OT: Gas is now $3/gal in Anderson
- Thread starter Trading Tiger
- Start date
It's going to go a lot higher unfortunately. We are about to go into a depression.....You can feel it. You can see it.
#buildbackbetter
A bunch of morons in Washington. Need a clean sweep.
A bunch of morons in Washington. Need a clean sweep.
Term limits would have solved this Pudding-Brain-POTUS situation a long time ago. Shit is depressing to watch it unfold exactly like most intelligent people expected.
I'm just glad he's ending Covid, bringing us all together and that the adults are back in charge.
You are a grade A buffoon who understands less than zero about global economics if you think joe Biden is to blame for higher gas prices
You’re like Big Ben, right on time. So go ahead and tell everyone why the prices are so high. I’ll get my popcorn ready.......
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Round table in 3....2....1...
You are correct, Biden and the political leaders are screwing up much bigger things, like the Economy for one rather than Gas prices.
Talk about 401K and Investments falling off a cliff now, wait another 2-3 years of this $hit.
It's $3.45/gal regular in SouthCentral PA. Hearing it's going higher.
We shall see.
The cancelation of the Xl pipeline and further hurdles for others near completion was a strong message to the drillers and processors. The EPA had once again been empowered to clamp down on drilling and pumping. Leasing of federal land for new wells has been prohibited. All these combined have contributed to the US producing less crude oil. The steady increase in US production slowed to a crawl once Biden came into office. Companies like Exxon have diverted investment from developing new oil fields over to carbon capture and alternative energy sources. Less US produced oil has absolutely increased gas prices.
BTW, all my investments in fossil fuel stocks and mutual funds have had fantastic returns.
Never fails - a little political commentary and folks start calling each other names and insulting others smh
This. And China and Russia love our in-fighting. They love our media who wedge our citizens daily further apart. They eat it up and smile at the future of their biggest adversary. People think we will just be “the best” forever. It’s only been a short 75-100 or so years of this dynasty and we’re already starting to significantly fracture.
Thanks George Soros
Thanks corrupt politicians
Thanks no term limits
Thanks main stream media/agenda pushers
Thanks “Social Media” - better known as your information gatekeeper and new brain
Waving the white flag already?
Unfortunately, even for those that don't want to admit it, things are going to get worse. The natural gas prices are soaring and we refuse to tap into our natural resources. Heating your home this winner will be twice as much as last year.
Throw in inflation and we are heading for a dark winter
Throw in inflation and we are heading for a dark winter
Before placing blame, we should probably all take a step back and look at the reality of the global energy market right now. We just had an unprecedented dip in oil demand in 2020 (negative oil prices). Production trailed that dip and has trailed the consumption rise back.
Facts:
2021 US Oil production will exceed that of 2018. 2022 is projected to be the highest on record. US will show 11.9% growth from 2018 to 2022.
Meanwhile, OPEC has cut production. 2018 was right at 36.7 million barrels per day. 2021 will show right at 31.8. 2018 to 2022 will show growth of negative 7.8%.
Consumption of oil in the US has/will remain relatively flat (0.6%) over the same time period. However, consumption in China alone is expected to show a 14.2% increase over the same period of time.
End of the day here's the simple math. America is adding to global supply while showing slow demand growth, but global production is not meeting global consumption growth. When demand exceeds supply....prices rise.
I realize it's easy to point at the leadership in Washington when you pay higher gas prices at the gas pump....but I'd urge you to look a little deeper.
Frequently the blame should not be placed across the isle, but across the ocean.
*Forecasts are from the September 2021 EIA Short-Term Energy Outlook.
Facts:
2021 US Oil production will exceed that of 2018. 2022 is projected to be the highest on record. US will show 11.9% growth from 2018 to 2022.
Meanwhile, OPEC has cut production. 2018 was right at 36.7 million barrels per day. 2021 will show right at 31.8. 2018 to 2022 will show growth of negative 7.8%.
Consumption of oil in the US has/will remain relatively flat (0.6%) over the same time period. However, consumption in China alone is expected to show a 14.2% increase over the same period of time.
