I am not the one who claims to be smart. How am I supposed to know whether you passed economics? You do realize that economics and home economics are not the same thing, right?
You think GAS is HIGH
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Are you suggesting that we use our tax dollars to upgrade equipment for private oil companies? Or am I reading that wrong?
Understanding basic economics, you have to be completely retarded to think this is trumps fault. Or extreme denial. Day one of biden he put all of this into motion. Also if I remember correctly trump didn't want to shut economy down? Democrats were really pushing for it including brandon. We still shouldn't have. Suicide rate will surpass the death of covid by time brandons time is up.
What if we invested into our own country and built some refineries instead of paying hunters bar tab in the Ukraine?
Uh what would be better if our refineries were faster ie more efficient and not running at 94% capacity?
If they are in fact running at 94%... I know how much yall struggle with honest numbers...
.....buzz..buzz...
I will take "good things for 500 Alec"
You realize that none of us have a use for crude oil either imported or domestically produced. That oil has to be refined into gas, diesel, plastic, pharmaceuticals, gun powder and a plethora of other things. Therefore...."pay attention to this part it's pretty important"..... if our refineries are running at 94% and let's say just for simple math purposes that 94%=94gal......and we made each one of them 10% more efficient that would be like each one was running at 103.4% or making 103.4 gallons. Now we have 9.4 more gallons of gas or whatever on the market and prices will go down. And thats with just the oil from our STRATEGIC reserves.
Now if we were to build other pieces of oil infrastructure AND started producing more oil than we use instead of dipping our hands in our cookie jar that's not getting refilled because there is no longer a surplus....... it would be back to the way things were in 2020BP. BP stands for "before potato".
Back to economics 101... if demand stays the same.....and supply goes up.....what do we get?? I will tell you before you even have to ask me question....
You get a surplus of a commodity and therefore the price Goes down. Economics 101.
The reason oil dropped into the RED is because Russia and OPEC were having a PP contest and Russia flooded the world market with THEIR oil and trump tried to buy every drop he could for us to refill our strategic reserves for cheaper than we could produce it ourselves. That is also the reason why our domestic production slowed.
There was no reason to pump west texas crude "which is the BEST type of oil for fuel production IN THE WORLD" when countries like Russia were paying us to come get their oil. Why take out of our cookie jar when we can get cheaper cookies somewhere else.
Now even the government has to pay for oil even if it's produced domestically. And the reason they do it its to protect us so that we keep paying taxes.
By the way ..... our strategic oil reserves are in giant underground salt domes down in south east Texas. They are not in a tank above ground somewhere....for the most part. AND they are supposed to be used during times of war or natural disasters NOT to fluff up high gas prices due to incompetence in running a country or to sustain a nation with hopes of running everything off a battery.
Let's see how well this administration's "let them eat cake" attitude survives the midterms.
No on upgrading private business....but at this point I'd almost say yes! I was more talking about research and technology development not actually building a refinery for EXon. Investing in better oil technology public or private still makes more sense than subsidizing wind turbines that have a life span of about 5 years before the need of a complete overhaul.
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You do realize that economics is economics right? Home economics wasn't just cooking and sewing. They also taught kids how to balance a checkbook. How to budget finances week to week and month to month. Home economics would be considered micro economics today. And I know you know what micro means! While national level economics would be considered macroeconomics.
But yes I passed both home economics and economics 101,102, 201,202, 301, 302 and 303 but that was almost 20 years ago.
A coworker and myself had this discussion earlier this week.
What if the US government/citizens built and owned a new refinery. The refinery bought crude on the open market. Refined the crude and sold the gasoline or plastics or whatever back onto the market at a competitive price. Priority being domestic markets. Profits would be used to get National Healthcare and decrease the national debt ONLY. This would be ran by a board of ELECTED OFFICIALS let's say 5 members who had 2 year term limits but could be re elected 3 times max so 6 years service. The books would be open to the public. Maybe sell shares and those shares be available for private US citizens only. Maybe like an oil bond or something.
The idea came from the cities around here that have opened up city owned and operated water parks. Profits from the parks go into the city budget.
I said I don't trust the US government to run a sno-cone stand much less a billion dollar refinery. I also said big oil wouldn't allow it. I also said the greed new deal...I mean green new deal folks wouldn't vote for it.
Thoughts?
Frank in the Laurels
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Yeah, the ones that are operating might be at 94% but why are the rest just sitting there at 0% !!! At least 4 are sitting idle....don't blame the Russians either, we got approximately 5.6% and none was used for gasoline only plastics and industrial chemicals....they are making a ton of profits, funny I can buy all I want if I want to pay for it, an amazing shortage....
While the government takes over the refining business, why don't they just go ahead and take over the oil business as well.
You have some that were shut down during the pandemic along with oil wells. I think there is still one in Louisiana that is partially shut down because of a hurricane and there are some in Texas that got shut down by the winter storm that are either not running or not at full capacity. It's not the government's responsibility to get them open and they are not preventing them from opening unless of course we want them to but that would be socialism which is what Duckman seems to be suggesting. All other oil producers are government controlled and their gas prices are not nearly as bad as ours so why not. Oil companies don't want to invest in them especially now because they took a major financial hit during the pandemic and they are not wanting to invest because of the uncertainty of the future of fossil fuels which I think is silly because regardless of how hard we try, fossil fuels will be around another 100 years but with things like California announcing they went 100% renewable for even a day or two and other countries around the world reducing their usage due to climate change and even China has plans to be carbon free in the future, oil companies are reluctant to invest. People keep saying its all Biden but oil companies are not that stupid. They know he is temporary. Biden will be in office another 2 years. I seriously doubt he will seek re-election. He did not want to run this time. People keep thinking that as soon as he leaves office, gas will go back to what it was when Trump was in office. In order for that to happen, they should be investing now because it will take time before it takes effect and it will hurt the republicans if gas prices don't drop and if and when that happens, people are going to take renewables far more seriously. Oil companies are digging their own graves. If they don't keep the price cheap, people will wean off of it.
My God Man!!!! Thats socialism!!!!!
Are we just going to ignore biden has said he will end use of fossil fuels, high gas prices are growing pains necessary to go to green energy. Shut down pipeline day 1. You think oil companies are going to spend money with a *** hat like biden in office.
Actually, one has to be really ignorant or misinformed and not very bright to think this was not the direct result of the pandemic and the economy being shut down for over a year. There is not an economist that would say otherwise. Biden held no office and Republicans controlled the senate and the presidency. No one forced them to do anything. The pandemic caused major supply chain issues and combined with the handouts which put money in the hands of people to spend caused inflation. Demand exceeded supply. As for the handouts, you have to decide which is worse, inflation caused by the handouts or a large percentage of the country losing their homes which would have had major economic repercussions as well. It would be great for people who have money and wanted to buy a house cheap.
Its a good thing he shut down the pipeline day one. They were going to ship some of that oil to our refineries to make diesel to ship overseas. Our refineries are at full capacity. It would have driven gas prices up.
