asking why Democrats and Lefties are upset with oil and gasoline prices falling so much and so rapidly? Why are they mad more supply of oil and gasoline is available for consumers and businesses? Why do the Democrats want poorer people to suffer and hurt from the high prices the Democrats want to keep high with their GreenScam Inflation, Massive Democrat-led fraud schemes to steal money from the poor and lower classes?, And why do Democrats enjoy it so much when people are hurting and suffering but seem to hate it when times get better, prices go down, citizens are proud of America, foreign visitors for to the US for the World Cup are singing the US National Anthem with joy, waving American flags with joy, enjoying Waffle Houses, Ranch Dressing, Cowboy Hats and the freedom of the American Constitutional Republic? Could it be because in order for Democrats and their big government, tax and spend and fraud schemes to be successful, Americans have to be made miserable and hopeless? Could it be that when American Citizens are proud to be Americans, proud to build and work privately to create their own wealth, stand strong for the national borders and defense of the US homeland, require illegals to abide by the laws and ensure consequences for illegals and fraudsters when they do not, could it be that when those good things happen in America democrats see their lies and schemes exposed and their power evaporate in areas where Freedom reigns and the tyranny of Democratic and socialist policies is reduced or extinguished?
People thinking that the cost of oil actually has anything to do with the supply of oil. There has always been plenty of oil, the price reflects market uncertainty not product scarcity. Just like the price spiked when that retard Biden threatened all his green energy scam ****.
If there is ever true product scarcity the price will explode a lot more that a dollar or two.
Debating how many ships make it through the hormuz is retarded.
Dammit people. Think.
Its why investors arent biting on the oil companies screaming their inventories are very low. Not only is there no shortage of oil, Venezuela oil is now on the market, the USA is pumping out a sh*tton, and Iran has every storage tank filled to the brim and wil be allowed to sell it. Furthermore, a lot of this oil that used to be sold only on the black market (Venezuela and Iran) will now be sold in the regular market. This means China's price of oil goes up, while everyone else's goes down.
Its why Trump was brilliant to do this when he did. Trump was able to shut Iran's oil down completely and yet oil never got as high as it did under Biden*
Just for reference, the highest price for WTI under Biden was $113.77. It reached $110 at one point in early April of this year under trump. Not a huge difference.
People thinking that the cost of oil actually has anything to do with the supply of oil. There has always been plenty of oil, the price reflects market uncertainty not product scarcity. Just like the price spiked when that retard Biden threatened all his green energy scam ****.
If there is ever true product scarcity the price will explode a lot more that a dollar or two.
Debating how many ships make it through the hormuz is retarded.
Dammit people. Think.
Its why investors arent biting on the oil companies screaming their inventories are very low. Not only is there no shortage of oil, Venezuela oil is now on the market, the USA is pumping out a sh*tton, and Iran has every storage tank filled to the brim and wil be allowed to sell it. Furthermore, a lot of this oil that used to be sold only on the black market (Venezuela and Iran) will now be sold in the regular market. This means China's price of oil goes up, while everyone else's goes down.
Its why Trump was brilliant to do this when he did. Trump was able to shut Iran's oil down completely and yet oil never got as high as it did under Biden*
Just for reference, the highest price for WTI under Biden was $113.77. It reached $110 at one point in early April of this year under trump. Not a huge difference.
(06-11-2026 10:08 AM)mlb Wrote: Glad the tax breaks have brought the cost down... but I keep seeing articles that the oil and gas industry are warning that there is going to be a jump in the next month because inventories are dropping. Fingers crossed we don't get to that point, especially before I take my trip to the beach next month.
Those articles have been written since March. The Pascagoula Chevron refinery is at max capacity with the influx of Venezuelan oil coming in. US and Venezuelan production is only increasing. You can't listen to the guys that get huge bonuses when oil prices shoot through the roof. They WANT that to happen. Also, a lot more oil is moving through the Strait of Hormuz than these websites that "monitor" ship traffic, because the ships turn off their transponders. There is a reason oil is trading around $90/bbl now.
Trump said himself in his press conference today that the world was 4 weeks out from having an oil crisis due to the record low inventories across the globe. So unless you know more than him or the oil execs then it does seem as though it was/is a real risk.
He also said we have been escorting up to 30 ships a night through the Strait which we know to be true. The traders knew it as well as the Oil Executives. That's why oil prices plummeted. Executives wanted people to think it was still closed. I've said this three times now. The US has over 40 billion barrels of oil waiting to be pumped. We don't have a supply problem. The rest of the world does.
