Politics
Sponsored By

YOU DID That

4,200 Views | 30 Replies | Last: 11 days ago by TAMU1990
laavispa
How long do you want to ignore this user?
Quote:

On Thursday, the national average price for a gallon of regular gasoline dropped eight cents to $4.13.

New data from the Energy Information Administration (EIA) shows that gas demand dropped from 9.25 million barrels per day to 8.54 million per day last week.

https://www.foxbusiness.com/economy/gas-demand-similar-early-days-covid-19

So, adjusted driving habits not selling of SPR assets, or badgering oil companies by POTUS is responsible.
ProgN
How long do you want to ignore this user?
It has more to do with the world entering a recession.
geoag58
How long do you want to ignore this user?
AG
laavispa said:

Quote:

On Thursday, the national average price for a gallon of regular gasoline dropped eight cents to $4.13.

New data from the Energy Information Administration (EIA) shows that gas demand dropped from 9.25 million barrels per day to 8.54 million per day last week.

https://www.foxbusiness.com/economy/gas-demand-similar-early-days-covid-19

So, adjusted driving habits not selling of SPR assets, or badgering oil companies by POTUS is responsible.


People are running out of money to buy gas for driving that is not necessary.
TexasAggiesWin
How long do you want to ignore this user?
S
Take credit for 'good' news, never take responsibility for 'bad' news = the politician way
rocky the dog
How long do you want to ignore this user?
AG
Elections are when people find out what politicians stand for, and politicians find out what people will fall for.
Kenneth_2003
How long do you want to ignore this user?
AG
Energy demand is not purely elastic, but there is some discretionary usage.

This is NOT the end of summer driving season. That shouldn't wind down for another couple weeks.
CyclingAg82
How long do you want to ignore this user?
AG
rocky the dog said:


coolerguy12
How long do you want to ignore this user?
AG
geoag58 said:

laavispa said:

Quote:

On Thursday, the national average price for a gallon of regular gasoline dropped eight cents to $4.13.

New data from the Energy Information Administration (EIA) shows that gas demand dropped from 9.25 million barrels per day to 8.54 million per day last week.

https://www.foxbusiness.com/economy/gas-demand-similar-early-days-covid-19

So, adjusted driving habits not selling of SPR assets, or badgering oil companies by POTUS is responsible.


People are running out of money to buy gas for driving that is not necessary.


Two years ago we drove my truck to CO for a two week vacation. Brought a dirtbike and all sorts of fun stuff for the time we were there. This summer we drove my wife's minivan to save on gas. Still a fun trip but missed out on some hiking that was 4X4 access only and didn't have as many outdoor toys for the kids to play with.

FJB
Owlagdad
How long do you want to ignore this user?
We consolidate our trips now.
Simple Jack
How long do you want to ignore this user?
laavispa said:

Quote:

On Thursday, the national average price for a gallon of regular gasoline dropped eight cents to $4.13.

New data from the Energy Information Administration (EIA) shows that gas demand dropped from 9.25 million barrels per day to 8.54 million per day last week.

https://www.foxbusiness.com/economy/gas-demand-similar-early-days-covid-19

So, adjusted driving habits not selling of SPR assets, or badgering oil companies by POTUS is responsible.

The last I saw, gasoline consumption had dropped by 10%. People are driving less because of the high gas prices. Guess what? Prices come down when that happens.

Biden is the worst president in our history, worse than Buchanan and Lincoln.

eta:

from the AAA site:

Declining Gas Demand and Oil Prices Push National Average Down Again
No Spin Ag
How long do you want to ignore this user?
I couldn't care less why the price of gas goes down, or who's said to be responsible, so long as it does.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
Maroon Dawn
How long do you want to ignore this user?
AG
Vacation season (tons of pent up demand from COVID) coming to an end and recession under way

Demand is down and will continue to fall but not for any good reasons like increased supply
Gator92
How long do you want to ignore this user?
AG
Maybe not...

