Biden’s war on fossil fuel and gas price timeline

[JoeWeber 2,857]

2 hours ago, jimjumper said:

I work as a courier so I actually use my truck for a truck. My last truck, a small used 4 cylinder was 16K. My fuel reimbursement barely covers actual fuel right now. The same as most trucking and delivery operations. Just lifting federal and state taxes would reduce gas by over a $1 a gallon. CA generated $97 Billion! in surplus tax revenue last year and the Governor is still planning to continue the gas tax regular increases. Its absolutely galling to watch an out-of-touch with reality Governor gloating and a President telling me "I get it. Your frustrated!" They don't get it. I'll remember at the polls though...

Jim, my business is as focused on fuel costs as any. Sometimes, times suck. Now, we do not want to lose any of our incredible people so we are willing to give up on our end of the deal to make that happen. We are convinced we'll come out of this stronger and make back the profits. If you don't see that in your situation, well, opportunities abound.

[brenthutch 444]

10 hours ago, Phil1111 said:

Its great that you think about the poor. thanks.

The US gas average is $1.24 a liter. Here are the world prices. All in US prices. Norway is $2.58 a liter 69% of Norway's oil production is exported, 1.2 million barres a day. Norway's sovereign wealth fund earned $177 billion in interest last year. It represents the investment from oil sales and sits at $1.2 trillion.

In 2020 more than 70 percent of all cars sold in Norway were electric ones. I don't understand why Norway isn't in permanent recession.

You kinda answered your own question.

“It represents the investment from oil sales and sits at $1.2 trillion.”

 

[Phil1111 1,149]

1 hour ago, brenthutch said:

You kinda answered your own question.

“It represents the investment from oil sales and sits at $1.2 trillion.”

 

Only in the minds of republicans. For anyone else it represents responsibility. Something that republicans give lip service to. But never actually hold as a core value.

[airdvr 210]

12 hours ago, JerryBaumchen said:

Hi airdvr,

No one forced them to buy a car that they cannot afford to put gas into.

Maybe they should have thought of that prior to purchase, no?

I'll cry no tears for them.

Jerry Baumchen

I'm not talking about trucks.  Your average person can't afford a truck like that.

Do you agree that these gas prices hurt the poor most?

[SkyDekker 1,465]

13 hours ago, brenthutch said:

You are still confusing the DOW with the greater economy.

What does the DOW do when there is fear of an economic recession?

[kallend 2,114]

13 hours ago, jimjumper said:

I work as a courier so I actually use my truck for a truck. My last truck, a small used 4 cylinder was 16K. My fuel reimbursement barely covers actual fuel right now. The same as most trucking and delivery operations. Just lifting federal and state taxes would reduce gas by over a $1 a gallon. CA generated $97 Billion! in surplus tax revenue last year and the Governor is still planning to continue the gas tax regular increases. Its absolutely galling to watch an out-of-touch with reality Governor gloating and a President telling me "I get it. Your frustrated!" They don't get it. I'll remember at the polls though...

How do you think the highways, tunnels and bridges you drive on should be paid for? 

[billvon 3,085]

1 minute ago, kallend said:

How do you think the highways, tunnels and bridges you drive on should be paid for? 

By everyone's favorite sort of tax - a tax on someone else.

[JerryBaumchen 1,451]

3 hours ago, airdvr said:

I'm not talking about trucks.  Your average person can't afford a truck like that.

Do you agree that these gas prices hurt the poor most?

Hi airdvr,

Inflation always hurts the poor the most.  Gas price increases are nothing like food price increases.

However, when you look at all the people here and their costs for basic essentials, they are better off than a lot of people around the world.

If you are really concerned about the poor, then you would support a re-distribution of wealth in the country.  Something that I support.

I live alone in a 2,000 sq ft house.  I do not need it.  I increased the size to make money when it is sold.

IMO people here should quit complaining about the prices of gas, it is cheaper than almost any other place in the world.

We've always had cheap gas here.  People simply want that to never change.

Jerry Baumchen

[Phil1111 1,149]

18 hours ago, jimjumper said:

I work as a courier so I actually use my truck for a truck. My last truck, a small used 4 cylinder was 16K. My fuel reimbursement barely covers actual fuel right now. The same as most trucking and delivery operations. Just lifting federal and state taxes would reduce gas by over a $1 a gallon. CA generated $97 Billion! in surplus tax revenue last year and the Governor is still planning to continue the gas tax regular increases. Its absolutely galling to watch an out-of-touch with reality Governor gloating and a President telling me "I get it. Your frustrated!" They don't get it. I'll remember at the polls though...

No disrespect. I know exactly how it can squeeze you. Now is the time to look for another job. Perhaps one where you can really grind the parties involved for tips. I can assure you its not going to get better no matter how you vote.

[Phil1111 1,149]

4 hours ago, JerryBaumchen said:

Hi airdvr,

I live alone in a 2,000 sq ft house.  I do not need it.  I increased the size to make money when it is sold....

We've always had cheap gas here.  People simply want that to never change.

Jerry Baumchen

I had the same discussion with my sister. She is in 1150 sq ft with a full basement so 2300 sq ft and is single. I'm single in 2400 ft. sq. Its ridiculous.

Sometimes people just don't know how good they have it.

