Quote:
Originally Posted by andywire
I merely said Joey's defenders will ignore it, and you proved my wrong for once by responding.
|
Quote:
Originally Posted by michiganmoon
You seem to have shifted in other threads from denying government numbers on the bad economy to sarcasm. Not a bad strategy considering Biden is indefensible.
|
As much as I hate Joe Hiden, there's nothing to defend.
Presidents only control foreign policy. Presidents have no control over Geo-Political Strategy. The Bureaucracy is the only entity that controls Geo-Political Strategy.
Even if Hiden shouted
"Drill, baby, drill!" whilst being sworn in, it would change nothing.
We do not live in a mouse-click world. It isn't click the mouse a few times and oil's on the market.
It's 4-8 years from test drill to market. Get over it already.
Which part of C8 do you people not understand? C8 is Octane. That's what gasoline is.
Canadian Tar Sands is C30+. That's why it's tar. Get it? C24 to C28 is your heavy oils. Yeah, there's some C8 in there but not enough to keep gasoline prices below $7-$10/gallon.
Intermediate grade oils have C8, too, but not enough to keep gasoline prices below $5/gallon.
That's why you were importing Siberian Light from Russia.
Every barrel of Siberian Light is 24 gallons of gasoline. That's why you import light oils.
Which part of
"Federal law prohibits the export of raw crude oils" do you not understand?
All of you rail against OPEC but you've been the problem for the past 50 years.
The global oil market is all the world's oil
minus US oil.
Again for the little brains: Federal law bars you from selling US raw crude oil on the world market.
The week of May 13
you were exporting 957,000 barrels of gasoline per day.
957,000 barrels * 7 days * 42 gallons =
281,358,000 gallons of finished gasoline
Just 9 days ago you exported
281 Million gallons of gasoline over a period of 7 days.
Why are you exporting 281 Million gallons of gasoline when gas prices are $4.50/gallon?
Doh!
I just told you why. Your oil sucks and you're not allowed to export raw crude oil.
Every barrel of oil you pull out of the ground must by federal law be refined in the US before export.
That gasoline is mostly Louisiana Sour (a light oil) and East Texas Sour (an intermediate oil) and both are full of Sulfur so you cannot use it in the US, which is why you export it.
Question: Do you have the refining capacity to handle increased crude oil production
Answer: No.
Increasing US oil production will not lower global oil prices, since US oil is forbidden from being sold on the world market. It does affect domestic crude oil prices.
What does impact the global oil market is the amount of oil you can refine.
Hiden did not shut down the economies of the States that led the supply chain crisis that is causing rampant Demand-pull Inflation.
Hiden was forced to cut off Siberian Light from Russia, because if he does not, then you crucify him for not cutting it off.
Why can't you import Hibernia Blend from Canada?
I've explained this 100x at least.
Most of your gasoline refineries are set up for API 38°-42° to run WTI, Brent Blend, Arab Light, Murban, and Forties Blend.
When the Citgo refinery isn't running Tijuana Light from Venezuela, it's running Dubai or West Texas Sour (for export.)
Refineries cannot refine any oil they freaking feel like refining.
It's called the Laws of Physics. Look into it.
You only got 5 refineries that can refine Hibernia Blend and 3 of them are in Kansas.
The oil platforms are off the Labrador coast. Good luck getting the oil to Kansas.
In the last 10 years, you went from 167 refineries to 122.
What did Trump do about that? Nothing, because he wasted time fussing over Keystone when he should have been figuring out how to build more refineries, increase capacity of existing refineries or realigning your refineries.
The primary reason those refineries shut down is because they couldn't get the oil they needed.
What?
Didn't we just do the whole API/Laws of Physics thing?
If you can't get the oil you need or if the oil is garbage and you can't export/sell the refined products, then common sense says you shut down.
You wanna install new stills to refine different oils?
That's 5-6 years and you're gonna need money from investors.
Your grandma might pony up the money but smart investors won't.
Governors caused the supply chain crisis leading to Demand-pull Inflation. That's not Hiden's fault and it's not the Federal Reserve's fault.
If you can't get what you need, you seek substitutes, but if you have supply chain issues, then you have more Demand-pull Inflation. That's not Hiden's fault nor the Federal Reserve's fault.
Gas/diesel prices are Demand-pull Inflation. That creates Cost-push Inflation which drives prices up higher. Not Hiden's fault and not the Federal Reserve's fault.
You want government to do something?
Well, it'll take 6 months to collect the data and 6-12 months to analyze it and then another 6 months to formulate some kind of policy and by that time the crisis has passed.
That's why government is lame.
Quote:
Originally Posted by LKJ1988
Once gas hits 10+ a gal pals it's all over rover.
|
Not gonna happen. It'll be rationed long before it gets that high to keep prices lower.
Quote:
Originally Posted by 16 Acres
Late to respond, but I watch the Dow almost daily. Since January 4th, it's dropped over 5,500 Points, and I feel like this is just the beginning. I picked a conservative 22 in the poll.
|
Wow, a whole 13%. Panic much?
To educate you properly, the 3 worst crashes never exceed 48% and during those 3 crashes the economy was humming along at 2.5% to 12.5% GDP per quarter.
Obviously, you're oblivious to the fact that during many recessions, the stock market routinely set daily or weekly record highs.
When did the stock market recover 100% from the 1929 crash and then start setting record highs?
Oh, that was during the 1960-61 Recession.
Oooops....
Seeing how you don't understand stocks or economics, you should probably refrain from investing.