$125/barrel and rising.

[Jim in CT]

Originally Posted by Pete F.

So, how does that explain the larger price increases in Ireland?
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i don’t know. but i know that gas costs more in CT than most other states, and our stupid taxes don’t explain it all. i don’t know everything about this business, i dont know much about this business.

i’m not sure higher prices are always better for huge oil
companies. At some point people
cut back on usage to save money.

I have an F-150 that i love to drive. When gas is over $3.75 i dont drive it unless i have no choice. I’ll work from home more instead of driving 20 miles to the office.

higher prices doesn’t always mean more revenue. Because of price and it’s effect on supply and demand.
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[scottw]

Originally Posted by Pete F.

So, how does that explain the larger price increases in Ireland?
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and Istanbul....I mean...Constantinople.....

[wdmso]

oil price is set by the Organization of Petroleum Exporting Countries, a permanent intergovernmental oil organisation, created in 1960 by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.
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[Pete F.]

The trucker convoy is currently driving around in circles fighting something that doesn't exist and will be the ones complaining and blaming Biden for the price of fuel.
Because as is typical for Trumplicans they find a destructive non-solution to an imaginary problem for the sole purpose of inflaming their base as it grows more and more radicalized.
And when it hurts the economy, security or humanity, they'll blame the libs

For some people the short term goal of "getting rich" is more important than anything else.

[Jim in CT]

Originally Posted by Pete F.

The trucker convoy is currently driving around in circles fighting something that doesn't exist and will be the ones complaining and blaming Biden for the price of fuel.
Because as is typical for Trumplicans they find a destructive non-solution to an imaginary problem for the sole purpose of inflaming their base as it grows more and more radicalized.
And when it hurts the economy, security or humanity, they'll blame the libs

For some people the short term goal of "getting rich" is more important than anything else.

it’s not about getting rich. it’s about living your life - heating your home, driving to work and to your kids activities.

Fossil fuels caused the industrial revolution, and are helping third world countries become first world
countries. standard of living goes up, life expectancies increase, etc…

i’ve said here 50 times that fuel costs were going up no matter who won, much of it is t Biden’s fault.

The only absolutist fanatics I see here are the lefties, who refuse to concede Biden played any role whatsoever.
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[Pete F.]

The national average for a gallon of gas is $4.17. A gallon of Starbucks coffee costs $16.80. Just saying
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[Jim in CT]

Originally Posted by Pete F.

The national average for a gallon of gas is $4.17. A gallon of Starbucks coffee costs $16.80. Just saying
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that’s brilliant. starbucks coffee is no less vital to everyday life, than oil.

oil impacts almost everything.

Pete, you claimed here many times that Trump is responsible for every American covid death. Yet Biden has zero culpability for the oil surge.
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[Pete F.]

Originally Posted by Jim in CT

that’s brilliant. starbucks coffee is no less vital to everyday life, than oil.

oil impacts almost everything.

Pete, you claimed here many times that Trump is responsible for every American covid death. Yet Biden has zero culpability for the oil surge.
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It’s all Trump, all the time with you
Sad
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[Jim in CT]

Originally Posted by Pete F.

It’s all Trump, all the time with you
Sad
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you’re criticizing others for bringing up trump.

that’s a good one

and oil prices are no big deal, because starbucks coffee costs more per gallon. can’t compete with that logic.
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[Pete F.]

Originally Posted by Jim in CT

you’re criticizing others for bringing up trump.

that’s a good one

and oil prices are no big deal, because starbucks coffee costs more per gallon. can’t compete with that logic.
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You qualify as the penultimate Trump defender/non supporter
Some rational people would question how that works when you claim to be “ I’m his most honest critic. My disdain for him is genuine,not based purely on politics.

I cannot stand him and hope he goes away forever.”

