brenthutch 383 #1 Posted June 14, 2022 https://www.washingtoninformer.com/american-petroleum-institute-lays-out-solutions-to-rising-gas-prices/ Biden could do this tomorrow, instead of begging Saudi Arabia, Iran an Venezuela to boost production. Quote Share this post Link to post Share on other sites
SkyDekker 1,122 #2 June 14, 2022 16 minutes ago, brenthutch said: https://www.washingtoninformer.com/american-petroleum-institute-lays-out-solutions-to-rising-gas-prices/ Biden could do this tomorrow, instead of begging Saudi Arabia, Iran an Venezuela to boost production. Do what? That "article" says there are 4 items Biden could do, but then only lists 1. And, that one really won't have any impact on prices today. Did you read any of it? Do you know what a rhetorical question is? 1 Quote Share this post Link to post Share on other sites
DougH 270 #3 June 14, 2022 My commuter car is a 2010 Toyota Prius with about 250k miles on it. It isn't glamorous, but it had a low cost of entry when I bought it used, and a low cost of ownership since that point. It has been a very effective personal solution to high gas prices. Meanwhile the guy with the Lets Go Brandon bumper sticker who is on Facebook sharing memes about pipeline cancelations is driving what? A 60k 3/4 ton pickup that is used to tow and haul once a year? I had a big lifted truck for my primary transportation that got 12mpg with a tailwind the last time the gas prices spiked relative to their norm, I think that was around 2007 - 2008. I learned my lesson, but it seems like a lot of other people didn't. Quote Share this post Link to post Share on other sites
brenthutch 383 #4 June 14, 2022 36 minutes ago, SkyDekker said: Do what? That "article" says there are 4 items Biden could do, but then only lists 1. And, that one really won't have any impact on prices today. Did you read any of it? Do you know what a rhetorical question is? I should have known you would be triggered by, “Yet the overriding policy lately has been to cancel pipelines, block permits and deny leases — all things that discourage investment.” Quote Share this post Link to post Share on other sites
SkyDekker 1,122 #5 June 14, 2022 (edited) 17 minutes ago, brenthutch said: I should have known you would be triggered by, “Yet the overriding policy lately has been to cancel pipelines, block permits and deny leases — all things that discourage investment.” What are the 4 items? The premise of the article is that crude makes up 56% of the price at the pump. However we have already established that crude isn't at all time highs. Your answer to that conundrum yesterday was that it was all due to refinery capacity, though you couldn't quite articulate how that all worked. Today you are back to indicating the problem is the price of crude. Other than just blindly blaming Biden, you have absolutely zero grasp on the actual issues. The one thing I will agree with you is that the Republicans will win in the mid-term and you have been perfectly able to demonstrate why. Edited to add: Do you really think the "American Petroleum Institute" is interested in lowering the price of crude? Edited June 14, 2022 by SkyDekker 1 Quote Share this post Link to post Share on other sites
brenthutch 383 #6 June 14, 2022 (edited) 1 hour ago, SkyDekker said: What are the 4 items? 1. conducting federal lease sales 2. completing a new five-year program for federal offshore leasing 3. supporting energy infrastructure, enabling rather than deterring the industry’s financing. 4. reopening access to Alaska. Edited June 14, 2022 by brenthutch Quote Share this post Link to post Share on other sites
jimjumper 25 #7 June 14, 2022 In CA, all that is needed is a pen. The Governor could suspend the state gas tax and between the refinery taxes and the pump taxes reduce cost roughly $1 per gallon. But the $97 Billion we currently have in unexpected tax revenue isn't enough. WE WANT MORE! In CA, it's about control of the populace and maintaining power. Quote Share this post Link to post Share on other sites
jimjumper 25 #8 June 14, 2022 And by the way, CA average today hit $6.44... Quote Share this post Link to post Share on other sites
rifleman 61 #9 June 14, 2022 4 minutes ago, jimjumper said: And by the way, CA average today hit $6.44... I wish. Here in the UK we're about to hit £10 per gallon ($12.30). Quote Share this post Link to post Share on other sites
jimjumper 25 #10 June 14, 2022 US average is $5.10. That's why $6.44 looks more like greed and control. Quote Share this post Link to post Share on other sites
SkyDekker 1,122 #11 June 14, 2022 1 hour ago, brenthutch said: 1. conducting federal lease sales 2. completing a new five-year program for federal offshore leasing 3. supporting energy infrastructure, enabling rather than deterring the industry’s financing. 4. reopening access to Alaska. So that is all on the crude side. Yesterday you said the cost is being driven up by refinery capacity, since crude is not an an all time high. You were saying increasing refinery capacity was hampered by regulations. How do any of the above 4 points change that? Quote Share this post Link to post Share on other sites
wolfriverjoe 1,340 #12 June 14, 2022 18 minutes ago, SkyDekker said: So that is all on the crude side. Yesterday you said the cost is being driven up by refinery capacity, since crude is not an an all time high. You were saying increasing refinery capacity was hampered by regulations. How do any of the above 4 points change that? Those 4 points would have ZERO effect on prices in the short term. Any 'new lands opening for exploration and drilling' would take several years before production starts. Not sure how something that would take years to implement would have any effect on gas prices today. But then again, I don't understand any of the crap he posts. It's pretty clear he doesn't either. He just posts shit to get a reaction. 2 Quote Share this post Link to post Share on other sites
