Winners only.

[YourNameHere 10+ year member]

 

[YourNameHere 10+ year member]

 

[ThxOne Premium Member]

Oh, really? Is this per the "Rule of Thxone"? Because the Federal Government seems to understand how it works a little differently from you:
"The Strategic Petroleum Reserve (SPR), the world's largest supply of emergency crude oil was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the international energy program."

"According to the 1975 Sinai Interim Agreement signed by the United States and Israel, as a precondition for Israel's return of the Sinai Peninsula and its associated oil reserves to Egypt, in an emergency the United States was obligated to make oil available for sale to Israel for up to five years. Israel has never invoked the agreement[citation needed], however. The agreement was extended in 1979, 1994, 2004, and, most recently, in 2015 for a ten-year period."

International obligations
"As a member of the International Energy Agency (IEA), the United States must stock an amount of petroleum equivalent to at least 90 days of U.S. imports. The SPR contained an equivalent to 141 days of imports as of September 2016. The United States is also obligated to contribute 43.9% of petroleum in any IEA-coordinated release."

We only produce ~1.4% more oil than the next highest producer. And we only produce 14.5%. That does not give us the ability to cripple the world markets unless you think oil is not a private industry in our country and the gov't should be able to just force the industry to stop selling internationally. Cuz THAT would surely bring the price down...

www.gao.gov

This is an archive of https://www.gao.gov/assets/gao-21-118.pdf from Thursday 14, July 2022

perma.cc

You'd rather be triggered and be an ******* than have a conversation.

 

[ThxOne Premium Member]

I don't think Saudi Arabia's intent is to cripple us. They're sitting on a valuable finite commodity and trying to maximize profits. In large part this is due to our own dependence on fossil fuels.

That said, I'm 100% behind nationalizing oil. So how do you suggest we nationalize oil? "Great Leap Forward" style? Or a more Fascist takeover were the State doesn't take ownership, just takes control? I can't see Biden pulling off something like that. OTOH, I do think Trump with majority control of congress might be able to pull it off.

Why doesn't the United States start it's own Oil Company Like U.S. Oil inc. or MAGA Oil lol you follow? A US oil company that answers to the US demand of oil. Strategic Oil Reserve and what not. Pick an area of land that only the US Oil company drills on and the rest of the private companies can continue to do as they do.

 

[Jimi77 Premium Member]

So the douche that attacked Paul Pelosi is fac

Why doesn't the United States start it's own Oil Company Like U.S. Oil inc. or MAGA Oil lol you follow? A US oil company that answers to the US demand of oil. Strategic Oil Reserve and what not. Pick an area of land that only the US Oil company drills on and the rest of the private companies can continue to do as they do.

I don't see how that would work. A nationalized oil company would take a long time to build up to serious output. Just seizing or forcing existing companies would be a lot quicker.

But let's say this oil company existed, so undercuts private companies, who in turn just increase exports??? I don't see how you can accomplish price control without just resorting to price control and ultimately either control or ownership of the oil industry. I don’t have a problem with nationalization of oil, it's a common model around the world.

 

[ThxOne Premium Member]

So the douche that attacked Paul Pelosi is fac


I don't see how that would work. A nationalized oil company would take a long time to build up to serious output. Just seizing or forcing existing companies would be a lot quicker.

But let's say this oil company existed, so undercuts private companies, who in turn just increase exports??? I don't see how you can accomplish price control without just resorting to price control and ultimately either control or ownership of the oil industry. I don’t have a problem with nationalization of oil, it's a common model around the world.

All I know is I don't drive an electric car though it produces a lot of current.

 

[ThxOne Premium Member]

I am curious that if the gas that is at the gas stations has already been paid for some time ago why does the price at the pump change as soon as lets say for this example, OPEC+ cuts production? How long does it take for the crude oil we buy to be refined and sent to our local gas stations? Shouldn't it take at least that long for gas prices at the pumps to go up after getting this kind of news or am I the only one who thinks something isn't stirring the Kool Aid?

 

[RobGMN Premium Member]

You'd rather be triggered and be an ******* than have a conversation.

You had plenty of opportunity to reconsider your stance on the “illegal” sales of oil from the SPR.
I presented you with the CFR and even quoted directly from said CFR to help you understand your error.
You refused to accept or use that information to gain an understanding of the reality, and where your errors lie.
You didn’t WANT conversation when I was sharing facts the first time, but now you do?

