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Message
re: The irony of funding Ukraine is that the conflict is keeping oil prices high.
Posted on 2/23/24 at 1:18 pm to GumboPot
Posted on 2/23/24 at 1:18 pm to GumboPot
quote:
The Green New Deal type policies out of this administration is the remaining 90%.
It's crazy but solar panels and lithium batteries are about the only things that haven't been affected by inflation. probably because most of the inflationary pressure is from money "invested" in these areas.
a 4x8 piece of OSB is 3 times more expensive than it was 4 years ago but a 100 watt solar panel on Amazon is 7 bucks cheaper. CONSUMERS REJOICE!
0
Posted on 2/23/24 at 1:40 pm to COAUTiger
Yet you idiots still can’t grasp basic economics.
Read slow.
It’s not how much oil the companies are pumping no versus then.
It’s the COST those companies endure to drill the oil now versus then. That’s from policy changes by Biden versus Trump.
It was much cheaper to obtain it then it is now.
Do you understand? Not about volume.
If the US cow population doubled, that has no bearing on what the price of milk should be.
It depends on what it COSTS the company to produce and deliver the product.
Read slow.
It’s not how much oil the companies are pumping no versus then.
It’s the COST those companies endure to drill the oil now versus then. That’s from policy changes by Biden versus Trump.
It was much cheaper to obtain it then it is now.
Do you understand? Not about volume.
If the US cow population doubled, that has no bearing on what the price of milk should be.
It depends on what it COSTS the company to produce and deliver the product.
Posted on 2/23/24 at 1:44 pm to riccoar
Wtf? That’s not how it works.
This post was edited on 2/23/24 at 1:50 pm
Posted on 2/23/24 at 1:45 pm to hottub
quote:
Yep. Had this very conversation with my MIL when she thought she was “sticking it to Putin” by paying more at the pump because we stopped importing Russian oil. When I told her that China is more than happy to buy the Russian oil we weren’t buying but at a higher price which made Putin wealthier, she went quiet for a minute and then said, “well I just don’t believe that is true.”
Honestly, do you really believe the Chinese are buying Russian oil above market price?
Posted on 2/23/24 at 1:59 pm to cwill
quote:
Wtf? That’s not how it works.
Is Russian oil sanctioned or not?
Posted on 2/23/24 at 2:01 pm to JohnnyKilroy
quote:
Oil prices are not even remotely high lol.
Adjusted for inflation oil is below average over the last 20, 40 and 50 years.
Yep.
For the hell of it I looked up the average price of a gallon of gas in 1970 and it was 36 cents (nationwide).
Adjusted for inflation that is $2.83.
Average price for a gallon in WI today is $3.02. Not much difference.
Posted on 2/23/24 at 2:04 pm to doubleb
quote:
Honestly, do you really believe the Chinese are buying Russian oil above market price?
It’s not about that. It’s about where and how it’s refined.
Posted on 2/23/24 at 2:21 pm to loogaroo
quote:
Is Russian oil sanctioned or not?
It is and has never been disputed in this thread. So what's your point relative to my questioning of riccoar's understanding of oil prod economics?
This post was edited on 2/23/24 at 2:23 pm
Posted on 2/23/24 at 2:28 pm to riccoar
Please ignore one of your upvotes. I meant that for cwill.
Did you know that the price of oil is based on supply and demand on the international market? US oil price is based on the price of the international market, not the cost of business. Oil has been sold at a cost of business lost in the past. That goes into profit margins, not price of oil.
Oh wow, I just re-read your post. You called other idiots about not understanding basic economics and then write this -
"If the US cow population doubled, that has no bearing on what the price of milk should be.
It depends on what it COSTS the company to produce and deliver the product."
WOW!! Even basic economics is not that basic. Just wow... Not even a mention of supply and demand?? And I'm an idiot??
And let's read my comment again, but slowly this time. My production numbers had nothing to do with the cost of oil. I just thought the production numbers were interesting. The later comment of price of oil v gas was simply stating that the margin trend between the two has significantly increased. I guess you didn't check out the link prior to spouting off. But that is typical so I guess I should have expected this.
