Crude Oil prices falling off a cliff

[bunsen82]

So is Bidenomics working now? Biden doesn't control supply or demand or countries attacking other countries. Now we can help to solve or protect those countries, but ultimately market dynamics control the prices. With decreasing demand, and geopolitics beginning to take the worst case scenario off the table allowing cooler heads to prevail, the crude oil prices are decreasing which will continue the downward prices at the gas station. Already places are hitting below $3. Now I do think the government just needs to buy oil and not set a price because it will create a floor and individuals will try to bet around it.

It is a very weird dichotomy out there regarding how strong the economy is, while other indicators are showing some pretty strong slowing. I am not sure if it is lag indicators or what is truly occuring here. I do think we will have a mild recession, but if we can have a soft landing that would be a very impressive outcome. Will have to wait and see.

I sure am enjoying get 5.3% on 2 year cds. First time in a while savers can get a decent return on bonds and cd's.

 

[DogBoyRy]

So is Bidenomics working now? Biden doesn't control supply or demand or countries attacking other countries. Now we can help to solve or protect those countries, but ultimately market dynamics control the prices. With decreasing demand, and geopolitics beginning to take the worst case scenario off the table allowing cooler heads to prevail, the crude oil prices are decreasing which will continue the downward prices at the gas station. Already places are hitting below $3. Now I do think the government just needs to buy oil and not set a price because it will create a floor and individuals will try to bet around it.

It is a very weird dichotomy out there regarding how strong the economy is, while other indicators are showing some pretty strong slowing. I am not sure if it is lag indicators or what is truly occuring here. I do think we will have a mild recession, but if we can have a soft landing that would be a very impressive outcome. Will have to wait and see.

I sure am enjoying get 5.3% on 2 year cds. First time in a while savers can get a decent return on bonds and cd's.

$80 oil is falling off a cliff?
Remember when slow joe depleted the reserve and said we’d fill it back up when it got to $70?

 

[Tom Paris]

$80 oil is falling off a cliff?
Remember when slow joe depleted the reserve and said we’d fill it back up when it got to $70?

You're so full of shit you idiot Trump voter.

 

[DogBoyRy]

You're so full of shit you idiot Trump voter.

How’s that?
Oil is at $80 plus. Not exactly off a cliff.
Natty gas also holding on pretty well.

 

[KFsdisciple]

How’s that?
Oil is at $80 plus. Not exactly off a cliff.
Natty gas also holding on pretty well.

Tom doesn't care about facts or figures, he just wants to call people idiots.

 

[bunsen82]

$80 oil is falling off a cliff?
Remember when slow joe depleted the reserve and said we’d fill it back up when it got to $70?

Considering it was $90 less than 5 days ago, yes a nearly 10% drop is a large drop in a short amount of time. Maybe they can refill if we do have a recession. However as stated I would be more than fine if they refilled without telling anyone if it dropped to around $75. Considering they sold around $93 that would be a huge benefit, but I don't think any Republican would want to give him Kudos.

 

[KFsdisciple]

Considering it was $90 less than 5 days ago, yes a nearly 10% drop is a large drop in a short amount of time. Maybe they can refill if we do have a recession. However as stated I would be more than fine if they refilled without telling anyone if it dropped to around $75. Considering they sold around $93 that would be a huge benefit, but I don't think any Republican would want to give him Kudos.

If he doesn't get any blame when prices go up, he doesn't get any credit for prices going down, or doing anything smart like replenishing the SORs at a good price. Blind squirrels still find nuts.

 

[jawatkins]

How about inoffensive oil? Any changes on the sophisticated stuff?

 

[What Would Jesus Do?]

Funny looking cliff

 

[jawatkins]

Funny looking cliff

There be mountains

 

[Obviously Oblivious]

$80 oil is falling off a cliff?
Remember when slow joe depleted the reserve and said we’d fill it back up when it got to $70?

Remember the GW Bush reign of oil terror when crude oil went from ~$20/barrel at the beginning of his first term and then steadily increased over the next 8 years to ~$150/barrel?

Were you freaking out then or doesn't that count?

