$6.00 gas?

[boston_e]

$2.68 (cash price) for a fill up yesterday.

[easyrider16]

Yeah, I don't buy it. Releasing strategic oil reserves in that amount is literally a drop in the bucket. 180 mil barrels? world oil production is 80-90 mil per day. So congratulations, you increased supply by 2 days worth, a fraction of a percent per year.

Some more numbers - U.S. oil production went from around 11mil bpd to around 13 mil bpd from 2020-2023. That's a delta of 2 mil bpd, which on an annual basis is well over 700 mil barrels per year, or more than triple the release of the strategic oil reserve on an annualized basis. Further, unlike the release of the strategic oil reserve, the increase in oil production is not temporary, and it continues to increase.

Source: https://www.eia.gov/dnav/pet/hist/LeafH ... RFPUS2&f=M

That's the story, here - it's massive increases in U.S. production that are driving this price change. Biden has little to do with it. It's the free market at work.

[deadheadskier]

No, no. Gas production and prices would certainly be better under Republicans like Trump. Folks like Moose have made very compelling arguments for this truth such as Republicans simply talking nicer about the gas companies, so that inspires them to do more when Conservatives are in office vs Liberals

Heck, Trump reminds us all the time how gas got as low as $1.75 a gallon back when he was president!!!

[easyrider16]

I think you're being unfair to Moose, there. I don't think he's wrong that U.S. Presidents can do things to try to influence the climate for oil production. You also have to admit that Biden sounded pretty hostile to the oil industry when he first took office. I just disagree that it made much difference in the real world, especially since Biden didn't have congress and/or the courts on its side.

Now if Biden could get legislation through congress that materially affected the oil industry, or if the Supreme Court upheld his administration's early decisions on stopping oil leases, that might have had a lot more of an effect. As it stands, though, Biden's been about as useless as Trump was when it comes to affecting the price of oil.

[deadheadskier]

Sure. My point is that by and large, the actions of Presidents have had very little to do with the prices of a globally traded commodity.

However, the general population of Americans are absolute idiots when it comes to understanding gas prices. I mean look at what Trump says about gas being $1.75 in November of 2020. His voters actually look at that as a function of his policies and not the greatest slowdown in travel / demand in modern history? Trump knows his supporters are total idiots and he can get away with saying something so completely stupid.

[Killington_Lover]

The difference that matters is whether you like EVs shoved down your throat or policy like banning/phasing out new ICEs (looking at you CA) or support a robust fossil fuel industry. I work in construction and electric just isn’t there yet. Funny the military gets trucks and machinery without DPFs and DEF yet all of our trucks and equipment has that crap on it. I guess it’s cool to make whatever 3rd world country we occupy have reliable, non emissions compliant stuff. I’m surprised progs haven’t insisted on protecting our enemies lungs.

[Bubba]

(Vermont) Gasoline prices hold steady, expected to decline in 2024

https://vermontbiz.com/news/2023/decemb ... cline-2024

[daytripper]

I filled up for $3.09 today.