Clown
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[wdmso]

It odd Jim brings up Green energy indirectly blaming the current gas issue on them

Then I see this lovely story

Rep. Bill Johnson Republican to Newsmax: Russia Paying Money to US Environmentalists

There is evidence that Russia has channeled money to American environmental groups fighting against the use of fossil fuels,

Biden, he added, has "made it very clear" that he's "going to destroy the oil industry"

"They want more money toward green alternative energies than they do for the reliable grid sustaining fossil fuel energy sources like oil and gas," Johnson further commented.

Guess he missed this Coal, oil, and natural gas received $5.9 trillion in subsidies in 2020

These people have no shame they just make crap up


little FYI

For oil and gas leases on federal land , rent is owed until the lease has production of oil or gas in paying quantities. This rent is at a rate of $1.50 per acre for the first five years and $2.00 per acre for years six to ten.Apr 27, 2021

if the hit oil they pay the Government 12.5% royalty

Here is the Joke! it hasn't been changed since 1920

[Jim in CT]

Originally Posted by wdmso

It odd Jim brings up Green energy indirectly blaming the current gas issue on them

I did? You and Pete are sharing the same tin foil hat...

I blamed soaring prices on:

(1) increased demand after covid lightened up
(2) perception that Biden would be less oil-friendly than Trump
(3) Putin invading Ukraine (which is partly Bidens fault in my opinion)

[wdmso]

Originally Posted by Jim in CT

I did? You and Pete are sharing the same tin foil hat...

I blamed soaring prices on:

(1) increased demand after covid lightened up
(2) perception that Biden would be less oil-friendly than Trump
(3) Putin invading Ukraine (which is partly Bidens fault in my opinion)

I Took yours comments
On Pete Buttigieg claims EV transportation will bring ‘cost savings’ to Americans , as indirectly blaming the current gas issue . Incorrectly and I apologize.

unfortunately Many on the right have no issues pushing that Narrative

[Jim in CT]

Originally Posted by wdmso

I Took yours comments
On Pete Buttigieg claims EV transportation will bring ‘cost savings’ to Americans , as indirectly blaming the current gas issue . Incorrectly and I apologize.

unfortunately Many on the right have no issues pushing that Narrative

No worries, I've misinterpreted many many posts!

I brought up Buttigieg NOT as causing gas price increases, but as being stupid for saying the solution is for everyone to buy electric cars.

Many people can't afford electric cars.

Many people who can afford them, aren't good candidates to buy them, for many reasons (size, range, etc)

If everyone could afford them and could live with them, there aren't enough available.

If there were enough available, there aren't enough charging stations.

If there were enough charging stations, there isn't enough electricity.

Other than that, Pete's ideas make sense.

[wdmso]

Trump: Biden Letting 'Radical Climate Extremists' Run US

the new rallying Cry from Conservatives Green energy is to Blame for the increase in Gas prices

[nightfighter]

Originally Posted by Jim in CT

No worries, I've misinterpreted many many posts!

I brought up Buttigieg NOT as causing gas price increases, but as being stupid for saying the solution is for everyone to buy electric cars.

Many people can't afford electric cars.

Many people who can afford them, aren't good candidates to buy them, for many reasons (size, range, etc)

If everyone could afford them and could live with them, there aren't enough available.

If there were enough available, there aren't enough charging stations.

If there were enough charging stations, there isn't enough electricity.

Other than that, Pete's ideas make sense.

The technology is just not there for it to be an economical reality. China is supporting the EV development and is likely ten years ahead of the American programs. 60 Minutes did an excellent piece on this in 2019. You can see it online if you have Paramount.
It's coming, but not a reality in today's world for the average family, in any country, excluding China because I don't know. In other words, we depend on fossil fuel for the time being. So time for Biden to pull a 180 for the good of the country.

[wdmso]

Another FYI

According to the BLM, there were 63,000 onshore crude oil and natural gas wells on federal lands. The production from these wells accounted for 5 percent of U.S. crude oil production

Currently, there are 100,000 “producible and service” well bores located on federal oil and gas leases. That seems like a huge number, but it pales in comparison to the nearly 1 million oil and gas wells currently producing across the U.S., 900,000 of which are on state and private lands.Mar 18, 2021

I dont think a federal pause on leases is hurting them .. But if you listen to them the sky is falling

[Pete F.]

