Gas $7.29 this morning

Gas prices are high because the Saudis and OPEC are holding firm on production limits. They lost billions trying to protect market share against US frackers and need to recoup their losses. The US fracing industry is slowly ramping up production but has a long way to go. Prior to the Saudi's flooding the market in 2015, the US rig count was just over 2,000. Now it is just at 543 after hitting an all time low of 250 during the pandemic. Investors have been very slow to put money back into P&E after getting burned by the Saudi's flooding the market. So, it may take up to a year to get the US rig count high enough to provide enough supply to bring prices back down. Fracing production is a big ship and takes a long time to turn around.

On the other hand, high gas prices are good. We will not be able to make any sort of meaningful transition from fossil fuels if gas prices are kept artificially low due to OPEC manipulating the market. High carbon energy prices make renewable competitive and drives more investment into that sector.

It's because Joe Biden wants everyone to drive a wind powered car.

zvcdszatfer wrote:

Vaccine mandates aside, most fully support them especially for HC workers, please tell us what Joe Biden did or didn't do that caused all these problems. Guy is trying to mop up a complete clusterfook. Absent the pandemic and the disastrous Trump response to the pandemic, which of these problems would or wouldn't exist?

The Blue A'non is strong in this one. Yes Trump is still the bogeyman and is responsible for everything. We had the economy running better under most of his term than any time in recent US history until leftists deliberately shut down the global economy.

Joe Biden makes Jimmy Carter look like the grandmaster of the Universe. It is hilarious to watch him create mess after mess and then brainwash fools to claim he is trying to clean up Trump's mess. Other than the fact that the media screamed about how evil Trump was every day during his tenure as president what did he do that specifically harmed your life. As far as his pandemic response, the response from pretty much sucked for every country except for a certain Scandinavian one the blue checks screamed about but has had no Delta surge thanks to their strategy. Joe Biden inherited what was supposed to be the easiest layup of an economic recovery in world history. All he had to do was nothing. Yet now we still have millions out of work, massive supply chain issues, raging inflation that is going to get worse, and even more division than we had under Trump. But yes it's all the Orangeman's fault even though he has been gone for 10 months.

I live in the midwest. I got gas yesterday for right at $3.00 a gallon, maybe slightly more. I remember 20 years ago people made a big deal when it went above $2 for the first time where I lived. I just used an inflation calculator, $2.00 in 2001 is $3.10 today. So it's pretty much the exact same as 20 years ago where I live. And even if it was way more at $4 per gallon, how much are you driving that that really effects you? I would have to do quite a bit of driving to do a tank per week, which is 15 gallons, that'd be an extra $15 per week. Or $60 a month, or $720 in a year. So in an extreme case it would be an extra $720 per year (which it's not).. people are overreacting right now.

All those sentences but no substance or support?

Isn't the support the increase in GDP versus inflation?

That figure would do the opposite of supporting his rant.

Good for the economy? Try backing that up with facts instead of Bernie tweets. The spending deal is admittedly about institutionalizing the social agenda. The rush to pass is to prevent scrutiny of the details.

zvcdszatfer wrote:

OK, Boris.

Vaccine mandates aside, most fully support them especially for HC workers, please tell us what Joe Biden did or didn't do that caused all these problems. Guy is trying to mop up a complete clusterfook. Absent the pandemic and the disastrous Trump response to the pandemic, which of these problems would or wouldn't exist?

Also, I've never see anywhere near 7.29 gas and I live in the DC suburbs (ie an expensive place here in the US, Boris). Gas is 3.50 ish. Cheaper at costco.

You don’t think Biden and Democrats are at least responsible for the high gas prices? Please. Biden shut down pipelines that were d@mn near finished. Stopped drilling. Trying to go green wayyyyy too fast.

