Oil & The Economy

[Dublin ohio]

Cheerless Christmas

No, cheerless people. I had all 10k of my lights up

 

[Fernando]

No, cheerless people. I had all 10k of my lights up

You must be the envy in your neighborhood.

 

[Terrel L. Shields]

My 3' tall plastic tree - a marvel of science made from petrochemicals no doubt. Reminds me, wind took half of an old maple down. The tree has never been good and now I need to cut down the rest of it. I've not started my chainsaw for 4 years. I need to sell it and buy an electric one since I cannot work more than 10 minutes bent over anyway. I got rid of my leaf blower and weed eater for the same reason. Spent more time trying to get the stupid thing to start than actually using it. There is a place for battery powered equipment...just not tractors and semi-trucks.

 

[Mike Ault]

mpacts of an Israeli Strike on Iran's Oil Sector || Peter Zeihan​

 

[Terrel L. Shields]

Prices are at $75 and that's going up and down by 10% literally overnight. But demand is low and supply is high. The drilling rigs are slowing down and that has an impact on prices six months down the road. Until Russia-Ukraine and Middle East tensions ease, oil is going to stay relatively high to what it can be. But OTOH, today's gasoline prices are a buck cheaper than in 2015 and the same price as 2005 prices.

 

[Fernando]

Prices are at $75 and that's going up and down by 10% literally overnight. But demand is low and supply is high. The drilling rigs are slowing down and that has an impact on prices six months down the road. Until Russia-Ukraine and Middle East tensions ease, oil is going to stay relatively high to what it can be. But OTOH, today's gasoline prices are a buck cheaper than in 2015 and the same price as 2005 prices.

When you have EV cars, you don't worry about ups and downs of gas prices. Very nice.

 

[Fernando]

Newsom signed a bill today (takes effect next year) requiring oil companies to keep minimum reserve of gasoline so those greedy oil companies can't increase gas prices when supply is low.
Hope that would keep prices from going so high.
CA has highest gas prices in nation at $4.69.
If only the politicians cut down those gas taxes.

 

[Terrel L. Shields]

requiring oil companies to keep minimum reserve of gasoline

I hope every oil company shutters their gas stations and shut in their wells. Let them virtue signal in the dark.

 

[Fernando]

I hope every oil company shutters their gas stations and shut in their wells. Let them virtue signal in the dark.

If they do, I can see Newsom "nationalize" them.

 

[Terrel L. Shields]

If they do, I can see Newsom "nationalize" them.

Let him. Then see if he knows how to drill and pump oil.