Oil companies have no fear it seems

[bowhuntingw]

Gas is climbing .20-.25 a day this week. I’m sure it’s because of all of that demand they talk about. Roads and gas stations here are getting thinned out a bit. People are fixing to start making bad decisions and doing things they shouldn’t if this doesn’t stop. There shouldn’t be one blue seat in congress after midterms but I’m sure it will be a nail biter because of the next timely pandemic or stimulus buyout for votes.

[Gumbo Man]

I don’t know about the oil companies but the Biden administration is telegraphing their plan quite obviously. Let gas continue to rise. In September they strike a deal with oil companies to drive gas prices down. Also in September stimulus checks go out…….again. In October Biden gets on the stump and says “We have driven gas prices down at a record pace and put money in Americans pockets. Don’t forget who has done this for you when you go to the polls in November”.

[bowhuntingw]

Your probably 100% correct on the plan. I don’t see how we’ll ever get the infection out of our government.

[S-3 Ranch]

To bad the election is in November and not January or February, gonna be lots of POed folks
Paying some stiff utility and fuel costs to heat houses this coming winter

[Encinal]

What do the current oil prices have to do with oil companies?

[3rdCoastHunter]

Originally Posted by Encinal

What do the current oil prices have to do with oil companies?

Lol
Nothing

[trophy8]

Originally Posted by Encinal

What do the current oil prices have to do with oil companies?

Curious on this myself.

[bboswell]

Yet Biden released info today claiming more people have returned to work and more people are contributing to savings under his admin than ever before….

[OldRiverRat]

Originally Posted by bboswell

Yet Biden released info today claiming more people have returned to work and more people are contributing to savings under his admin than ever before….

While at the same time the msm is reporting that something like 40% of those with an income of $250k year are living paycheck to paycheck
And lots of companies telegraphing layoffs are coming including Tesla saying 10%


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[HogHunter34]

Originally Posted by bboswell

Yet Biden released info today claiming more people have returned to work and more people are contributing to savings under his admin than ever before….

Yeah I ain’t buying it
Prior to inflation savings rates were not high & pretty high % middle income live paycheck to paycheck & now they are paying much more for food, gas, vehicles, housing, property tax, insurance premiums with pay level not increasing at cost of living rates but somehow are contributing more to savings

[Mudslinger]

Originally Posted by bboswell

Yet Biden released info today claiming more people have returned to work and more people are contributing to savings under his admin than ever before….

Both lies and have been verified as such!

[BRUTE 23]

I know O&G companies are trying to make up for the beating they took in the shale plays the last decade but they are walking a very fine line. High fuel and energy along with inflation could send us into a full on depression and that would not be good for their commodity prices.

A little more production to bring us in the $80-100 range would sure help stabilize things and be a big relief for a lot of people.

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[texasdeerhunter]

Originally Posted by Mudslinger

Both lies and have been verified as such!

Yep. You can’t take anything this administration says as “truth”

[trophy8]

Originally Posted by BRUTE 23

I know O&G companies are trying to make up for the beating they took in the shale plays the last decade but they are walking a very fine line. High fuel and energy along with inflation could send us into a full on depression and that would not be good for their commodity prices.

A little more production to bring us in the $80-100 range would sure help stabilize things and be a big relief for a lot of people.

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Can’t find parts or people to keep up with the demand. And then there’s the risk on the government cracking down on them. Can’t blame them a bit for being cautious.

[slayr]

Originally Posted by Encinal

What do the current oil prices have to do with oil companies?

Originally Posted by 3rdCoastHunter

Lol
Nothing

Exactly!

If oil companies could set the price, would there ever be down turns on the oil and gas industry?

[BRUTE 23]

Originally Posted by trophy8

Can’t find parts or people to keep up with the demand. And then there’s the risk on the government cracking down on them. Can’t blame them a bit for being cautious.

No doubt. That is what the guys I talk to keep telling me. The money doesn't trust that prices don't go bust again in the near future.

When the govt will shut down a whole country on a whim, who would want to invest their money in a business?

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[dosrobles]

If you make 250k and live pay check to pay check you did it to yourself

[ttaxidermy]

Originally Posted by dosrobles

If you make 250k and live pay check to pay check you did it to yourself

It seems to be the new norm.... Like an elderly gentleman told me the other day "its that new money"..

[Bayouboy]

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.

[CoolHandLuke]

Originally Posted by bboswell

Yet Biden released info today claiming more people have returned to work and more people are contributing to savings under his admin than ever before….

Biden and his admin have zero real world knowledge or experience. The real economist are telling the truth and it’s not good. We will roll into a recession and this will correct itself. People are not saving because they can’t and more are living paycheck to paycheck.

