09/09/2023 gas prices

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1shott

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Since Thursday morning, when I filled up, gas was $3.96 for 87 octane.

Today, same station driving home, $4.42

I was told Murpheys at the local wally world was $4.49

Yesterday biden shut down all drilling on the leases in Alaska that Trump had signed off on.

Saudi and Russia are selling oil to china as fast as they can pump it while saudi cuts production for opec by 2 million barrels a day.
 

HoLeChit

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Everywhere I have read stated that those remaining 7 leases in Alaska were part of the leases trump set up to auction off. However, they haven't been purchased. Companies aren't interested in them. So there wasn't a cut in production, or future production. That's like saying that your flour bill went up this week because your neighbor didn't plant wheat in his cow pasture this week. But even if those leases were being used, it wouldn't affect our production for at least a year.

Also, those leases were in the middle of the largest remaining wilderness in the United States. Its not such a bad thing that those oil companies aren't profiting off of it.
 

HoLeChit

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And china is paying, and their economy (for the moment) is doing well, so they get lots of oil.

OPEC and Saudi are cutting production due to the "summer travel season" being over for us.

We don't buy oil from Russia anymore because Russia bad.
 

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