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The reality about the price of oil - Facts
Posted on 7/16/26 at 5:38 pm
Posted on 7/16/26 at 5:38 pm
I’m so sick of the moaning and groaning about gas prices and the price of a barrel of oil. Our future as a country is worth paying a little more and this situation with Iran will pay off long term for all of us, no more bully in the Middle East, freedom of shipping, no nuclear weapons for Iran, and their terror proxies are destroyed.
I used AI and determined that the average price per barrel of oil over the past 10 years and it’s $64.73. The prices per barrel during the 4 year Biden administration was $71.26.
I then asked what the prices per barrel of oil should be using the average of the past 10 years and adjusting the price per barrel for inflation. The result is $78.15.
The prices per barrel of oil today, 7/16/26, is $79.54.
I used AI and determined that the average price per barrel of oil over the past 10 years and it’s $64.73. The prices per barrel during the 4 year Biden administration was $71.26.
I then asked what the prices per barrel of oil should be using the average of the past 10 years and adjusting the price per barrel for inflation. The result is $78.15.
The prices per barrel of oil today, 7/16/26, is $79.54.
This post was edited on 7/16/26 at 7:43 pm
21
Posted on 7/16/26 at 5:41 pm to Skippy1013
People buy luxuries and cry about commodities. More news at 10
Posted on 7/16/26 at 5:41 pm to Skippy1013
How is the US better off in the long term spending trillions of dollars to bomb Iran at Israel’s request?
Posted on 7/16/26 at 5:42 pm to Skippy1013
Our Au Pair from Florence was like “wow you have to pay $5.50 per for gas in California?!!” Then I had to tell her that she pays $2 for a liter which is like $7.50 a gallon.
Posted on 7/16/26 at 5:42 pm to SuperSaint
Stupid frogs
Posted on 7/16/26 at 5:44 pm to Nado Jenkins83
quote:
People buy luxuries and cry about commodities.
This is very profound and perfectly describes those younger than boomers.
Posted on 7/16/26 at 5:45 pm to Oilfieldbiology
Read the first paragraph in my post, I explain this.
Posted on 7/16/26 at 5:46 pm to Skippy1013
If it weren’t subsidized by the Middle East, the real price would easily be >$1000/bbl. There really is no substitute for oil in modern society, it’s borderline priceless
Posted on 7/16/26 at 5:47 pm to Skippy1013
quote:
The prices per barrel during the 4 year Biden administration was $71.26.
Right in the sweet per landman, good work Biden
Posted on 7/16/26 at 5:47 pm to Skippy1013
The only thing that truly impacts the US in all you listed was the freedom of shipping. We had that.
Also, we’ve been doing a pretty damn fine job stopping them from nuclear breakout without kinetic actions by the US for the past ever. Let Israel fight its own wars.
Also, we’ve been doing a pretty damn fine job stopping them from nuclear breakout without kinetic actions by the US for the past ever. Let Israel fight its own wars.
Posted on 7/16/26 at 6:04 pm to Oilfieldbiology
quote:trickle down economics. many people benefit from the war industry. Financers, manufacturers, logistics, and so on. I'm not a fan of the war industry but just answering the question.
How is the US better off in the long term spending trillions of dollars to bomb Iran at Israel’s request?
Posted on 7/16/26 at 6:05 pm to Skippy1013
Stores and restaurants are full of people.
Posted on 7/16/26 at 6:16 pm to Oilfieldbiology
quote:
Stupid frogs
She's from Italy, not France...
Posted on 7/16/26 at 6:34 pm to Skippy1013
Remember when gas was 4 bucks in 2008?
When you account for inflation that means gas was like 30 bucks a gallon back then
When you account for inflation that means gas was like 30 bucks a gallon back then
Posted on 7/16/26 at 6:35 pm to Skippy1013
Even with crude at $80/bbl … the price today is less than $2/gal and roughly equal to that of bottled spring water.
The media and sky screamers are more politically motivated than they are truly concerned about the price of oil …
The same reasoning behind the media reporting oil spills in gallons … drama.
If someone is concerned about the cost to fill their gas tank, they should focus on the % of that which goes to state and federal taxes.
The media and sky screamers are more politically motivated than they are truly concerned about the price of oil …
The same reasoning behind the media reporting oil spills in gallons … drama.
If someone is concerned about the cost to fill their gas tank, they should focus on the % of that which goes to state and federal taxes.
Posted on 7/16/26 at 6:40 pm to Oilfieldbiology
quote:Link?
trillions
Posted on 7/16/26 at 6:43 pm to Skippy1013
quote:
no more bully in he Middle East,
That would be the nation that gave Iraq weapons and backing to attack Iran. Then turned around and sold weapons to Iran at the same time to fight Iraq, then gave Iraq chemical weapons when then began to lose badly, then invaded Iraq over the chemical weapons you gave them now rebranded as weapons of mass destruction. We have also done the same with Israel, our breeding proxy attack dog in the region, constantly invading all its neighbors to fulfill their greater Israel project. There is only 1 bully in the region and doesn't even live there.
Posted on 7/16/26 at 6:45 pm to Skippy1013
When the president you voted for is in charge, high gas prices are a minor inconvenience. When it’s someone you didn’t vote for, it’s a national disaster.
This post was edited on 7/16/26 at 6:46 pm
Posted on 7/16/26 at 6:49 pm to Skippy1013
quote:
Comparing the prices of common household goods to what they were back in his younger days, local old man George Swander reportedly remembered Tuesday when things cost roughly the same as now after adjusting for inflation. “Back in my day, you see, you could get a hamburger for just 15 cents, which, when taking into account steady economic growth and the increase in federal monetary creation over time, is about the same as it is now,” said Swander, recalling that he used to be able to get by on just a few bucks a week that, in relative terms, equaled roughly the same amount that his expenses came out to today. “When I see how much even basic stuff like food and household items cost nowadays, I’m always shocked until I factor inflation into it, and then it’s just like I was back in 1954. Your dollar used to go about the same distance once you take overall adjusted economic growth into account, believe me.” The old man added that he even remembered when minimum-wage jobs paid roughly the same amount as they do now after seeing the hourly rate was exactly the same.
The Onion - Old Man Remembers When Things Cost Roughly The Same As Now After Adjusting For Inflation
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