Oil prices are now down an amazing $15 / barrel today alone. Futures prices for the fall now < $90. So I expect the increases at the pump will be rolled right back. Right? Umm ... right?
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[Jim in CT]

Kamala Harris said today that current gas prices "are the price we pay for democracy,"

That'll go over well.

SHE is unbelievable, god's gift to the GOP.

We never had a democracy until gas prices were this high?

[Pete F.]

There are two important things to remember about how oil and gas production work: The government doesn’t place any production limits on oil and gas companies, and there’s no such thing as an immediate production increase. Oil and gas companies decide, all by themselves, whether or not to increase production, and new drilling now generally translates to oil and gas on the market in six to 12 months. A new fracking well takes six to eight months to produce oil, for example. Are there idle wells that could be productive again in less time? Sure. Are there some that were shut down during the pandemic that can be brought back online? Yep. But then we get to the real reasons oil companies aren’t drilling: It’s not government intervention, it’s a combination of money, labor, and materials (shocking, I know).

The big fracking companies — Devon, Pioneer, and Continental — burned by multiple boom and bust cycles over the years, pledged in February not to increase production until 2023. “Whether it’s $150 oil, $200 oil, or $100 oil, we’re not going to change our growth plans,” Pioneer CEO Scott Sheffield said during a Bloomberg Television interview. “If the president wants us to grow, I just don’t think the industry can grow anyway.”

In ExxonMobil’s February earnings call, Woods said the company’s focus remains on price per barrel over volume. “One of the primary objectives we’ve had in looking at the portfolio is less about volume and volume targets and more about the quality and profitability of the barrels that we’re producing.” he said. “That’s been the focus. And as we move forward, we’ll continue — you’ll continue to see the quality of the barrels or profitability of the barrels increase.”

But it’s Biden’s fault
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[Jim in CT]

Originally Posted by Pete F.

There are two important things to remember about how oil and gas production work: The government doesn’t place any production limits on oil and gas companies, and there’s no such thing as an immediate production increase. Oil and gas companies decide, all by themselves, whether or not to increase production, and new drilling now generally translates to oil and gas on the market in six to 12 months. A new fracking well takes six to eight months to produce oil, for example. Are there idle wells that could be productive again in less time? Sure. Are there some that were shut down during the pandemic that can be brought back online? Yep. But then we get to the real reasons oil companies aren’t drilling: It’s not government intervention, it’s a combination of money, labor, and materials (shocking, I know).

The big fracking companies — Devon, Pioneer, and Continental — burned by multiple boom and bust cycles over the years, pledged in February not to increase production until 2023. “Whether it’s $150 oil, $200 oil, or $100 oil, we’re not going to change our growth plans,” Pioneer CEO Scott Sheffield said during a Bloomberg Television interview. “If the president wants us to grow, I just don’t think the industry can grow anyway.”

In ExxonMobil’s February earnings call, Woods said the company’s focus remains on price per barrel over volume. “One of the primary objectives we’ve had in looking at the portfolio is less about volume and volume targets and more about the quality and profitability of the barrels that we’re producing.” he said. “That’s been the focus. And as we move forward, we’ll continue — you’ll continue to see the quality of the barrels or profitability of the barrels increase.”

But it’s Biden’s fault
Posted from my iPhone/Mobile device

"The government doesn’t place any production limits on oil and gas companies"

The hell is doesn't. On federal lands and offshore, you have to get a permit. Biden put in place a moratorium on all new permits for federal lands, which necessarily means that production on those lands will be precisely zero.

Much of the pricing is supply speculation. When Biden killed the Keystone pipeline and refused to grant any new leases, you didn't need to be Stephen Hawking to conclude that he was not going to be a pro-fossil-fuel guy.

"there’s no such thing as an immediate production increase"

True.

"Oil and gas companies decide, all by themselves, whether or not to increase production"

Again, if they are denied permits on federal land, they can't decide to generate oil on that land.

