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"Drivers best start bracing for another surge in gas prices amid the conflict between Russia and Ukraine and years of under-investment by the oil industry, warns one veteran energy strategist."
When Biden got "elected", I predicted $6.50/gallon gas and the worst economy we've seen since the great depression in 12-18 months. So far, pudding brains has pushed and shoved the economy along by printing free money and forcing landlords to provide free rent, but that's coming to an end now and the start of the next great recession is imminent or already happening. A weak US dollar and a economy folding up means investors seek safe havens in energy and food commodities. Foreign countries will take advantage of it as well, buying up our commodities for export. Together, this will make the situation even worse.
Because everything in the US moves by fuel be it truck or train, runaway inflation (more) is going to hit everything. The things you have to have will see more steep price increases, and many a business will fold as their non-necessary items are cut out of household budgets or are no longer profitable due to the cost of shipping. It's going to be a repeat of 2007/2008, but on the tail of the Covid-19 mess instead of coming out of a hot economy with gov't coffers full of cash.
I want to be wrong, but I called it in 2007/2008. We will see how this post ages.
it is what it is fuel will always go up whenever there is any crisis or just because big oil wants it to
It's mostly this. Most people don't even realize how badly big oil is screwing American consumers. They are increasing prices while at the same time asking for tax subsidies.
Oil is a commodity traded on the world market. The price is not set by Biden or the oil companies. Unlike OPEC, the US does not control supply. Refinery capacity, plant shutdowns (planned and unplanted), weather, and decisions whether or not the price supports extraction activity affect oil supply here. Releasing oil form the strategic oil reserves can have limited effects on the price.
There is no ban on the export of US produced oil so there is no guarantee that US produced oil will stay in the country.
Other than the release of oil from the strategic oil reserves (short term) and using executive orders to reduce new oil/gas leases on federal land (long term), Biden, or any other president, have little impact on world prices. Climate/carbon policy also will have long term affects on the price of petroleum products.
Say it ain't so. It's already $5/gallon in the metropolitan and suburbs in California. I know it's hard to believe, but some of us don't make $100K per person per year here.
It's gonna be over $7 a gal soon in Cali sally for prem.
Awww come on, I don’t think I’ve ever been injured even a little bit by my bike. It’s usually the thing I run into while riding it that hurts me. I’ll just try to avoid sudden stops while getting 60mpg.
I'm 61 years old and have been riding motorcycles since I was 11 years old. I currently ride a 200hp super bike (Yamaha R1M) on the street and still race motocross regularly. Miraculously, I'm still alive.
An E bike is definitely more dangerous than a motorcycle. No brake lights, turn signals and usually crappy brakes. I ride one every day and people don't even see you. Too slow to keep with traffic and if no dedicated bike lane they see you as an annoyance. Especially the mask wearing idiots with glasses.
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