Fogbow

Posted: **Thu Mar 17, 2022 10:17 am**

Trickle down economy....

Posted: **Thu Mar 17, 2022 10:24 am**

raison de arizona wrote: ↑Thu Mar 17, 2022 10:02 am
tek wrote: ↑Thu Mar 17, 2022 5:59 am
Volkonski wrote: ↑Wed Mar 16, 2022 10:49 pm That $96 price is for WTI Crude for delivery in April ′22.

https://www.cnbc.com/quotes/@CL.1
If we're going to play that game, then the gas prices should have a time lag. But they didn't on the way up.
It’s odd how when oil prices go up, it takes about six minutes for that to show up at the pump. But when oil prices go down, it takes about six months for that to trickle down to the pump. Wonder what that means?

A pet peeve, but

Off Topic

sort of like with a credit card charge, it's an instant process; for a refund, four to six weeks.

Posted: **Fri Mar 18, 2022 11:13 am**

Thanks Obama.

Good thing tfg brokered a deal to cut production through -checks notes- APRIL 2022 to cut oil production in order to prop up oil prices. The stable genius sure did a bang up job on this one.

Posted: **Wed Mar 30, 2022 3:26 pm**

Rep. Diana DeGette @RepDianaDeGette wrote: BIG NEWS: We’ve called the CEOs of 6 major oil companies to testify before our committee next week. We’re not going to allow people to be gouged at the pump while companies report record profits. We need to know what’s causing these record gas prices & how to lower them now!

Hate to say it, but

Posted: **Wed Mar 30, 2022 4:23 pm**

If they won't have Katie Porter and her whiteboard, it means nothing.

Posted: **Wed Mar 30, 2022 4:47 pm**

The way to reduce gas prices is to reduce demand.

As long as people keep filling their tanks, gas sellers have no incentive to reduce prices.

Posted: **Wed Mar 30, 2022 4:51 pm**

tfg’s oil production reductions end in April, hopefully that will help. And I’m not against lining these oil companies against the wall with some sort of windfall profit tax.

Posted: **Wed Mar 30, 2022 5:02 pm**

Sigh. Locally the prices have dropped from a high to $4.29 back down to $3.83 for regular.

Posted: **Wed Mar 30, 2022 8:43 pm**

As I don't follow the US economy I was wondering how much of those huge profits came from the local US markets and which part was foreign and overseas business.

Posted: **Wed Mar 30, 2022 10:03 pm**

RTH10260 wrote: ↑Wed Mar 30, 2022 8:43 pm As I don't follow the US economy I was wondering how much of those huge profits came from the local US markets and which part was foreign and overseas business.

Most gasoline sold in the USA is produced by large multinational petrochemical corporations. Most of their profits come from outside the USA and this has been the case for decades. Note that gasoline is just one of the many products these companies produce.

Also note that while the profit numbers looked at without context may seem "large" these corporations are very very large and need a lot of income to achieve even modest returns on investment compared to other companies.

Posted: **Sun Apr 03, 2022 4:13 am**

Still high prices in Hawaii. Currently, Costco is now $4.79, and most other companies are around $5.45.

Posted: **Tue Apr 05, 2022 3:49 pm**

Posted: **Tue Apr 19, 2022 3:05 pm**

A quick search didn't yield Altman's (candidate VA-2) birth date, but I must not be as old as him. I can't remember a time you could get 23 gallons of gas with the change from your ashtray.

Trump endorsed House candidate Tommy Altman claims he used to “fill up” his “gas tank by taking change out of the ashtray” in his car, but can’t anymore because of Biden.

Posted: **Tue Apr 19, 2022 4:17 pm**

Must have a very small gas tank.

If gas was 25 cents a gallon (a price I remember) it would take 15 quarters to fill a 15 gallon gas tank. Big ashtray.

Posted: **Tue Apr 19, 2022 4:23 pm**

I blame Eisenhower.

: 15_cent_gas.jpg (295.81 KiB) Viewed 1176 times

Posted: **Tue Apr 19, 2022 4:40 pm**

Back when cars still had ashtrays, mine was always full of cigarette butts.

Nowadays, no ashtray, but I do throw change in one of the cupholders which, coincidentally I emptied out today & cashed in at the local Coinstar machine. Got me just over 22 bucks which would be a skosh over a ¼ tank of gas at $5.37/gal.

Posted: **Tue Apr 19, 2022 7:17 pm**

raison de arizona wrote: ↑Tue Apr 19, 2022 3:05 pm A quick search didn't yield Altman's (candidate VA-2) birth date, but I must not be as old as him. I can't remember a time you could get 23 gallons of gas with the change from your ashtray.

Trump endorsed House candidate Tommy Altman claims he used to “fill up” his “gas tank by taking change out of the ashtray” in his car, but can’t anymore because of Biden.

The tank hes talking about is his lawnmower.

Posted: **Thu Apr 21, 2022 7:29 pm**

Posted: **Thu Apr 21, 2022 7:33 pm**

Paywalled, why are they closing? Seems like right now they'd be making money hand over fist.

Posted: **Thu Apr 21, 2022 7:57 pm**

raison de arizona wrote: ↑Thu Apr 21, 2022 7:33 pm Paywalled, why are they closing? Seems like right now they'd be making money hand over fist.

In the chain of steps from exploration thru to sales to consumers refining is not where the money is.

Posted: **Thu Apr 21, 2022 10:34 pm**

Lyondell Basell to shutter Houston oil refinery in exit from refining

https://www.reuters.com/business/energy ... ce=twitter

The decision comes after two failed attempts to sell the plant and the closing of five U.S. refineries in the last two years. Refining until recently has been beset by high costs and low margins.

"After thoroughly analyzing our options, we have determined that exiting the refining business by the end of next year is the best strategic and financial path forward," said Ken Lane, interim chief executive.

The refinery, which makes gasoline, diesel and jet fuel, will remain in operation and the company will continue to seek potential transactions and/or alternatives for the roughly 700-acre site on the Houston Ship Channel.

The company earlier took a $264 million impairment charge as part of its decision to exit refining. In the past 10 years, Lyondell has twice mounted efforts to sell the 263,776 barrel-per-day refinery but failed to conclude a deal.

The Houston Ship Channel is a prime location. Someone will buy it.

Posted: **Thu Apr 28, 2022 4:27 pm**

Those states are in the pocket of Big Corn.

Posted: **Thu Apr 28, 2022 7:31 pm**

raison de arizona wrote: ↑Thu Apr 21, 2022 7:33 pm Paywalled, why are they closing? Seems like right now they'd be making money hand over fist.

Going by industrial history, like big Steel, I’d bet their plant’s equipment is old, there’s newer refiners in other countries that are more efficient, and the Americans can’t compete.

That pattern has happened over and over, in many industries.

Posted: **Fri Apr 29, 2022 1:26 am**

: Gas Prices.jpg (98.29 KiB) Viewed 1020 times

Posted: **Fri Apr 29, 2022 1:46 am**

I would gladly pay $10 or $20/gallon if that helped defeat Putin.

Fogbow

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