posted by jmogSo this devastation waited through the whole year of the pandemic and waited until now to drive the price up?
Or, a more simple answer, speculation is driving it up as the speculators are worried after the shutdown of Keystone.
Actually yes, that seems about right. Gas is still cheaper now than it was pre pandemic in case you weren't aware. Like he said, the demand is going back up.
posted by jmogSeriously? Vaccine? I hope you were being facetious.
No, I'm not. It's not the only factor. But it counts. Not that millions of drivers are back on the road all of a sudden. But the vaccine represents a strong possibility of economic recovery in coming month and a recovery in oil demand.
Maybe try the overall philosophy of the new regime and the policies they are pursuing right out of the gate. Keystone; Dakota; Anwar; Gulf; fracking; federal lands; climate change hysteria; permits being revoked, leases getting whacked ............the writing is on the wall, and this is not surprising in the least with these whack jobs. Energy independence is held in disdain by the radical left.
Buckle up.
posted by ptown_trojans_1A number of factors that I read and from talking to a colleague that covers the overseas oil market.
1. There is a strike in Norway that is hampering production
2. The weather in Texas is shutting down oil production, thus limiting supply.
3. The idea of another round of federal spending will link to more people spending and more demand of oil.
4. OPEC is likely to raise their prices as well in relation to the higher demand anticipated here in the US by Shale
5. Yes, the vaccine is a factor as it means more people will eventually travel.
6. The price for a barrel was artificially deflated due to the pandemic and was due to increase as people get back to normal.
7. Yes, the Keystone decision did play a small part, but other factors above also played a role.
8. Trying to tie higher gas prices to a President is dumb as its a complicated market.
1. Norway? Really? I doubt they affect domestic oil prices here that would make the price jump 50+%
2. Weather? STFU about that. Gas prices and oil prices went up weeks ago. Weather hit this week.
3. You just made our point....demand goes up and shutting down production in the US affects the prices more then all these factors combined.
4. Of coarse OPEC will raise prices....we just shut down our net export and they are going to own us.
5. Not a factor
6. The price of the barrel was low because we were controlling the market and not OPEC
7. It is the number one factor
8. There isnt one person in this country that knows anything about politics that would agree with you. This President (just like Obama) is anti energy. When we are paying $3.50 a gallon you will finally learn.
I am surprised the media hasn’t told us how many 9/11s in terms of COVID deaths have happened since Biden took office.
THey arent telling us anything .......the daily totals are so low that we are no longer in a "pandemic"
And they dont want this to end too soon . because it would look like Trump was the reason. Dems want to drag it out claim victory
posted by like_thatI am surprised the media hasn’t told us how many 9/11s in terms of COVID deaths have happened since Biden took office.
Lol
Hi Aaron. How's it going? https://t.co/iUOg0ubjNE pic.twitter.com/CJ9GIbb47w
— Stephen L. Miller (@redsteeze) February 16, 2021
Thanks for all the answers everyone...and especially those that didn’t say it like I was a dumb fuck. Appreciate it.
I don’t care who the president is....was wondering and knew this thread would attempt delivery. Man some of you are defensive lol.
posted by Ironman92Thanks for all the answers everyone...and especially those that didn’t say it like I was a dumb fuck. Appreciate it.
I don’t care who the president is....was wondering and knew this thread would attempt delivery. Man some of you are defensive lol.
These are all safe harbor statements. Don't invest based upon what all of us financial geniuses on Ohiochatter say - you know, a fool and his money....
posted by Dr Winston O'BoogieThese are all safe harbor statements. Don't invest based upon what all of us financial geniuses on Ohiochatter say - you know, a fool and his money....
I was just looking for a nice and easy dumbed down answer. Between the 12 people on this site you can get a decent answer for about any topic.
posted by ptown_trojans_1No, because in talking to my colleague, I asked him that and he said, the Norway issue, OPEC decision, and federal spending are more important factors. The Texas weather only adds to it. The strike in Norway is apparently a really big deal.
Again, tying oil prices to a President is dumb. It's a complicated market.
I agree that tying oil prices to a President is dumb. But you can’t deny that denying fracking contracts and stopping the pipeline doesn’t have speculators worried about gas and oil policies coming from this administration.
Oil prices aren’t driven by simple supply and demand, speculation places a large role in it.
posted by jmogI agree that tying oil prices to a President is dumb. But you can’t deny that denying fracking contracts and stopping the pipeline doesn’t have speculators worried about gas and oil policies coming from this administration.
Oil prices aren’t driven by simple supply and demand, speculation places a large role in it.
Sure, it is a factor, but just that...a factor, not THE factor.
This is off topic and irrelevant to this thread but for the sake of not bumping the Trump thread where it may be more relevant....the USPS really fucking sucks these days.
posted by friendfromlowryThis is off topic and irrelevant to this thread but for the sake of not bumping the Trump thread where it may be more relevant....the USPS really fucking sucks these days.
The USPS is - and has been - on the long road to goodbye. It still has a role to serve perhaps, but stopping by every house everyday is not it. Maybe it can become a rural delivery service or something.
USPS been going downhill bad the last dozen years. Here it’s mostly druggies delivering and not great folk in charge of them. It was a heralded position 30 years ago but it’s nothing anymore.
I don’t give a shit about the day to day stuff coming to my mailbox. Most days all of it will go unopened to the trash.
But every once in a while I’ll order something and USPS and end up waiting weeks for it. I ordered something from Columbus and it’s been waiting for the USPS pickup since the 11th. Just fucking useless.
posted by friendfromlowryI don’t give a shit about the day to day stuff coming to my mailbox. Most days all of it will go unopened to the trash.
But every once in a while I’ll order something and USPS and end up waiting weeks for it. I ordered something from Columbus and it’s been waiting for the USPS pickup since the 11th. Just fucking useless.
We mailed Christmas cards from Ohio to nieces in Houston and one in Phoenix on Dec14th. The one in Phoenix received hers in late January and the one in Houston received hers 2 weeks ago.
posted by ptown_trojans_1Sure, it is a factor, but just that...a factor, not THE factor.
Then we are in agreement and probably just arguing over how much of a factor it is.
We can move on.
posted by jmogThen we are in agreement and probably just arguing over how much of a factor it is.
We can move on.
Correct as I mentioned the pipeline as a factor in my initial list.
posted by friendfromlowryI don’t give a shit about the day to day stuff coming to my mailbox. Most days all of it will go unopened to the trash.
But every once in a while I’ll order something and USPS and end up waiting weeks for it. I ordered something from Columbus and it’s been waiting for the USPS pickup since the 11th. Just fucking useless.
USPS has pretty much stopped doing updates so you may receive it before it says it’s been picked up. At this point they are basically doing ready for pickup and delivered with no updates betwee
