Forty six

[CIRF]

CIRF, oil was under $37 a barrel in January 2016. Rose to $58 later that year. Hit a high under the Trump administration June 2018 at $74. Muddled along from high 40s to around $60 per barrel until a year ago. With COVID it took a massive dip for 2020 which no one should blame Trump for, nor give him credit for. Nor the subsequent rebound in second half of 2020 to around $50 at year end, it now stands at $55. Could it go up? Definitely and I look for it to quite honestly. Trump supervised during an energy independence effort, good for him. Did he have much impact on prices? No, trends show it went up and down with or without his influence.

I'm working on memory now so I'll humbly recant if I'm mistaken on some details but I believe the Saudi's substantially upped their oil production in order to put the squeeze on Russia price-wise. The Russians had stolen a large share of the European market from Saudi Arabia and the Saudi's weren't happy. That artificial glut brought crude down to prices that put some domestic oil producers out of business and had a similar effect on Russian profitability and oil production, as well. That had lasting down market effect but when the Saudi's accomplished their goal of hurting Russia they once again went back to production levels that saw crude price go up again but DJT was President then. Problem was, domestic production was reduced due to some domestic suppliers going out of business, and Russia had taken a hit on production ability, too.

None of this situation was due to energy policies of hussein in his last months in office nor was it due to Donald Trumps energy policies in the opening months of his administration.

The fact is, hussein is/was/always will be a proponent of high gas prices in an attempt to discourage consumption. Donald Trump knew that a huge portion of the success of his economy was tied to our energy sector. DJT's emphasis on energy independence actually kept world wide crude prices relatively low. Just not as low as they were when Saudi Arabia was producing an artificial glut of crude.

I'll stand by my prediction of $3.50 gasoline and $4.00 diesel by this time next year. If those prices make you happy good for you, but they sure as he!! won't make me happy or maintain my profitability but joe and the ho don't give a $hit.

[Rajflyboy]

Hopefully no offspring created by that biological nightmare

[kazual]

High fuel prices won’t make me happy CIRF. There’s a mid ground where oil and gas exploration can continue without breaking the back of the American consumer and of small businesses. My point is there’s a lot of variables that impact gas and diesel prices. I’m not happy about the pipeline cancellation at all and I fear what a newfound priority to environmentalism could mean. But old Joe hasn’t impacted prices in just a few weeks, not yet at least.

[Barbecueboy]

You guys all predicted this and I said no way because there was too much fuel to be had....only way it would happen would be because of greed.

It's magic.

[ZERO25]

Ive heard many economists claim the US's oil prices are based on the speculative commodity prices of the stock market!

If so, obviously, speculating on Sleepy Dementia Joe's economic plans leads to higher prices! I cant be nice.....he's a MORON when it comes to economics! His past proves that!

[STRONGERTHANDIRT]

The squad owns him!

[CIRF]

Originally posted by kazual

But old Joe hasn’t impacted prices in just a few weeks, not yet at least.

I'm at a loss as to how you can be certain of what you say.

Crude oil, gasoline and diesel prices have gone crazy in reaction to a he!! of a lot less damaging news than a President and Congress that is very sympathetic to exorbitant energy prices and shutting down of a major pipeline project. Oil company's and speculators know full well they will never be held to account for price gouging by this administration and Congress. They also know that if the marxist wing of the democrat party can force the issue of high prices, they happily will.

[CIRF]

Ive heard many economists claim the US's oil prices are based on the speculative commodity prices of the stock market!

ZERO, crude oil, gasoline, diesel and any other mainstay commodities in the petroleum sector of the economy are heavily effected by futures speculators. These speculators manage investment funds that make a lot of money for themselves and their clients who are making short term investments. As much money can be made speculating that the petroleum commodities are going to go down as can be made when petro commodities go up. One of the differences is this, the prices come down much more slowly than they go up. In addition, the incremental changes of petro prices going up are much steeper than the increments in which they come down.

