brandon8283
Probably a drive-by
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640k of RAM, and all that.
Inflation here? gas/grocery prices just continue to climb (3 Viewers)
- Thread starterefil4stnias
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Not unless domestic oil is allowed to start producing again like they were before January of last year. With the Russia offensive, that's the only way prices are going to start dropping again.
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Nobody stopped any producing except for due to prices that fell through the floor during the pandemic.
Where does this narrative come from that we stopped producing oil due to some government edict?
The cost of fertilizers are 3x what they were pre pandemic.
The supply chain for pesticides is a complete mess. Bayer is having a huge difficulty producing RoundUp. And many generics stopped producing all together due to lawsuits.
Yields will go down and that will further escalate price increases.
The supply chain for pesticides is a complete mess. Bayer is having a huge difficulty producing RoundUp. And many generics stopped producing all together due to lawsuits.
Yields will go down and that will further escalate price increases.
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I didn't say it was a government edict. It was a result of the Covid complete shutdown of the economy. Demand disappeared and domestic oil stopped producing because they literally couldn't give away the oil they were producing. When the world started to open up last January, domestic companies were undermanned to begin producing again so the US had to rely on OPEC. Underemployment is still a problem, but companies are trying to get back to normal.
The only government edicts that have hampered bringing back production are the temporary suspension on new oil and gas leases on federal lands (but a judge blocked that last month, so companies should be able to pick up that slack again quickly), and the blocked petroleum sales in the Arctic National Wildlife Refuge.
Finishing and opening the Keystone XL pipeline would help, but with all the complications of US and Canadian companies that had to stop work on that, lay off the workers, and get rid of the equipment, I'm not even sure that can be done at this point.
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We’re producing more oil than we were in January of last year and it has been rising every month since.
There hasn’t been a single regulation or policy which has effected current oil production, and we are on pace to hit record production in 2023. All policies that went into effect in January of 2021 won’t affect production for like 5-10 years.
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San Francisco gas prices are a nudge from $6.00 a gallon for Regular. You'd think they might offer to suspend the taxes to ease the pain on the consumers? Ouch.
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Crude oil production isn't the only issue effecting pump prices. Since the pandemic and the drop in demand and losses in revenue most refiners deferred refinery turnaround as a cost savings initiative. Most of these deferments are now over due and likely we could see significate reductions in refinery output as units are taken offline or work at reduced capacity until this work is done. Since these turnaround initiatives are not published or widely communicated we likely won't know they are happening. Below is an article from 2021 about it. However, from what I've heard many refiners had work scheduled for 3Q to 4Q 2021 but the Omikron variant pushed most of that into this year. And since turnaround is a very specialized work and only a few companies do it then its going to take most of 2022 for it to get it all done.
Lack of overhauls at U.S. refiners could stall industry recovery
U.S. oil refiners are predicting a strong recovery in fuel demand in the second half of this year as vaccination rates increase and workers are expected to resume commuting and taking vacations.
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yep.
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San Francisco gas prices are a nudge from $6.00 a gallon for Regular. You'd think they might offer to suspend the taxes to ease the pain on the consumers? Ouch.
Maybe we should learn from these fake market gyrations and instead of worrying about tax suspensions we should get the hell off our dependence on oil sooner rather than later.
Just saying.
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I agree with part of what you said, but your first post was phrased in a way that would lead any reasonable person to believe you were asserting it was because we were forced to stop producing due to government intervention. "Allowed to start producing again" is what you said.
Not unless domestic oil is allowed to start producing again like they were before January of last year.
New leases take years to matter.
Keyston XL wasn't going to relieve pressure on prices and wasn't complete anyway. Moreover it's government taking of private property for business profits and opposed so much that it had no business ever being approved.
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Internationally the treaty to cut production that help drive up oil prices that went into effect in 4/2020 is set to expire next month. No OPEC+ country is breaking that agreement, instead waiting until it expires as they are happily cashing these checks.
As far as US production, I can see here in California driving around that rigs are back in steadily increasing numbers, but as my neighbor says, production can only ramp up so quick. The two key players are Mexico and Saudi Arabia which can increase production quickly but at this point are not.
Also, like everything refinery maintenance and production have taken hits with Covid and extreme weather. Cold in Texas, heat in the west, hurricanes and rain in the south.
As far as US production, I can see here in California driving around that rigs are back in steadily increasing numbers, but as my neighbor says, production can only ramp up so quick. The two key players are Mexico and Saudi Arabia which can increase production quickly but at this point are not.
Also, like everything refinery maintenance and production have taken hits with Covid and extreme weather. Cold in Texas, heat in the west, hurricanes and rain in the south.
KCWhoDat
Formerly known as Saints4ever
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Gas is 4.69 here in New York, Diesel is well over 5.00…it’s unsustainable.San Francisco gas prices are a nudge from $6.00 a gallon for Regular. You'd think they might offer to suspend the taxes to ease the pain on the consumers? Ouch.
CapitalCitySaint
99% Practice; 1% Theory
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I am in San Diego & last week paid $5 and some change (can’t remember the exact number). I have to use premium. Cost me $91 to fill up my Acura.San Francisco gas prices are a nudge from $6.00 a gallon for Regular. You'd think they might offer to suspend the taxes to ease the pain on the consumers? Ouch.
ETA: the only saving grace I have right now is that I do not have to commute so don’t drive very much.
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imagine a Tahoe or Suburban- 24-26 gal tanks. that's $120-140 - good grief.I am in San Diego & last week paid $5 and some change (can’t remember the exact number). I have to use premium. Cost me $91 to fill up my Acura.
ETA: the only saving grace I have right now is that I do not have to commute so don’t drive very much.
wonder if this remains for an extended period, if we see an influx of large SUVS in the used car market soon.
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