Current Spike in Gas Prices

[Casa Escarlata Robles Too]

A couple nights ago I heard a report that the US is the largest oil producer in the world.
I just checked this out.Seems the rank is US,Saudi Arabia, Russia.
We produce about 12 million barrels a day with Russia at about 8 million.
Just saying here.
Oil is traded as a commodity so people who don't even touch the oil set the price.

There is a lot to the price of oil/gas.
I even blame the oil companies. myself , mainly when they post the huge profits it just
seems wrong that the price at the pump is so high.
Here's a thought maybe the US oil companies pumping oil from our soil give our country a discount.

Oh well just try to conserve your gas usage for the most important trips.
Frank

 

[AWG_Pics]

Oil companies are free-market capital driven entities. They do not watch Biden or Putin, nor the King of Saudi Arabia. They watch each other. They are in competition, trying to sell as much of their product as possible for whatever the market will bear. They are not intrinsically evil or good. They are for-profit entities that will only drop prices when another significant oil company drops their prices. We set them up that way (the collective we, going back a hundred years or more.)

It is not really any more than 'making hay while the sun shines' and 'hunkering down when times are tough'. They make money while they can, and when profits are high, like now, begin to invest in new prospects, which may take a couple of decades to pay off. When the price of oil falls, they cut back, lay people off and weather out the storm, if possible.

If consumers cut back significantly on buying gas and diesel, soon thereafter the prices would fall.

Meanwhile, people like me that do not consider fuel cost as a major impediment to my travel plans, ought not to complain.

 

[Casa Escarlata Robles Too]

Nicely said AWG.
Frank

 

[MarkBC]

For me, paying these high gas prices is kind of exotic and exciting!
It's like taking a driving tour of Europe without having to wear a mask for 12 hours to get there!

 

[ski3pin]

For me, paying these high gas prices is kind of exotic and exciting!
It's like taking a driving tour of Europe without having to wear a mask for 12 hours to get there!

Mr. BC, I will from now on think of you as Mr. Silver Lining. Thanks Mark!

 

[Casa Escarlata Robles Too]

For me, paying these high gas prices is kind of exotic and exciting!
It's like taking a driving tour of Europe without having to wear a mask for 12 hours to get there!

I don't know Mark.I still enjoy my visits with my daughter in Barcelona,over fighting some of the idiots in our country.

IMO 12 hours on a plane isn't that bad,for the European lifestyle.
Frank

 

[ski3pin]

Mr. BC, I will from now on think of you as Mr. Silver Lining. Thanks Mark!

MarkBC has turned me around and I'll also look for the silver lining. After 2 years of crowded backcountry and disgusting behaviors, perhaps the high prices will keep people out of the woods. I can hope.

 

[MarkBC]

Mr. BC, I will from now on think of you as Mr. Silver Lining. Thanks Mark!

MarkBC has turned me around and I'll also look for the silver lining. After 2 years of crowded backcountry and disgusting behaviors, perhaps the high prices will keep people out of the woods. I can hope.

Mr. 3pin, I'm glad I could be a beacon of hope in our current dark despair.
I'm thinking that on my next winter wander...instead of traveling from place to place just to paddle my kayak, maybe I'll put on what used to be called "camp meetings", as an inspirational speaker. "Hear the good news of Neorationalism!"

 

[AWG_Pics]

I really do love you guys! I mean it. Right now I feel good about high gas prices. Thanks friends!

 

[Lighthawk]

"Hear the good news of Neorationalism!"

Like Tony, I also love this board and it's neorational members!

 

[Casa Escarlata Robles Too]

"Gas prices are so high,I just saw Dolly Parton carpooling with Jolene"
Frank

 

[Foy]

Like Tony, I also love this board and it's neorational members!

I'm happy to add a "me, too" to Lighthawk's comment. While I don't always agree with the opinions of every WTW regular, I am convinced that each is a pretty dang bright and thoughtful individual so I need not always agree in order to listen to and respect their views when different than my own.
My late father, an engineer turned CPA (much like my own geologist to CPA career path), used to tell my sisters and I to "spend as much time as you can with people smarter than you, and as little time as you must among people not as smart as you". I feel like I'm heeding his advice with the regular and robust exchange of ideas here on WTW.
Best regards to all,
Foy

 

[JaSAn]

Fills the last 3 months, same station, White Bear Township, MN:
April 2 - $3.80/gallon
May 6 - $3.90/gallon
June 7 - $4.69/gallon

 

[craig333]

I love reading posts from people smarter than I. This post could easily break the rules on political posts. Very happy to see that hasn't happened.

 

[Foy]

I love reading posts from people smarter than I. This post could easily break the rules on political posts. Very happy to see that hasn't happened.

I respectfully suggest a discussion about fuel prices, including driving forces behind fuel prices, is in the mainstream of WTW group interests.

I'm also reminded of another favorite saying from my father. "When two people agree all of the time, one of them is doing all the thinking".

Foy

 

[Mighty Dodge Ram]

$6/gal is the lowest found in Camarillo. I was going to sell my ‘05 Element, didn’t think we needed 3 vehicles. Even though it only gets around 20 +/- mpg it beats the 20-year old GM 6.0 in the truck. I’m thinking I’ll hang onto it for awhile as our “around town car”. The annual savings exceeds the cost of insurance, etc.

 

[Casa Escarlata Robles Too]

I love reading posts from people smarter than I. This post could easily break the rules on political posts. Very happy to see that hasn't happened.

Yes Craig this thread could very easily get nasty/political.
Glad to see the great minds at work being civil.

In the long run there isn't any one reason/answer for the increased price in energy.
It's not just a US issue it's a global one.

Frank

 

[craig333]

I just hope I get my truck back in time to purchase some $7 fuel!

 

[PaulT]

I just hope I get my truck back in time to purchase some $7 fuel!

Oh, that should happen. As the price falls from $10, to $9, to $8, to $7. That is, if we are lucky and nothing else bad happens to kick it higher.

Paul
ps. Sorry. Not feeling very optimistic at present.

 

[ski3pin]

MarkBC has turned me around and I'll also look for the silver lining. After 2 years of crowded backcountry and disgusting behaviors, perhaps the high prices will keep people out of the woods. I can hope.

Continuing our new found "silver lining" approach, Julie and I have decided now is the best time to get out on trips before the prices really get high.