Anonymous wrote:

Anonymous wrote:

Yikes! That adds up.

It does. But hopefully it creates some pressure on Trump to end this war. A big part of MAGA lives in rural and small town America and drive enormous distances every day. And they’re not driving EVs. MAGA is feeling these prices more than anyone else is. It’s very expensive driving a lifted pick up truck every day.

Anonymous wrote:

Yikes! That adds up.

Expect higher food prices, too, due to diesel prices going up. Truckers and farmers are being hit.

https://www.yahoo.com/finance/news/lasting-surge-diesel-prices-batter-215256950.html

All for Israel. yay. /s

Another reason to go solar, and allow personal solar panels. This war clearly shows how the reliance on oil can create havoc for countries. Other countries have realized this and so are trying to wean themselves off on the reliance on oil. Not the US, though. We're controlled by oil barons and billionaires, and the likes of the Trumps who are getting rich off the war.

https://www.npr.org/2026/03/12/nx-s1-5737287/solar-panels-utilities-energy-saving

It is $3.99 in parts of MoCo

Anonymous wrote:

What happened to the other 52%? Are they children who do not understand, demntia patients who do not remember, or just plain stupid?

JPM just advised investors to short the market, except gas and oil, until the Straits are opened again.

I know this thread is for oil and gas, but we should also be thinking about the impact on petroleum derivatives. Primarily, plastics. A short supply would be devastating. As much as we all hate it and how terrible it is for the environment, we are entirely reliant on it. Anything from shampoo bottles to syringes.

Diesel is up to $4.86 per gallon.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Don't worry, at least there was a resolution passed around 15-20 years ago by Congress that states if there's ever a global oil crisis/shortage, israelis will get US reserves before Americans do.

Wonder how many Americans know about that law.

No way this is true?

Looked this up and it seems like it expired in 2014. So true but false.

From the Reuters article I found from 2014, it says that a new agreement was being worked on after it had expired. But I don't know if it was ever signed since I can't find any reference to a current agreement.

Also, the article states that the agreement says that the US will provide oil to Israel "provided it has enough oil for its own use".

https://www.reuters.com/article/world/us-politics/us-government-working-to-renew-oil-agreement-with-israel-idUSKCN0J92EP/


https://www.reuters.com/article/world/us-politics/us-government-working-to-renew-oil-agreement-with-israel-idUSKCN0J92EP/

Anonymous wrote:

Anonymous wrote:Don't worry, at least there was a resolution passed around 15-20 years ago by Congress that states if there's ever a global oil crisis/shortage, israelis will get US reserves before Americans do.

Wonder how many Americans know about that law.

No way this is true?

Looked this up and it seems like it expired in 2014. So true but false.

Anonymous wrote:

Anonymous wrote:The straight has been closed for 8 day. That is 160 million barrels of oil deficit. The US is releasing 172 million over 4 months. 1.4 million barrels a day.

All in the group of countries are releasing 400 million barrels. If they have the capacity to release the same amount as the US, it’s 3.3 million barrels a day vs 20-21 million that normally flow through the straight.

Is it time to buy some oil futures?

If they are releasing over a 120 day/4 month period, does that not imply that they think this issue will not be resolved anytime soon? Otherwise there would be an unnecessary oversupply towards the end of the period.

No. They are clueless. There is a physical limit to how much can be released. If you say you will release 100 barrels and the plumping only allows one barrel a day to be released it will take 100 days to release the oil. The world is running a 16-17 million barrel a day deficit. The release is too little.

Word is Israel’s attack on Iranian oil infrastructure destroyed Iran’s oil production. This is 3.3-3.6 million barrels a day. That is the same or a little higher vs the pre war world oil surplus. The surplus was why oil was at $58 a barrel pre war. If this is true(Iranian oil infrastructure damaged) prices will remain high after the war is over for a year or two. Demand will exceed surplus.

Anonymous wrote:Don't worry, at least there was a resolution passed around 15-20 years ago by Congress that states if there's ever a global oil crisis/shortage, israelis will get US reserves before Americans do.

Wonder how many Americans know about that law.

No way this is true?