Price Check in the Gas and Diesel Aisle...

Until recently, the idea of a Fortune 500 company boss criticizing the energy transition would have been considered eccentric, to put it mildly. Now, two Fortune 500 bosses have slammed the transition inside a single week. JP Morgan’s Jamie Dimon was first. On Monday, he told CNBC in an interview that the Biden administration had basically messed up the country’s—and the world’s—energy security by doubling down on the energy transition instead of motivating growth in oil production.

 
Until recently, the idea of a Fortune 500 company boss criticizing the energy transition would have been considered eccentric, to put it mildly. Now, two Fortune 500 bosses have slammed the transition inside a single week. JP Morgan’s Jamie Dimon was first. On Monday, he told CNBC in an interview that the Biden administration had basically messed up the country’s—and the world’s—energy security by doubling down on the energy transition instead of motivating growth in oil production.


Could it be that they've messed things up on purpose?

If the Obama/Jarret/Klain administration, sorry, the "Biden" administration's goal is to force the average person to transition to an electric vehicle, making oil unaffordable to the masses as a transportation fuel source would be the quickest way to accomplish it. After all, IIRC the math on EVs being more affordable that traditional ICE cars only works if gasoline is above $5/gal.

A path to that might be heavily curtailing domestic production to increase price, depleting the SPR, then moving the country to reliance on importing expensive and volatile foreign oil produced by countries that are not allies (also increasing price and making it easy to create a shortage when imports are interrupted), and finally buying oil at top dollar to refill the SPR, helping to drive the price up even more.

And if someone were mostly concerned about profiting from a big bet on "renewables" they wouldn't necessarily care how much pain they caused the average American. Especially if they hated them as much as DC Democrats seem to hate the working class.
 
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Could it be that they've messed things up on purpose?

If the Obama/Jarret/Klain administration, sorry, the "Biden" administration's goal is to force the average person to transition to an electric vehicle, making oil unaffordable to the masses as a transportation fuel source would be the quickest way to accomplish it. After all, IIRC the math on EVs being more affordable that traditional ICE cars only works if gasoline is above $5/gal.

A path to that might be heavily curtailing domestic production to increase price, depleting the SPR, then moving the country to reliance on importing expensive and volatile foreign oil produced by countries that are not allies (also increasing price and making it easy to create a shortage when imports are interrupted), and finally buying oil at top dollar to refill the SPR, helping to drive the price up even more.

And if someone were mostly concerned about profiting from a big bet on "renewables" they wouldn't necessarily care how much pain they caused the average American. Especially if they hated them as much as DC Democrats seem to hate the working class.
That is one of many theories. The baffling thing is the speed of how rapidly the collapse has taken place... Combined with how slow the FED Reserve, World Leaders and CEO's have implemented a plan to recover the economy and bring down inflation.
 
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91 octane at Costco ..4.09 as of 9/2/22
91 octane at Costco ..4.09 as of 9/2/22
91 octane at Costco 4.49 9/16/22
91 Octane - 4.85 a gallon. 9/30/22 Phx Costco
91 Octane - 5.09 a gallon 10/07/22 Phx Costco
91 Octane - 5.25 a gallon 10/15/22 Phx Costco - 5.39 a gallon @ circle K
91 Octane - 5.39 a gallon 10/21/22 Phx circle K
 
We had a small decrease in all gas and diesel products and I suspect we will continue to see the prices drop until the election. If the Demwits stay in control of the House and Senate, the prices of gas and diesel will go through the roof.

Just another Capt Obvious post....
 
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We had a small decrease in all gas and diesel products and I suspect we will continue to see the prices drop until the election. If the Demwits stay in control of the House and Senate, the prices of gas and diesel will go through the roof.

Just another Capt Obvious post....

Gasoline is still stuck a few pennies above $4/gal in this area, so I don't think the Dems are getting nearly the break that they wanted to see.

Diesel is still hovering around $5.50/gal. It sucks at the pump, but I guarantee I'm paying even more money elsewhere because of the impact of high fuel prices in several other areas of commerce (particularly in my grocery bill).

I don't see the Republicans doing anything meaningful to lower fuel prices because we currently have a refining crunch that no amount of "drill baby drill" is going to fix.
 
Gasoline is still stuck a few pennies above $4/gal in this area, so I don't think the Dems are getting nearly the break that they wanted to see.

Diesel is still hovering around $5.50/gal. It sucks at the pump, but I guarantee I'm paying even more money elsewhere because of the impact of high fuel prices in several other areas of commerce (particularly in my grocery bill).

