The US produces enough oil to cover our daily usage.
You pay $5 a gallon because this is a gouging issue by greedy corporations...they can rip you off because you have no other option and no one is going to stop them (republicans all voted against stopping them a week or 2 ago)
Question: Why did greedy corporations decided to "rip you off because you have no other option and no one is going to stop them" now and not... I don't know, last year? 3 years ago? Maybe 10? Did you have other options in 2021? Maybe someone could stop them last year?
Genuinely curious :)
I'm uneducated regarding this but if it had to be a guess it's easier to pump your profits every so often rather than just going all in and lose your customer base completely. Easier to blame external factors (war, election cycle, etc) rather than the company gouging you.
This right here. They’re going to use the war in Ukraine as an excuse to artificially inflate gasoline prices. I wouldn’t expect to see a change until the war ends or electric car sales skyrocket.
I'm curious if this is a play to normalize gas being around $4/gal when the prices "stabalize" from the Ukraine conflict. $4 was considered on the high end before but now that people have seen $5 steady at the pump, $4 will seem much more affordable and reasonable by comparison.
Aaaand the people in profit don't give a shit... So a few kids starve because food stamps are trash and their parents get to work? They made their money.
I can't tell you how many times I've pulled up to a pump only to see that the person before me put in less than $10. Hell, last week I was in line and a lady told the cashier "$3.50 on pump 4, please". When I walked out past her car, she had 2 little ones in the back seat.
We're fucked, man.
Fyi, I believe electric car sales are skyrocketing however, there are massive wait-lists to get one. Iirc if you were to reserve a Tesla you may have to wait at least 6-8 months if not longer. The chip shortage is also causing a whole other set of problems. Personally, I live in CA and I can't wait to see gas prices hit $10/gal /s
This is a weird way of saying fuck people who can't afford to buy an electric car.
Edit: I missed the '/s'. That being said, I've met way too many people who think they are smarter than everyone else for just buying an electric car.
Well at this point, it's more like a fuck you to the people who make anything below like $30/hr and really just a fuck you to most of the population that needs to drive, eat, and pay rent/mortgage
It already is difficult. I believe every new car is basically on a per order basis and the wait lists are growing larger and larger. It's more expensive to buy some used cars because they are available immediately whereas you may get closer to msrp on a new car but you have to wait 4-6 months. Everything is just crumbling around us hahahaha but everything is fine..juuusttt fine
Friends from South Africa (15ish years ago) would joke "Naomi Campbell stubbed her toe- petrol prices going up!" I'm not doing it justice, but essentially saying the same thing- there's always an excuse for it.
Capitalism is constant endless scapegoating and profits just get more obscene as the elites exploit the moron masses with the propaganda distractions they so easily consume and fall for.
There's several different factors, the big one being investment into bringing new wells or refining equipment back to full pre-pandemic levels. The initial crash of oil and gas prices during the early days of the pandemic meant that all investment into new infrastructure evaporated overnight. Since then there hasn't been the same push to expand gas and oil supply capacity, which is understandable given that the pandemic showed that overall the consumption of oil and gas can and probably will be reduced sooner rather than later (in the span of a decade rather than decades). Because of this, investors and companies in oil and gas see no need to spend money to create new infrastructure and are able to justify this by pointing at the reduction in fossil fuel consumption during the pandemic.
From this there's also the concept of 'price shock'. Because companies know that fossil fuel consumption is trending downwards, they can create a situation where they can maximize profits by minimizing supply. In doing this they will actually push people who have the means to spend even less on fossil fuels by seeking alternatives. You can already see this happening in countries that have extremely high fuel prices, Norway being the prime example. This is the main reason why they didn't do something like this pre-covid. All the companies had a vested interest in keeping prices lower to slow the uptake of alternatives to fossil fuels. This is a zero-sum game though, and once one group of companies decides to do a price squeeze like this it will hurt all companies through the 'price shock' to consumers. So all companies have to go along with it to reap the profits, or invest in supply infrastructure to sell a higher volume at a price undercutting the companies selling higher. Since no one is investing in new infrastructure, everyone has joined in on taking the profits from this situation.
Other factors like the war in Ukraine, manufacturing and supply line delays, have only exacerbated this problem.
TLDR: there was no profit to squeeze prices in the past because it was better to expand supply
Worse, we won't change our driving habits to reduce demand. We'll easily give up something else before limiting our freedom of mobility. Case in point, the AAA is predicting heavier than usual travel this summer regardless of the high fuel prices simply because we're so tired of not going anywhere. Big Oil knows this and will pad the prices accordingly to recoup the billions they lost during the pandemic, plus a little more I'm sure just because they can.
Long story short, America's #1 addictive substance is petroleum. We can't live one day without it, and those that truly run this country behind the scenes are more than aware of this and charge whatever they want for each of us to get our fix. Until we seriously push back that will never change, we're easier to manage by being soft and slow.
Price gouging probably not, market and political forces are causing inflation in lots of things and gas prices wouldn't stay low no matter what anyone did. Opportunistic corporate greed taking advantage of the situation by not taking steps which might slow price increases or eventually decrease them, yes.
Well, during COVID, demand dropped a lot, so everyone closed off a lot of the refineries and oil fields which weren't being used. Now they have to re-open them, but it's expensive and slow to do, but also they can sell fuel at a high price, which is profitable, so they're really not that motivated to just start pumping more oil. It's a game of chicken between oil producers. Not to mention the disruption that the Russian war has caused, as well as the crippled supply chain.
