Since @RoyDawgMercer is the expert on the ebb and flow of gas prices and OPEC maybe he can shed some light on the situation. When can we expect a drop, Roy? Soon? A year from now? 4 years? LOL
When will gas prices go down?
- Thread starter Clay17
- Start date
Once you follow the directions from your betters and buy an electric car and get rid of your A/C.
When OPEC +1 decide to open the spigots. It's called
supply and demand" as in economics? Have you ever heard of this topic? As more folks turn to electric vehicles the less demand upon petroleum but OPEC can also lower crude prices as that happens keeping gas competitive for a time. It really isn't all THAT hard to understand.... well... maybe it is for folks like yourself.
There is this pesky little issue.....
Musk has already stated that there is no way wind and solar can produce the electricity to run our country and electric vehicles too... black outs anyone ???
Have you driven anywhere in the last 2 months? Traffic is worse than ever as people get vaccinated and get out.
Increased driving +increased demand= higher prices. Economics 101; did you pass it?
That's a load of crud. More people turning to electric vehicles so less demand for gas so higher prices? No. Folks on the west coast still waiting in long lines or stations are out of gas.
When barry wants them down
And it fits his needs
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People were “out” before. Biden’s policies are the culprit.
So what is the excuse for the ridiculous prices when Obama was in office? I know Trump forced the "OPEC + 1" to open the spigots and better yet...we made our own.
And that mattered not one little bit way back when the US was energy independent (via domestic production, preferred contracts with allies, and high reserves), with the option to not buy OPEC oil and the ability to undercut them on the world market if prices got too high. Like now.
Suggest you go ask the Saudi’s or study the subject if capable. Lol. From what I read the latest OPEC+1 meeting / negotiations collapsed so who knows. When you’re dealing with Arabs, crazy So. / Latin Americans plus Russians it’s anyone’s guess at the moment. Saudis are walking a line: They want market share but do not want barrel pricing high enough to give fracking / shale sellers hope. Combine that with greater demand from more travel plus seasonal pent up travel demand and it means higher pump prices. Really simple economics.
PS - OPEC may be worried about the velocity auto makers are pivoting to electric vehicles. 2 schools of thought: 1) Does OPEC tighten supply to force pricing higher as demand slows over the coming years? OR 2) Open the spigots to over supply this depressing oil prices in trying to force ICE dependence? Will be interesting next 5-10 years!
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As someone who works in the industry, I can offer some insight. I have no idea what Roy said as I blocked him at least a year ago but he has been wrong every step of the way about energy. As for gas prices, the biggest change year over year has been primarily attributed to 2 things - the first is ethanol prices have almost gone from 60 cents to $2.00 plus a gallon, this added at least 14cpg, the next are RIN values the renewable id numbers that refiners are required to obtain either through blend credits or purchase those went from 40cpg to $1.90 adding another 15cpg to the price of gasoline. Furthermore, corn crops are down due to
Winter storms thus corn prices are through the roof and sugar cane production in Brazil has had some setbacks causing prices to rise. Expect more policies targeted at harming domestic production to be implemented thus raising your price at the pump.
Winter storms thus corn prices are through the roof and sugar cane production in Brazil has had some setbacks causing prices to rise. Expect more policies targeted at harming domestic production to be implemented thus raising your price at the pump.
Redirect Notice
www.google.com
Redirect Notice
www.google.com
So we can't blame it on "Biden's policies" for the rise in gas prices at the pump??? 😢
Here’s Why Gasoline Prices Are High And Going Higher
Gasoline prices are indeed high and destined to go higher, for a variety of reasons. Everyone would be well-advised to plan accordingly.
www.forbes.com
Well you kind of can since epa is forcing ethanol requirements more than the Trump epa.
They were going up before Biden...on top of the massive crop damages this winter. Seems like a huge stretch to do so while giving an unnecessary pass to the previous administration.
All-in-all, trending doesn't happen in a few months...takes years of policies and negotiations to go into effect in addition to weather effecting crops, extraction, and shipments of oil & ethanol.
took a few unnecessary words out of your post.
The oil reserve is quickly dwindling.
Forget about gas prices dropping as long as democRATs are in the White House.
Read this and you will have a better understanding of what we face.
Big Oil’s Dwindling Reserves Are A Major Problem | OilPrice.com
The oil reserves of international oil companies have collapsed over the last 5 years, and now the stability of the entire oil market is under threat
oilprice.com
Here's a policy decision that might have a little influence on domestic gas prices.