"But it’s Biden’s fault"

Partly his fault, partly not his fault.

Pete, you blamed Trump for covid deaths on his watch, which he had nothing to do with. SO it's OK if yuo blame a sitting president for everything that happens on his watch, even things he doesn't directly control?

Much of the skyrocketing price has nothing to do with Biden. But it happened on his watch.

The entire left blamed Bush for the subprime mortgage crisis, that helped Obama beat McCain. Bush didn't do anything to contribute to that crisis, but you all blamed him for it. That's how it goes. Similarly, Biden will be blamed for inflation and oil prices.

The left had zero reservations about blaming Bush and Trump for things they didn't cause. What's good for the goose...

It's one crisis after another, one failure after another.

When the fed raises interest rates (which they waited way too long to do), that could cause a recession.

[Pete F.]

Originally Posted by Jim in CT

"The government doesn’t place any production limits on oil and gas companies"

The hell is doesn't. On federal lands and offshore, you have to get a permit. Biden put in place a moratorium on all new permits for federal lands, which necessarily means that production on those lands will be precisely zero.

Much of the pricing is supply speculation. When Biden killed the Keystone pipeline and refused to grant any new leases, you didn't need to be Stephen Hawking to conclude that he was not going to be a pro-fossil-fuel guy.

"there’s no such thing as an immediate production increase"

True.

"Oil and gas companies decide, all by themselves, whether or not to increase production"

Again, if they are denied permits on federal land, they can't decide to generate oil on that land.

"But it’s Biden’s fault"

Partly his fault, partly not his fault.

Pete, you blamed Trump for covid deaths on his watch, which he had nothing to do with. SO it's OK if yuo blame a sitting president for everything that happens on his watch, even things he doesn't directly control?

Much of the skyrocketing price has nothing to do with Biden. But it happened on his watch.

The entire left blamed Bush for the subprime mortgage crisis, that helped Obama beat McCain. Bush didn't do anything to contribute to that crisis, but you all blamed him for it. That's how it goes. Similarly, Biden will be blamed for inflation and oil prices.

The left had zero reservations about blaming Bush and Trump for things they didn't cause. What's good for the goose...

It's one crisis after another, one failure after another.

When the fed raises interest rates (which they waited way too long to do), that could cause a recession.

Now you think that Biden runs the FED?

So you are claiming Biden controls Devon, Pioneer, Continental and Exxon? Or just that he should? Or are you just playing victim as you were taught by the Orange Man you don't really like, but will consistently defend.

What the producers are saying is that they don't care what the price is as long as it is high, and they will control it by not increasing production.

The big fracking companies — Devon, Pioneer, and Continental — burned by multiple boom and bust cycles over the years, pledged in February not to increase production until 2023. “Whether it’s $150 oil, $200 oil, or $100 oil, we’re not going to change our growth plans,” Pioneer CEO Scott Sheffield said during a Bloomberg Television interview. “If the president wants us to grow, I just don’t think the industry can grow anyway.”

In ExxonMobil’s February earnings call, Woods said the company’s focus remains on price per barrel over volume. “One of the primary objectives we’ve had in looking at the portfolio is less about volume and volume targets and more about the quality and profitability of the barrels that we’re producing.” he said. “That’s been the focus. And as we move forward, we’ll continue — you’ll continue to see the quality of the barrels or profitability of the barrels increase.”

[nightfighter]

Not reading any of the above. (Piss and moan, same players, same arguments and personal attacks)

But going to share this to further explain the sticker shock at the supermarket, gas pump, lumberyard, any retail environment that needs truckers to get what they need. This is what it costs to fill up that 18 wheeler....

[Jim in CT]

Originally Posted by Pete F.

Now you think that Biden runs the FED?

So you are claiming Biden controls Devon, Pioneer, Continental and Exxon? Or just that he should? Or are you just playing victim as you were taught by the Orange Man you don't really like, but will consistently defend.

What the producers are saying is that they don't care what the price is as long as it is high, and they will control it by not increasing production.

