How long until Biden takes credit?

SixFoot · 2021-01-30T00:18:29.309Z

SixFoot:

E-85 was $1.49 per gallon last week when I filled up. Bet it’s higher now.

$1.75 per gallon today.

RTchoke · 2021-01-30T05:01:41.004Z

SixFoot:

SixFoot:

E-85 was $1.49 per gallon last week when I filled up. Bet it’s higher now.

$1.75 per gallon today.

$2.35/gal

Count yourself lucky.

Ben_Natuf · 2021-01-30T12:36:28.064Z

you’re forgetting the lag in reporting results. the graphs match for a reason.

Borgia_dude · 2021-01-30T13:06:17.562Z

Ben_Natuf:

you’re forgetting the lag in reporting results. the graphs match for a reason.

No, I didn’t forget. The spike started Dec28 and continued for a week after. The “lag” is there.

SixFoot · 2021-01-30T13:24:45.970Z

RTchoke:

SixFoot:

SixFoot:

E-85 was $1.49 per gallon last week when I filled up. Bet it’s higher now.

$1.75 per gallon today.

$2.35/gal

Count yourself lucky.

I do. MFA Oil does a local economy good.

Camp · 2021-01-30T14:34:51.270Z

2.79 in suburbs of Pittsburgh PA.

I am bracing for 4.00 a gallon by Memorial day.

Ben_Natuf · 2021-02-11T17:09:04.653Z

biden’s goal for reopening schools seems to be to achieve what’s already been done.

Fox News

Biden’s new target for reopened schools is behind where US is now, data show

President Biden's new target for reopening schools -- having more than 50% of public schools offering at least one day of in-person classes a week -- is behind where the nation's public schools already are.

WuWei · 2021-02-11T18:55:02.683Z

He seems to be good at that.

bigtwnvin · 2021-02-11T20:06:00.793Z

J’Biden is a cement head and has no idea what the ■■■■ he’s doing.

JayJay · 2021-02-11T22:03:08.619Z

Ben_Natuf:

He’s already setting himself up to take credit for vaccinations, when the fact is we we are par to hit 100M in 100 days before he took office. It appears his plan to beat covid is to do exactly what he did to beat trump… let trump do it.

Where are you getting that we’re we’re on track to hit 100 million vaccines in 100 days before he took office?

We’ve only vaccinated about 25 million people in 50 days.

JayJay · 2021-02-11T22:08:41.965Z

Camp:

2.79 in suburbs of Pittsburgh PA.

I am bracing for 4.00 a gallon by Memorial day.

Then you don’t understand the state of oil and gas today.

bigtwnvin · 2021-02-11T22:14:46.874Z

After poo pooing remarks about “China eating our lunch” while on the “Hidin’ J’Biden” campaign trail, today we are told this revelation.
https://www.google.com/amp/s/www.wsj.com/amp/articles/biden-says-china-will-eat-our-lunch-on-infrastructure-11613063295

Borgia_dude · 2021-02-11T22:18:45.256Z

JayJay:

Camp:

2.79 in suburbs of Pittsburgh PA.

I am bracing for 4.00 a gallon by Memorial day.

Then you don’t understand the state of oil and gas today.

Last time gas prices were that high, oil was over $100/bbl. Barring a mid-East war, there is no chance of seeing that price in the next year or two.

Camp · 2021-02-11T22:20:23.785Z

You are correct.

I understood it much better under Trump policy.

Biden doesn’t know what he is doing so how can any of us understand the state of oil and gas today.

I do understand Biden policy wants to reward China by making my gas more expensive.

JayJay · 2021-02-11T22:28:43.360Z

Borgia_dude:

JayJay:

Camp:

2.79 in suburbs of Pittsburgh PA.

I am bracing for 4.00 a gallon by Memorial day.

Then you don’t understand the state of oil and gas today.

Last time gas prices were that high, oil was over $100/bbl. Barring a mid-East war, there is no chance of seeing that price in the next year or two.

Today’s economy can’t handle prices that high.

There simply aren’t enough high wage earners to support $100/bbl oil.

JayJay · 2021-02-11T22:29:19.486Z

Camp:

You are correct.

I understood it much better under Trump policy.

Biden doesn’t know what he is doing so how can any of us understand the state of oil and gas today.

I do understand Biden policy wants to reward China by making my gas more expensive.

No you do not understand there are structural limitations…that have nothing to do with who is in the White House…to how high the price of oil can go.

It can’t go high enough to support $4/gallon gas.

Camp · 2021-02-11T22:35:39.881Z

It has already jumped from 2 to 3 per gallon and with global travel still very much down.

Petroleum demand has HUGE upside as summer arrives and virus weary Americans hit the road.

There is no “structural” limitation to shortages of refined product as demand returns and then exceeds pandemic levels…and prices go up up up…

bigtwnvin · 2021-02-11T22:38:06.638Z

25 mil +1. I’m getting shot #1 tomorrow. I’m 69 y/o, here in MD that over 65 bull ■■■■ don’t mean squat and I work for the county school system driving a bus!

JayJay · 2021-02-11T22:44:01.194Z

Camp:

It has already jumped from 2 to 3 per gallon and with global travel still very much down.

Petroleum demand has HUGE upside as summer arrives and virus weary Americans hit the road.

There is no “structural” limitation to shortages of refined product as demand returns and then exceeds pandemic levels…and prices go up up up…

The average price of gasoline is $2.54…that’s nowhere close to $3.00.

It hasn’t been anywhere near $2.00 a gallon since May of last year…the nadir of prices after the first COVID shutdowns.

And oil and gas have a structural ceiling because even when the economy is at its best, there are not enough high wage earners to support a higher price.

It’s why for close to a decade, oil has fluctuated between $55-$75 a barrel with the occasional very short term moves outside of that band.

Prices can’t go too low or else high cost options like fracking and tar sands go offline.

They can’t go too high or demand destruction happens.

This happens regardless of D or R in the White House.

If this seems puzzling to you…it’s because it’s not a political post, like yours often are when discussing this subject.

Borgia_dude · 2021-02-11T22:57:55.596Z

Camp:

It has already jumped from 2 to 3 per gallon and with global travel still very much down.

Petroleum demand has HUGE upside as summer arrives and virus weary Americans hit the road.

There is no “structural” limitation to shortages of refined product as demand returns and then exceeds pandemic levels…and prices go up up up…

Yes, there are limitations. It is called the Permian where Unconventionals have become the flywheel of oil demand. Price rises? 50-100 more rigs will pop up immediately. Price drops? Rigs are decommissioned. And because the DUC well supply is ample, you don’t even have to wait to drill new wells.

Plus, if price rises dramatically, the Russians and Saudis will lift their production caps.