Crude, gasoline and diesel, etc., are traded very similar to how grain is traded. Fund managers use energy futures as investment tools for their clients the same as they use and play the stock market. Same concept, different commodities.

Bottom line is commodity speculators, brokers and their investor clients have a huge influence on commodity prices whether it be petroleum, grain, pork bellies, etc.

[TS FAN]

The whole Dem party are morons when it comes to the economy. Just Listen to Mr. Potato head when he said increasing taxes will create more jobs. Not one of the media lizards even questioned what he meant. I have no use for Dem nonsense and won't discuss it with any of them. If you don't stand for something you will fall for anything. Where have I heard that???

[Rajflyboy]

TS. We finally agree on somethin

[dirtMAN007]

the whole dem party are morons when it comes to the economy. Just listen to mr. Potato head when he said increasing taxes will create more jobs. Not one of the media lizards even questioned what he meant. I have no use for dem nonsense and won't discuss it with any of them. If you don't stand for something you will fall for anything. Where have i heard that???

alexander hamilton !

[Buford.Justice]

Gas was going up when Trump was still in office. A lot of commodities are going up. Dollar goes down commodities go up. With more car company going to electrical cars gas will go down. Supply and demand. Copper and silver prices will continue to raise because of the demand for electrical cars.

And I see you are still jealous of the union how sweet!!

You just think there is supply and demand. But it's just demand, authoritarian style.

[ZERO25]

ZERO, crude oil, gasoline, diesel and any other mainstay commodities in the petroleum sector of the economy are heavily effected by futures speculators. These speculators manage investment funds that make a lot of money for themselves and their clients who are making short term investments. As much money can be made speculating that the petroleum commodities are going to go down as can be made when petro commodities go up. One of the differences is this, the prices come down much more slowly than they go up. In addition, the incremental changes of petro prices going up are much steeper than the increments in which they come down.

Crude, gasoline and diesel, etc., are traded very similar to how grain is traded. Fund managers use energy futures as investment tools for their clients the same as they use and play the stock market. Same concept, different commodities.

Bottom line is commodity speculators, brokers and their investor clients have a huge influence on commodity prices whether it be petroleum, grain, pork bellies, etc.

Many years ago I did business with a group of farmers that "played" in the cotton futures market. One of them married into a large farming family that owned the local airstrip for spraying and the gin as well. They met every morning at the gin and kept a big screen tv running showing the futures market.

If I walked in and they were laughing and ranking on each other, they just made a bunch of money. A point here and there profited them mightily.It was pretty cool to see several medium acreage farmers pool together and make a lot of money like the big boys!

[CIRF]

Many years ago I did business with a group of farmers that "played" in the cotton futures market. One of them married into a large farming family that owned the local airstrip for spraying and the gin as well. They met every morning at the gin and kept a big screen tv running showing the futures market.

If I walked in and they were laughing and ranking on each other, they just made a bunch of money. A point here and there profited them mightily.It was pretty cool to see several medium acreage farmers pool together and make a lot of money like the big boys!

Cool story!

There is some of that done in our area but it's not all that common. The farmers in our area would much rather cannibalize each other than to work together to make some money.

One fact of life that has to be emphasized is that for every winner there must be a loser of equal size. That is a vast generalization but it's basically true. I've dabbled a little in grain futures options but only one straight hedge trade, which is the riskiest in my book. It's very easy to get sucked in when things are going well and the money is piling up. But, the next thing you know you're making multi-thousand dollar margin calls. Believe me, for those of us in that economic realm those realities will ruin your day and take the fun outa' life for a while.

A decade or more ago an old college roommate of mine got into day trading. He picked off almost $12,000.00 in just 2 days. Less than a month later he gave the 12 grand back along with an additional $2,500.00. My money comes too hard to risk that but there are people who do that stuff day after day. Not me.

[lurker]

Pick your link.

Biden's Climate-Change Policy Targets Oil Industry: Biden to suspend oil and gas leases on U.S. federal land - https://www.google.com/search?q=Bide...hrome&ie=UTF-8