[brenthutch 444]

6 hours ago, SkyDekker said:

What does the DOW do when there is fear of an economic recession?

Drop seven weeks in a row.  Next question.

[SkyDekker 1,465]

16 minutes ago, brenthutch said:

Drop seven weeks in a row.  Next question.

Do you ever get tired of lying?

[Phil1111 1,149]

39 minutes ago, SkyDekker said:

Do you ever get tired of lying?

You're so silly. He's a republican so lying in in the DNA.

[brenthutch 444]

37 minutes ago, SkyDekker said:

Do you ever get tired of lying?

What part of “recession is already priced into the market” eludes you.

 https://www.cnbc.com/2022/05/17/stock-market-news-open-to-close.html

 

“The Dow has declined for seven straight weeks”

[jimjumper 25]

6 hours ago, kallend said:

How do you think the highways, tunnels and bridges you drive on should be paid for? 

With the $97 Billion in surplus taxes raked in last year! CA is awash in money. The state and the Governor are absolutely tone-deaf to the plight of the poor and middle-class to keep taking taxes when they are literally throwing money at everything possible to keep from having to give it back. Stop with the excessive spending!

[SkyDekker 1,465]

5 minutes ago, brenthutch said:

What part of “recession is already priced into the market” eludes you.

Do even higher than anticipated interest rates increase or decrease the coming recession?

[airdvr 210]

6 hours ago, JerryBaumchen said:

Hi airdvr,

Inflation always hurts the poor the most.  Gas price increases are nothing like food price increases.

However, when you look at all the people here and their costs for basic essentials, they are better off than a lot of people around the world.

If you are really concerned about the poor, then you would support a re-distribution of wealth in the country.  Something that I support.

I live alone in a 2,000 sq ft house.  I do not need it.  I increased the size to make money when it is sold.

IMO people here should quit complaining about the prices of gas, it is cheaper than almost any other place in the world.

We've always had cheap gas here.  People simply want that to never change.

Jerry Baumchen

Gas prices like this drive inflation.  Everything that is delivered to you uses a petroleum product.  I have a full sized pickup, 2 boats, and a Z/28.  I'm not complaining.  I can afford it.  I'm extremely blessed to be able to have these things however, when gas gets to this level it begins dragging the economy down by way of reducing discretionary spending.

[jimjumper 25]

1 hour ago, Phil1111 said:

No disrespect. I know exactly how it can squeeze you. Now is the time to look for another job. Perhaps one where you can really grind the parties involved for tips. I can assure you its not going to get better no matter how you vote.

I think I'll give it a try though! It seems like the state government has enough money, it really needs a working budget.

[SkyDekker 1,465]

3 minutes ago, jimjumper said:

With the $97 Billion in surplus taxes raked in last year! CA is awash in money. The state and the Governor are absolutely tone-deaf to the plight of the poor and middle-class to keep taking taxes when they are literally throwing money at everything possible to keep from having to give it back. Stop with the excessive spending!

Thought it was pretty widely accepted that that surplus comes from increased income from the richest Californians? Are you in favour of distributing that wealth to poorer people?

[SkyDekker 1,465]

3 minutes ago, airdvr said:

Gas prices like this drive inflation.  Everything that is delivered to you uses a petroleum product.  I have a full sized pickup, 2 boats, and a Z/28.  I'm not complaining.  I can afford it.  I'm extremely blessed to be able to have these things however, when gas gets to this level it begins dragging the economy down by way of reducing discretionary spending.

With you being this concerned for the cost inflation to the poor, you must be having a few less trips on those boats and donating that money to your local food bank and using that full size truck to drive seniors to cancer appointments.

[brenthutch 444]

3 minutes ago, SkyDekker said:

Do even higher than anticipated interest rates increase or decrease the coming recession?

You tell me

https://en.wikipedia.org/wiki/Paul_Volcker

[SkyDekker 1,465]

1 minute ago, brenthutch said:

You tell me

https://en.wikipedia.org/wiki/Paul_Volcker

I am asking you. Do even higher than anticipated interest rates increase or decrease the coming recession?

[airdvr 210]

1 minute ago, SkyDekker said:

With you being this concerned for the cost inflation to the poor, you must be having a few less trips on those boats and donating that money to your local food bank and using that full size truck to drive seniors to cancer appointments.

My concern is a POTUS who has petroleum in his sites during a time when the economy is already suffering.

[brenthutch 444]

3 minutes ago, SkyDekker said:

With you being this concerned for the cost inflation to the poor, you must be having a few less trips on those boats and donating that money to your local food bank and using that full size truck to drive seniors to cancer appointments.

[Phil1111 1,149]

3 minutes ago, airdvr said:

Gas prices like this drive inflation.  Everything that is delivered to you uses a petroleum product.  I have a full sized pickup, 2 boats, and a Z/28.  I'm not complaining.  I can afford it.  I'm extremely blessed to be able to have these things however, when gas gets to this level it begins dragging the economy down by way of reducing discretionary spending.

 

Above US existing home sales "Sales went down for a third consecutive month, in another sign the housing market is cooling, as higher home prices and mortgage rates have reduced buyer activity."

New Homes Sales Tumble in April, Down Nearly 27% From a Year Ago

Its ok though. Home Prices Have Begun Falling: Here Are the Cities Where They’re Down the Most

Lower home prices help the poor!