What are you guys paying for gas?

To some degree, but the reversal on policy from 45 relative to 44's position on Keystone is the same thing. Similarly, the boundary waters mining issue, ANWR, leasing reforms, methane rule, WOTUS, etc.

Jesus, we're still fighting over WSA's and Roadless areas some 30-40 years after those were established.

It's almost as if the political class wants us at each other's throats, rather than quietly & thoughtfully examining an issue.
It wasn't Trump reversing the policy of Obama. It was his USA first and making us energy independent. Biden comes into office and shuts everything down. Prices go up and continue to rise. Biden then begs Russia and OPEC to pump more. They sit back and laugh at him. Now we are heading into winter with some of the highest predicted prices for natural gas and oil. Who suffers, the poor and the elderly on fixed incomes.
 
When I got out of high school gas was about a dollar a gallon and rent for a 2 bed room house was about 200 dollars a month.
Now gas is 3.35 a gallon and rent is 1,200 dollars a month on the same 40 year older house.
The same comparison can be made with a whole bunch of other necessary items.
So, BFD
 
Only $3.56 just last nite. Saw $3.65 at the same station within the last 2 weeks.
Our slimy governor adds to this debacle.
 
Depends on the price of O&G and the debt the companies are carrying. This one is up well over 70% in the last year. Good investment or bad? Im holding my shares.. Time will tell if it was the smart thing to do.

Good call.......
NASDAQ:APA https://g.co/kgs/D49kRt
 
It wasn't Trump reversing the policy of Obama. It was his USA first and making us energy independent. Biden comes into office and shuts everything down. Prices go up and continue to rise. Biden then begs Russia and OPEC to pump more. They sit back and laugh at him. Now we are heading into winter with some of the highest predicted prices for natural gas and oil. Who suffers, the poor and the elderly on fixed incomes.

The United States has never been "energy independent." And Trump never put America first. ALl of those tarriffs and trade wars created a huge component of the supply chain issues, along with the rapid economic recovery once pandemic restrictions were lifted. ALl of us remember that it's been a few years since the price of lumber, steel, aluminum, etc has been what it used to be, right? Because I sure as heck do.


But if you want to parse this out, Trump's term saw more imports from other nations than Biden's first year in office.

Biden also has not shut everything down. There is a temporary pause in leasing and the restrictions on leasing within core sage grouse areas are back in play, after the previous administration illegally disregarded that. Furthermore, it's the demand for oil thatis increasing the price, not anything that the government is doing. In 2020, we saw historic lows because nobody was driving to work, etc. A pandemic has that effect on gasoline & Avgas consumption.

The price of crude determines what gets drilled and what doesn't. Cost of recovery is the biggest concern, but I'm willing to be corrected by @wllm1313 because he actually works in the industry & understands it far better than any of us. There are currently 36 million acres of public lands leased for oil & gas production. Those leases connote a right to drill. Those companies stack leases for a variety of reasons, chief among them is to attract investors.

OPEC is the largest producer of oil in the world, and they are holding back production to raise prices. Russia is a major producer as well, and what Biden did was waive sanctions against one company relative to a pipeline due to concerns that Germany, our ally, had due to the perceived harsh sanctions that were put in place. I don't agree with lifting sanctions on any Russian company, btw, so I'm not trying to make it look like 46 is some great President. He isn't. And I totally agree that politicians are sitting back and laughing at us. All of them. With a few exceptions on both sides.
 
It wasn't Trump reversing the policy of Obama. It was his USA first and making us energy independent. Biden comes into office and shuts everything down. Prices go up and continue to rise. Biden then begs Russia and OPEC to pump more. They sit back and laugh at him. Now we are heading into winter with some of the highest predicted prices for natural gas and oil. Who suffers, the poor and the elderly on fixed incomes.

"Presidents publicly fretted for decades about the loss of energy independence for the U.S. They tried many different approaches to solving this problem—from serious intervention in the energy markets to letting the free market solve the problem. Many billions of dollars were spent on programs with the intent of eliminating dependence on foreign oil.

Yet in 1969, Americans depended on oil imports for 10% of their consumption, and in 2008 that number had risen to over 50% of consumption. That trend was only reversed when fracking caused U.S. oil production to surge.

Thus, a president may have some impact on U.S. oil production, but it is mostly a factor of influences well beyond their control."

 
"Presidents publicly fretted for decades about the loss of energy independence for the U.S. They tried many different approaches to solving this problem—from serious intervention in the energy markets to letting the free market solve the problem. Many billions of dollars were spent on programs with the intent of eliminating dependence on foreign oil.

Yet in 1969, Americans depended on oil imports for 10% of their consumption, and in 2008 that number had risen to over 50% of consumption. That trend was only reversed when fracking caused U.S. oil production to surge.

Thus, a president may have some impact on U.S. oil production, but it is mostly a factor of influences well beyond their control."

In your opinion do you believe OPEC and Russia intentionally drove down oil prices to cripple or shut down US fracking operations?
 
In your opinion do you believe OPEC and Russia intentionally drove down oil prices to cripple or shut down US fracking operations?
There is a self loathing segment that is cheering for US energy companies to go bankrupt, but I don't think they will be happy campers when they get what they want.
 
In your opinion do you believe OPEC and Russia intentionally drove down oil prices to cripple or shut down US fracking operations?
I think that was absolutely part of the calculus. The US production segment is the only major global production wedge that you can’t price fix, Trump/Biden whoever can’t negotiate with Russia/OPEC for a production quota, so driving US operators out of business is kinda the only card they have.

It also more or less worked.

Price stabilizing through production quotas has been tried in the US before, but never really worked.

The Prize by Daniel Yergin is a great read if your interested in the history of OG.
 
It wasn't Trump reversing the policy of Obama. It was his USA first and making us energy independent. Biden comes into office and shuts everything down. Prices go up and continue to rise. Biden then begs Russia and OPEC to pump more. They sit back and laugh at him. Now we are heading into winter with some of the highest predicted prices for natural gas and oil. Who suffers, the poor and the elderly on fixed incomes.
I'm certainly not poor or elderly, but if gas prices keep going in this direction, I'm going to wish I was poor and didn't have a vehicle or 225hp boat motor to keep gassed up. Or wish I was old enough to not give a shit what's happening in a few years...
 
I'm certainly not poor or elderly, but if gas prices keep going in this direction, I'm going to wish I was poor and didn't have a vehicle or 225hp boat motor to keep gassed up. Or wish I was old enough to not give a shit what's happening in a few years...
Agree, same boat for all of us. But the elderly get hit especially hard and will try to make do without. Look at the summer time during a heat wave, they have no AC and will close their windows to "keep the heat out". Neighbors the notice a smell or in one case here in the city I live in, besides the smell notice a large amount of flies in the widows. Police make forced entry only to find an elderly person who died. Winter time just the opposite, if they can't afford the heat, they will turn the t-stats all of the way down and try to get by only to have their core temp drop, or they turn the oven on nd prop the door open and end up having a fire.
 
We dropped to $3.54 a gallon for regular which was due in part to the announcement of Omicron. Costco is at $3.39. Normally for them they are on average $0.30 a gallon cheaper so right now its now worth driving there to fill up.
 
Diesel:
Last week in Oklahoma paid$3.09
-this week wyoming 3.89
- yesterday Billings Costco 3.58
Now Wyoming talking about raising fuel taxes by .15 over 3 years...
 
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