Gas prices are out of control!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought they were supposed to be lowering gas prices??

I can hardly believe how much more money it costs me just to fill up the tank now.

When are they going to do something about this ? (something that actually works this time, please).

lol. They are going much much higher There is nothing to be done in the short term. More oil would help. But dems do not want that.

The US alone can't budge gas prices, which is largely based on the global oil price. US oil producers alone can't produce enough additional oil to impact global prices.

Even if Biden were to release a significant amount of the US oil reserves (I don't think this situation merits it), it would be meaningless without timing it with other countries. Given Europe's situation, that's not going to happen.

This.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought they were supposed to be lowering gas prices??

I can hardly believe how much more money it costs me just to fill up the tank now.

When are they going to do something about this ? (something that actually works this time, please).

lol. They are going much much higher There is nothing to be done in the short term. More oil would help. But dems do not want that.

The US alone can't budge gas prices, which is largely based on the global oil price. US oil producers alone can't produce enough additional oil to impact global prices.

Even if Biden were to release a significant amount of the US oil reserves (I don't think this situation merits it), it would be meaningless without timing it with other countries. Given Europe's situation, that's not going to happen.

This.

Wrong. In Feb. 2020, the US was producing 13.1 million barrels a day. The US is now producing about 11.6 million barrels a day. Russian oil exports have dropped by about 900,000 barrels a day. We have the potential to make up that shortfall. Keystone XL Pipeline alone would have carried 830,000 barrels of oil per day.

[Anonymous]

I live in SoCal where gas ⛽️ has been $6/gallon since forever.

[Anonymous]

I thought we all WFH

[Anonymous]

Glad I have an e-bike and an electric hybrid SUV.

[Anonymous]

I think you meant to say, glad I can afford an ebike and electric hybrid. The stunning hubris of some people. The “I can afford this what’s your problem” attitude is just setting us up for (more) civil unrest. I can’t afford to pay gas to get to my crappy job that doesn’t pay me enough to live and then have to listen to why this issue is all my fault and needs to happen. How do you think this is going to have a happy ending? Remember when we cared about all people, or maybe we never did.

[Anonymous]

Anonymous wrote:I think you meant to say, glad I can afford an ebike and electric hybrid. The stunning hubris of some people. The “I can afford this what’s your problem” attitude is just setting us up for (more) civil unrest. I can’t afford to pay gas to get to my crappy job that doesn’t pay me enough to live and then have to listen to why this issue is all my fault and needs to happen. How do you think this is going to have a happy ending? Remember when we cared about all people, or maybe we never did.

Anyone with a job can buy a bike, give me a break. There are affordable hybrid cars that cost far less than gas guzzler trucks. There are buses. And trains.

If we actually cared about people then we would invest in public transportation. Isn’t it pretty insane to design a society where you must purchase a depreciating asset that costs upkeep and fuel just to have a job? Shouldn’t your hostility be focused on THAT and not just people like me who have adapted to the current situation?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought they were supposed to be lowering gas prices??

I can hardly believe how much more money it costs me just to fill up the tank now.

When are they going to do something about this ? (something that actually works this time, please).

lol. They are going much much higher There is nothing to be done in the short term. More oil would help. But dems do not want that.

The US alone can't budge gas prices, which is largely based on the global oil price. US oil producers alone can't produce enough additional oil to impact global prices.

Even if Biden were to release a significant amount of the US oil reserves (I don't think this situation merits it), it would be meaningless without timing it with other countries. Given Europe's situation, that's not going to happen.

This.

Wrong. In Feb. 2020, the US was producing 13.1 million barrels a day. The US is now producing about 11.6 million barrels a day. Russian oil exports have dropped by about 900,000 barrels a day. We have the potential to make up that shortfall. Keystone XL Pipeline alone would have carried 830,000 barrels of oil per day.

Keystone XL won't open until 2030, if it was approved. How does that affect gas prices today?

I think you hit the crux of the problem: COVID-driven shutdown of wellheads has not yet recovered. When oil went to -$30 per barrel under Trump, so many drillers went bankrupt or severely contracted. It took only one week to stop pumping, but will take years to reopen all of them. Additional federal leases or Keystone XL won't solve this problem. And, of course, Saudis/OPEC and Russia's invasion of Ukraine just made the situation worse.

If I were Biden, I'd hammer out oil deals with Iran/Venezuela ASAP and offer big incentives for any drillers who reopen existing wellheads within 30 days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$6.79 a gallon here. Stop complaining.

Where is that?

Southern California.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oh, now its a problem? We've been warning about gas prices for 6+ months. And when the MD + VA governors proposed gas tax holidays the democrats literally canceled them.

We’re not in favor of subsidizing oil company profits- guilty as charged! Free market baby. Still much lower on an inflation adjusted basis than previous years.

