Thanks Joe, Oil Trades at $125 Tonight

Who was President and Vice President 7 years ago????

 

Of Exxon?

 

Look at who is getting rich in Ukraine from the gas/oil deals there... which companies exactly which are developing or were developing Ukraine. This entire war from the NATO side is for material wealth of the elites and to undermine Russia to eventually coup that country as well. Ukraine is just a stepping stone to Internationalist control over the globe.

 

Welcome to capitalism and corporations. Your hatred of big oil is misplaced. This happens all over in different industries and leads to a few getting richer, centralization of power and the people getting left behind.

The mistake democrat lemmings make is forgetting that democrat elites care as little about you as the Republican elites. They both have their donors. For the democrats that happens to be super rich people in social media and green energy, and vehicles. Being able to replace all your cars in the name of emissions, is very attractive to their pocket book. Its also why Nuclear power is ignored over solar.

 

And Ocean drilling being approved by government? Also, what is being drilled is irrelevent. What can be drilled at a decent expense is what's relevant.

 

"Your hatred of big oil is misplaced."

Your hatred of consumers of gas is noted (like it when I put words in your mouth? no? Then don't put words in my mouth), I prefer cheaper gas, don't hate oil companies, just know they will charge as much as they can

 

part of the increase is based on the speculation that it will increase

"Traders ramp up bullish bets in U.S. oil options as prices soar"

https://www.reuters.com/business/en...h-bets-us-oil-options-prices-soar-2022-03-04/

 

To be fair, predictions of peak oil didn't factor in the shale revolution. I remember 2010 being touted as the year we'd run out at one point.

Transportation will of course pivot to electric as the price of electric cars declines, that doesn't help those who can't afford a $70,000 new car.

Freight transportation is a much more difficult issue, Tesla have floated an electric semi but the economics of it are well off for the foreseeable future.

Like it or not oil is still part of the purchase price of every product you own and buy.

 

Exactly, 1st oil crisis, record high oil prices in 2007/08.... What did people do? Keep buying more and more gas guzzlers.

Now, of course they could say that it may have been a bad decision to buy that 3/4 ton SUV to haul one person back and forth to work, when gas prices were low, knowing full well that ANY spike in demand or international crisis would send oil prices soaring. But, then, crying "Biden bad" is much easier and shifts the blame to someone else, rather than their own bad decisions. As if it is the job of the government to guarantee their low gas prices. What happened to personal responsibility.

Now, the funny thing is that demand and prices for pickup trucks is still through the roof. Will people ever learn?

 

Of course they do, so they can sell it to other countries for a profit that benefits their shareholders, not the American people whose land the oil came from. Our oil should stay here, every drop. We should not export oil or gas, ever. These are irreplaceable resources that are directly tied to national defense and economic security. Let the other countries sell their vital irreplaceable energy. We should be keeping ours. That's why I don't get worked up over Biden's drilling permit halting. Some of that oil wasn't going to stay here in the first place. I'd prefer it stay in the ground than leave our shores.

 

There is always the concept of using electricity which is generated by a limited resource. It is as though people think the energy increases by the transformation from heat to electrical current. It is politics and politics is not a solution to anything at all.

 

Yep, both sides have their crazies. There are a lot of people who are not concerned that fossil fuels is a NON-RENEWABLE resources. Now, if you think about the big picture, how crazy is it to base a large percentage of the US economy on a resource that is NON-RENEWABLE?

The problem is that we 1) can't see the depletion of the oil reserves (they are hidden in the ground), so we don't have a visual clue about how much they are depleted already and 2) the depletion is a slow process. In germany there is a saying "Was ich nicht weiss, macht mich nicht heiss", or, translated: What I don't see, I don't worry about.

In reality, humanity should use this occasion to do the smart thing, i.e. accelerate the transition away from fossils. In real life, the more likely scenario will be that this crisis blows over, oil prices go down again for a while, and people will continue their habit of the gas guzzler driving, high energy consumption lifestyle. We've been through it before, so it is predictable what will happen again.

 

Nothing new there. So since it is non renewable we shouldn't use it? If we stopped using it, we wouldn't have enough electricity to charge the car batteries. We could go back to renewable wood stoves and horse drawn carriages. Quaint, don't you think?

 

In an emotional way… I slightly agree with you. In a an economical way I disagree with you. I have many complaints about the stock market and public companies. Share holders being the largest of the problems. However without this problem investment would slow and you would likely see a lot more poor people than there is now. Retirement would be unheard of without this as well.

But you’re right in a way because many large companies care more about their share holders than the actual employees. I work for a company that I feel is that way. Haven’t had a raise in over a decade.

 

Well, since fossil fuels are not replaceable, according to the anti-renewables crowd, then we will be FORCED to go back to burn wood and horse and carriage, once fossil fuels run out. Now, we could accept this as the fate of humanity, or we could do something about it. Which one is it going to be? if we are an intelligent species, I know the answer. However, in large groups, humanity is really not any more intelligent than a bunch of bacteria growing in a Petri dish, until nutrients run out, and they'll all starve.

 

So what are you doing about it? Complaining? None of the alternatives are working out very well. Would it make sense to use the oil until the alternatives are developed adequately? How does hamstringing the economy fix the problem? Bacteria, as you know, have no intelligence at all.

 

By keep using the oil at the same level, you're risking running out of the stuff before a solution acceptable to you comes around. The right is pretty much against any investment in the development of alternative to oil while at the same time giving $$$ to big oil company when they're in power.

 

Higher fuel cost is little enough to ask to stand with Ukraine.

 

Oi and gas companies are profiteering off the present world crisis.

 

No, the right is against government messing with it. I've never heard anyone say that we shouldn't develop alternative energy sources. Leave it alone. It will happen when it needs to happen.

 

Why should it happen if the oil company are presently making a killing at the pump? They don't want competition.
That idea that the market will self regulate to the benefit of the masses has never been true. You're just exchanging the elected government by an unelect oligarchial system just like Russia has!

 

People keep parroting that since its the talking point, but it is NOT the solution since US oil is poorly suited for gasoline production. US refineries process mostly heavy oils into gasoline, like the Canadian and Saudi Arabian type, but the light US oil is simply not well suited for that purpose. That is the reason why we keep importing oil from Canada and elsewhere, and also exporting US oil to other countries. If US oil was good for making gas, we could simply stop exporting it and use it to produce gas, but it doesn't work that way. Its not the lack of leases either since plenty have been and are issued.

 

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Oh **** Ukraine. They've been killing their own people for the last 8 years and no one gave a ****. Now the peanut gallery parrots the rah rah rah at the expense of the elderly (fixed income hit the hardest) people in the US and everyone else with this Biden created faux outrage inflation. 9 of 10 either didn't know what Ukraine was or thought is was part of the Soviet Union.

 

Reduction of consumption has always been the answer.