National Average Price of Gasoline Hits an All-Time High

[allvol123]

If gas was cheap..would Biden take credit?

He currently taking credit for the best economy ever.

 

[BreatheUT]

I was close to empty and put a little less than 18 gallons in the car, medium grade. Over $87 for a midsize sedan.

 

[85SugarVol]

Today I learned that Is the first admin to be unfriendly to the oil industry. Good thing we have all the refinaries under construction from the Trump and Bush(s) administration.

Nah. Democrats have been threatening Oil for decades.

 

[BigOrangeMojo]

It’s not a shortage of getting it out of the ground so much as a refining capacity shortage. Why would refiners expand capacity with the administration promising to end the industry?

And a weaponized EPA that fights every attempt to expand/modernize existing refining facilities...

 

[Orangeburst]

I think not. Otherwise, no employee shortage.

Average wage in US is $53K
Median is I think $44K

Of course depends on location, but probably washes out to these figures.
I have seen some post that Middle America is like $150K...with this data just not true.

 

[Orangeburst]

And a weaponized EPA that fights every attempt to expand/modernize existing refining facilities...

Regulations and lawsuits matter.

 

[hog88]

And a weaponized EPA that fights every attempt to expand/modernize existing refining facilities...

The federal EPA is an enemy of the people.

 

[BigOrangeMojo]

Regulations and lawsuits matter.

The current admin's EPA killed a 10 digit expansion project at refinery in Memphis....

 

[MOOOOONEY]

I was close to empty and put a little less than 18 gallons in the car, medium grade. Over $87 for a midsize sedan.

$85 for 17 gallons of high grade with a .30 cent discount per gallon.

 

[Orangeburst]

The federal EPA is an enemy of the people.

Uhhh are they armed now?

Armed EPA raid in Alaska sheds light on 70 fed agencies with armed divisions

They have guns...you no allow.

I swear the polictization of the bureaucracy is the biggest threat...laws not created by Congress.

 

[BreatheUT]

$85 for 17 gallons of high grade with a .30 cent discount per gallon.

Sounds similar. I paid $4.95. I'm considering moving to low grade.

 

[AM64]

Why do you hate people saving for retirement? Stop hating teachers. Also why are oil companies supposed to act different then any other company? They have one job. It's clearly not what you think it is. Maybe stop discouraging them from profits. Then they might plan long term.

Seems like almost every company has two markets now. The stock market and the market where goods are sold. That old thought about capitalism being about competition leading to the best product at the lowest price in the market where goods are sold is dead. The one where stockholders are sold on a company's profitability is alive and well - Wall St is just Las Vegas East with your retirement as fodder for the plundering. Unless that changes, capitalism has an expiration date, and it's probably shorter than we want to think.

 

[AM64]

Why did gas prices go up again, and why is there no relief in sight?

When COVID-19 struck and world economies closed, demand plunged for oil and gas, so many companies closed their plants. Others were hit by bad weather. Some companies stopped investing in refineries because of uncertainty over how the transition to green energy would affect their business. When Russia invaded Ukraine, more refineries in Russia were taken offline.

Tell me again how the government doesn't have anything to do with gas prices.

This is where the whole investment market fails. It's all about a quick buck rather than long term corporate strategy. It's an absolute killer for any industry that faces high capital costs with long term construction. Two places that are killers for our future are nuclear power and gasoline/diesel refining. Nuclear became unpopular after Three Mile Island with almost no plants finished since then - and older plants being closed down. Petroleum refining is falling into the same category because of government terrorism in the name of environmentalism. Refineries have been closed, some run below original capacity because there's no future in maintaining or upgrading them, and there's speculation that there will never be another refinery built in the US. Nothing destroys an economy faster than high energy cost.

 

[Orangeburst]

Seems like almost every company has two markets now. The stock market and the market where goods are sold. That old thought about capitalism being about competition leading to the best product at the lowest price in the market where goods are sold is dead. The one where stockholders are sold on a company's profitability is alive and well - Wall St is just Las Vegas East with your retirement as fodder for the plundering. Unless that changes, capitalism has an expiration date, and it's probably shorter than we want to think.

Dang...profound.
Cost of personal goods vs national prosperity vs WS speculation vs gov tip scaling .
Not sure what to make of this mess I just posted.

 

[Franklin Pierce]

$6 across Tennessee before Labor Day?

 

[Orangeburst]

This is where the whole investment market fails. It's all about a quick buck rather than long term corporate strategy. It's an absolute killer for any industry that faces high capital costs with long term construction. Two places that are killers for our future are nuclear power and gasoline/diesel refining. Nuclear became unpopular after Three Mile Island with almost no plants finished since then - and older plants being closed down. Petroleum refining is falling into the same category because of government terrorism in the name of environmentalism. Refineries have been closed, some run below original capacity because there's no future in maintaining or upgrading them, and there's speculation that there will never be another refinery built in the US. Nothing destroys an economy faster than high energy cost.

This is becoming frightening..not even being hyperbolic.
Our nation's economy depends on energy from wherever. Otherwise we crash.
This is perfect opportunity for the CC radicals to do something drastic like nationalize the oil industry. There is a playbook if economic Armageddon hits.

 

[appvol]

 

[Electric Orange]

This is becoming frightening..not even being hyperbolic.
Our nation's economy depends on energy from wherever. Otherwise we crash.
This is perfect opportunity for the CC radicals to do something drastic like nationalize the oil industry. There is a playbook if economic Armageddon hits.

You won't have to worry about 1 nation's economy.

 

[StarRaider]

The current admin's EPA killed a 10 digit expansion project at refinery in Memphis....

Valero?

 

[StarRaider]

$6 across Tennessee before Labor Day?

just decided to keep my 20 year old tdi w/ 400k miles ya'll... gets 50 mpg

 

[Rasputin_Vol]

Let me guess. You want to blame Biden because oil companies jacked up prices to increase their profits?

You just admitted it. Oil prices were already high before February 24th because you are right here blaming the oil companies. Whether that is correct or not, you are aware that Putin has nothing to do with the price hike.

Thanks

 

[AM64]

No I get why they're doing it but it doesn't absolve them of responsibility wrt pricing. They have a big hands in the pricing so directing the discussion that way has merit. They're choosing their margins

Capitalists can choose to be economically destructive through greed and opportunism or constructive by steering a course that helps them by helping the long term economy. The fact is that corporate leaders and boards of directors haven't often shown themselves to be good stewards as far as the country's needs and the economy go.

 

[Vol Main]

You just admitted it. Oil prices were already high before February 24th because you are right here blaming the oil companies. Whether that is correct or not, you are aware that Putin has nothing to do with the price hike.

Thanks

Wrong. Oil prices are a product of many factors. Forget about single causation.

 

[clt_tiger]

just decided to keep my 20 year old tdi w/ 400k miles ya'll... gets 50 mpg

I’m with ya…

 

[0nelilreb]

View attachment 462700

I saw an interview where snoop dog says it’s Willy that needs to be on the 89 .