WOW the $5 gas is really here to stay it looks like......😳 [LOCKED: NO POLITICS]

[Ice Age]

Damn I thought for sure after the Ukraine crap got going the reality to the Oil Markets would calm down. But for the moment this could be an ongoing challenge and it will have economic impacts on our economy. Vote on what you think happens this year and do not make it a political thread being I want to hear what people think will play out being the Oil Companies are making more money than they have in many many years.

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[Newbie]

 

[Lab00Rat]

You think prices are bad, wait till they start rationing like the '70s again.
Never believe that it can't be made worse... (Gen-X moto)

Still drive the Bronco - if I ever get one...

 

[dan79]

don't make it political? not sure how to even have a conversation on this topic its very political

 

[Tricky Dick]

I say it's here to stay because the dollar is so devalued.

 

[Lifeliberty]

don't make it political? not sure how to even have a conversation on this topic its very political

Not really. Plus political comments are banned and they don't want thread to get locked.

I'm hoping the markets make me some money.

 

[Deleted member 3063]

oil companies are doing their level best to drive people to electrics

 

[dan79]

oil companies are doing their level best to drive people to electrics

why would oil companies want u to not buy oil?????? not sure how u came up with this

 

[kodiakisland]

My Mom could eat lunch for $0.25 when she was 20. Shit happens.

 

[N8Mash]

oil companies are doing their level best to drive people to electrics

why would oil companies want u to not buy oil?????? not sure how u came up with this

I don't understand why this frame of mind exists, (not targeting you Fossil) but if more people buy electric, wouldn't demand for gasoline and subsequently the cost of gasoline go down?

 

[Deleted member 3063]

why would oil companies want u to not buy oil?????? not sure how u came up with this

I don't know. Why do you think they are sitting on 9,000 oil drilling leases and not developing them?

 

[jjack50]

I don't understand why this frame of mind exists, (not targeting you Fossil) but if more people buy electric, wouldn't demand for gasoline and subsequently the cost of gasoline go down?

if demand goes down significantly then production could go down to keep the price high.
I see transitioning to electric vehicles causing a lot of low cost (relatively) new vehicles to go away creating problems for non-urban people or poorer people. Fuel engines will remain as primary for lower cost off-roaders though. Can’t see how it could be any other way.

 

[Deleted member 3063]

I don't understand why this frame of mind exists, (not targeting you Fossil) but if more people buy electric, wouldn't demand for gasoline and subsequently the cost of gasoline go down?

Absolutely, supply and demand. I think they are shooting themselves in the foot, or maybe that area just above their inseam. You do know how OPEC is manipulating oil supplies to keep the price up, right? Domestic suppliers and setting back and raking it in.
I'm old enough to remember when 10% interest on home loans were common. Lots of people swore the rates would never go down.

 

[dan79]

I don't know. Why do you think they are sitting on 9,000 oil drilling leases and not developing them?

Lots of political reasons look in to it why would they not won’t to make as much as they can

 

[cowman]

I don't know. Why do you think they are sitting on 9,000 oil drilling leases and not developing them?

They are not... 75% of that 9000 are producing or being drilled... the other 25% the govt. is not approving the permits... Look it up...

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