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5 hours ago, datzenmike said:

So if the US is the largest producer why the high price? I bet they sell it on the world market for huge profits rather than selling it at home. I bet they get wet every time the price goes up

US is on the edge of being a net producer or user, meaning US uses about what it produces.   When we started producing shale oil is when we became closer to being a net producer maybe 10-15 years ago - I tink.  The commodities traders in Chicago trade it all day long, and they set the price for WTI or West Texas Intermediate crude oil, which is the benchmark for oil.  The saudis have more of the heavy oil and get more money for that than we do for wti.  Traders and producers all want the highest price for what they got, so if OPEC limits production which will push all prices higher, then producers and traders will raise prices because they can.

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The president can have a short term effect on the price of oil by releasing some of our strategic petroleum reserves, which is 714 billion barrels.  US uses about 6.66 billion barrels a day, so that’s about 100 days of reserves.  If he releases oil, the price will go down - it puts a little foam in the market.  Usually the threat of releasing oil from the reserves will cause prices to go down by OPEC not actually decreasing production.  But it is temporary.

 

Long-term, the president can make policy through legislation, to perhaps raise the gas tax, and cause folks to use less oil, which lowers the actual price of the oil, but the higher taxes will cause you to not see a lower price at the pump.  Long-term less use will lower prices.  Taxes never go down.  The president could also create a policy to encourage electric cars, which use no or less oil, which is probably where we are headed, which will also lower demand and the price of oil.

 

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21 hours ago, paradime said:

What's going on with oil production and gas prices right now? It's all part of Biden's socialist power grab to take everyone's guns away, make them shave their arm pits, eat tofu, and drive electric cars. Or may the market is correcting after being shut down for a year due to CV-19. 

 

Or he stopped drilling permits, halted fracking and shut down Keystone. Yeah, Covid 

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25 minutes ago, Jesse C. said:

 

Or he stopped drilling permits, halted fracking and shut down Keystone. Yeah, Covid 

This fracking was shitting the bed before Biden. Simply don't believe politicians especially presidents. 

https://www.technologyreview.com/2021/07/01/1027822/fracking-boom-jobs-industry/

Dav you are pretty spot on with the reality and not the shit the previous and now current president shout out. We are in for a ride of higher costs for everything. Even if you took cars out of the equation you have oil in a about everything you own. Plastic, Clothing, your home, paint ect. is all synthesized from oil. Even 90% of the electricity ( depending where you live) is from oil or natural gas. So all these electric cars are running on hydrocarbons with the additional loss of heat to mechanical loss to electrical loss to charging loss back to mechanical is a mess. Nothing green about an electrical car.

Oh

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2 hours ago, Dav said:

The president can have a short term effect on the price of oil by releasing some of our strategic petroleum reserves, which is 714 billion barrels.  US uses about 6.66 billion barrels a day, so that’s about 100 days of reserves.  If he releases oil, the price will go down - it puts a little foam in the market.  Usually the threat of releasing oil from the reserves will cause prices to go down by OPEC not actually decreasing production.  But it is temporary.

 

Long-term, the president can make policy through legislation, to perhaps raise the gas tax, and cause folks to use less oil, which lowers the actual price of the oil, but the higher taxes will cause you to not see a lower price at the pump.  Long-term less use will lower prices.  Taxes never go down.  The president could also create a policy to encourage electric cars, which use no or less oil, which is probably where we are headed, which will also lower demand and the price of oil.

 

Just curious if you believe Newsom's raising of the gas tax (along with Jerry Browns) caused folks here in Cali to use less gasoline ? I kind of liked Trump's "short term effects" low gas prices,about four years if remember correctly.

Edited by john510
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20 minutes ago, john510 said:

Just curious if you believe Newsom's raising of the gas tax (along with Jerry Browns) caused folks here in Cali to use less gasoline ? I kind of liked Trump's "short term effects" low gas prices,about four years if remember correctly.

I’d guess that higher prices would cause folks who don’t have excess money to drive less.  So less driving away from the coast, prolly not much change on the coast for the richies.

 

What I find curious is, yes, gas prices in CA are f’n high, partly due to state taxes and because CA has a special gas blend which limits our production, but I think it is also caused by higher incomes in CA.  Gas prices in southern states (and prolly ND SD, etc.) are at least a dollar cheaper than in CA.  It can’t be that much cheaper to produce and transport (we have some production here in CA).  I blame higher wages, including higher minimum wage that allows CA folks to pay more.

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1 hour ago, thisismatt said:

Gas prices in CA are about $1/gal more than in MO, with CA having almost 50¢/gal higher state gas taxes.  I imagine the other 50¢/gal is easily due to operating costs (land, power, etc).

Gas is $2.81 in Alabama today.  I’m lucky to get it for $4.25 at the cheap place.  Thats $1.44 more in CA.  Yes, could be operating costs.

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6 hours ago, Ooph! said:

  and they pumped it for you.

Because there is a state law that prohibits consumers from pumping their own gas.

 

Diesel fuel customers can pump their own.

 

Apparently allowing the average Joe to pump his own gasoline is too dangerous, so stations have to pay some kid to do it.

