(06-29-2021, 09:13 AM)Hightop77 Wrote:

(06-29-2021, 09:06 AM)Alabuckeye Wrote: I think it's bigger than the simplistic "Thanks Biden you idiot".  If you don't, that's fine.

I'm comfortable that I have an explanation that factors in things that drive prices.

I think there is a difference between an administration that actively works to lower energy prices and an administration that doesn't care how high they go.  If you don't, that's fine.

so, what actions by the Biden Administration, outside of the Public Lands drilling EO, have caused the prices to rise to 7 years high? 

I'm open to changing my mind on this.  I'm just talking from a rudimentary understanding of economics, an understanding of what is going on with global demand, etc.

(06-29-2021, 09:17 AM)Alabuckeye Wrote:

(06-29-2021, 09:13 AM)Hightop77 Wrote:

(06-29-2021, 09:06 AM)Alabuckeye Wrote: I think it's bigger than the simplistic "Thanks Biden you idiot".  If you don't, that's fine.

I'm comfortable that I have an explanation that factors in things that drive prices.

I think there is a difference between an administration that actively works to lower energy prices and an administration that doesn't care how high they go.  If you don't, that's fine.

so, what actions by the Biden Administration, outside of the Public Lands drilling EO, have caused the prices to rise to 7 years high? 

I'm open to changing my mind on this.  I'm just talking from a rudimentary understanding of economics, an understanding of what is going on with global demand, etc.

If an administration sends the message that it is not going to be friendly to efforts to increase supply, the exact opposite of Trump's policies, do you think it stimulates efforts to increase supply or suppresses them?  What was the effect of Jimmy Carter's excess profits tax on oil companies?

you are comparing positioning/posturing(Biden) with direct action(Carter)....

Of course companies are going to adjust to governmental action and even words. l just don't think that's the main driving factor over the last 5 months, especially given everything else going on.

(06-29-2021, 09:06 AM)Alabuckeye Wrote: I think it's bigger than the simplistic "Thanks Biden you idiot".  If you don't, that's fine.

I'm comfortable that I have an explanation that factors in things that drive prices.

"Thank you, Biden" is a nice summation.  Oil companies see the US gov't pulling back the reigns on drilling so OPEC decides to tighten supply to increase prices.  Oil companies decide to slow down new projects to get more cash for stockholders.  Dementia man just bombed Syria and Iraq causing a baby scare to up crude prices.  There is a shite load of factors and Biden wants oil prices to rise because that theoretically lowers use and pleases the Climistas.

You have a "comfortable" explanation for every left-wing shite show.  Oil demand at this time in 2019 was higher than it is currently.  That does not marry up with your "comfortable" explanation Mr. Supply & Demand.  You and georgie seek out explanations that fit your predetermined narratives.  That is a problem with leftists/wokists.

https://www.eia.gov/outlooks/steo/report/global_oil.php

OK.  Where you seem to be going with this, is it doesn't matter who we elect, it's all the same.  I don't agree.  Prices for commodities are driven by various factors including speculation.  If the oil companies see future restrictions on their ability to obtain their raw supply of product or government driven reduction in demand, it is going to push their prices up.  Now if you actually believe there is no difference between Trump and Biden and their policy's effect on oil prices, that's fine, but to me that makes no sense from an economic perspective.

(06-29-2021, 09:33 AM)dumbname Wrote:

(06-29-2021, 09:06 AM)Alabuckeye Wrote: I think it's bigger than the simplistic "Thanks Biden you idiot".  If you don't, that's fine.

I'm comfortable that I have an explanation that factors in things that drive prices.

"Thank you, Biden" is a nice summation.  Oil companies see the US gov't pulling back the reigns on drilling so OPEC decides to tighten supply to increase prices.  Oil companies decide to slow down new projects to get more cash for stockholders.  Dementia man just bombed Syria and Iraq causing a baby scare to up crude prices.  There is a shite load of factors and Biden wants oil prices to rise because that theoretically lowers use and pleases the Climistas.

You have a "comfortable" explanation for every left-wing shite show.  Oil demand at this time in 2019 was higher than it is currently.  That does not marry up with your "comfortable" explanation Mr. Supply & Demand.  You and georgie seek out explanations that fit your predetermined narratives.  That is a problem with leftists/wokists.

https://www.eia.gov/outlooks/steo/report/global_oil.php

The first bullet in your link makes the point that I've been making.

(06-29-2021, 09:37 AM)Hightop77 Wrote: OK.  Where you seem to be going with this, is it doesn't matter who we elect, it's all the same.  I don't agree.  Prices for commodities are driven by various factors including speculation.  If the oil companies see future restrictions on their ability to obtain their raw supply of product or government driven reduction in demand, it is going to push their prices up.  Now if you actually believe there is no difference between Trump and Biden and their policy's effect on oil prices, that's fine, but to me that makes no sense from an economic perspective.

No.....I think it does matter who we elect.  My point is that we don't know if this is a temporary price rise due to the massive changes in global economic movement or if it is a longer term trend.

Given the prices of other products, which the fed claims is a short term inflationary blip, it could also be a temporary blip.

OR, it could be a longer term rise due to Biden's negative relationship with carbon based fuel sources.   

