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Old 06-04-2022, 07:51 PM   #51
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Originally Posted by bowhuntingw View Post
I call bs on increased demand. Iím already seeing a huge difference in travel where I live not to mention in the stores. Iíve watched gas go up $.50-$.60 per gallon this week and one place I watched it go at $.50 today alone. I was on the lake earlier today and it was dead out there. Thereís not more people getting on the road when gas is 4.50 a gallon and diesel is over five dollars

Itís not just domestic demand


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Old 06-04-2022, 07:56 PM   #52
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This is especially true for those trying to get their lives going and buying homes and vehicles for the first time. Sure 250k is a lot to those who already have homes at old valuations but itís really not a lot to get going right now. Housing is just crazy. New families will struggle a lot more than established
I have to wholeheartedly disagree with that. My wife and I saved for two years on a household income of $80k and bought our first house about 10 years ago. Had to finance one vehicle in the past decade but paid it off early. If you canít figure things out with 3X that income youíre doing something incredibly wrong, even in the current atmosphere.
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Old 06-04-2022, 07:59 PM   #53
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I have to wholeheartedly disagree with that. My wife and I saved for two years on a household income of $80k and bought our first house about 10 years ago. Had to finance one vehicle in the past decade but paid it off early. If you can’t figure things out with 3X that income you’re doing something incredibly wrong, even in the current atmosphere.
No offense man but you are talking about 10 years ago, the price of housing sky rocketed 2 years ago

Although I do agree that those saying “250 isn’t what it used to be” still make a **** load more than most people.
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Old 06-04-2022, 08:01 PM   #54
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I have to wholeheartedly disagree with that. My wife and I saved for two years on a household income of $80k and bought our first house about 10 years ago. Had to finance one vehicle in the past decade but paid it off early. If you canít figure things out with 3X that income youíre doing something incredibly wrong, even in the current atmosphere.
Iím not hurting by any stretch. And have an established home etc. But youíre crazy if you donít see this current market hindering folks abilities. My wife and I bought 10-11 years ago as well. Houses have more than doubled in price. Cars and everything else as well. I donít think he meant folks making 250k are having a hard time getting started. Because most just getting started arenít making that.

Median home prices of 3-400k and offers going well above ask and appraisal make it near impossible for the vast majority of first time home buyers. Sad state of affairs
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Old 06-04-2022, 09:03 PM   #55
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I donít make half of that, but everything is paid off. I donít know your living arrangements, but $250 would be life changing for us. But, the way it is, weíre perfectly happy financially, other than all of the inflation issues.


Some may have a lot of blessings they donít bother counting.
I think we are saying the same thing. I just didnít make
My point well. If youíre making 250k and living check to check itís 100% your own fault.
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Old 06-04-2022, 09:13 PM   #56
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I think we are saying the same thing. I just didnít make
My point well. If youíre making 250k and living check to check itís 100% your own fault.
Bingo.
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Old 06-04-2022, 09:18 PM   #57
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I think we are saying the same thing. I just didnít make
My point well. If youíre making 250k and living check to check itís 100% your own fault.
Agreed 1000000%
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Old 06-04-2022, 09:24 PM   #58
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Old 06-05-2022, 10:13 AM   #59
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I have to wholeheartedly disagree with that. My wife and I saved for two years on a household income of $80k and bought our first house about 10 years ago. Had to finance one vehicle in the past decade but paid it off early. If you can’t figure things out with 3X that income you’re doing something incredibly wrong, even in the current atmosphere.
And if you tried to do that now? You would be able to afford half. Same for someone at 250 it goes about half as far. Yea 125k is still good but it’s a completely different lifestyle especially with kids.

