Gas price check---just for 3R
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$2.41 and falling every week in P.B. It should be when oil had it's biggest one drop sine 2010 just last week. It's in the 60's now, down form the 80's on one day and about half what it was a year ago. Gettin a lot closer to where it should be. OPEC has so far refused to cut production. Maybe they're trying to the folks in South Dakota out of the oil drilling business with these prices?
Re: $2.24
I didn't say his policies have anything to with it other than not stopping it. Others have said in the past that Obama was killing oil production in the U.S. I maintain he has not held up oil production and this is proof.
I saw a news report this morning that basically said what I said the other day. Oil prices falling like they are is most likely a game of chicken between OPEC and U.S. oil producers. When have you ever seen OPEC NOT cut production when prices fall too much. They are trying to put the U.S. producers out of business so they can jack up prices again. They know they can get their oil out of the ground cheaper and still make a LOT of money, not to mention they have been making BILLIONS for a LONG time, so they can hold out longer at cheaper prices than the guys in South Dakota. The report says it may drop to $40 a barrel before someone cries uncle.
I didn't say his policies have anything to with it other than not stopping it. Others have said in the past that Obama was killing oil production in the U.S. I maintain he has not held up oil production and this is proof.
I saw a news report this morning that basically said what I said the other day. Oil prices falling like they are is most likely a game of chicken between OPEC and U.S. oil producers. When have you ever seen OPEC NOT cut production when prices fall too much. They are trying to put the U.S. producers out of business so they can jack up prices again. They know they can get their oil out of the ground cheaper and still make a LOT of money, not to mention they have been making BILLIONS for a LONG time, so they can hold out longer at cheaper prices than the guys in South Dakota. The report says it may drop to $40 a barrel before someone cries uncle.
Re: $2.24
Once again I don't say what they do or do not support. I say oil production has vastly increased during his administration so claims that he has hurt oil production are simply ridiculous. He did take away some oil leases on government land that the companies who held those leases for years would NOT drill on. It was a use it or lose it kinda thang.
Once again I don't say what they do or do not support. I say oil production has vastly increased during his administration so claims that he has hurt oil production are simply ridiculous. He did take away some oil leases on government land that the companies who held those leases for years would NOT drill on. It was a use it or lose it kinda thang.
Re: $2.24
You wre implying Obama wasn't hurting oil production. He may not be but he has tried to. He resists fracking which is responsible for todays gas prices. He has reduced leases on federal land. If it's not being used what does taking away the lease do but insure that land never gets used? He is killing the coal industry increasing the dependence on oil. He has done NOTHING to cause todays prices and wishes they weren't so.
Re: $2.24
He took the leases from companies that held them for years and did nothing with them. Taking the leases awau-y menas somebody else could lease that land an drill on it. Not likely with the price like it is now.
Some states are resisting fracking, apparently the president has no control over it.
Down to $2.37 in P.B. With a Kroger card it's $2.34 at their place. Kinda strange there is so much difference in gas prices within the same state. We all should be paying the same in gas taxes so why is there so much difference from town to town?
He took the leases from companies that held them for years and did nothing with them. Taking the leases awau-y menas somebody else could lease that land an drill on it. Not likely with the price like it is now.
Some states are resisting fracking, apparently the president has no control over it.
Down to $2.37 in P.B. With a Kroger card it's $2.34 at their place. Kinda strange there is so much difference in gas prices within the same state. We all should be paying the same in gas taxes so why is there so much difference from town to town?
$2.28 in Mt Vernon this AM.
Drill baby drill seems to be working! Imagine if we really were agressive about it.
The libs have repeatedly told us conservatives that US oil production being increased would not lower gas prices in the US because the oil is sold on a world market. This just proves supply and demand is the determining factor.
DRILL BABY DRILL!!!!
Drill baby drill seems to be working! Imagine if we really were agressive about it.
The libs have repeatedly told us conservatives that US oil production being increased would not lower gas prices in the US because the oil is sold on a world market. This just proves supply and demand is the determining factor.
DRILL BABY DRILL!!!!
You know this ain't gonna last. It's an oil price war rather the old gas wars we used to have. OPEC can hold out for a while but they'll tire of not raking all the billions they're used to getting and cut production one of these days. They'll probably be able to knock out a few fracking operations that can't stand the priced cuts for long. We'll just hafta enjoy it while we can.
