Ga$ Prices

#36
#36
Ga$ Prices



SUCK!

My next Car................
Mercedes-Benz-Style-Edition-Garia-Golf-Car_09-e1468590859915.jpg
 
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#38
#38
zooguy said:
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The United States doesn't set the price of gasoline.

While it’s true that Russian oil is only 8% of imports to the US, its a global commodity, not an exclusively American one. 5 to 10 million barrels per day are coming off the global market. Places that were buying a larger quantity of Russian oil are scrambling to replace it, driving up prices everywhere. U.S. producers have the option to export their oil, so if prices are higher elsewhere, they’re going to sell it elsewhere unless U.S. prices come up to match, which is basically what is happening now.
 
#40
#40
K-town Vol Fan said:
The United States doesn't set the price of gasoline.

While it’s true that Russian oil is only 8% of imports to the US, its a global commodity, not an exclusively American one. 5 to 10 million barrels per day are coming off the global market. Places that were buying a larger quantity of Russian oil are scrambling to replace it, driving up prices everywhere. U.S. producers have the option to export their oil, so if prices are higher elsewhere, they’re going to sell it elsewhere unless U.S. prices come up to match, which is basically what is happening now.
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Don’t bother trying to explain the intricacies of how the free market works to people that just want to blame the President (whichever one it happens to be when gas goes up).

Gas was higher in 2008 (adjusted for inflation it was actually a lot higher). It was dumb to blame Bush then and it’s stupid to Blame Biden now. Likewise it’s just as dumb to give credit to the President credit if it goes down.
 
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#42
#42
Costco Gas is always super packed can’t imagine how crazy it must be there now
 
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#43
#43
burntorangeVOLffle said:
Don’t bother trying to explain the intricacies of how the free market works to people that just want to blame the President (whichever one it happens to be when gas goes up).

Gas was higher in 2008 (adjusted for inflation it was actually a lot higher). It was dumb to blame Bush then and it’s stupid to Blame Biden now. Likewise it’s just as dumb to give credit to the President credit if it goes down.
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Yep. And the main talking point that is used ("They banned drilling on federal land!") is just that, a talking point. Democrats love to talk about it to boost their environmental bonafides to their base, and Republicans love to talk about it because they can make a case Democrats are restricting supply. Less than 10% of production comes off of federal land, and since Biden signed that order last year pretty much all of that production shifted to private land. And you can keep drilling/fracking the wells that were already drilled; the order stopped permits for new wells. It isn't much of an impact. Oil/gasoline would still be very expensive, probably just as expensive, without the order.

Remember when oil briefly went negative in March 2020? This is effectively the inverse of that. Supply and demand are all out of whack and price is responding accordingly.
 
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