How some people can believe his lies. More stupid people in this country than I thought.

[rtp]

Originally Posted by dosrobles

If you make 250k and live pay check to pay check you did it to yourself

250K aint what it used to be.

[flywise]

Originally Posted by dosrobles

If you make 250k and live pay check to pay check you did it to yourself

No doubt
I make half that and all I own on is my home.
I’d be in high cotton with an additional 100k

[TX03RUBI]

Originally Posted by rtp

250K aint what it used to be.

You’re correct, but it’s dam* sure enough to live on comfortably without burying yourself in debt.

[Gumbo Man]

Originally Posted by bboswell

Yet Biden released info today claiming more people have returned to work and more people are contributing to savings under his admin than ever before….

Yep I saw that. He is the Ron Burgandy of the White House. He will read ANYTHING on the teleprompter and believe it.

[Mike D]

Originally Posted by TX03RUBI

You’re correct, but it’s dam* sure enough to live on comfortably without burying yourself in debt.

This! But everybody has to have a new car, big house, $30k SxS, etc…..

Americans absolutely have done it to themselves.


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[Big pig]

Originally Posted by 3rdCoastHunter

Lol
Nothing

Strictly an administration failure.

[Big pig]

Originally Posted by Gumbo Man

Yep I saw that. He is the Ron Burgandy of the White House. He will read ANYTHING on the teleprompter and believe it.

Yep reads everything.
Believe it? He11, he really doesn’t know about anything going on at this point. Total puppet.

[dosrobles]

Originally Posted by rtp

250K aint what it used to be.

100% true. But it still doesn’t mean that’s anywhere close to sustenance wages.

[dosrobles]

Originally Posted by Mike D

This! But everybody has to have a new car, big house, $30k SxS, etc…..

Americans absolutely have done it to themselves.


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This country is a reflection of the idiots that have been running it for the last 30 years. We have put 3 kids through college and medical/graduate school and have some nice stuff but don’t have any debt.

No 100K vehicles, and limited vacations but we live pretty well. We save a little and pay cash for nearly everything. As it always has been, what you make is less important than what you spend

[Jon B]

It's getting rough. Pretty frustrating when you are steadily investing and at the end of the month the balance sheet is showing a loss.

[ttaxidermy]

Originally Posted by dosrobles

This country is a reflection of the idiots that have been running it for the last 30 years. We have put 3 kids through college and medical/graduate school and have some nice stuff but don’t have any debt.

No 100K vehicles, and limited vacations but we live pretty well. We save a little and pay cash for nearly everything. As it always has been, what you make is less important than what you spend

Nailed it........ All of what you said but especially what is in red...

[breadman]

its all part of there plan to take us to third world status and control . they want elite and poverty and nothing in between.

[RiverRat1]

Originally Posted by Bayouboy

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.

All I hear/see when reading this is even more free crap with the excuse of the poor people are freezing...while ignoring years of new iPhones, cars, and every luxury in history past that only rich people could afford.

Originally Posted by Jon B

It's getting rough. Pretty frustrating when you are steadily investing and at the end of the month the balance sheet is showing a loss.

100% it's just the workers paying for decades of handouts.

On the bright side if everything collapses hard people may learn again to work, save, and focus on important things (versus the BS now)

[DedDuk]

Originally Posted by RiverRat1

On the bright side if everything collapses hard people may learn again to work, save, and focus on important things (versus the BS now)

NO. Those doing good now will be doing good again. Those sucking the govt. teet will continue to suck.

[Greenheadless]

Originally Posted by DedDuk

NO. Those doing good now will be doing good again. Those sucking the govt. teet will continue to suck.

[Bayouboy]

[QUOTE=RiverRat1;16246324]All I hear/see when reading this is even more free crap with the excuse of the poor people are freezing...while ignoring years of new iPhones, cars, and every luxury in history past that only rich people could afford.


We shall see. I have never known of an oil company or refiner yet to show mercy, take iou’s, or work with the govt on anything unless it benefitted them. And, Uncle Sammy isn’t giving out any war stamps or welfare for gas.

[Huggybear]

We had 86% yoy!

[bowhuntingw]

I figure about August they will try to roll out another stimulus check to everyone and then “rage” a war on fuel prices to drive the price of gas down so that they can win votes by November.

[bphillips]

Originally Posted by rtp

250K aint what it used to be.

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 it’s really not a lot to get going right now. Housing is just crazy. New families will struggle a lot more than established

[Bayouboy]

Originally Posted by bowhuntingw

I figure about August they will try to roll out another stimulus check to everyone and then “rage” a war on fuel prices to drive the price of gas down so that they can win votes by November.