Oil war? OPEC has no real options.
If OPEC cuts production and the US increases, what is OPECs move then? Increasing US oil production lowers prices, increases economic activity, and buys time to develop those replacement fuels.
If OPEC cuts production and the US increases, what is OPECs move then? Increasing US oil production lowers prices, increases economic activity, and buys time to develop those replacement fuels.
On another topic without starting another thread, we got our anual benefits summary at work this week. Health insurance had a 40% annual increase. Que Rumor to tell us how Obamacare hasn't increased prices. The healthcare providers who spoke to us said they would like to blame the ACA but would let it go. They did say that there was one thing they could say for sure about the Afordable Care Act was that it was false advertizing since it was a lot of things but afordable wasn't one of them. We ended up with increased co-pays, higher deductibles, much higher (tripled) maximum out of pocket, and switched health care networks to keep the increase tollerable.
Their option would be to cut production like they usually do. If oil prices are set by the global market as you and others always tell me they are, less oil in the short term would mean price increases. They could affect the supply of oil in a few days if they turn off the spigot. U.S. oil producers could NOT take up their slack anywhere near soon enough to keep prices from going up. They're not cutting production in an effort to shut down a bunch of U.S. oil wells.
There's nothing in obamacare that materially increased employer provided health care costs from 2014 to 2015. Mine went up 2 percent. An anecdote does not make a trend - mine or yours.
Overall employer provided plans are continuing the lower year over year increases than they did prior to the passage of the law (which is due to the slowdown in overall cost trend not the law itself).
http://kff.org/health-costs/press-release/employer-sponsored-family-health-premiums-rise-3-percent-in-2014/
Also you need to see the full premiums to judge how your health care costs really changed and not the employee premiums, it's not the fault of "obamacare" if your employer decides to shift cost to you.
Overall employer provided plans are continuing the lower year over year increases than they did prior to the passage of the law (which is due to the slowdown in overall cost trend not the law itself).
http://kff.org/health-costs/press-release/employer-sponsored-family-health-premiums-rise-3-percent-in-2014/
Also you need to see the full premiums to judge how your health care costs really changed and not the employee premiums, it's not the fault of "obamacare" if your employer decides to shift cost to you.
Plenty of companies out there blaming obamacare for any cost increase or plan change whether or not it's true, 3R.
Absolutely 3R they could cut supply to make markers tighter.
Cutting supply is also a signal to the market that you have the backbone to make moves which will attempt keep oil above a certain price floor. Not cutting supply at 70 dollar oil is a signal to the market that OPEC is not willing to defend the current price. Why shouldn't buyers try to pay less?
Cutting supply is also a signal to the market that you have the backbone to make moves which will attempt keep oil above a certain price floor. Not cutting supply at 70 dollar oil is a signal to the market that OPEC is not willing to defend the current price. Why shouldn't buyers try to pay less?
OPEC could cut faster than the US could increase. They have like 3 times the oil production that we do. We also don't have a lot of spare capacity to be ramped up. We've ramped it all up.
If OPEC wanted 100 dollar oil they could have it tomorrow. They control 1/3 of the supply of oil in a market with pretty inelastic demand. If they cut their production by even 5% it would shoot the price of oil up.
They would have a problem enforcing such an action on some of their members, though. Everyone wants a supply cut but no one wants to be the one who makes a cut. Their budgets are strained.
If OPEC wanted 100 dollar oil they could have it tomorrow. They control 1/3 of the supply of oil in a market with pretty inelastic demand. If they cut their production by even 5% it would shoot the price of oil up.
They would have a problem enforcing such an action on some of their members, though. Everyone wants a supply cut but no one wants to be the one who makes a cut. Their budgets are strained.
These are 3rd party people hired to find the best deal. They are not health care providers. We have filled out several forms as employees to comply with ACA. They named the "positives" about ACA but were emphatic it did nothing to make health care affordable.
Sure they could cut production and prices would rise temporarily. But US production is still increasing and when we get a more favorable administration in the executive branch it will really grow. Does OPEC keep cutting production and thus profits? Increased production in the US will force prices to a natural price level as opposed to the current controlled price. Cutting production by OPEC will only delay the inevitable unless we get a lot more libs in control.
