Gas is now under $3

66,076 Views | 838 Replies | Last: 2 hrs ago by docb
Teslag
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nortex97 said:

Teslag said:

nortex97 said:

Our 'allies.'
Quote:

However, even as oil prices ease on deal optimism, continued Ukrainian attacks on Russian oil infrastructure are driving refined product prices higher as output plummets, keeping upward pressure on what Americans pay at the pump.

Sigh...


Why should Ukraine base survival strategy on whether or not we (Americans) get a cheaper commute or late summer road trip?

Accepting arguendo your theoretical position is correct, Americans concerned about gas prices should oppose supporting further aid and intelligence data to Kiev, as such aid helps Democrats/the leftists politically in the US.

Ipso facto, we are in agreement, as such. Americans who want cheaper oil/gas prices should absolutely vote for the GOP this cycle (and all others).



Except that Ukraine began weening themselves off relying on our intelligence over a year ago to the point now where almost 2/3rd's of it comes from France. We cut them off financially, and became unreliable for data. So they shifted to a point where we aren't needed (as many of wanted, and got). Unfortunately, all it really did was take the leash off the dog.

https://www.kyivpost.com/post/68187

If we are counting on forcing Ukraine to lay off Russian oil supply then that simply isn't realistic. Nor should be expected. It's built in to our cost now.
Old McDonald
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read an interesting article today. tl;dr the reason crude prices haven't spiked as much as expected is because china has slashed its imports by as much as 5 million bpd since the conflict began. how or why they're doing this isn't clear, and the most obvious explanations (tapping their vast reserves, reduced consumption, offsets to other sources, shadow imports from russia) are incongruent with the evidence.
TRM
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I'd suggest removing tariffs could help with lowering consumer costs, but I was told the other countries eat the tariffs.
Less Evil Hank Scorpio
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Even if Ukraine did need our intelligence and money, why would they assume we are upset about high oil prices and hurting output from an enemy when we did the very same thing this year? They're just acting like Trump: accept pain for your populace to bring pain to the enemy.

Should they really hold themselves to a higher standard than we hold ourselves to?
sts7049
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who cares, we don't use the strait though right?
nortex97
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sts7049 said:



who cares, we don't use the strait though right?

Per the uber-geniuses on this thread we don't care if oil transport/refineries are disrupted, it's just the price of gas that matters, and somehow those two are not connected.
Teslag
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Who on this thread has said they don't care if oil refining isn't disrupted or that it doesn't matter?
Burpelson
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POTUS says the oil companies are to blame on this price increase, they are making way to much money.
nortex97
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Yes, bad Trump, an example of populist rhetoric to pander to low information voters I'd guess. Or worse, he really thinks that.
Dan Scott
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Sounds like strait will be opened tomorrow. Prices falling but not as low as they fell when it looked it it was all done last month.
PaulsBunions
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nortex97
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CL=F is off 5 percent to around $76 right now. $65-75 is really the sweet spot imho.

Of course, we all expect any 'opening' to last around 12-24 hours, but maybe this time it will somehow be different.

ETA: Crude oil futures contract (Sept 26th). It's what folks are contracting for, today essentially. WTI is a better indicator for Texas gas prices in a few days. It's around $75.
https://oilprice.com/oil-price-charts/45
No Spin Ag
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nortex97 said:

CL=F is off 5 percent to around $76 right now. $65-75 is really the sweet spot imho.

Of course, we all expect any 'opening' to last around 12-24 hours, but maybe this time it will somehow be different.

I honestly have no clue what "CL=F..." means, but if you happen to know if that means gas prices will go back down to the price they were at the pump when the price of oil was around $76, I'd appreciate it. It would be nice to have something to look forward to in the middle of all the rest of this.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
Charpie
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You should have included the other tweet from the Hormuz Report.

TxAG#2011
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Yes Trump and his cronies are getting more rich insider trading while the rest of us are paying for it at the pump. The grift never ends with this guy.

No Spin Ag
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Charpie said:

You should have included the other tweet from the Hormuz Report.



If true, the next dem administration's DOJ will have a field day looking into this on day one.

Hopefully it's not true. It would be very troubling to think making money had anything at all to do with Iran.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
nortex97
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Charpie said:

You should have included the other tweet from the Hormuz Report.



LOL, yep, they've got him this time! 'Close to Iranian officials.' Sounds credible.
TRM
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Drop Site is not credible.
techno-ag
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nortex97 said:

Charpie said:

You should have included the other tweet from the Hormuz Report.



LOL, yep, they've got him this time! 'Close to Iranian officials.' Sounds credible.

Yup. Got im!
The left cannot kill the Spirit of Charlie Kirk.
BigRobSA
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Dan Scott said:

Sounds like strait will be opened tomorrow. Prices falling but not as low as they fell when it looked it it was all done last month.

Weird because gas by me went up 30 cents in a few hours of the daytime, yesterday. $3.39 to $3.69. Still there.


And since "gas is under $3 a gallon" was the faulty premise of the OP, price of WTI ( correlated or not ) at this point is more of a derail than anything, to be honest. Other than graphically, it doesn't seem to correspond to gas pricing IRL.

nortex97
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BigRobSA said:

Dan Scott said:

Sounds like strait will be opened tomorrow. Prices falling but not as low as they fell when it looked it it was all done last month.