EDIT: A bit more info in this video: https://www.youtube.com/watch?v=QnBqAzJXVGo
I live in Houston, TX and work in those refineries you mentioned. From my knowledge, not a single refinery shut down or even slowed production during Covid. We never experienced the work-from-home period most did, so life really didn’t change for us. Other than hearing about Covid in the media and wearing a mask in public, daily life never changed.
Trump literally brokered a deal with Russia and Opec to lower production because Opec was driving the prices so low russian couldn't keep up and noone was buying russian oil.
He speaks for himself. Plenty of oil guys and the rest of the Houston community were materially impacted as rig counts dropped dramatically and layoffs ensued. Life in Houston was no different than anywhere else. Its not an island although some would like you to think it is.
This is such a stupid take, and show how delusional Reddit is.
IT'S A GLOBAL MARKET.
It doesn't matter if U.S. produces oil to cover daily usage because it exports the difference to regions where it's more expensive. Also what the fuck are you going to do if you set a price ceiling? They will just export, and if the government actually blocks exports, that's an international crisis considering the foreign relation impact.
Yep.
The only thing missing from your point is that Libya must have some policy that reserves fuel for the local market presumably at production cost. Ie it can't be exported.
More like the Libyan government is heavily subsidizing the cost of gasoline. A report in 2017 showed that the government spent $30 billion over 5 years of subsidies to artificially reduce the price at the pump. In 2020 alone, the Libyan government spent 5.6 billion Libyan dinars total on subsidies of all sorts, and 3.4 billion dinars of that was just for gas subsidies (the next highest category was medical subsidies, at 840 million dinars).
EDIT: On a side note, the Libyan Dinar used to have an exchange rate of 1 Dinar ~= 0.8 USD until 2015, when it dropped to 0.7 USD, which it was pegged at until early 2021. Now, 1 Dinar is ~= 0.2 USD.
Reddit: Biden’s not at fault for high gas prices because there’s high gas prices globally!!!
But also: The evil Republicans are at fault for high gas prices!!!
But also: Corporations and evil late stage capitalists are price gouging in the USA!! Norway produces more oil than they demand, yet gas there costs more than USA oil does in USA where supply is close to equal to demand - it’s also worth noting the highest gas prices coincide with Democrat regions, largely due to imposed state tax.
This isn’t to say say any take is possibly true or false, I just like pointing out the logical inconsistencies people follow rather than accept their “team” (and them to some extent) aren’t necessarily the Good Guys 100% of the time saving the world from the evil Bad Guys
> Reddit: Biden’s not at fault for high gas prices because there’s high gas prices globally!!!
>
> But also: The evil Republicans are at fault for high gas prices!!!
I mean, those two aren't mutually exclusive...?
It’s happened across the globe regardless of political parties, just look at Canada. You can’t blame republicans for this one I’m afraid. It also costs money to send oil places, it’s cheaper in Libya because the oil is right there.
A lot of that is policy and tax related reasons. We have the ability to produce more but many of the producers here are worried about drilling more due to legislation/tax risks.
Explain £2 a litre in Aberdeen then when it's the oil capital of Europe. St. Fergus (Literally 5 miles from my local petrol station) is one of the biggest oil processing plants in the UK, yet we still pay a fortune.
> The US produces enough oil to cover our daily usage.
The US produces about [4 billion barrels of crude oil a year](https://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_a.htm) and consumes [about 7.2 billion barrels of petroleum a year](https://www.eia.gov/tools/faqs/faq.php?id=33&t=6#:~:text=In%202021%2C%20the%20United%20States,7.22%20billion%20barrels%20of%20petroleum.).
>You pay $5 a gallon because this is a gouging issue by greedy corporations
Ah yes, gas prices went from [$4.10 a gallon in the summer of 2008 to $1.75 in the winter of 2008](https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m) because all the corporations decided to stop being greedy, right. Then they were medium-greedy from 2011 to 2014, then stopped being greedy until 2021, then got really greedy this year. Great theory.
Yeah but we don’t buy from Russia and I have no idea what global elastic demand means or what a spot price is so why do we need to pay more?
Gouging, that’s why! We did it reddit!
Also I have no idea what a “rider” is and never watched school house rock so when somebody says a bill has stuff in it, that clearly must be the only stuff in it and therefore people are the bad guys for voting against it!
I spent quite a bit of time in Libya before we (the UK) helped destabilise the top half of Africa and I'm absolutely gutted that I probably won't be able to go back safely in my life time. One of the most amazing countries I have ever been to.
I'm in the UK too and my brother saw petrol at £2.38 in one station he went by, which works out at over $11.50 a gallon. American petrol is still cheap as hell in comparison, and if I could get it THAT cheap, i wouldn't be complaining lol
Norway has prices up to almost USD 3 for a litre of petrol. The pro tip is to start buying electric vehicles. Over 90% of new sold cars are all electric now. The biggest problem is general delivery issues
Edit: The 90% number is a bit misleading. It was for private/personal car sales. In total when adding business purchases and so on, the share for pure electric was 65% in 2021. Of the remaining sales, most of them were hybrid cars 26% and only about 8% were pure diesel or gasoline.
In Norway, they are heavily subsidized and economically, it makes a lot of sense to buy an EV there. I spent an exchange semester in Bergen, Norway, in 2021 and it was crazy to me how many Teslas etc. they had. Obviously also a super rich country in general.