Did you know that the price of oil is based on supply and demand on the international market? US oil price is based on the price of the international market, not the cost of business. Oil has been sold at a cost of business lost in the past. That goes into profit margins, not price of oil.
Oh wow, I just re-read your post. You called other idiots about not understanding basic economics and then write this -
"If the US cow population doubled, that has no bearing on what the price of milk should be.
It depends on what it COSTS the company to produce and deliver the product."
WOW!! Even basic economics is not that basic. Just wow... Not even a mention of supply and demand?? And I'm an idiot??
And let's read my comment again, but slowly this time. My production numbers had nothing to do with the cost of oil. I just thought the production numbers were interesting. The later comment of price of oil v gas was simply stating that the margin trend between the two has significantly increased. I guess you didn't check out the link prior to spouting off. But that is typical so I guess I should have expected this.
This post was edited on 2/23/24 at 3:12 pm
Posted on 2/23/24 at 3:14 pm to hottub
quote:
well I just don’t believe that is true
She’s right you know
Posted on 2/23/24 at 3:18 pm to riccoar
quote:
It’s the COST those companies endure to drill the oil now versus then. That’s from policy changes by Biden versus Trump. It was much cheaper to obtain it then it is now. Do you understand? Not about volume.
Margins are fat rn for both upstream and especially downstream.
Posted on 2/23/24 at 3:45 pm to cwill
quote:
It is and has never been disputed in this thread. So what's your point relative to my questioning of riccoar's understanding of oil prod economics?
How much would oil be without the sanctions?
Posted on 2/23/24 at 3:55 pm to loogaroo
Point is the sanctions are inflating the price of oil allowing Russia to finance the war when ultimately the refined product (mainly JetA1 and EN590) gets sold to us anyway. It's being bought by China and repapered in Rotterdam, Fujairah, Mersin or even PMEX. Now throw Venezuela in the mix as well.
Posted on 2/23/24 at 3:58 pm to loogaroo
quote:
Point is the sanctions are inflating the price of oil allowing Russia to finance the war when ultimately the refined product (mainly JetA1 and EN590) gets sold to us anyway. It's being bought by China and repapered in Rotterdam, Fujairah, Mersin or even PMEX. Now throw Venezuela in the mix as well.
Oil is much cheaper today than it was before the sanctions were imposed.
I think you might be retarded, baw.
Posted on 2/23/24 at 4:02 pm to loogaroo
quote:
How much would oil be without the sanctions?
Woulda been the same for the most part because Russia could sell oil at a discount. The oil basically made its way into the market so their wasn't a massive supply disruption. That was the point of the price cap. The world could not afford for Russian oil to disappear from the market.
Posted on 2/23/24 at 4:05 pm to loogaroo
quote:
Point is the sanctions are inflating the price of oil allowing Russia to finance the war when ultimately the refined product (mainly JetA1 and EN590) gets sold to us anyway. It's being bought by China and repapered in Rotterdam, Fujairah, Mersin or even PMEX. Now throw Venezuela in the mix as well.
How is the price inflated if the oil is getting into the market at a reduced price?
Posted on 2/23/24 at 4:18 pm to JohnnyKilroy
quote:
Oil is much cheaper today than it was before the sanctions were imposed.
And would be even cheaper without the sanctions and regulations.
Posted on 2/23/24 at 4:20 pm to cwill
quote:
How is the price inflated if the oil is getting into the market at a reduced price?
See my reply above. You guys have no clue what's happening in the fuel trading world because of this war and now the Red Sea attacks.
China is loving this.
Posted on 2/23/24 at 4:32 pm to Powerman
Cheap compared to what? Bidens's first 3 years in office?
The price for a barrel of oil more than doubled between 2020 and 2022, from an average of $44.28 to $94.90.
But yeah, definitely getting it cheaper now.
The price for a barrel of oil more than doubled between 2020 and 2022, from an average of $44.28 to $94.90.
But yeah, definitely getting it cheaper now.
Posted on 2/23/24 at 4:37 pm to PaperTiger
quote:
The price for a barrel of oil more than doubled between 2020 and 2022, from an average of $44.28 to $94.90.
They rushed in here and showed how ignorant and politically blinded they are. They have no clue what is happening globally and how everything this administration is doing is helping Russia and China while screwing us.
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