Fuel prices around the world.

[Hay Dude]

What kind of fantasy is there that we are not producing oil and gas in this country? There are currently 26 million acres of federal land oil and gas leases issued that can be drilled and producing at any time. Decades worth of cleared areas ready to go. Oil company drill rig counts fluctuate based on oil prices and the companies business operations. Currently, most oil production is in the Permian basin in my region, because oil companies can produce more profitably here. Our state has a $1.6 billion dollar budget surplus this year, due to the increased production during 2021. They have moved rigs from North Dakota here recently because that oil costs more to produce. Companies make business decisions. Oil companies lost big during Covid when demand plummeted. They are now operating to recoup those losses. The keystone pipeline is irrelevant: Canadian oil destined for export (our refineries can’t handle the low grade tar sand oil). Oil and gas companies make decisions to satisfy shareholders, not those of us at the pump.

Oil and gas are currently HIGHLY REGULATED AND TAXED.
Therefore, the ones doing the regulating and taxing could lower the price by decreasing regulations and taxes.
Its THAT simple. Did you see how there was a recent, albeit token release of the “strategic oil reserves” last week? See how easy that was? With the stroke of a pen, the federal gas tax could be reduced to help in the same way. With the stroke of a pen, the federal government could ease restrictive regulations.
Your reasoning is over complicated. It’s really very simple.

Also, are you telling me that if the Keystone Pipeline ADDS more oil supply it WONT reduce cost? I guess Econ 101 doesn’t apply anymore?
I agree oil companies exist to make profits and benefit shareholders, but regulations and taxes added affects their prices, too

 

[Mtsoxfan]

By the people, for the people

 

[jyoutz]

No my friend. Oil and gas are currently HIGHLY REGULATED AND TAXED.
Therefore, the ones doing the regulating and taxing could lower the price by decreasing regulations and taxes.
Its THAT simple.
With the stroke of a pen, the federal gas tax could be reduced to help. With the stroke of a pen, the federal government could ease restrictive regulations

Yes, taxes do contribute to the cost of fuel, and they are also the only source of road construction and maintenance. There is no free lunch. What restrictive regulations do you want to dump? Clean air and water? This seems to be some kind of mantra “restrictive regulations.” But most people are benefited by making petroleum producers operate as good citizens. In my state a few years ago, the legislature passed laws (restrictive regulations) to require capture of gas leaks and end flaring and also to capture and dispose of wastewater. The oil companies whined that this would destroy the industry. Today, they are doing this and my state is the 2nd largest producer of petroleum products. I’m all for the restrictive regulations that protect our environment and public health.

 

[lman]

 

[Hay Dude]

Yes, taxes do contribute to the cost of fuel, and they are also the only source of road construction and maintenance. There is no free lunch. What restrictive regulations do you want to dump? Clean air and water? This seems to be some kind of mantra “restrictive regulations.” But most people are benefited by making petroleum producers operate as good citizens. In my state a few years ago, the legislature passed laws (restrictive regulations) to require capture of gas leaks and end flaring and also to capture and dispose of wastewater. The oil companies whined that this would destroy the industry. Today, they are doing this and my state is the 2nd largest producer of petroleum products. I’m all for the restrictive regulations that protect our environment and public health.

Please, don’t play the game of “hay dude wants to pollute the air & water”. I don’t.
Look at what the taxes are on fuel. Tax elsewhere. Our tax policies SUCK in this country. They gas tax is very punitive and discriminatory against working people. The rich could basically care less.
Regulations are strangling businesses to the point that they have moved offshore forever. These are jobs that are never coming back. They make us reliant on hostile actors like Putin, who we now buy 7% of our oil from to fund his genocidal war. That’s up from 3% just 2 years ago

Do you favor buying fuel from Putin to fund his genocidal war, or would you rather get more cleaner fuel from the US? Are you in favor of the doubling of fuel purchases from Russia in the last 2 years? The last year of which we new Putin was on the move to reunite the Russian empire?
I know you don’t want genocide funded, right? So why not stop buying his oil and produce more here, to help Stop continued genocide funding?

 

[jyoutz]

Please, don’t play the game of “hay dude wants to pollute the air & water”. I don’t.
Look at what the taxes are on fuel. Tax elsewhere. Our tax policies SUCK in this country. They gas tax is very punitive and discriminatory against working people. The rich could basically care less.
Regulations are strangling businesses to the point that they have moved offshore forever. These are jobs that are never coming back. They make us reliant on hostile actors like Putin, who we now buy 7% of our oil from to fund his genocidal war.

Do you favor buying fuel from Putin to fund his genocidal war, or would you rather get more cleaner fuel from the US? Are you in favor of the doubling of fuel purchases from Russia in the last 2 years? The last year of which we new Putin was on the move to reunite the Russian empire?
I know you don’t want genocide funded, right? So why not stop buying his oil and produce more here, to help Stop continued genocide funding?

The reason we don’t produce more here is due to oil companies making decisions related to maximizing shareholder value. They could produce more (why have they pulled so many rigs from North Dakota?). Not all decisions are made by government. This is a capitalist system and oil companies are exporting oil to maximize profits. Why don’t we keep our oil and not buy from Putin? Because oil companies get what they want from Congress.

 

[ultrarunner]

Californians resigned as gasoline prices spike

Californians filling up their cars on Friday winced at the spiraling cost of gasoline, but largely shrugged as residents of the state that has long had the highest gas prices in the United States.

news.yahoo.com

 

[Hay Dude]

Even Elon Musk admits we need more domestic oil and gas production. Good grief, what else do you need to know?

 

[jyoutz]

Even Elon Musk admits we need more domestic oil and gas production. Good grief, what else do you need to know?

Nobody is stopping oil companies from producing more. They have millions of acres of oil leases in proven oil fields. They can operate as many rigs as they want on those leases. That’s my point. They produce to the level that keeps the prices where they want it. What do you suggest? Forcing companies to produce more by enacting laws requiring this? Or having government drill for oil? They produce based on their business plan and desired profit margins.

 

[coobie]

Have you ever taken note that your snarky comments get you time outs? If you cannot contribute something of worth, don't comment. All your snarky comments do is show your abject ignorance. Why you are the one poster on here I keep on ignore as your comments are basically worthless or politically leaning.

Pot calling the kettle black Mr. know it all.LMAO