If You Are PLanning To Fill The Gas Tank....

[WhiteyMacD]

The market doesn't give a fu€k about the cost of production. Years of being in production agriculture is my source. You'd laugh if you saw how insignificant the farm programs are. Now it is simply a subsidy on the purchase of crop insurance. That's it.

Oil industry can steer the price. It's not the only driving factor, but it cannot be considered insignificant. The problem is one part Saudis don't like losing market share to us and Russia and one part your president pissed of the Saudis by chilling with their enemies.

 

[RidgeHunter]

1986 really helped the working poor in OK. This will too.

All we need is cyclical boom-bust cycles to continue for several hundred more years and that's the best way to help poor people out of poverty.

The temporary windfall the working poor are getting right now will do great things for them, especially since wages have been keeping pace with inflation for decades and will continue to do so.

A bachelor's degree is much less valuable today than it was in the 70s, why does it cost more?

 

[Shadowrider]

Remeber when Palin fans thought upping US production would lower pump prices? LOL. That shows you the level of knowledge most folks have of oil prices.

Oil prices and climate change are two topics where both the average lefty and the average righty sound equally stupid.

What planet are you on Ridge? That's precisely why we have $30 oil today.

 

[WhiteyMacD]

1986 really helped the working poor in OK. This will too.

All we need is cyclical boom-bust cycles to continue for several hundred more years and that's the best way to help poor people out of poverty.



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I like the oil industry. It is one of the most fascinating things to observe. The tech involved, the economics, the cyclic nature. It's like this jolly green giant amongst dwarfs that just won't die.

 

[Hobbes]

The market doesn't give a fu€k about the cost of production. Years of being in production agriculture is my source. You'd laugh if you saw how insignificant the farm programs are. Now it is simply a subsidy on the purchase of crop insurance. That's it.

Emphasis added.

The market doesn't care if it costs an oil company $40 to recover a barrel of oil selling for $30 just like they don't care if it cost farmerbyron $5 to produce a bushel of wheat that sells for $4 this year because Australia had a bumper crop and exported most of it.

 

[farmerbyron]

Oil industry can steer the price. It's not the only driving factor, but it cannot be considered insignificant. The problem is one part Saudis don't like losing market share to us and Russia and one part your president pissed of the Saudis by chilling with their enemies.

My president?!? Them's fighting words.

Honestly the single biggest factor on the price of oil being artificially low is Iran entering the market and the Saudis not wanting them to get enough cash to become a more powerful influence in the region.

 

[farmerbyron]

1986 really helped the working poor in OK. This will too.

All we need is cyclical boom-bust cycles to continue for several hundred more years and that's the best way to help poor people out of poverty.

The temprary windfall the working poor are getting right now will do great things for them, especially since wages have been keeping pace with inflation for decades and will continue to do so.

A bachelor's degree is much less valuable today than it was in the 70s, why does it cost more?

Just think how valuable a degree would be if Bernie makes them free!!

 

[WhiteyMacD]

My president?!? Them's fighting words.

Honestly the single biggest factor on the price of oil being artificially low is Iran entering the market and the Saudis not wanting them to get enough cash to become a more powerful influence in the region.

Well he isnt mine so I couldn't say ours.

 

[RidgeHunter]

What planet are you on Ridge? That's precisely why we have $30 oil today.

It's one of about 6-8 reasons oil prices are low today.

 

[WhiteyMacD]

In all honesty, while it may be really sh|tty for a lot of people... the cyclic nature is probably one of the reasons the industry perseveres despite naysayers preaching false narrative about peak oil. It acts like a reoccurring sterilization. Some good gets taken out as well, but for the most part it allows companies (At least the fiscally smart ones who can weather the storm) to shed the excess weight and retain its top performers. An industrial survival of the fittest.

Part of the reason why none of us will see it go away in our lifetime.