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$3.69-$3.89 Where/when does it end?


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4 hours ago, deerslayer said:

I did.  Twice.  I noticed you left out this part:

OPEC+ is hoping that nations outside of the group, including the U.S., Canada and Norway, will also cut back on production in an effort to shore up prices. For his part, Trump has noted that market forces would naturally curb output stateside, after previously stopping short of saying the U.S. would scale back production.

So again, how much was US oil production reduced as a result of this agreement?

None as a result of the agreement.  Clearly it states that "market forces" would naturally curb stateside output.  How much was it?  No idea.  Oil is a global commodity with the cost pegged across teh world.  If its $50 a barrel or $100 a barrel or $2000 a barrel its the ####ing same. What is your point? Do you think shell or whatever other gas company would decide to keep the good stuff for us?  Give us that player price instead of selling it to whoever was paying?

Edited by Daniel
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9 hours ago, Daniel said:

None as a result of the agreement.  Clearly it states that "market forces" would naturally curb stateside output.  How much was it?  No idea.  Oil is a global commodity with the cost pegged across teh world.  If its $50 a barrel or $100 a barrel or $2000 a barrel its the ####ing same. What is your point? Do you think shell or whatever other gas company would decide to keep the good stuff for us?  Give us that player price instead of selling it to whoever was paying?

Trump brokered a deal with OPEC for THEM to reduce oil production during a time when oil was already cheap and the world was suddenly faced with a drastic reduction in demand due to people staying home during the pandemic.  Your CNBC oil expert paints a pretty grim picture:

The sharp decline in oil prices spurred giant capex and job cuts across the U.S. shale industry, which has some of the highest production costs in the world.

 

Trump initially thought the price war between OPEC an Russia would be a good thing for American consumers, but

But Yergin said: ”(Trump) came to see this as a national security issue, also an employment issue, and a very important factor in the U.S. economy … and he just jumped in.”

 

So the point is, at a time when there was surplus oil and prices were in danger of crashing, Trump convinced OPEC to cut production, but we made no such commitment.  The apparent result was he maintained American energy production and saved American jobs in the process.  

Did you even read the entire article?

Edited by deerslayer
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I've always used pump diesel in my tractor, as I really don't burn all that much doing chores around my property. But with the current price of fuel I'm thinking that saving the $0.28 a gallon in taxes might be worthwhile. I know I cannot used dyed fuel in my pickup truck, but what other rules apply? Do I need a special permit to buy dyed diesel? And how do you find the stuff? I don't think I've ever noticed it for sale anywhere around me.

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18 minutes ago, Darrell said:

I've always used pump diesel in my tractor, as I really don't burn all that much doing chores around my property. But with the current price of fuel I'm thinking that saving the $0.28 a gallon in taxes might be worthwhile. I know I cannot used dyed fuel in my pickup truck, but what other rules apply? Do I need a special permit to buy dyed diesel? And how do you find the stuff? I don't think I've ever noticed it for sale anywhere around me.

We use dyed diesel in anything farm related and exclusively buy it from the local CO-OP and are tax exempt through the farm.

It's hilarious to watch the local news this morning saying "Putin's War" is starting to put strain on farmers nationwide LMAO. Shows how out of f*ckin touch people are. Farmers have been getting ass raped on fertilizer for a while. Anyone want to guess when it really hit ? I can give you a hint and it was long before ol Vlad was polishing up his war helmet.

 

Edited by FUJIMO
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5 minutes ago, Darrell said:

I've always used pump diesel in my tractor, as I really don't burn all that much doing chores around my property. But with the current price of fuel I'm thinking that saving the $0.28 a gallon in taxes might be worthwhile. I know I cannot used dyed fuel in my pickup truck, but what other rules apply? Do I need a special permit to buy dyed diesel? And how do you find the stuff? I don't think I've ever noticed it for sale anywhere around me.

While I can’t point you to a specific location around you, if you check with your local farmers co-op they usually have dyed farm diesel.

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17 minutes ago, Darrell said:

I've always used pump diesel in my tractor, as I really don't burn all that much doing chores around my property. But with the current price of fuel I'm thinking that saving the $0.28 a gallon in taxes might be worthwhile. I know I cannot used dyed fuel in my pickup truck, but what other rules apply? Do I need a special permit to buy dyed diesel? And how do you find the stuff? I don't think I've ever noticed it for sale anywhere around me.

I'd say you're probably looking at going to Harriman Co Op to get it Darrell. Or Crossville depending on the distance. I always take several additional jugs or a drum with a transfer crank since i can't bring the tractor to the CO OP.