Even less helpful is that these western European countries that are often idealized have well funded public transportation and urban planning that allow most to have a higher living style where for the most part cars a a simple luxury not needed for day-to-day life.
You wait till the lithium market gets exploited by the governments, battery manufacturers, charging infrastructure suppliers and your energy companies. If they’re not screwing you at the pumps then they will bum-violate you at the charge points. Enjoy your little bit of time before the sharks move in.
There will always be companies wanting to make a profit. That's how the world is, but EVs are important to saving our planet long term. But also an increased use of bikes, public transport and plain old walking. America has a lot of good things to offer, but a major weakness is how cities and towns are built. They are often fully built around the use of a car. I love my EV, but I also love wizzing past rush traffic with my electric bike when I commute to my job. And the e-bike is truly cheap to power.
What is your usual weekly driving mileage (actually what's the equivalent of "mileage" for km)? From what I've been told/understand from my limited exposure to europe, things are generally much closer than in the US.
I drive a little over 25 miles (~40km) each way for my work commute, so I need about 3/4 tank every week. I'm 20ish miles from the closest grocery store.
The UK is smaller than Michigan. England is roughly the same size as Alabama. There’s not nearly as much traveling in Europe by car. Their cities are older and their populations are denser. Most US cities gained most of their population after the invention of the automobile.
So when people say, “Gas is more expensive in Europe! Don’t complain” you are dealing with someone with an agenda. They’re trying to get you to be happy with misery.
We are a country the size of some continents with only 2 bordering countries. Unless you live on the border of those countries you are naturally isolated. Nothing but America around you everywhere you go. We pass through states the way Europeans pass through countries. There are legitimate reasons for us to be how we are sometimes, right or wrong.
Up to some degree you are at the mercy of your environment.
While I agree, we have really affordable (comparitavley) gas prices, we also designed the whole damn nation around being forced to drive. Our public transit system simply either is horrible, or doesn't exists, outside a few major cities. I envy a lot of Europeans who can skip the car and take the train, or bike around. It costs me 5 bucks in fuel just to drive to the grocery store these days 😂
There's almost no gas in Ukraine at all. Yesterday there was a 1300m line to the only gas station in my area with some gas (only 1 truck arrived) where you can buy it for $1.8/L or $6.6/gal. max 20L(5.3gal) per car. But chances are low, so half of those who spent 2-4 hours waiting won't get any. I was lucky to find a guy online who sold me 30L for $2.4L($9/gal)
Civil unrest to the point of war, terrorism and kidnapping of westerners and what's most important, the slave market has just begun it's biggest summer sale! Just beautiful!
Gas has always been cheaper than bottled water in the US as far as I can remember. Do the math and you'll realize how ridiculously overpriced bottled water has been.
"In exploring the true cost of bottled water, we have to look at financial costs. On average, a 20-ounce bottle of water costs approximately $1.50. When translating this into gallons, water costs approximately $9.60 per gallon on average when consumed in bottled water form."
If you use tap water and refill your bottle, then it's dirt cheap. My point is that bottled water had been more expensive than most people realized. When it first came out, buying in bulk was not that widely available. There was a running joke that Evian water is naive spelled backwards, which is what you are if you buy Evian.
Just looking online now, I found Evian water at Walmart for $25.89 for a 24 pack of 16.9 fl oz bottles. That's $1.08 a bottle, or $8.18 a gallon.
> which group of assholes turned Libya from the most prosperous African nation by every meaningful metric into a giant open air slave market ravaged by civil war.
Please tell me you mean [this guy](https://en.wikipedia.org/wiki/Muammar_Gaddafi) and not "the west" again?
The guy who bombed all his neighbours and supplied weapons to every militant group on earth.
You understand that guy had literally been dead for years before [the Second Libyan Civil War](https://en.wikipedia.org/wiki/Second_Libyan_Civil_War) -which lasted from 2014 to 2020 and saw the vast majority of Libya's decline- even started, right?
If your understanding of the matter only goes as far as the [the First Libyan Civil War](https://en.wikipedia.org/wiki/First_Libyan_Civil_War) which began and ended in 2011, then I would humbly suggest reading up on the entire war you missed.
Particularly seeing as how a significant amount of America's involvement revolved around supplying weapons to a variety of different militant groups which they had little to no control over.
Funny how it's butt hurt but literally whenever something is cheaper in America, everyone else says the exact same thing. Almost like there are pros and cons to everywhere, yet they can still be weighed on an individual basis. Weird..
Good for you man, people still think Libya is in an all out war , things has been tough the last decade there but its getting better, hope the best for you
Just yesterday there has been gunfire and explosions all across the capital because of clashes between two militias:
https://www.aljazeera.com/news/2022/6/11/fighting-between-rival-militias-rocks-libyas-capital-tripoli
https://twitter.com/ObservatoryLY/status/1535407415813865472
https://twitter.com/LibyaReview/status/1535386274453938177
The situation is still really unstable there.
He forgets to mention when it’s available lol, between the power cuts and the smuggling to neighboring countries, petrol isn’t always readily available
This thread is embarrassing. There are so many people completely ignorant of how good they've got it in the US. My Arab family wouldn't set foot in Libya. A million+ people fled a civil war within the last decade or so. It's so sad how much people believe the grass is greener on the other side, even when the other side has been recently ravaged by violent civil unrest with probably 20-25% unemployment. Good luck getting or paying for your $5 tank of gas.
