Now for some good news, gasoline prices are dropping

[18xoxo]

https://pbs.twimg.com/media/F7iRblaXsAATET4?format=png&name=900x900

 

[ll74]

Because the US is pumping more oil than ever

 

[18xoxo]

I posted because I know some of you blame Biden for rising oil prices, so its only fair to show this.

 

[spegil]

Because the US is pumping more oil than ever

no

 

[ll74]

no

Yes. The amount of oil produced this year will be the largest amount produced in a year ever.

 

[spegil]

this is why

Don’t Listen to Rosy Economic Forecasts: A Recession Is Coming.

 

[LLCox]

It will get even cheaper as the economy dies.

 

[ll74]

this is why

Don’t Listen to Rosy Economic Forecasts: A Recession Is Coming.

That has nothing to do with oil prices.

Dipshit

 

[spegil]

Yes. The amount of oil produced this year will be the largest amount produced in a year ever.

the OP was talking gasoline not oil

 

[spegil]

That has nothing to do with oil prices.

Dipshit

wow, you really are a big dummy

 

[ll74]

the OP was talking gasoline not oil

Yes, they are totally not related.

Good catch

 

[spegil]

 

[ll74]

wow, you really are a big dummy

Please, share the inflation chart and gas price chart month to month. I'm sure they are 1 to 1.

 

[Rob_Royale]

Yep. it was nice to gas up for 3.95 today. It's bloody sad that I feel that way too.

 

[RobDownSouth]

the OP was talking gasoline not oil

Gasoline prices track pretty closely to crude oil.
The nature of a commodity, y'know.
Dummy.

 

[spegil]

Gasoline prices track pretty closely to crude oil.
The nature of a commodity, y'know.
Dummy.

Oil is up

Gas is down

Dummy

 

[RobDownSouth]

Oil is up

Gas is down

Dummy

One data point is an anecdote.
Over time, they track pretty closely...not 100%, but close.
Blue = Average Murican Gasoline Price
Red = West Texas Crude (benchmark) Murican Oil Price
Dummy
https://i.imgur.com/8c0XzcH.png

 

[spegil]

This explains it! https://pbs.twimg.com/media/F7meCFYWoAAkKmc?format=jpg&name=900x900

 

[ll74]

I think Biden is no longer President because oil prices are down.

 

[Shaglus_Ziegler]

Because the US is pumping more oil than ever

No.

 

[ll74]

No.

Lol

 

[rainsol]

Prices are dropping because usage is down not up. The energy companies are bellweathers for coming recessions. Fedex and UPS Air Freight companys are forecasting recession in the near future.

 

[ll74]

Prices are dropping because usage is down not up. The energy companies are bellweathers for coming recessions. Fedex and UPS Air Freight companys are forecasting recession in the near future.

The US is producing more oil than ever

 

[Bray123]

No.

Yes. Production slumped during the Trump presidency but is now recovering.

https://www.statista.com/statistics/265215/us-oil-production-in-million-metric-tons/

 

[rainsol]

The US is producing more oil than ever

So what, its a global market. We pay the global price except in recession do you recall the price of gas in the bush recession?