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2 hours ago, datzenmike said:

We pump all our gas. It was $1.50 / liter that's over $6.80 a Canadian gallon $5.68 for a US sized gallon and @ $0.80 exchange rate $4.52 in US moneys.

 

And that's why English cars used to quote such good MPG numbers.  Imperial vs wine gallons.  Bet you didn't know the Americn gallon is a wine gallon.

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     If you want to see something really irritating,read about all the fees

when you first register a car in California.

       In Virginia,our gas taxes are about the lowest in the US.I paid $2.849

last time I filled up.

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2 hours ago, MikeRL411 said:

 

And that's why English cars used to quote such good MPG numbers.  Imperial vs wine gallons.  Bet you didn't know the Americn gallon is a wine gallon.

 

 I always thought America picked out goofy numbers for everything to just be dicks that are different from the British system. Surely this is why you haven't switched to metric well you and Myanmar ( formerly British ruled)  and Liberia (a former sort of American colony).... just to be (fuck you) different. I understand this. 

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Nope. Closer to American than British. I like the dollar based on 100. British sucks.

 

2 farthings = 1 halfpenny
2 halfpence = 1 penny (1d)
3 pence = 1 thruppence (3d)
6 pence = 1 sixpence (a 'tanner') (6d)
12 pence = 1 shilling (a bob) (1s)
2 shillings = 1 florin ( a 'two bob bit') (2s)
2 shillings and 6 pence = 1 half crown (2s 6d)
5 shillings = 1 Crown (5s)

20 shillings= 1 pound

240 pennies= 1 pound.

 

I remember my parents and my grandmother saying thruppence, tanner and bob. Also ha'penny, slang for halfpenny. Farthings 1/4 penny) were mentioned but were  pretty much out of circulation. WTH can you buy for a 1/4 cent?

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9 minutes ago, datzenmike said:

Nope. Closer to American than British. I like the dollar based on 100. British sucks.

 

2 farthings = 1 halfpenny
2 halfpence = 1 penny (1d)
3 pence = 1 thruppence (3d)
6 pence = 1 sixpence (a 'tanner') (6d)
12 pence = 1 shilling (a bob) (1s)
2 shillings = 1 florin ( a 'two bob bit') (2s)
2 shillings and 6 pence = 1 half crown (2s 6d)
5 shillings = 1 Crown (5s)

20 shillings= 1 pound

240 pennies= 1 pound.

 

I remember my parents and my grandmother saying thruppence, tanner and bob. Also ha'penny, slang for halfpenny. Farthings 1/4 penny) were mentioned but were  pretty much out of circulation. WTH can you buy for a 1/4 cent?

 

My brother had a really useless British coin,  A Queen Victoria silver ha'penny.  The only excuse I can see is a silver coin to put in a mini purse as a baptism gift.

 

I have an old Japanese 50 sen coin.  A long time ago the breakdown was Yen, Sen, Fen and Ten.  10 of each equaled to next higher value.  This a holdover from the initial valuation of the Japanese coins based on one Yen equals one Dollar by weight of a sample of Japanese coins provided by the first Japanese ambasador to the USA and weighed by the US Mint..

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17 minutes ago, datzenmike said:

Nope. Closer to American than British. I like the dollar based on 100. British sucks.

 

2 farthings = 1 halfpenny
2 halfpence = 1 penny (1d)
3 pence = 1 thruppence (3d)
6 pence = 1 sixpence (a 'tanner') (6d)
12 pence = 1 shilling (a bob) (1s)
2 shillings = 1 florin ( a 'two bob bit') (2s)
2 shillings and 6 pence = 1 half crown (2s 6d)
5 shillings = 1 Crown (5s)

20 shillings= 1 pound

240 pennies= 1 pound.

 

I remember my parents and my grandmother saying thruppence, tanner and bob. Also ha'penny, slang for halfpenny. Farthings 1/4 penny) were mentioned but were  pretty much out of circulation. WTH can you buy for a 1/4 cent?

 

You forgot the Guiney [spelling ?], still used in British auction houses.  21 shillings as I recall.

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On 10/4/2021 at 7:36 PM, thisismatt said:

Gas prices in CA are about $1/gal more than in MO, with CA having almost 50¢/gal higher state gas taxes.  I imagine the other 50¢/gal is easily due to operating costs (land, power, etc).

 

I just went to Tucson this past weekend. Filled up here at $3.89 at Costco and thought it was ok. Crossed into Yuma, Arizona and gas was $3.03!!

Then I filled up again in Tucson at only $2.95! 

 

Last time I checked, their gas is refined here in California!! WTF!  

 

We are getting fucked hard, but, I blame all the idiots that voted for them to raise our gas taxes! They lied about it to our faces and some where still stupid enough to vote it in! And the best part, it is not a one time raise, it will keep rising over the years, automatically! 

 

Fucking Stupid Lemming Dimwit Voters!! 

Edited by Jesse C.
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On 10/4/2021 at 4:53 PM, Jesse C. said:

 

Or he stopped drilling permits, halted fracking and shut down Keystone. Yeah, Covid 

Okay, explain how that has anything to do with the price of gas at the pump today.

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