National Average Price of Gasoline Hits an All-Time High

#2,454
#2,454
MurphyVol said:
Oil looking very similar to the 2008 action.. I'd bet someone a fine steak dinner that I can buy 87 unleaded in Murphy NC under $3 before spring 2023
Click to expand...
Not necessarily sure. Biden's idiotic dialogue against big oil might have downwardly driven the futures market for an extended period. What people don't understand is that negative rhetoric from POTUS can affect markets adversely, regardless of standard supply/demand indicators
 
#2,456
#2,456
TRUEFANVol said:
Not necessarily sure. Biden's idiotic dialogue against big oil might have downwardly driven the futures market for an extended period. What people don't understand is that negative rhetoric from POTUS can affect markets adversely, regardless of standard supply/demand indicators
Click to expand...

We'll see, more rigs coming online every month in the face of a recession. When all my liberal cohorts were convinced W was "helping his oil buddies" I thought there were giving him way too much credit. People think these guys can move energy markets?

Switchgrass!
1655950436106.png

???
 
  • Like
Reactions: InVOLuntary, DrRosenRosen, NorthDallas40 and 2 others
#2,457
#2,457
TRUEFANVol said:
Not necessarily sure. Biden's idiotic dialogue against big oil might have downwardly driven the futures market for an extended period. What people don't understand is that negative rhetoric from POTUS can affect markets adversely, regardless of standard supply/demand indicators
Click to expand...
Is this the equivalent of mean tweets?
 
#2,462
#2,462
MurphyVol said:
We'll see, more rigs coming online every month in the face of a recession. When all my liberal cohorts were convinced W was "helping his oil buddies" I thought there were giving him way too much credit. People think these guys can move energy markets?

Switchgrass!
View attachment 466288

???
Click to expand...

There hasn't been a President in my lifetime of 60 years that has spoke so negatively towards big oil as often as Biden. As I stated, supply/demand numbers aren't always immediate catalysts when the market is set by speculative factors. It's always a lagging effect anyway. The lag can be prolonged artificially by a mixed message from POTUS
 
Last edited:
  • Like
Reactions: Orangeburst and AM64
#2,464
#2,464
TRUEFANVol said:
There hasn't been a President in my lifetime of 60 years that has spoke so negatively towards big oil as often as Biden. As I stated, supply/demand numbers aren't always immediate catalysts when the market is set by speculative factors. It's always a lagging effect anyway. The lag can be prolonged artificially by a mixed message for POTUS
Click to expand...

Maybe, but if I'm Chevron I'm not basing a lot of long term plans around a guy that's gone in 30 months.

W spoke very positively of oil and would have granted permits to drill on the Moon and it still went to all time highs.

Right now the issue is the oil industry laid off 200k during the pandemic and only 100k came back. It's taken them a lot longer to get existing rigs back up but is slowly moving in the right direction.
 
  • Like
Reactions: AM64, volfanhill and TRUEFANVol
#2,466
#2,466
TRUEFANVol said:
Not necessarily sure. Biden's idiotic dialogue against big oil might have downwardly driven the futures market for an extended period. What people don't understand is that negative rhetoric from POTUS can affect markets adversely, regardless of standard supply/demand indicators
Click to expand...

Is it only rhetoric or actual action? I mean his son is all eat up in energy management in the very place the war is happening that Biden gets to blame.
 
  • Like
Reactions: TRUEFANVol
#2,467
#2,467
MurphyVol said:
Maybe, but if I'm Chevron I'm not basing a lot of long term plans around a guy that's gone in 30 months.

W spoke very positively of oil and would have granted permits to drill on the Moon and it still went to all time highs.

Right now the issue is the oil industry laid off 200k during the pandemic and only 100k came back. It's taken them a lot longer to get existing rigs back up but is slowly moving in the right direction.
Click to expand...
You're last paragraph is spot on, but big oil doesn't directly set gas prices at the pump. Their barrel production and refining capacity only set the stage. That's factually why it has a lagging effect. Sometimes, administrative policy positions can trigger long term outlook
 
  • Like
Reactions: AM64
#2,468
#2,468
TRUEFANVol said:
You're last paragraph is spot on, but big oil doesn't directly set gas prices at the pump. Their barrel production and refining capacity only set the stage. That's factually why it has a lagging effect. Sometimes, administrative policy positions can trigger long term outlook
Click to expand...

This is the debate about can a Presidential policy affect this or that..Absolutely long term, You choke the spigot it is not some instantaneous reopening when investments. logistics, and capability is concerned.
 
  • Like
Reactions: AM64 and TRUEFANVol
#2,469
#2,469
MurphyVol said:
Oil looking very similar to the 2008 action.. I'd bet someone a fine steak dinner that I can buy 87 unleaded in Murphy NC under $3 before spring 2023
Click to expand...

I’d take the bet merely because I’d be happy to eat the cost of your steak for sub $3 gas.

Trying to decide between a full size truck and a small truck to purchase. I’d go full size right now if I thought gas would be under 3 in that timeframe. Probably will no matter what, I’m full blooded Merican.
 
  • Like
Reactions: AM64, 85SugarVol and UT_Dutchman
#2,470
#2,470
Orangeburst said:
Is it only rhetoric or actual action? I mean his son is all eat up in energy management in the very place the war is happening that Biden gets to blame.
Click to expand...
Biden's wayward son's activities haven't got a damn thing to do with prices at the pump right now. Damn, that's a Q type connection. ****, maybe it's the deep state, but I'm not sure of their location
 
#2,471
#2,471
TRUEFANVol said:
Biden's wayward son's activities haven't got a damn thing to do with prices at the pump right now. Damn, that's a Q type connection. ****, maybe it's the deep state, but I'm not sure of their location
Click to expand...

If you cannot see the irony..then that is on you and avoids the question of Joe's rhetoric and actions against his son's interest.
 
#2,473
#2,473
Joe says he hates oil and said he would end it as an existential threat to the Planet, yet the smartest man he knows is deeply involved in oil. Does he admonish his son?
You just cannot square it.
 
  • Like
Reactions: AM64, RavinDave and StarRaider
New posts
You must log in or register to reply here.

VN Store



Back
Top