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

[Moparguy]

Talking about this without involving politics is like going to a Whiskey share gathering to find that drinking/talking about Whiskey is not allowed!

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[Roger123]

That’s not even close to true. The US gov does not control how much drilling takes place. They only control the issuance of new leases and renewal of old leases and only on public land. The oil companies control how much drilling and extraction take place. as Long as the companies can make a decent profit without more drilling they are ok with that. The more oil cost, the more they make. Drilling is expensive and is only increased when prices pass a certain threshold to make it profitable to drill more.

I have no idea where this bit about house limitations in 25 years comes from. The building of private houses is one of the primary industries and is greatly encouraged and facilitated.

You missed the analogy. Why would an investor put money into something the current .gov has said they are going to get rid of, i.e fossil fuels.

Sure, thy have a lease but why use it/ tap it if the .gov has openly said you (fossil fuels) are our (.gov) enemy and our goal of the entire federal government is to shut you down.

 

[North7]

The oil companies control how much drilling and extraction take place. as Long as the companies can make a decent profit without more drilling they are ok with that. The more oil cost, the more they make. Drilling is expensive and is only increased when prices pass a certain threshold to make it profitable to drill more.

ESG Investors now have a very large influence and control on how much drilling and extraction take place. They have greatly hampered oil company's desire or willingness to invest.

What is ESG Investing?

ESG Investing (also known as “socially responsible investing,” “impact investing,” and “sustainable investing”) refers to investing which prioritizes optimal environmental, social, and governance (ESG) factors or outcomes.

ESG Investing Set To Exacerbate Already Unfolding Global Energy Crisis

Here's How ESG Investing Has Disrupted the Oil Industry

Q&A: Why ESG Investing Will Impact Oil & Gas Landscape In 2021

ESG: How it Applies to the Oil & Gas Industry and Why It Matters

Environmental, Social And Governance: What Is ESG Investing?

 

[JohnnyBronco]

What gets me is our area, almost all branded stations, are supplied by a regional refiner claiming to use 100% North American crude (which can include Mexico and Canada, but mostly NY and PA) and so without any overseas shipping or import duties the price of fuel at the pump is no different than other chains bringing in fuel made from overseas crude (other than the highest state gas tax in the country). Shouldn't local fuel from virtually my back yard cost less than same thing from Saudi Arabia?

And what happened to the position we were in not that long ago (several years to be sure) when we were declared to be 100% independent of foreign oil?

Most of you are too young to remember the oil embargo of 1973-1974 when gas was scarce and pumps were unable to charge more than 99.9 cents per unit so they started pricing in half gallons. And odd-even fillup days based on your license plate, long lines, trucker strike on I80 in PA , double nickel speed limit, and all because we were far from oil independence

 

[Ice Age]

What gets me is our area, almost all branded stations, are supplied by a regional refiner claiming to use 100% North American crude (which can include Mexico and Canada, but mostly NY and PA) and so without any overseas shipping or import duties the price of fuel at the pump is no different than other chains bringing in fuel made from overseas crude (other than the highest state gas tax in the country). Shouldn't local fuel from virtually my back yard cost less than same thing from Saudi Arabia?

And what happened to the position we were in not that long ago (several years to be sure) when we were declared to be 100% independent of foreign oil?

Most of you are too young to remember the oil embargo of 1973-1974 when gas was scarce and pumps were unable to charge more than 99.9 cents per unit so they started pricing in half gallons. And odd-even fillup days based on your license plate, long lines, trucker strike on I80 in PA , double nickel speed limit, and all because we were far from oil independence

Yes I lived in Cali and sat in the car with my dad for hours as he cussed and bitched the whole time

 

[JohnnyBronco]

You missed the analogy. Why would an investor put money into something the current .gov has said they are going to get rid of, i.e fossil fuels.

Sure, thy have a lease but why use it/ tap it if the .gov has openly said you (fossil fuels) are our (.gov) enemy and our goal of the entire federal government is to shut you down.

