Gas Prices

Quote: gamerfreak

Quote: ams288

Quote: fleaswatter

Just like the lefties here, CNN is always "carrying water" for dear leader poopy pants crop dusting house plant dementia joe bidumb.

Okay, that one is kinda funny. Would be A+ material if the second headline omitted China and just said “Thank Joe Biden.”

Ofc CNN has a hard on for China, but I believe they were referencing both the US and China tapping in to strategic oil reserves

So the Biden administration is so stupid they let China talk them into depleting the strategic oil reserves? I guess China promised to protect them if a war develops. Whoops that doesn't work the next war will be with China over Taiwan.

Quote: kenarman

. Whoops that doesn't work the next war will be with China over Taiwan.

Won't be much of a war, we are China's biggest customers for the goods they export. The Billionaire's who now run China who got rich off of selling products to the rest of the world are not going to ruin their customer base over a stupid war. Like the old proverb says if you want to turn an enemy into a friend, tie yourself to them economically. China and the West are so twisted together economically they do not want to piss each other off. I bought three things from Amazon on Cyber Monday and all three are made in China.

Quote: Evenbob

Won't be much of a war, we are China's biggest customers for the goods they export. The Billionaire's who now run China who got rich off of selling products to the rest of the world are not going to ruin their customer base over a stupid war. Like the old proverb says if you want to turn an enemy into a friend, tie yourself to them economically. China and the West are so twisted together economically they do not want to piss each other off. I bought three things from Amazon on Cyber Monday and all three are made in China.

They are already starting to clamp down on the Chinese private sector big time EB. One of the richest men in China disappeared for 3 months while the government encouraged him to give up much of his wealth. The quote below is from The Guardian you can easily find the complete article.

"Since February, close to $1 trillion has been wiped off the value of Chinese companies. The Nasdaq Golden Dragon index, which tracks the largest of about 250 Chinese firms listed in New York, was down more than 50% from its February peak last week. Investors fear a standoff between regulators on both sides of the Pacific could eventually lead to the delisting of Chinese stocks from US markets."

Demand for oil is still below pre-pandemic levels, and US oil production under the anti-oil Biden puppet masters, is down by 1.6 million barrels per day. Inventories are going to get tighter. Oil companies cut their investments in exploration, new well development and drilling by 50% as they transition to renewables. That, combined with the cheaper dollar, caused by the Fed pumping $120 billion into the money supply every month, raised the price of a barrel of oil by 41% since January. It’s up 4.5% this morning. On top of that, Biden now intends to increase the royalty rate for drilling on Federal land by 50%. Which will be passed on to the consumer. Not all bad. Oil stocks are doing really well under Biden. XOM +40%. COP +60%.

Quote: Tanko

Demand for oil is still below pre-pandemic levels, and US oil production under the anti-oil Biden puppet masters, is down by 1.6 million barrels per day. Inventories are going to get tighter. Oil companies cut their investments in exploration, new well development and drilling by 50% as they transition to renewables. That, combined with the cheaper dollar, caused by the Fed pumping $120 billion into the money supply every month, raised the price of a barrel of oil by 41% since January. It’s up 4.5% this morning. On top of that, Biden now intends to increase the royalty rate for drilling on Federal land by 50%. Which will be passed on to the consumer. Not all bad. Oil stocks are doing really well under Biden. XOM +40%. COP +60%.

excellent post

Oil prices are down 23% from their recent high.

Will gas prices go down again?

https://news.yahoo.com/oil-prices-have-tanked-so-hard-traders-are-assuming-planes-wont-fly-for-3-months-goldman-sachs-114609776.html

Quote: missedhervee

Oil prices are down 23% from their recent high.

Will gas prices go down again

Who knows
Was at the petroleum museum in Midland
They had a predictions display
Hilarious. So many in the last century predicted we would be out of oil by now