Oil Price Increases After Biden Shuts Down Drilling Permits Again

[Terrel L. Shields]

I'm still driving around.

How many miles do you drive in a year?

I was driving 30,000 just business miles annually until I semi-retired. Today I drive about 20K annually. I own 3 cars, none with less than 100,000 miles on them.

 

[IlliniApp]

I'm still driving around. Just came back from cutting my monthly haircut. I drive 30 minutes away to have my favorite haircutter cut my head.
Afterward went to this bakery with a long line. Had to try the buns why people willing to wait for so long. Bought a boxful.
Since I was there, I drove another 10 minutes to check on my new Mexican restaurant tenant which just recently opened.
They work as a family doing the cooking, waitering, remodeling, and such. It saves them lot of money and government regulations of payrolling and contractor fees.
They even had a relative painted the walls with Mexican art work. Nice. More authentic than Chipotle.
Before I wasn't sure of renting to him because in when he was young in Facebook, he looked like a gangbanger.
Seems like he changed having a family to take care of. He's future look bright and hopefully can rent my other vacant space.
I'm glad people can change.

 

[Fernando]

I am so touched tears came to my eyes -Now how much free food did you extort from him and his family or Landlord Discount was applied ? Dont lie you always have an-angle to pretend you are the nice guy but when all the truth comes out its always about you.

I paid & gave high tip for the food today. I don't expect free food. I wanted to try the food today and give it a great review on social media for everyone to come.
Only when they do well, then I'll come more often.

 

[glenn walker]

I paid & gave high tip for the food today. I don't expect free food. I wanted to try the food today and give it a great review on social media for everyone to come.
Only when they do well, then I'll come more often.

Tell us when the first rent check doesn't come in so we can all have a good laugh- Their food prices go up and they suddenly discovered the more tacos they sell the more money they are losing . Worse is they pour oil and grease down sinks and toilets because thats how they do taught to do it. Get prepared for some serious main line problems coming to you soon and it effects the entire building .

 

[Zoe]

NO. The 'wells" did not go out of business". They kept producing. Production dropped as the wells produced less. And wells naturally produce less from month to month year to year with rarest exception.

When things get expensive, people use less of it. People are driving much less. The world likewise has recognized we are still producing a lot of oil. Russia is selling the oil that we pretend we are embargoing to India and China. Then the oil China and India used to buy from others is sold somewhere else. The thing driving oil "down" is supply and demand. Less demand, more supply and lower price. And it is in a trading range well above where it was a year ago. The fact it spiked was people thinking Russia would not be able to sell their oil. They have plenty of oil and Russia has the EU over a barrel (of oil) and a pipeline to boot. Wait until December when Russia toys with Europe mid - winter. They will put the hurt on Europe. And the Germans laughed at Trump for telling them they were too beholden to Putin. So I wonder what the German Defense Minister thinks now.

There is plenty of oil in USA to supply our needs. Plenty to export. I thought you had some geology education. Lol

 

[glenn walker]

There is plenty of oil in USA to supply our needs. Plenty to export. I thought you had some geology education. Lol

Why continue to make yourself look like even a bigger uneducated fool. Terrill knows oil and gas and spent years in that field. You are a guy who purchased a weed wacker and didn't even know if it was a 2 stoke where you mix the gas and oil or a 4 stroke . This oil and gas discussion is way over your head. Get into the Jan-6 hearings thread or the one about Dogs or abortions.

 

[IlliniApp]

Gas consumption plummets last week.


Ethanol production also down sharply by 3.7%. Ethanol producer margins fall to 18 cents/gallon, down over 50%.

 

[Terrel L. Shields]

There is plenty of oil in USA to supply our needs. Plenty to export. I thought you had some geology education. Lol

You don't know your donkey from hole in the ground about oil...Look at the production numbers. Bet you have to look up the difference between Reserves and Proven Reserves - Resources and production. Secondly, "liquids" we produce with fracking are light -propane butane, pentanes, etc. stuff you don't put in gasoline in summer. We have to buy Nigerian, Brent or other crude oils that are better attuned to making gasoline.
You lack of knowledge about the energy industry is appalling but you are typical. Pie in the sky and cannot figure out why.

 

[Zoe]

I got gas at Sam's today for $3.85 a gallon. I'm looking for $3.00 or less a gallon soon. I do believe the USA has enough oil to be self sufficient. Idk about Europe. I hope Biden's trips overseas help the situation more. I want $2 a gallon gas.

So many things are tied to fuel prices on inflation. How stupid can people be not to realize that?

Idk. Let's just call a witness and try to tamper with them. That's about as stupid as not realizing how fuel prices are tied to inflation.

 

[Fernando]

I got gas at Costco at $5.45/gallon today which was higher than $5.29/gallon few days ago. Prices fluctuate as expected from last week from $96 to $105 and now back to $96 so I expect gas to drop again. Never seen such volatility in gas prices.