Math Checks Out wrote:

I live in the midwest. I got gas yesterday for right at $3.00 a gallon, maybe slightly more. I remember 20 years ago people made a big deal when it went above $2 for the first time where I lived. I just used an inflation calculator, $2.00 in 2001 is $3.10 today. So it's pretty much the exact same as 20 years ago where I live. And even if it was way more at $4 per gallon, how much are you driving that that really effects you? I would have to do quite a bit of driving to do a tank per week, which is 15 gallons, that'd be an extra $15 per week. Or $60 a month, or $720 in a year. So in an extreme case it would be an extra $720 per year (which it's not).. people are overreacting right now.

It was just under two dollars here two summers ago for the first time in a longggg time. Now it’s $3.30 and climbing. The last time gas was this high? Oh yeah that Obama guy when it got to over $4.00 dollars here.

Haha a tank a week? You definitely don’t have to drive much. Be thankful.

He’s the only one doing his job. Instead of rubber stamping anything and everything.

In my state Help Desk jobs are the hottest these days. Service jobs don't pay enough and don't get any respect aty all.

1)Cancel the Keystone Pipeline by Dictatorial Executive Order on Day 1.

2) Shut down Federal Leasing on Day 2.

3) Tell the world that you will kill the hydrocarbon industry and spend billions of taxpayer money to support an inefficient economic electric car- battery world along with wind and solar. (limit funding for oil and gas companies)

4) Piss off the Middle East with moronic withdrawal from Afghanistan.

Watch oil prices rise from $40/bbl to $85/bbl and then have the audacity to ask oil executives to help you with the rising cost of gasoline.

"LETS GO BRANDEN !!!"

Only guy ever dumber in the Whitehouse whas the wise idiot Jimmy Carter with his "windfall profit taxes".

disbelief wrote:

This morning at the pump in Northern California.

We went from a raving lunatic to a complete failure in only a year.

Literally 20% of the nursing staff snd respiratory therapists at the hospital I work at have quit in protest of the vaccine mandate. Another barrage will be coming after burning out because of lack of shift coverage.

Tax increase inevitably coming.

Inflation increasing.

Literally hundreds of ships backed up in LA.

Eff all these politicians- dem and repubs both.

/Rant.

Yep in April 2019, a gallon cost $11.75/gallon in that California town. Good to see gas prices are down.

Soaring gas and food prices. And the media isn't showing people's discontent about it. SMH

Quit complaining about the price of gas and go out and find a new job with a 20% raise for yourself. Workers have never had more power. When inflationary pressures decline by this time next year, you’ll be living like a king not worrying about 20 cent fluctuations in the price of a gallon of gas.

As a moderate independent Im not a fan of extreme right wing nor left wing policies. I thought Biden would be moderate. That’s certainly how he portrayed himself leading up to the election. However so far he’s been compromised by the extreme left of his party. Thus why a moderate Democrat senator like Manchin is fighting back so hard.

Trump was a huge disappointment as a nominee. However if the Republicans can get together a moderate candidate in 2024 I will vote for her/him. This country is going down a slippery slope of extremism. Both right wing facism and left wing communism are wrong. Both are about totalitarianism. Both must be fought!

Usually when gas gets this high, it soon is "corrected" and reduced. But now we will permanently see high gas prices as well as other forms of inflation looming. You can all thank crazy Joe Biden for that. Actions or lack thereof have consequences. All this time spent putting on a dog and pony show and giving out handouts to buy votes has come back to bite general society. Time to wake up.

disbelief wrote:

This morning at the pump in Northern California.

We went from a raving lunatic to a complete failure in only a year.

Literally 20% of the nursing staff snd respiratory therapists at the hospital I work at have quit in protest of the vaccine mandate. Another barrage will be coming after burning out because of lack of shift coverage.

Tax increase inevitably coming.

Inflation increasing.

Literally hundreds of ships backed up in LA.

Eff all these politicians- dem and repubs both.

/Rant.

I live in the San Francisco Bay area and I just paid $4.19. The only places where gas is $7 are places like Big Sur or other remote tourist locations where the individual owners believe they can gouge the public. That has nothing to do with Biden you twit.