The big fracking companies — Devon, Pioneer, and Continental — burned by multiple boom and bust cycles over the years, pledged in February not to increase production until 2023. “Whether it’s $150 oil, $200 oil, or $100 oil, we’re not going to change our growth plans,” Pioneer CEO Scott Sheffield said during a Bloomberg Television interview. “If the president wants us to grow, I just don’t think the industry can grow anyway.”

In ExxonMobil’s February earnings call, Woods said the company’s focus remains on price per barrel over volume. “One of the primary objectives we’ve had in looking at the portfolio is less about volume and volume targets and more about the quality and profitability of the barrels that we’re producing.” he said. “That’s been the focus. And as we move forward, we’ll continue — you’ll continue to see the quality of the barrels or profitability of the barrels increase.”

no, i know biden doesn’t control
the fed. it they have to start raising interest rates soon, which will
slow the economy, only question is by how much. Not Bidens fault, but one more crisis on his watch.

Biden is saying Putin caused the inflation. That’s a. lie, we had massive inflation before we started paying attention to ukraine. america isn’t falling for that.
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[Pete F.]

If you want to get gas for under $3 you might consider Taco Bell.
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[wdmso]

Biden is saying Putin caused the inflation.

Jim only Republicans are pushing this lie and they are the only ones unable to honestly to admit Putins aggression have contributed to inflation in the price of oil

Republicans did the same thing with the masks and the vaccine

They made suggestions that democrats said masks and the vaccine prevented Covid . Which also never happened

But for Republicans to suggest the oil markets increases are not Putins responsibility is just more dishonesty

Oil prices have steadily risen for more than two months as the threat of Russian military action became apparent, driving up oil prices more than 40 percent from their early-December lows

Consider that since the Russian invasion, the average price of regular gas in the United States had increased 17 percent through Wednesday. It was up 23 percent For the year

So Biden’s responsible for a 6% increase is gas ! and Putin is responsible For 17% increase.

Again only if you honest which the GOP is not . they know their voters to well. truth and facts don’t work with them.
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[scottw]

Originally Posted by wdmso

Biden is saying Putin caused the inflation.

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Joe Biden on Twitter:
Jun 4, 2020 — "It's hard to believe this has to be said, but unlike this president, I'll do my job and take responsibility. I won't blame others."

there was inflation pre-Putin aggression...democraps dismissed it as transitory...it's just their latest excuse

[wdmso]

Originally Posted by scottw

Joe Biden on Twitter:
Jun 4, 2020 — "It's hard to believe this has to be said, but unlike this president, I'll do my job and take responsibility. I won't blame others."

Top bad you can’t accept facts

Are you suggesting Putin’s invasion hasn’t cause oil to sky rocket

And of course placing blame on putin for the current spike in gas prices is blaming others.

What’s next it’s Ukraines fault putin invaded?
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[wdmso]

Originally Posted by scottw

Joe Biden on Twitter:
Jun 4, 2020 — "It's hard to believe this has to be said, but unlike this president, I'll do my job and take responsibility. I won't blame others."

there was inflation pre-Putin aggression...democraps dismissed it as transitory...it's just their latest excuse

And Covid was going to disappear

But that never happened and didn’t seem to upset you..

But bring wrong on transitory inflation .is Upsetting for you .
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[wdmso]

Petrol prices UK: Fuel hits ‘unbelievable’ record high, as RAC says full tank now costs almost £88

That's 114.74 USD and for a 12 gal tank


Northern Ireland fuel and heating oil prices soar – weekly increases revealed
Weekly increase of 500L home heating oil £227
Diesel price in Armagh increases by 22p per litre in seven days
Petrol up in Derry by 13p per litre in a week


Petrol Prices Have Hit A Record-Breaking $3 Per Litre In Australia And Like, What Is Happening To The World
"It'll cost me $98 for a full tank, [compared to] peak-COVID, when a full tank was just $40."


But Republicans what to suggest to Americans its only happening in The USA and its Biden's Fault