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JSul3 · 70-79
Oil traded today at $73 per barrel. The futures market shows approx. $68 per barrel.
No president has control over oil. It is a commodity that is traded worldwide.
For Big Oil to make a profit, oil needs to be around $90 per barrel so don't expect a mass of drilling activity.
As we enter the winter months, demand drops.
Biden didn't cause it, just like Trump didn't but Trump did encourage the Saudis to cut production and that did impact prices. Not long ago Big Oil experienced its highest production on record.....so they are doing just fine.
No president has control over oil. It is a commodity that is traded worldwide.
For Big Oil to make a profit, oil needs to be around $90 per barrel so don't expect a mass of drilling activity.
As we enter the winter months, demand drops.
Biden didn't cause it, just like Trump didn't but Trump did encourage the Saudis to cut production and that did impact prices. Not long ago Big Oil experienced its highest production on record.....so they are doing just fine.
JSul3 · 70-79
@Tastyfrzz Reuters:
WASHINGTON/LONDON/DUBAI (Reuters) - As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.
In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.
The threat to upend a 75-year strategic alliance, which has not been previously reported, was central to the U.S. pressure campaign that led to a landmark global deal to slash oil supply as demand collapsed in the coronavirus pandemic - scoring a diplomatic victory for the White House.
Trump delivered the message to the crown prince 10 days before the announcement of production cuts. The kingdom’s de facto leader was so taken aback by the threat that he ordered his aides out of the room so he could continue the discussion in private, according to a U.S. source who was briefed on the discussion by senior administration officials.
WASHINGTON/LONDON/DUBAI (Reuters) - As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum.
In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters.
The threat to upend a 75-year strategic alliance, which has not been previously reported, was central to the U.S. pressure campaign that led to a landmark global deal to slash oil supply as demand collapsed in the coronavirus pandemic - scoring a diplomatic victory for the White House.
Trump delivered the message to the crown prince 10 days before the announcement of production cuts. The kingdom’s de facto leader was so taken aback by the threat that he ordered his aides out of the room so he could continue the discussion in private, according to a U.S. source who was briefed on the discussion by senior administration officials.
zonavar68 · 51-55, M
We pay more than $2 a litre normally for fuel here. Just last week the petrol and diesel prices went under $2 for the first time in about 2 years.
Retail fuels are double taxed by the federal government - a fixed excise plus GST.
During the Covid lockdown 1.0 the prices dipped briefly under $1 a litre for about 3 weeks when there was a glut of supply. Earlier this year the prices were over $2.50 a litre and in some places closer to $3 a litre.
Retail fuels are double taxed by the federal government - a fixed excise plus GST.
During the Covid lockdown 1.0 the prices dipped briefly under $1 a litre for about 3 weeks when there was a glut of supply. Earlier this year the prices were over $2.50 a litre and in some places closer to $3 a litre.
MrBrownstone · 46-50, M
How did he do that?
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2ndtimeguy · 61-69, M
What about insurance going up cars, homes, medical those took big jumps not to mention housing and food. Sort of like hey mom I got an A in spelling but D and F in the others.
JSul3 · 70-79
@2ndtimeguy Auto insurance keeps going up and have not had any tickets or accidents for decades.
It's a pain, but past time to seek other insurer options.
In TX, the govt approved rate increases several times, so naturally, the insurance companies took the hike and passed to clients.
It's a pain, but past time to seek other insurer options.
In TX, the govt approved rate increases several times, so naturally, the insurance companies took the hike and passed to clients.
Tastyfrzz · 61-69, M
@2ndtimeguy just takebout liability for house and self insure.
AthrillatheHunt · 51-55, M
No way? Where’s this ?
JSul3 · 70-79
@ElwoodBlues Texas generates more electricity from wind and sun than any other state and has since 2006. It ain’t even close. In 2021 Texas’s output was more than double that of the runner-up, a sizable state that hugs the Pacific Ocean and likes to boast about how green it is.
ElwoodBlues · M
@JSul3 Texas may lead in MWh, but not as a percentage of electricity consumption. As you can see, CA leads TX by that measure.
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JSul3 · 70-79
@ElwoodBlues No doubt. Gov Abbott has continues to tout fossil fuels over green energy.
TheOneyouwerewarnedabout · 41-45, MVIP
Only a loser would spruce another loser who went from energy independent and largest exporter.. to begging countries that hate you for over priced energy…
Vin53 · M
@TheOneyouwerewarnedabout A real winner would espouse a fellow friend in a winning effort, and then win by doing it.
BeepBeep · F
Lol nice