The employee pays 20% of the premium whatever it is and the employer pays the other 80%. There is no cost shift. There was a 40% increase to keep the existing policy! We went with a policy that has much higher co pays, deductibles, max out of pocket, and limits co pays to keep premiums near current levels.
We had a 7% increase last year and a 40% increase this year. Blame whoever you want. Neither healthcare nor insurance is more affordable under the "Affordable" Care Act.
1. This admin has been as favorable to oil as any; the idea that oil is under attack in the US is ridiculous. Coal is under attack; nat gas/oil are being promoted by basically everyone.
J Paul Getty could be the President of the US and oil production would be about the same that it has been under Obama. Oil production is up by leaps and bounds!
2. There is no scenario under which the US could produce enough oil to offset a serious cut in supply by OPEC. You are living in fantasy land. We couldn't do it in the 1970's and we can't do it now.
The US produces about 9 million barrels of oil a day and we are using all of it - we have little to no spare capacity sitting idle. OPEC produces closer to 30 M. It doesn't take a math wizard to realize we can't ramp up enough to offset even a 10% cut in their supply.
You can repeat the lie about us being able to weather an OPEC supply cut 100 times and it doesn't magically become true. They could double the price of oil tomorrow if they wanted to do so.
There is no magic faucet to be turned on with oil. It takes time and years of investment to ramp up production. A sudden cut from OPEC in supply cannot be made up in the short term.
The affordable care act is about access to care, not about lowering the overall cost curve for health care. The name is misleading.
That's strange about number 1. I heard that the feds had slowed down on approving permits. I will have to see if I can find that.
Federal permits don't matter for drilling on non-Federal lands. Core of US growth is fracking on private land in ND and Texas. Feds haven't done anything material to impede that.
It's also true that Obama gets too much credit for oil production growth; what has happened in the US is a private sector story (they responded to high oil prices with ingenuity). Obama has allowed that to happen on a large scale to an extent similar to what a Republican President would allow.
The #1 thing driving drilling in the US is the price of oil. When oil is over $100, you're going to see everyone and their mother looking to drill new holes. When oil is in the $60s, you'll see news stories like what is attached. It just takes a long time for production growth (or decline) to show up given the lag time in these projects.
http://www.reuters.com/article/2014/12/02/us-usa-oil-permits-idUSKCN0JG2C120141202
It's also true that Obama gets too much credit for oil production growth; what has happened in the US is a private sector story (they responded to high oil prices with ingenuity). Obama has allowed that to happen on a large scale to an extent similar to what a Republican President would allow.
The #1 thing driving drilling in the US is the price of oil. When oil is over $100, you're going to see everyone and their mother looking to drill new holes. When oil is in the $60s, you'll see news stories like what is attached. It just takes a long time for production growth (or decline) to show up given the lag time in these projects.
http://www.reuters.com/article/2014/12/02/us-usa-oil-permits-idUSKCN0JG2C120141202
My went down 15% after going up year after year after year long before The ACA went into effect.
Oh and bought gas in Herculaneum yesterday for $2.16
People have complained about the ACA but the bottom line is that is has been around long enough now that even if the Pubs want to do something about it they would have to have a plan to replace whatever parts they destroy. Basically the ACA is here to stay and hopefully improvements will be made as time goes on.
This post was edited on 12/9 12:34 PM by vbsideout
Oh and bought gas in Herculaneum yesterday for $2.16
People have complained about the ACA but the bottom line is that is has been around long enough now that even if the Pubs want to do something about it they would have to have a plan to replace whatever parts they destroy. Basically the ACA is here to stay and hopefully improvements will be made as time goes on.
This post was edited on 12/9 12:34 PM by vbsideout
You think they don't want $100 oil?
Then why aren't they? They aren't going to bankrupt any oil companies with this "move" of continuing production.
It would be a public relations nightmare to curtail private land drilling and that is the only reason they haven't tried to. If cutting permits is being "friendly" on oil production you clearly see things differently. Obama and Co are opposed to any energy that isn't unproven and yet people try to credit "increased production under his reign" as evidence he's on the right track.
If you believe the news articles, it's not about bankrupting oil cos, it's about stopping new wells from being drilled so they can get a supply squeeze later
Also about the Saudis turning the screws to Iran.
Perhaps also an eye towards hurting investment in green technologies.
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