Crime Gas was 2.73 today

It probably helps that Brent Crude is $69.04 a Barrel.

The four year low for gas was actually in March of 2023, during the Biden administration,

Just so you understand, the price of oil and gas in the United States is dictated by global markets, and has very little to do with the administration (at least it terms of spot pricing). When you see regional variation in gas prices, it is largely due to infrastructural factors (i.e. refinery maintenance), not political.

Trying to claim these things as a win or loss for any given president is foolish and exhibits a fundamental misunderstanding of how commodity markets work.
 
Brampton_Boy said:
It probably helps that Brent Crude is $69.04 a Barrel.

The four year low for gas was actually in March of 2023, during the Biden administration,

Just so you understand, the price of oil and gas in the United States is dictated by global markets, and has very little to do with the administration (at least it terms of spot pricing). When you see regional variation in gas prices, it is largely due to infrastructural factors (i.e. refinery maintenance), not political.

Trying to claim these things as a win or loss for any given president is foolish and exhibits a fundamental misunderstanding of how commodity markets work.
Click to expand...
Your fact based post will get ignored by a certain group of people
 
Brampton_Boy said:
It probably helps that Brent Crude is $69.04 a Barrel.

The four year low for gas was actually in March of 2023, during the Biden administration,

Just so you understand, the price of oil and gas in the United States is dictated by global markets, and has very little to do with the administration (at least it terms of spot pricing). When you see regional variation in gas prices, it is largely due to infrastructural factors (i.e. refinery maintenance), not political.

Trying to claim these things as a win or loss for any given president is foolish and exhibits a fundamental misunderstanding of how commodity markets work.
Click to expand...
When it’s cheap it’s not trump and when it high it is. Got it.


Not saying those are your potions but that’s what the board says when they’re high. There was a thread with nearly this exact title a short while ago.
 
It’s amazing that no matter what the price of gas is, the oil companies make record profits every year. They could lower the price of gas but choose not to and dance on a razor blade on how much the consumers will pay before they change their behaviors.
 
So do an administration's policies, say....opening up new pipelines, getting new refineries built, or allowing new oil and gas leases on public lands have ANY affect on the price of gas?

Of course not. Because the commodities markets are so complex!
 
Brampton_Boy said:
It probably helps that Brent Crude is $69.04 a Barrel.

The four year low for gas was actually in March of 2023, during the Biden administration,

Just so you understand, the price of oil and gas in the United States is dictated by global markets, and has very little to do with the administration (at least it terms of spot pricing). When you see regional variation in gas prices, it is largely due to infrastructural factors (i.e. refinery maintenance), not political.

Trying to claim these things as a win or loss for any given president is foolish and exhibits a fundamental misunderstanding of how commodity markets work.
Click to expand...
Strategic speculation dictates gas prices, USA has regulations and will give out more drilling permits , thus the market follows .
 
First eggs ... now gas


jon-jones-jon.gif
 
Stoic1 said:
So do an administration's policies, say....opening up new pipelines, getting new refineries built, or allowing new oil and gas leases on public lands have ANY affect on the price of gas?

Of course not. Because the commodities markets are so complex!
Click to expand...
Yea bro it’s all global market no chance Biden’s policy of not issuing new drilling permits had any effects on oil, even though the gas executives said it did in senate hearings ..

It’s Putin Russia gas hikes remember
 
Stoic1 said:
So do an administration's policies, say....opening up new pipelines, getting new refineries built, or allowing new oil and gas leases on public lands have ANY affect on the price of gas?

Of course not. Because the commodities markets are so complex!
Click to expand...

ShadowRun said:
Strategic speculation dictates gas prices, USA has regulations and will give out more drilling permits , thus the market follows .
Click to expand...

Did either of you read or understand my post? Do you understand what a spot price is?

The current price you pay for gas is not forward looking - it is a reflection of market dynamics currently in play. It's why when a hurricane happens and knocks out refinery capacity in the Gulf of Mexico, you see a jump in gas prices. Another great example is the start of the Ukraine war - oil shot up more than 50% because of worries surrounding potential disruptions in global oil supply.

I'm administrative agnostic (I could care less who is in power) - I do however take issue with people erroneously attributing cause and effect when they clearly don't understand how commodity prices actually function.

Also, a restriction on drilling permits has had no discernable impact on the price of oil or gasoline if you look at the charts. Oil is in a bear market.
 
ShadowRun said:
Yea bro it’s all global market no chance Biden’s policy of not issuing new drilling permits had any effects on oil, even though the gas executives said it did in senate hearings ..

It’s Putin Russia gas hikes remember
Click to expand...

How many thousands of barrels per day of crude oil was produced in the US, on average, during the Biden administration vs the first Trump administration? To be fair, you can exclude 2020 and 2021 because of COVID.
 
