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Key:
Admin,
Global Mod,
Mod
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Joined: Jan 2015
Posts: 1,529 Likes: 48
8 point
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8 point
Joined: Jan 2015
Posts: 1,529 Likes: 48 |
I have no way to verif the validity of his claim, but this guy is the secretary of energy, so I would think it would be truthful. He claims more oil is flowing in amd around the strait than before the 'conflict' started. If what he says is true, it sure seems we are being ripped a new one by the oil / gas companies. https://x.com/SecretaryWright/status/2087208693855146014
Last edited by Geeb; 08/15/26 07:59 AM.
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Joined: Nov 2005
Posts: 8,192 Likes: 113
14 point
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14 point
Joined: Nov 2005
Posts: 8,192 Likes: 113 |
Oil companies are making record profits
Probably part of the plan
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Joined: Aug 2001
Posts: 81,845 Likes: 513
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 81,845 Likes: 513 |
He is a liar. The industry analysts watch that more closely and more accurately than he is. All is doing is trying to paint a narrative to make it seem like everything is fine. In that same post is this. https://x.com/SigEStructure/status/2087216908127043713 and a pretty detailed chart showing where things are at. The important thing to look at is the outflows in March before any of this started up, the difference is dramatic. https://x.com/SigEStructure/status/2087216908127043713/photo/1
"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster
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Joined: Dec 2001
Posts: 14,546 Likes: 23
Booner
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Booner
Joined: Dec 2001
Posts: 14,546 Likes: 23 |
it sure seems we are being ripped a new one by the oil / gas companies. Still amazing to me how many folks still think that oil companies set the price of oil and fuel.
"You think I care? Roll Damn Tide"
Have you tried Google?
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Joined: Feb 2007
Posts: 26,561 Likes: 166
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 26,561 Likes: 166 |
it sure seems we are being ripped a new one by the oil / gas companies. Still amazing to me how many folks still think that oil companies set the price of oil and fuel. Should be law that if one cannot take possession of a commodity then they shouldn’t be allowed to buy into it. Speculators seem to do well
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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1 member likes this:
gwstang |
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Joined: Aug 2001
Posts: 81,845 Likes: 513
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 81,845 Likes: 513 |
it sure seems we are being ripped a new one by the oil / gas companies. Still amazing to me how many folks still think that oil companies set the price of oil and fuel. Its an easy scapegoat for politicians with bad policies to blame instead of being honest and accepting that they are the one's at fault. Fact is, the price of gas was significantly cheaper in March before this war was started. Second fact, is that taxes on gas are a major part of the price at the pump.
"Never Trust Government" -- Smart people.
"The Great thing we should Fear and the Weird Thing we Trust is Elon Musk" -- Me
"You can be broke but you cant be poor." -- Ruthie-May Webster
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Joined: Feb 2007
Posts: 26,561 Likes: 166
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 26,561 Likes: 166 |
it sure seems we are being ripped a new one by the oil / gas companies. Still amazing to me how many folks still think that oil companies set the price of oil and fuel. Its an easy scapegoat for politicians with bad policies to blame instead of being honest and accepting that they are the one's at fault. Fact is, the price of gas was significantly cheaper in March before this war was started. Second fact, is that taxes on gas are a major part of the price at the pump. And based on inflation gas prices have NOT really gone up The dollar has gone down
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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Joined: Dec 2001
Posts: 14,546 Likes: 23
Booner
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Booner
Joined: Dec 2001
Posts: 14,546 Likes: 23 |
it sure seems we are being ripped a new one by the oil / gas companies. Still amazing to me how many folks still think that oil companies set the price of oil and fuel. Should be law that if one cannot take possession of a commodity then they shouldn’t be allowed to buy into it. Speculators seem to do well That's the thing though...you CAN take possession of oil bought on the world market. You just have to have the storage to take delivery of it when you buy it. You can't "buy" it and have them store it for you for free. That was the thought of people in 2020 when the price of oil went negative. Lots of people were expecting the oil companies to pay them millions to "buy" their oil. Their problem was, they didn't have storage tanks to take delivery immediately, and immediate delivery was required. Cushing filled up mostly before oil went negative, so hardly any of the folks who leased storage there could take advantage of it, either. That's why it went negative...there was a glut, and no one with storage space to get paid to take it. All that happened from that was smaller oil companies that operated on tight margins went bankrupt. I hate speculators as much as anyone, but they take a bath on their gambles too. It's not all just profit, profit, profit. They lost their asses in 2020. They're gambling on what the future price of oil will be.
