Nov 2019-Mar 2020
Similar and slightly higher production to Aug 2023
https://ycharts.com/indicators/us_cr...20oil%20fields.
Why are prices so much higher now compared to then?
The latest excuse is WWIII, presumably just around the corner.
Look at the 5 Yr chart.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
I did??? That's why I posted what I posted.Originally Posted by dannno
Inflation can't be most of that. OPEC setting production lower?
price chart I'm using
https://www.eia.gov/dnav/pet/hist/Le...te_nus_dpg&f=m
2015 2.208 2.301 2.546 2.555 2.802 2.885 2.880 2.726 2.462 2.387 2.260 2.144 2016 2.057 1.872 2.071 2.216 2.371 2.467 2.345 2.284 2.327 2.359 2.295 2.366 2017 2.458 2.416 2.437 2.528 2.503 2.460 2.414 2.494 2.761 2.621 2.678 2.594 2018 2.671 2.705 2.709 2.873 2.987 2.970 2.928 2.914 2.915 2.943 2.736 2.457 2019 2.338 2.393 2.594 2.881 2.946 2.804 2.823 2.707 2.681 2.724 2.693 2.645 2020 2.636 2.533 2.329 1.938 1.961 2.170 2.272 2.272 2.274 2.248 2.200 2.284 2021 2.420 2.587 2.898 2.948 3.076 3.157 3.231 3.255 3.272 3.384 3.491 3.406 2022 3.413 3.611 4.322 4.213 4.545 5.032 4.668 4.087 3.817 3.935 3.799 3.324 2023 3.445 3.501 3.535 3.711 3.666 3.684 3.712 3.954
I'm sure there are a lot of variables at play including international supply, but the prices now are lower on average than last year. Probably due in part to our increased production. The Biden admin increased production because gas prices were going up and it made them look bad. They difference is they aren't doing it because they care about us, they are doing it because they care about their elections.
Some far left climate activists have been complaining to the Biden admin about the increased production. Regular leftists are defending the Biden admin, claiming that these far left climate activists are probably Trump supporters.. while also claiming that Republicans are responsible for the alleged climate emergency.. at least the far left climate activists complaining are remaining consistent.
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
"He's talkin' to his gut like it's a person!!" -me
"dumpster diving isn't professional." - angelatc
"You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
"When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q
"Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul
"Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."
It's because of "corporate greed". Duh!
The Bastiat Collection · FREE PDF · FREE EPUB · PAPER Frédéric Bastiat (1801-1850)
- "When law and morality are in contradiction to each other, the citizen finds himself in the cruel alternative of either losing his moral sense, or of losing his respect for the law."
-- The Law (p. 54)- "Government is that great fiction, through which everybody endeavors to live at the expense of everybody else."
-- Government (p. 99)- "[W]ar is always begun in the interest of the few, and at the expense of the many."
-- Economic Sophisms - Second Series (p. 312)- "There are two principles that can never be reconciled - Liberty and Constraint."
-- Harmonies of Political Economy - Book One (p. 447)· tu ne cede malis sed contra audentior ito ·
"UBAI, United Arab Emirates − Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices."
https://www.usatoday.com/story/money...s/70768020007/
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