Gas…PRICES!
Rip. Anyone seen gas recently? It shot up $0.30 from this morning.
It’s hitting $6 a gallon in San Diego, California.
What can we do to fix this?
Mar 07, 2022
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Don't use your car
I have to get to work!
or an electric ducati
subway/bus/uber/electric car
You will own nothing and be happy.
Living As A Service
Should be Kamala’s campaign slogan in 2024
Could be worse. You could have a 21gal tank and put premium in your car. And your car makes you experience this mess as the gas light comes on on the way home from work. Then you find out that gas pumps stop at $100 and you have to fill up twice. Or so I've heard...
Yeah around Chicago it's $5 a gallon or so. Absolutely brutal, costs me $60 to fill my tank vs. $35 just a couple quarters ago
Good luck to Biden with these sanctions, at most I see the bulk of it lasting until post-midterms. I can't believe we're sacrificing Americans' ability to eat and drive for a corrupt regime halfway across the world. I can bear with this just fine at a 6-figure income, but there many folks with HH incomes of $40k with 2 kids who are really hurting right now. Something has to give
Weird
Why don't you try practicing empathy
I always find it funny when someone that can't care for half this country claims to care about polar bears.
Definitely getting very expensive as a result of the potential embargos. Wonder if this’ll push us into recession?
It's been announced to ban Russian foreign oil.
Definitely getting very expensive as a result of the potential embargos. Wonder if this'll push us into recession?
Think this war is just making it clear that the O&G industry is going no where in the near future. May be it will spur on the EV market and force further innovations in that space to make it more affordable as well as provide a push to build the infrastructure needed to make it viable publicly. I feel if this does not provide an incentive then the EV market is far from public adoption.
Natural Gas companies love EV's
Blue Horseshoe loves natural gas
Stephen Colbert said it's just fine if it goes up to $15 gallon because he pays that much. Pay up paypig, it's the price of being morally superior on social media.
Stephen Colbert's "Let them eat cake" moment:
trucks are not much cheaper than the cheapest Tesla model. plus used cars now cost a lot. so if you own some Ford truck, you could sell it for like $20k, and make a down payment for Tesla, and your monthly payment for the rest of the balance will be like $100 per month, which is what people pay for internet or cell service every month without problems.
To the OP's comment...pretty sure this problem was already fixed. The value of energy independence cannot be understated.
I don't like gas prices being this high, that's for sure, however national average was $4 in 2008, inflation adjusted thats $5.22 today so this could be just the beginning...
In situations like this, what would you recc’d?
https://www.wallstreetoasis.com/comment/2728247#comment-2728247
Gas is like 9$/gal in the UK right now. Consider yourself lucky lol
Maybe in inner London. The rest of the country owns a car and uses it. Probably don’t drive nearly as far but I promise you they feel it.
Travel back in time and not have voted for the walking corpse in the White House now.
Oh that and actually not continue to push policies that are actively making the energy crisis worse.
What do you think contributed to all of this?
There are manythings that have contributed to this. But a handful of things that are entirely in control of the current US goverment include.
1) Not canceling Keystone XL.
2) Not halting new drilling leases
3) Not halting production on existing leases
4) Acting like the national strategic oil reserves are some kind of actual solution to this. Hin't the national consumption would deplete the reserves in about 3 - 5 days. Also a note for the uninformed. The oil we keep in that stockpile is absolute shit, requires about 200% more processing than other sources we have access to here in the US. It is nothing more than a feel good idea and not really a strategic anything, the name just makes it sound important.
5) Constant global antagonism and throwing public fits when not everyone agrees that your stupid idea is a great idea.
Great write-up, thank you.
Nice call mentioning Keystone XL and the O&G Leasing issues. The other thing to consider is that there has not been any real innovation in O&G Technology in decades. Hopefully this spurs actual capital investment into R&D to find new was to help get more per barrel than we do already.
That is not true. Fracking was a massive innovative leap that allowed the third US energy production boom to happen.
Keystone XL was years away from being completed, and Biden got more new oil permits done than Trump. Oil production in general is also higher among Biden. I'd say geopolitics, not internal US politics, is the main cause
What you just said does not track with reality in any way shape or form. We now import petroleum products. Under the previous admin we were a net exporter. We have lower demand now then we did then. So how can your reality possibly exist? Makes zero sense.
Of course politics matters. When a new president comes in talking about how much he hates oil production, that factors into every single CEO's investment plans. It's pretty simple, shale boomed under Trump, and stayed stagnant under Biden, even though the prices were higher in 2021 than they were for most of Trump's presidency. There's multiple factors, sure, but business sentiment is a big part of it
As someone who bought a Tesla, I’m laughing my bum off.
