Economy Let's talk gas prices

KineticChaos said:
Or you could just hope that electric cars get cheaper & become better. People aren’t driving gas vehicles by choice, they’re driving gas vehicles because often it’s the only option. That’s a hard concept for ignorant liberals to understand though. Especially ignorant liberals that spend their entire life in city limits where everything is close to them.
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It will happen. All the domestic companies are rolling them out. They'll become the majority and gasoline powered will hopefully become the minority.

Curse those ignorant liberals! <45>
 
"
The are two factors that have driven up the price of oil. One is that demand collapsed last year as pandemic measures were implemented and people stopped traveling. The price of oil plummeted. That, in turn, ended up idling 3 million barrels per day (BPD) of U.S. oil production relative to a year ago.

As the end of the pandemic nears, oil demand is bouncing back. Supply doesn’t respond as quickly, and therefore that puts pressure on prices. If you think Biden is responsible for hastening the end of the pandemic, then you can place some blame for the rise in oil prices on him. But that’s because the economy is beginning to recover, which is a good thing.

Second, unlike a year ago, OPEC and Russia recently decided to cooperate by extending most of the current output cuts. Despite some recovery in demand, Saudi Arabia kept in place a 1 million BPD cut. That decision sent oil prices sharply higher, and will likely ensure additional gains in gasoline prices.

Vitol Group, the world’s largest independent oil trading house, pointed the finger directly at OPEC. Mike Muller, head of Vitol’s Asia division, said “The market is telling us that OPEC+ have control. We’re going to get a stock-draw that is going to accelerate through the second quarter and that’s why the market is doing what it’s doing.”"
https://oilprice.com/Energy/Energy-General/Why-Gasoline-Prices-Will-Continue-To-Rise.html
 
Topguntrophey said:
"
The are two factors that have driven up the price of oil. One is that demand collapsed last year as pandemic measures were implemented and people stopped traveling. The price of oil plummeted. That, in turn, ended up idling 3 million barrels per day (BPD) of U.S. oil production relative to a year ago.

As the end of the pandemic nears, oil demand is bouncing back. Supply doesn’t respond as quickly, and therefore that puts pressure on prices. If you think Biden is responsible for hastening the end of the pandemic, then you can place some blame for the rise in oil prices on him. But that’s because the economy is beginning to recover, which is a good thing.

Second, unlike a year ago, OPEC and Russia recently decided to cooperate by extending most of the current output cuts. Despite some recovery in demand, Saudi Arabia kept in place a 1 million BPD cut. That decision sent oil prices sharply higher, and will likely ensure additional gains in gasoline prices.

Vitol Group, the world’s largest independent oil trading house, pointed the finger directly at OPEC. Mike Muller, head of Vitol’s Asia division, said “The market is telling us that OPEC+ have control. We’re going to get a stock-draw that is going to accelerate through the second quarter and that’s why the market is doing what it’s doing.”"
https://oilprice.com/Energy/Energy-General/Why-Gasoline-Prices-Will-Continue-To-Rise.html
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"Let's talk gas prices" doesn't mean "let's make a serious effort to understand what's happening with gas prices." People just want to develop another dumb partisan talking point.
 
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my car runs on gummy bear flavored vape cartridges. Take that, libs
 
Wet Blanket said:
Ok?
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Ok, so I'm having some fun with you but surely you must be aware that most people can't afford to buy a brand new car? You must be aware of how many people either don't make enough money or have bad credit? Those are the people that are still going to be paying 8 dollars/gallon of gas. I swear, I'll never understand how you progressives can be so out of touch with the working class.
 
Wet Blanket said:
It will happen. All the domestic companies are rolling them out. They'll become the majority and gasoline powered will hopefully become the minority.

Curse those ignorant liberals! <45>
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“It will happen” but you agree with raising gas prices before it happens. Clearly you’re a person that has never struggled to afford the gas you need to get somewhere.
 
Ichibanner said:
It's a really low roof. Take away stimulus checks and he doesn't hit 50's. It's even worse if vaccines weren't available.

What has Biden and his Admin done that is a net positive for the American people? Please enlighten us.
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Ask the people giving him the high approval rating. The majority of the country by far is happy with his performance.
 
I don't know much about gas policy but I'm sure most of it can be attributed to something specific. LOL.

I don't know what I'm talking about but it won't stop me from blaming the political party I don't like.

You can't make this stuff up.
 
TapSnapBreak said:
It’s up 35% by me since November. According to this chart, it hasn’t been this high in 9 years.
I don’t know enough about gas policy to blame all of this on Biden, but I have to assume most of it can be traced back to his policies. Feel free to correct me ...

I know it always goes up in the summer, but it’s only March atm, too early for that annual rise.

View attachment 842234
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Looking at the below chart , the average price of diesel in Feb of 2018 was 3.046 . The average price for Feb 2021 is $2.847.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emd_epd2d_pte_nus_dpg&f=m

My recollection is that prices were pretty low for 2020 but before that it was at where it is now for some months. 2020 is an aberation, due to a big decrease in demand. You also have to factor in that the Saudis waged an oil price war with Russia in spring of 2020. Saudi Arabia joined with Russia in trying to drive the price of oil down, to destroy US shale oil producers.


On 8 March 2020, Saudi Arabia announced unexpected price discounts of $6 to $8 per barrel to customers in Europe, Asia, and the United States. The announcement triggered a free fall in oil prices and other consequences that day, with brent crude falling by 30%, the largest drop since the Gulf War.[24][25]

On 2 April, U.S. President Donald Trump, after significant internal pressure, called Saudi Arabian crown prince and de facto ruler Mohammed bin Salman, threatening to withdraw U.S. military support if OPEC and its allies did not cut oil production.[33] The following day, Russian President Vladimir Putin ordered energy minister Alexander Novak to prepare an extraordinary OPEC meeting and stated that global production could be cut by 10 million barrels. In response to Putin's statement, oil prices jumped.[34]


https://en.wikipedia.org/wiki/2020_Russia–Saudi_Arabia_oil_price_war
 
Wet Blanket said:
Hope they keep rising so people start buying more electric cars.
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first build an infrastructure to support them.

right now a Mustang Mach-E can't even charge at Tesla supercharging station. it's like USB-C versus Apple Lighting. don't put more power into the hands of billionaire technocrats.
 
Seano said:
Ok, so I'm having some fun with you but surely you must be aware that most people can't afford to buy a brand new car? You must be aware of how many people either don't make enough money or have bad credit? Those are the people that are still going to be paying 8 dollars/gallon of gas. I swear, I'll never understand how you progressives can be so out of touch with the working class.
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I wasn't expecting it to happen overnight.
 
Yeah, we're saving the environment. Gas prices are going to keep going up because we are transferring ourselves to more environmentally friendly forms of transportation. Joe Biden is quite LITERALLY saving the world
 
It’s causing a disaster in terms of construction material, copper wire 14-2 has doubled in the last month..
 
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