wmw999 2,121 #13 June 14, 2022 21 minutes ago, wolfriverjoe said: Any 'new lands opening for exploration and drilling' would take several years before production starts. There's the whole deal that it's incredibly expensive to drill for oil; the payback has to be huge for any of the majors to do it. I have relatives who worked in oil exploration, trying to make cases for fields. Damn few ever were actually explored -- the risk is huge. Wendy P. Quote Share this post Link to post Share on other sites
mistercwood 287 #14 June 14, 2022 At this point I need the Mods to come clean and admit the truth - Brent is on the DZ.com payroll to drive engagement and generate traffic. There's no other explanation for the amount of clickbaity, substance-less threads being churned out by a single poster almost daily... 5 Quote Share this post Link to post Share on other sites
brenthutch 383 #15 June 14, 2022 (edited) 1 hour ago, wolfriverjoe said: Those 4 points would have ZERO effect on prices in the short term. Where did anyone say “short term”? That said just signaling a change in future policies will have an immediate impact on the futures market. BTW Is it your position that government policies have no impact on gas prices? Edited June 14, 2022 by brenthutch Quote Share this post Link to post Share on other sites
SkyDekker 1,122 #16 June 15, 2022 2 hours ago, brenthutch said: Where did anyone say “short term”? That said just signaling a change in future policies will have an immediate impact on the futures market. BTW Is it your position that government policies have no impact on gas prices? When you titled the thread you started as “solution to high gas prices” you meant maybe at some point in the future if maybe all other variables remain the same? Quote Share this post Link to post Share on other sites
brenthutch 383 #17 June 15, 2022 12 minutes ago, SkyDekker said: When you titled the thread you started as “solution to high gas prices” you meant maybe at some point in the future if maybe all other variables remain the same? More like, “let’s take a path better than the one we are on” Do you really believe that governmental policies have no impact on gas prices? Quote Share this post Link to post Share on other sites
billvon 2,396 #18 June 15, 2022 6 hours ago, wmw999 said: There's the whole deal that it's incredibly expensive to drill for oil; the payback has to be huge for any of the majors to do it. Further, drilling at this point would result in more oil supply and drive down both oil and gas prices. And given that the major oil companies have tripled their profits over the past six months - there is zero incentive to increase supply. Quote Share this post Link to post Share on other sites
brenthutch 383 #19 June 15, 2022 6 hours ago, billvon said: Further, drilling at this point would result in more oil supply and drive down both oil and gas prices. Not according to SkyDekker. Quote Share this post Link to post Share on other sites
Phil1111 910 #20 June 15, 2022 14 hours ago, rifleman said: I wish. Here in the UK we're about to hit £10 per gallon ($12.30). When Americans are born. The doctor slaps them on the bum and declares their sacred birth-rites. "You are entitled to guns, gas and god. All are to serve you". 1 Quote Share this post Link to post Share on other sites
Phil1111 910 #21 June 15, 2022 (edited) 14 hours ago, mistercwood said: At this point I need the Mods to come clean and admit the truth - Brent is on the DZ.com payroll to drive engagement and generate traffic. There's no other explanation for the amount of clickbaity, substance-less threads being churned out by a single poster almost daily... In truth both Brent and FOX operate the same. Except FOX does it for Russia and the GOP. Edited June 15, 2022 by Phil1111 Quote Share this post Link to post Share on other sites
ryoder 1,384 #22 June 15, 2022 Heather Cox Richardson covers this topic in last night's letter: https://heathercoxrichardson.substack.com/p/june-14-2022?s=r Quote Share this post Link to post Share on other sites
Phil1111 910 #23 June 15, 2022 10 minutes ago, ryoder said: Heather Cox Richardson covers this topic in last night's letter: https://heathercoxrichardson.substack.com/p/june-14-2022?s=r She is correct and once again Brent wrong. Even after four years of trump US oil production is currently 600 barrels a day higher under President Biden. Quote Share this post Link to post Share on other sites
wolfriverjoe 1,340 #24 June 15, 2022 15 minutes ago, Phil1111 said: She is correct and once again Brent wrong. Even after four years of trump US oil production is currently 600 barrels a day higher under President Biden. It could certainly be higher. But the oil companies like making money. (Helpful hint: It has little to do with 'government regulations') Quote What appears to be driving U.S. gas prices is the pressure investors are putting on oil companies, whose officers answer to their investors. Limited production creates higher prices that are driving record profits. In a March 2022 survey of 141 U.S. oil producers asking them why they were holding back production, 59% said they were under investor pressure. Only 6% blamed “government regulations” for their lack of increased production. Quote Share this post Link to post Share on other sites
SkyDekker 1,122 #25 June 15, 2022 4 hours ago, brenthutch said: Not according to SkyDekker. Not if your claim that refinery capacity is driving gasoline prices is true. Market has already shows that record gasoline prices are being reached without anywhere near record crude prices. So, feel free to explain to me how allowing more drilling sites in 15 years will drop gasoline prices today.... Keep in mind that there are many, many, many drilling sites available right now. Quote Share this post Link to post Share on other sites