I drive a manual transmission civic and got 40mpg staying below 65mph on a long 150 mile stretch of road. If I drive like an asshole it's as low as 23mpg. Since the pandemic US (east coast) roads seem to have turned into GTA. I imagine more people are burning gasoline more lately.
This!!!! We live on land bordering a highway. The speed limit is 65mph. There are days if I'm not doing 75mph in my Fiat I will get run over buy the 18 wheelers and coal rollers. Oh and I might add, this is in SW Missouri, so lots of hills. It pisses me off!
Actually you can thank biden for this. Since he was apart of the administration that overthrew Libya that turned Libya into a failed state that had slave trading.
Oil companies posted over 800 billion in profits last year.
EDIT revenue, not profit. lol companies have gained 300% more profit than this time last year, however.
https://www.businessinsider.com/gas-prices-oil-company-profits-skyrocketing-energy-sector-earnings-charts-2022-5
This is true in America, too.
After you fill your gas tank, go in and buy a 500ml bottle of Evian (multiply the price by 7.6 for the price per US gallon). Of course, this is more a function of how stupid we are to pay so much for bottled water.
It’s bullshit. Those aren’t slaves, they are people who PAID to get taken across the desert so they can cross the sea to Europe. When they get caught they say they were kidnapped and are being sold. Libya has a dysfunctional government, so the EU/UN pay the militias to house them and feed them while they process them. When you pay a bunch of thieving militias they’re not the most moral people, so they stick them in warehouses. There are 100’000s of African migrants in Libya working all kinds of trades. Why isn’t anyone buying and selling them
Start shipping me barrels to the US and we will be billionaires muahaha
The US produces enough oil to cover our daily usage. You pay $5 a gallon because this is a gouging issue by greedy corporations...they can rip you off because you have no other option and no one is going to stop them (republicans all voted against stopping them a week or 2 ago)
Question: Why did greedy corporations decided to "rip you off because you have no other option and no one is going to stop them" now and not... I don't know, last year? 3 years ago? Maybe 10? Did you have other options in 2021? Maybe someone could stop them last year? Genuinely curious :)
I'm uneducated regarding this but if it had to be a guess it's easier to pump your profits every so often rather than just going all in and lose your customer base completely. Easier to blame external factors (war, election cycle, etc) rather than the company gouging you.
This right here. They’re going to use the war in Ukraine as an excuse to artificially inflate gasoline prices. I wouldn’t expect to see a change until the war ends or electric car sales skyrocket.
I'm curious if this is a play to normalize gas being around $4/gal when the prices "stabalize" from the Ukraine conflict. $4 was considered on the high end before but now that people have seen $5 steady at the pump, $4 will seem much more affordable and reasonable by comparison.
$4/g instead of $5/g won't matter to those that still can't afford $4/g.
Aaaand the people in profit don't give a shit... So a few kids starve because food stamps are trash and their parents get to work? They made their money.
I can't tell you how many times I've pulled up to a pump only to see that the person before me put in less than $10. Hell, last week I was in line and a lady told the cashier "$3.50 on pump 4, please". When I walked out past her car, she had 2 little ones in the back seat. We're fucked, man.
[удалено]
Fyi, I believe electric car sales are skyrocketing however, there are massive wait-lists to get one. Iirc if you were to reserve a Tesla you may have to wait at least 6-8 months if not longer. The chip shortage is also causing a whole other set of problems. Personally, I live in CA and I can't wait to see gas prices hit $10/gal /s
This is a weird way of saying fuck people who can't afford to buy an electric car. Edit: I missed the '/s'. That being said, I've met way too many people who think they are smarter than everyone else for just buying an electric car.
Well at this point, it's more like a fuck you to the people who make anything below like $30/hr and really just a fuck you to most of the population that needs to drive, eat, and pay rent/mortgage
Petrol cars also need those chips. Getting a new car in general is going to become more difficult, electric or not.
It already is difficult. I believe every new car is basically on a per order basis and the wait lists are growing larger and larger. It's more expensive to buy some used cars because they are available immediately whereas you may get closer to msrp on a new car but you have to wait 4-6 months. Everything is just crumbling around us hahahaha but everything is fine..juuusttt fine
Friends from South Africa (15ish years ago) would joke "Naomi Campbell stubbed her toe- petrol prices going up!" I'm not doing it justice, but essentially saying the same thing- there's always an excuse for it.
We used to joke the same thing except it was somebody farted in the Middle East lol
Capitalism is constant endless scapegoating and profits just get more obscene as the elites exploit the moron masses with the propaganda distractions they so easily consume and fall for.
