Oh please, don’t rain on his parade. Not after he has established himself as expert in sooo many categories of space and time.
-
Welcome to Baptist Board, a friendly forum to discuss the Baptist Faith in a friendly surrounding.
Your voice is missing! You will need to register to get access to all the features that our community has to offer.
We hope to see you as a part of our community soon and God Bless!
Biden raising oil prices is costing you more cash money
- Thread starter Scott Downey
- Start date
You mean closing down the pipeline and losing thousands of jobs done by Trump, not by Biden?
The Dems way of doing business is FAR from free market enterprise!
There is no reason to have the price of oil rise up that much, since now fully self sufficient !
Higher prices will NOT be good for an economy already reeling from Covid massive shutdowns!
The Energy policy of Dems will cause us to go backwards big time in economy!Oh please, don’t rain on his parade. Not after he has established himself as expert in sooo many categories of space and time.
You wrote "energy sector," not construction.
Huge layoffs in the energy sector occurred under Trump's Administration. Much of it because of a price war from Donald Trump's friends in the Middle East:
The oil and gas industry has lost more than 100,000 jobs this year
October 4, 2020
What are you talking about when you write "[we are] fully self-sufficient?"
Since the public does not own the oil and gas under private lands (and often not under public lands), the public is not "self-sufficient." Since the public does not own the oil and gas companies, the public does not control the means of exploration, extraction, refining, and transport.
As such, the public should have no expectation that they should dictate the price of oil contrary to market trends, since the public is not "fully self-sufficient."
The reality of capitalism is that the higher the cost of oil, the more people are employed. The lower the price of oil, the fewer people are employed until the world business becomes unsustainable -- then there's an oil crisis. Oil moving into the $40-60/barrel range is actually a quite reasonable level, given what petrochemical products cost to produce.
It may not be immediately "good" for certain sectors of the economy, but it is good for the economy as a whole. This is VERY basic economics.
Expect oil prices to rise under the new Biden administration
Biden policy means higher oil prices: Goldman
Biden presidency will change the global politics of energy, but investors may be misreading how that change will take place. In fact, his policies could result in higher oil prices
www.barrons.com/articles/biden-could-have-a-surprising-impact-on-oil-prices
So all these addition job loses are going to make it even that much worse!
I have seen gas increase 20-40 cents a gallon.......
Yes, but when the excess oil begins to get used up, oil and gas industry jobs will return, boosting the economy. That's how the cycle works in a capitalistic system. We had a glut of oil, sitting in ships that were waiting to be unloaded, with the storage capacity for refined petroleum products completely filled. That causes job losses throughout the chain of production, refining, transportation, and all the businesses that support those activities and logistics. The infrastructure for oil and gas is enormous and extremely expensive to support, so companies have to lay off idle employees, to maintain solvency and profit margins (for stakeholders) to remain in business.
That's why oil and gas prices are going up to a sustainable level.
now that is interesting - last year when the USA came to a standstill - ie no one driving to work, "fun" shopping - ect - gas prices plunged even with a surplus.
But we will go with your thinking of a surplus--- So when wiil that surplus be used up - and prices will go south again?
But we will go with your thinking of a surplus--- So when wiil that surplus be used up - and prices will go south again?
What do you mean, "even with a surplus?" When there is little demand for something, the price falls. If there is a surplus, the price will fall and people who are involved in oil and gas production will become susceptible to layoffs.
It's not MY thinking, it is well-known reality.
I don't know. Production has been low, so we are slowing using up recovered petroleum and natural gas reserves. Once the pandemic is brought under control, we can expect the rate of production to kick up again. The rising oil prices are likely brought on by confidence that the Biden Administration will be successful in relatively quick control of the pandemic, but all of that timing is bound up in a lot of variables, including the American public's commitment to wearing masks and social distancing.
I don't know what you mean, "go south."
If you mean, 'when will prices fall?', that will be when we hit another glut of oil and natural gas. If you mean, 'when will prices rise?' (more expensive for the end consumer - "go south"), then it depends. $60 a barrel has historically been a pretty good price for oil. Not too expensive for the consumer, but high enough to keep petroleum industry moving.
Remember, a lot of the cost of gasoline is in added tax.