National Average Price of Gasoline Hits an All-Time High

[volfanhill]

Am I wrong, but did I hear the admin or Biden say that the pain would be worth it?

It was certainly heavily implied.

“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden

 

[Orangeburst]

It was certainly heavily implied.

“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden

I see why many say the President doesn't have the inherent powers to do things as we discuss. I have debated that myself for 40 years.
But when a President and bureaucracy are on the same policy page....well here we are

 

[MurphyVol]

“ExxonMobil (XOM) last month announced first quarter profits of $8.8 billion, more than triple the level of a year ago when excluding special items. It also announced a $30 billion share repurchase plan, far more than the $21 billion to $24 billion it expects to spend on all capital investment, including searching for new oil."

Buying back their own stock would be a strange decision if you thought the President was going to shut down your industry.

 

[BigOrangeMojo]

“ExxonMobil (XOM) last month announced first quarter profits of $8.8 billion, more than triple the level of a year ago when excluding special items. It also announced a $30 billion share repurchase plan, far more than the $21 billion to $24 billion it expects to spend on all capital investment, including searching for new oil."

You know they lost 22.4 billion in 2020 when oil prices fell...

 

[McDad]

You know they lost 22.4 billion in 2020 when oil prices fell...

Obviously that doesn't matter.

 

[Orangeslice13]

 

[McDad]

Add to the list of things the Biden Admin can do but isn't doing:
Push for the IRS to increase the mileage deduction from 58.5 cents a mile.

Wonder why they aren't??? Democrats are for the "little guy", right?

 

[landscapingvol]

I live three miles from work as the crow flies, ten by the roads. It may be cheaper for me to just build a hot air balloon and coast over the mountain at this point. I'm full of hot air, that would save on the fuel.

You are likely to fart in the process, too risky for methane.

 

[85SugarVol]

My reply points out what the interest of those companies are, and it is not increasing supply. So, again, I’ll say you’re missing 50% of the equation.

Why would Oil invest in Supply? The Democrats have been promising their destruction for years now.

 

[Majors]

It was certainly heavily implied.

“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden

"God willing" His handlers won't like that line.

 

[SpaceCoastVol]

I’m pious for pointing out the naivety of excusing the oil industry from holding us hostage again, and again, and again? I’m tired of them, they have shaped the landscape of politics, economics, anthropology, and ecology for at least 80 years. Oil has had it’s day in the sun, good riddance. The sooner, the better.

LOL

 

[hog88]

Add to the list of things the Biden Admin can do but isn't doing:
Push for the IRS to increase the mileage deduction from 58.5 cents a mile.

Wonder why they aren't??? Democrats are for the "little guy", right?

that's what they claim.

 

[hog88]

Our fuel bill is up 41% since January.

 

[BigOrangeMojo]

that's what they claim.

I think we saw what the Biden Administration thought of small business when they eliminated the COVID Employee Retention Credit for small businesses early...

 

[hog88]

I think we saw what the Biden Administration thought of small business when they eliminated the COVID Employee Retention Credit for small businesses early...

We knew well before then what the Biden administration thought of small businesses.

 

[BigOrangeMojo]

Our fuel bill is up 41% since January.

Valero stock has tripled since purchase date in October 2020 and XOM and CVX almost have...

 

[BigOrangeMojo]

We knew well before then what the Biden administration thought of small businesses.

I know but that one hit close to home...(spouse does that for a living).

 

[hog88]

I know but that one hit close to home...(spouse does that for a living).

The group my wife works with is buying up low income apartment complexes as fast as they can, they know what's coming.

 

[BigOrangeMojo]

The group my wife works with is buying up low income apartment complexes as fast as they can, they know what's coming.

She started her small business in January. She has filed 67 refund claims to date for small businesses. The IRS has paid 8 so far.

 

[hog88]

She started her small business in January. She has filed 67 refund claims to date for small businesses. The IRS has paid 8 so far.

I'm surprised they have paid that many.

 

[DancingOutlaw]

Add to the list of things the Biden Admin can do but isn't doing:
Push for the IRS to increase the mileage deduction from 58.5 cents a mile.

Wonder why they aren't??? Democrats are for the "little guy", right?

We've had that same question at work, we have employees who want to know if we're changing the reimbursement rate. Basically what they've been told is rent a car instead, which doesn't really work for employees in very rural areas that have to drive a long way to get anywhere.

 

[norrislakevol]

It was certainly heavily implied.

“[When] it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden

Annnnd China will be much, much richer. Well worth it!!!

 

[0nelilreb]

I’m pious for pointing out the naivety of excusing the oil industry from holding us hostage again, and again, and again? I’m tired of them, they have shaped the landscape of politics, economics, anthropology, and ecology for at least 80 years. Oil has had it’s day in the sun, good riddance. The sooner, the better.

Umm what’s your next energy source that you are going to replace it with ? Not nuclear , not NG, you can’t pull enough solar or wind to power our needs and not be hypocritical about environmental concerns because wind mills blades can’t be recycled , solar panel materials and batteries are worse than fossil fuels ….so what’s the plan ?

 

[theFallGuy]

gas is up to $4.49 here this morning

 

[hog88]

Umm what’s your next energy source that you are going to replace it with ? Not nuclear , not NG, you can’t pull enough solar or wind to power our needs and not be hypocritical about environmental concerns because wind mills blades can’t be recycled , solar panel materials and batteries are worse than fossil fuels ….so what’s the plan ?

We can all move into the cities and use electric mass transportation. Where the food will come from?