Poll: Where will gas prices peak?

[Lithium]

It’s rich reading that six governors are petitioning Biden and Congress to suspend the Federal gas tax. Why don’t they start by asking their legislatures to suspend the gas tax (which is actually higher than the federal gas tax) in their own states? Oh right, because they don’t want to have to deal with the challenge of balancing a budget. It’s much easier to pass the buck to Washington and add to the national debt.

[CordMcNally]

When there was a major fault in my desert city's water supply many years ago, we needed to avoid draining the coffers below a certain limit or everything remaining would become contaminated. People responded by reducing their water supply to less than half for an extended period of time. I noticed absolutely no difference in my lifestyle or in the environment around me during this. I concluded we didn't need to really be using all the water after all.

I do not suppose there is in any way we could, you know, spend our money on things that do not take as much gas to both avoid stagnation and reduce prices? Eat seasonally, eat locally, eat less meat, actually remember to turn off the lights and the heating/air conditioner when we leave the room/house, buy things locally instead on Amazon, carpool our neighbors who also work at the same place, etc.

I bet a bit of inconvenience and slightly fewer options for what to eat/play with would go a surprisingly long way.

I think when the US (and basically our economy) shut down in March 2020 the US daily oil consumption fell from 20M barrels/day to like 14M barrels/day. I bet you noticed many disruptions in your life. Reducing dependency on oil will be a decades long endeavor. It has very little similarities to water rationing where most of the water waste is likely from watering yards.

[StarTrekDoc]

I'm wondering why we need heavy oil from Venz/Russia when Canada oil usually has the same from their Tar Pits. maybe not enough infrastructure (pipeline suspension Dakota) to support? Hindsight 20/20 on that perhaps?

The strange bedfellows war makes.

[CordMcNally]

I'm wondering why we need heavy oil from Venz/Russia when Canada oil usually has the same from their Tar Pits. maybe not enough infrastructure (pipeline suspension Dakota) to support? Hindsight 20/20 on that perhaps?

*cough* Keystone XL *cough*

[FunkDoc83]

*cough* Keystone XL *cough*

Don't worry Cord, Jen Psaki said it wouldn't have helped anyway

[Tim]

Natural gas - yes. Plentiful here in the US and if europe does reversing pipes for LNG, they will have inputs for us to ship over there relatively easy.

Oil > Gasoline - a whole different issue

Yes, everything is going up. This is what war does.

I think everything was going up well before “war” broke out. Remember when inflation was transitory? And then it was price gouging. And then it was supply chain. And then it was COVID. And finally it’s the White Supremacists.
This administration “shoots first and aims later”.
Messaging. Personally, I don’t think Biden does much other than read the script put in front of him.
Except for “come on man, trust me”.
From day one. My wife just got in trouble.
CBP stopped her. She was eating a Subway sandwich she bought in Mexico. Rules are rules, except when they aren’t. Might sue CBP for $4m.
I heard they might settle.
Believe me, a Subway sandwich is our most dangerous problem it seems.
At least we have government supplied test kits made in China.
Ukraine or Afghanistan are simply additional problems due to policy choices.
Energy policies have no causal impact.
Combine the two, you have synergies. Unfortunately, not beneficial.

[F0017S0]

Don't worry Cord, Jen Psaki said it wouldn't have helped anyway

I’d like to see Jen Psaki and Slow Joe move some barrels by hand; at least it would be doing something more than pontificating.

Edit: Kamala, too, she is capable of unloading some ships in the port, after she is done flying some jets to Eastern Europe…

[Dusn]

Personally, I don’t blame most economic issues on the government. We live in a capitalist economy and I don’t really want the govt trying to make everything affordable.

[Random1]

I changed my vote , to $9.99 a gallon, because this is the limit on the pumps, otherwise we will be pumping in liters soon

[Tim]

Consistent policy actually allows a free market economy to sort things out. Government picking winners and losers seems to fail.
https://finance.yahoo.com/news/u-ene...213314930.html Industry friendly.
https://nypost.com/2022/03/09/white-...gh-gas-prices/ Industry critical.

You will not get investment talking out of both sides of the administrations mouth to try to appease opposing points of view. All during the same week.

[HikingDO]

Personally, I don’t blame most economic issues on the government. We live in a capitalist economy and I don’t really want the govt trying to make everything affordable.

I agree, but the government shutting down the keystone pipeline definitely causes me to blame them.

[MPMD]

gas prices consistently bring out the idiot in most people.

also this might be an unpopular opinion but if you are a WCI reader and you even notice the price of gas you need to go back to chapter 1 of those books.

[legobikes]

how high?

[Dusn]

I agree, but the government shutting down the keystone pipeline definitely causes me to blame them.

the US is the largest oil producer in the world with more than enough oil for domestic consumption. Unfortunately, Europe is not as well prepared and are driving up prices by buying our oil on the free market. I hear that price volatility is also preventing increased oil investment/production because oil companies/investors don’t want to be burned if oil prices come crashing down again.

[Tim]

the US is the largest oil producer in the world with more than enough oil for domestic consumption. Unfortunately, Europe is not as well prepared and are driving up prices by buying our oil on the free market. I hear that price volatility is also preventing increased oil investment/production because oil companies/investors don’t want to be burned if oil prices come crashing down again.

Oil prices have always been cyclical and volatile.
The difference is, US government is putting a pretty heavy thumb on the scale. That is a new “known” factor in capital budgets. There has been evidence of increasing the desire of government to reduce consumption by reducing supply. Market supply disruption has been intentional.