National Average Price of Gasoline Hits an All-Time High

TRUEFANVol

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Oil looking very similar to the 2008 action.. I'd bet someone a fine steak dinner that I can buy 87 unleaded in Murphy NC under $3 before spring 2023
Not necessarily sure. Biden's idiotic dialogue against big oil might have downwardly driven the futures market for an extended period. What people don't understand is that negative rhetoric from POTUS can affect markets adversely, regardless of standard supply/demand indicators
 

MurphyVol

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Not necessarily sure. Biden's idiotic dialogue against big oil might have downwardly driven the futures market for an extended period. What people don't understand is that negative rhetoric from POTUS can affect markets adversely, regardless of standard supply/demand indicators
We'll see, more rigs coming online every month in the face of a recession. When all my liberal cohorts were convinced W was "helping his oil buddies" I thought there were giving him way too much credit. People think these guys can move energy markets?

Switchgrass!
1655950436106.png

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Velo Vol

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Not necessarily sure. Biden's idiotic dialogue against big oil might have downwardly driven the futures market for an extended period. What people don't understand is that negative rhetoric from POTUS can affect markets adversely, regardless of standard supply/demand indicators
Is this the equivalent of mean tweets?
 

TRUEFANVol

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We'll see, more rigs coming online every month in the face of a recession. When all my liberal cohorts were convinced W was "helping his oil buddies" I thought there were giving him way too much credit. People think these guys can move energy markets?

Switchgrass!
View attachment 466288

???
There hasn't been a President in my lifetime of 60 years that has spoke so negatively towards big oil as often as Biden. As I stated, supply/demand numbers aren't always immediate catalysts when the market is set by speculative factors. It's always a lagging effect anyway. The lag can be prolonged artificially by a mixed message from POTUS
 
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MurphyVol

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There hasn't been a President in my lifetime of 60 years that has spoke so negatively towards big oil as often as Biden. As I stated, supply/demand numbers aren't always immediate catalysts when the market is set by speculative factors. It's always a lagging effect anyway. The lag can be prolonged artificially by a mixed message for POTUS
Maybe, but if I'm Chevron I'm not basing a lot of long term plans around a guy that's gone in 30 months.

W spoke very positively of oil and would have granted permits to drill on the Moon and it still went to all time highs.

Right now the issue is the oil industry laid off 200k during the pandemic and only 100k came back. It's taken them a lot longer to get existing rigs back up but is slowly moving in the right direction.
 

Orangeburst

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Not necessarily sure. Biden's idiotic dialogue against big oil might have downwardly driven the futures market for an extended period. What people don't understand is that negative rhetoric from POTUS can affect markets adversely, regardless of standard supply/demand indicators
Is it only rhetoric or actual action? I mean his son is all eat up in energy management in the very place the war is happening that Biden gets to blame.
 
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TRUEFANVol

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Maybe, but if I'm Chevron I'm not basing a lot of long term plans around a guy that's gone in 30 months.

W spoke very positively of oil and would have granted permits to drill on the Moon and it still went to all time highs.

Right now the issue is the oil industry laid off 200k during the pandemic and only 100k came back. It's taken them a lot longer to get existing rigs back up but is slowly moving in the right direction.
You're last paragraph is spot on, but big oil doesn't directly set gas prices at the pump. Their barrel production and refining capacity only set the stage. That's factually why it has a lagging effect. Sometimes, administrative policy positions can trigger long term outlook
 
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Orangeburst

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You're last paragraph is spot on, but big oil doesn't directly set gas prices at the pump. Their barrel production and refining capacity only set the stage. That's factually why it has a lagging effect. Sometimes, administrative policy positions can trigger long term outlook
This is the debate about can a Presidential policy affect this or that..Absolutely long term, You choke the spigot it is not some instantaneous reopening when investments. logistics, and capability is concerned.
 

allvol123

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Oil looking very similar to the 2008 action.. I'd bet someone a fine steak dinner that I can buy 87 unleaded in Murphy NC under $3 before spring 2023
I’d take the bet merely because I’d be happy to eat the cost of your steak for sub $3 gas.

Trying to decide between a full size truck and a small truck to purchase. I’d go full size right now if I thought gas would be under 3 in that timeframe. Probably will no matter what, I’m full blooded Merican.
 

TRUEFANVol

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Is it only rhetoric or actual action? I mean his son is all eat up in energy management in the very place the war is happening that Biden gets to blame.
Biden's wayward son's activities haven't got a damn thing to do with prices at the pump right now. Damn, that's a Q type connection. ****, maybe it's the deep state, but I'm not sure of their location
 

Orangeburst

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Biden's wayward son's activities haven't got a damn thing to do with prices at the pump right now. Damn, that's a Q type connection. ****, maybe it's the deep state, but I'm not sure of their location
If you cannot see the irony..then that is on you and avoids the question of Joe's rhetoric and actions against his son's interest.
 

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