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Forum ยป Oil trading at 114 a barrel right now.
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Thread: Oil trading at 114 a barrel right now.

post 1661914013 05-26-2022, 11:12 AM
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Oil trading at 114 a barrel right now.

How high is gas about to go? I've been following the price of oil for the last weeks and it's been holding 110 and under for a while. Are we heading to 7 bucks a gallon?
post 1661914813 05-26-2022, 11:23 AM
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Probably. I've already seen $6 a gallon in Chicago, $7 a gallon for premium.
post 1661915073 05-26-2022, 11:28 AM
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  1. RICHSTRONG
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Memorial weekend is upon us. For some odd reason it always trades higher right before a driving holiday but i have a feeling..this time it will stick. Onwards and upwards boyos...the great transition is upon us.
See monster0ultra's sig
post 1661915143 05-26-2022, 11:28 AM
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It's only been suppressed lately because China locked down most of their population again. I expect $7 a gallon for the US average easily.
post 1661915193 05-26-2022, 11:29 AM
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Gas was cheaper in Waikiki hawaii than in California. We're fuked.
post 1661915433 05-26-2022, 11:32 AM
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Very cool! Paid $5.66 last time I got gas and CANNOT WAIT to pay $6.66then $7.66 then
Originally Posted By RICHSTRONG⏩
...the greattransition is upon us.
I see what you did there
๐—ฃ๐—จ๐—ฅ๐—˜๐—•๐—Ÿ๐—ข๐—ข๐——
ฯ‰ฯƒัโ„“โˆ‚ ั‚ัฮฑฮฝั”โ„“ั”ั ศผัั”ฯ‰ โ‚…โ‚€/โ‚โ‚‰โ‚…
๐•ฌ๐–Š๐–˜๐–™๐–๐–Š๐–™๐–Ž๐–ˆ๐–†๐–‘๐–‘๐–ž ๐•ฎ๐–š๐–™ ๐•ธ๐–†๐–˜๐–™๐–Š๐–— ๐•ฝ๐–†๐–ˆ๐–Š ยฎ
แ—ชIแ”•แ‘•แ–‡Iแ—ฐIแ‘Žแ—ฉTIOแ‘Ž Eแ™ญแ‘•แ’ชแ‘Œแ”•IOแ‘Ž Iแ‘Žแ—ชOแ‘•Tแ–‡Iแ‘Žแ—ฉTIOแ‘Ž
post 1661915493 05-26-2022, 11:33 AM
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Gas is probably going to whatever level actually stops people from driving enough to balance demand with supply

Where I'm at right now, regular gas is already $7/gallon CAD or $5.50/gallon USD. It's not stopping anyone, the highway was packed with trucks pulling trailers and boats for last long weekend
post 1661915553 05-26-2022, 11:35 AM
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you WILL drive the electric car.
post 1661915583 05-26-2022, 11:35 AM
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Faurk guess I better fill up today
post 1661915883 05-26-2022, 11:41 AM
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Originally Posted By jimmybobjim⏩
you WILL drive the electric car.
Is it even possible given the materials needed to produce them, how many we'd actually need to replace every regular car out there now, and the infrastructure to charge them all?

inb4 driving is reserved for an elite few, and everyone else will have to save up their goodboy points in order to be granted the privilege of taking a ride share nissan leaf once a month.
post 1661916143 05-26-2022, 11:45 AM
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Originally Posted By coast2coastam⏩
Is it even possible given the materials needed to produce them, how many we'd actually need to replace every regular car out there now, and the infrastructure to charge them all?

inb4 driving is reserved for an elite few, and everyone else will have to save up their goodboy points in order to be granted the privilege of taking a ride share nissan leaf once a month.
No itโ€™s not possible, and thatโ€™s without getting into people who donโ€™t have a garage to charge their vehicle overnight.

EV order books are already full, for years in some cases
post 1661916333 05-26-2022, 11:48 AM
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oh yeah biden likes it because we all should immediately have electric cars and delivery trucks by next week.
post 1661916383 05-26-2022, 11:49 AM
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Its gonna get more expensive. Crude is a global market, with russia being a key player. The longer this goes on and the more tension there is with russia and europe regarding oil supply, the higher it goesโ€ฆ

According to germany, the eu is going to place an embargo on russian oil soon. That surely will not help the prices. Buy some jugs and fill em up boys.
post 1661916533 05-26-2022, 11:50 AM
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An interesting fact is the dollar is actually very strong right now in terms of currency index (DXY)

