Explanation of Gas Prices
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antithesis
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Posted 6:01 pm, 01/28/2021
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Maybe, I don't know... but until something happens to convince all of the trucking companies that move away from using fossil fuels, then it's going to affect our cost of living.
Beyond just that, supposedly "more than 6,000 products are made from oil and gas."
Asphalt, fertilizer, detergents, furniture, paints, clothing, solvents, wax, car bodies, literally all plastics... the list just never stops. So they're all affected by the cost of crude oil.
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Acumen
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Posted 5:11 pm, 01/28/2021
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We now have rare earth magnets you can hold in the palm of your hand that can lift over 1200 lbs. The Chinesse are producing batteries that will not discharge for 10 years.
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Acumen
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Posted 5:08 pm, 01/28/2021
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There are two areas of technology that will make electric car and truck workable. Rare earth magnets and battery technology. Who knows, in the near future we may have electric cars that will run on AA batteries.
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MarieLaveau
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Posted 4:41 pm, 01/28/2021
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Yea Acumen, i'm sure 4 AA batteries could haul 75-80 thousand pounds for hundreds of miles... 
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Acumen
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Posted 4:38 pm, 01/28/2021
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I have over 20 years of experince in leading edge electronics, I do know pretty much about what I am saying.
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Joseph T.
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Posted 4:35 pm, 01/28/2021
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Acumen (view profile) | Posted 4:15 pm, 01/28/2021 | It is even easier for a truck to go electric than a car. Trucks have a lot of roof space for solar cells.
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not enough to power the truck it is clear that you have no idea what you are talking about
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Acumen
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Posted 4:15 pm, 01/28/2021
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It is even easier for a truck to go electric than a car. Trucks have a lot of roof space for solar cells.
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hobo
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Posted 4:05 pm, 01/28/2021
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with a wave of his pen Joe Biden signed that paper and killed the Keystone Pipeline now Gas Prices are going through the roof What Biden has done in office is hurting the American People
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antithesis
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Posted 4:05 pm, 01/28/2021
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To be fair, 1048, gas prices affect the cost of food and other necessities. I could buy an electric car, but unless trucking companies all go electric...
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Acumen
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Posted 4:02 pm, 01/28/2021
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If you are so worried about gas prices, buy an electric car. Get one of those $25K to $35K electric cars with a solar battery charger and drive for free. It will pay for the car in 10 years.
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antithesis
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Posted 3:57 pm, 01/28/2021
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When exactly did the market crash?
February 20... which is more or less in line with the aforementioned blue line.
Biden and his policies will raise the price which will fuel more speculative investors. But without the catalyst of an administration whose policies are perfect for prices to increase, like Biden's are, there is no room for speculators.
According to Gas Buddy, on January 24, 2019, gas in Wilkes was $2.25. On April 24, 2019, it was $2.62, and January 13, 2020 it was $2.35. So it looks like today's price of $2.35 is back in line with where it was before the market crashed.
I'll be interested to see if Biden creates any policies that could directly impact gas prices. His moratorium on new oil and gas leases on federal land might have a small impact on jobs, but I doubt that it affects gas prices (at least, not noticeably). If he finds a way to increase our supplies without increasing the national debt, though, then it could make the prices go down again.
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aFicIoNadoS
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Posted 3:37 pm, 01/28/2021
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When exactly did the market crash? You're stretching the facts again there.
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skeptic
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Posted 3:33 pm, 01/28/2021
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Speculation has become a big factor in oil prices. If investors start buying futures when they know that the price will go up then that only fuels the rise. Biden and his policies will raise the price which will fuel more speculative investors. But without the catalyst of an administration whose policies are perfect for prices to increase, like Biden's are, there is no room for speculators.
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antithesis
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Posted 1:51 pm, 01/28/2021
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Gas prices are determined based on oil futures... or, the price that crude oil futures are trading at on the market.
Last week, oil futures went up after the EIA reported a drop in US crude supplies, which is why prices started to go up:
This decrease in US supplies began in December 2020:
https://www.spglobal.com/pl...month-high
For the most part, gas prices are directly proportionate to that blue line.
Why was there a decrease, you ask?
Trump actually did do a good thing * in 2020... when the market crashed, he took advantage of the low prices and ordered the US energy officials to purchase enough oil to last us for the rest of 2020. This is why the supply increased and gas prices decreased:
(* he bought it on credit, which put the US in more debt... so I guess it's debatable on whether that was a good thing)
But now that supply is gone (as was planned), so gas prices go back to where they were at the beginning of 2020.
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