Price Check in the Gas and Diesel Aisle...

#1,001
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.

oilprice.com

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 storm
oilprice.com oilprice.com
 
#1,002
Hobo Hilton said:
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.

oilprice.com

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 storm
oilprice.com oilprice.com
Click to expand...

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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#1,003
Tx_Aggie said:
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.
Click to expand...
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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#1,021
babyguppy said:
91 octane at Costco ..4.09 as of 9/2/22
Click to expand...
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
 
#1,024
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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#1,025
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#1,026
BullGear said:
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....
Click to expand...

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.
 
#1,027
E. Bryant said:
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.
Click to expand...

You don't believe they will try to open up the oil fields in the US?
 
#1,028
E. Bryant said:
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.
Click to expand...
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

Rig Count Overview & Summary Count | Baker Hughes Rig Count

The Investor Relations website contains information about Baker Hughes Rig Count's business for stockholders, potential investors, and financial analysts.
rigcount.bakerhughes.com rigcount.bakerhughes.com
 
#1,030
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....
oilprice.com

Valero Posts Bumper Q3 Profit As Demand For Its Fuels Exceeds 2019 Levels | OilPrice.com

Valero Energy beat analyst expectations for the third quarter thanks to strong product demand and solid refining fundamentals
oilprice.com oilprice.com
 
#1,033
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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#1,037
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.

 
#1,039
Hobo Hilton said:
www.cnbc.com

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 www.cnbc.com
Click to expand...
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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#1,040
babyguppy said:
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.
Click to expand...

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.
 
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#1,042
Hobo Hilton said:
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.

www.cnbc.com

Biden threatens higher taxes on oil companies if they do not work to lower gas prices

www.cnbc.com www.cnbc.com
Click to expand...
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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#1,044
babyguppy said:
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.
Click to expand...
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".

1667261236804.png
 
#1,045
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