Usually oil rises on weaker dollar.
post 1661916553 05-26-2022, 11:51 AM
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Originally Posted By jimmybobjim⏩
you WILL drive the electric car.
Ya i would, but i already have 2 gasoline car lol.. brb selling them then paying 200k to replace them with the electric equivalents. Fmlโ€ฆ
post 1661916633 05-26-2022, 11:52 AM
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Originally Posted By exxtracool⏩
Its gonna get more expensive. Crude is a global market, with russia being a key player. The longer this goes on and the more tension there is with russia and europe regarding oil supply, the higher it goesโ€ฆ

According to germany, the eu is going to place an embargo on russian oil soon. That surely will not help the prices. Buy some jugs and fill em up boys.
"It'S a SmAlL pRiCe To PaY!"
post 1661916663 05-26-2022, 11:52 AM
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Originally Posted By RICHSTRONG⏩
the great transition is upon us.
Inb4 my gas tank grows a frankenpussy
SPOT SOLD TO FROGTECH - 100% NATURAL GENETIC FROG FIBRES

see Krackerjacked's sig

never underestimate the slootiness of a sloot
-DrugsToGetBig

ratchet girls love the ebt flex
-havoc00
post 1661916853 05-26-2022, 11:56 AM
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Rip Libs in the midterms
*Firefighter-Paramedic Crew*
*HTC Crew*
*White Zero Ultra Monster Crew*
*2A Crew*
*Conservative Crew*
post 1661916993 05-26-2022, 11:58 AM
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Originally Posted By kingHanley⏩
Rip Libs in the midterms
Inb4 Monkey Pox mail in voting.
post 1661917213 05-26-2022, 12:01 PM
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I remember just a few years ago when the bottom fell out and they couldnt give away oil.

Now tell me this isnt artificially created again.
For every man, there is a sentence, a string of words, that has the power to destroy him
"The strong do what they can, and the weak suffer what they must" -Thucydides
Shall not be Infringed. FUK CHINA.
post 1661917813 05-26-2022, 12:09 PM
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No mean tweets though guys. Just remember that your feelings have been spared as you pay 100$ to fill up your car.
post 1661918013 05-26-2022, 12:12 PM
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#22
  1. RICHSTRONG
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Originally Posted By kingHanley⏩
Rip Libs in the midterms
Can't blame Biden...i mean he did try to send Kamala over there prior to quell the invasion.
See monster0ultra's sig
post 1661918073 05-26-2022, 12:13 PM
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Democrats want to see higher gas prices. The higher the price, the happier many Democrats are. Don't know how high oil and gas prices will reach, but have read some Democrats saying $10 a gallon for gas works well for them.

Saw this today about Biden's gimmick

"Republicans slam Biden for draining oil reserves as gas prices remain at record high
Republicans call on Granholm to testify about replenishing the strategic petroleum reserve"

https://www.foxbusiness.com/politics...in-record-high
post 1661918693 05-26-2022, 12:23 PM
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Originally Posted By Destor⏩
Gas is probably going to whatever level actually stops people from driving enough to balance demand with supply

Where I'm at right now, regular gas is already $7/gallon CAD or $5.50/gallon USD. It's not stopping anyone, the highway was packed with trucks pulling trailers and boats for last long weekend
Gas demand is very inelastic. You can't not go to work cause gas is too expensive. Still have to deliver food to stores or people starve. Prices can shoot up but people still have to buy it. People will cut back on vacations and entertainment, but that's actually a very small piece of fuel consumption.

QUOTE=coast2coastam;1661915883]Is it even possible given the materials needed to produce them, how many we'd actually need to replace every regular car out there now, and the infrastructure to charge them all?

inb4 driving is reserved for an elite few, and everyone else will have to save up their goodboy points in order to be granted the privilege of taking a ride share nissan leaf once a month.[/QUOTE]

Pretty much. We'll run out of known recoverable lithium by 2040 at current build out rates. Even with the most optimistic projections of future lithium deposit discoveries and with 0% waste battery recycling, we might make it to 2100.
post 1661918763 05-26-2022, 12:25 PM
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i've got 40 barrels stacked in my backyard

gonna unload them at $200/bbl and make a cool 6 large

told you guys to stock up at $50/bbl
Make Europe Germany Again
post 1661918903 05-26-2022, 12:27 PM
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#26
  1. Destor
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Originally Posted By PepperedAngus⏩
I remember just a few years ago when the bottom fell out and they couldnt give away oil.

Now tell me this isnt artificially created again.
If you're talking about price manipulation, that's not realistic.

The world produced 95million barrels per day in 2021. At $114/barrel, that's $10.83billion/day revenue, a $4trillion per year market just in oil without getting into all the products it creates including gasoline and diesel.

If companies/countries could pump out more oil to capitalize on these prices, which is how commodities like oil balance themselves out, they would be pumping more oil.
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