Gregg Johns
Member
hi, a lot of great info here! just looking for a reality check ! crazy!
Last edited:
gas prices..
- Thread starter Gregg Johns
- Start date
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shabtek
Well-known member
it might be happening
ruffrecords
Well-known member
Do you mean the price of petrol? It is set to hit £2 a litre in the UK. My son was in holiday in France last week and it was 2.20 Euros a litre there.
Cheers
Ian
Cheers
Ian
Majestic12
Well-known member
Petrol was around 2,10 (ish) Euro / liter in Germany. On 1th of june the petrol tax (around 37 cent) was temporarily suspended which dropped the prices to around 1,90 for 24 hours. Now they are above 2 Euro again.... go figure.
The average price where I am is about $4.50/gallon, CA is >$6/gallon,
It is worse for diesel that truckers and farmers need.
JR
It is worse for diesel that truckers and farmers need.
JR
Jeff Goodman2
Active member
- Joined
- Nov 17, 2016
- Messages
- 42
The gas prices in Mendocino Co, CA were approx $10 a gal last week.
scott2000
Well-known member
SIXTYNINER
Well-known member
....All with the "silent" approval of each government ?
and no one who leaves the car in the garage , or drastically limits its use ?
just a way of impoverishing ordinary people ?
and no one who leaves the car in the garage , or drastically limits its use ?
just a way of impoverishing ordinary people ?
For a change somebody else mentions economic principles.
OPEC+ is very alert to preventing long term persistent demand destruction and recently Saudi Arabia announced they would increase output to make up for Russia output shortfalls that are hitting world supply. The real concern is whether they (OPEC+) actually have adequate capacity to fully fuel the world if when we move on beyond COVID and return to pre-COVID GDP growth trends. Shanghai recently reopened and China experienced 8% GDP growth (better than our -1.5% GDP contraction last quarter).
I worry about ESG investment pressure changing big oil industry business practices of expanding new oil reserves. ESG investors reward greening the oil business. Oil prices are expected to continue rising from here, unless the policy changes and that is unlikely in the near term.
JR
- Joined
- Jul 8, 2010
- Messages
- 513
AnalogPackrat
Well-known member
Price is up 67.5% in only 10 months locally. 240% since the inauguration.
pucho812
Well-known member
Gas prices are higher than snoop dog and Willie nelson during a smoke session.
scott2000
Well-known member
"Meanwhile, I don't know about where you live, Jesse, but in my state, the price of gas is so high that it would be cheaper to buy cocaine and just run everywhere."
Senator John Kennedy
He's obviously never done it...
Senator John Kennedy
He's obviously never done it...
He's notorious for his colorful quips.. That one sounds a little more urban than his typical red neckerisms.
JR
Completely self-inflicted.
Deliberate not-winning, and not ending in the near future.
Mike
Deliberate not-winning, and not ending in the near future.
Mike
AnalogPackrat
Well-known member
Let them drive Teslas!
pucho812
Well-known member
I found a place to get gas for under 2 dollars, Taco Bell.
Because of high gas prices I am only mowing my yard once every two weeks, at least that is my excuse.
JR
JR
Phrazemaster
Well-known member
We don't have free markets; we have manipulated markets. Crude oil prices are still lower than they've been in the past, and gas is higher than it's ever been. There is not a 1 - 1 relationship as one would expect. Supply and demand are real economic drivers, but so are corruption and politics.
OPEC+ is a cartel operating in plain sight.
wiki said:
Unfettered oil drilling and Fracking during the Trump administration generated enough excess oil and NG supply in the margin to affect international prices downward. Now we have an anti-energy industry administration that has thwarted the fossil fuel industry, and the expected result is higher prices.
Oil and NG may not be a completely free market but supplies are generally fungible enough that excess US exports could lower prices. Anyone old enough to remember the 70s will recall that government price controls didn't work, supply just dried up. As soon as the price controls were removed and market pricing was allowed to operate we got copious supply at the new higher market prices.
Right now we are also in a hole because the ESG/climate change harpies have discouraged big oil companies from exploring and developing new oil fields.
Putin's invasion of the Ukraine has mainly impacted oil/NG supply since sanctions are the only effective lever available to attempt to get him to behave. It isn't working very well because the EU can't get off the Russian energy teat overnight. However this is reducing supply somewhat raising prices. Future prices will rise even more as EU sanctions kick in, and China reopens Shanghai.
If worried about oil, you don't want to think about the grain embargoed in the Ukraine.
JR
