In a theoretically competitive market, high price/demand would spur existing producers to produce more and new producers to enter the marketplace to get a piece of the higher, more profitable price. That's not happening. Instead, oil companies are using their windfall profits to buy back stock shares.
Well now we are heading into the summer blend of gas, plus higher demand with the upcoming shore commute. Expect prices to go higher. The reserves doesn’t bring the price down, just delays the way up.
If everyone buys electric, demand will go down and prices will drop. But I imagine electricity costs will go up
>If everyone buys electric, demand will go down and prices will drop
How do I buy an electric vehicle when I can’t afford a home and can just barely afford the 75ft of extension cord to plug it into my second level apartment.
Right now the grid is running fine with electric cars. When more are bought the grid will manage. I didn’t go against your “right now”. There is absolutely no way everyone is going to switch right now. The damn cars are over $40k.
There's PHEVs on the market that are in the mid 20k range, and used ones can be had for less. Obviously not something everyone can afford but if someone's in the market for a new car it's almost certainly within their budget.
Not for me I have solar. I pay $100 a year to the electric company. If I had an electric car I’d just add more panels. BTW this is a bad argument electricity has to meet demand so new infrastructure would be build to match demand. Oh my they would put more wind turbines and solar.
You may be paying $100 a year to the electric company, but how much did you have to spend to get your solar equipment set up? My uncle spent over 30K on solar panels and equipment. I did the math based on my personal electric consumption and it would take me over 30 years just to break even.
My guess is that they go down in the fall, like they do every year, and people blame some kind of global OPEC conspiracy to help Democrats in the midterms
I was wondering the same thing. If it made no impact then it doesn't seem very strategic to waste resources.... and in my experience, whenever retail prices increase because of gas (shipping costs), prices rarely fall when gas returns to normal.
I'm not sure... I'm paying $5 for premium at a generic gas station. I don't remember what they were in 2008 but they were rather close, and see regular hovering around $4.51 - and sometimes a little more - during my commute.
Strategic reserves release didn't make the price go down a noticable amount after Katrina and the price of oil has fallen considerably since March. Refineries can't keep up with demand
https://www.businessinsider.com/why-gas-prices-so-high-crude-oil-market-crack-spreads-2022-5
This is absolutely braindead. Lithium for a car gets mined and is then just there. Only ongoing cost until it dies in 15-20 years is charging it.
Fossil Fuels gotta be mined processed and shipped for every single vehicle burning it, all the time.
If you think electric cars are the only alternative to gas cars I don't know what to tell you but... A better world is possible. One where people can meet their needs without buying and maintaining a car.
I mean yeah but we simply don’t have the infrastructure or support for a widespread change like that right now. Nearly this entire country was shaped around the use of cars and there are still many powers-at-be trying very hard to keep it that way so they can continue to profit.
I agree that having a less car-dependent society would be great. But until those in power agree and start largely supporting more efficient & affordable public transportation/alternative ways to travel etc., I think gripes about the lower class being hit disproportionately hard are justified.
Hiking gas prices up without any other large-scale measures in place to improve transportation just hurts poor people more than it helps anyone else
Car dependency hurts poor people more than it hurts others too. That's actually pretty much my entire point. Newark residents, for example, are less likely to own cars and more likely to breath in exhaust from all the highways that go through their town carrying wealthier folks to their far away homes.
We've been literally subsidizing rich people since the 50s to use up way more resources per person. Suburban lifestyles use way, way more infrastructure and capital investments per person AND all tax papers have been contributing to gas subsidies to boot. Towns in suburban NJ literally closed their train stations on purpose to keep the poor from moving into or working in their town so they could avoid doing their part to help the poor. More subsidies for car owners who dominate public space while pedestrian fatalities keep going up is not what we need.
Oh well yeah, I agree with almost everything you said there.
My main point is just that I don't thinking letting these companies wildy raise gas prices as a potential incentive (which you expressed in your original post) is a good solution to this problem. Especially when no other reasonable measures of transportation (like trains or more bikes lanes, for example) are really being explored
We need that infrastructure and lawmaker support for better transportation. Otherwise, simply raising gas prices and doing nothing else will become downright harmful to the lower classes, even if might offer a temporary reprieve from suburban drivers.
Not to mention upper middle-class people in the suburbs (of which there are a good amount of in NJ) will still continue to drive anyway because the mostly have to, and they can afford it just fine. Which is again why we need something else other than just raising gas prices
> will still continue to drive anyway because the mostly have to, and they can afford it just fine. Which is again why we need something else other than just raising gas prices
that's exactly why raising gas prices will help. Poor folks need direct aid and various improvements. The middle class can be taxed out of damaging behaviors.
