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Will Trump be able to get gas prices to sub $2 again?
Posted on 2/14/25 at 9:56 am
Posted on 2/14/25 at 9:56 am
Simple question.
I don’t think if he doesn’t that it would mean it’s a failure on his part per se, but I do know it’s a goal of his.
I’m sure there’s a lot of factors to this, but I feel like this would have the biggest effect in everyday life if accomplished.
I don’t think if he doesn’t that it would mean it’s a failure on his part per se, but I do know it’s a goal of his.
I’m sure there’s a lot of factors to this, but I feel like this would have the biggest effect in everyday life if accomplished.
29
Posted on 2/14/25 at 9:57 am to Yaboylsu63
Yes
Posted on 2/14/25 at 10:00 am to Yaboylsu63
I think $2.00, give or take a quarter, would be a huge win as it will not only lower the gas we buy, but it should also lower the cost of everything else we buy.
Unfortunately, companies get greedy and might choose to leave the price where it is, despite their lower cost, to increase profits..
Either way, gas around $2.00 would be a very good thing for this country, and I think we have a good chance of getting there..
Unfortunately, companies get greedy and might choose to leave the price where it is, despite their lower cost, to increase profits..
Either way, gas around $2.00 would be a very good thing for this country, and I think we have a good chance of getting there..
This post was edited on 2/14/25 at 10:02 am
Posted on 2/14/25 at 10:06 am to Yaboylsu63
We need massive drilling. World wide demand is supposed to increase by about 1.5M barrels/day (bpd) in 2025. Oil supply was estimated to increase by about 1.6M bpd. So, even slight increases in production over original estimates can shift the balance pretty hard. I'm guessing if we can get oil production to increase by .5-1.0M bpd here in the US there's a good chance oil prices can drop to $50 or less. Which should get us below $2/gal. It may take 6 mos or more but it's very doable.
This post was edited on 2/14/25 at 10:07 am
Posted on 2/14/25 at 10:08 am to Yaboylsu63
Probably not. No matter how much more oil we extract, we're still limited by the amount of refinery capacity.
We haven't built a new oil refinery in the US since 1977...and that's highly unlikely to change.
ETA: gas prices bottoming out are a sign of economic problems. The only times we've had average gas prices below $2 in the past 20 years were during the 2008-09 recession and in during the earlier parts of the Covid nonsense when most people were barely leaving their house.
We haven't built a new oil refinery in the US since 1977...and that's highly unlikely to change.
ETA: gas prices bottoming out are a sign of economic problems. The only times we've had average gas prices below $2 in the past 20 years were during the 2008-09 recession and in during the earlier parts of the Covid nonsense when most people were barely leaving their house.
This post was edited on 2/14/25 at 12:09 pm
Posted on 2/14/25 at 10:10 am to Yaboylsu63
No.
Even with US oil production at its highest ever under Dementia Joe, prices were still high.
Oil companies are beholden to shareholders, not the consumer. They don't care how much Trump beats his desk and says, "Drill baby, drill."
They all know his 4 Big Macs daily have his blood looking like crude.
Even with US oil production at its highest ever under Dementia Joe, prices were still high.
Oil companies are beholden to shareholders, not the consumer. They don't care how much Trump beats his desk and says, "Drill baby, drill."
They all know his 4 Big Macs daily have his blood looking like crude.
Posted on 2/14/25 at 10:16 am to Yaboylsu63
There would have to be some major changes in the cost of getting it out of the ground to the the pump to get it back below $2.
They will not be over producing oil anytime soon. Infact, major oil companies have cut back on drilling because they see the economy being flat for the next year or so.
The permian basin (which is our largest producing basin) is seeing a decline in production due to the aging of wells.
They will not be over producing oil anytime soon. Infact, major oil companies have cut back on drilling because they see the economy being flat for the next year or so.
The permian basin (which is our largest producing basin) is seeing a decline in production due to the aging of wells.
Posted on 2/14/25 at 10:17 am to Yaboylsu63
No. There oil companies would go out of business
Posted on 2/14/25 at 10:28 am to Yaboylsu63
quote:
Simple question.
I don’t think if he doesn’t that it would mean it’s a failure on his part per se, but I do know it’s a goal of his.
I’m sure there’s a lot of factors to this, but I feel like this would have the biggest effect in everyday life if accomplished.
Nope. That would mean very low oil prices. This would destroy the economy of his best bud Putin. Won't happen.
Posted on 2/14/25 at 10:30 am to DGuillory
quote:
Oil companies are beholden to shareholders, not the consumer.
Well they kind of need shareholders to be able to raise capital for new E&P projects, so...
Posted on 2/14/25 at 10:31 am to Yaboylsu63
quote:
Will Trump be able to get gas prices to sub $2 again?
That would be great but $2 in today money is $1.50 in 2016 money. If you can get McD's to lower the prices of Big Mac's and Ford to lower the prices of F150's, then sure you can get sub-$2 gas. But thanks to POTATUS, it's not apples to apples anymore.
Posted on 2/14/25 at 10:31 am to BigBro
quote:
Unfortunately, companies get greedy and might choose to leave the price where it is, despite their lower cost, to increase profits..
This is how it works. This is why Trump himself has said its next to impossible to get prices to go down once they go up (after he was elected) despite running on lowering the price of everything.
Posted on 2/14/25 at 10:32 am to Yaboylsu63
On an equivalency, yes. But the dollar is far too weak right now to get fuel to that price. As the dollar strengthens, you will see fuel drop.
Posted on 2/14/25 at 10:39 am to bama1959
quote:
there's a good chance oil prices can drop to $50 or less
Over about the past 20 years, oil prices have dropped below $50 for a stretch of multiple months three times. Those three stretches also had something else in common, a recession.
Two of them were major recessions...08-09, and COVID 2020 stretch, where unemployment also spiked.
Not sure consistent sub-$50 oil is a good thing, especially if it's a signal of less demand and economic commerce.
Posted on 2/14/25 at 10:47 am to Yaboylsu63
Are you factoring inflation? Because they've rarely been under $2 (in today's dollars).
Posted on 2/14/25 at 10:50 am to Yaboylsu63
I hope so, just so liberals will stfu about it
Posted on 2/14/25 at 10:51 am to Yaboylsu63
We may see that in some areas like TX, LA, MS.
But it's never getting that low in California.
But it's never getting that low in California.
Posted on 2/14/25 at 10:53 am to DGuillory
quote:
Even with US oil production at its highest ever under Dementia Joe, prices were still high.
When it reached the highest and we had the least border crossings is when gas was the cheapest under biden and inflation was the lowest.
High energy costs raises the cost of everything. Unfettered immigration raises the demand of everything. Putting more upward pressure on prices.
This post was edited on 2/14/25 at 10:55 am
Posted on 2/14/25 at 12:32 pm to Yaboylsu63
If the dollar actually had the value that it hade four years ago there would be a very good possibility we could see gas at or below $2.00/gal. Unfortunately, the dollar has devalued quickly and significantly thanks to Sleepy Joe and his secret cadre - so getting down to $2.00/gal with the current real value of a dollar is probably not going to happen.
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