How long until Biden takes credit?

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.

JayJay · 2021-02-11T23:11:08.655Z

Borgia_dude:

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.

Right and the natural limitations to price increases as well.

But to people who think oil is oil, and there are no other factors, it’s always as simple as drill baby drill.

bigtwnvin · 2021-02-12T00:58:03.409Z

image1080×1080 98.5 KB

Ben_Natuf · 2021-02-12T11:34:43.539Z

more interesting tid bits

Barnes said. “We have some concerns around the idea of a domestic testing requirement, because not only would it require a 42% increase in the testing capacity nationwide, but it’s really not scalable, feasible or effective.”

once again… trump was right

https://www.miamiherald.com/news/coronavirus/article249154715.html

AceRothstein · 2021-02-12T12:24:34.226Z

bigtwnvin:

That’s one of the dumbest things I’ve ever seen.

DougBH · 2021-02-12T13:26:29.365Z

JayJay:

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.

Here in Texas the state health department had already set up an online map of places that were going to distribute the vaccine. In Dallas, that included the county health department with a major operation in Fair Park, CVS, Walgreens, other pharmacies, doctors offices, hospitals.
All this was ramping up as more drug companies made more vaccines available.
The structure was already all in place when Biden took over.
All that remains is for the production of the vaccines to ramp up.
And for Biden to claim he did it all…

Ben_Natuf · 2021-02-12T14:12:17.196Z

you must be confused, in the waning days of the trump administration they were averaging about 900K per day, and were on track to go higher. At one point hitting 1.6M in one day. The work was already done to achieve this. Biden’s goal, was nothing more than to continue with what was already in place.

Hexenbiest · 2021-02-12T17:27:35.745Z

Is it any worse than giving the governor of New York and emmy, or aka the “Governor of the nursing home massacres”. And that wasn’t a meme like you just read but an emmy.

sikofit · 2021-02-12T17:35:18.641Z

WuWei:

Could the reduction be due to the end of a Christmas surge?

But the increase wasn’t due to a Christmas surge?

JayJay · 2021-02-12T17:38:54.547Z

Ben_Natuf:

you must be confused, in the waning days of the trump administration they were averaging about 900K per day, and were on track to go higher. At one point hitting 1.6M in one day. The work was already done to achieve this. Biden’s goal, was nothing more than to continue with what was already in place.

Those are doses not people.

And 200 million/1 million would be 200 days, not 100 days.

And they weren’t averaging that fast at the beginning.

Ben_Natuf · 2021-02-12T17:39:42.147Z

didn’t take long at all

Fox News

Biden says 'almost everybody' could have COVID-19 vaccines by 'the end of...

President Biden said Friday that it is his hope that by “the end of summer almost everybody” will have received a COVID-19 vaccine.

how many times did trump say by the end of summer? yet he was painting rosie pictures.

and those “extra” 200M doses, an option in the contracts trump negotiated.