How long before gas goes to 4-5 a gallon?

Today Friday October 15th 2021, i paid $3.19 99 for regular (ethanol free) gas. Last Friday i was paying $3.09 99. So up it is going

Welcome to the biden inflation world.

d taylor said:

Today Friday October 15th 2021, i paid $3.19 99 for regular (ethanol free) gas. Last Friday i was paying $3.09 99. So up it is going

Welcome to the biden inflation world.

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President Biden is not responsible for the price of gas, the oil companies are. There is a world market for petroleum products that responds to the demand and supply of the product, and the oil companies respond accordingly; that's what drives markets.

If President Biden had total control over the US petroleum market it would be called Communism. As it is, I'm sure he would prefer to pay half the price-per-gallon, the same as the rest of us. It's generally the Republicans that favor the oil companies making huge profits, since they are their donors.

pescador said:

President Biden is not responsible for the price of gas, the oil companies are. There is a world market for petroleum products that responds to the demand and supply of the product, and the oil companies respond accordingly; that's what drives markets.

If President Biden had total control over the US petroleum market it would be called Communism. As it is, I'm sure he would prefer to pay half the price-per-gallon, the same as the rest of us. It's generally the Republicans that favor the oil companies making huge profits, since they are their donors.

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This really is one of the dumber critiques of Biden. It's as if nobody cares at all about how oil markets work.

I kinda figured that when the price of gas was way low last year, it would go way up this year to make up for it. Plus it's a new decade. Welcome to the 20s with $4-5 gas, $8-10 fast food meals and $15-17 minimum wage.

d taylor said:

Today Friday October 15th 2021, i paid $3.19 99 for regular (ethanol free) gas. Last Friday i was paying $3.09 99. So up it is going

Welcome to the biden inflation world.

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Don't worry, the market under President Biden will more than offset the inflation - that is, if you invest your money.

My portfolio is looking stronger than ever - welcome to President Biden's strong economy!

Dow closes above 35,000, stocks book second straight week of gains after retail sales beat expectations (msn.com)

d taylor said:

Today Friday October 15th 2021, i paid $3.19 99 for regular (ethanol free) gas. Last Friday i was paying $3.09 99. So up it is going

Welcome to the biden inflation world.

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It's been staying at $2.99 in my area for months, so my anecdote cancels your anecdote.

RDKirk said:

It's been staying at $2.99 in my area for months, so my anecdote cancels your anecdote.

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Hi @RDKirk

Well, in my little burg the price just climbed over the $3 mark Thursday at most stations. But, as someone pointed out earlier, the markets are making money gangbuster. They have been pretty much since 2009. It's going to be heartbreaking when it begins another 'correction' phase, but for the last 12 years it's been the only place you can park your money and get any kind of reasonable return. Banks have been paying less than 1%, seems like forever now.

God bless,
Ted

miamited said:

Hi @RDKirk

Well, in my little burg the price just climbed over the $3 mark Thursday at most stations. But, as someone pointed out earlier, the markets are making money gangbuster. They have been pretty much since 2009. It's going to be heartbreaking when it begins another 'correction' phase, but for the last 12 years it's been the only place you can park your money and get any kind of reasonable return. Banks have been paying less than 1%, seems like forever now.

God bless,
Ted

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I think that things should start to come down. Biden is allowing oil and gas production to increase again. Asking OPEC to increase production.

There is a glass ceiling on the price of oil. At which the economy fails to operate. The cost of farming, transportation, heating and shipping all funnel down to the cost of living and goods and services.

At some point.. it is just not sustainable and the economy would die.

We do not have existing alternatives in place that can maintain the demand for energy from fossil fuels.

The price of oil will always go to the highest mark that the economy can withstand.

Pavel Mosko said:

Yeah it is worrisome and very regressive on the working class. I remember how some of my coworkers were cussing W Bush in 2006-7 or whenever that was.

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I guess it depends on where you live. In Dallas we’re at $2.89 per gallon so I’d say it would be well over a year before we see them get that high.

hislegacy said:

When we were energy independent During the last administration we did not have to ask OPEC for anything.

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wrong!


Trump calls for OPEC to boost oil production, says price too high

hislegacy said:

When we were energy independent During the last administration we did not have to ask OPEC for anything.

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Trump calls for OPEC to boost oil production, says price too high | Reuters

Why do you constantly state falsehoods?

hislegacy said:

I am beginning to wonder if you even bother to read your own links.

Very important that OPEC increase the flow of Oil. World Markets are fragile, price of Oil getting too high. Thank you!” Trump wrote in a post on Twitter.

Immediately following Trump’s tweet, U.S. crude oil futures fell by more than $1 to $58.33 a barrel and Brent futures were down by more than $1 to a session low of $66.76 per barrel.
​

Are you comprehending the article? Or is that just the first one that came up on your google search and you thought you had an ah hah moment.

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It's hilarious - sad, also, but hilarious - that you double down on being wrong. Yes, the article is easy to read and understand. The article contradicts your claim that the Trump administration never had to ask OPEC for anything.

Here are some other articles that prove your false statement to be false:

• Trump Asks OPEC to ‘Increase the Flow of Oil’ - WSJ
• Trump asks Opec to "increase the flow" of oil in latest tweet against the group (thenationalnews.com)
• Trump Asks OPEC to Pump More Oil Because Prices Are Too High (yahoo.com)
• Trump Says He Used to Hate OPEC. Now He’s Had a Change of Heart - Bing video

LOL, so what were you saying - "When we were energy independent During the last administration we did not have to ask OPEC for anything"??? LOL!!!!!!

hislegacy said:

You didn’t read any of those either did you.

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the point is post #290 stated

"During the last administration we did not have to ask OPEC for anything"

why can't you admit that you were wrong?

hislegacy said:

LOL.
Too funny.

You didn’t read any of those either did you.

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I read them and they all contradict your false statement. Why do you double down when it's glaringly obvious to everyone that you were dead wrong?

hislegacy said:

When we were energy independent During the last administration we did not have to ask OPEC for anything.

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Hi @hislegacy

I sometimes visualize you sitting at your computer and a thought comes into your head and your process goes something like this: "Does that thought I just had support what I believe to be true? If it does, then it must be true! Let's write that as an argument."

HA-HA-HA-HA-HA-HA

As has been pointed out now by at least two other posters, the 'former guy' asked OPEC to increase oil production just as much as any other president has in the last 20 years or so, when prices start climbing. Did that thought really just come into your head and you thought that it sounded soooo true that you just had to write it down?

Unfortunately, this seems to be a phenomenon that is becoming quite prevalent among the Trumpists. Truth just doesn't matter at all. It's all about sound bites. What sounds good? He's turning a good sized part of our populace into little Trump mini me's.

God bless,
Ted