Forget where the link comes from . Anything just slightly political can go off the rails .
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Well, it wasn’t because of me. Perhaps somebody else flagged you, but I did not.
I didn’t do any flagging either. I think it was a Breitbart link.
It wasn’t me either.
Not me.
Freedom of speech.
Costco’s price today for regular is $4.26/gallon.
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Good news. Somebody must be doing something right.
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A comprehensive analysis of oil & gas price fluctuations:
Why do you insist on ignoring the biggest supply reduction, that of Russian oil? US oil production is going nowhere but up, it’s higher now in the Permian Basin (the largest production area) than at any time in history. But that doesn’t fit your story I guess.
“For every complicated problem there is a simple and obvious answer. That answer is almost always wrong”.
Here we go again , Carolyn .
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And supply went down with the crash following the Saudi/Russia oil production war, quickly followed by the Covid crash. Oil prices went through the floor. Banks realized they had lost billions on energy loans and became VERY reluctant to make any more. Companies realized they were drilling wells with no chance of making back their costs. So wells weren’t drilled, and there was no way to quickly turn that around when prices went back up. Wells are being drilled, rates are going up, but several million barrels a day have been taken off the world oil market, which determines the prices we pay. Did policy have some influence? Yes, but it’s small compared to these huge production events that have turned the oil market upside down over the last 3 years.
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Which of those do you guess caused the recent price decline?
Who knows but drawing down our strategic oil reserves at 100 million day, incidentally only for national, as in us, emergencies probably has some effect until gone. Same volume that the pipeline would provide. There likely is also a slump in demand due to the high prices. Keep in mind that a 30-40 cent price decline is merely brushing crumbs off the table for the peasants.
4.19 at my Costco today.
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$4.26 local, $4.89 milwaukee. 30 miles away.
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When fuel prices hit an all time high we had the grifters convoy tooling around in semi trucks wasting diesel and clogging the roads with even more traffic. That helped!
They finally arrested the head grifter for his unlawful behavior dlso maybe they will get the hint!
Could we get Dr. Van Helsingborg to put a stake through this thread?
Micro&Macro economics affect every purchase we make. Thread could apply to coffee or underwear.
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Late 70’s Early 80’s had a similar sort of high inflation. Got to adjust plans to the circumstances is all, buy low, sell high. High inflation means real estate and stock market take a hit, at best modest gains. But corporate bonds, treasury bonds can bring very high yields. One of my relatives purchased a 30 year treasury bond at 12 % in those days, helped very much supplementing his retirement pension income for 30 years of interest income, “it’s living in high clover” he said.
Corporations have to up the ante on their employee pay as well. In those days my company would hand out an “inflation raise” to everyone every 6 months, independent from the yearly performance raise. Inflation brings some challenges, but if you play your cards right, it’s definitively not all downside.
Car-related, buying used cars in those days often meant the buyer would get their loan from the seller, rather than from a bank. IIRC it was called a “contract sale”.
That wasn’t my experience. I had a whole raft of bonds. Worse thing I ever did. Like today real estate prices were soaring. Not 9% interest yet but not 3% anymore. I never got any inflation increases because we had to trim the budgets every year to survive. But sure be happy.
If you buy an I-Bond from US Treasury Direct, it will pay over 9% interest for the following six months. After that, it is pretty sure to go even higher.
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