Posted on 12/06/2018 8:20:24 AM PST by con-surf-ative
US President Donald Trump fired another shot across OPEC’s bow on Wednesday, a day before the oil cartel is set to meet in Vienna to discuss possible production cuts.
“The World does not want to see, or need, higher oil prices!” the Tweet read, in part.
(Excerpt) Read more at oilprice.com ...
I never see him tweeting for cheaper cars or steel or software or insurance premiums. Prices of those have increased at a much higher percentage than oil over the past 20 years. WTF!?
as technology becomes cheaper... the energy will become cheaper... shale will be subject to the market... as all should be.
perhaps in time, cars will be powered by the tears of those worried about subsidies.
Or college tuition, backed by the Feds.
Or college tuition, backed by the Feds.
People are shopping and spending like crazy on lower gas prices. Gas is under $2 per gallon in parts of the southeast quadrant of the country.
Cheaper oil prices are pure oxygen to the rest of the economy. high oil price dampen the rest of the economy.
High oil prices in the 80 dollar range choked the world economy. as a result estimates for worldwide growth for next year tanked. when those estimates tanked. so did the price of oil because lower growth means lower demand for oil. the price of oil today is all about anticipation of what future demand will be.
That said, the result of low oil prices will be greater economic growth, higher demand for oil and therefor higher oil prices.
the correct analogy is higher oil prices are analogous to high taxes and interest rates. low oil prices are analogous to low taxes and interest rates.
There are folks all over the world who'd disagree...starting in West Texas.
The deep-state/swamp will destroy Trump this year.
Yes, shale should be subject to the market. Which means the POTUS shouldn’t be trying to manipulate prices with his tweets, any more than the Saudis shouldn’t be manipulating it with threats. He just needs to be aware that the oil and gas industry and the communities it supports are some of his biggest supporters.
He is reading from the 1978 script. Times have changed. The US will produce plenty of oil if the prices remain viable.
Trump sees what is going on in France.
Few issues galvanize the electorate, for or against you,
like the price of a gallon of gas.
What would promote the US oil industry is a 20% import tariff on IMPORTED crude and refined products.
Still hovering between $2.50 and $3.00 in North Phoenix.
Cheap energy fuels a strong economy...raising prices of steel and such has partly been because we stopped manufacturing as much as we used to and Trump’s policies are bringing our manufacturing back....his plan is much better than whatever your whining about is....reality is that his plans may cause some short term inconvenience but are designed for long-term prosperity......I guess some folks would rather have hot fudge sundaes today and not be able to afford ice cream tomorrow....
$1.90 range in NW Arkansas.
Was $2.10 last week and $2.49 just a few weeks ago.
2.73 here. 2.09 about forty miles away in Ohio.
The difference is Pennsylvania taxes.
The problem is not OPEC.
2.70 price range in WNY.
$1.69.9 in St Charles at Sam’s.
They haven't touched him yet, what makes you think this year will be different?
1.92 in rural KY.
Yet the current low gas prices have not shut down the shale industry. So, wouldn’t it be nice to keep the prices where they are.
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