Oil Price Increases After Biden Shuts Down Drilling Permits Again

[Zoe]

I got gas for $3.28 at Sam's this week. My wife was in Georgia for a few days. I think she got it for $3.19.

 

[Zoe]

On food prices, as this gas goes down, competitors will start lowering prices. Think about how much fuel it costs to deliver all this food and other consumer items. I have brother in law that owns a big company and they had to raise prices when fuel costs went up. But competition will cause lower prices as fuel costs go down. They will lower prices as fuel prices go down.

Fuel prices were part of what started the great recession. That and fraudulent loans.

 

[Zoe]

If I were Biden, I would still try to subsidize fracking for a short time until we all have to go electric or solar or something. But I know the drawbacks on ground water impacts and environmental concerns.

Fracking almost broke big oil companies and many small fracking companies did take bankruptcy. It drove oil prices down tremendously. Like $100 or more a barrel to $30 a barrel.

 

[DTB]

So what do you do if you can't afford gasoline, an EV, or even the lithium battery that is necessary for the EVs?

Learn to trade the sector?

 

[Terrel L. Shields]

he Fern is correct. Comfortable in CA is about 250k annual

Which is why they can sell out and arbitrage that cash into a far bigger newer house in Fly-over America, then commit themselves to a life of transforming that area into the same sort of ****hole they left in CA.

 

[OSU Beavers]

 

[Fernando]

Who the f* is this Michael?

 

[glenn walker]

On food prices, as this gas goes down, competitors will start lowering prices. Think about how much fuel it costs to deliver all this food and other consumer items. I have brother in law that owns a big company and they had to raise prices when fuel costs went up. But competition will cause lower prices as fuel costs go down. They will lower prices as fuel prices go down.

Fuel prices were part of what started the great recession. That and fraudulent loans.

Everyone is forgetting increased labor cots my Raid show is targeted toward long haul drivers, there years ago $45,00 a year for many today starting at $85,000 to $100,000 a year-- Wal-Mart $100,000 a year to sign up. Also maintenance , truck repairs , tires all up 30% to 40% in 24 months.

 

[IlliniApp]

Gasoline consumption jumps 9.8% last week, now slightly above last year at this time.

 

[Fernando]

Oil prices at around $94/barrel. Can't believe prices have fallen so fast.
Could it be heading below $90. Good times are coming.