Posted on 11/03/2026 8:09:54 AM PST by cotton1706
$104 as of Friday afternoon
Now around $95
(Excerpt) Read more at google.com ...
Well, sure. Now that the election is over, we’ll see oil, gas & diesel prices plummet “because Democrats were elected.” (If they are...)
In a non-globalistic, BS world where we still made our own stuff it wouldn’t matter. We have our own helium processed at Amarillo, Texas.
One refinery outside of Chicago went down a few weeks ago, and prices went up all over Illinois. No movement down yet that I have seen, actually went up a little.
🎯Bingo, we have a winner.🏆
This war with Iraq should be a major learning experience. Oil and its byproducts are a national security concern. We need to be self sufficient in oil based fuels and lubricants.
We need to pull the impediments to oil drilling in the US.
We need to build new refineries in the US. At least 4 regional plants able to refine oil produced in the US.
We need to put a muzzle on the EPA. The licenses for emmision control equipment on oil refineries should be unalterable by the EPA for 10 years after the commencement of commercial operation to allow the refinery to recoup their investment in the facility.
We also have an abundance of natural gas in the US there is no reason that we are dependent on the Middle East for ammonia for the manufacture of fertilizer.
Didn’t think about seasonal demand tapering off. I did think that by now possibly others are beginning to fill the void, like Venezuela. Lots of money to be made, good incentive.
Eventually as the threat persists, land routes to circumvent the threat will become a greater factor. The Gulf states surely want to bring product to the market.
Russia is a key player in all of this, IMHO. Something ignored by our MSM which declared them bankrupt and impotent in the face of our sanctions post Ukraine war before these even took effect.
Truth is, Russia is 2.5 times the oil production, 3.5 times the refining capacity and even a greater role in natural gas compared to Iran. Many, like the Euro’s sort of screwed themselves economically, all while running victory laps in their media in how they will crush the Russian economy with sanctions post 2022.
Today, no one is really reporting on the role of Russia in all of this, since it’s doesn’t fit the narrative (The narrative: we’re winning, Russia is losing, our sanctions are crushing them, they have no impact on us). https://media.licdn.com/dms/image/v2/D4D22AQEa2vhSLonXjg/feedshare-shrink_800/B4DZj2zFtTGsAg-/0/1756487249573?e=2147483647&v=beta&t=QR7h2DiTxWzUw-ZtAxVAOG9yGf8GOOsP6sLhNQYY1JY
This will be very unpopular with our Ukraine cheerleaders: https://www.cfr.org/articles/trumps-russian-diesel-deal-explained
We can call it election politics, and spin it that way, but the truth is it has a larger macro level economic consequence. The US economy is being stifled by high energy costs, and Russia is playing a role in that, by (((OUR))) past decisions. IMHO, it is also important to normalize relations with Russia in order to peel them away from Iran. Russia is no true friend of the Iranian regime, and Russia has faced off with Islamic terror before us, to a greater extent than us, even to a greater extent in warfare. They understood this threat long before we did, when we were still lecturing them (pre-911, Condoleeza Rice) about Chechnya and how Muslim jihadists there should have greater autonomy... The increased level of Russian Iranian cooperation was out of a “necessity,” we created.
IMHO, Iran unlike Russia, really did screw themselves when they closed Hormuz and we reacted by blockading them. Russia has a sovereign war industrial base, industry, true R&D capabilities, a larger domestic market... Russia can keep going and circumvent our sanctions or have substitutions through China and others to a great degree. Iran cannot. Iran doesn’t build much, and if they have no money, plus a blockade... good luck with that.
Iran must have thought that since much of their oil goes to China we wouldn’t do this? Who knows.
But this I am fairly sure about, in an economy where nearly 30% of the entire nations GDP is wrapped around oil, where 50-60% of their governments revenue is from oil, shutting them down like we are will cause problems for them, and the longer this lasts, the worse it gets for them. Even IRGC members want to have food on the table and when things get really bad, ideology takes a second seat to basic needs (Maslow’s hierarchy).
30% of an economy is Great Depression levels: https://www.stlouisfed.org/the-great-depression/curriculum/economic-episodes-in-american-history-part-3
Hormus is 20% of the worlds oil supply, there are ways around Hormuz (pipelines) and it’s not air tight with ships getting through. But our blockade on Iran is nearly air tight and for them this is near 100% of their oil exports. They hurt us, and the world economy, a little. But we are hurting them in a really significant way.
The fringe environmentalists are pushing an end to coal (ends steel) and oil in order to live in an CCP-controlled era. The Chinese auto industry pushes spying on four wheels so if you drive your car to an evangelical conservative church, they can arrest you but if your car is in a mosque, they can tell everyone to protect you.
Gross. Please keep your fantasies and fetishes off of FR. 🙄
But . . .
But . . .
The “Doom Gloomers” say this is unpossible.
Don’t know where you are, but Feather Falls is just five minutes from my house.
That’s about 40 minutes away. We’re about 15 minutes from the Hard Rock in Wheatland.
Jee, right on que, now that it’s too late!!
Who pulls these levers on us pawns????
I’ve no doubt there will be “reasons” why it skyrockets again, very shortly.
Been paying 3.35/gal for over 2 weeks now.
When are the lower oil prices going to show at the pumps?
Okay—should be decent prices there...
Its not just Iran, its the whole Middle East.
Middle East produces roughly 24 to 25+ mb/d of crude vs Russia's approximately 8.4 to 10.0 mb/d
The Middle East exports almost twice as much diesel as Russia.
Middle East produces almost twice as much diesel as Russia, and was shipped through the Strait of Hormuz.
I will try to curb my enthusiasm. It will be very hard though.
I use fuel rewards. I only pay around $2.39.
Now look at energy prices et al.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m
I can provide a dozen or more US and EU government sites that ALL corroborate this.
Please don't answer / reply to me.
I don't want to be bothered by your nonsense.
You are a waste of time.
Everything Russia is bad, Russia is failing, Putin is a mad man, unprovoked, sovereignty, democracy and human rights, Ukraine is winning, bla bla bla. Tomorrow Ukraine will surely take back Crimea. Sarc-
Russia is FACTUALLY one of the largest oil producers on this planet. They are FACTUALLY one of the biggest gas producers on this planet. They are FACTUALLY one of the biggest refining nations on this planet.
Seizing their ships, sanctions, blowing up pipelines, targeting their refining capacity, and bragging about this, BUT then pretending like that has no impact on energy prices (much electrical power is produced using natural gas in Europe as it is in the US) is beyond insincere.
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