Crude Oil prices falling off a cliff

[abby97]

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.

You may have missed the point of my post. I never stated we should have no government oversight, I said the current regulatory environment was overly burdensome and restrictive to the point where it creates an unnecessary negative drag on economic growth. I'm not sure how trying to eliminate gas stoves and requiring McDonalds workers to be paid $15.00 per hour could save the appendeges of small children. But feel free to make absurd exagerations to try and validate your ridiculous statement that presidents don't actually affect our economy.

 

[DooBi]

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

And vice versa? Right?

 

[What Would Jesus Do?]

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.

On the flip side, if we hadn't become Europe's supplier of LNG because of the Ukraine war, prices would be lower.

Do we blame that on Biden?

Ds and Rs were all gung ho to save Ukraine early on, and certainly Big Oil was gung ho to fill the energy void following sanctions and Russian gaming. A lot of people even said higher gas prices were worth it to help Ukraine.

But now it's Biden's fault?

Similarly, if we invest in serious green energy development, that will lower gas prices by lowering demand. Should Biden get the credit for that?

Russia and our good friends Saudi Arabia agree to cut oil production. That increases prices. Is that Biden's fault?

Biden makes peace overtures toward Venezuela that will result in increasing the availability of Venezuelan oil. That lowers prices. Does he get credit for that?

I could go on.

Point being that Presidents can and do have an impact, but not only is it not fully on them, but it's a lot more complicated than the FOX-addled seem to understand.

 

[Hoosierhawkeye]

You may have missed the point of my post. I never stated we should have no government oversight, I said the current regulatory environment was overly burdensome and restrictive to the point where it creates an unnecessary negative drag on economic growth. I'm not sure how trying to eliminate gas stoves and requiring McDonalds workers to be paid $15.00 per hour could save the appendeges of small children. But feel free to make absurd exagerations to try and validate your ridiculous statement that presidents don't actually affect our economy.

Neither of the 2 things you mentioned are actual laws and corporations are still making record profits and the workers do not seem to be sharing in these gains.

 

[abby97]

Neither of the 2 things you mentioned are actual laws and corporations are still making record profits and the workers do not seem to be sharing in these gains.

That was the point of the post! NEITHER of those two things are laws yet the administrative state, run by the president, are implementing them (as well as thousands of other extra legal edicts) and those are the types of things the president should not be doing without legislative action! Those are also the type of negative moves that adversely affect our economy.

 

[bunsen82]

Crude oil prices down to $77 and gas prices on average in the state are right around the $3. The prices have fallen nearly 15%. May hit close to the $70 mark and the US can begin to refill the strategic reserve.

 

[Sharky1203]

On the flip side, if we hadn't become Europe's supplier of LNG because of the Ukraine war, prices would be lower.

Do we blame that on Biden?

Ds and Rs were all gung ho to save Ukraine early on, and certainly Big Oil was gung ho to fill the energy void following sanctions and Russian gaming. A lot of people even said higher gas prices were worth it to help Ukraine.

But now it's Biden's fault?

Similarly, if we invest in serious green energy development, that will lower gas prices by lowering demand. Should Biden get the credit for that?

Russia and our good friends Saudi Arabia agree to cut oil production. That increases prices. Is that Biden's fault?

Biden makes peace overtures toward Venezuela that will result in increasing the availability of Venezuelan oil. That lowers prices. Does he get credit for that?

I could go on.

Point being that Presidents can and do have an impact, but not only is it not fully on them, but it's a lot more complicated than the FOX-addled seem to understand.

Kind of is, he signed orders to shut down pipelines, cut off drilling in Alaska and offshore, then restricted railway transport of oil. That will drive up the price of anything no matter what it was, not just crude oil.

 

[bunsen82]

Oil Prices hit $72. Should be able start refilling strategic reserve.

 

[McLovin32]

Oil Prices hit $72. Should be able start refilling strategic reserve.

I'm sure someone will be along to tell us why this is a horrible thing here shortly

 

[srams21]

I'm sure someone will be along to tell us why this is a horrible thing here shortly

Gas is getting cheaper, inflation is decreasing, unemployment is low ... shit is just terrible.

 

[95Hawk]

Gas is getting cheaper, inflation is decreasing, unemployment is low ... shit is just terrible.

And US production and output are at record levels. But…you know…sh*t is bad.

 

[luvmyhawks]

And US production and output are at record levels. But…you know…sh*t is bad.

Which will help to continue to improve inflation.

Just filled up today for $2.90 a gallon. I was pretty happy with that.

 

[Bonerfarts]

After reviewing this thread Biden doesn’t get credit for oil prices only blame.

 

[Chishawk1425]

Gas is getting cheaper, inflation is decreasing, unemployment is low ... shit is just terrible.

Bidens old

 

[anon_b29nm7v7dwp6r]

just filled up for 2.75 at Costco this morning….but yeah….apparently everything is bad….

 

[comp_sci_hawk]

Gas is getting cheaper, inflation is decreasing, unemployment is low ... shit is just terrible.

But now the MAGAts can't afford their $75k trucks because of a few interest rate points. They have no where to hang their flags from, or throw the Let's go Brandon stickers on the back window. They are angry because the 7 year payment went up by $100/month.

 

[MitchLL]

The economy, oil prices, inflation trends and the like are all positives right now.

