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Started By
Message
re: Get ready for $5-a-gallon gasoline
Posted on 4/9/24 at 10:54 am to Goonie02
Posted on 4/9/24 at 10:54 am to Goonie02
quote:
you actually think, $70 per barrel is low?
OPEC thinks it's low...and if you read the post again I said it was to get the price up from the low 70s, not that 70 was low.
That being said, when adjusting for inflation, it is a historically low price/bbl.
This post was edited on 4/9/24 at 11:03 am
0
Posted on 4/9/24 at 11:50 am to LSUDVM1999
quote:
Iran and others are threatening a number of retaliatory measures, possibly shutting down the Strait of Hormuz in the Persian Gulf to tankers heading out out to Europe and elsewhere.
The Iranian navy would get their aquatic shite pushed in.
Posted on 4/9/24 at 12:01 pm to LSUDVM1999
nearly 2.0MM barrels of refining capacity have permanently come offline during past 3 yrs, so higher fuel prices are pretty much institutionalized until more is built, and not at all likely with existing administration. No CEO in the world would invest in new greenfield capacity during the past few years or they would be fired by the board. Stockholders demand nearly 40% hurdle rate for capital projects or they want dividends and buybacks. There is carte blanch refusal to spend capital in Cali btw so no relief coming for them.
Posted on 4/9/24 at 12:19 pm to LSUDVM1999
Here's hoping it does and stays there through election day. Only way some of these retards are going to understand is pain.
Posted on 4/9/24 at 12:23 pm to Tigrenutz
quote:
No CEO in the world would invest in new greenfield capacity
They couldn't get it permitted if they wanted to invest in it...
Posted on 4/9/24 at 12:23 pm to Tigrenutz
quote:
nearly 2.0MM barrels of refining capacity have permanently come offline during past 3 yrs, so higher fuel prices are pretty much institutionalized until more is built, and not at all likely with existing administration. No CEO in the world would invest in new greenfield capacity during the past few years or they would be fired by the board. Stockholders demand nearly 40% hurdle rate for capital projects or they want dividends and buybacks. There is carte blanch refusal to spend capital in Cali btw so no relief coming for them.
This is one of the main components.
Posted on 4/9/24 at 12:26 pm to Goonie02
quote:
you actually think, $70 per barrel is low?
Curious what you think the price of oil should be.
I personally wouldn’t call 70 “low”, but if you did get to a low mark like 45, you’d see American E&Ps not currently on this blowing and going rate. You would see production in the U.S. start to decrease.
This post was edited on 4/9/24 at 12:28 pm
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