Fuel prices around the world.

[lman]

It all depends on what direction the political wind is blowing and what day of the week it is.

 

[jyoutz]

Hah
CNN & NPR... Now there’s a reliable source


From Mossy’s CNN article:

…..Looking ahead, the industry is more eager to increase production than it was in the fall, said McNally, in part because they are less concerned about US government efforts to limit fossil fuel production in an effort to fight climate change.

“The Biden administration is suddenly interested in more drilling, not less,” McNally said. “People are more worried about high oil prices than anything else.”

That part that is underlined tells me a lot right there.

Still grinding your axe

 

[jyoutz]

It all depends on what direction the political wind is blowing and what day of the week it is.

It is more dependent on shareholder interests.

 

[Reddogs]

I would call plateau the correct word. I am sorry if I am struggling to make my point. A person (or company's) desire to ramp production temporarily, could adversely be effected by being treated like an enemy of the state. Most of the activity you noted above had been in the planing stages for many years.

Policy changes are like mating elephants, it is done at a very high level, and takes a long time to see the results.

Again, not picking at you, or really anyone, if I was a little smarter, or more eloquent, I could get people to see how/why things are done. The deficit is with me.

Best,

ed

My thought would be, why would the oil companies even want to ramp up production, as they know the less oil, the more profit.....

 

[MossRoad]

Still grinding your axe

He's got plenty of axe to grind, as part of his business is dependent on fuel prices. I just think he's stuck on one point of a multi-pointed issue.

 

[lman]

My thought would be, why would the oil companies even want to ramp up production, as they know the less oil, the more profit.....

It seems that competition is not as much a factor as it used to be. Could be some collusion with the oil companies.

 

[jyoutz]

Hah
CNN & NPR... Now there’s a reliable source


From Mossy’s CNN article:

…..Looking ahead, the industry is more eager to increase production than it was in the fall, said McNally, in part because they are less concerned about US government efforts to limit fossil fuel production in an effort to fight climate change.

“The Biden administration is suddenly interested in more drilling, not less,” McNally said. “People are more worried about high oil prices than anything else.”

That part that is underlined tells me a lot right there.

Actually they are very respected news sources. Name your sources of news. Opinion show hosts? Political sound bites? The guys at the coffee shop?

 

[MossRoad]

Actually they are very respected news sources. Name your sources of news. Opinion show hosts? Political sound bites? The guys at the coffee shop?

You just have to separate the news from the opinion pieces. A lot of folks take editorials as fact, when it's opinion. That's hard to do on a news talk show, as they usually show a news piece, then discuss it. The news was fact. The discussion is opinion.

 

[Helogabals]

Just random station in Germany

2,15 €/L = 8.89 $/GAL

 

[Hay Dude]

Anyone who thinks CNN and NPR don’t have a deep “slant” in one direction is delusional. I’m sorry to say that, but it’s true. They trash one side and glamorize the other. It’s heavily biased one way opinions.
CNN is loaded with hosts who present news in a very one-sided manner. Many of their “opinion journalists” have gotten themselves in trouble getting cozy with bad actors and other affairs. They’ve recently had a big shake up in their top management, too.
NPR is a taxpayer funded organization who only reports positive news for one side and trashes the other.

I don’t spend much time listening to either since I know I will be getting a lot of opinions and biases.

 

[Hay Dude]

Actually they are very respected news sources. Name your sources of news. Opinion show hosts? Political sound bites? The guys at the coffee shop?

Since you are so convinced they are “respected”, tell us who you think on CNN reports information without any bias.

 

[Fuddy1952]

My thought is the world should see Putin for the tyrant he is. Any trade with Russia is only funding the war. We have our own oil to supply our needs and should lower the price.

 

[Hay Dude]

He's got plenty of axe to grind, as part of his business is dependent on fuel prices. I just think he's stuck on one point of a multi-pointed issue.

There’s truth in the first sentence. And believe me, I’m not the only one! There’s a lot of us who can have a make or break year based on fuel prices. You don’t have nearly as much to lose.
Sometimes it’s ok to view life through another persons suffering. Its no secret most TBNers own smaller machines and fuel prices not a big issue, so maybe that’s why you don’t get why people like me are so frustrated.
Agree that it’s a multi-point issue. I have stated the points that I believe affecting soaring fuel prices- policy, war are the ones most affecting with Covid, supply/demand as secondary in this recent 100% + increase.
Maybe the reason I focus on one point (policy) more than the rest is because it’s the one that could be changed the fastest. It’s the one where mercy could be shown on people trying to make NDA meet and help them the fastest.

Can you and jyoutz understand that?

