Oil prices down substantially; gas price in your area?

[Rasputin_Vol]

There are a lot of factors. The idiot dumped our strategic reserves to no good end - a gesture to try and save face over his and the dem nonsensical oil policies. IF dem administrations weren't anti oil and provided any assurance at all to oil companies, the oil companies might consider building new or modifying existing refineries to process US produced oil.

True.

That would not eliminate world pricing because of commodities markets, but it would provide a domestically produced supply necessary for our strategic safety. The big "if" on that is whether investment markets would buy into long term projects; that's doubtful;

Not sure what you mean here. If the oil companies have the assurances you mentioned above, then the investors should (should) be there.

and with the dem war on oil, never gonna happen. Our impending downfall is that our entire energy infrastructure depends on long term investments, and investment markets aren't interested in any thing but short term profits.

True

You have a point about sanctions and OPEC taking advantage of things. With Russian oil flooding the oil market, OPEC's position was weakened.

Now what are you talking about here? OPEC+/Russia have been cutting oil production for a year. How is it flooding the market?

The Russian oil boom also made it easy for Pootin to get stupid and decide to put the gang back together ... only the rest of the gang don't want anything to do with Russia again.

Not sure what you are saying or where you are going with this... unless it is just you wanting to troll. But Kazakhstan and Azerbaijan, two of the biggest oil producing former Soviet states, have been working with Russians with no issues.

We helped put it all in place by electing biden and his destabilizing gang of fools, and OPEC is laughing all the way to the bank again - just like they did when gouging the world back in the 70s.

They didn't gouge the world. That was a currency reset and a consequence of the Nixon Gold Shock. Once the USD's tie to gold was cut, it gave the excuse they OPEC nations needed to reset the price against the fiat USD. Also, our policy was to rely on cheaper imports instead of paying higher for reliable domestic production.

 

[AM64]

True.


Not sure what you mean here. If the oil companies have the assurances you mentioned above, then the investors should (should) be there.


True


Now what are you talking about here? OPEC+/Russia have been cutting oil production for a year. How is it flooding the market?


Not sure what you are saying or where you are going with this... unless it is just you wanting to troll. But Kazakhstan and Azerbaijan, two of the biggest oil producing former Soviet states, have been working with Russians with no issues.


They didn't gouge the world. That was a currency reset and a consequence of the Nixon Gold Shock. Once the USD's tie to gold was cut, it gave the excuse they OPEC nations needed to reset the price against the fiat USD. Also, our policy was to rely on cheaper imports instead of paying higher for reliable domestic production.

The comment about plentiful Russian oil on the world market was pre-Ukraine and sanctions. In effect agreeing with you that sanctions on Russia do also impact us, and that the Saudi's and the rest of OPEC got a break from the sanctions. Instead of OPEC being grateful, they chose to screw everybody over.

The investment markets aren't interested in long term projects - and certainly projects that would be considered risky because of conflicting government policy. We're probably seeing the beginning of the collapse of an all EV future. Unfortunately the rush to mandate EVs still hid the fact that the power grid couldn't have delivered, and there was no plan in place to fix it. We are years behind the curve to produce and transmit the power that would have been required. It would have required nuclear plants that aren't even in the conceptual stage at this point. Twenty years out with no assurance that plants will actually be completed and operate won't find funding outside the government.

It's the same with oil refineries. Investors aren't going to commit to years long plant construction or modification to use US produced light, sweet crude when a current fool sitting in the WH plans to shut oil down. To put it mildly where our government is concerned, the inmates are in charge of the asylum.

 

[FLVOL_79]

I'm in Kansas for a few moons...$3+ everywhere.

 

[Rasputin_Vol]

The comment about plentiful Russian oil on the world market was pre-Ukraine and sanctions. In effect agreeing with you that sanctions on Russia do also impact us, and that the Saudi's and the rest of OPEC got a break from the sanctions. Instead of OPEC being grateful, they chose to screw everybody over.

Can you really blame them? Joe Biden has be a bull in a china shop with regards to diplomacy. He is on bad terms with MBS. Bad terms with maduro. Bad terms with Xi. And definitely bad terms with Putin. Now China isn't an oil producer obviously, but they do have the industrial base that we are dependent on. We lecture these other countries, interfere in their internal politics and threaten them with sanctions. Of course, at some point, the worm will turn.

"Commerce with all nations, alliance with none, should be our motto."

Thomas Jefferson

It really shouldn't be this hard. Conduct business, mutually beneficial trade and rebuild our own domestic economy. We do that, and we don't need to be sending troops halfway around the world and/or begging people to up oil production. Plus, diplomacy is far cheaper than war.

The investment markets aren't interested in long term projects - and certainly projects that would be considered risky because of conflicting government policy. We're probably seeing the beginning of the collapse of an all EV future. Unfortunately the rush to mandate EVs still hid the fact that the power grid couldn't have delivered, and there was no plan in place to fix it. We are years behind the curve to produce and transmit the power that would have been required. It would have required nuclear plants that aren't even in the conceptual stage at this point. Twenty years out with no assurance that plants will actually be completed and operate won't find funding outside the government.

Agree

It's the same with oil refineries. Investors aren't going to commit to years long plant construction or modification to use US produced light, sweet crude when a current fool sitting in the WH plans to shut oil down. To put it mildly where our government is concerned, the inmates are in charge of the asylum.

Agree

 

[Velo Vol]

America bad.

 

[AM64]

I'm in Kansas for a few moons...$3+ everywhere.

What part of KS?

 

[Velo Vol]

Oil down 9% in the month since the Hamas attack.

 

[volinbham]

Oil down 9% in the month since the Hamas attack.

wonder what the seasonal drop typically is - is this more than typical/less/same?

 

[LouderVol]

Kemp cutting the gas tax again down here in Georgia. should take 30 cents off. but if its like the last time that will last for a day or two and then the gas stations will increase their prices about 20 cents.