Diesel prices take a jump yet again

[jyoutz]

I would like to point out that my post was related to what things are looking like today and where it seems things are headed. I did not mention any names. I mentioned President Obama using his quote "actions have consequences", then did not want to mention names, so I deleted that. But I do feel gov (OUR gov, not dem or rep.) has a responsibility to ADDRESS some of these situations. And yes Moss, I was taken by surprise when Sams Club had no meat or any paper products. But that still doesn't solve what we seem to be headed toward today.

I am seeing the term recession more and more in economic predictions. And as we talk of fuel prices, I don't think it is inappropriate to mention that the inflation rate is at a 40 year high. I did not access blame. If others want to do that, fine. But I would like to see more done in solutions. I would really like to see some of President Clinton's attempts to balance the budget. He was the last to do that. I think that ship has sailed. Sailed to about 20-30 trillion. And I do believe that is inflationary.

I had no intention of political referrences. But, I guess it is difficult to avoid if you mention government. And I am glad you shared the status regarding leases on gov land. But something seems amiss. It was my understanding that we were independent a few years ago. If that was true, why are imports the problem now?

There was another thread on inflation. Most of us here have purchased 7/16" (1/2) OSB. it was $8.62 two years ago, $40.99 one month ago, and yesterday, 50.99 - prices at Lowes in the Midwest. It is NOT just fuel.

Well, I am sorry that this thread became somewhat derailed because of my post. I won't post again on this thread. But I will continue to read it. I read a lot, I value input from members here a lot. Best Wishes, Larry

I’m not sure if we were ever energy independent a few years ago. My only point is we are producing the same as a few years ago. Possibly we have more demand today. Or possibly our supply is reduced because more is being exported to take advantage of high worldwide prices. I have also read articles that the bottleneck in the US is not producing crude oil, it’s refinery capacity. Maybe a little of all of the above?

 

[jyoutz]

NO MEAT on the shelves??? People with
cats & dogs better watch them closely
We used to eat a lot of cheese. Purchase a
40 lb block and have it shipped to us. Then
cut block up into 5 lb blocks and put in vaccum
bags put in frig at 40 degress good for life time

willy

Wow. How big is a 40 pound block?

 

[jyoutz]

I do get a kick out it of the almost constant bringing up of Detroit, most of it is foisted by the main stream media.

All I know is, last time I hunted in New Mexico I found it somewhat disturbing, the amount of abandoned cars just lying about and the amount of people I saw living in squalor.

Of course there are well to do people living in MN but that don't offset the fact that your state has the largest percentage of people living on welfare and other government sponsored programs. Been to NM more than once.

Ever been to Detroit? I think not so don't base you comments on what you hear or read until you have first hand experience.

Sure, there are parts of Detroit that are unsavory, just like most large metropolitan cities. No revelation there.

So now you’re bashing states? What does that possibly have to do with this discussion? And some of your fuel probably comes from here because we are the second largest producer. And yes Detroit is an arm pit whose glory days were last century.

 

[MossRoad]

...It was my understanding that we were independent a few years ago. ...

We who?

That's the thing that people seem to not understand. The government, for a long, long time, has sold leases to companies permitting them to extract "OUR" natural resources (gas, oil, coal, lumber, etc.) at ridiculously low prices, then sell it back to us and anyone that will buy it world-wide at whatever the market price is.

 

[deserteagle71]

Listening to the local (Reno, Nevada, about 175 miles away) news just now. They are warning people that on US Highway 395 in California the fuel price in the town of Bridgeport, California gasoline is $7 a gallon starting today, and diesel is $8 a gallon. Gonna make sure those tourists heading from southern California for the Lake Tahoe region pay for their pleasure!

 

[deserteagle71]

The government, for a long, long time, has sold leases to companies permitting them to extract "OUR" natural resources (gas, oil, coal, lumber, etc.) at ridiculously low prices, then sell it back to us and anyone that will buy it world-wide at whatever the market price is.

So....tell us what YOU think the oil companies should be paying for extracting oil out of the ground? You don't think fuel prices are high enough yet? Or you don't think having them pay more to extract will be passed on to the consumer?

 

[MossRoad]

So....tell us what YOU think the oil companies should be paying for extracting oil out of the ground? You don't think fuel prices are high enough yet? Or you don't think having them pay more to extract will be passed on to the consumer?

I don't think anything. I use gas. I drive often. None of my vehicles are considered fuel efficient. I use electricity. I'm pro nuclear power and think ethanol is a waste of BTUs. I dislike wind farms. I don't mind solar installations, especially small solar on homes and businesses.

I just don't like people spreading inaccurate information that "they heard" without checking to see if it's true or not.

Oil prices are high because people are still paying for it. Capitalism says charge as much as the market will bear. Supply and demand.

As to oil leasing and permits, again, do some reading. Search for yourself and read as many things as you can. It's pretty clear that oil companies have enough leases and permits, are not buying as many leases, and are letting existing permits expire without using them.

As of March, 2022, 60% of acreage leased to oil producers sits unused, according to the Department of the Interior.

Another thing... 8,000 permits were counted that oil companies had not used or had allowed to forfeit between 2016 and 2021.

Again, supply and demand.

Read this

 

[Hay Dude]

A lot of leases or permits are on wells that are dry, underproduce, or produce nothing (dry). If new leases or permits are not forthcoming, then where do they drill?
Oil companies have lots of land they opt not to drill on because after they leased it, further research shows they won’t make much oil or gas from it.

 

[lman]

Another reason for the fuel price increases is the same reason inflation is higher than it has been for 40 years. Uncle Sam decided to print trillions of dollars and pump it into the economy. Our leaders never learned basic economics in high school.

 

[Hay Dude]

Another reason for the fuel price increases is the same reason inflation is higher than it has been for 40 years. Uncle Sam decided to print trillions of dollars and pump it into the economy. Our leaders never learned basic economics in high school.

^^^^YES ^^^^

80% OF ALL DOLLARS HAVE BEEN PRINTED IN JUST THE LAST 2 YEARS

80% of All US Dollars in Existence Have Been Printed in Just the Last Two Years

If you want to know the scope of the fiscal nightmare approaching, realize that since January 2020, the United States has printed nearly 80% of all US dollars in existence.

thefreethoughtproject.com

THIS is why we have inflation, not “greedy corporations”.