Anyone notice nice drop in gas prices the last month

JackTripper said:
You just implied the WH controls supply through the permitting process.

The biggest inputs into pump prices are price of oil, refining costs, distribution/marketing costs and lastly gov taxes. Which one of these levers is the WH manipulating?
Click to expand...
The biggest input is the actual supply.
 
Geo said:
The biggest input is the actual supply.
Click to expand...

Not necessarily. But you had it right in your top post at the very beginning of the thread--it's the economy, which implies demand.

Pump prices also have a normal seasonality to them that peak in the summer months (when travel demand is high) and drop during the fall/winter (when travel demand softens). In the US, there is also a refining component, which is the switch away from "summer" blends that occurs in September, which burns cleaner and is mandated by the EPA in dense US markets. Summer blend costs more to refine than the winter blend, adding another 10-15 cents per gallon.
 
JackTripper said:
Explain why I should reconsider?
Click to expand...
Because current white house policies affect crude futures. Not sure how you can't make that connection when you are saying the "white house doesn't control oil prices etc etc". I mean, you are kind of right, but also wrong at the same time. Just my two cents. I hope your day is well.
 
  • Like
Reactions: Geo
VonBonfire said:
Because current white house policies affect crude futures. Not sure how you can't make that connection when you are saying the "white house doesn't control oil prices etc etc". I mean, you are kind of right, but also wrong at the same time. Just my two cents. I hope your day is well.
Click to expand...

If by WH policies you mean the relationship between the administration and the Saudi's then yeah, I would agree. The Saudi's, after all, control the spickets and there can certainly be influence and reciprocity there. At the same time, today, I wouldn't exactly call the relationship between the Biden Administration and the Saudi's warm and fuzzy. At this point, it's barely transactional. The Saudi's obviously prefer Trump, so they will leverage that. That's been baked into crude futures for some time now.
 
JackTripper said:
If by WH policies you mean the relationship between the administration and the Saudi's then yeah, I would agree. The Saudi's, after all, control the spickets and there can certainly be influence and reciprocity there. At the same time, today, I wouldn't exactly call the relationship between the Biden Administration and the Saudi's warm and fuzzy. At this point, it's barely transactional. The Saudi's obviously prefer Trump, so they will leverage that. That's been baked into crude futures for some time now.
Click to expand...
No, WH policies like canceling the Keystone pipeline on day one.
 
Geo said:
No, WH policies like canceling the Keystone pipeline on day one.
Click to expand...
...Or how about the WH decision to allow Exxon and Mobil to merge notwithstanding the Sherman Antitrust Act so they could compete in the global nationalized markets? Of course, the WH can directly impact energy policy. But isn't this discussion right now about the WH manipulating prices lower before an election?

If the Biden Administration wanted to manipulate prices lower, wouldn't it make sense for them to reverse policy on the Keystone pipeline? Seems it would be a lot easier than having to kiss the ass of the Saudi Prince, doesn't it?
 
JackTripper said:
. But isn't this discussion right now about the WH manipulating prices lower before an election?
Click to expand...
No, I commented on this, then you commented on what I said.

Screenshot 2024-09-20 153812.jpg
 
Geo said:
No, I commented on this, then you commented on what I said.
Click to expand...

Maybe I need a flowchart for this conversation. :LOL: Time for me to slide down the back of a dinosaur, my day is over. Have a good weekend.
 
  • Like
Reactions: Geo
You must log in or register to reply here.
 
Back
Top