IMO, it's the first till we have a larger sample size to read.......as it persists, and other product costs stabilize or drop, then we can attribute it to other factors such as Biden Administration positions on the subject.

Or, we can just rush to blame Biden.

(06-29-2021, 09:45 AM)Alabuckeye Wrote:

(06-29-2021, 09:37 AM)Hightop77 Wrote: OK.  Where you seem to be going with this, is it doesn't matter who we elect, it's all the same.  I don't agree.  Prices for commodities are driven by various factors including speculation.  If the oil companies see future restrictions on their ability to obtain their raw supply of product or government driven reduction in demand, it is going to push their prices up.  Now if you actually believe there is no difference between Trump and Biden and their policy's effect on oil prices, that's fine, but to me that makes no sense from an economic perspective.

No.....I think it does matter who we elect.  My point is that we don't know if this is a temporary price rise due to the massive changes in global economic movement or if it is a longer term trend.

Given the prices of other products, which the fed claims is a short term inflationary blip, it could also be a temporary blip.

OR, it could be a longer term rise due to Biden's negative relationship with carbon based fuel sources.   

IMO, it's the first till we have a larger sample size to read.......as it persists, and other product costs stabilize or drop, then we can attribute it to other factors such as Biden Administration positions on the subject.

Or, we can just rush to blame Biden.

Prices started going up right after Biden took office.  Did you actually think there was some chance they might go down after the rhetoric the Democrats are pushing about replacing oil with windmills and the like?

(06-29-2021, 09:41 AM)Alabuckeye Wrote:

(06-29-2021, 09:33 AM)dumbname Wrote:

(06-29-2021, 09:06 AM)Alabuckeye Wrote: I think it's bigger than the simplistic "Thanks Biden you idiot".  If you don't, that's fine.

I'm comfortable that I have an explanation that factors in things that drive prices.

"Thank you, Biden" is a nice summation.  Oil companies see the US gov't pulling back the reigns on drilling so OPEC decides to tighten supply to increase prices.  Oil companies decide to slow down new projects to get more cash for stockholders.  Dementia man just bombed Syria and Iraq causing a baby scare to up crude prices.  There is a shite load of factors and Biden wants oil prices to rise because that theoretically lowers use and pleases the Climistas.

You have a "comfortable" explanation for every left-wing shite show.  Oil demand at this time in 2019 was higher than it is currently.  That does not marry up with your "comfortable" explanation Mr. Supply & Demand.  You and georgie seek out explanations that fit your predetermined narratives.  That is a problem with leftists/wokists.

https://www.eia.gov/outlooks/steo/report/global_oil.php

The first bullet in your link makes the point that I've been making.

You miss that it is facilitate by Dementia Joe.  Oil prices go beyond current supply and demand is what I am trying to communicate.  When the hackers got Colonial pipeline, prices here soared though supply was not affected.  Expectations affected pricing.  Oil is nuts.

I do think it's cute you think you are knowledgeable.

(06-29-2021, 08:44 AM)Alabuckeye Wrote: y'all think that opening global demand after a year of shutdown has any impact on oil prices/gas prices?

Global demand is still lagging slightly behind pre covid levels though, maybe it is time for people to admit that his policies are why this is happening.

Alabuck defends Biden more than CNN and Ms Nbc combined.

Practically shining Biden's proverbial shoes, here.

I learned all I needed to know about oil from the dudes at Saudi Aramco.

As it stands right now :

Consumer Prices across the board jumped 5% in May

U.S Inflation across the board is the highest in 13 Years

Year to Year Gas is up 52%

Airline Tickets up 24%

Hotels up 7%

Home Prices up 15%

Clothing up 3%

Used Cars up 29%

And we are suffering from a new term : Shrinkflation

What is that? Well its where your Food Distributor / Pet Food Suppliers are repacking your goods in Smaller Ounces and Pounds hoping you don't notice and raising their margins on those items hoping you don't notice the change.

For example we have purchased a certain Dog Food for years it was a 26 pound bag that cost $2.65 a Pound or $69 Our last order they send us their new replacement hoping we wouldn't notice i guess A 22 pound bag for $62 that cost us $2.81 a Pound.
This is happening across the board in the Retail World. And they are hoping this will go undetected by the majority of Consumers.

The futures markets for gas or anything else, are somewhat based on tangible data like production numbers for barrels of oil.  Those markets are also impacted by perception. So, along with considerably higher demand due to covid restriction changes, OPEC and other nations intentionally cutting supply and refineries changing to summer gas blends, there is likely also a perception change due to Biden/Harris that is completely independent from whether or not Biden/Harris have done anything to directly impact the world oil market.

(06-29-2021, 11:20 AM)P1tchblack Wrote: The futures markets for gas or anything else, are somewhat based on tangible data like production numbers for barrels of oil.  Those markets are also impacted by perception. So, along with considerably higher demand due to covid restriction changes, OPEC and other nations intentionally cutting supply and refineries changing to summer gas blends, there is likely also a perception change due to Biden/Harris that is completely independent from whether or not Biden/Harris have done anything to directly impact the world oil market.

You forgot to include a Graph .