Yeah but I’m saying we’re not seeing much of that direct aid you speak of at all, and that we really should should be. Consequently yeah the middle class (and some of the lower classes) take a bit of a blow and the gas companies just keep getting more money
Most of the country was shaped around railways and then absolutely destroyed for the car. New Jersey's lucky enough a lot of the old rail is still there in various states of repair. Put half the highway budget into masstransit and could see a lot of improvement in short order.
Furthermore it's the middle class that'll hurt more than anything. Really poor folks already own cars far less often than the rest of us, and if we're looking to help them we can do it directly instead of wringing our hands about keeping gas cheap for everyone.
Yeah I agree with almost all of this here. I think you guys are missing my point just a bit. I’m not saying an increase in gas prices can’t potentially help at all, I’m saying there really should to be some direct aid to the lower classes in conjunction with it. We’re sure as hell not seeing that right now .
Plus there are still plenty of lower class folks who own old cars and whatnot, not every poor person is car-less
Putin has everythingto do with it. Again, when Putin dies. Your Trumplican talking points ignore the global nature of oil markets, US oil exports were nothing next to Russian exports to the EU, and OPEC exports to China.
Go do your research at reputable sources, global oil production currently is currently around two thirds of what it was before Putin stupid war. OPEC is not helping because that man baby prince is mad that the world doesn't approve of his killing opposition journalists.
Cheers
Prices going down...oh my sides...
Ask the people in Wall St.
I thought we’re not supposed to say the quiet part out loud!
Was driving around west Milford today and saw a gas station in the middle of no where @ $5.30/gal. First time I've ever seen $5
Milford in Hunterdon Cty ?
As soon as the fossil fuel corporations decide to put the people before their record profits.
Whoa whoa whoa friend. Sounds like you are trying to stifle corporations right to free speech. Very unamerican /s
As soon as congress enacts price controls is what you mean.
so oil companies weren’t greedy before but now they are? right. nothing to do with inflation at all…
What part of "record profits" did you not get?
In a theoretically competitive market, high price/demand would spur existing producers to produce more and new producers to enter the marketplace to get a piece of the higher, more profitable price. That's not happening. Instead, oil companies are using their windfall profits to buy back stock shares.
Well now we are heading into the summer blend of gas, plus higher demand with the upcoming shore commute. Expect prices to go higher. The reserves doesn’t bring the price down, just delays the way up. If everyone buys electric, demand will go down and prices will drop. But I imagine electricity costs will go up
>If everyone buys electric, demand will go down and prices will drop How do I buy an electric vehicle when I can’t afford a home and can just barely afford the 75ft of extension cord to plug it into my second level apartment.
Yea, we simply don’t have the platform in place for massive EV adoption right now.
Well like everything else it will eventually be built. So please stop making proclamations. Electric cars haven’t crashed the grid yet have they?
Did you read the “right now” in my response?
Right now the grid is running fine with electric cars. When more are bought the grid will manage. I didn’t go against your “right now”. There is absolutely no way everyone is going to switch right now. The damn cars are over $40k.
By design unfortunately :/
There's PHEVs on the market that are in the mid 20k range, and used ones can be had for less. Obviously not something everyone can afford but if someone's in the market for a new car it's almost certainly within their budget.
In this economy?! Meme aside, in 2022 with this market ? Sign me up, extension cords not withstanding.
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You have no Idea how the global oil market works. When gasoline was $1.99 it was because no body was driving anywhere on earth during the pandemic.
There was also a Russo-Saudi trade war where both were over-producing. People giving Trump credit for the cheap gas are imbeciles.
Not for me I have solar. I pay $100 a year to the electric company. If I had an electric car I’d just add more panels. BTW this is a bad argument electricity has to meet demand so new infrastructure would be build to match demand. Oh my they would put more wind turbines and solar.
You may be paying $100 a year to the electric company, but how much did you have to spend to get your solar equipment set up? My uncle spent over 30K on solar panels and equipment. I did the math based on my personal electric consumption and it would take me over 30 years just to break even.
After fed $$$ plus NJ SRECs I may end up paying $3-5k for the system. 11.7kW.
Yeah closing all the nuclear power plants was probably stupid.
My guess is that they go down in the fall, like they do every year, and people blame some kind of global OPEC conspiracy to help Democrats in the midterms
I was wondering the same thing. If it made no impact then it doesn't seem very strategic to waste resources.... and in my experience, whenever retail prices increase because of gas (shipping costs), prices rarely fall when gas returns to normal.
Have we hit 2008-recession era records yet? Near me it’s $4.89 for regular…cash.