Quote:

1) EIA data is subject to major revisions: The EIA does its best to get out petroleum data weekly but it's a tough job and subject to all kinds of assumptions. HFI Reserach notes that the data is subject to big revisions when the month numbers are finally released. So traders may be simply looking at bad data that will be adjusted.

2) US gasoline storage remains at a five year low: Given cracks and pressure on to boost gasoline output, refiners have been working hard this summer. Combined with supposed lower demand, inventories should be moving up rapidly. Despite some progress, inventories are basically flat in the last month and still at five-year lows. This is another HFI chart and their explanation is well-worth reading.

  • 3) Refiners aren't seeing a slowdown: US refining giant Valero was asked about falling gasoline demand last week and Gary Simmons, Chief Commercial Officer, had this to say: "I can tell you, through our wholesale channel there is really no indication of any demand destruction... In June, we actually set sales records. We read a lot about demand destruction and mobility data showing in that range of 3% to 5% demand destruction. Again, we're not seeing it in our system."
  • 4) Alternate data doesn't line up: GasBuddy tracks retail gasoline demand at the pumps in the US and they showed a 2% rise in gasoline demand last week while the EIA showed a 7.6% drop. Morevoer, last week was the strongest demand of the year from GasBuddy.

Conspiracy: Some are have gone so far as to accuse the Biden administration of explicitly "cooking the numbers" to depress the price of oil. As a reminder, in late-June the EIA shut down reporting for several weeks, supposedly due to a server malfunction; however since they have returned, the gasoline demand data has been consistently bad. "Maybe there's an issue with reporting or maybe it's a conspiracy", according to ForexLive.

https://www.zerohedge.com/commodities/very-crooked-numbers-biden-admin-accused-fabricating-gas-demand-data-hammer-price-oil
BobaFettsClone
How long do you want to ignore this user?
AG
Whoa, whoa, whoa…hold on for one damn minute!!! Are y'all telling me that gas prices follow the laws of supply and demand? Who'd have thunk it? Oh, wait, that's right, plenty of TexAgs posters have been saying it for…um…ever.
A great civilization is not conquered from without until it has destroyed itself from within.

- W. Durant
Kenneth_2003
How long do you want to ignore this user?
AG
I'm inclined to look at EIA data over GasBuddy.com.

That said, lets see where demand goes once summer winds down and the kids are back in school. I think a lot of people went ahead with summer travel in the face of rising prices. A lot of those trips were likely planned before prices really ratcheted upwards, and some of the reservations were likely already made.

But the Covid cash is now long spent. Credit card ballances are on the rise. I think in the coming weeks or months we'll start to see some elasticity to the demand, if we're not already seeing it.
Philip J Fry
How long do you want to ignore this user?
AG

Bill Bigfoot
How long do you want to ignore this user?
AG
Mark it up to mark it down and call it a sale! Politicians are just used car salesmen in newer suits.
BQAg84
How long do you want to ignore this user?
AG
Demand destruction--all part of the plan.
mustang1234
How long do you want to ignore this user?
Will go right back up again when Biden's tapping of the Fed Oil Reserves ceases Sept 1. Its sad when this is all they have to promote.

But , the Dems said 2 month ago that the Prez could do little to control the price of oil?? It was the Oil companies and station owners' fault. Hypocrites.
HollywoodBQ
How long do you want to ignore this user?
AG
coolerguy12 said:

geoag58 said:

laavispa said:

Quote:

On Thursday, the national average price for a gallon of regular gasoline dropped eight cents to $4.13.

New data from the Energy Information Administration (EIA) shows that gas demand dropped from 9.25 million barrels per day to 8.54 million per day last week.

https://www.foxbusiness.com/economy/gas-demand-similar-early-days-covid-19

So, adjusted driving habits not selling of SPR assets, or badgering oil companies by POTUS is responsible.


People are running out of money to buy gas for driving that is not necessary.


Two years ago we drove my truck to CO for a two week vacation. Brought a dirtbike and all sorts of fun stuff for the time we were there. This summer we drove my wife's minivan to save on gas. Still a fun trip but missed out on some hiking that was 4X4 access only and didn't have as many outdoor toys for the kids to play with.

