Posted on 02/08/2021 8:22:04 AM PST by AAABEST
"The foundation of the rise is the fact that the coronavirus situation continues to improve, pushing global oil demand higher as production continues to lag, pushing U.S. gas prices higher," said Patrick De Haan, head of petroleum analysis for GasBuddy. "Until OPEC intercedes and raises oil production in the months ahead, motorists should continue to expect rising gas prices."
(Excerpt) Read more at houstonchronicle.com ...
I wonder if these brainless wonders know where electricity comes from...
I wonder if these brainless wonders know where electricity comes from...
Those "brainless wonders" are China's "useful idiots," because the main reason for the political putsch to electric cars is because the vast majority of EV parts are made in China. So are the rare-earth materials.
” severely restricting oil production on federal land.”
Companies can still frac on public lands with leases approved before Biden got in. As a matter of fact the Trump admin ran through thousands of leases before he left.
Biden did what he did to appease the far left knowing his executive order would do little regarding public lands. The Keystone pipeline will be reaproved down the road in court.
Biden is controlled by big corporations, not the far left and those big corporations want cheap energy.
He is off to a good start. :(
Prior to obama under GWB I recall 89c a ga gas in TX
Trump held it close to a dollar for his entire tenure
Where I live in FL, regular gas has gone up $0.35/gal since the election. It will be $1 by the end of the year. Keystone cancellation spooked the oil markets.
2 tanks?
2 tanks?
I wonder if these brainless wonders know where electricity comes from...
I am going by the current retail price.
The price in may area has spiked up since mid January.
Maybe it something at the refinery, changing to summer gas???
Maybe its Biden and All out Crazy with her green plan.
Maybe its the expected inflation
Maybe the price will come down to President Trump levels
Let’s see what happens
Oh, and commuters are now working from home, driving down demand.
Same with vacation driven demand.
One of my conspiracy theories:
Collectively, the automobile gas tank is a huge WIP inventory of gas.
Refineries run at a constant rate.
When the price goes up, folks do not fill up
When the price goes down, people pull over and fill up
Price competition and supply line management drive local prices
Yup. It’s a medium duty rollback.
Part of my business is hauling junk cars.
Biden is killing the scrap market to.
Finely got to 165 a ton (from 30 a year ago) now it’s falling again
>>All the idiots around here are betting on electric cars and batteries.
And when the next Hurricane Ike or Harvey knocks out power for months, then what?
Put gas in a generator so you can charge your “smart car”?
I paid under a dollar last summer.
India and China will buy up the slack.
Is Biden going to restock our reserves while the price is low?
Funny how Trump had nearly full employment AND affordable gas prices at the same time...eh?
Maybe it was something about American energy independence and excellent relations with most of the opec producers....both policies of which biden cancelled in his first 2 weeks
Will be 5 bucks a gallon soon here in Florida. Already 2.50. Thanks biden. Where is my check.
Warren Buffet lost a billion dollars trying to run up the price of oil while Bush was in office.
The guy is a rich idiot
https://www.eenews.net/stories/1063050681
BUSINESS
Warren Buffett regrets $10B bet on oil
Corbin Hiar, E&E News reporterPublished: Tuesday, May 5, 2020
Warren Buffett, the chairman and CEO of Berkshire Hathaway Inc., this weekend lamented the $10 billion investment he pumped into Occidental Petroleum Corp. last April and said he plans to invest more money into wind and solar power.
“If you’re an [Occidental] shareholder or any shareholder in any oil-producing company, you join me in having made a mistake,” he said, referring to negative oil prices late last month that happened as a result of the oversupplied U.S. oil market and collapsing demand (Energywire, April 21).
“It was attractive at oil prices that then prevailed,” Buffett said of Berkshire’s Occidental bet. “It doesn’t work, obviously, at $20 a barrel. It certainly doesn’t work [at] minus $37 a barrel.”
The famous investor predicted that “oil production is going to go down a lot in the next few years because it does not pay to drill.”
Buffett’s comments were made in Omaha, Neb., at the conglomerate’s annual shareholder meeting. The closely watched event — a largely online affair this year due to the coronavirus pandemic — stretched nearly 4 ½ hours. Climate change never came up.
Here in NYS it never went below 1.50 that I can recall but still better than what is to come. I also predict that there will be a utility/energy tax on whites to subsidize illegals and minorities whilst wood stoves will be banned.
Make America Dependent Again, MADA (Act of high treason)
Covid killed the scrap market here.
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