The US doesn't own that oil, and the US doesn't determine when or how quickly that oil actually gets pumped. If oil were nationalized and as a country we made the decision to massively ramp up drilling and pumping then sure your point would have some validity. That's not the case though, those decisions are made by the corporations that own the oil and the facilities and made based upon maximizing their profits not what's best for the country.
Also, normal traffic through the strait is between 120-140 ships per day. Up to 30 isn't nothing, but that's not game changing even if it was completely true. It was just a bandaide on the gunshot wound, maybe extending out the drop dead date longer.
Actually, the government owns 61% of all US oil and gas reserves.
People thinking that the cost of oil actually has anything to do with the supply of oil. There has always been plenty of oil, the price reflects market uncertainty not product scarcity. Just like the price spiked when that retard Biden threatened all his green energy scam ****.
If there is ever true product scarcity the price will explode a lot more that a dollar or two.
Debating how many ships make it through the hormuz is retarded.
Dammit people. Think.
Its why investors arent biting on the oil companies screaming their inventories are very low. Not only is there no shortage of oil, Venezuela oil is now on the market, the USA is pumping out a sh*tton, and Iran has every storage tank filled to the brim and wil be allowed to sell it. Furthermore, a lot of this oil that used to be sold only on the black market (Venezuela and Iran) will now be sold in the regular market. This means China's price of oil goes up, while everyone else's goes down.
Its why Trump was brilliant to do this when he did. Trump was able to shut Iran's oil down completely and yet oil never got as high as it did under Biden*
Just for reference, the highest price for WTI under Biden was $113.77. It reached $110 at one point in early April of this year under trump. Not a huge difference.
(06-11-2026 10:35 AM)Eagleaidaholic Wrote: Those articles have been written since March. The Pascagoula Chevron refinery is at max capacity with the influx of Venezuelan oil coming in. US and Venezuelan production is only increasing. You can't listen to the guys that get huge bonuses when oil prices shoot through the roof. They WANT that to happen. Also, a lot more oil is moving through the Strait of Hormuz than these websites that "monitor" ship traffic, because the ships turn off their transponders. There is a reason oil is trading around $90/bbl now.
Trump said himself in his press conference today that the world was 4 weeks out from having an oil crisis due to the record low inventories across the globe. So unless you know more than him or the oil execs then it does seem as though it was/is a real risk.
He also said we have been escorting up to 30 ships a night through the Strait which we know to be true. The traders knew it as well as the Oil Executives. That's why oil prices plummeted. Executives wanted people to think it was still closed. I've said this three times now. The US has over 40 billion barrels of oil waiting to be pumped. We don't have a supply problem. The rest of the world does.
The US doesn't own that oil, and the US doesn't determine when or how quickly that oil actually gets pumped. If oil were nationalized and as a country we made the decision to massively ramp up drilling and pumping then sure your point would have some validity. That's not the case though, those decisions are made by the corporations that own the oil and the facilities and made based upon maximizing their profits not what's best for the country.
Also, normal traffic through the strait is between 120-140 ships per day. Up to 30 isn't nothing, but that's not game changing even if it was completely true. It was just a bandaide on the gunshot wound, maybe extending out the drop dead date longer.
Actually, the government owns 61% of all US oil and gas reserves.
Can you source this please? From what I'm reading on Claude, your percentage seems misleading.
Quote:Federal Land and Mineral Estate Ownership
The federal government owns 61% of the U.S. onshore and offshore mineral estate. However, owning the mineral rights doesn't mean all of that oil and gas is being actively produced.
Share of Actual Production from Federal Lands
Despite owning 61% of the mineral estate, only about 25% of the nation's oil and 11% of its natural gas comes from those federal lands and waters. This gap exists partly because the federal government leases less than 3% of the federal offshore areas, and less than 6% of federal lands onshore are leased for oil and gas production.
Notable Federal Resources
The Bureau of Ocean Energy Management estimates that the Outer Continental Shelf — which encompasses 1.76 billion acres of submerged, taxpayer-owned lands — contains 86 billion barrels of technically recoverable oil, or more than 12 years of oil supply.
The USGS also estimates that Alaska's Arctic National Wildlife Refuge (ANWR) has a mean expected value of 10.4 billion barrels of recoverable oil.