And since "gas is under $3 a gallon" was the faulty premise of the OP, price of WTI ( correlated or not ) at this point is more of a derail than anything, to be honest. Other than graphically, it doesn't seem to correspond to gas pricing IRL.

You're probably the only poster here who doesn't accept/understand the correlation.
ETA: 'other than graphically.' Is one of the funniest assertions I have read on this site, ever. 'Other than a visual representation of the math across a period of time.' Thank you again.
Less Evil Hank Scorpio
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Calling $75 the sweet spot when pre-conflict we were at $60 also feels like moving the goal posts to me. That's still a 25% increase own-goal. No regime change. Some dead Americans. Lots of infrastructure damage and pain at the pump along the way. Uncertain supply of refining byproducts going forward. Not going after the buried nuclear dust etc etc.

Pretty cool war we did there! And who knows if it's actually ending!
nortex97
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Less Evil Hank Scorpio said:

Calling $75 the sweet spot when pre-conflict we were at $60 also feels like moving the goal posts to me. That's still a 25% increase own-goal.

Call it whatever you want but Texas makes more money all around and production is higher in said $65-75 range.

From a political perspective yes, $50 even would be better to get gas closer to $2.25-2.50 but that has knock on effects too. The greater point remains that it is a global commodity which impacts transportation/production costs for all goods, not just filling up personal vehicles.

September gas contracts are at $2.84 fwiw.

There really could be a 'glut' of oversupply in the market toward November, as the Arab states are eager to refill their cash flow/have been sitting on a lot of inventory for half a year now.
PaulsBunions
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No Spin Ag
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BigRobSA said:

Dan Scott said:

Sounds like strait will be opened tomorrow. Prices falling but not as low as they fell when it looked it it was all done last month.

Weird because gas by me went up 30 cents in a few hours of the daytime, yesterday. $3.39 to $3.69. Still there.


And since "gas is under $3 a gallon" was the faulty premise of the OP, price of WTI ( correlated or not ) at this point is more of a derail than anything, to be honest. Other than graphically, it doesn't seem to correspond to gas pricing IRL.



True.

And voters, for the most part, don't know or care about the price of anything other than what they see at the pump. The IRL as you put it.

Sorry, price jumped for you, Rob. Hopefully it's an error and goes back down. It would suck if that happens to all of us.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
No Spin Ag
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PaulsBunions said:





If prices went up, which they did, because of the war with Iran, and now they're coming down (something others on F16 said will likely not happen), they'd at best go down to where they were before the war.

So his war has caused Americans to pay more for things for five-plus months, and going, but he wants us to give him an A+ because he says they're coming down, even though Google says, "No, broad grocery prices are not coming down overall."


What kind of teacher is he used to, cause in this type of situation, I'd be lucky enough to get an F.

Yes, I'll give him a much higher grade if all things are accomplished with Iran, making all the economic things worth it IMO, but right now, at best, I'm at a solid D, maybe D+ for extra credit.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
Serious Lee
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god bless matt walsh. Seems to be the only champion the middle class has right now in this info war
PaulsBunions
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Serious Lee said:

god bless matt walsh. Seems to be the only champion the middle class has right now in this info war


Yes, he's not abiding the BS cope. There are people unironically making the same arguments the libs used when Biden was president and everything was expensive.





ETA
MemphisAg1
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People know when someone is peeing on their boots and trying to tell them it's raining.

The worst thing any politician can do is spin, spin, spin. People see right through it.

I didn't like it when Biden it, and don't like it when Trump does it.

Just deal with stuff straight up. Tell us what you're doing to try and make it better, but stop trying to feed me a **** sandwich and tell me it's steak.
Rossticus
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I'm not sure they understand they're doing themselves more harm than good politically. Or maybe the plan is to gaslight up to midterms (for the more gullible members of the base) and then go all in on election fraud if we take an unfortunate (but preventable) L due to centrists and independents calling BS.

Luckily, a lot of them don't typically vote in midterms so maybe the hope is that the base is enough to carry them, regardless?
MemphisAg1
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Rossticus said:

I'm not sure they understand they're doing themselves more harm than good politically. Or maybe the plan is to gaslight up to midterms (for the more gullible members of the base) and then go all in on election fraud if we take an unfortunate (but preventable) L due to centrists and independents calling BS.

Luckily, a lot of them don't typically vote in midterms so maybe the hope is that the base is enough to carry them, regardless?

I've come to the realization that we've all been failed by our political leaders, regardless of party. They tell us what we want to hear. Then they go to DC and don't deliver.

They tell R's like me they're going to cut taxes, reduce spending, and work toward a balanced budget. They cut taxes but continue spending like a drunken sailor.

They tell Dems they're going to give them more free stuff... college, child-care, retirement, etc. They raise taxes but don't deliver on that other stuff because it's simply not possible to buy everything on your wish list. Money isn't free or unlimited.

Yet they keep telling us what we want to hear, and we keep eating it up, only to be disappointed time and again. Like Lucy pulling the football from Charlie. Bank on it.
PaulsBunions
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Fortunately the Democrats have no leadership or plan, I think they will fumble the opportunity the Republicans gave them on a silver platter.
Rossticus
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Here's to hoping.
Equinox
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$2.99 at Valero in Baytown.
nortex97
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$2.928 on Sept contract right now.

I guess a lot of folks on this thread will now be thanking Trump, right?
 
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