 9:58:43 GMT -5
According to all media reports, Russia cutoff all natural gas supplies to Poland and Bulgaria. Did not mention oil supplies but that may have been done as well or possibly earlier. In any case, big oil will use ANY excuse to jack up the gasoline fuel prices. Y
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Post by cbus on Apr 27, 2022 15:53:10 GMT -5
I'm curious what people are doing to deal with inflation. I know back in the '80s when we didn't have much money, but had a lot of inflation, we didn't eat many steaks and had a lot of bologna. We also drove fuel efficient cars instead of big gas guzzlers. I assume people are making similar choices now.
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Post by Willard Fillmore on Apr 28, 2022 9:47:19 GMT -5
According to all media reports, Russia cutoff all natural gas supplies to Poland and Bulgaria. Did not mention oil supplies but that may have been done as well or possibly earlier. In any case, big oil will use ANY excuse to jack up the gasoline fuel prices. Y Not true. The current administration on day one in office, using executive orders, curtailed a great deal of oil production in the US. Their goal was to drive up the cost of gasoline to purposely hurt people in their pocket book, eventually making them buy electric cars that they can not afford. AGAIN hurting the little guy. Also, middle east countries have cut back their production, for the sole purpose of increasing the price of crude, increasing their profits. Simple supply and demand. The less there is of a commodity AND the more demand there is, increases prices. ALSO, The Fed has discouraged the banking industry from lending money to US oil companies to drill. You DO NOT want to see price controls on gasoline, if you remember what happened during the Carter administration. Did you sit in lines at gas stations trying to buy a few gallons? You can not make someone sell something at a loss. Oil company's stored a lot of their gasoline under ground instead of selling it at a loss, waiting for price controls to be lifted. Which eventually had to be done, as the Carter administration saw the results of their poor decision. There IS one solution, as long as you don't mind living in a communist country or a fiefdom in the middle east. Where the government or a king owns the the oil and gas industries. This administration in a desperation move in hopes of solving their coming mid-term election debacle is considering price controls on food. An idea being floated by the socialist wing of their party. The results would be the same as we've seen in communist countries where shelves in grocery stores are empty. The oil shortage increases the cost of crude, which increases gasoline prices which increases the price of EVERYTHING. As the cost of transportation and the cost of producing products increase as a bye product. Only ONE thing will curtail inflation. Set free the oil industry to drill and frack. Which this administration will never do, as it would admit their entire plan was terribly wrong. Only after mid-terms will this happen.
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Post by baldref on Apr 28, 2022 13:15:24 GMT -5
The only part of my original post that is debatable is my OPINION that big oil will use any excuse to jack up gasoline prices. Their sole purpose is to make money for their stockholders. Again, the following is also my OPINION -- big oil and its stockholders are very happy and content with the current situation and have no intention of increasing supply even if every current regulatory law on the books were suddenly gone and they had free rein to do as they wish. They have no reason to - they are making record profits. My fear is that they are inviting the government price controls that you referred to, not only on gasoline but on most everything else or eventually cause a major recession when the Fed hikes interest rates to a point where growth stops and the economy collapses. Then all the politicos and news hacks can play the blame game and every crook and hack can run for election and a new game begins. It's all BS.
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Post by Willard Fillmore on Apr 28, 2022 14:03:43 GMT -5
ALL publicly traded companies MUST make profits for their share holders, or their stock tanks.
All I stated is a FACT, prove otherwise.
I'll help you out, buy some stock in Chevron, who is diversified in more than just oil and Marathon whose headquarters in just up the road in Findlay. Or Exxon Mobile who pays a 5.5% dividend. Sitting and doing no more than having "opinions" is a loser strategy. AGAIN, just stating a fact.
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Post by baldref on Apr 28, 2022 14:53:31 GMT -5
Thanks but we have been pleased with the XOM portion of our portfolio and the dividends. "Only ONE thing will curtail inflation. Set free the oil industry to drill and frack. Which this administration will never do, as it would admit their entire plan was terribly wrong. Only after mid-terms will this happen." Your statement there is your Opinion --hasn't been proven yet, so looks like we all have "loser" strategies (opinions) on occasion.
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Post by Deleted on Apr 28, 2022 15:58:47 GMT -5
Carter administration? How many people on here are even old enough to remember that, let alone born then?