 

[CarolinaHawkeye]

Remember the GW Bush reign of oil terror when crude oil went from ~$20/barrel at the beginning of his first term and then steadily increased over the next 8 years to ~$150/barrel?

Were you freaking out then or doesn't that count?

That was different.

 

[bunsen82]

Tom doesn't care about facts or figures, he just wants to call people idiots.

If he doesn't get any blame when prices go up, he doesn't get any credit for prices going down, or doing anything smart like replenishing the SORs at a good price. Blind squirrels still find nuts.

What the hell are you talking about?? There really hasn't been a time oil prices have been higher than he sold. Now I think could have bought some earlier this year, but am ok with waiting a bit. Still think this winter will be the ideal time to rebuild the stocks. Unless you just want to look at anything Joe does as negative you can't argue this appears to be a good use of the stocks.

 

[jawatkins]

All I know is this might be the last week of good weather so I’m having a good time. Who is with me?!?!?

 

[Slappy Pappy]

What the hell are you talking about?? There really hasn't been a time oil prices have been higher than he sold. Now I think could have bought some earlier this year, but am ok with waiting a bit. Still think this winter will be the ideal time to rebuild the stocks. Unless you just want to look at anything Joe does as negative you can't argue this appears to be a good use of the stocks.

These conversations are so laughable. Just buy electrics, people, and never have to worry about "the stocks" again.

 

[Flie]

If he doesn't get any blame when prices go up, he doesn't get any credit for prices going down, or doing anything smart like replenishing the SORs at a good price. Blind squirrels still find nuts.

Yep, nobody blaming Biden for high gas prices. LOL

 

[srams21]

If he doesn't get any blame when prices go up, he doesn't get any credit for prices going down, or doing anything smart like replenishing the SORs at a good price. Blind squirrels still find nuts.

I've long maintained that Presidents, Democrat or Republican, have way less influence on gas prices than people think.

 

[jawatkins]

Yep, nobody blaming Biden for high gas prices. LOL

If y’all would stop driving for a month or two I could enjoy some cheaper gas.

 

[Flie]

If y’all would stop driving for a month or two I could enjoy some cheaper gas.

I have to fill up about once a month. My car averages around 35 mpg and I work from home.

 

[jawatkins]

I have to fill up about once a month. My car averages around 35 mpg and I work from home.

I don’t get gas often either really. I always guess what the price will be before I get there and I’m not a good guesser.

 

[Tom Paris]

Tom doesn't care about facts or figures, he just wants to call people idiots.

Not surprised you agree with him.

 

[Tom Paris]

Remember the GW Bush reign of oil terror when crude oil went from ~$20/barrel at the beginning of his first term and then steadily increased over the next 8 years to ~$150/barrel?

Were you freaking out then or doesn't that count?

He didn’t say one damn thing.

 

[jawatkins]

Remember the GW Bush reign of oil terror when crude oil went from ~$20/barrel at the beginning of his first term and then steadily increased over the next 8 years to ~$150/barrel?

Were you freaking out then or doesn't that count?

I remember those times. I was a pizza delivery driver getting 75 cents of the delivery fee for gas and maintenance and well to do folk were not being kind on tips but the lower income folks did what they could and knew we were all living a bit rough. Also the Tampa bay baseball team dropped ‘devil’ from their name which I didn’t like.

 

[The Tradition]

Funny looking cliff

The pink bars certainly look like a recent cliff, but your chart has no legend telling us what the pink bars represent.

 

[joelbc1]

$80 oil is falling off a cliff?
Remember when slow joe depleted the reserve and said we’d fill it back up when it got to $70?

Well dog, $80/barrel ain’t $70/barrel, is it? And if I remember correctly it was the Republican MAGAts who were screaming for ol’ Joe to dip into the reserve to stabilize gas prices.

 

[abby97]

You're so full of shit you idiot Trump voter.

Stick to dodgeball, economics is not your strong suit.

 

[What Would Jesus Do?]

The pink bars certainly look like a recent cliff, but your chart has no legend telling us what the pink bars represent.

Crude Oil Dec 23 (CL=F) Stock Price, News, Quote & History - Yahoo Finance

Find the latest Crude Oil Dec 23 (CL=F) stock quote, history, news and other vital information to help you with your stock trading and investing.

finance.yahoo.com

 

[joelbc1]

Stick to dodgeball, economics is not your strong suit.