If there is an “*******” here, its the guy who considers his feelings to carry more weight than a verifiable fact, such as the Code of Federal Regulations.

 

[ThxOne Premium Member]

You had plenty of opportunity to reconsider your stance on the “illegal” sales of oil from the SPR.
I presented you with the CFR and even quoted directly from said CFR to help you understand your error.
You refused to accept or use that information to gain an understanding of the reality, and where your errors lie.
You didn’t WANT conversation when I was sharing facts the first time, but now you do?

If there is an “*******” here, its the guy who considers his feelings to carry more weight than a verifiable fact, such as the Code of Federal Regulations.

You're the triggered one crying and shaking your finger at me. Go take some Centrum Silver Grandpa.

 

[RobGMN Premium Member]

I am curious that if the gas that is at the gas stations has already been paid for some time ago why does the price at the pump change as soon as lets say for this example, OPEC+ cuts production? How long does it take for the crude oil we buy to be refined and sent to our local gas stations? Shouldn't it take at least that long for gas prices at the pumps to go up after getting this kind of news or am I the only one who thinks something isn't stirring the Kool Aid?

It’s retail pricing strategy. All retail sales operations adjust their pricing on the fly. If green beans go up, they raise the price right away; they don’t wait until they are selling the “new” beans they got at the higher price.

Now apply it to gas: Station A has just filled his storage tanks. Station B is empty. He fills up at a lower price than Station A. He lowers his sale price accordingly.
Station A maintains the higher price, because he paid more.And loses all his sales to B.

This is where nefarious averages come into play. With all stations adjusting by the market price, and by each other, they stay competitive and are able to make money.
It’s similar in concept to dollar cost averaging.

 

[ThxOne Premium Member]

It’s retail pricing strategy. All retail sales operations adjust their pricing on the fly. If green beans go up, they raise the price right away; they don’t wait until they are selling the “new” beans they got at the higher price.

Now apply it to gas: Station A has just filled his storage tanks. Station B is empty. He fills up at a lower price than Station A. He lowers his sale price accordingly.
Station A maintains the higher price, because he paid more.And loses all his sales to B.

This is where nefarious averages come into play. With all stations adjusting by the market price, and by each other, they stay competitive and are able to make money.
It’s similar in concept to dollar cost averaging.

At least you finally got the nefarious part right.

 

[RobGMN Premium Member]

At least you finally got the nefarious part right.

Totally nefarious. The unfortunate gas station that has to fill up when gas prices are high should absolutely suffer and hopefully close down.

Down with private ownership of business! Nationalize it all!

Why are Republicans pushing so hard for the state to take over private business?

 

[RobGMN Premium Member]

You're the triggered one crying and shaking your finger at me. Go take some Centrum Silver Grandpa.

Maybe if you didn’t have the intellect of a child, you wouldn’t consider me “grandpa”.

Seems you were the one once again crying about me not having “conversation” with you, after you already refused to HAVE one.
Triggered snowflake.
“You'd rather be triggered and be an ******* than have a conversation.”

 

[Jimi77 Premium Member]

I am curious that if the gas that is at the gas stations has already been paid for some time ago why does the price at the pump change as soon as lets say for this example, OPEC+ cuts production? How long does it take for the crude oil we buy to be refined and sent to our local gas stations? Shouldn't it take at least that long for gas prices at the pumps to go up after getting this kind of news or am I the only one who thinks something isn't stirring the Kool Aid?

The flip side is the gas you pump into your car today has to be replaced in the supply chain by the gas at today's prices.

 

[Jimi77 Premium Member]

Totally nefarious. The unfortunate gas station that has to fill up when gas prices are high should absolutely suffer and hopefully close down.

Down with private ownership of business! Nationalize it all!

Why are Republicans pushing so hard for the state to take over private business?

I don't think Republicans like the ones that live in DC want to take over private business. It sounds like their base may want to take over the oil industry. I never thought I'd see the day when:

1) The GOP base refused to stand up to communism/Russia
2) The Neo-cons actually rooted for Putin/Russia in a war.
3) And the GOP supporting nationalization of the oil industry.

I even support #3, but I never thought it would be the GOP suggesting we need to nationalize big oil. Fortunately for big oil, they own a lot of politicians in high places.