Gasoline Prices Have To Drop If Oil Prices Stay This Low
- Thread starter Walt
- Start date
Fascinating watching uneducated know-nothings on the left presume to know how the oil industry works. That's almost as laughable as claiming Biden knows economics.
The futures markets agree with me, that gasoline prices are going down. If everyone else is wrong, as you claim, you can make quite a bit of money. Quick, invest in gasoline futures.
time will tell. certainly as the recession takes hold demand will fall and prices can then moderate.
I would not want to be living in Europe right now. Thier green energy drive has made them dependent on foreign oil, particularly easier to obtain Russia oil. I expect the lights will be going out all across Europe except for France which opted to keep their nuclear plants.
I have to give Celtic some credit here. He sees the major force driving down oil prices is lowering demand (not necessarily a good thing). He is several steps ahead of the average alt right "I want to believe" posts.
Prices have been steadily increasing.
last few weeks they have been relatively stable.
well to be fair, putting supply back to where it was serves the same purpose,
the closer you get to supply equaling demand the better off you are.
Biden damaged the supply side of the equation by lowering supply while demand remained.
I lived in Europe for three years,
Gas prices were always much higher than in the US.
I didn't see a link. Do share that link. I'd like to look at it and what timeframe they are predicting this.
So you came to flail and look stupid, not have a coherent debate. Got it.
and I noted that over the past 3-4 weeks it is relatively stable aka the same (up a little down a little but about the same) and that same is down a bit off the high.
India gets cheap oil and the USA gets to pay for Europes war.
10 % isnt "tumbling" -criticizing the article, not you
SALTY is looking for some pie in the sky reduction in demand .. aint happening
Never pay attention to SALTY
that would do it. the cure for inflated prices is a recession
It's like chemo-therapy..gotta poison the patient for it to recover
Yeah. They won't be going up anymore right?
depends.
problem is there is nothing happening to allow them to come down.
prices are hanging at a very high level, thats bad enough all by itself.
Some Democrats are blaming large oil companies for raking in huge profits at the expense of Americans who are getting squeezed at the gas pump. Wyden is set to unveil a plan that would slap oil companies with a 21% surtax on profits deemed excessive, along with taxing firms buying back their shares.
"You have Big Oil doing so immensely well under the federal tax code at the expense of the consumer," Wyden told Insider, adding he believes his measure will "connect" with people. Separate polls from the left-leaning Groundwork Collaborative and The Washington Post show a majority of voters pin the blame on oil companies trying to profit off the surge in gas prices.
Sens. Bernie Sanders of Vermont and Sheldon Whitehouse of Rhode Island also released their own windfall tax proposals. Those are modeled after programs recently established in Italy and the United Kingdom providing checks to the poorest families.
The Biden administration has kept the door open to a windfall profits tax as well. But some liberal and conservative economists are criticizing windfall taxes as potentially inflationary and damaging to efforts at increasing crude production.
https://www.businessinsider.com/bid...ion-exxon-big-oil-profits-saudi-arabia-2022-6
"You have Big Oil doing so immensely well under the federal tax code at the expense of the consumer," Wyden told Insider, adding he believes his measure will "connect" with people. Separate polls from the left-leaning Groundwork Collaborative and The Washington Post show a majority of voters pin the blame on oil companies trying to profit off the surge in gas prices.
Sens. Bernie Sanders of Vermont and Sheldon Whitehouse of Rhode Island also released their own windfall tax proposals. Those are modeled after programs recently established in Italy and the United Kingdom providing checks to the poorest families.
The Biden administration has kept the door open to a windfall profits tax as well. But some liberal and conservative economists are criticizing windfall taxes as potentially inflationary and damaging to efforts at increasing crude production.
"I think the fact that the Biden administration is floating a windfall profits tax or saying they're gonna consider it shows that they're in blame-shifting mode, not really constructive mode," Donald Schneider, deputy head of US Policy at Piper Sandler and a former House Republican aide, told Insider.
https://www.businessinsider.com/bid...ion-exxon-big-oil-profits-saudi-arabia-2022-6