But on a serious note it’s good motivation to start cycling or walking or taking the train to work. I honestly think it’s a bit excessive on how reliant we all are on our cars to go anywhere.
Wait until you realize that the cost of your electricity is following suit.
Great solution...
I own a Tesla and my energy bill is way up. The energy grid has huge amounts of fossil fuels powering it, natural gas in particular.
Europe is far further along in the EV and renewables space and their energy prices are way higher than ours.
HI
I almost didn't believe you for a second there - https://thehill.com/homenews/administration/597293-biden-to-request-26b…
And it's no wonder we're sitting here trying to figure out how to deal with gas prices... our President's not interested in getting them (or inflation) under control.
Maybe if you bump up the $15 minimum wage to $25, it'll fix this.
Biden re-enslaved millions of Afghani women to 7th century barbarians but he's definitely for gender equity or some virtue signal.
Climate Change Activists always cry foul when the US boosts oil production, but remains silent when we purchase it from Russia or the Middle East (which clearly takes more energy to produce due to transportation at a minimum).
Well that is because the pollution generated over there doesn't make it to here, silly!
Our overlords said it is ok so do not complain or spread misinformation. I'm just happy we're cutting a deal with progressive countries like Venezuela and Iran to get more oil. I wouldn't want it produced in the US, that would cause pollution. Pollution does not occur in Venezuela and Iran.
Don't you know liberals don't use oil anyway? Their iphones and Starbucks coffees float to their doorstep, carried by the winds of nature
So to those of you who were understandably anti-Trump but lean more towards the middle than the left, how do you feel about progressives now? Still going to vote Democrat or have you realized yet that that party wants nothing more than to handicap the US for the sake of woke optics? These policies are obliterating the very people they claim to support but they couldn't have a care in the world when confronted about it.
I can take this one: they don’t care. Democrats have won pop culture and most people will just go along with it.
Highest gas prices ever is a fast track way to lose popular support. I am feeling pretty good about the midterms.
I'm actually impressed with how resilient the American populace is to this. You cant turn on a late night talk show, a sporting event, a Netflix documentary, a television show, a Instagram or TikTok story without liberal nonsense shoved down your throat. About masks, about identity politics, about race, gender, LGBTwhatever, etc.
Despite this you still have half the population saying 'this is full of shit' and thinking for themselves. It's actually impressive.
I don't really understand how the oil issue is all the Dem's fault. It's more geopolitical and a result of covid. Remember when Oil was negative and a bunch of refineries shut down from lack of demand? I remember.
Oil went negative temporarily because of a storage capacity issue and technicals from traders playing the futures market, not because of lack of demand. Dems are 100% responsible for the oil crisis in the US because not even 3 years ago we were a net exporter and 100% energy independent. Biden passed a slew of executive orders in his first 90 days which flipped that, canceled the Keystone Pipeline, and has banned further drilling on Federal lands in addition to halting production on already tapped wells. Democrats and progressives in general are the worst when it comes to energy policy, full stop. The entire energy crisis that Germany faces with the banning of Russian oil would be nonexistent if they didn't make the stupid decision of decommissioning nuclear plants vs building more of them. The argument of "renewable energy is cheaper" is a load of horse shit - it's cheaper because it's been subsidized by the government (to a substantially higher tune than O&G).
Geopolitical implies we are exporting oil from foreign countries. It simply does not have to be this way.
No one here says it is all their fault. We just point out that they are the ones actively making it worse.
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how is it about democrats vs republicans in US? the whole world sees skyrocketing gas prices, or do you think Biden influences gas prices in Germany and Korea?
at times like this you want somebody chill in the office, so we don't start WW3. then gas prices will be the last of your concerns.
I'm guessing you're not from the US? Otherwise you must just not be paying any attention at all to what is going on in politics. Gas prices had already been shooting up literally a month since Biden's inauguration. He's been handicapping domestic energy production with idiotic degrees of regulation, taking away energy independence. That combined with the Ukraine situation is causing this huge spike to the highest it's ever been, but it wouldn't have been as high as it was before the Ukraine runup in the first place if this doddering old fool wasn't drooling in the oval office.
Chill in office? Biden is the second head of the same bitch-tier administration that did nothing when Russia took Crimea almost 10 years ago. The same administration that led a literal coup in Ukraine and liberally installed their leadership. In this type of situation you want a leader who can lead, not some geriatric who literally cannot get through a few sentences without struggling or taking a breather. This is a leader who has already botched the exit of quite literally the biggest military deployment in US history and you think anyone feels confident with Biden taking point on RUSSIA? Honest to god I would rather have Obama in for a 3rd term than his racist pedophile VP.
