WTI Oil at $109/$110 a barrel--Sun Evening

113,135 Views | 967 Replies | Last: 3 days ago by No Spin Ag
techno-ag
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EFR said:

It cracks me up seeing people say this is no big deal. More money spent on necessities equals less disposable income which is obviously bad for the economy. And even if you can easily afford it, who wants to waste money? I sure don't.
Bear in mind it doesn't really matter what Trump does, haters are going to hate him for it. But if this keeps Iran from getting a nuke, I'll happily tolerate some pain at the gas station.
The left cannot kill the Spirit of Charlie Kirk.
EFR
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With this one it entirely is about what Trump did, and what he does in the future. Folks love to say the president doesn't control gas prices, and they are usually right. This time it is entirely related to the administration striking Iran.
BigRobSA
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techno-ag said:

EFR said:

It cracks me up seeing people say this is no big deal. More money spent on necessities equals less disposable income which is obviously bad for the economy. And even if you can easily afford it, who wants to waste money? I sure don't.
Bear in mind it doesn't really matter what Trump does, haters are going to hate him for it. But if this keeps Iran from getting a nuke, I'll happily tolerate some pain at the gas station.


Most people are center left or center right, though.

Higher living expenses could cost Rs a few seats in an already contentious legislature.

I believe that's what is worrisome to most cognizant people.
Dorm 15
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AG
Fuel price in Gardiner MT went from 3.79 Saturday to 4.09 on Sunday.
BrazosDog02
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EFR said:

With this one it entirely is about what Trump did, and what he does in the future. Folks love to say the president doesn't control gas prices, and they are usually right. This time it is entirely related to the administration striking Iran.


Hopefully those that support the war enjoy it and feel it's worth it when they start eating the cost in full. Right now they just feel a little squeeze at the pump but that should ramp up to everywhere soon and many started weeks ago.

For some reason, people don't understand how this works. It's going to be pain from anything that requires fuel to get to you. In my industry of construction, prices went up two weeks ago 12-16% for at least two of my suppliers. That is passed to you. Last week, a fuel surcharge was also added. That is passed to you. Any projects I am involved with on project management side…I increased my hourly fee to accommodate my diesel costs to and from job sites. That is passed on to you. For the commercial accounts, those dollar figures are much bigger and the delta in price is considerably more. Each of those commercial guys will be passing ALL of those to you, the consumer in some manner or another. It's pretty basic economics but I don't think folks think too deeply about it when they are waving MAGA or Biden flags around.

It's going to get worse before it gets better and yes, this is totally Trumps mistake. He'll need to figure out a quick way out but he'll never recover from the initial misstep and we'll all be paying for that for a long time.
docb
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Everything will go up
BrazosDog02
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docb said:

Everything will go up


Hell yeah…..to the yeah yeah yeahhhhhhhhhhb.
Sims
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EFR said:

With this one it entirely is about what Trump did, and what he does in the future. Folks love to say the president doesn't control gas prices, and they are usually right. This time it is entirely related to the administration striking Iran.

This is absolutely correct. In in the spirit of calling a spade a spade...

Since Trump took office the 2nd time around:

BLM approved over 6100 applications for permits to drill, more than any fiscal year in the past two decades.

Seeded TVA and Holtec combined $800M for small modular nuke reactor projects.

Funded the restart of Constellation Energy's 850MW nuke plant in Pennsylvania.

Delayed or cancelled the closure of 17GW of coal fired production.

Included Potash and Phosphorus in the USGS Critical Mineral list creating a policy framework for investment incentives, stockpiling authority and supply chain protections.

Released 172M barrels from the SPR over a 120 day period in response to actual wartime conditions rather than election time conditions.

Temporarily waived the Jones Act - mostly in an effort to speed the SPR release but also impacts critical fertilizer shipments.

Eased sanctions on Venezualan fertilizer and oil sales directly to the US/Western Hemisphere rather than having it go overseas on the sanctioned market.

Here's my larger point - This (Iran) is calculated gamble on the Trump admin that they'll be judged for. In a bubble, the considerations on the cost of fuel at the pump and the increase in food prices we'll see in 3-4 months when crop yields are lower because of the impact to fertilizer production will be enough for most casual observers to call it a failure. I disagree but that's beside the point.

For all the derision toward Trump in the limelight, the way that Chris Wright and Doug Burgum have steered this ship in the background is masterful and we should be glad Trump had the good judgement to get those men in the seats that they are in.
redsquirrelAG
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We will be the energy king within 1 year. This is the end of the ME dominance on energy.

Good trump.
samurai_science
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redsquirrelAG said:

We will be the energy king within 1 year. This is the end of the ME dominance on energy.

Good trump.


When does cheaper gas start?
MouthBQ98
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AG
samurai_science said:

redsquirrelAG said:

We will be the energy king within 1 year. This is the end of the ME dominance on energy.

