Sorry, that was a pretty bad oversight on my part. I should have caught that. Ironically I was watching my stocks and distracted. Yes, the inflation adjusted price is $6.03. Even so the point is the same. Gasoline is cheap. And no Mr. Mustard, I was not arguing for government control. That was the point. The only way for a president to accomplish halving gasoline prices unilaterally would be through nationalization and subsidies.
peacefulpete
JoinedPosts by peacefulpete
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
peacefulpete
$4.11 in 2008 equates to $31.89 in 2024. The fact is gas is cheap. The system works pretty well to isolate prices from typical inflation rates.
Inflation Calculator | Find US Dollar's Value From 1913-2024
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
peacefulpete
Gasoline prices peaked at average of $4.11 July 2008. Propane was over $4/gallon. I mistyped 'oil' when I meant propane/lp. Regardless the point is that the President has very little to do with petroleum prices as they are determined globally.
The economic reality is that if investors feel that they are not going to get an ROI, they don’t invest, ....
Not sure if you are talking about stock prices or product prices. They are not the same. Stock prices are speculative, and investor driven. Oil prices are reactive, and producer and consumer driven.
The holding of unused leases absolutely does provide investor confidence for future potential and has an impact upon stock prices. Oil companies have rebuffed the notion that they are deliberately holding back production. Like most things the truth is in the middle. The holding of unused leases is a benefit financially AND a result of market conditions. Companies continue to accumulate leases when they are already holding many more than they presently need. This is not a conspiracy, it is business in an industry of finance and perception. Perhaps my last comment was not nuanced enough.
The problem (again if there actually is one) is not availability of land leases, nor BLM permitting, as is often tossed around, it is a reality that oil has costs to produce and distribute and oil prices are fixed globally.
Another reality, in Texas for example 90% of production (and leases) is on private land, actually most of the best reserves are also on private land. The 10% on Federal land are therefore a smaller factor than many believe.
Oil companies are not going to survive if they are forced to produce more than the market supports, nor will they survive if they are forced to sell only to domestic buyers at a discount. As I said earlier, those measures would require a nationalization (government takeover) of the industry and cost billions in subsidies.
In addition, labor shortages are also a factor according to this article. Why oil companies aren't drilling on those 9,000 land leases - Marketplace
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
peacefulpete
On the ironic side, when the macroeconomic outlook is shocked, the price of oil has often collapsed. There was a brief time during the pandemic that oil was essentially $0. There was no market. The lockdowns created such a glut that the market folded. It also bottomed in 2008 with the market crash. Given that history, who knows what the next few years will produce. With the promised rescinding of EV incentives and clean energy investment, it is possible oil prices will spike again, but if the larger market destabilizes and inflation returns as most are predicting, it's anyone's guess.
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
peacefulpete
Anony mous.....This was hashed in detail on this board years ago. Obama began demanding that oil leases be used or they would be voided. The game was/is for oil companies to hold leases without intent to use for accounting reasons. It enables the books to appear better for favorable loans and investor potential. It ultimately becomes a control over the market as well. The same issue has returned to the public attention under Biden.
The reality is that presently oil companies are sitting on 6-7000 Federal land leases and have no interest in exploring them, as they benefit from holding them and do not wish to glut the market through over production. The issue is not making leases available, the issue, if there really is one, is capitalism.
As far as Obama's and Trump's effect on oil production:
The number of producing acres and leases on federal lands was about consistent between the two administrations' final fiscal years in office.
, gas permits, leases surged from final Obama year through Trump years | S&P Global Market IntelligenceThe Keystone XL pipeline. is not domestic oil, it is designed to facilitate the transfer of Canadian oil to Nebraska where is then goes to the Gulf to refineries that can deal with the low-grade/heavy oil. 2/3rds of which will be exported by the oil companies to other markets. None of this results in lower costs to Americans or anyone. It simply facilitates trade. As the State Dept made clear last year:
"As the final Supplemental Environmental Impact Statement makes clear, gas prices throughout the United States are primarily driven by global market factors," a spokesperson said. "The amount of Western Canada Sedimentary Basin (WCSB) crude that makes its way to the Gulf region does not change this dynamic. Any impact on prices for refined petroleum products resulting from the approval and construction of the Keystone XL pipeline would be minimal."
Even with an honest portrayal of the risks and rewards, not everyone will agree about the pipeline as people value things differently.
Recall that gas and oil prices soared (over 4$ for both here) under Bush Jr.
As suspicious as it looked for that that to happen under the presidency of a family so well connected with the oil industry, the reality is the market disruptions of Iran, Nicaragua and Brazil created the spike in prices much like how the Russian/Ukraine war, the Israel/Iran tensions are today. US oil companies and brokers have a fiduciary duty to shareholders to make as much profit as possible. When the rest of the world's oil prices went up the prices for domestic oil followed. That will not change because of more federal land being sold as leases for oil drilling.
-
22
PREPARE TO GET PELTED BY SYMBOLIC HAILSTONES
by raymond frantz inhttps://youtu.be/idhmflud3p4?si=9xc4svrhxslduwvz.
so david schafer a member of the teaching commitee and a helper to the governing body has come out yesterday with a new video that goes through the king of the north, the hailstones message and other things in the wake of the possibility of a ww3 and especially now that tensions are escalating with russia so he is making quite a few end time arguments and i will be expanding on those one by one but today let's see what he has about the hailstones message of the end(video) so this is the paragraph in question, paragraph 14 from article 20 of the watchtower 2020 study edition: "sometime after the start of the great tribulation, “the kings of the entire inhabited earth” will form a coalition of nations.