FJB
Sounds like you need a new job. Or at least a raise.
HollywoodBQ
How long do you want to ignore this user?
AG
Owlagdad said:

We consolidate our trips now.
Don't forget trip chaining from the W Bush days of $4 gas.

Tanya says that's a frugal mom best practice anyway.
HollywoodBQ
How long do you want to ignore this user?
AG
Ha - I actually ran into Boba Fett at a bar in LA last weekend. He's surprisingly short.
HollywoodBQ
How long do you want to ignore this user?
AG
No Spin Ag said:

I couldn't care less why the price of gas goes down, or who's said to be responsible, so long as it does.
If you don't care, that's cool as long as you don't complain about the high prices.

The only real complaint I have is credit card cut off limits for pay at the pump. Seems to kick in around $125 now.
rab79
How long do you want to ignore this user?
AG
HollywoodBQ said:

No Spin Ag said:

I couldn't care less why the price of gas goes down, or who's said to be responsible, so long as it does.
If you don't care, that's cool as long as you don't complain about the high prices.

The only real complaint I have is credit card cut off limits for pay at the pump. Seems to kick in around $125 now.
Shell station in Gonzales "let" me put $168 on my card. Haven't hit the stop limit anywhere yet.
in order for democrats, liberals, progressives et al to continue their illogical belief systems they have to pretend not to know a lot of things' By pretending 'not to know' there is no guilt, no actual connection to conscience. Denial of truth allows easier trespass.
doubledog
How long do you want to ignore this user?
geoag58 said:




People are running out of money to buy gas for driving that is not necessary.
This, Some people are starting to hit their credit limit.
DallasAg 94
How long do you want to ignore this user?
Bill Bigfoot said:

Mark it up to mark it down and call it a sale! Politicians are just used car salesmen in newer suits.
JCPenny did that.

They almost always sold things on sale and decided to be more transparent with their shoppers. So, they marked everything down at the actual price without putting it "on sale."

Shoppers revolted and they lost a ton of money.

So, JcP literally put new stickers over the old ones and market the prices up... then discounted them as "on sale."

The hilarious part is, when they returned to the higher prices and put them onsale... people ended up paying more... and the people loved it.

I don't have a real example, but from the link:

Quote:

One Nike women's t-shirt had a price of $25 on a sticker, which covered up an older price of $15. On a child's swimsuit, an $18 sticker covered up a $13 price tag.
$15 is 60% off $25. So, if they ran a sale for 20% off, you ended up paying $20.

People are just dumb
AggieUSMC
How long do you want to ignore this user?
AG
The recent drop in oil prices has more to do with a drop in demand than any increase in supply. That's not a good thing.
Build It
How long do you want to ignore this user?
AG
The million barrels released everyday from the reserve is certainly keeping the price of oil down. The fed is making money in the deal with the futures contracts. Smarter than we give them credit I suppose.

However I can't support the unprecedented move of depleting the reserve for economic reasons. When do we replace it?
annie88
How long do you want to ignore this user?
AG
All Biden and the Democrats do is **** everything up.

They never make things better.

Then they lie about it.

HTH
If you don’t have anything nice to say, then come sit by me. Oh and FJB.
cevans_40
How long do you want to ignore this user?
AG
annie88 said:

All Biden and the Democrats do is **** everything up.

They never make things better.

Then they lie about it.

HTH

And their sycophants still back them. It's absolutely crazy. Just look at the Hungarian thread for proof.
TAMU1990
How long do you want to ignore this user?
AG
geoag58 said:

laavispa said:

Quote:

On Thursday, the national average price for a gallon of regular gasoline dropped eight cents to $4.13.

New data from the Energy Information Administration (EIA) shows that gas demand dropped from 9.25 million barrels per day to 8.54 million per day last week.

https://www.foxbusiness.com/economy/gas-demand-similar-early-days-covid-19

So, adjusted driving habits not selling of SPR assets, or badgering oil companies by POTUS is responsible.


People are running out of money to buy gas for driving that is not necessary.
And people remember this while going to vote
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.