Don't think so, see below, even for inflation adjustments, we're currently on the higher side, but I guess the question is if this is short term blip or a new higher price plateau for the prices



https://inflationdata.com/articles/inflation-adjusted-prices/inflation-adjusted-gasoline-prices/

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought they were supposed to be lowering gas prices??

I can hardly believe how much more money it costs me just to fill up the tank now.

When are they going to do something about this ? (something that actually works this time, please).

So not such a fan of the free market anymore, eh? Maybe you socialists can ride your bicycles or the bus.

Free market. Hmmm. Maybe research the tax subsidies that the oil industry receives.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought they were supposed to be lowering gas prices??

I can hardly believe how much more money it costs me just to fill up the tank now.

When are they going to do something about this ? (something that actually works this time, please).

lol. They are going much much higher There is nothing to be done in the short term. More oil would help. But dems do not want that.

The US alone can't budge gas prices, which is largely based on the global oil price. US oil producers alone can't produce enough additional oil to impact global prices.

Even if Biden were to release a significant amount of the US oil reserves (I don't think this situation merits it), it would be meaningless without timing it with other countries. Given Europe's situation, that's not going to happen.

This.

Wrong. In Feb. 2020, the US was producing 13.1 million barrels a day. The US is now producing about 11.6 million barrels a day. Russian oil exports have dropped by about 900,000 barrels a day. We have the potential to make up that shortfall. Keystone XL Pipeline alone would have carried 830,000 barrels of oil per day.

Keystone XL was to transport Canadian tar sands crude to US for refining and export. The gasoline would never reach US fuel pumps.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought they were supposed to be lowering gas prices??

I can hardly believe how much more money it costs me just to fill up the tank now.

When are they going to do something about this ? (something that actually works this time, please).

lol. They are going much much higher There is nothing to be done in the short term. More oil would help. But dems do not want that.

The US alone can't budge gas prices, which is largely based on the global oil price. US oil producers alone can't produce enough additional oil to impact global prices.

Even if Biden were to release a significant amount of the US oil reserves (I don't think this situation merits it), it would be meaningless without timing it with other countries. Given Europe's situation, that's not going to happen.

This.

Wrong. In Feb. 2020, the US was producing 13.1 million barrels a day. The US is now producing about 11.6 million barrels a day. Russian oil exports have dropped by about 900,000 barrels a day. We have the potential to make up that shortfall. Keystone XL Pipeline alone would have carried 830,000 barrels of oil per day.

The decline was due to the Trump-brokered agreement to ramp down production. Keystone was tax sands oil bound for the Asian market. Wouldn’t have affected domestic supply.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought they were supposed to be lowering gas prices??

I can hardly believe how much more money it costs me just to fill up the tank now.

When are they going to do something about this ? (something that actually works this time, please).

lol. They are going much much higher There is nothing to be done in the short term. More oil would help. But dems do not want that.

The US alone can't budge gas prices, which is largely based on the global oil price. US oil producers alone can't produce enough additional oil to impact global prices.

Even if Biden were to release a significant amount of the US oil reserves (I don't think this situation merits it), it would be meaningless without timing it with other countries. Given Europe's situation, that's not going to happen.

This.

Wrong. In Feb. 2020, the US was producing 13.1 million barrels a day. The US is now producing about 11.6 million barrels a day. Russian oil exports have dropped by about 900,000 barrels a day. We have the potential to make up that shortfall. Keystone XL Pipeline alone would have carried 830,000 barrels of oil per day.

The decline was due to the Trump-brokered agreement to ramp down production. Keystone was tax sands oil bound for the Asian market. Wouldn’t have affected domestic supply.

Can you tell us more about that? Was this some sort of agreement struck with MBS and OPEC?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think you meant to say, glad I can afford an ebike and electric hybrid. The stunning hubris of some people. The “I can afford this what’s your problem” attitude is just setting us up for (more) civil unrest. I can’t afford to pay gas to get to my crappy job that doesn’t pay me enough to live and then have to listen to why this issue is all my fault and needs to happen. How do you think this is going to have a happy ending? Remember when we cared about all people, or maybe we never did.

Anyone with a job can buy a bike, give me a break. There are affordable hybrid cars that cost far less than gas guzzler trucks. There are buses. And trains.

If we actually cared about people then we would invest in public transportation. Isn’t it pretty insane to design a society where you must purchase a depreciating asset that costs upkeep and fuel just to have a job? Shouldn’t your hostility be focused on THAT and not just people like me who have adapted to the current situation?

A bike, or an Ebike--because you were just bragging about having an Ebike.

An E-bike costs thousands of dollars. Bikes are not able to go on freeways, so anyone with a freeway commute (or even a commute on a road with no bike path) can not use it to get to work.
Some people work jobs where they need to carry specific equipment--depending on the size/amount of equipment, they might not be able to carry it on a bike. If they have to drop children off at school/daycare before heading to work, this is not possible on a bike.