The Strategic Petroleum Reserve (SPR)
Separately from reserves in the ground, the U.S. government directly owns a physical stockpile of oil. The Strategic Petroleum Reserve (SPR) — the world's largest supply of emergency crude oil — has its federally-owned oil stocks stored in huge underground salt caverns along the Gulf Coast. As of March 7, 2025, the inventory was 395.3 million barrels.
In Summary
The U.S. government owns a large share of the underlying mineral estate (61%), but the actual proved reserves being developed are predominantly on private and state lands. Only about a quarter of oil production and roughly a tenth of natural gas production currently come from federally owned lands and waters.
Gas prices today, just days after the signing of the MOU between the US, Iran and Pakistan, are still lower than they were in 2022 & 2023.
This doesn’t take into account the millions or more gallons of crude oil waiting in the Straits of Hormuz.
It also doesn’t take into account the urgency that Iran has in restarting its oil production which will flood the global markets.
Most importantly it doesn’t take into account the UAE joining Qatar in leaving OPEC. That may be one of the biggest results of the last few months to affect global gas prices.
06-20-2026 04:59 AM
bill dazzle
Craft beer and urban living enthusiast
Posts: 18,552
Joined: Aug 2016
Reputation: 2023
I Root For: Vanderbilt
Location: Nashville
Great to see the gas prices dropping. Very encouraging.
But I'm waiting for the price of a box of baking soda to drop. I recall when the price was $0.40 a box. Now it's $1.20. Maybe that $0.40 price was from more years back than I remember.
(06-17-2026 12:07 PM)mlb Wrote: Trump said himself in his press conference today that the world was 4 weeks out from having an oil crisis due to the record low inventories across the globe. So unless you know more than him or the oil execs then it does seem as though it was/is a real risk.
He also said we have been escorting up to 30 ships a night through the Strait which we know to be true. The traders knew it as well as the Oil Executives. That's why oil prices plummeted. Executives wanted people to think it was still closed. I've said this three times now. The US has over 40 billion barrels of oil waiting to be pumped. We don't have a supply problem. The rest of the world does.
The US doesn't own that oil, and the US doesn't determine when or how quickly that oil actually gets pumped. If oil were nationalized and as a country we made the decision to massively ramp up drilling and pumping then sure your point would have some validity. That's not the case though, those decisions are made by the corporations that own the oil and the facilities and made based upon maximizing their profits not what's best for the country.
Also, normal traffic through the strait is between 120-140 ships per day. Up to 30 isn't nothing, but that's not game changing even if it was completely true. It was just a bandaide on the gunshot wound, maybe extending out the drop dead date longer.
Actually, the government owns 61% of all US oil and gas reserves.
Can you source this please? From what I'm reading on Claude, your percentage seems misleading.
Quote:Federal Land and Mineral Estate Ownership
The federal government owns 61% of the U.S. onshore and offshore mineral estate. However, owning the mineral rights doesn't mean all of that oil and gas is being actively produced.
Share of Actual Production from Federal Lands
Despite owning 61% of the mineral estate, only about 25% of the nation's oil and 11% of its natural gas comes from those federal lands and waters. This gap exists partly because the federal government leases less than 3% of the federal offshore areas, and less than 6% of federal lands onshore are leased for oil and gas production.
Notable Federal Resources
The Bureau of Ocean Energy Management estimates that the Outer Continental Shelf — which encompasses 1.76 billion acres of submerged, taxpayer-owned lands — contains 86 billion barrels of technically recoverable oil, or more than 12 years of oil supply.
The USGS also estimates that Alaska's Arctic National Wildlife Refuge (ANWR) has a mean expected value of 10.4 billion barrels of recoverable oil.
The Strategic Petroleum Reserve (SPR)
Separately from reserves in the ground, the U.S. government directly owns a physical stockpile of oil. The Strategic Petroleum Reserve (SPR) — the world's largest supply of emergency crude oil — has its federally-owned oil stocks stored in huge underground salt caverns along the Gulf Coast. As of March 7, 2025, the inventory was 395.3 million barrels.
In Summary
The U.S. government owns a large share of the underlying mineral estate (61%), but the actual proved reserves being developed are predominantly on private and state lands. Only about a quarter of oil production and roughly a tenth of natural gas production currently come from federally owned lands and waters.
You have the info, you just can’t understand what you’re reading. What your info is saying is The federal government owns 61% of the energy reserves, but very little of it is being extracted. Most of the production comes from private and state lands. That means that the percentage owned by the federal government will actually increase as non-fed resources are depleted.