And economics is yours?

 

[SA_Hawk]

You're so full of shit you idiot Trump voter.

Depleted oil reserves and the brink of WW3 don’t go well together.

 

[jawatkins]

Depleted oil reserves and the brink of WW3 don’t go well together.

Meh, the war machine hasn’t even begun to show its power.

 

[CarolinaHawkeye]

Stick to dodgeball, economics is not your strong suit.

Self-awareness is not your strong suit. Or any suit for that matter.

 

[Hoosierhawkeye]

I've long maintained that Presidents, Democrat or Republican, have way less influence on gas prices than people think.

Very little really.

Quite frankly they have very little effect on the economy.

It would be better for everyone if we selected Presidents for the values by which they govern, legislation they have pushed and managed to pass and their foreign policy decisions.

 

[millah_22]

*Youth paster voice*

You know who else fell off a cliff?

 

[DogBoyRy]

Well dog, $80/barrel ain’t $70/barrel, is it? And if I remember correctly it was the Republican MAGAts who were screaming for ol’ Joe to dip into the reserve to stabilize gas prices.

Oh yeah.
We were begging for him to sell oil and help china.

 

[abby97]

Very little really.

Quite frankly they have very little effect on the economy.

It would be better for everyone if we selected Presidents for the values by which they govern, legislation they have pushed and managed to pass and their foreign policy decisions.

I'm sorry, I don't agree. When modern presidents rule over a recently created and overly burdensome regulatory environment, when printing money we don't have has become standard practice, when deciding what fuels we can and can't use and when presidents continue to pass or lobby for increasing government control over healthcare, tax law as well as minimum wage laws and working conditions, they have a much bigger influence on our economy than they should have. If we would go back to allowing the private sector to make most of our economic decisions, America would be in a much better place.

 

[theiacowtipper]

If he doesn't get any blame when prices go up, he doesn't get any credit for prices going down, or doing anything smart like replenishing the SORs at a good price. Blind squirrels still find nuts.

Ok, but if he was blamed when prices went up you have to give credit for them going down? Right?

 

[Hoosierhawkeye]

I'm sorry, I don't agree. When modern presidents rule over a recently created and overly burdensome regulatory environment, when printing money we don't have has become standard practice, when deciding what fuels we can and can't use and when presidents continue to pass or lobby for increasing government control over healthcare, tax law as well as minimum wage laws and working conditions, they have a much bigger influence on our economy than they should have. If we would go back to allowing the private sector to make most of our economic decisions, America would be in a much better place.

Yeah America was such a great place to be for ordinary people during the gilded age.

You know when 12 year olds were losing their hands in factories because we wouldn't want government regulations requiring factories to hire adults or have actual safety standards. That would destroy private industry and totally ruin America into one were kids become weak snowflakes because they havn't experienced any challenge in their life such as losing a hand but not being able to afford to see a doctor or living their entire lives with only one hand.

We've all become weak little 2 handed snowflakes because of all that terrible government regulation.

Also private industry has been crushed by their record profits.

 

[KFsdisciple]

Ok, but if he was blamed when prices went up you have to give credit for them going down? Right?

Maybe on a personal level that's true but big picture he gets no credit for something he has no control over.

 

[theiacowtipper]

Maybe on a personal level that's true but big picture he gets no credit for something he has no control over.

I mostly agree. Presidents do have some control. If Biden invades Iran prices will spike. That’s on him. If for some reason he shuts down domestic oil production on federal lands. That’s on him. There are some instances where it’s on the president. Most of the time POTUS is a bystander.

 

[What Would Jesus Do?]

I have to fill up about once a month. My car averages around 35 mpg and I work from home.

I fill up about once a year. My car gets embarrassingly low mileage - considering my views on climate change - but I drive so little, mileage isn't a problem. I am thinking about getting something new or newer, but that's for features, not mileage. What I get will have good mileage, but that's a secondary consideration.

Of course once I get a spiffy new car, I'll probably drive a lot more. Which will single-handedly worsen global warming. So I guess I shouldn't get a new car.