Gas prices $$
#341
Charter Member # 55
Charter Member
Dreaming is for those that facts hurt their head. My statement is true, and has been true for decades. Problem with most trumpers is all the same; you see something that has nothing to do with trump, but he takes credit for it(or you give him credit for) and you guys are afraid (for good reason) to fact check? (It's called Cognitive Dissonance) My point is proven below, but if you have something besides "feel facts" in your assessment, I'm all ears? "While it’s common for presidents to be credited when gasoline prices are low and blamed when they are high, presidents don’t actually have much effect on the prices. The policies they set can have some impact, as we’ve written before. But the U.S. Energy Information Administration has explained that more than half of the retail cost of gasoline is determined by the price of crude oil, and that price is driven, largely, by supply and demand.
The issue of supply and demand is why prices at the pump have been low in 2020. Due to the outbreak of the novel coronavirus, global oil demand dropped by 5.6 million barrels per day in the first quarter of the year, compared to the previous year, according to the International Energy Agency.
With a steep decline in road traffic, “[g]asoline was the fuel with the largest absolute decline in demand related to Covid‑19 containment measures,” according to an April report from the IEA.
Similarly, the most recent weekly report from the EIA, the U.S. agency, said, “Efforts to mitigate COVID-19’s spread led to a collapse in global petroleum product demand.” Although global demand has recovered “somewhat,” it said, demand is still lagging what it was in 2019 and “[f]uture demand for petroleum products remains highly uncertain as COVID-19 infection rates are rising in a number of countries.”
Cool, huh?
The issue of supply and demand is why prices at the pump have been low in 2020. Due to the outbreak of the novel coronavirus, global oil demand dropped by 5.6 million barrels per day in the first quarter of the year, compared to the previous year, according to the International Energy Agency.
With a steep decline in road traffic, “[g]asoline was the fuel with the largest absolute decline in demand related to Covid‑19 containment measures,” according to an April report from the IEA.
Similarly, the most recent weekly report from the EIA, the U.S. agency, said, “Efforts to mitigate COVID-19’s spread led to a collapse in global petroleum product demand.” Although global demand has recovered “somewhat,” it said, demand is still lagging what it was in 2019 and “[f]uture demand for petroleum products remains highly uncertain as COVID-19 infection rates are rising in a number of countries.”
Cool, huh?
Last edited by Griff; 03-30-2021 at 01:37 AM.
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#343
Registered
Oil production is down 1 million barrels per day in the US from 4-6 months ago, which is nearly a 10% decrease. Biden banned any new leases for oil or natural gas drilling on federal land and waters. Reduced production along with an increase in demand has caused the price of oil go up. Then speculators who see the trend continuing, buy futures at higher at higher rates and also drive up prices. Its almost a certainty that if Biden opened up fed leases, prices would drop.
FYI: The major peaks occurred in December 1979 at $127.81, October 1990 at $67.03, and June 2008 at $148.93 (all inflation-adjusted to 2020 dollars). Another interesting item to note is that the inflation-adjusted average price has been increasing. The average for the entire period from 1946 to present is $45.73 but the average since 1980 is $57.01 and the average since 2000 is $65.37. This may be the result of increased extraction costs as it becomes harder to find and requires much greater technology to get to it.
If you notice, June 2008 was under "W", an oil and gas Republican, before the election and before obama took office . It was then as it still is now; has almost nothing to do with Presidents and policies. Drilling on Federal land been very limited and hasn't been an issue UNTIL trump hoped to gather donations from the oil and gas industry so he gave them Carte Blanche to rampage our national lands. If drilling on Federal Land, much of which has been protected for 200 years seems ok, that's short-sighted at best. I guess if trump said it was ok to set up a drilling rig in your backyard, you'd LOVE IT!!! Resources must be managed over a time continuum. Sensibly. Logically.
Let me pose another idea and see if it makes sense. There is a finite amount of oil left in the ground. (44-47 years is the estimate) Middle east (some our enemies, yes) are pumping it out as fast as they can! (reason for the negative barrel prices a year ago, agree?) OUR best "reserve" is in the ground. Strategic (long term) thinking would be.....let the Middle East go dry, which also supplies much of our enemies around the world, and we sit on the last remaining reserve. A thought! I'll leave you guys to it!
#344
Registered
Funny part of this tread is you guys really think you know it all ! All our military does is protect oil for many years fact! Question you think they can increase or decline production? Sit down I said sit down supply demand your correct almost
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#346
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#347
Gold Member
Gold Member
This thread isnt divisive enough....
So, whaddya ya'll think about the Geoge Floyd trial. Should we start another mud-slinging thread for that?
So, whaddya ya'll think about the Geoge Floyd trial. Should we start another mud-slinging thread for that?
#348
Registered
iTrader: (1)
I don’t like those that kneel at inappropriate times.
Mr Floyd held a gun at a pregnant woman’s belly during a home invasion.
Should have been in jail for a long time because of that.
He is no hero not an idol.
Those two incidents are not related.
Oh, and Biden sucks. Brutally, actually. Lol.
Mr Floyd held a gun at a pregnant woman’s belly during a home invasion.
Should have been in jail for a long time because of that.
He is no hero not an idol.
Those two incidents are not related.
Oh, and Biden sucks. Brutally, actually. Lol.
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#349
Registered
OK one more, how about super gun control Sleepy Joe and Hunters' gun thrown in trash can. Is it no longer a felony to falsify information on a gun app/back ground check? Amazing how that all went away. Just a little pot stiring.
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#350
Registered
iTrader: (1)
Democrats:
Dumb Old people that believe everything they hear on the news cycle.
Rioters, looters, thugs.
Intercity welfare recipients.
Illegals
Hollywood idiots.
College students who haven`t hit the real world yet.
Union folks who shoot themselves in the foot
Big Tech
Hippies, artists, weirdos, trans, gay, etc etc
Failures in life who need the government to take care of them
Folks who hate guns
BLM, Antifa, Jesse Jackson and the likes of those race baiters.
Enviromentalists
Folks who think Capitalism should be abolished.
Socialists
Communists.
Sail boaters.
Prius owners.
Kneelers during the national anthem.
Flag burners.
If you`re a democrat those are your people, that`s who you support and vote for.
Republicans:
Boat owners,
Business owners
Millitary
Gun owners
Middle class
Hard working folks.
Those are my people !!
Dumb Old people that believe everything they hear on the news cycle.
Rioters, looters, thugs.
Intercity welfare recipients.
Illegals
Hollywood idiots.
College students who haven`t hit the real world yet.
Union folks who shoot themselves in the foot
Big Tech
Hippies, artists, weirdos, trans, gay, etc etc
Failures in life who need the government to take care of them
Folks who hate guns
BLM, Antifa, Jesse Jackson and the likes of those race baiters.
Enviromentalists
Folks who think Capitalism should be abolished.
Socialists
Communists.
Sail boaters.
Prius owners.
Kneelers during the national anthem.
Flag burners.
If you`re a democrat those are your people, that`s who you support and vote for.
Republicans:
Boat owners,
Business owners
Millitary
Gun owners
Middle class
Hard working folks.
Those are my people !!
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