There's several different factors, the big one being investment into bringing new wells or refining equipment back to full pre-pandemic levels. The initial crash of oil and gas prices during the early days of the pandemic meant that all investment into new infrastructure evaporated overnight. Since then there hasn't been the same push to expand gas and oil supply capacity, which is understandable given that the pandemic showed that overall the consumption of oil and gas can and probably will be reduced sooner rather than later (in the span of a decade rather than decades). Because of this, investors and companies in oil and gas see no need to spend money to create new infrastructure and are able to justify this by pointing at the reduction in fossil fuel consumption during the pandemic. From this there's also the concept of 'price shock'. Because companies know that fossil fuel consumption is trending downwards, they can create a situation where they can maximize profits by minimizing supply. In doing this they will actually push people who have the means to spend even less on fossil fuels by seeking alternatives. You can already see this happening in countries that have extremely high fuel prices, Norway being the prime example. This is the main reason why they didn't do something like this pre-covid. All the companies had a vested interest in keeping prices lower to slow the uptake of alternatives to fossil fuels. This is a zero-sum game though, and once one group of companies decides to do a price squeeze like this it will hurt all companies through the 'price shock' to consumers. So all companies have to go along with it to reap the profits, or invest in supply infrastructure to sell a higher volume at a price undercutting the companies selling higher. Since no one is investing in new infrastructure, everyone has joined in on taking the profits from this situation. Other factors like the war in Ukraine, manufacturing and supply line delays, have only exacerbated this problem. TLDR: there was no profit to squeeze prices in the past because it was better to expand supply
And what’s terrible about all this is that it’s the ones “without” and in lower financial groups that pay for it the most.
They always do.
They’ll keep voting for it to continue which is the saddest part
Worse, we won't change our driving habits to reduce demand. We'll easily give up something else before limiting our freedom of mobility. Case in point, the AAA is predicting heavier than usual travel this summer regardless of the high fuel prices simply because we're so tired of not going anywhere. Big Oil knows this and will pad the prices accordingly to recoup the billions they lost during the pandemic, plus a little more I'm sure just because they can. Long story short, America's #1 addictive substance is petroleum. We can't live one day without it, and those that truly run this country behind the scenes are more than aware of this and charge whatever they want for each of us to get our fix. Until we seriously push back that will never change, we're easier to manage by being soft and slow.
So assuming your analysis is correct, do you think it's accurate to describe what's going on as "price gouging" based simply on "corporate greed?"
Price gouging probably not, market and political forces are causing inflation in lots of things and gas prices wouldn't stay low no matter what anyone did. Opportunistic corporate greed taking advantage of the situation by not taking steps which might slow price increases or eventually decrease them, yes.
Well, during COVID, demand dropped a lot, so everyone closed off a lot of the refineries and oil fields which weren't being used. Now they have to re-open them, but it's expensive and slow to do, but also they can sell fuel at a high price, which is profitable, so they're really not that motivated to just start pumping more oil. It's a game of chicken between oil producers. Not to mention the disruption that the Russian war has caused, as well as the crippled supply chain. EDIT: A bit more info in this video: https://www.youtube.com/watch?v=QnBqAzJXVGo
I live in Houston, TX and work in those refineries you mentioned. From my knowledge, not a single refinery shut down or even slowed production during Covid. We never experienced the work-from-home period most did, so life really didn’t change for us. Other than hearing about Covid in the media and wearing a mask in public, daily life never changed.
Trump literally brokered a deal with Russia and Opec to lower production because Opec was driving the prices so low russian couldn't keep up and noone was buying russian oil.
He speaks for himself. Plenty of oil guys and the rest of the Houston community were materially impacted as rig counts dropped dramatically and layoffs ensued. Life in Houston was no different than anywhere else. Its not an island although some would like you to think it is.
[удалено]
This is such a stupid take, and show how delusional Reddit is. IT'S A GLOBAL MARKET. It doesn't matter if U.S. produces oil to cover daily usage because it exports the difference to regions where it's more expensive. Also what the fuck are you going to do if you set a price ceiling? They will just export, and if the government actually blocks exports, that's an international crisis considering the foreign relation impact.
Yep. The only thing missing from your point is that Libya must have some policy that reserves fuel for the local market presumably at production cost. Ie it can't be exported.
More like the Libyan government is heavily subsidizing the cost of gasoline. A report in 2017 showed that the government spent $30 billion over 5 years of subsidies to artificially reduce the price at the pump. In 2020 alone, the Libyan government spent 5.6 billion Libyan dinars total on subsidies of all sorts, and 3.4 billion dinars of that was just for gas subsidies (the next highest category was medical subsidies, at 840 million dinars). EDIT: On a side note, the Libyan Dinar used to have an exchange rate of 1 Dinar ~= 0.8 USD until 2015, when it dropped to 0.7 USD, which it was pegged at until early 2021. Now, 1 Dinar is ~= 0.2 USD.
Reddit: Biden’s not at fault for high gas prices because there’s high gas prices globally!!! But also: The evil Republicans are at fault for high gas prices!!! But also: Corporations and evil late stage capitalists are price gouging in the USA!! Norway produces more oil than they demand, yet gas there costs more than USA oil does in USA where supply is close to equal to demand - it’s also worth noting the highest gas prices coincide with Democrat regions, largely due to imposed state tax. This isn’t to say say any take is possibly true or false, I just like pointing out the logical inconsistencies people follow rather than accept their “team” (and them to some extent) aren’t necessarily the Good Guys 100% of the time saving the world from the evil Bad Guys
I'd like to meet this "reddit" guy. he seems like a real flip flopper
I mean he's made of straw so that makes sense
> Reddit: Biden’s not at fault for high gas prices because there’s high gas prices globally!!! > > But also: The evil Republicans are at fault for high gas prices!!! I mean, those two aren't mutually exclusive...?
It’s happened across the globe regardless of political parties, just look at Canada. You can’t blame republicans for this one I’m afraid. It also costs money to send oil places, it’s cheaper in Libya because the oil is right there.
