$10+ Gas

[SwampSurvivor]

I'm thankful for our leased Sentra! I'm cutting a check for that bad boy once the lease is up! I've been able to get mid 40s out of it easily. The Grand Marquis, F350 and Cherokee have been parked.

 

[edyvw]

Most people do not pay attention unless their Tv tells them to pay attention. This is to force the sale of electric vehicles. Remember your government is your friend , it is here to help you. Obey your Tv.

OMG, what nonsense.
When the crisis started with UKR war, CEOs of oil companies were pretty clear that it is time to make up the loss of profit from the pandemic years and years before that.
However, they were always profitable, so the question is: what is in their mind "lost profit?"

But, for EV's Putin and they did what no one could.

 

[Chris142]

Station not far from me is over $8

 

[Shel_B]

Local Costco ...

 

[Malo83]

Local Chevron has Premium at $ 6.95. 89 at $6.85, and 87 at $6.65.

 

[Jimmy_Russells]

Pretty much is $10 around here. To fill my tank from 1/8 tank is about 11 gallons and it costs over $110 for sure (for premium). Probably closer to $115

 

[Andrew1972]

It’s a good plan for pumps to add programming to support the next digit. Think odd locations like marina pumps or places like Martha’s Vineyard where pump prices are typically +$1 - $3/gallon over normal areas.

 

[Silver]

Queue the Alex Jones podcast.

 

[IndyIan]

I know I'm a bit tired of the wild prices swings of fossil fuels, seems like consumption would be fairly easy to predict, but stable prices of a commodity isn't all that profitable? I guess there's not much incentive for anyone in the supply chain to have extra capacity idle either. Right now its all record profits per unit of production

That is one good thing about electricity, our grid does not connect to Russia or the Middle east or even to Alberta, so someone sneezing half a world away doesn't change the price/kwh tomorrow! And if you don't like the price of electricity you can produce your own in your backyard!
If there were cheap used electric car beaters available, there's no question I would snap one up as a commuter. I won't really miss gasoline as a fuel for my working day travels for sure.

 

[javacontour]

OMG, what nonsense.
When the crisis started with UKR war, CEOs of oil companies were pretty clear that it is time to make up the loss of profit from the pandemic years and years before that.
However, they were always profitable, so the question is: what is in their mind "lost profit?"

But, for EV's Putin and they did what no one could.

2020 was NOT profitable for most oil companies.

Here is one example, XOM's report for the 4th Q 2020 which also includes the past 12 months, that as far as I can tell was over $22 billion in losses.

 

[edyvw]

If I had a $1, after pointing out that gas won't be cheap forever, for every person with a gas-guzzling V8 that said: I don't care, I will fill it up.
Same people now; can't get rid of them complaining.

 

[edyvw]

2020 was NOT profitable for most oil companies.

Here is one example, XOM's report for the 4th Q 2020 which also includes the past 12 months, that as far as I can tell was over $22 billion in losses.

OK, and? I mean how many other businesses go through losses bcs. that is how business works? And they do not have national security implications.
IMO, when audio leaked after that meeting in February where they jointly said that it is time to rack up some profit, the government was supposed to launch an investigation into price-fixing.

 

[eljefino]

national security implications.

Is the DoD wanting for oil?

I think the oil companies expect this Russian invasion-not-invasion to end fairly soon, and aren't gearing up for more production when they'll just be gearing back down and losing money in the process.

 

[Pew]

$5.15 at my local BP from $4.79 this morning.

OK, and? I mean how many other businesses go through losses bcs. that is how business works? And they do not have national security implications.
IMO, when audio leaked after that meeting in February where they jointly said that it is time to rack up some profit, the government was supposed to launch an investigation into price-fixing.

So much for POTUS stating "there will be dear consequences for the oil companies if they price gouge gas."

 

[edyvw]

$5.15 at my local BP from $4.79 this morning.



So much for POTUS stating "there will be dear consequences for the oil companies if they price gouge gas."

Agree. And this is nothing new, we could go back decades where things were put under the carpet. I always stay stunned reading again, and again about the Three Mile Island saga.

 

[edyvw]

Is the DoD wanting for oil?

I think the oil companies expect this Russian invasion-not-invasion to end fairly soon, and aren't gearing up for more production when they'll just be gearing back down and losing money in the process.

Hmmm, national security is much more than DoD.

That is a fool's errand to expect. They could expect that first few weeks, but not now. Especially considering that even if Russia hypothetically pulls out of UKR, geopolitical implications are going to be felt for decades.
Keeping prices up are going to affect demand in mid and long run bcs. economic effect.

 

[javacontour]

OK, and? I mean how many other businesses go through losses bcs. that is how business works? And they do not have national security implications.
IMO, when audio leaked after that meeting in February where they jointly said that it is time to rack up some profit, the government was supposed to launch an investigation into price-fixing.

Well, you said they were

always profitable

and I provided a falsification of that claim.

That's what.

I'm not saying their losses should mean any more to us, simply demonstrating that your assertion that they are always profitable is not a truism.

 

[edyvw]

Well, you said they were
and I provided a falsification of that claim.

That's what.

I'm not saying their losses should mean any more to us, simply demonstrating that your assertion that they are always profitable is not a truism.

OK, my mistake.
They will write it off through taxes.

 

[Skippy722]

If I had a $1, after pointing out that gas won't be cheap forever, for every person with a gas-guzzling V8 that said: I don't care, I will fill it up.
Same people now; can't get rid of them complaining.

“Oh no gas prices are so high and I drive a big ol’ truck! Ppfffff I don’t give a ****, I made the bad decision I’m gonna live the the consequences”

 

[Dave Hess]

Also, in situations like this, we rely on Saudi Arabia to increase supply by 2-3 million barrels. However, we were "too mean" to them because they chopped off a journalist, and they do not want. Time to seriously reassess that relationship.

We do NOT need any oil from Saudi when we have oil in the USA and from Canada.

We need to STOP draining from our strategic oil reserves and STOP sending it to Europe.

Hopefully gas goes to $8 a gallon and diesel $10 a gallon so people vote differently.