Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
July 22nd 91 octane 4.64.I see regular gas ranging from $4.05.9 down the $3.99.9.
Interesting to watch the redefining. Appearing around the $100k / year (net income) mark. Recession has not had an effect on them. Those with less than that income are feeling the squeeze. Many differing definitions between those two groups.I'm sure the Democrats will redefine the term crisis; so, we'll just experience more 'heaven and bliss'.
Get ready for the Maduro diet.
They did cause the recession.When prices go down its not because of some brilliant Brandon Regime action but a reality of slowing economy and demand world wide aka Recession
Shorting crude and other commodities was a good decision this year.
Continue to short since Americans are broke AF, and no amount of other shithole countries (combined) can make up for the American consumers.
Always add the S&P 500 and other quality dividend stocks.
Starting to build positions in beaten down travel names.
Lol at all the clowns who were calling for $150 oil.
WTI Crude • 94.22 +0.33 +0.35% Brent Crude • 100.3 +0.23 +0.23%
The only real winners in this situation are the oil companies.. They are not reinvesting or sharing the take. This is historic for that industry. Doubtful the renewable resource camp can match the profits of the oil companies.Lol at all the clowns who were calling for $150 oil.
I agree... Many components are at work in the economy. Psychological, economical, greed, a depleting natural resource and of course politics. Not much left of the American "Middle Class" to squeeze. I think Europe, UK, Scotland are giving us a glimpse of where America is headed... Australia is a different duck, Africa is a wild card, South America is the drug capitol of the world and China / Russia are playing a different game.$100/bbl is still a hell of a drain on consumers. Gotta imagine there's still plenty of downside as demand is destroyed and deflationary pressure increases.
The only real winners in this situation are the oil companies.. They are not reinvesting or sharing the take. This is historic for that industry. Doubtful the renewable resource camp can match the profits of the oil companies.
Stock up now.... I am.Regular =$3.95.9
I can tell the election cycle is getting into full swing.
Stock up now.... I am.
gas doesn't store very well. Need to go Diesel.
I read somewhere, that the Saudi's are actually producing as fast as their wells allow. The Saudis at one time, pushed their wells faster, *I'm going to make up some numbers, since I don't have the article.What a surprise
The smallest increase in output in OPEC history, and couldn’t get smaller without being a cut.
"At the current rate, I fear that President Joe Biden consumed more jet-fuel travelling on Air Force One to Jeddah than any extra oil barrels OPEC+ may agree to provide to the market in September."
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
Fake Saudi output hike is mostly down to Russian oil imports
Exclusive: Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation
Saudi Arabia, the world's largest oil exporter, more than doubled the amount of Russian fuel oil it imported in the second quarter to feed power stations to meet summer cooling demand and free up the kingdom’s own crude for export, data showed and traders said.www.reuters.com
Appearing around the $100k / year (net income) mark. Recession has not had an effect on them. Those with less than that income are feeling the squeeze.
Yes that indeed seems to be the case Sauds actualy do not have the capacity they claim to have they average 9.6 million barrels with extremely short jumps to 11+million and that includes lots of creative accounting, but more importantly Saudi domestc comsumption of oil grew far more than their capacity to pump , so the 100k barrels extra OPEC will be pumping is just Sauds buying more Russian oil for domestic use while selling their own.I read somewhere, that the Saudi's are actually producing as fast as their wells allow. The Saudis at one time, pushed their wells faster, *I'm going to make up some numbers, since I don't have the article.
So, lets say they are producing at 10m barrels, the Saud pushed it to 12m. They could only hold the 12m for a month or so and it dropped to 8. It took a while to recover back to the 10m and the saudi's just leave it there, since that is basically their max without diminishing returns.
edit - per the article
You know the Saudi's are taking the Russian oil and mixing it in with theirs. The Saudis are lying when they saying they are only using Russian oil for generation. PFFFF. They are business people; they are making that extra ruble.
I appreciate your feedback. I hear that from a few other younger people (family members) who have not lived through a recession.Thats a pretty broad brush to say those earning above 100k arent affected by the recession... LOL...
I make in excess of 100k, but we are definitely feeling it. This past spring I started working an extra 2-3 days per month of overtime to try to put a little extra cash away... So far I havent actually put any extra cash away because inflation is eating into that. So this year I will likely make an extra 30k in overtime and I will not really see a penny of it. Maybe if I made 500k+ I wouldnt feel it, but 100k... no we still feel it.