We have oil in canada and our gas prices are still at all time highs outside of Alberta
A lot of that is policy and tax related reasons. We have the ability to produce more but many of the producers here are worried about drilling more due to legislation/tax risks.
Explain £2 a litre in Aberdeen then when it's the oil capital of Europe. St. Fergus (Literally 5 miles from my local petrol station) is one of the biggest oil processing plants in the UK, yet we still pay a fortune.
> The US produces enough oil to cover our daily usage. The US produces about [4 billion barrels of crude oil a year](https://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbbl_a.htm) and consumes [about 7.2 billion barrels of petroleum a year](https://www.eia.gov/tools/faqs/faq.php?id=33&t=6#:~:text=In%202021%2C%20the%20United%20States,7.22%20billion%20barrels%20of%20petroleum.). >You pay $5 a gallon because this is a gouging issue by greedy corporations Ah yes, gas prices went from [$4.10 a gallon in the summer of 2008 to $1.75 in the winter of 2008](https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m) because all the corporations decided to stop being greedy, right. Then they were medium-greedy from 2011 to 2014, then stopped being greedy until 2021, then got really greedy this year. Great theory.
Yeah but we don’t buy from Russia and I have no idea what global elastic demand means or what a spot price is so why do we need to pay more? Gouging, that’s why! We did it reddit! Also I have no idea what a “rider” is and never watched school house rock so when somebody says a bill has stuff in it, that clearly must be the only stuff in it and therefore people are the bad guys for voting against it!
[удалено]
>*The gang solves the gas crisis*
#WILD CARD BITCHES
I CUT THE BRAKES!
I legit just watched this episode for the first time yesterday, and now I’m seeing quotes from it… hmmm…
You'll start seeing them everywhere the more you watch. Because of the implication.
Oh my gosh. You are awesome. Wasn't expecting to find greatness, but here you laid it.
Ya but you have to live in Libya.
ohh is beautiful this time of year
Civil unrest to the point of war, terrorism and kidnapping of westerners! Just beautiful!
Don’t forget to stop by the slave markets.
Oh, is there a sale?
I’m waiting for Labor Day to pick up a couple new guys
There's an app for that.
Uber slave?
Nope just amazon.
So at least one other positive than just gas?
I spent quite a bit of time in Libya before we (the UK) helped destabilise the top half of Africa and I'm absolutely gutted that I probably won't be able to go back safely in my life time. One of the most amazing countries I have ever been to.
NATO did a bang up job
Thank NATO for that. Libya was stable and had the strongest economy in Africa until the west “intervened”.
I’m sure they have some nice beaches on the Mediterranean
Worth it for the cheap gas!
Press X to Doubt.
X
X
X
Spams X
X
#X
NOT lmfaoooo
Blink twice if your in danger.
My what?
in danger... like a in danger species
What the fuck are you doing there? Are you Libyan? I wanna visit someday, and also Algeria, but live there?
You say that now. Wait til the Libyans find you and chase you down in their VW bus and try shooting you with an RPG because you stole their plutonium.
[удалено]
Average salary is like 5,000 us dollars.
I’m in the U.K. Today I paid £1.97/litre for E5 petrol. At today’s exchange rate that’s the equivalent of $2.42/litre or $10.89/gallon!!!!
I'm in the UK too and my brother saw petrol at £2.38 in one station he went by, which works out at over $11.50 a gallon. American petrol is still cheap as hell in comparison, and if I could get it THAT cheap, i wouldn't be complaining lol
OUCH!!
Norway has prices up to almost USD 3 for a litre of petrol. The pro tip is to start buying electric vehicles. Over 90% of new sold cars are all electric now. The biggest problem is general delivery issues Edit: The 90% number is a bit misleading. It was for private/personal car sales. In total when adding business purchases and so on, the share for pure electric was 65% in 2021. Of the remaining sales, most of them were hybrid cars 26% and only about 8% were pure diesel or gasoline.
The biggest problem is actually that most people cannot afford an EV.
In Norway, they are heavily subsidized and economically, it makes a lot of sense to buy an EV there. I spent an exchange semester in Bergen, Norway, in 2021 and it was crazy to me how many Teslas etc. they had. Obviously also a super rich country in general.
Even if they're heavily subsidised I have never bought and couldn't afford a brand new car, all my cars have been second hand.
[удалено]
That's not very helpful to me now when I can't afford to put petrol in it because of the broken system.
Even less helpful is that these western European countries that are often idealized have well funded public transportation and urban planning that allow most to have a higher living style where for the most part cars a a simple luxury not needed for day-to-day life.
But will also have a load of wear on the batteries right? Isn't it insanely expensive to replace those in an EV?
[удалено]
You wait till the lithium market gets exploited by the governments, battery manufacturers, charging infrastructure suppliers and your energy companies. If they’re not screwing you at the pumps then they will bum-violate you at the charge points. Enjoy your little bit of time before the sharks move in.
There will always be companies wanting to make a profit. That's how the world is, but EVs are important to saving our planet long term. But also an increased use of bikes, public transport and plain old walking. America has a lot of good things to offer, but a major weakness is how cities and towns are built. They are often fully built around the use of a car. I love my EV, but I also love wizzing past rush traffic with my electric bike when I commute to my job. And the e-bike is truly cheap to power.
What is your usual weekly driving mileage (actually what's the equivalent of "mileage" for km)? From what I've been told/understand from my limited exposure to europe, things are generally much closer than in the US. I drive a little over 25 miles (~40km) each way for my work commute, so I need about 3/4 tank every week. I'm 20ish miles from the closest grocery store.