(rev.
-
-
peacefulpete
Apoc. of Abraham: And He said to me: “What is desired in thine heart I will tell thee, because thou hast sought to see the ten plagues which I have prepared for the heathen and have prepared beforehand at the passing over of the twelfth hour of the earth. Hear what I divulge to thee, so shall it come to pass: the first (is) pain of great distress; the second, conflagration of many cities; the third, destruction and pestilence of animals ; the fourth, hunger of the whole world and of its people9 ; the fifth by destruction among its rulers, destruction by earthquake and the sword; the sixth, multiplication of hail and snow; the seventh, the wild beasts will be their grave; the eighth, hunger and pestilence will alternate with their destruction; the ninth, punishment by the sword and flight in distress; the tenth, thunder and voices and destructive earthquake.
1 Enoch: 14.8 And the vision appeared to me as follows: Behold, clouds called me in the vision, and mist called me. And the path of the stars, and flashes of lightning, hastened me and drove me. And, in the vision, winds caused me to fly, and hastened me, and lifted me up into Heaven.14.9 And I proceeded until I came near a wall, which was made of hailstones, and a tongue of fire surrounded it, and it began to make me afraid.14.10 And I went into the tongue of fire, and came near to a large house, which was built of hailstones, and the wall of that house was like a mosaic of hailstones, and its floor was snow.14.11 Its roof was like the path of the stars, and flashes of lightning, and among them were fiery Cherubim, and their sky was like water.14.12 And there was a fire burning around its wall, and its door was ablaze with fire.
81: And I saw the four angels who have the power to bring the destruction of the world, and I saw the destruction of the great hail, which fell from the sky. And they took their stand at the gates of heaven, and they gave orders to the heavenly hosts to bring forth the winds of destruction."
2 Baruch: And the heavens shall be opened, and the mighty ones shall come forth from their dwelling places, and hail shall fall upon the earth, and the earth shall be filled with the sound of thunder and the voice of the great wrath."
Sib Oracles: And the heavens shall fall, and the mighty hail shall descend on the earth, and the sun shall be darkened.
Test. of Naphtali: I will call down upon them a storm of hail and will send down upon them a great fire."
Jubilees: And the Lord sent a great hailstorm upon the earth, and the children of Noah were afraid."
Unsurprising there was a recurring storm motif including the use of hailstones from heaven to destroy God's enemies among apocalyptic writers.
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
peacefulpete
Clinton, Obama and Biden needed oil to fund their environmental policies of no-drilling and Russia is a giant gas station with a country attached to it.
The US is the largest producer of oil in the world and has been energy independent for a number of years. The US produces about 50 times the oil the EU does. Oil corporations presently import and export oil as part of a larger matrix of market conditions and international relations, not because of necessity due to demand. Unless the US nationalizes the oil/gas industry that is not going to change. The market price for oil is globally set (with localized variables, shipping costs are a factor as well) and no one country's policy can alter it significantly. If the US decides to somehow coerce domestic oil companies to produce more oil and sell on global market they will need to be subsidized to make up for loss of profits in the short term. I say short term because, any drop in market prices will soon result in foreign oil producers lowering production so as to return the market price to a profitable one. Every market expert has said selling more permits on public land will not significantly or lastingly reduce prices for oil. It is a political catch phrase (drill drill drill) that Republicans have used effectively.
Interestingly, the Biden administration banned these oil brokers and corporations from importing oil and coal from Russia in 2022. Before that, the government did not prevent corporate choice to buy from Russia when it resulted in greater profits while simultaneously exporting domestically produced petroleum.
In short, the EU dependence on Russian gas/oil is a serious concern, hence efforts to efforts to find new suppliers and become energy independent through other technologies is vital to the region. There has been significant progress in that direction, but it takes time to eliminate completely. Presently about 1% of oil and 18% of EU gas demand is supplied by Russia. Presently about 20% of EU petroleum is imported from the US. The US does not need Russian oil or gas. Also interesting is the fact that EU brokers presently still purchase Russian oil for reexport to other global markets. So far, the EU has not followed the US in banning the practice.
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
peacefulpete
I agree it is a mess no matter how you look at it.
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
peacefulpete
I'm reassured by public statements by China that call for restraint. Honestly I slightly question if China might not be wishing to see a weakened Russia. It wasn't that long ago that they were at war.
-
44
President-Elect Trump Tears Into Biden For Making World 'Vastly Dangerous'; World War 3 Warning!
by Esoteric inlive streaming i trump tears into biden for making world 'vastly dangerous'; world war 3 warning!!!
(times of india).
u.s president elect donald trump tears into joe biden for having made the world more dangerous than ever before with the threat of world war 3 closer than ever before.
-
-
peacefulpete
Russia is already firing deep into Ukraine and Ukraine has already used its own few long-range weapons into Russia. Russia is upset that this adjustment by Ukraine's allies complicates their strategy. The word 'escalation' is slippery. It could easily be used, and was used, by Russia as soon as Ukraine resisted occupation. Is effective resistance 'escalation'? depends upon who side you ask. Russia is not concerned about its 'escalation' of the war, by securing N.Korean soldiers and weapons. Iranian weapons as well. It is upset that their aggression is being effectively countered in response.
I'm not an armchair general, but I can see when language is tooled as propaganda. It seems apparent that Russia is stretched to the point of asking for foot soldiers. Putin appears to be waiting for the West to just roll over and let him keep the strategically important and resource rich areas he has invaded. The recent adjustment is not a 'game changer' in the sense of bringing a swift end to the war. Ukraine is still in a fight for its life. Its allies have simply given it new options.