Gas prices

aGDevil2k said:
I know what the hell you said.

I simply made my fucking point of view and you disagreed. But you can't handle that, so you've got to continue on to have a debate when I'm not interested. I said what I said and that's that.

I'm very confident in my intelligence and I've got the degrees to back it up.
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Yet here you are. If you don’t want a debate don’t post and don’t respond. Degrees don’t preclude missing an analytical distinction. This reaction kind of proves my point.
 
Paine said:
Yet here you are. If you don’t want a debate don’t post and don’t respond. Degrees don’t preclude missing an analytical distinction. This reaction kind of proves my point.
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Good stuff, Bernie.
Glad you were able to pat yourself on your back for a debate you so desperately wanted.
 


As much shit as team Trump will get about slow walking refilling the SPR, the GOP in Congress deserve a lot of the blame as they funded less than 20% of the planned funds for this purpose as part of looking for ways to scrape together savings to reduce the impact of tax cuts …

www.reuters.com

US seeks 1 million barrels of oil for Strategic Petroleum Reserve

The U.S. Department of Energy said on Tuesday it is looking to buy 1 million barrels of crude oil for delivery to the Strategic Petroleum Reserve, as it seeks to take advantage of relatively low oil prices to help replenish the stockpile.
www.reuters.com www.reuters.com

“… President Donald Trump's administration has been looking to replenish the SPR, but has been limited by a lack of funds and by ongoing maintenance at the reserve, held in a series of hollowed-out salt caverns on the Texas and Louisiana coasts. Pumps, pipes and other above-ground SPR infrastructure are constantly exposed to corrosive, salty air.

Trump's tax and spending bill included about $171 million for the SPR oil purchases and maintenance, much less than the $1.3 billion that had originally been in the legislation. Buying more oil for the SPR will likely require the passage of new legislation….”
 
Flashback - Biden era buybacks after the 2022 drawdown to offset the oil shock from the Russian invasion of Ukraine:

www.energy.gov

Biden-Harris Administration Makes Final Purchase for the Strategic Petroleum Reserve - Secures 200 Million Barrels at a Good Deal for the American Taxpayer

The New Purchase of 2.4 Million Barrels Closes Out the Emergency Revenues from the Biden-Harris Administration’s Emergency Sales in 2022 that Calmed Global Markets and Protected American Businesses and Consumers with a Reliable Supply of Fuel.
www.energy.gov www.energy.gov

But this only addresses the drawdown specific to Ukraine and sidesteps drawdowns resulting from post-COVID inflation, which was not replenished (there was some intentionality about leaving reserves emptied to support storage repairs but still).
 
korgguy1971 said:
Can't wait to hear how Foxaganda News tries to sell/explain away this mountain of shit :rolleyes:
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I can't wait to see how they blame all this on the Democrats and Joe Biden. It will take pretzel logic, but they're very resourceful and I'm sure they'll find some way to spin it to their cult for their social media talking points, as we frequently see from Trumpers on here ("Well, I saw somewhere that Biden and the Democrats are actually to blame for all this...").
 
Zoo_View said:
When the gas station or gas station chain (more likely a chain than a sole proprietor) calls up for a new delivery (and it’s most likely that the new delivery is on auto-delivery; the fuel wholesaler wants the gas station’s tanks full, not its tanks full), they change the price at the pump to the higher price.

When the gas station chain learns of the new, HIGHER price, it jumps the price at the pump.

Been that way since at least the first 1970’s gas crisis.

Most fuel wholesalers aren’t making bank in a time of chaos. These aren’t international conglomerates. The sole proprietor gas station is GETTYing fucked. The gas station chain is on tight margins.

Are Big Oil companies making bank in this chaotic mess? No clue.

Trump minions are.
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Exxon upstream earnings increase by approximately $2 billion for each $5 per barrel move (spirce: investing.com

It's a scaling thing (math). Oil exploration becomes profitable above %60/ba. The sweet spot is about $80/ba. We're all screwed over $100/ba.

Capitalism is chock full of positive feedback loops. There's noreliable method of predicting what happens from here if Trump doesn't TACO soon. But it won't be good. Oil is a global commodity and we're in a regional to world war.
 
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