End of the day here's the simple math. America is adding to global supply while showing slow demand growth, but global production is not meeting global consumption growth. When demand exceeds supply....prices rise.
| Production | 2018 | 2019 | 2020 | 2021* | 2022* | Growth Since '18 |
| US | 17.9 | 19.5 | 18.6 | 18.6 | 20 | 11.90% |
| OPEC | 36.7 | 34.7 | 30.7 | 31.8 | 33.9 | -7.80% |
| Global | 100.7 | 100.7 | 94.2 | 96.1 | 101.5 | 0.70% |
| Consumption | 2018 | 2019 | 2020 | 2021* | 2022* | Growth Since '18 |
| US | 20.5 | 20.5 | 18.2 | 19.7 | 20.6 | 0.60% |
| China | 13.9 | 14.8 | 14.4 | 15.2 | 15.9 | 14.20% |
| Global | 100 | 101.2 | 92.4 | 97.4 | 101 | 1.00% |
I realize it's easy to point at the leadership in Washington when you pay higher gas prices at the gas pump....but I'd urge you to look a little deeper.
Frequently the blame should not be placed across the isle, but across the ocean.
*Forecasts are from the September 2021 EIA Short-Term Energy Outlook.
^^^^This. Heating oil and natural gas are going to be substantially higher this winter.
Amazing how the world's largest oil producer kept prices in check globally for 4 years and achieved energy independence. The world's prices reflected our administrations stance on domestic oil production.
9 months into Biden's admin and all of the sudden we are captives of global pricing again?
This is all part of the great reset. You won't be able to afford gas in a year. The prices of cars will skyrocket as well and the only option left will be a subsidized government electric vehicle. This vehicle will be linked to your newly established social credit score. This is the beginning of the end.
Joe’s just a puppet. It’s Obama via Susan Rices war on energy. Killing the Keystone pipeline and other things have sent a message. They are saying, let’s not be energy self sufficient and rely on the Middle East for our gas. Hence more wars. Trump had the Middle East, the most stable it’s been in 50 years. That sure has changed quick..,
I think this is a pretty fair assessment really. We have two sucky choices: Keep gas prices low and continue to ruin the planet and have god awful weather and fires (that run up federal deficits) or higher gas prices that cause true pain to ALL consumers and producers but that helps reduce carbon.
In regards to carbon capture and the like, I think there has been a movement afoot in these fossil companies to diversify even before Biden changes, although his changes make them even more pronounced. Even AramCo sees the end of Fossil fuel dependence and is diversifying rapidly. Gonna be a rough ride then next 20 years!
I'm surprised it is not already $4.00 (+) per gallon. Biden has shut down US oil and natural gas production, so we are now relying on the Middle East and Russia for oil and natural gas. It is hard to wrap your brain around that the US has gone from #1 in the world in oil and natural gas production, to essentially no production at all in less than a year!!! 😲
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That's all fine and dandy but the $30T Treasury Raid will not help matters either but actually causing increases across the board, not just Gas. It's going to get worse and for a long period of time which would indicate it's not just related to production dips.
This trend is the least of worries(for me), was planning to retire in 5.5/6 yrs tops but if the market goes way bad and retirement funds take a big hit may not be feasible now.
I would have your retirement assets in something very, very conservative at this point - especially in these incredibly uncertain times and after a decade bull run.
The morning after joe won gas went up 50 cents to 2.87 down here in South Georgia.
Kill oil production in the US. Kill the pipeline from Canada to TX. Watch global prices increase.
Also probably important to note that the Fed Reserve and Washington work independently of each other. You don’t have to look back very far to see Powell doing exactly opposite of what Washington desired. Inflation projections through 2023 do expect to be higher than typically desired (3 to 4%), but not out of control. People fear that we are going to enter an inflation cycle similar to the 1970’s, but there is zero indication at this point that this will happen.
My biggest fear at this point is wage growth, which isn’t all bad. The working class spends the highest percentage of their income…more money being pumped into the economy leads higher corporate earnings leads to a stronger stock market. But if wage inflation doesn’t slow down we may actually peak higher than projections currently reflect.
The Fed is trying to thread a needle. No amount of political mud slinging will change that. They are flying the plane….lets all pray for a safe landing.
Imagine enjoying artificially low prices on oil for two decades straight then blaming the current POTUS when you start having to pay fair price lmao
Another dubm@ass pretending to be smarter than everyone else. The thread is complete.
well, i mean we are talking about the same population who watched while 'business owners' sold off textile work to the chinese where they can profit off of slave wage labor, all while talking about making our economy strong. people aren't very smart really.
TI must have a liberal staff? It didn't take long for this one to get to the 'Round Table'! Well, breaking news, gas prices DOES affect sports...
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