 

[Reddogs]

Just random station in Germany

2,15 €/L = 8.89 $/GAL

View attachment 736261

I know when I was in Italy the price was 81c a liter which I figured around 3 and a half dollars a gallon, so this would be double. So that would be roughly about 7 dollars a gallon.

 

[Snobdds]

Oil prices at this level are destroying demand. Remember that commodity price charts aren't just numbers on a screen, they represent the real goods we need to survive. commodities prices are inverse indices of human flourishing. down = abundance, up = misery.

Oil price rises are akin to rate hikes. they inhibit economic activity and at sufficiently high levels, plunge us into recession. energy -> fertilizer -> food. costly energy = starve in the dark.

We may be in the initial stages of stagflation. Those that are over leveraged will bear the brunt of this next recession. Hold on tight.

 

[jyoutz]

Since you are so convinced they are “respected”, tell us who you think on CNN reports information without any bias.

They have “hard news” reporters/and programming (most of the war reporting is hard news). They have evening opinion shows with hosts like Don Lemon. Most critics don’t understand this and distinguish between them. If someone is stating their opinions, it isn’t hard news. Some cable networks are only opinion shows, not hard news. CNN and PBS are good about having both types of programming.

 

[jyoutz]

There’s truth in the first sentence. And believe me, I’m not the only one! There’s a lot of us who can have a make or break year based on fuel prices. You don’t have nearly as much to lose.
Sometimes it’s ok to view life through another persons suffering. Its no secret most TBNers own smaller machines and fuel prices not a big issue, so maybe that’s why you don’t get why people like me are so frustrated.
Agree that it’s a multi-point issue. I have stated the points that I believe affecting soaring fuel prices- policy, war are the ones most affecting with Covid, supply/demand as secondary in this recent 100% + increase.
Maybe the reason I focus on one point (policy) more than the rest is because it’s the one that could be changed the fastest. It’s the one where mercy could be shown on people trying to make NDA meet and help them the fastest.

Can you and jyoutz understand that?

I do understand that, but we have said and posted links to sources that demonstrate that policy isn’t much driving fuel prices at this time. Producers can produce more but are choosing not to, or to ramp up slowly due to their own business reasons.

 

[MossRoad]

There’s truth in the first sentence. And believe me, I’m not the only one! There’s a lot of us who can have a make or break year based on fuel prices. You don’t have nearly as much to lose.
Sometimes it’s ok to view life through another persons suffering. Its no secret most TBNers own smaller machines and fuel prices not a big issue, so maybe that’s why you don’t get why people like me are so frustrated.
Agree that it’s a multi-point issue. I have stated the points that I believe affecting soaring fuel prices- policy, war are the ones most affecting with Covid, supply/demand as secondary in this recent 100% + increase.
Maybe the reason I focus on one point (policy) more than the rest is because it’s the one that could be changed the fastest. It’s the one where mercy could be shown on people trying to make NDA meet and help them the fastest.

Can you and jyoutz understand that?

Sure, I understand that. I think in the past year I've agreed with your view of how it affects your business several times. You're at the mercy of commodity prices. When fuel prices are low, it costs you less, you make more profit. When they're high, you make less, maybe even lose money. But you're putting the main blame on policy, when the main cause right now is the industry's focus on profit for shareholders. Yes, policy has some to do with it, but for the most part, the industry is sitting on leases that haven't been tapped, wells that have been mothballed, and no desire to ramp up production like they did in 2008 when oil was $120 a barrel, only to have it fall to $30 a barrel 5 months later, causing a bunch of oil company bankruptcies and consolidations. They remember that, and won't readily ramp up production when profits are already good. Why risk the investment?

As for the comments about me not having nearly as much to lose... as compared to who?

 

[Hay Dude]

Sure, I understand that. I think in the past year I've agreed with your view of how it affects your business several times. You're at the mercy of commodity prices. When fuel prices are low, it costs you less, you make more profit. When they're high, you make less, maybe even lose money. But you're putting the main blame on policy, when the main cause right now is the industry's focus on profit for shareholders. Yes, policy has some to do with it, but for the most part, the industry is sitting on leases that haven't been tapped, wells that have been mothballed, and no desire to ramp up production like they did in 2008 when oil was $120 a barrel, only to have it fall to $30 a barrel 5 months later, causing a bunch of oil company bankruptcies and consolidations. They remember that, and won't readily ramp up production when profits are already good. Why risk the investment?

As for the comments about me not having nearly as much to lose... as compared to who?

Me?
Based on what I know about you and your situation, you have far less to lose than myself or anyone who runs an equipment intensive business.

 

[Snobdds]

Me?
Based on what I know about you and your situation, you have far less to lose than myself or anyone who runs an equipment intensive business.

Why aren't you hedging against fuel prices?