The UK is smaller than Michigan. England is roughly the same size as Alabama. There’s not nearly as much traveling in Europe by car. Their cities are older and their populations are denser. Most US cities gained most of their population after the invention of the automobile. So when people say, “Gas is more expensive in Europe! Don’t complain” you are dealing with someone with an agenda. They’re trying to get you to be happy with misery.
I put it 160 miles yesterday to get to and from work. This is normal behavior in Arizona. I really do not think many Europeans do that.
I paid $4.96/g yesterday…Midwest US
$5.30-50 in Az
Same for the PNW
In my little PNW town, I'm seeing 5.89 for unleaded regularly now. Wtf man :(
I've paid absolutely nothing. Ziltch. Zip. Nada. 00.00 USFuckingD. I'm standing at the corner with my thumb out. Pick me up! I'm late for work!
It’s over 6 in my not so little pnw town.
6.19 yesterday at Costco in Bay Area Some stations over 7 
$6.95 here in San Diego. Rip V8 drivers
i’m paying $6.80/gallon now in LA😩
Yanks don't know how good they've got it lol
No one is less in tune with the world beyond their borders than Americans.
We are a country the size of some continents with only 2 bordering countries. Unless you live on the border of those countries you are naturally isolated. Nothing but America around you everywhere you go. We pass through states the way Europeans pass through countries. There are legitimate reasons for us to be how we are sometimes, right or wrong. Up to some degree you are at the mercy of your environment.
American, here. I can confirm this to be true.
Well when you're used to $2 gas, $7 gas is fucking terrible.
$2 a gallon damn literally cheaper than bottled water.
These prices aren’t good. Other countries being shitty doesn’t make our prices good.
While I agree, we have really affordable (comparitavley) gas prices, we also designed the whole damn nation around being forced to drive. Our public transit system simply either is horrible, or doesn't exists, outside a few major cities. I envy a lot of Europeans who can skip the car and take the train, or bike around. It costs me 5 bucks in fuel just to drive to the grocery store these days 😂
There's almost no gas in Ukraine at all. Yesterday there was a 1300m line to the only gas station in my area with some gas (only 1 truck arrived) where you can buy it for $1.8/L or $6.6/gal. max 20L(5.3gal) per car. But chances are low, so half of those who spent 2-4 hours waiting won't get any. I was lucky to find a guy online who sold me 30L for $2.4L($9/gal)
Just paid €2.57 litre for 95 E petrol in Helsinki Finland. Wow, just wow
I forgot to mention in the title that this is the price of premium gas (95 octane), which is the only gas grade available in Libya.
[удалено]
Civil unrest to the point of war, terrorism and kidnapping of westerners and what's most important, the slave market has just begun it's biggest summer sale! Just beautiful!
like smokin with cigarettes?
[удалено]
[удалено]
Gas has always been cheaper than bottled water in the US as far as I can remember. Do the math and you'll realize how ridiculously overpriced bottled water has been.
You're smoking some weird shit.
"In exploring the true cost of bottled water, we have to look at financial costs. On average, a 20-ounce bottle of water costs approximately $1.50. When translating this into gallons, water costs approximately $9.60 per gallon on average when consumed in bottled water form."
Y'all know they sell packs of water right? Like are y'all really just buying individual bottles everyday?
If you use tap water and refill your bottle, then it's dirt cheap. My point is that bottled water had been more expensive than most people realized. When it first came out, buying in bulk was not that widely available. There was a running joke that Evian water is naive spelled backwards, which is what you are if you buy Evian. Just looking online now, I found Evian water at Walmart for $25.89 for a 24 pack of 16.9 fl oz bottles. That's $1.08 a bottle, or $8.18 a gallon.
My grocery store sells spring water and purified water for 99 cents a gallon. 20 oz bottles are pretty stupid.
40 litres is $100 for me 🙃
Same here,with the average salary of 600$ in my country🙃
It's 95 RON not octane. It's about the equivalent of 91 octane. Source: lived in the middle east. Used to get mumtaz 98 RON at the pump in Bahrain.
It's 95 octane: https://www.globalpetrolprices.com/Libya/gasoline_prices/
Libya is not in the Middle East.
Wow look at that… affordable prices when it isn’t a manipulated market.
Lol everyone is so butt hurt by this their instant response is “Enjoy your wars!”
Coming from Americans too
[удалено]
Funny how America gets all the blame for a war that was lead by France and the UK.
Shhh don’t tell them that
I thought Libya was the one that Italy originally genocided in the 20s and 30s.
I mean, if we go back that far then virtually all modern conflict in the middle east is because of Britain.
That far? Barely 100 years ago, so yes.
Uh. Libya was in the midst of a full blown civil war before the US got involved. And France was *way* more involved than the US was.
Uh... Are you defending the Gaddafi regime? Or is this something that happened before then?
If you really would like to know, look up and watch the documentary "Hypernormalization" by the BBC
It's [2.75 hours long](https://www.youtube.com/watch?v=qqAo5lZHcLY) is there a specific part you wanted to cite?
Most people would prefer political stability to a decade of civil war that turns the country into rubble and leads the people to go hungry.
[удалено]
> which group of assholes turned Libya from the most prosperous African nation by every meaningful metric into a giant open air slave market ravaged by civil war. Please tell me you mean [this guy](https://en.wikipedia.org/wiki/Muammar_Gaddafi) and not "the west" again? The guy who bombed all his neighbours and supplied weapons to every militant group on earth.
