Oh no...the price of oil is dropping. Who do we blame! :)

[WTF]

Originally Posted by Jacuzzme

Get back to me with Biden’s great energy accomplishment when its price anywhere near his predecessor.

It is entertaining tho, listening to NPCs cheer because gas is only $4.25.

Name anyone in the event sector who wants to see 1.50 gasoline...

[winn dixie]

Originally Posted by WTF

Name anyone in the event sector who wants to see 1.50 gasoline...

America does! Everything else is just look at me Im talking!!!!!!

[lustylad]

What's scarier... watching Biden fuck up our national energy policies? Or putting WTF in charge?


Biden’s Vast Oil Conspiracy

The President takes to Twitter to show what he doesn’t know about the retail gasoline market.

By The Editorial Board
March 16, 2022 6:39 pm ET


President Biden is adopting Donald Trump’s habit of venting his political frustrations on Twitter. “Oil prices are decreasing, gas prices should too,” Mr. Biden tweeted Wednesday. “Oil and gas companies shouldn’t pad their profits at the expense of hardworking Americans.” Sorry, Mr. President. There’s no vast industry conspiracy to raise gasoline prices.

Gas prices almost always rise faster than they fall, as the Federal Reserve Bank of St. Louis explained in a 2014 report. “When oil prices rise after being steady for some time—gasoline prices shoot up quickly,” the Fed paper explained. “In contrast, when oil prices fall after being steady for some time, gasoline prices retreat slowly.”

Individual retailers set gas prices based on what they expect their future fuel deliveries to cost. But they have no clue right now due to all of the global uncertainty. Oil prices have plunged this past week in part because the United Arab Emirates said it would urge OPEC to pump more. But the cartel might not.

Markets also forecast that China’s lockdowns, if they continue, will dampen global growth and fuel demand this year. But they may not. Ukrainian President Volodymyr Zelensky also raised hopes on Tuesday that peace talks with Russia were beginning to “sound more realistic.” But the war could go on for weeks. Who knows what crude prices will be a week or even a few days from now.

By the way, the vast majority of the nation’s 150,000 gas retailers are mom-and-pop operations. Fewer than 5% are owned by refiners. Profit margins are only about 10 to 15 cents a gallon even when prices shoot up. These small businesses aren’t padding their profits. They’re trying to hedge against big losses if oil prices spike.

Markets are complicated, we know. But maybe Mr. Biden could try to understand how they work, for a change.

[Lucas McCain]

Originally Posted by WTF

Trump, Obama or Biden?

The answer is none of the above. The POTUS has nothing to do with the price of oil. And yeah, I'll admit I haven't read the responses after your original post because I'm sure many are as clueless and misinformed as I would expect so I didn't feel the need to do so.

[Tiny]

Originally Posted by Lucas McCain

The answer is none of the above. The POTUS has nothing to do with the price of oil. And yeah, I'll admit I haven't read the responses after your original post because I'm sure many are as clueless and misinformed as I would expect so I didn't feel the need to do so.

"The answer is none of the above." That's absolutely correct with respect to WTF's specific question.

The president can affect the price of energy, especially if the courts or Congress go along with him. The price of natural gas during the Carter years is a good example. The price of the marginal source of supply of natural gas, from wells below 15,000', shot to the moon because of government policies. It's harder to fuck things up with oil, but the threats from Biden and the progressives to ban fracking or stop drilling on federal leases do have an affect on the industry. If they carry through on their threats, especially banning fracking, that would certainly affect the price.

Apparently the EPA is slow walking approvals for liquefaction plants for natural gas right now. Too bad. If we were exporting a lot more LNG we'd be better off, and so would the Europeans who are hostage to Russian gas. And the price of LNG would be lower.

[WTF]

Tiny if you think the Bernie Sanders wing is going to be the dominant player in our domestic oil policy, ever....then invest accordingly.

I do not happen to agree.

I think you lustylad and others sound much like Chicken Little or you are just saying it for political gain.

[Tiny]

Originally Posted by WTF

Tiny if you think the Bernie Sanders wing is going to be the dominant player in our domestic oil policy....then invest accordingly.

I do not happen to agree.

I think you lustylad and others sound much like Chicken Little or you are just saying it for political gain.

I'm not a politician WTF. I do nothing for political gain. I'm just trying to do an intervention to save you from your Stockholm Syndrome. This is just another one of the good works of the Free Markets Church of Tiny.

[WTF]

Originally Posted by Tiny

I'm not a politician WTF. I do nothing for political gain. I'm just trying to do an intervention to save you from your Stockholm Syndrome. This is just another one of the good works of the Free Markets Church of Tiny.

The free market does not care what the price of oil is or will be.
The market does no care who the winner or loser is on either side of the trade.

I still haven't a clue how you equate me to Stockholm Syndrome. I'm betting on American energy companies.

[farmstud60]

Originally Posted by Lucas McCain

The answer is none of the above. The POTUS has nothing to do with the price of oil. And yeah, I'll admit I haven't read the responses after your original post because I'm sure many are as clueless and misinformed as I would expect so I didn't feel the need to do so.

Ah yes, just ignore the anti United States fossil fuel executive orders and the EPA chief creating regulations to restrict supply, then claim these actions have nothing to do with higher prices of oil,

[Why_Yes_I_Do]

Chyyyyyna

[WTF]

Originally Posted by farmstud60

Ah yes, just ignore the anti United States fossil fuel executive orders and the EPA chief creating regulations to restrict supply, then claim these actions have nothing to do with higher prices of oil,

We are pumping more oil now than when Trump left office....wtf are you squawking about?

[WTF]

Originally Posted by Why_Yes_I_Do

Chyyyyyna

And India and all the other emerging world countries will need more OIL/ENERGY

[farmstud60]

Originally Posted by WTF

We are pumping more oil now than when Trump left office....wtf are you squawking about?

You clearly don't understand what is going on with Government policy. Try reading actual commodity news, not political news about commodities

[WTF]

Originally Posted by farmstud60

You clearly don't understand what is going on with Government policy. Try reading actual commodity news, not political news about commodities

Either prove me wrong or stfu or just stfu because you can't prove me wrong.

https://www.eia.gov/dnav/pet/hist/Le...s=mcrfpus2&f=m

[Tiny]

Originally Posted by WTF

I still haven't a clue how you equate me to Stockholm Syndrome. I'm betting on American energy companies.

Lower taxes mean you get to keep more of your own money. If American politicians don't ban fracking or drilling on federal leases, then you'll realize higher dividends and capital gains from your American energy companies than you would otherwise. You however have developed positive feelings toward your potential abusers, the politicians who want to raise your taxes and throw roadblocks in the way of your companies. If that's not Stockholm Syndrome I don't know what is.

Yeah, you haven't gone full Patty Hearst yet. But if not for the tough love dished out by those of us here you might have.