Current Oil Prices are LOWER than almost any day 2004-2014.

[citygator]

Did you go to school at the the Al Sharpton University like IM2?

Let’s compare educations. I’m in.

 

[skews13]

Currently oil prices are lower than almost any day from the end of 2004 through 2014. It’s also the same exact price as the average price in 2018. So, what exactly is the crisis?

View attachment 528249

Crude Oil Prices - 70 Year Historical Chart

Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

www.macrotrends.net

There isn't one. We're being ripped off by the distributors, no doubt because of political reasons, which should be investigated, and if proven, fined billions of dollars in penalties.

This will also hasten the demand for electric vehicles, which may very well cause the collapse of a large portion of the oil, gasoline industry 10-20 years sooner than first estimated.

 

[22lcidw]

Capitalism

OPEC is capitalism? Biden shut down capitalism with regards to oil.

 

[Asclepias]

OPEC is capitalism? Biden shut down capitalism with regards to oil.

No capitalism is capitalism. I never mentioned the acronym OPEC.

 

[airplanemechanic]

Relevant how? Nut cases on here are complaining about oil prices. Guess what’s? They are not historically high.

Nobody is complaining about oil prices. We're complaining about 4 dollar a gallon GAS. American consumers don't buy crude oil on the open market so the price of oil doesn't matter to the average American. But the price of GAS most certainly does.

Dumb fuck.

 

[Asclepias]

Nobody is complaining about oil prices. We're complaining about 4 dollar a gallon GAS.

Dumb fuck.

Capitalism. You do realize how gas is made right?

 

[Crepitus]

Currently oil prices are lower than almost any day from the end of 2004 through 2014. It’s also the same exact price as the average price in 2018. So, what exactly is the crisis?

View attachment 528249

Crude Oil Prices - 70 Year Historical Chart

Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

www.macrotrends.net

Conservative people running the oil companies want Democrats to look bad?

 

[22lcidw]

No capitalism is capitalism. I never mentioned the acronym OPEC.

OPEC had the world in a vice for decades. They dictated the price they wanted to charge and the amount of oil they released. They had the highest percentage of the product with a good percentage of quality product easier to get out of the ground. And we were at fault for it.

 

[AzogtheDefiler]

The running narrative is gas/oil prices are too high. I agree with you. There isn’t a good comparison to what we are seeing. Righties like to take last years suppressed prices from low demand that put out very low prices and compare them to current average prices while exiting a pandemic. I’m glad we agree. Prices aren’t comparably high. Thanks Joe!

Wrong. With Joe winning the traders see that the US will not invest in US being a primary producer of oil so the futures are priced accordingly. With incomes at risk due to the virus the prices should be much lower. Same as interest rates now.

 

[citygator]

Wrong. With Joe winning the traders see that the US will not invest in US being a primary producer of oil so the futures are priced accordingly. With incomes at risk due to the virus the prices should be much lower. Same as interest rates now.

So you don’t telemarket oil securities unless you suck at it. Probably timeshares. Maybe you ought to tell me how to read these charts. First one by week recently. Second by year for many years.

Hint: Shows oil production going up every single year including up 77% from Obama start to finish. Shows Trump increased 27% in his years. Shows that it waned under Trump and Biden has grown it slightly but zero pullback.

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

 

[AzogtheDefiler]

So you don’t telemarket oil securities unless you suck at it. Probably timeshares. Maybe you ought to tell me how to read these charts. First one by week recently. Second by year for many years.

Hint: Shows oil production going up every single year including up 77% from Obama start to finish. Shows Trump increased 27% in his years. Shows that it waned under Trump and Biden has grown it slightly but zero pullback.

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

View attachment 528649

Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)

View attachment 528648

I said futures. And I do not telemarket lol. Your jealousy is noted since you’re not CEO material

Crude oil futures rise on bargain hunting, but pandemic concerns remain

0357 GMT: Crude oil futures were higher in mid morning trade in Asia Aug. 20 amid bargain hunting by investors after a sixth straight session of decline in US trade overnight, although the upside was

www.spglobal.com

 

[Lesh]

Nobody is complaining about oil prices.

We're complaining about 4 dollar a gallon GAS.

Jesus.

Fucking dope

 

[citygator]

I said futures. And I do not telemarket lol. Your jealousy is noted since you’re not CEO material

Crude oil futures rise on bargain hunting, but pandemic concerns remain

0357 GMT: Crude oil futures were higher in mid morning trade in Asia Aug. 20 amid bargain hunting by investors after a sixth straight session of decline in US trade overnight, although the upside was

www.spglobal.com

You literally have no idea what you are posting. Your article points to declining oil prices based on risk fears of covid negatively affecting economies. You are retarded. I’m sorry I picked on you.

 

[AzogtheDefiler]

You literally have no idea what you are posting. Your article points to declining oil prices based on risk fears of covid negatively affecting economies. You are retarded. I’m sorry I picked on you.

View attachment 528654

Exactly. Finally declining but they went up precipitously under Biden due to what I originally stated. Traders didn’t have much confidence in Biden and US oil production. Maybe you should stop posting as you’re embarrassing yourself.

 

[citygator]

Exactly. Finally declining but they went up precipitously under Biden due to what I originally stated. Traders didn’t have much confidence in Biden and US oil production. Maybe you should stop posting as you’re embarrassing yourself.

You can’t read. I posted crude production. You can’t show any reduction in production under Obama or Biden. You’re toast. Yawn on your insults. Cold calling telemarketers crack me up.

 

[hadit]

No. I want you to have indigestion while I criticize capitalism to my hearts content.

Criticize while benefitting from it.

 

[Lesh]

Cold calling telemarketers crack me up.

Yup.

That's Azog

 

[AzogtheDefiler]

You can’t read. I posted crude production. You can’t show any reduction in production under Obama or Biden. You’re toast. Yawn on your insults. Cold calling telemarketers crack me up.

Future production is what they price on not current. You aren’t speaking English. Not sure why you’re on this telemarketing bandwagon. Should I start making shit up about you now?

 

[citygator]

Future production is what they price on not current. You aren’t speaking English. Not sure why you’re on this telemarketing bandwagon. Should I start making shit up about you now?

And thus the price is at historically normal levels. Hmm. Must be that future production is going to be historically normal. You are all over the place. Look at the data. Price is normal. Production is high. The only way it looks weird is against all time lows achieved from suppressed demand during the Trump pandemic.

 

[frigidweirdo]

Currently oil prices are lower than almost any day from the end of 2004 through 2014. It’s also the same exact price as the average price in 2018. So, what exactly is the crisis?

View attachment 528249

Crude Oil Prices - 70 Year Historical Chart

Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

www.macrotrends.net

The coronavirus means lots of people aren't traveling, that uses a lot of oil.