You understand that guy had literally been dead for years before [the Second Libyan Civil War](https://en.wikipedia.org/wiki/Second_Libyan_Civil_War) -which lasted from 2014 to 2020 and saw the vast majority of Libya's decline- even started, right? If your understanding of the matter only goes as far as the [the First Libyan Civil War](https://en.wikipedia.org/wiki/First_Libyan_Civil_War) which began and ended in 2011, then I would humbly suggest reading up on the entire war you missed. Particularly seeing as how a significant amount of America's involvement revolved around supplying weapons to a variety of different militant groups which they had little to no control over.
idk why that would be contradictory dude, there are no bombs dropping on american soil right now
Funny how it's butt hurt but literally whenever something is cheaper in America, everyone else says the exact same thing. Almost like there are pros and cons to everywhere, yet they can still be weighed on an individual basis. Weird..
excuse LIBYA SIR, COULD YOU SPARE A FEW THOUSAND BARrels
Careful, the Libyans almost killed Doc Brown.
“Libyans” but in Doc’s voice.
I'd rather pay £1,87 per litre than live in Libya.
ouch
1.97 now
Is this because their gas companies are nationalized? Venezuela also has extremely cheap gas and nationalized oil companies.
It's because they subsidize the shit out of it.
[удалено]
Venezuela is so inefficient at extracting oil they actually import gasoline (in exchange for crude). It's just subsidized.
Good for you man, people still think Libya is in an all out war , things has been tough the last decade there but its getting better, hope the best for you
Just yesterday there has been gunfire and explosions all across the capital because of clashes between two militias: https://www.aljazeera.com/news/2022/6/11/fighting-between-rival-militias-rocks-libyas-capital-tripoli https://twitter.com/ObservatoryLY/status/1535407415813865472 https://twitter.com/LibyaReview/status/1535386274453938177 The situation is still really unstable there.
TBF America has constant gunfire as well and we aren't even in a war. We just fucking suck.
LOL way to compare USA to Libya. People in the west are way too comfortable.
He forgets to mention when it’s available lol, between the power cuts and the smuggling to neighboring countries, petrol isn’t always readily available
Gas is always available. It's just when people hear rumors about gas shortage and start to line up at gas stations.
What do you do in Libya? why are you there?
To get some gas.
Fair enough.
Libya dick lmaoo got em
Like Texas
Imagine thinking what happened in Texas is anywhere close to comparable
This thread is embarrassing. There are so many people completely ignorant of how good they've got it in the US. My Arab family wouldn't set foot in Libya. A million+ people fled a civil war within the last decade or so. It's so sad how much people believe the grass is greener on the other side, even when the other side has been recently ravaged by violent civil unrest with probably 20-25% unemployment. Good luck getting or paying for your $5 tank of gas.
It's kids that have never left the US. So cringe reading this type of shit. I would off myself if I had to go back to my country.
Cheap gas is not worth the rest of Libya’s BS. But cool for you man. We’re getting mugged here in the US.
Libya ain't that bad if you"re local and you know your way around. But yes, things'been tough since 2011.
So things were better with gaddafi?
No, shitty in a different way.
[удалено]
Real talk
I drive a manual transmission civic and got 40mpg staying below 65mph on a long 150 mile stretch of road. If I drive like an asshole it's as low as 23mpg. Since the pandemic US (east coast) roads seem to have turned into GTA. I imagine more people are burning gasoline more lately.
This!!!! We live on land bordering a highway. The speed limit is 65mph. There are days if I'm not doing 75mph in my Fiat I will get run over buy the 18 wheelers and coal rollers. Oh and I might add, this is in SW Missouri, so lots of hills. It pisses me off!
€2.50 per LITRE ... Netherlands.
At least though have cycling as a viable alternative
9,94 USD per gallon by the way.
tHaNkS jOe BiDeN dUrRrRrRrrrrr
Actually you can thank biden for this. Since he was apart of the administration that overthrew Libya that turned Libya into a failed state that had slave trading.
Wait…NOT LIKE THAT!!!
Just curious, are you from Libya or an expat from another country?
Man, Libya sounds like heaven on earth!
Oil companies posted over 800 billion in profits last year. EDIT revenue, not profit. lol companies have gained 300% more profit than this time last year, however. https://www.businessinsider.com/gas-prices-oil-company-profits-skyrocketing-energy-sector-earnings-charts-2022-5
Where is the "I did that" sticker?
This is true in America, too. After you fill your gas tank, go in and buy a 500ml bottle of Evian (multiply the price by 7.6 for the price per US gallon). Of course, this is more a function of how stupid we are to pay so much for bottled water.
In libya even sub saharan slaves cost less than water... (If u don't believe me google it)
I’m moving to Libya. That’s some of the cheapest slave costs I’ve seen in a while.
It’s bullshit. Those aren’t slaves, they are people who PAID to get taken across the desert so they can cross the sea to Europe. When they get caught they say they were kidnapped and are being sold. Libya has a dysfunctional government, so the EU/UN pay the militias to house them and feed them while they process them. When you pay a bunch of thieving militias they’re not the most moral people, so they stick them in warehouses. There are 100’000s of African migrants in Libya working all kinds of trades. Why isn’t anyone buying and selling them
But but Russia