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Post by clb6110 on Apr 28, 2022 17:01:11 GMT -5
Kennedy admin here. Ha albeit only 1 day in then he was gone.
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Post by Buckeye2b on Apr 28, 2022 17:10:03 GMT -5
Carter administration? How many people on here are even old enough to remember that, let alone born then? Buckeye2B raises his hand....
Damn, you are calling a guy old....
However, I did get my answer and more long term rhetoric about what has happened to the price of fuel. I get the long term pic, but it's the nuts and bolts in the short term that I was trying to understand. I just needed to know what shortage was happening and why it was pushing the price up so fast and hard. I buy close to 1000 gallons of diesel every week for my school buses, so I am familiar with the pricing, but just wanted to see who was poking the bear currently to keep that price at a max.
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Post by Buckeye2b on Apr 28, 2022 17:12:07 GMT -5
Kennedy admin here. Ha albeit only 1 day in then he was gone. I was born in December, just after the Kennedy assassination, so I feel your pain...
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Post by Willard Fillmore on Apr 28, 2022 20:13:28 GMT -5
Thanks but we have been pleased with the XOM portion of our portfolio and the dividends. "Only ONE thing will curtail inflation. Set free the oil industry to drill and frack. Which this administration will never do, as it would admit their entire plan was terribly wrong. Only after mid-terms will this happen." Your statement there is your Opinion --hasn't been proven yet, so looks like we all have "loser" strategies (opinions) on occasion. You think the Biden Administration will allow fracking and drilling to go back to normal?? ROFL... Lets make a bet, your XOM stock vs mine. I say there will be no significant change in drilling policy before the midterms, you say there will be.
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Post by Willard Fillmore on Apr 28, 2022 20:16:11 GMT -5
Carter administration? How many people on here are even old enough to remember that, let alone born then? Very ignorant to think no one in the US is over 40. Little teenies like you need to read more about US history.
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Post by baldref on Apr 28, 2022 20:27:50 GMT -5
Thanks but we have been pleased with the XOM portion of our portfolio and the dividends. "Only ONE thing will curtail inflation. Set free the oil industry to drill and frack. Which this administration will never do, as it would admit their entire plan was terribly wrong. Only after mid-terms will this happen." Your statement there is your Opinion --hasn't been proven yet, so looks like we all have "loser" strategies (opinions) on occasion. You think the Biden Administration will allow fracking and drilling to go back to normal?? ROFL... Lets make a bet, your XOM stock vs mine. I say there will be no significant change in drilling policy before the midterms, you say there will be. Did not say that -- just wanted to prove that you mix opinion with fact, just like everyone else on this forum. That I did do.
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Post by Willard Fillmore on Apr 28, 2022 20:42:09 GMT -5
Proved nothing. The only 100% certainty is death and taxes. There are some 99% certainties, like owning oil stocks today. Another 99 percenter is that there will be no significant change in drilling policies before midterms. The reason I'm willing to bet the 500 shares I own. That and it's a small % of my investments
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Post by Deleted on Apr 29, 2022 5:21:17 GMT -5
Carter administration? How many people on here are even old enough to remember that, let alone born then? Very ignorant to think no one in the US is over 40. Little teenies like you need to read more about US history. It was a joke. Shocking you took it the wrong way and had to insult me. You’re a real class act.
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Post by Willard Fillmore on Apr 29, 2022 6:05:05 GMT -5
You are the joke. I just speak as spoken to.
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Post by Deleted on Apr 29, 2022 10:34:25 GMT -5
You are the joke. I just speak as spoken to. Rent free
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Post by maplecityjake on Apr 29, 2022 11:43:56 GMT -5
Gas prices?
"I did that" is infamous
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Post by Deleted on Apr 29, 2022 13:03:07 GMT -5
Looks like the price went up again. Close to $4 now. Always seems to happen when I need to fill up lol
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Post by Willard Fillmore on Apr 29, 2022 14:22:12 GMT -5
You are the joke. I just speak as spoken to. Rent free A term used by losers of a debate
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Post by cbus on May 1, 2022 20:21:43 GMT -5
I am wondering about a fact- How much oil and gas pumped in the US comes from federal lands? I've seen it with Google searches to be as high as 8%. That seems low given that the federal leases are the cause of the gasoline price increases. I hope someone can help me out here.