Good trump.


When does cheaper gas start?


Inflation is a sticky phenomenon on the retail side. Nobody wants to lower prices on inventory they have forecast and brought in at projected hogher prices until demand drops or competitive price drops really set in, so the retailers hold onto prices to test the elasticity for a while, in a sort of brinksmanship game over market share.
docb
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samurai_science said:

redsquirrelAG said:

We will be the energy king within 1 year. This is the end of the ME dominance on energy.

Good trump.


When does cheaper gas start?

That is a very, very good question.
techno-ag
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MouthBQ98 said:

samurai_science said:

redsquirrelAG said:

We will be the energy king within 1 year. This is the end of the ME dominance on energy.

Good trump.


When does cheaper gas start?


Inflation is a sticky phenomenon on the retail side. Nobody wants to lower prices on inventory they have forecast and brought in at projected hogher prices until demand drops or competitive price drops really set in, so the retailers hold onto prices to test the elasticity for a while, in a sort of brinksmanship game over market share.

All it takes is for one gas station on the corner to lower their prices and others follow. Rinse, repeat.
The left cannot kill the Spirit of Charlie Kirk.
No Spin Ag
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techno-ag said:

MouthBQ98 said:

samurai_science said:

redsquirrelAG said:

We will be the energy king within 1 year. This is the end of the ME dominance on energy.

Good trump.


When does cheaper gas start?


Inflation is a sticky phenomenon on the retail side. Nobody wants to lower prices on inventory they have forecast and brought in at projected hogher prices until demand drops or competitive price drops really set in, so the retailers hold onto prices to test the elasticity for a while, in a sort of brinksmanship game over market share.

All it takes is for one gas station on the corner to lower their prices and others follow. Rinse, repeat.


Now for one of them to actually do it.

Should we hold our breath to help it happen before the war is over so prices go back down to where they were before the first strike?
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
techno-ag
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No Spin Ag said:

techno-ag said:

MouthBQ98 said:

samurai_science said:

redsquirrelAG said:

We will be the energy king within 1 year. This is the end of the ME dominance on energy.

Good trump.


When does cheaper gas start?


Inflation is a sticky phenomenon on the retail side. Nobody wants to lower prices on inventory they have forecast and brought in at projected hogher prices until demand drops or competitive price drops really set in, so the retailers hold onto prices to test the elasticity for a while, in a sort of brinksmanship game over market share.

All it takes is for one gas station on the corner to lower their prices and others follow. Rinse, repeat.


Now for one of them to actually do it.

Should we hold our breath to help it happen before the war is over so prices go back down to where they were before the first strike?
You typically see it where three or more stations are within easy distance of one another. It'll happen eventually. As of right now we're just back at Biden prices.
The left cannot kill the Spirit of Charlie Kirk.
Equinox
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Had to make another trip to Lubbock today. Filled up there for $3.14. After I left I saw another place that had it for $3.05.

$3.49 in Brownfield.

$3.29 in Seminole.

$4.14 in Odessa. Why? I've never understood why it's higher in Midland and Odessa than everywhere else.
ErnestEndeavor
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Hoping we see a negotiation breakthrough before the US and Israel carry out the promised strikes on Iranian energy infrastructure.

Iranian attacks around the gulf have mostly been pot shots but there's no way they would not respond with the largest salvo they can muster against everything in the region. If that happens and we see huge disruption to oil fields in Saudi Arabia and big hits to infrastructure elsewhere there's no telling what's going to happen to prices.

The Houthis still haven't done much but they are capable of causing significant disruption in the Bab al Madab strait. They can also strike the bypass pipeline to the Red Sea currently feeding millions of barrels a day into the system.

Choking off both points simultaneously would be insanely bad for the global economy.
techno-ag
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Equinox said:

Had to make another trip to Lubbock today. Filled up there for $3.14. After I left I saw another place that had it for $3.05.

$3.49 in Brownfield.

$3.29 in Seminole.

$4.14 in Odessa. Why? I've never understood why it's higher in Midland and Odessa than everywhere else.
Middle of nowhere?
The left cannot kill the Spirit of Charlie Kirk.
BadMoonRisin
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AG
Florida Man had a plan
Equinox
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techno-ag said:

Equinox said:

Had to make another trip to Lubbock today. Filled up there for $3.14. After I left I saw another place that had it for $3.05.

$3.49 in Brownfield.

$3.29 in Seminole.

$4.14 in Odessa. Why? I've never understood why it's higher in Midland and Odessa than everywhere else.

Middle of nowhere?

All of the places I listed are the middle of nowhere. Meanwhile, Midland-Odessa is arguably the epicenter of the oil busness.
techno-ag
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Equinox said:

techno-ag said:

Equinox said:

Had to make another trip to Lubbock today. Filled up there for $3.14. After I left I saw another place that had it for $3.05.

