They’re ruining our fun fellas.

[thatJeepguy]

this is not a market driven thing, this is a repercussion of regimes decision to cancel 30-40% of US petroleum production with the stroke of a pen.

What happens next? Do yall think this will be relieved with a change of policy shortly or will they go all in and try to justify?

“Its only another 20$“ its not okay for the greedy elites to profit off of us. Especially considering we possess the amount of pet reserves that the US does. We could easily have changed leasing and open anwr and sign Keystone for Alberta oil and we’d have 70-80 oil at most. And be able to export LNG to Germany who is going to continue to buy oil and Gas this/next year at historic highs and flood Russia with petro dollar and make them billions. Its a complete contradiction of the current rUs/Ukr policy. Also its their chance for the power grab to usher in more lithium cars.

 

[CoronaRaptor]

I see what you’re getting at, but I think you missed the mark a bit, if what I think is happening: if Russia can’t sell its oil to Europe and slows its production down, the Russian oil value will drop unless it has other customers in line waiting to fill the gap. Now western oil prices we agree on, as the demand for more oil is present then the price of western oil is going to go up. I wouldn’t confuse the price of oil/gas with ev output, but I would compare it to government tax percentages, especially in states/provinces like California and British Columbia where up to 60% of the end product being gasoline is tax income for state/province coffers. So the higher gasoline prices, the more money for government spending, you know for all those roads they fix and new city buses or maybe it’s so they can send Billions offshore to their Swiss bank accounts, idk.

 

[thatJeepguy]

I see what you’re getting at, but I think you missed the mark a bit, if what I think is happening: if Russia can’t sell its oil to Europe and slows its production down, the Russian oil value will drop unless it has other customers in line waiting to fill the gap. Now western oil prices we agree on, as the demand for more oil is present then the price of western oil is going to go up. I wouldn’t confuse the price of oil/gas with ev output, but I would compare it to government tax percentages, especially in states/provinces like California and British Columbia where up to 60% of the end product being gasoline is tax income for state/province coffers. So the higher gasoline prices, the more money for government spending, you know for all those roads they fix and new city buses or maybe it’s so they can send Billions offshore to their Swiss bank accounts, idk.

But Russia is and Will continue to sell their oil to europe , thats the point.

 

[CoronaRaptor]

But Russia is and Will continue to sell their oil to europe , thats the point.

You’re probably right about that, history has shown that Europe bans the oil during a conflict and then comes back with their tail between their legs and begs for the oil again. A person can only hope that trend doesn’t continue, because if western countries can feed Europe oil in the long term, the prices will stabilize and lower.

 

[OEMPlus Raptor]

How much of that 30-40% percent petroleum actually makes it to your local gas station? I don't know and I'm just asking.

I've seen gas prices really high under Bush, Obama and now Biden.

Again, I'm no expert but I've traveled outside of the US and I can tell you this. We've had it really good for a long time. There's a reason BIG SUV's, 2500's are not daily driven in other parts of the world. Gas is expensive and when we pay close to what anyone else might be paying outside of the US, we start pointing fingers at the man in the White House.

 

[thatJeepguy]

How much of that 30-40% percent petroleum actually makes it to your local gas station? I don't know and I'm just asking.

I've seen gas prices really high under Bush, Obama and now Biden.

Again, I'm no expert but I've traveled outside of the US and I can tell you this. We've had it really good for a long time. There's a reason BIG SUV's, 2500's are not daily driven in other parts of the world. Gas is expensive and when we pay close to what anyone else might be paying outside of the US, we start pointing fingers at the man in the White House.

Oil prices are market driven. If theres 40% more oil in the market and above demand #’s the price comes down significantly. Even more so when a superpower, who is controlling a steady supply from a protected and strategic posture expresses that they plan on continuing to produce.Theres a reason Europe and Canada have high gas prices and its because they want to usher in BS electric cars.

 

[OEMPlus Raptor]

Oil prices are market driven. If theres 40% more oil in the market and above demand #’s the price comes down significantly. Even more so when a superpower, who is controlling a steady supply from a protected and strategic posture expresses that they plan on continuing to produce.Theres a reason Europe and Canada have high gas prices and its because they want to usher in BS electric cars.

I understand it's market driven, I just don't think that ever makes it to our local gas pump. In the SOTU address the President said he would release X amount of oil from our reserves to ease the pain at the pump. I don't think that will help at all and won't make much of a difference if any. I use my Raptor for long road trips with the family and off-roading adventures. It's not my daily so I'm not feeling the pain as others but I just don't think using our own supply changes things much right now. It'll take years of the US producing its own oil before we see any real changes at the pump.

 

[smurfslayer]

How much of that 30-40% percent petroleum actually makes it to your local gas station? I don't know and I'm just asking.

Very little. While not a strictly libertarian ideal, one problem is that the US is exporting some of the precious oil, where we could put it to better use here. The harsh reality is that we need it more. Germany can sustain $10.00/gallon fuel costs for their gold plated government services, but we can’t. We’re several times larger than the nation states in the “Olde Country” and we need that fuel for infrastructure, transporting of goods, and what have you.

I understand it's market driven, I just don't think that ever makes it to our local gas pump.

It’s very much a futures market that is driven by speculation, rumor, guessing and supply and demand. A good example - gasoline prices have spiked almost .60 / gallon in a week locally, but there has not been sufficient time for any perceived ’shortage’ to affect the local market. And you can bet damn sure that once the local market supply exceeds demand, it will be molasses slow to return to more sane prices.

In the SOTU address the President said he would release X amount of oil from our reserves to ease the pain at the pump. I don't think that will help at all and won't make much of a difference if any.

A political stunt, the same as it was when Bush did it. Now, redirect exported oil back into the domestic market and that would directly impact fuel prices here. It would definitely pinch international markets, but if I’m honest, I’m kind of a selfish consumer and don’t really care what citizens of other countries pay for fuel.

 

[zemuron99]

We could easily have changed leasing and open anwr and sign Keystone for Alberta oil and we’d have 70-80 oil at most.

I have to say despite the price of gas currently, and even if it goes higher in the future I am and always will be against this. ANWR is just that...relatively unspoiled wildlife REFUGE, where wildlife can survive/flourish without interference from Man. And I'm willing to pay more for a tank of gas to keep it that way for YOUR kids, grandkids, and all of their kids (I have none of either). And the keystone pipeline is a bad idea as well, it will cross more than 2,000 waterways, including the Yellowstone River in Montana, threatening rivers, lakes and streams with the same kind of pipeline accidents that have occurred elsewhere.

Unless/until the pipeline companies can 100% guarantee that not a drop of oil will spill ANWR should remain free from drilling/piping oil. Even the TA pipeline has had its' share of accidents:
"The size of (the most recent) spill, roughly 5,000 barrels (at 55 gallons/barrel) from the pipeline is topped only by two other accidents on the pipeline:
• In 1978, sabotage at Steele Creek caused about 670,000 gallons - 16,000 barrels - to leak.
• In 2001, a Livengood man shot the pipeline with a high-caliber rifle, causing 258,000 gallons - 6,143 barrels - to spew from the line before Alyeska could secure a clamp over the hole."

The risk is not outweighed by the benefit.

 

[WTX]

The price of oil is 80% speculation and the other 20% is demand.

It’s 75% controlled by performance of the guy in the White House. Shut down new leasing and problems in global hotspots?? To the moon