Gasoline prices Skyrocketing!

[Skratch]

Oil; just closed 92.32 for the weekend...

Someone is getting greedy there bud...

Geeze, I wonder who??????? Exxon Mobil stock doubled in the last year

 

[laatsch55]

So did my revenue..

 

[laatsch55]

And the deduct went to 3.45 from 4.65 last month...WTF??

 

[Wheel-right]

Nothing new, is it? Gotta make the money flow for the big wigs. Screw the little guy.... again!

 

[laatsch55]

Mo, it actually went in our favor this month..

 

[laatsch55]

...

 

[grapplesaw]

...

Good for you Bad for me . Diesel $1.90 per liter here today. That’s $5.26 USD per US gal

 

[Skratch]

Oil is gonna be on a roller coaster ride until the Ukraine bullshit gets straightened out

 

[laatsch55]

That ain't gonna do it either Mark... There is a tightening of the supply side of this deal that is real. For god knows how many years, Opec excess capacity has been able to smooth out these shortages by just kicking on more production. Some OPEC members have not been able to even produce their allotments, and Saudia Arabia is either not willing or not able to make up the shortage. The consensus is that Saudia Arabia is no longer ABLE to bump up production...

 

[George S.]

Lee, is the fracking technology that allowed us to become self sufficient in energy prior to the current admin being used elsewhere in the world?
Are the Saudi fields running low or are there other issues?

 

[NeverSatisfied]

This is the same market manipulation scheme that popped the housing bubble in 07-08. Once fuel prices get above $4 a gallon the economy will start to falter and the weakest links or biggest bubbles will break. It’s going to be worse this time because COVID has already disrupted the global supply chains and costs are screaming up in all segments. The market barons will exploit every weakness and the tax payers and 401k’s will be left holding the bag once again.

 

[WOPL Sniffer]

How many of you in areas with snow use a heater on your car so it can be started in the morning? This is unheard of in Australia.

Yep, mine plugs into the wall (for the block heater).

 

[laatsch55]

Lee, is the fracking technology that allowed us to become self sufficient in energy prior to the current admin being used elsewhere in the world?
Are the Saudi fields running low or are there other issues?

The Saudi fields are not running low, their ability to turn on an additional 1 to 2 million bbls a day are in doubt. There has not, so far, been an all in adoption of shale development and fracking that we have. The UK has outlawed any fracking whatsoever, as have quite a few European countries. South America has the largest shale and frac operations outside of the USA. Argentina especially has a large program going...

 

[laatsch55]

This is the same market manipulation scheme that popped the housing bubble in 07-08. Once fuel prices get above $4 a gallon the economy will start to falter and the weakest links or biggest bubbles will break. It’s going to be worse this time because COVID has already disrupted the global supply chains and costs are screaming up in all segments. The market barons will exploit every weakness and the tax payers and 401k’s will be left holding the bag once again.

Do you follow Martin Armstrong's blog??

 

[NeverSatisfied]

Do you follow Martin Armstrong's blog??

No but I will check it out. I am no economist but I can see where this is going and it doesn’t look good to me.

 

[laatsch55]

Martin Armstrong started life as a day trader and he minored in programming. He has built a computer which in essence takes millions of datapoints e3veryday and kinda predicts the future. The feds had him in prison for 7 YEARS for contempt of court, to get him to give up his computer code, which he did not, only released him the day he was suppopsed to appear before the Supreme Court .....Good man put through the ringer by a corrupt gov't...

 

[J!m]

The American way…

 

[laatsch55]

No but I will check it out. I am no economist but I can see where this is going and it doesn’t look good to me.

Martin also had enough dirt to put every banker in New York in prison.......but it was in World Trade Center #7......boom....no more evidence..

 

[J!m]

Interesting coincidence.

 

[laatsch55]

Yeah, imagine that....