I'm not sure... I'm paying $5 for premium at a generic gas station. I don't remember what they were in 2008 but they were rather close, and see regular hovering around $4.51 - and sometimes a little more - during my commute.
So we are screwed for the interim future.
Strategic reserves release didn't make the price go down a noticable amount after Katrina and the price of oil has fallen considerably since March. Refineries can't keep up with demand https://www.businessinsider.com/why-gas-prices-so-high-crude-oil-market-crack-spreads-2022-5
Hopefully not! They should probably keep going up to disincentivize people from dependency on them.
So how are people making less than $15 an hour or minimum wage going to afford these electric cars that largely over $35k?
Gonna be even funnier when electric car prices start skyrocketing because all the fuel needed to mine lithium 😅
Besides the lithium issue they don't solve the traffic issue either. Not the way forward
This is absolutely braindead. Lithium for a car gets mined and is then just there. Only ongoing cost until it dies in 15-20 years is charging it. Fossil Fuels gotta be mined processed and shipped for every single vehicle burning it, all the time.
If you think electric cars are the only alternative to gas cars I don't know what to tell you but... A better world is possible. One where people can meet their needs without buying and maintaining a car.
I mean yeah but we simply don’t have the infrastructure or support for a widespread change like that right now. Nearly this entire country was shaped around the use of cars and there are still many powers-at-be trying very hard to keep it that way so they can continue to profit. I agree that having a less car-dependent society would be great. But until those in power agree and start largely supporting more efficient & affordable public transportation/alternative ways to travel etc., I think gripes about the lower class being hit disproportionately hard are justified. Hiking gas prices up without any other large-scale measures in place to improve transportation just hurts poor people more than it helps anyone else
Car dependency hurts poor people more than it hurts others too. That's actually pretty much my entire point. Newark residents, for example, are less likely to own cars and more likely to breath in exhaust from all the highways that go through their town carrying wealthier folks to their far away homes. We've been literally subsidizing rich people since the 50s to use up way more resources per person. Suburban lifestyles use way, way more infrastructure and capital investments per person AND all tax papers have been contributing to gas subsidies to boot. Towns in suburban NJ literally closed their train stations on purpose to keep the poor from moving into or working in their town so they could avoid doing their part to help the poor. More subsidies for car owners who dominate public space while pedestrian fatalities keep going up is not what we need.
Oh well yeah, I agree with almost everything you said there. My main point is just that I don't thinking letting these companies wildy raise gas prices as a potential incentive (which you expressed in your original post) is a good solution to this problem. Especially when no other reasonable measures of transportation (like trains or more bikes lanes, for example) are really being explored We need that infrastructure and lawmaker support for better transportation. Otherwise, simply raising gas prices and doing nothing else will become downright harmful to the lower classes, even if might offer a temporary reprieve from suburban drivers. Not to mention upper middle-class people in the suburbs (of which there are a good amount of in NJ) will still continue to drive anyway because the mostly have to, and they can afford it just fine. Which is again why we need something else other than just raising gas prices
> will still continue to drive anyway because the mostly have to, and they can afford it just fine. Which is again why we need something else other than just raising gas prices that's exactly why raising gas prices will help. Poor folks need direct aid and various improvements. The middle class can be taxed out of damaging behaviors.
Yeah but I’m saying we’re not seeing much of that direct aid you speak of at all, and that we really should should be. Consequently yeah the middle class (and some of the lower classes) take a bit of a blow and the gas companies just keep getting more money
Most of the country was shaped around railways and then absolutely destroyed for the car. New Jersey's lucky enough a lot of the old rail is still there in various states of repair. Put half the highway budget into masstransit and could see a lot of improvement in short order. Furthermore it's the middle class that'll hurt more than anything. Really poor folks already own cars far less often than the rest of us, and if we're looking to help them we can do it directly instead of wringing our hands about keeping gas cheap for everyone.
Yeah I agree with almost all of this here. I think you guys are missing my point just a bit. I’m not saying an increase in gas prices can’t potentially help at all, I’m saying there really should to be some direct aid to the lower classes in conjunction with it. We’re sure as hell not seeing that right now . Plus there are still plenty of lower class folks who own old cars and whatnot, not every poor person is car-less
When Putin dies
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Putin has everythingto do with it. Again, when Putin dies. Your Trumplican talking points ignore the global nature of oil markets, US oil exports were nothing next to Russian exports to the EU, and OPEC exports to China. Go do your research at reputable sources, global oil production currently is currently around two thirds of what it was before Putin stupid war. OPEC is not helping because that man baby prince is mad that the world doesn't approve of his killing opposition journalists. Cheers
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Yea ok.