Now, the Fed could open up more of their reserves to sale or lease (drill baby drill) or the could want to kill the economy (Biden no new federal leases). So the point was yes, the government does own vast reserves and policy does play a direct role in the amount of that which is extracted.
(06-20-2026 04:59 AM)CardinalJim Wrote: Gas prices today, just days after the signing of the MOU between the US, Iran and Pakistan, are still lower than they were in 2022 & 2023.
This doesn’t take into account the millions or more gallons of crude oil waiting in the Straits of Hormuz.
It also doesn’t take into account the urgency that Iran has in restarting its oil production which will flood the global markets.
Most importantly it doesn’t take into account the UAE joining Qatar in leaving OPEC. That may be one of the biggest results of the last few months to affect global gas prices.
Good points. The timing of the downward trends could never be better.
(06-18-2026 07:24 AM)Eagleaidaholic Wrote: He also said we have been escorting up to 30 ships a night through the Strait which we know to be true. The traders knew it as well as the Oil Executives. That's why oil prices plummeted. Executives wanted people to think it was still closed. I've said this three times now. The US has over 40 billion barrels of oil waiting to be pumped. We don't have a supply problem. The rest of the world does.
The US doesn't own that oil, and the US doesn't determine when or how quickly that oil actually gets pumped. If oil were nationalized and as a country we made the decision to massively ramp up drilling and pumping then sure your point would have some validity. That's not the case though, those decisions are made by the corporations that own the oil and the facilities and made based upon maximizing their profits not what's best for the country.
Also, normal traffic through the strait is between 120-140 ships per day. Up to 30 isn't nothing, but that's not game changing even if it was completely true. It was just a bandaide on the gunshot wound, maybe extending out the drop dead date longer.
Actually, the government owns 61% of all US oil and gas reserves.
Can you source this please? From what I'm reading on Claude, your percentage seems misleading.
Quote:Federal Land and Mineral Estate Ownership
The federal government owns 61% of the U.S. onshore and offshore mineral estate. However, owning the mineral rights doesn't mean all of that oil and gas is being actively produced.
Share of Actual Production from Federal Lands
Despite owning 61% of the mineral estate, only about 25% of the nation's oil and 11% of its natural gas comes from those federal lands and waters. This gap exists partly because the federal government leases less than 3% of the federal offshore areas, and less than 6% of federal lands onshore are leased for oil and gas production.
Notable Federal Resources
The Bureau of Ocean Energy Management estimates that the Outer Continental Shelf — which encompasses 1.76 billion acres of submerged, taxpayer-owned lands — contains 86 billion barrels of technically recoverable oil, or more than 12 years of oil supply.
The USGS also estimates that Alaska's Arctic National Wildlife Refuge (ANWR) has a mean expected value of 10.4 billion barrels of recoverable oil.
The Strategic Petroleum Reserve (SPR)
Separately from reserves in the ground, the U.S. government directly owns a physical stockpile of oil. The Strategic Petroleum Reserve (SPR) — the world's largest supply of emergency crude oil — has its federally-owned oil stocks stored in huge underground salt caverns along the Gulf Coast. As of March 7, 2025, the inventory was 395.3 million barrels.
In Summary
The U.S. government owns a large share of the underlying mineral estate (61%), but the actual proved reserves being developed are predominantly on private and state lands. Only about a quarter of oil production and roughly a tenth of natural gas production currently come from federally owned lands and waters.
You have the info, you just can’t understand what you’re reading. What your info is saying is The federal government owns 61% of the energy reserves, but very little of it is being extracted. Most of the production comes from private and state lands. That means that the percentage owned by the federal government will actually increase as non-fed resources are depleted.
Now, the Fed could open up more of their reserves to sale or lease (drill baby drill) or the could want to kill the economy (Biden no new federal leases). So the point was yes, the government does own vast reserves and policy does play a direct role in the amount of that which is extracted.
Those are long term decisions. If the government opened up all of that land today it would be years before that oil could hit the market. If this were a short term fix then you could yell at Trump for not doing it, but that would be stupid.
(06-21-2026 11:58 PM)JMUDunk Wrote: Filled up with beer, some jerky and a tank full at $3.27 today.
It’ll be in the 2’s soon enough, so that’s done.
When’s the MOB gonna address the beer and jerky prices?
Panican Suckers
So, less than 90 days after Tom pulled the Chicken Little cord, we're headed quickly back down. He knew prices would drop as soon as this was over. It's just another thing to squawk about, b/c the Dems have zero policies that affect the US in a positive way.