Also, for those of you who want a case study on why it's not in Oil Companies best interest to drill baby drill, look at what happened to natural gas prices during the fracking boom of 2011-2018. American fracking companies opened the taps and dropped the price of natural gas to below $2/MMBTU.

Great for American consumers, right? WRONG. The low price of natural gas ended up collapsing the market - fracking companies couldn't make money, and more than 80% of frackers went belly up, devastating economies in the central united states.

Now companies implement artificial caps on supply to keep the price at a point where they can still make money.
 
Interesting. My town went up. So how do we determine who is more representative?
 
Brampton_Boy said:
Did either of you read or understand my post? Do you understand what a spot price is?

The current price you pay for gas is not forward looking - it is a reflection of market dynamics currently in play. It's why when a hurricane happens and knocks out refinery capacity in the Gulf of Mexico, you see a jump in gas prices. Another great example is the start of the Ukraine war - oil shot up more than 50% because of worries surrounding potential disruptions in global oil supply.

I'm administrative agnostic (I could care less who is in power) - I do however take issue with people erroneously attributing cause and effect when they clearly don't understand how commodity prices actually function.

Also, a restriction on drilling permits has had no discernable impact on the price of oil or gasoline if you look at the charts. Oil is in a bear market.
Click to expand...

So would the things I listed affect market dynamics or not?

If a hurricane knocks out a refinery and oil shoots up, wouldn't building a new one increase reserve capacity in that same global supply?

If wars abroad, Ukraine for example, disrupt the global supply then wouldn't opening new leases and pipelines reduce the risk and reliance on areas that are exposed to conflict?


I feel like you can't ignore policies affecting price at some level. Or there would be no incentive to implement them. Supply and demand do affect commodities.
 
Brampton_Boy said:
Also, for those of you who want a case study on why it's not in Oil Companies best interest to drill baby drill, look at what happened to natural gas prices during the fracking boom of 2011-2018. American fracking companies opened the taps and dropped the price of natural gas to below $2/MMBTU.

Great for American consumers, right? WRONG. The low price of natural gas ended up collapsing the market - fracking companies couldn't make money, and more than 80% of frackers went belly up, devastating economies in the central united states.

Now companies implement artificial caps on supply to keep the price at a point where they can still make money.
Click to expand...

These people have no concept of how our economy functions. US oil companies produced far more oil during Biden's administration than Trump's (even when you discount COVID). Biden also approved nearly as many drilling leases. These companies are sitting on thousands upon thousands of leases and not drilling, because WHY THE FUCK WOULD THEY? Oil companies are like every other kind of company—they're interested in PROFIT. Flooding the market with your product and collapsing the price is retarded, and yet that's what MAGA thinks they're going to do. They honestly believe that those nice little oil companies all just wish they could lower the price of gas, but can't because mean old Joe Biden won't let them drill...
 
Stoic1 said:
So would the things I listed affect market dynamics or not?

If a hurricane knocks out a refinery and oil shoots up, wouldn't building a new one increase reserve capacity in that same global supply?

If wars abroad, Ukraine for example, disrupt the global supply then wouldn't opening new leases and pipelines reduce the risk and reliance on areas that are exposed to conflict?


I feel like you can't ignore policies affecting price at some level. Or there would be no incentive to implement them. Supply and demand do affect commodities.
Click to expand...

Your misunderstanding my point - if those things were to actually be implemented, then yes, they would absolutely impact the price of gas. However, the spot price (current price), reflects what is actually in place now - promises of future anything (increased capacity, laxer environmental regulations etc.) has no baring on the existing market.

If we were talking about the stock price of oil companies, then that is a very different conversation. Stock prices are "forward facing".

You guys have to understand there is a fundamental difference between the price of durable commodities (gold, silver etc.) and consumables (gasoline, eggs, coffee etc.).

As an illustrative example, the price of coffee has increased by more than 50% year over year. Commitments to "plant more coffee crops" has no baring on the current price, because it does not affect the current available supply for consumption.
 
Brampton_Boy said:
Your misunderstanding my point - if those things were to actually be implemented, then yes, they would absolutely impact the price of gas. However, the spot price (current price), reflects what is actually in place now - promises of future anything (increased capacity, laxer environmental regulations etc.) has no baring on the existing market.

If we were talking about the stock price of oil companies, then that is a very different conversation. Stock prices are "forward facing".

You guys have to understand there is a fundamental difference between the price of durable commodities (gold, silver etc.) and consumables (gasoline, eggs, coffee etc.).

As an illustrative example, the price of coffee has increased by more than 50% year over year. Commitments to "plant more coffee crops" has no baring on the current price, because it does not affect the current available supply for consumption.
Click to expand...

People don't understand real world economics.

Thanks Obama. /s
 
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