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Post by Buckeye2b on May 3, 2022 15:25:27 GMT -5
Gas prices? "I did that" is infamous I am admittedly a fan of that little ditty... My preferred station in Monroe gets the president pasted on the screen and scrapes them off. Within a day or two, he reappears only to be scraped off again. It's an exercise in futility, albeit a fun one...
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Post by Willard Fillmore on May 4, 2022 21:20:29 GMT -5
I am wondering about a fact- How much oil and gas pumped in the US comes from federal lands? I've seen it with Google searches to be as high as 8%. That seems low given that the federal leases are the cause of the gasoline price increases. I hope someone can help me out here. This administration stopped awarding oil leases on federal land and in the Gulf of Mexico. I forgot to add that into the equation
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Post by Buckeye2b on May 24, 2022 17:55:30 GMT -5
Just a little tidbit... Gasoline in Detroit has hit $4.99 a gallon. It's a new all time high and I live in glorious times.
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Post by Willard Fillmore on May 24, 2022 19:34:41 GMT -5
This administration wants to vastly reduce oil and gas production in this country and buy it from overseas. To facilitate using other types of energy in this county to help with "climate change". SO to get oil to this country it MUST come in giant tanker ships. Think about this. EACH of those ships use 2000 gallons of oil per hour and emit 8 tons of CO2 per hour. How ignorant can they be??
ALSO in other oil producing countries in the world they burn off the natural gas which is a by product of oil wells. ALSO emitting tons of CO2 per hour every hour of the day into the atmosphere at every oil well in the rest of the world. Which is illegal to do at US oil wells.
The left wing crazies in the US want everything to run on electricity. Did you know that currently 80% of all engines of any kind in this country are power by oil and gas AND most current electric plants are powered by oil and gas as well as coal.
At this point in time our electric grids are currently taxed to their limits. Have you heard anything from anyone what they're going to do about this grave issue when we no longer use gas or oil and depend completely on electric energy?
BTW, China is currently bringing on line a new coal powered electric plant every month of every year. They talk a good game(lie as they do about everything) but are NOT doing anything about climate change, except building some electric cars for US car manufacturers.
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Post by sweathog on Jun 2, 2022 11:40:29 GMT -5
You have no one to blame for gas prices but the left and Democrats party lead by the *** whole himself, Obama, Biden don't ever know what day it is!!! They just want to make us a third would county. Coal is still cheapest power we have and does not pollute the air like Obama said! If the election wasn't stolen by voter fraud, none of this would be going on, high gas prices and everything else. Putin wouldn't be doing what he is now if Trump was still president!! And to all them driving a Ford pickup with 2nd amendment sticker on bumper and rifle hanging in rear window, I will be on your side!!! Oh I forgot mullet haircut!! Forgot also, screw their climate change!!!
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Post by gibby23 on Jun 2, 2022 14:54:43 GMT -5
You have no one to blame for gas prices but the left and Democrats party lead by the *** whole himself, Obama, Biden don't ever know what day it is!!! They just want to make us a third would county. Coal is still cheapest power we have and does not pollute the air like Obama said! If the election wasn't stolen by voter fraud, none of this would be going on, high gas prices and everything else. Putin wouldn't be doing what he is now if Trump was still president!! And to all them driving a Ford pickup with 2nd amendment sticker on bumper and rifle hanging in rear window, I will be on your side!!! Oh I forgot mullet haircut!! Forgot also, screw their climate change!!! Amen.
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Post by sbclives on Jun 2, 2022 15:06:54 GMT -5
You have no one to blame for gas prices but the left and Democrats party lead by the *** whole himself, Obama, Biden don't ever know what day it is!!! They just want to make us a third would county. Coal is still cheapest power we have and does not pollute the air like Obama said! If the election wasn't stolen by voter fraud, none of this would be going on, high gas prices and everything else. Putin wouldn't be doing what he is now if Trump was still president!! And to all them driving a Ford pickup with 2nd amendment sticker on bumper and rifle hanging in rear window, I will be on your side!!! Oh I forgot mullet haircut!! Forgot also, screw their climate change!!! They want to make us into a third would county? Could you someone give me directions to where exactly third would county is.
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