Posted on 07/02/2018 1:21:48 PM PDT by FreedomNotSafety
The speculators are at it again in the oil market, pushing up prices beyond the fundamentals.
(Excerpt) Read more at nasdaq.com ...
First, gas prices don’t really seem that high to me right now. Am I missing something? Seems like it was almost a $/gallon higher for a couple of years after Katrina.
Unfortunately, gas prices are one of the better predictors of presidential approval over time. Never understood why, but the correlation is very strong.
>Sheesh. And who’s gonna refine it? Last I checked, refinery >capacity is close to maxxed out. Oil ain’t the problem. >Refining capacity is.
And it’s about time for a refinery fire or some other shit to happen right on queue to inch it up even higher
Gas prices suck.
Lets not forget that the $/gal inflation adjusted, exchange rate adjusted, taxes excluded, non-boutique blend, not artificially restricted distribution (ahem, California) price of gasoline is the historically low end of pricing. Gasoline is as cheap as it ever has been.
Why screw with that by inviting further government intervention. If anything we need less government intervention.
This is an excellent site to study
https://inflationdata.com/articles/inflation-adjusted-prices/inflation-adjusted-gasoline-prices/
Sheesh. Whether it’s 10 minutes or 10 days is inconsequential. The point is, It is not a solution.
An export of 8,000 bbl per day of crude and refined products is a drop in the bucket, as the the U.S. imports over a thousand times more per day of crude oil. Some of that export is solvent for blending heavy crude to improve pumping.
Stupid and not necessary.
It will correct soon enough.
Sounds like someone has too !any short positions.
Nah - Trump asked Saudi to up its production to make up for other declines...if it increases much more, other production venues will kick back in.
gas prices near me were higher few months ago and have come down 30 or so cents a gallon.
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