Obviously it’s their own fault but for that to change so much in the last 2 years is crazy. That person could have been saving 5k+ per month and now that has disappeared with no changes

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Old 06-05-2022, 12:25 PM   #60
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I think we are saying the same thing. I just didnít make
My point well. If youíre making 250k and living check to check itís 100% your own fault.
I agree it blows my mind someone lives paycheck to paycheck on 250k a year.
I make a little over half that and have all the things to live high on the hog. House is 5 years old and paid for 2020 truck paid for 2018 boat paid for.. etc . Trick Is to buy one thing and pay it off before you buy anything else.. I started doing that at 20 . By 40 I could pretty much pay cash for what I wanted. I usually finance and pay it off early since the interest rates have been so low the past 10 years. It's ok to sit at home and not go out to eat every night until you can afford it..
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Old 06-05-2022, 01:45 PM   #61
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This is especially true for those trying to get their lives going and buying homes and vehicles for the first time. Sure 250k is a lot to those who already have homes at old valuations but itís really not a lot to get going right now. Housing is just crazy. New families will struggle a lot more than established

$250,000 a year is almost a gross of $21,000 a month. If you canít but a house and establish a family on that right now then youíre doing it wrong. My guess is that 80%(Probably higher) of the members on this site donít have a household income of $250K a year.


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Old 06-05-2022, 02:15 PM   #62
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$250,000 a year is almost a gross of $21,000 a month. If you canít but a house and establish a family on that right now then youíre doing it wrong. My guess is that 80%(Probably higher) of the members on this site donít have a household income of $250K a year.


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Understand what youíre saying, but letís take 20% of that for 401k, then take taxes from that amount (higher tax bracket, too), then take insuranceÖ.the net amount is much less lucrative than you originally think.
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Old 06-05-2022, 02:18 PM   #63
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Understand what youíre saying, but letís take 20% of that for 401k, then take taxes from that amount (higher tax bracket, too), then take insuranceÖ.the net amount is much less lucrative than you originally think.
You could say the same (minus tax bracket) for a wide range of incomes
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Old 06-05-2022, 02:22 PM   #64
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No offense man but you are talking about 10 years ago, the price of housing sky rocketed 2 years ago

Although I do agree that those saying “250 isn’t what it used to be” still make a **** load more than most people.
Oh it can be done but you'll have to let the Jones's run off and leave you and be OK with it..
I'm old enough to remember when a "starter home" was 750-1100 sq. feet and a new vehicle for young newly wed couple was the most basic vehicle on the lot..

Today that is 2500-3000 sq ft and both are driving 70k-90k vehicles... The amount of debt people are comfortable living in these days is interesting to say the least. Its definitely the new trend.

My wife is a broker.. I see it weekly.
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Old 06-05-2022, 02:26 PM   #65
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Oh it can be done but you'll have to let the Jones's run off and leave you and be OK with it..
I'm old enough to remember when a "starter home" was 750-1100 sq. feet and a new vehicle for young newly wed couple was the most basic vehicle on the lot..

Today that is 2500-3000 sq ft and both are driving 70k-90k vehicles... The amount of debt people are comfortable living in these days is interesting to say the least. Its definitely the new trend.

My wife is a broker.. I see it weekly.
Right. I agree that if you’re paycheck to paycheck at 250k it’s your own fault, I’m just saying 250k annually is a **** load more money than most households bring in.
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Old 06-05-2022, 02:29 PM   #66
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You are thinking inside your little box. The increased demand in the US is from exports to countries that were supplied by Russia.

I think the biggest misconception people have about oil companies is that they make their money selling gasoline and diesel to the end users on the street.

Oil companies make a majority of their profits from exploration/drilling and refining margins.

While the marketing arm is set up to make money, it is mostly used to help move product so they can refine more.
This fellow has been in or around refineries.
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Old 06-05-2022, 02:29 PM   #67
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Right. I agree that if youíre paycheck to paycheck at 250k itís your own fault, Iím just saying 250k annually is a **** load more money than most households bring in.
For sure..
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Old 06-05-2022, 02:30 PM   #68
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$250,000 a year is almost a gross of $21,000 a month. If you canít but a house and establish a family on that right now then youíre doing it wrong. My guess is that 80%(Probably higher) of the members on this site donít have a household income of $250K a year.


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Iím with you on this. Letís say they net 15k a month, thatís is still a great sum of money monthly. The problem is everyone that makes 250k a year thinks they have to live in a 500-700k home and drive 80k cars and trucks.

They are living beyond their means or just have no idea how to budget.


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Old 06-05-2022, 02:31 PM   #69
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Just wait until those folks up north get to pay for a load of heating oil.

