- Nov 3, 2010
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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.
Oil Industry Execs Lash Out At Botched Energy Transition | OilPrice.com
U.S. energy executives have blamed failed energy policies for the current energy crunch that has taken the world by stormoilprice.com
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.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.
Diesel $5.399 here in Indy today.
Diesel $5.399 here in Indy today.
Diesel has 25 days of inventory left, lowest since 2008 (in news today) .. stock up before it's really GONEDiesel cheapest around here is 5.40
Need to remind folks.
Not that I believe voting will change much these days.
R
Wait, what?Diesel has 25 days of inventory left, lowest since 2008 (in news today) .. stock up before it's really GONE
YepWait, what?
91 octane at Costco ..4.09 as of 9/2/2291 octane at Costco ..4.09 as of 9/2/22
$75 by Christmas.
WTI Crude • 84.18 -0.87 -1.02% Brent Crude • 92.84 -0.66 -0.71%
Heating Oil 3.848
$72 oil is the upper limit the Biden Administration has set for stating repurchases of crude for the emergency crude oil reserve.$75 by Christmas.
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.
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.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.
Shortage depends on where Big Oil spends their money.Could this shortage be because of the refineries switching over from Summer to Winter blends??
well the 25 days till we out, is only if all production stopped.The diesel market is in a perfect storm as prices surge, supply dwindles ahead of winter
Diesel prices are surging with supply at a level not seen since the 1950s and a ban on Russian refined products will lead to greater competition for the fuel.www.cnbc.com
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.
LOL, MF wanted to raise taxes on oil companies anyways..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.
They are literally retarded.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".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 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.
WTI Crude • | 87.02 | +0.49 | +0.57% |
Brent Crude • | 94.83 | -0.94 | -0.98% |