#1 fuel to create electricity to charge your electric vehicle is currently still a fossil fuel (natural gas)

Until the regular run of the mill EV can be recharged every 375 miles in 5 minutes to compete with the regular run of the mill ICE family sedan then a 100% EV country will lead to major reductions in cross country travel. Fly and drive. You say? Does Boeing have a reliable and safe 737-e ready to fly in the daytime off solar? They can't keep fossil fuel powered planes from crashing

 

[Jawbox]

What gets me is our area, almost all branded stations, are supplied by a regional refiner claiming to use 100% North American crude (which can include Mexico and Canada, but mostly NY and PA) and so without any overseas shipping or import duties the price of fuel at the pump is no different than other chains bringing in fuel made from overseas crude (other than the highest state gas tax in the country). Shouldn't local fuel from virtually my back yard cost less than same thing from Saudi Arabia?

And what happened to the position we were in not that long ago (several years to be sure) when we were declared to be 100% independent of foreign oil?

Most of you are too young to remember the oil embargo of 1973-1974 when gas was scarce and pumps were unable to charge more than 99.9 cents per unit so they started pricing in half gallons. And odd-even fillup days based on your license plate, long lines, trucker strike on I80 in PA , double nickel speed limit, and all because we were far from oil independence

Yes and no.

Locally produced oil could *cost* less than other oil at production, especially now, but all along the way there are companies maximizing their profits.

If global oil is selling for less, someone in the middle will buy local cheap, and sell it at global prices. This will happen at the commodities stage, transportation, and refining stages of the process. By the time it gets to the retail market, all prices look the same.

If you want to know where they money is going, look at which companies are posting record profits at every stage of the game.

 

[JohnnyBronco]

Yes I lived in Cali and sat in the car with my dad for hours as he cussed and bitched the whole time

My final year of college back then. We only had one vehicle and I could walk to campus but knew of households with 2 vehicles that would swap license plates to keep filling half their fleet.

Thankfully the "crisis" only lasted about 6 months.
But at same time DC issued emergency orders on thermostat settings in public places (and price controls that never lasted long enough-like most federal programs)

 

[jjack50]

You missed the analogy. Why would an investor put money into something the current .gov has said they are going to get rid of, i.e fossil fuels.

Sure, thy have a lease but why use it/ tap it if the .gov has openly said you (fossil fuels) are our (.gov) enemy and our goal of the entire federal government is to shut you down.

Because there is a lot of money to be made through selling oil and oil products. The government has made no such statement about fossil fuels being our enemy. Each time prices soar due to external forces investors make a ton of money as stock values soar. There is no end in sight to the production of fossil fuels.

 

[bronco_ed]

Silly Poll, This is Political.... We have oil

 

[dan79]

Because there is a lot of money to be made through selling oil and oil products. The government has made no such statement about fossil fuels being our enemy. Each time prices soar due to external forces investors make a ton of money as stock values soar. There is no end in sight to the production of fossil fuels.

yes they have look in to it before making statements like that.
https://abcnews.go.com/Politics/bid...osition-fossil-fuels-debate/story?id=73789793
https://www.cnbc.com/2020/10/24/joe-biden-climate-change-is-number-one-issue-facing-humanity.html
https://time.com/5934090/joe-biden-climate-executive-order/
https://biologicaldiversity.org/w/n...phase-out-federal-oil-gas-by-2035-2022-01-19/

 

[North7]

yes they have look in to it before making statements like that.
https://abcnews.go.com/Politics/bid...osition-fossil-fuels-debate/story?id=73789793
https://www.cnbc.com/2020/10/24/joe-biden-climate-change-is-number-one-issue-facing-humanity.html
https://time.com/5934090/joe-biden-climate-executive-order/
https://biologicaldiversity.org/w/n...phase-out-federal-oil-gas-by-2035-2022-01-19/

You missed one, what is this guys title?

John Kerry

 

[dan79]

You missed one, what is this guys title?

John Kerry

see now thats a political thing lol but I was only thinking recent like the last year maybe year and a half lol no reason I only grabbed from that time frame just felt right.

 

[Roger123]

Because there is a lot of money to be made through selling oil and oil products. The government has made no such statement about fossil fuels being our enemy. Each time prices soar due to external forces investors make a ton of money as stock values soar. There is no end in sight to the production of fossil fuels.

You haven't been paying attention.

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