There will be a lot of homes with very little heat with these prices in that part of the country.
And remember. When heating oil production starts going up the price of diesel and jet fuel increases due to their production going down.

Gonna be cold in Yankee country.
You have been in the refining business so long you probably pee black oil.
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Old 06-05-2022, 02:35 PM   #70
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This thread is very telling of today’s society……..
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Old 06-05-2022, 03:02 PM   #71
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I’m with you on this. Let’s say they net 15k a month, that’s is still a great sum of money monthly. The problem is everyone that makes 250k a year thinks they have to live in a 500-700k home and drive 80k cars and trucks.

They are living beyond their means or just have no idea how to budget.


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The problem with those new to that money though is housing cost (and everything else). Developers do not build the small starter homes much anymore so there just isn’t cheaper ones to buy often. We built 8 years ago and could sell for almost double what we have in ours. Easily done with 250k then but would have to struggle for the same today. Wages have not gone up much at all in that time. Any of us who are established can agree it’s a lot of money but for those who are not it really won’t go as far for them
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Old 06-05-2022, 03:14 PM   #72
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$250,000 a year is almost a gross of $21,000 a month. If you can’t but a house and establish a family on that right now then you’re doing it wrong. My guess is that 80%(Probably higher) of the members on this site don’t have a household income of $250K a year.


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80% probably aren’t first time buyers either like those I’m referencing. To those established it should still be a lot. I promise I know how far that will go yesterday and today. It’s changed A LOT

It’s honestly kinda depressing to know what new families looking for their first home are looking at who make 100k/year. That money should go a lot farther than it is

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Old 06-05-2022, 03:22 PM   #73
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Understand what youíre saying, but letís take 20% of that for 401k, then take taxes from that amount (higher tax bracket, too), then take insuranceÖ.the net amount is much less lucrative than you originally think.

I know exactly how lucrative it is. You are arguing that $250K a year is hard to live on. Itís very easy to live on with a family of 5 and save a lot of money.


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Old 06-05-2022, 03:28 PM   #74
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I’m with you on this. Let’s say they net 15k a month, that’s is still a great sum of money monthly. The problem is everyone that makes 250k a year thinks they have to live in a 500-700k home and drive 80k cars and trucks.

They are living beyond their means or just have no idea how to budget.


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BINGO and then when there is the slightest blip on the radar screen such as a simple property tax increase, which will never be avoided, its game over and FOR SALE signs go up... I can honestly see why divorce rates are so high these days... Financial stress is a marriage killer..
People are fighting over homes the day they hit the market down here and some are paying WAAAY over asking price and actual appraisal values, even though they are advised that is not a wise business move.. Its absolutely insane. When the correction happens, and it will, many will be upside down... THEY DO NOT CARE..

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Old 06-05-2022, 03:35 PM   #75
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If a household has a 250k income and are struggling, then that household has a lot of stupid it in. I dont care if its old money or new money.
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Old 06-05-2022, 03:36 PM   #76
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BINGO and then when there is the slightest blip on the radar screen such as a simple property tax increase, which will never be avoided, its game over and FOR SALE signs go up... I can honestly see why divorce rates are so high these days... Financial stress is a marriage killer..
People are fighting over homes the day they hit the market down here and some are paying WAAAY over asking price and actual appraisal values, even though they are advised that is not a wise business move.. Its absolutely insane. When the correction happens, and it will, many will be upside down... THEY DO NOT CARE..
Thatís buy time lol. Too bad ranch values wonít crash with them haha
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Old 06-05-2022, 03:43 PM   #77
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You have been in the refining business so long you probably pee black oil.


Some folks just donít get it. They will argue with a **** mirror.

Our ten refineries are operating at 104% as of Friday. Anyone that thinks refineries are slow rolling are crazy. The hilarious part is when I told folks to buy refining stock during covid just ignored me. I bought 10,000 more shares in the 20ís. It is now $105.62. Yep, even an old coonie saw this coming
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Old 06-05-2022, 03:52 PM   #78
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Some folks just donít get it. They will argue with a **** mirror.

