Can someone please explain the economics
- Thread starter PieterCoetzee
- Start date
Retired Bum
Operator
I don't know what the gas prices are, since I haven't filled up the tank in 3 months. There are advantages to disability! Plus there's people out there, I think I'll stay inside...
OldGrunt
Professional
Here is another thought that no one has talked about. Refineries. US refineries are mostly set up to refine heavy crude oil. Which comes from the middle east, South America, Canada. Crude oil pumped from US wells is light, sweet crude oil. We export our own crude oil because for the most part, we don't have the refineries to process it. We import all kinds of heavy crude oil because that is the type of oil our refineries can refine. You would think we would build our own refineries to refine our own crude oil. We don't. And it has been years since any new refineries have been built. It's time to refine our own oil and be truly energy independent.
powerboatr
Hellcat
diesel today here at murphy 4.29
last monday 2.99
AIF showed straits of Hormuz almost devoid of ship traffic (tankers and bulk carriers)
even though we as a nation produce 20 % or world crude and much more refined product
irans oil was never in the equation with less than 5%
but the other arab gulf producers are now at a stand still until tensions let up or we start escorting ships like before
last monday 2.99
AIF showed straits of Hormuz almost devoid of ship traffic (tankers and bulk carriers)
even though we as a nation produce 20 % or world crude and much more refined product
irans oil was never in the equation with less than 5%
but the other arab gulf producers are now at a stand still until tensions let up or we start escorting ships like before
PieterCoetzee
Custom
OK so today the price of oil dropped from over $100 a barrel to $85 a barrel. Ships are moving through the Straights of Homos, soooooo I guess we can trust the price of gas to DROP just as fast as it went up (sarcasm)
If it doesnt drop can we then agree somebody is bending us over
If it doesnt drop can we then agree somebody is bending us over
Retired Bum
Operator
There is always somebody in line to manipulate the US people
Talyn
Emissary
As the war with Iran raises concerns about threats to oil exports from the Persian Gulf, we are resurfacing a primer on the geopolitics of oil. The article is a few years old, but the fundamentals it explains remain unchanged.
Anand Toprani walks through why oil markets are uniquely sensitive to geopolitical shocks. Even though the United States does not rely on Gulf oil for its own domestic supply, disruptions there — such as interference with shipping through the Strait of Hormuz — can ripple through the global economy.
Here
V
Anand Toprani walks through why oil markets are uniquely sensitive to geopolitical shocks. Even though the United States does not rely on Gulf oil for its own domestic supply, disruptions there — such as interference with shipping through the Strait of Hormuz — can ripple through the global economy.
Here
V
A Primer on the Geopolitics of Oil
Last year was a wild one for the oil industry. Between January and October, oil prices rose to almost $80 per barrel — a 25 percent increase since the
warontherocks.com
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Anchorite
Custom
Economists sometimes refer to this as the rockets and feathers effect.
Here’s a link to the topic for you:
Oil and gas prices move together like rockets and feathers | FRED Blog
fredblog.stlouisfed.org