Home owner's insurance and property taxes are two categories that consumers can't simply cut back on.
I read somewhere, that the Saudi's are actually producing as fast as their wells allow. The Saudis at one time, pushed their wells faster, *I'm going to make up some numbers, since I don't have the article.
So, lets say they are producing at 10m barrels, the Saud pushed it to 12m. They could only hold the 12m for a month or so and it dropped to 8. It took a while to recover back to the 10m and the saudi's just leave it there, since that is basically their max without diminishing returns.
edit - per the article
You know the Saudi's are taking the Russian oil and mixing it in with theirs. The Saudis are lying when they saying they are only using Russian oil for generation. PFFFF. They are business people; they are making that extra ruble.
I appreciate your feedback. I hear that from a few other younger people (family members) who have not lived through a recession.
Some are starting to feel an "an exponential curve"... Home owner's insurance and property taxes are two categories that consumers can't simply cut back on.
View attachment 7925653
Bigfatcock
Food quality has definitely gone downhill at most places I have eaten, and now I do the same as you.I lived through the 08 recession.
I think you are confusing recession with inflation. Its hard for me to picture us currently in a "recession" although yes the technical definition currently exists. At least not like 08 with the stock market crashing, massive job cuts, etc... This "recession" doesnt feel to much like one, but if things continue on the current path I think things could get ugly.
I guess my issue currently is the runaway inflation that is FAR FAR FAR higher than "9%" on a lot of goods.
-Homeowners insurance for me went up almost 50%.
-Property tax really isnt going up much for me since I am homesteaded in Texas. 10% increase which is the state maximum they are allowed.
-Grocery bills have gone up ~50%(we used to spend around 100-125 a week now we spend 150-200).
-Fuel is doubled(its eased a bit), but luckily we have a Prius we drive 97% of the time so its not to bad. I havent fueled my F150 in over a month because I havent driven it hardly all. Im lucky in both accounts of vehicles that I dont NEED to drive my truck.
-Energy costs-I locked in a 3 year electricity plan at 8.4c/kw last year. Lots of people said "you're dumb for locking 3 years".... I would have locked 10 years if I could have.
Ill see what my car insurance goes up to here shortly when I renew in September. Im expecting a healthy increase.
Ive had some home projects we have wanted to do, but refuse to do them with prices on materials and labor so crazy.
My wife and I enjoy going out to dinner, but even thats getting stupid so we go out only maybe once every other week to a nice restaurant instead of 2-3 times per week to somewhere "cheaper" because all the "cheap" places have gotten expensive, the food isnt that great and the service is terrible. I would rather go have one nice $150 meal every other week vs. 3 $50 meals that sucked.
Up front, this is just one old guy's personal thoughts on recessions I have survived.I lived through the 08 recession.
I think you are confusing recession with inflation. Its hard for me to picture us currently in a "recession" although yes the technical definition currently exists. At least not like 08 with the stock market crashing, massive job cuts, etc... This "recession" doesnt feel to much like one, but if things continue on the current path I think things could get ugly.
I guess my issue currently is the runaway inflation that is FAR FAR FAR higher than "9%" on a lot of goods.
-Homeowners insurance for me went up almost 50%.
-Property tax really isnt going up much for me since I am homesteaded in Texas. 10% increase which is the state maximum they are allowed.
-Grocery bills have gone up ~50%(we used to spend around 100-125 a week now we spend 150-200).
-Fuel is doubled(its eased a bit), but luckily we have a Prius we drive 97% of the time so its not to bad. I havent fueled my F150 in over a month because I havent driven it hardly all. Im lucky in both accounts of vehicles that I dont NEED to drive my truck.
-Energy costs-I locked in a 3 year electricity plan at 8.4c/kw last year. Lots of people said "you're dumb for locking 3 years".... I would have locked 10 years if I could have.
Ill see what my car insurance goes up to here shortly when I renew in September. Im expecting a healthy increase.
Ive had some home projects we have wanted to do, but refuse to do them with prices on materials and labor so crazy.
My wife and I enjoy going out to dinner, but even thats getting stupid so we go out only maybe once every other week to a nice restaurant instead of 2-3 times per week to somewhere "cheaper" because all the "cheap" places have gotten expensive, the food isnt that great and the service is terrible. I would rather go have one nice $150 meal every other week vs. 3 $50 meals that sucked.