Our ten refineries are operating at 104% as of Friday. Anyone that thinks refineries are slow rolling are crazy. The hilarious part is when I told folks to buy refining stock during covid just ignored me. I bought 10,000 more shares in the 20ís. It is now $105.62. Yep, even an old coonie saw this coming
Certainly not arguing with you but help educate me. How do you operate at over 100%?
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Old 06-05-2022, 04:01 PM   #79
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We are living in a recession right now, they have not reported it yet. Wait for q2 gdp negative results. Next will be depression. You can think the democrats.
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Old 06-05-2022, 04:02 PM   #80
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Certainly not arguing with you but help educate me. How do you operate at over 100%?

Good question M16.

Letís say a refinery crude unit has a design capacity of 100K bpd. In times like these, they will push the limits and run 110K bpd. Just have to be on top of your game and optimize process chemicals and operating parameters to shove more through than the system was designed for.


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Old 06-05-2022, 04:04 PM   #81
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Certainly not arguing with you but help educate me. How do you operate at over 100%?

Good question M16.

Letís say a refinery crude unit has a design capacity of 100K bpd. In times like these, they will push the limits and run say 110K bpd for example. Just have to be on top of your game and optimize process chemicals and operating parameters to shove more through than the system was designed for.


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Old 06-05-2022, 04:06 PM   #82
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Default Oil companies have no fear it seems

:

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Old 06-05-2022, 04:07 PM   #83
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Old 06-05-2022, 04:11 PM   #84
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Thatís buy time lol. Too bad ranch values wonít crash with them haha
Yea raw land is a different animal.. If only I knew 20 years ago what I know now!!!!! Man O Man!!!!
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Old 06-05-2022, 04:12 PM   #85
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Yea raw land is a different animal.. If only I knew 20 years ago what I know now!!!!! Man O Man!!!!
For sure. Sure makes holding on to places tough.
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Old 06-05-2022, 04:30 PM   #86
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Some folks just donít get it. They will argue with a **** mirror.

Our ten refineries are operating at 104% as of Friday. Anyone that thinks refineries are slow rolling are crazy. The hilarious part is when I told folks to buy refining stock during covid just ignored me. I bought 10,000 more shares in the 20ís. It is now $105.62. Yep, even an old coonie saw this coming
You did well on the stock, congratulations. Hopefully it will get you closer to getting to east tx with the rest of us old ďpoorĒ refinery workers.
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Old 06-05-2022, 04:43 PM   #87
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Good question M16.

Letís say a refinery crude unit has a design capacity of 100K bpd. In times like these, they will push the limits and run say 110K bpd for example. Just have to be on top of your game and optimize process chemicals and operating parameters to shove more through than the system was designed for.


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Thanks for the explanation!
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Old 06-05-2022, 04:54 PM   #88
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$250,000 a year is almost a gross of $21,000 a month. If you canít but a house and establish a family on that right now then youíre doing it wrong. My guess is that 80%(Probably higher) of the members on this site donít have a household income of $250K a year.


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The numbers say 250K/annual puts you in about the top 7%.
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Old 06-05-2022, 05:34 PM   #89
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Understand what youíre saying, but letís take 20% of that for 401k, then take taxes from that amount (higher tax bracket, too), then take insuranceÖ.the net amount is much less lucrative than you originally think.

Exactly
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Old 06-05-2022, 06:12 PM   #90
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Yet Biden released info today claiming more people have returned to work and more people are contributing to savings under his admin than ever beforeÖ.

This is an example of the tail wagging the dog. Never mind that many retailers are closed during usual business hours or that restaurants are quoting enormous wait times even though 25% of their tables are empty. When what youíre seeing doesnít agree with what youíre being told youíre expected to discount the veracity of your eyesight. Absolutely crazy.
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Old 06-05-2022, 06:50 PM   #91
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You can’t fix stupid
Stupid people will always be stupid
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Old 06-05-2022, 06:52 PM   #92
Bayouboy
Pope & Young
 
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Join Date: Mar 2009
Location: League City
Hunt In: East Texas
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Quote:
Originally Posted by tps7742 View Post
You did well on the stock, congratulations. Hopefully it will get you closer to getting to east tx with the rest of us old ďpoorĒ refinery workers.
It certainly will. Coffee at the cafe every morning and harassing the waitress is looking better every day.
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