"You think I care? Roll Damn Tide"
Have you tried Google?
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Joined: Feb 2007
Posts: 26,561 Likes: 166
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 26,561 Likes: 166 |
it sure seems we are being ripped a new one by the oil / gas companies. Still amazing to me how many folks still think that oil companies set the price of oil and fuel. Should be law that if one cannot take possession of a commodity then they shouldn’t be allowed to buy into it. Speculators seem to do well That's the thing though...you CAN take possession of oil bought on the world market. You just have to have the storage to take delivery of it when you buy it. You can't "buy" it and have them store it for you for free. That was the thought of people in 2020 when the price of oil went negative. Lots of people were expecting the oil companies to pay them millions to "buy" their oil. Their problem was, they didn't have storage tanks to take delivery immediately, and immediate delivery was required. Cushing filled up mostly before oil went negative, so hardly any of the folks who leased storage there could take advantage of it, either. That's why it went negative...there was a glut, and no one with storage space to get paid to take it. All that happened from that was smaller oil companies that operated on tight margins went bankrupt. I hate speculators as much as anyone, but they take a bath on their gambles too. It's not all just profit, profit, profit. They lost their asses in 2020. They're gambling on what the future price of oil will be. I remember that but my perspective is more from 2010-2012 when I’d closed shop and went to work for a friend of mine. Next door business opened up, they bought and then sold bio diesel products to the military. This guys dad had set it all up and they never took possession. Basically delivery dates and the guy made bank. Looked like vanilla ice had moved in. They literally had monthly catered parties with high dollar wines being brought in. His daddy knew folks in DC and this was the time Obama mandated that the military had to purchase x number bio diesel products. It reeked of corruption and who you know I doubt they’re still in town. Seems they came from out west and needed a non assuming location
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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Joined: Nov 2005
Posts: 8,192 Likes: 113
14 point
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14 point
Joined: Nov 2005
Posts: 8,192 Likes: 113 |
it sure seems we are being ripped a new one by the oil / gas companies. Still amazing to me how many folks still think that oil companies set the price of oil and fuel. Its an easy scapegoat for politicians with bad policies to blame instead of being honest and accepting that they are the one's at fault. Fact is, the price of gas was significantly cheaper in March before this war was started. Second fact, is that taxes on gas are a major part of the price at the pump. And based on inflation gas prices have NOT really gone up The dollar has gone down So it costs me 32 dollars more to fill up my truck now than it did in 2024 because the dollar went down? Maybe you should apply for the press secretary position
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Joined: Dec 2001
Posts: 14,546 Likes: 23
Booner
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Booner
Joined: Dec 2001
Posts: 14,546 Likes: 23 |
I remember that but my perspective is more from 2010-2012 when I’d closed shop and went to work for a friend of mine.
Next door business opened up, they bought and then sold bio diesel products to the military. This guys dad had set it all up and they never took possession. Basically delivery dates and the guy made bank. Looked like vanilla ice had moved in.
They literally had monthly catered parties with high dollar wines being brought in. His daddy knew folks in DC and this was the time Obama mandated that the military had to purchase x number bio diesel products.
It reeked of corruption and who you know
I doubt they’re still in town. Seems they came from out west and needed a non assuming location He was a broker, not a speculator. Worked on guaranteed gov't contracts, and we all know the gov't overpays for everything. Sweet gig if you can get it. Nothing is guaranteed for speculators. They can make a lot of money in a hurry, and they can lose a lot of money in a hurry. Speculators are hedging on this Hormuz thing getting somewhat worked out this fall...futures contracts for December are currently at $2.61/gallon. Current rack price is $2.90/gallon.
"You think I care? Roll Damn Tide"
Have you tried Google?
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