What are they going to do that would have an immediate effect? The only thing would be cutting state and federal tax on fuel. Since when has the govt agreed to do that? Continuation of pipelines and drilling does not happen overnight. The best thing energy companies can do right now is stick it to the govt and prove that their policies are terrible for the economy and Americans.

Voters brains may not vote. But, hopefully their wallets will.

[100%TtId]

US refining capacity throughput pre-covid was about 19 million bpd. Today it's about 17.

Prices aren't going down anytime soon without a major drop in demand. Biden can't solve this problem before the midterms outside of creating a major depression.

[bowhuntingw]

I call bs on increased demand. I’m already seeing a huge difference in travel where I live not to mention in the stores. I’ve 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. There’s not more people getting on the road when gas is 4.50 a gallon and diesel is over five dollars

[Drycreek3189]

Originally Posted by Mike D

This! But everybody has to have a new car, big house, $30k SxS, etc…..

Americans absolutely have done it to themselves.


Sent from my iPhone using Tapatalk Pro

No truer words were ever spoken !

[Drycreek3189]

Originally Posted by bowhuntingw

I call bs on increased demand. I’m already seeing a huge difference in travel where I live not to mention in the stores. I’ve 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. There’s not more people getting on the road when gas is 4.50 a gallon and diesel is over five dollars

I’ve noticed also in the last month that less folks are right up in my azz when I’m driving five mph under the speed limit.

[Bayouboy]

Much of that dip in output can be blamed on refinery closures such as the one near Houston, with the report noting that five facilities shuttered during 2021, including the Shell refinery in Convent, Louisiana. Other states that saw a refinery closure include New Mexico, California, North Dakota, and Wyoming.

Wait until the Lyondell refinery closes in Pasadena. That’s another big hit.
Hopefully someone buys it.

[HuntForHorns]

Originally Posted by bowhuntingw

I call bs on increased demand. I’m already seeing a huge difference in travel where I live not to mention in the stores. I’ve 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. There’s not more people getting on the road when gas is 4.50 a gallon and diesel is over five dollars

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.

[Colorado87]

Oil companies don’t set prices. Also because we are a capitalist country (at least somewhat) the market is not dependent on just US demand but world demand. With the Russia situation and China loosening restrictions the world market is under supplied and getting worse. Actually what is happening is you are seeing US oil companies displaying their fear. Every major I have talked to is planning slow growth. They are not ramping up to meet the market because the last few times they have done that the subsequent drop has killed them. They are practicing discipline so far. I’m the short term that will be painful. But if they hold to it we will all be better in the long term. Either way look for gas to be at least as high as it is for quite a while.


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[J-5]

Originally Posted by dosrobles

100% true. But it still doesn’t mean that’s anywhere close to sustenance wages.

I don’t make half of that, but everything is paid off. I don’t know your living arrangements, but $250 would be life changing for us. But, the way it is, we’re perfectly happy financially, other than all of the inflation issues.


Some may have a lot of blessings they don’t bother counting.

[Spoiled_TN_boy]

Originally Posted by OldRiverRat

$250k year are living paycheck to paycheck

Wow. What about the majority of the population that makes less than $100k a year with combined incomes?

Luckily we just refinanced our house and paid off all debt. With gas prices going up it'll be more cost effective to work at Jack in the Box down the street and ride a bicycle for $12hr than to drive into Austin for a real job.

[Landrover]

Folks are vacationing like crazy. Airports are packed and airlines are cancelling flights due to lack of labor, hotels running at 80 and 90 percent occupancy........already!!! My long term travel agency is NOT accepting any new clients at all. Any domestic vacations they have partnered with another travel agency as they dont have the time to fool with it. In the 1st quarter they have booked $5 million in sales.....that was there total in 2021!!!! Heck, I am hoping it slacks off as crowded beaches, monuments and airports suck......lol!

Originally Posted by DedDuk

NO. Those doing good now will be doing good again. Those sucking the govt. teet will continue to suck.

......pretty spot on!

Originally Posted by Bayouboy

What are they going to do that would have an immediate effect? The only thing would be cutting state and federal tax on fuel. Since when has the govt agreed to do that? Continuation of pipelines and drilling does not happen overnight. The best thing energy companies can do right now is stick it to the govt and prove that their policies are terrible for the economy and Americans.

Voters brains may not vote. But, hopefully their wallets will.

Bingeaux!!!! Odd how governors have not done away with the state tax on fuel to at least "act like" they really care about all of this. It is definitely a global issue that was not started in a vacuum.

Originally Posted by HuntForHorns

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.

Alas.......someone sees the big picture! Fuel at the gas station hurting your ability to go on vacation is the last thing that will move the needle.