Thank god I live in Houston. I pay only $3.35.
Little did you know…
In the UK we have paid over £1/litre (6$/gal) for as long as I can remember.
We currently pay £1.55/litre (c. $9/gal)
6 bucks is not expensive.....
Perhaps Americans should stop driving trucks with 8 Litre V8's
You do realize your country is about 40 times smaller than the US and a solid portion of America Drives more on their daily commute than most Europeans do in a week, whether they have a large truck or not? Or can you only comprehend issues people in other countries have within the scope of your own personal life?
Not a good argument. I hear this from several friends from foreign nations. America is probably one of the most, if not, the most car dependent nation in the world given the vast landscape of the country. Our national highway system is massive and is also well interconnected. Spikes in oil prices can disrupt our economy faster than you can think. Imagine an average household reducing the amount they go out. This impacts businesses, restaurants, hotels, etc. I use the same argument for my friends in London and I asked them "What if the price of subway/bus tickets were to double?".
Invest in renewable energy, maybe?
Almost as if people haven't been making a case for energy independence for years. But you know, Ya'llQaeda gotta have their F-150's, because that's patriotism
And what renewable energy do you anticipate powering vehicles? Even if you could produce the electricity via nuclear/wind/solar, you still have to mine and produce the batteries for hundreds of millions of vehicles. That takes oil and gas.
Oh right, everyone should just buy 40-50k electric vehicles, good idea
Use your car less. Oil companies have been recording record profits - this has more to do with corporate greed than with international relations. The only way you can really fight it (short of legislating a price cap or something like that) is to just try to use less gas. If we demand less, suppliers will have to react by dropping their prices down.
https://www.theguardian.com/business/2021/dec/06/oil-companies-profits-…
🤣🤣🤣
Good.
Yeah the gas is up by me too. I have a nicer car so I gotta use the 93, cost me $85 yesterday to fill up. It doesn't really bother me since im in a good financial position to afford it, but im sure the people who are living on a month to month basis will feel it more. I'm not an expert in the O&G industry, but I assume if we just stopped importing and produced our own oil then we could drive the price down. But at the same time the liberal environmentalists are happy that gas prices are high because they want to artificially force everyone to drive electric or hydrogen cars.
Democrats are going to get slaughtered like Pigs in the Midterms
Yes and it will be fun to watch. The issue is that we are only kicking the can down the road with republicans taking back house and senate. Even if R win in 2024 I think it’ll be one of the last republicans presidents we have if you look at the younger demographic coming up and their voting habits.
Point on. Scary to see how academia has become a brainwashing machine and the fact that you have to subscribe to binary labels instead of thinking and coming up with a natural conclusion. I support some economic policies by the republicans and don't like the moral ones but with democrats, it has to be all in or they will cancel their own.
I am not compelled to attack every democrat policy and defend every republican move, I will do what is right and assess each thing on its merit and data rather than becoming a diehard bigot
Only the POTUS has the ability to influence energy prices and POTUS in this case has plenty of foreign policy experience but is still fucking us on each point he wants America to be energy-dependent and then embargo those who supply energy
Why would the Saudis pick his call, they were dissing Saudis on Kashoggi and didn't support them in Yemen?
You cannot make any progress on climate change until you convince the whole world to reduce emissions and the whole world isn't united so for every pro-climate step that America takes the third world will be doing the contrary. This will benefit no one in long run and benefit those countries in the short run. The USA loses both ways
I've also been saying this for a while. The younger generation is incredibly far left, which is fueled by indoctrination by professors and pop culture/social media. Once the older generation dies off, we are really really fu**ed in America. It's really scary to think about. A lot of people say the old "when they get jobs they'll turn republican" but I don't think that's true. Considering that the software engineers at google fresh out of college making $200k still vote for Bernie not even Biden just shows that our future is doomed. Hopefully though around 2030 I'll have enough money to just retire and get out of the USA and retire somewhere that's not woke and has low taxes plus decent cost of living. Looking at SEA or Eastern Europe.
Ride on the back of a first year analyst to work
Getting close to $7 where I live...
Just hit 6.59 in Del Mar.
I think San Francisco already hit $7 in some areas, LA too. Rest of California most likely gonna follow
Holy fuck, what is happening. I want out. Just make gas 20 bucks at this point, everything else is already expensive as shit anyway. I really was born in the worst time ever huh. Boomers be enjoying their millions now after buying mansions for cheap, going to college essentially loan free, and buying burgers for 10 cents.
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