It's the main reason the Radical Right is hoping the US is drawn into the Israel/Hamas war.

The Republicans can't afford to have the WH announce more positive news.

 

[joelbc1]

Gas is getting cheaper, inflation is decreasing, unemployment is low ... shit is just terrible.

Scrams...that’s life in the middle of a recession, you know.

 

[ANYCHawk]

I'm sure someone will be along to tell us why this is a horrible thing here shortly

I gave your mom a refill of my oil reserve

 

[McLovin32]

I gave your mom a refill of my oil reserve

 

[srams21]

Scrams...that’s life in the middle of a recession, you know.

So I'm finding out!

 

[srams21]

I gave your mom a refill of my oil reserve

That makes sense. She was on E when I left her.

 

[bunsen82]

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

So has it fallen off a cliff yet???? Down to $68. Just waiting to hear the agreements to fill the strategic reserve.

 

[Obviously Oblivious]

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

Since this post of yours in late October WTI crude now trading under $70/barrel. Natural gas had an even bigger price drop over the same period from $3.48 to $2.32 today. That's a 33% decline in just 50 days. Is that enough of a cliff for your purposes? Will you only be happy when it's free? You must be a really miserable person.

Do you hear that sound? It's the strategic oil reserve filling up and the sound of Putin's head exploding as he watches his black market energy profits circle the drain.

 

[DogBoyRy]

Since this post of yours in late October WTI crude now trading under $70/barrel. Natural gas had an even bigger price drop over the same period from $3.48 to $2.32 today. That's a 33% decline in just 50 days. Is that enough of a cliff for your purposes? Will you only be happy when it's free? You must be a really miserable person.

Do you hear that sound? It's the strategic oil reserve filling up and the sound of Putin's head exploding as he watches his black market energy profits circle the drain.

Yep
Would be a good time to buy back the 120 million barrels instead of the 10 slow joe is planning on buying.

 

[Bonerfarts]

Yep
Would be a good time to buy back the 120 million barrels instead of the 10 slow joe is planning on buying.

DogBoy has government buyside insider information. He knows the score.

 

[VodkaSam]

Filled up Sunday and paid $2.48/gallon. Today it’s $2.45/gallon.

Saw some old disheveled guy in a junk car with a “Trump 2024” bumper sticker angrily scraping “Thanks Biden” stickers off the pumps.

 

[joelbc1]

And yet the “informed” Iowa day care entrepreneur stated on national news last night she is supporting Trump in the caucus next month and her reason is.....”skyrocketing” gasoline prices!
Another phuquin’ rocket scientist supporting Trump! Sadly, America is full of these knee-jerk dumbshits!
For the record today I paid $2.61/gallon on 86th St. in Urbandale. (3 blocks down the street, I could have paid $2.79/ gallon.)

 

[Obviously Oblivious]

And yet the “informed” Iowa day care entrepreneur stated on national news last night she is supporting Trump in the caucus next month and her reason is.....”skyrocketing” gasoline prices!
Another phuquin’ rocket scientist supporting Trump! Sadly, America is full of these knee-jerk dumbshits!
For the record today I paid $2.61/gallon on 86th St. in Urbandale. (3 blocks down the street, I could have paid $2.79/ gallon.)

If you’re a poor like me it’s wise to do some due diligence before filling up the tank. Gas Buddy is your friend. Prices are headed the right direction though.

 

[95Hawk]

Even the woke and extra liberal business media sector is in on the scam. Why won’t they report the truth about skyrocketing energy prices?

 

[Here_4_a_Day]

bidenomics is about to turn our economy on its back.......

 

[95Hawk]

bidenomics is about to turn our economy on its back.......

Better than on your knees for the orange turd.

 

[IowaPackFan]

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.

This can be said for damn near or anything and everything— Stock market, housing, gas prices, covid deaths, interest rates, cost of milk, etc. And you’re always gonna find idiots who will blame them, or take credit for them, when things go bad or good depending on what team may support.

 

[Here_4_a_Day]

Better than on your knees for the orange turd.

Yes, the best economy ever is highly overrated.

 

[95Hawk]

Yes, the best economy ever is highly overrated.

I mean: ever a basic Google search would prove you to be incorrect.

Keep slurping, big fella

 

[lucas80]

DogBoy has government buyside insider information. He knows the score.

He owns two condos. He's kind of a big deal in financial circles.

 

[Here_4_a_Day]

I mean: ever a basic Google search would prove you to be incorrect.

Keep slurping, big fella

Two words: stock...market.

 

[lucas80]

Filled up Sunday and paid $2.48/gallon. Today it’s $2.45/gallon.

Saw some old disheveled guy in a junk car with a “Trump 2024” bumper sticker angrily scraping “Thanks Biden” stickers off the pumps.

Being a MAGAt means never having to say you are sorry, or admit you were wrong. If you are proven wrong you scream that you were misquoted / taken out of context, The media is biased and lying. Soros, but they totally aren't anti-Semitic. Or, they just stroke their AR-15 and fantasize about taking you out when the hour of purification arrives.

 

[joelbc1]

Two words: stock...market.

Two more words for you Here…….,
Record Profits.

 

[95Hawk]

Two words: stock...market.

Oh. So now we’re changing the definition of “best economy ever” to stock market performance?

Okay. I give you Bill Clinton and Barack Obama.

Want to move the goalposts again ?