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1 hour ago, Chucktshoes said:

if you check with your local farmers co-op they usually have dyed farm diesel

I go past the local co-op fairly often, and have bought a few things there but never paid any attention to whether they had dyed diesel or not. I'll stop and talk with them. Thanks!

I don't burn a lot of diesel in my tractor, I buy 25 or 30 gallons in jugs every few months. Still.....

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8 hours ago, Darrell said:

I go past the local co-op fairly often, and have bought a few things there but never paid any attention to whether they had dyed diesel or not. I'll stop and talk with them. Thanks!

I don't burn a lot of diesel in my tractor, I buy 25 or 30 gallons in jugs every few months. Still.....

If they have pumps, they’ll have farm diesel. Just go in and fill out whatever paperwork they have. I just buy road diesel. I’m like you and only buy it once or twice a year. Not worth the hassle for me.

Edited by gregintenn
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If you use pump diesel ( or gasoline) for farm purposes you can recover the federal fuel taxes at tax time by filing a form.

{IRS 4136}. Probably need to have farm or other off road expenses and income .  I know farm income is one of the uses that qualifies.

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10 hours ago, deerslayer said:

Trump brokered a deal with OPEC for THEM to reduce oil production during a time when oil was already cheap and the world was suddenly faced with a drastic reduction in demand due to people staying home during the pandemic.  Your CNBC oil expert paints a pretty grim picture:

The sharp decline in oil prices spurred giant capex and job cuts across the U.S. shale industry, which has some of the highest production costs in the world.

 

Trump initially thought the price war between OPEC an Russia would be a good thing for American consumers, but

But Yergin said: ”(Trump) came to see this as a national security issue, also an employment issue, and a very important factor in the U.S. economy … and he just jumped in.”

 

So the point is, at a time when there was surplus oil and prices were in danger of crashing, Trump convinced OPEC to cut production, but we made no such commitment.  The apparent result was he maintained American energy production and saved American jobs in the process.  

Did you even read the entire article?

Of course I read the entire thing.  Specifically where it laid that cut in production to a two year deal.  One that still hasnt expired.  I am well aware that the reason he sought to lower production was because we had excess.  You are missing the whole point though.  I agree with his premise.  What I dont agree with is the (R) laying the gas prices at the blame of the current POTUS based on oil costs that were always going to rise.

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1 hour ago, Daniel said:

Of course I read the entire thing.  Specifically where it laid that cut in production to a two year deal.  One that still hasnt expired.  I am well aware that the reason he sought to lower production was because we had excess.  You are missing the whole point though.  I agree with his premise.  What I dont agree with is the (R) laying the gas prices at the blame of the current POTUS based on oil costs that were always going to rise.

Well, that deal was made when there wasn't an anti-US energy administration in power.  Th price didn't have to increase this much.  

ETA:  I haven't read this agreement, but I bet there was some stipulation that all involved parties could renegotiate in the event of a crisis.  Whatever the case, the agreement was for two years and that was two years ago.  OPEC is free to do whatever they like, and lately they are telling Biden to eat sh*t.  

Edited by deerslayer
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50 minutes ago, Erik88 said:

Screenshot_20220314-192005-137.png

This is of course exactly what their shareholders and financiers have been demanding for several years now.  As long as the stock prices are correlated to the amount of cash returned to their investors, this won't change ...

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  • 2 weeks later...

Talked to my oldest son yesterday. He was in a wreck last year and had to buy a new truck. Of course the only thing he could find had a big V8 in it. 🙄   Just took a new job that's 20 miles each way. He's averaging about $78 a week for gas. 🤬

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16 hours ago, Quavodus said:

I've seen it coming down a little in a few places too. No jaw dropping prices yet.

You're right about that. $ 3.84 is still too hard on my budget. Until all the oil valves are open, it's not going to change much, and the oil folks don't have much incentive to do that. My F150 has a 36 gal tank.

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As of late Saturday afternoon...Inglewood ranged from 3.99 to 4.19.

Yes that hurt when my 20 gallon tank was on "E", but not as bad as it is for guys traveling with their camper trailers and big buses. I'm sure you guys saw the news blurb the other day about the 970+ fill-up on the big RV. 

That had to hurt!

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I took a trip into NC yesterday, and was tickled to find diesel for $4.81 a gallon, after paying right at $5 here. Then it struck me that I really should be furious to be paying that much. I sure hope my pain at the pump is causing Putin a LOT of grief!

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