$3.49 in Brownfield.

$3.29 in Seminole.

$4.14 in Odessa. Why? I've never understood why it's higher in Midland and Odessa than everywhere else.

Middle of nowhere?

All of the places I listed are the middle of nowhere. Meanwhile, Midland-Odessa is arguably the epicenter of the oil busness.
It's just a very special middle of nowhere I guess.
The left cannot kill the Spirit of Charlie Kirk.
ErnestEndeavor
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This is not good.

docb
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AG
What a mess. I'm guessing we will see record fuel prices soon. Hope I am wrong.
ErnestEndeavor
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docb said:

What a mess. I'm guessing we will see record fuel prices soon. Hope I am wrong.


The most I ever paid for gas in Texas was just over $4 summer 2008. In today's dollars that would be $5.98. Hopefully we don't get there.

Not as worried about gasoline as I am diesel. That's going to cause everything else to be more expensive.

And we will have it relatively good compared to the rest of the world. Asia/Pacific and parts of Europe are going to be really rough.
docb
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My diesel truck. Hard to believe this was around $85 to fill up just a month ago.
EFR
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It ok though, you are just paying a couple bucks extra to make the world a safer place is what I have learned here today. Think of it like buying war bonds, except the money doesn't actually go to fighting the war.
Secolobo
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BadMoonRisin said:

Florida Man had a plan


Did I miss what the issue is?
docb
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EFR said:

It ok though, you are just paying a couple bucks extra to make the world a safer place is what I have learned here today. Think of it like buying war bonds, except the money doesn't actually go to fighting the war.

That's the hope for sure
MattAg84
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Equinox said:

techno-ag said:

Equinox said:

Had to make another trip to Lubbock today. Filled up there for $3.14. After I left I saw another place that had it for $3.05.

$3.49 in Brownfield.

$3.29 in Seminole.

$4.14 in Odessa. Why? I've never understood why it's higher in Midland and Odessa than everywhere else.

Middle of nowhere?

All of the places I listed are the middle of nowhere. Meanwhile, Midland-Odessa is arguably the epicenter of the oil busness.

Still gotta be refined somewhere and that place ain't Middle of nowhere Odessa
C/O 2007
Deerdude
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Diesel at truck Stops on 35 near Laredo showing $6.49. Meanwhile, this little gas station in Encinal I paid $5.09.
Equinox
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MattAg84 said:

Equinox said:

techno-ag said:

Equinox said:

Had to make another trip to Lubbock today. Filled up there for $3.14. After I left I saw another place that had it for $3.05.

$3.49 in Brownfield.

$3.29 in Seminole.

$4.14 in Odessa. Why? I've never understood why it's higher in Midland and Odessa than everywhere else.

Middle of nowhere?

All of the places I listed are the middle of nowhere. Meanwhile, Midland-Odessa is arguably the epicenter of the oil busness.

Still gotta be refined somewhere and that place ain't Middle of nowhere Odessa

Understood, but Seminole and Brownfield are even farther in the sticks. And not on an interstate.

Here's what Google AI says-

"
  • High Demand & Logistics: As the hub of the Permian Basin, the area has immense demand for fuel for heavy machinery, trucks, and commuters. The high volume, coupled with transport costs, can lead to higher prices."
Rossticus
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EFR said:

It ok though, you are just paying a couple bucks extra to make the world a safer place is what I have learned here today. Think of it like buying war bonds, except the money doesn't actually go to fighting the war.


BrazosDog02
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Rossticus said:

EFR said:

It ok though, you are just paying a couple bucks extra to make the world a safer place is what I have learned here today. Think of it like buying war bonds, except the money doesn't actually go to fighting the war.





lol
No Spin Ag
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EFR said:

It ok though, you are just paying a couple bucks extra to make the world a safer place is what I have learned here today. Think of it like buying war bonds, except the money doesn't actually go to fighting the war.


Just as important, IMO, is that paying more for gas also goes to helping free Iranians from the tyranny they've lived under for half a century. The people being able to live freely is worth the few bucks.

Then, as Trump has said, all increased prices will go back down once the objectives have been met.

Now for those objectives to be accomplished ASAP.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
MouthBQ98
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Equinox said:

Had to make another trip to Lubbock today. Filled up there for $3.14. After I left I saw another place that had it for $3.05.

$3.49 in Brownfield.

$3.29 in Seminole.

$4.14 in Odessa. Why? I've never understood why it's higher in Midland and Odessa than everywhere else.


The drill oil there. They refine it hundreds of miles away. They then ship back gasoline and diesel by truck to an area with a LOT of thirsty trucks, drivers with expense accounts, and oilfield hands with nothing to do but spend overtime money.
 
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