Gas is up

[Anonymous]

Prices are down today.

[Anonymous]

Anonymous wrote:Prices are down today.

Not by me. Richmond area. Up $0.50 since last week. Most places are around $3.89.

[Anonymous]

Me neither. Up 25 cents since Friday. Fully a dollar more than a month ago. And this is only the beginning. It will take years to get back to 2.75.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Trump could push American gas prices down immediately by banning oil exports. But he won’t do that because his oil and gas buddies are making bank at our expense. Bet he’s getting some kickbacks from them too.

Can't he just buy the extra and use it to replenish the strategic petroleum reserve?

The time to replenish the SPR was two months ago when they were a) bragging about how low prices were (and exaggerating by about a dollar per gallon) and b) planning a war in the Middle East.

[Anonymous]

Anonymous wrote:Prices are down today.

Powerful argument with copious evidence. I’m so impressed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump could push American gas prices down immediately by banning oil exports. But he won’t do that because his oil and gas buddies are making bank at our expense. Bet he’s getting some kickbacks from them too.

Can't he just buy the extra and use it to replenish the strategic petroleum reserve?

The time to replenish the SPR was two months ago when they were a) bragging about how low prices were (and exaggerating by about a dollar per gallon) and b) planning a war in the Middle East.

They didn't prepare for this stupidity at all.

[Anonymous]

Scott Walker showing absolutely no self awareness as usual

[Anonymous]

Liberty, the lowest in Arlington, was $3.99 today

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump could push American gas prices down immediately by banning oil exports. But he won’t do that because his oil and gas buddies are making bank at our expense. Bet he’s getting some kickbacks from them too.

Can't he just buy the extra and use it to replenish the strategic petroleum reserve?

The time to replenish the SPR was two months ago when they were a) bragging about how low prices were (and exaggerating by about a dollar per gallon) and b) planning a war in the Middle East.

There was a plan?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump could push American gas prices down immediately by banning oil exports. But he won’t do that because his oil and gas buddies are making bank at our expense. Bet he’s getting some kickbacks from them too.

Can't he just buy the extra and use it to replenish the strategic petroleum reserve?

The time to replenish the SPR was two months ago when they were a) bragging about how low prices were (and exaggerating by about a dollar per gallon) and b) planning a war in the Middle East.

There was a plan?

They moved aircraft carriers from Venezuela to Iran, so they knew something was going to happen.

[Anonymous]

Anonymous wrote:Liberty, the lowest in Arlington, was $3.99 today

I remember gas being $4 per gallon back in 2008 or 2009, and at the time it was considered expensive. With inflation now it’s still cheaper than it was then.

[Anonymous]

We are over here wasting billions in taxpayer dollars so that a pedophile can appease his supervisors into not releasing information about him by attacking a country and thereby rising the prices of a product that we need not really rely on in the first place.

Meanwhile, in China:

“China deploys solar power stations that unfold like a carpet and start generating electricity within hours.

These are real, containerized folding photovoltaic power stations, already in use at construction sites, disaster zones, and remote locations across China.

And it is deployed in under two hours with six workers.

While China invented this, America was busy watching its solar companies go bankrupt.“

-The stock market.news

Has there ever been a quicker collapse of a first world society? Another Trump record, I guess.

[Anonymous]

I went to grocery store today and bought essentially the same staples I buy every week.and comparing last week to this week, $31 higher this week and I bought no meat or alcoholic beverages.

[Anonymous]

Crazy analysis from BCA Research, the worst is yet to come because we are currently mitigating impact with strategic reserves/surpluses/oil still in transit:

Over the past few days, BCA’s GeoMacro team has talked to several such firms – men and women who “count the molecules” – to produce Diagram 1. It is confusing, we admit. But it is the best that our collective wisdom could produce. It suggests that from February 28 to about April 19, the world is dealing with roughly a 4.5-5mb/d deficit of oil supply due to the closure of Hormuz, or 5% of global oil consumption.

For now, that number is manageable and fits somewhere in the “middling” range of crude supply losses over the past half-a-century (Chart 1). However, according to the conversations we had with energy experts and traders, as well as our own calculations, that number will double by mid-April, becoming the largest loss of crude supply.
....
Diagram 1 therefore suggests that, by mid-April, the world will be missing 9% of total crude supply. That is about half of the demand destruction experienced during the pandemic (Chart 2). Allow us to repeat that statement. By mid-April, the world will lose the equivalent number of crude supply that mirrors half of the loss of demand incurred while we were all hiding in our homes, hugging our loved ones, and hoarding spare toilet paper rolls for comfort.
....
The bottom line for us is that time is running out on the economy. All that President Trump has managed to muster for the next few weeks of potential kinetic action are 8,000 troops. Elite, for sure. But a minuscule number in comparison with past military operations in the region. That skews the risks for the White House towards a Jimmy Carter-like “Operation Eagle Claw” disaster.
....
In conclusion, we now have sufficient information to conclude that the world will approach the R Point (a supply-side induced recession) from Diagram 2 by mid-April.

[Anonymous]

I’ve also seen multiple analysts indicate that the market is still expecting Trump to pull out so prices aren’t as high right now as they rightfully should be.