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re: The irony of funding Ukraine is that the conflict is keeping oil prices high.
Posted on 2/23/24 at 11:43 am to doubleb
Posted on 2/23/24 at 11:43 am to doubleb
I am one of the few on this board that believes the president has very little to do with the overall price of oil, but I found this interesting. This is NOT a political statement for or against any president.
Average monthly US crude oil production by year.
2013 - 227,984 per month
2014 - 267,387
2015 - 287,116
2016 - 269,816
2017 - 284,621
2018 - 333,098
2019 - 374,462
2020 - 345,209
2021 - 342,727
2022 - 362,281
2023 - 391,616
Looking at the price of oil v price of gas, the ratio of the cost to price is MUCH higher than it has been in the past.
LINK
Average monthly US crude oil production by year.
2013 - 227,984 per month
2014 - 267,387
2015 - 287,116
2016 - 269,816
2017 - 284,621
2018 - 333,098
2019 - 374,462
2020 - 345,209
2021 - 342,727
2022 - 362,281
2023 - 391,616
Looking at the price of oil v price of gas, the ratio of the cost to price is MUCH higher than it has been in the past.
LINK
1
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.
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