I don't see the Republicans doing anything meaningful to lower fuel prices because we currently have a refining crunch that no amount of "drill baby drill" is going to fix.

You don't believe they will try to open up the oil fields in the US?
 
Gasoline is still stuck a few pennies above $4/gal in this area, so I don't think the Dems are getting nearly the break that they wanted to see.

Diesel is still hovering around $5.50/gal. It sucks at the pump, but I guarantee I'm paying even more money elsewhere because of the impact of high fuel prices in several other areas of commerce (particularly in my grocery bill).

I don't see the Republicans doing anything meaningful to lower fuel prices because we currently have a refining crunch that no amount of "drill baby drill" is going to fix.
Rig count is up from a year ago... Politically, I don't know if there is much influence from either party. The "Oil Patch" is watching how much free Government money is going to the EV / Go Green establishments.
JMHO
 
One line tells the story:
“We continue to maximize refining utilization in a safe, reliable and environmentally responsible manner to provide essential products.”
Refineries are in the "Run to Failure" (RTF) mode.... Record profits and when the old refinery has served it's purpose the Big Oil companies sell it off to a smaller, independent oil company....
 
91 octane at Costco ..4.09 as of 9/2/22​
91 octane at Costco 4.49 9/16/22​
91 Octane - 4.85 a gallon. 9/30/22 Phx Costco​
91 Octane - 5.09 a gallon 10/07/22 Phx Costco​
91 Octane - 5.25 a gallon 10/15/22 Phx Costco - 5.39 a gallon @ circle K​
91 Octane - 4.60 a gallon 10/29/22 Phx Costco .... 87 Octane was 4.20 a gallon
 
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Energy Inflation Was by Design | J o s e p h To o m e y2
The West is experiencing its third energy crisis. The first, in 1973,
was caused by the near-quintupling of the price of crude oil by Gulf
oil producers in response to America’s support for Israel in the Yom
Kippur war. Their action brought an end to what the French call the
trente glorieuses—the unprecedented post–World War II economic
expansion. The second occurred at the end of the 1970s, when Iran’s
Islamic revolution led to a more than doubling of oil prices. This
again inflicted great economic hardship, but the policy response was
far better. Inflation was purged at the cost of deep recession. Energy
markets were permitted to function. High oil prices induced substitu-
tion effects, particularly in the power sector, and stimulated increased
supply. In the space of nine months, the oil price cratered from $30 a
barrel in November 1985 to $10 a barrel in July 1986. It’s no wonder
that the economic expansion that started under Ronald Reagan had
such long legs.


 
well the 25 days till we out, is only if all production stopped.
Since we still refine diesel on a daily basis, it's more of a rolling days till we are out.
Granted, as we use more Diesel then produced (refined); the 25 days will shrink.
Current crisis is manufactured; ask the big guy; whose first edict was to cancel Keystone pipeline.
Dems want everyone on coupon books; so they have complete control.
 
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well the 25 days till we out, is only if all production stopped.
Since we still refine diesel on a daily basis, it's more of a rolling days till we are out.
Granted, as we use more Diesel then produced (refined); the 25 days will shrink.
Current crisis is manufactured; ask the big guy; whose first edict was to cancel Keystone pipeline.
Dems want everyone on coupon books; so they have complete control.

Keystone XL is a distraction. Sure, it's an obvious example of Biden going after the oil industry, but most of the oil transported by the new pipeline spur would be exported, the same as most of what's being transported by the existing (and operational) Keystone pipeline.

Want to really lower domestic energy prices? Reinstate the ban on exporting American oil that was lifted by the Obama admin in 2015.
 
No concern for "We the People"....

President Joe Biden threatened Monday to pursue higher taxes on oil company profits if industry giants do not work to cut gas prices.

LOL, MF wanted to raise taxes on oil companies anyways..
What a BS way of doing it and saying it's 'for the people'.
What stupid POS doesn't realize that companies will pass off the taxes onto the consumers?
fk'n clown world.
 
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LOL, MF wanted to raise taxes on oil companies anyways..
What a BS way of doing it and saying it's 'for the people'.
What stupid POS doesn't realize that companies will pass off the taxes onto the consumers?
fk'n clown world.
No thought given to how many Americans, in one way or another, bring home a paycheck thanks to an "oil related" job. No mention of the "bad years" in the oil patch. Chart is for Exxon Mobil (XOM). I have a good friend that worked at Exxon for a life time and retired in early 2020... He held on too long and would have been better off retiring in 2019. Others have done well with employees stock in the past few years. Taxing the oil industry is simply taxing "We the People".

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