Oil drops to 11 dollars per barrel!!

Fox TV news | 20 April 20 | hapnHal

[hapnHal]

Fox morning news is reporting that Oil Prices have dropped to 11 dollars per barrel. What does this mean? Eliminate and/or reduce gas taxes and we may have .33 cents per gallon gas again.

[central_va]

TARIFF OIL NOW!!!

[Jewbacca]

I think a variable tariff. The difference between $40 and the price sold.

Essentially it would make dumping oil here pointless, so they’d raise their price and scale back production.

Exxon and all the internationals would hate it, but screw them.

[MrChips]

We can beat that here in eastern North Carolina: $1.75.

[HamiltonJay]

Well, it means its direct impact is going to be on energy production in the US... lot of folks will be out of work and wells capped, because at that price its cheaper to buy foreign oil that produce domestically... So that’s the direct impact, and probably the desired impact..

But remember, this time next time some idiots tell you “We are at PEAK oil”... and there is nothing anyone can do about it.

[MrChips]

Moreover, the Democrats won’t let us fill the strategic oil reserve while oil is cheap. Trump tried.

[who knows what evil?]

I paid 24.9 for gas back in 1971...never thought I would see prices that low again. Then again, what do I know?

[central_va]

A tariff would both protect oil patch jobs and raise a huge amount of federal revenue. WIN - WIN.

[bray]

$2.99/gal in Oregon thanks to our Global Warming tax.

[SkyDancer]

States will just increase the gas tax.

[imardmd1]

33 cents per gallon of gasoline is a pipe dream, for we are at a point of Democratic-prodded grasping, foolish inflation where anything costing 33 cents in 1960 now costs $3.30 or more.

In 1958, the year my oldest son was born, I had a job as a packing clerk, for the minimum wage which was then 100 copper cents per hour ($1.00 of coin silver). Now, Democrats are pushing for 1,500 copper-plated zinc cents per hour ($15.00 of cupro-nickel alloy worth more than the dollar value).

Even a gallon of bottled water now costs more than 33 cents in the grocery, doesn't it?

In 1958, a gallon of gas cost about 27 cents, a clean uniformed attendant would pump it for you, while checking your oil level, fan belt tension, and cleaning your windshield as a free part of the process, even if you bought only five gallons ($1.35). You didn't even have to get out of the car for it.

And now? At $2.70 per gallon? < /sarc >

[lurk]

Our miles per month are way down right now. Thus our purchase of gas per month is less than half of normal. The price per gallon is down a dollar too.

Multiply that formula times all the consumers in the US and you have a problem for the oil industry. First to stop are the shale guys.

[NohSpinZone]

Yes I meant oil-producing states as in US states. Insofar as it hurts Iran, good!

[grey_whiskers]

Up yours. It’s the Dem governors shutting down everything but mosques.

[discostu]

And no use for it. With the shutdown I’m putting on like 6 miles a week. With 28 MPG that leave my tank still functionally full from last month.

[pburgh01]

Larger problem is from what I understand they cannot stop pumping all together and things are turning critical as far as storage capacity. A problem nobody probably thought of when oil was $60 a barrel. You have low demand and with an all out economic war probably coming with China(depressing demand) this problem not going to get better soon. Don't think this translated to you filing up your 1969 Dodge 426 Hemi Charger with .33 per gallon gas. Won't happen., there is a price where refiners don't make any money and they are not in the making no money business. They will lay off thousands to try and refine less gasoline at profitable price. They will simply stop refining gasoline.

This will be a difficult problem to solve and afraid the boom times for the Baaken oil basin maybe over.

[central_va]

The problem would be easily and effectively solved with a $30.00/bbl imported oil tariff. Occam’s razor....

[pburgh01]

I'm afraid you are right, huge tariffs to inflate the price. See we told the Fearpers this would happen, but they would not listen. They believed the media and this fake pandemic to topple Capitalism. The real suffering beyond the 10 in a million deaths from the WhuFlu is coming.

In rides another totalitarian Roosevelt and their WTA type projects. The rise of Nazi-like nation states. Maybe we are the 4th Reich, who knows.... this time white males are the new Jews.

[dandiegirl]

I wonder if traffic to the Bush Center has lessened due to their unpopularity?

[tatown]

I’ve been on record for weeks/months now saying that the economic devastation from shutting down entire economies is going to destroy many more lives that the virus ever could. This fantasy of a quick rebound is just that...a fantasy. We are staring into an economic abyss yet our leaders are still treating the economy as a secondary priority. Stunning yet here we are still locked down with an economy shedding nearly a million jobs/day.

[central_va]

Quit being so dramatic. The tariff was an integral part of the Republican Party platform up to the point when the globalists absconded with the R Party post WWII.