Petrol Price crisis......

[Romulus]

Originally Posted by jpd80

The truth behind that right wing nonsense was that the leases taken back by the government were ones that oil companies had shown no interest in developing. Those oil companies still have thousands of leases that have not been developed and won’t be because the oil companies are getting fat off charging higher prices on restricted supplies.

The real issue for the US is a lack of refining capacity since covid, there’s been a backlog of maintenance shutdowns, the refineries that are online are working flat out.

The other point is for all the talk of shortages because of embargos on Russian oil, there are not shortages in fuel supply, just higher prices which benefits all those already rich oil companies….

The American right’s indignation regarding lack of government action on inflation is counterbalanced by silence or lack of criticism of all those corporates making out like bandits on higher prices…..where is the condemnation of their own financial contributors….

It comes down to this, in a free market, how much can a government really do to control prices set by independent businesses, how far could a government go without crossing a line…

The truth behind that left wing response is governments demonising the oil industry, telling them they'll be surplus to the economies requirements as energy will be replaced with wind, solar, renewables and fairy dust.

In the absence of the oil industry spending billions on exploration and drilling they're buying back shares and reporting billions in profit. And why not. Why invest in your industry when governments tell you they no longer want you around.

[roKWiz]

Originally Posted by Romulus

The truth behind that left wing response is governments demonising the oil industry, telling them they'll be surplus to the economies requirements as energy will be replaced with wind, solar, renewables and fairy dust.

In the absence of the oil industry spending billions on exploration and drilling they're buying back shares and reporting billions in profit. And why not. Why invest in your industry when governments tell you they no longer want you around.

The oil companies are smart in future proofing themselves by buying up renewable energy companies as well.

[jpd80]

Originally Posted by Romulus

The truth behind that left wing response is governments demonising the oil industry, telling them they'll be surplus to the economies requirements as energy will be replaced with wind, solar, renewables and fairy dust.

In the absence of the oil industry spending billions on exploration and drilling they're buying back shares and reporting billions in profit. And why not. Why invest in your industry when governments tell you they no longer want you around.

I’m not left wing, I consider myself centrist but the truth with American politics is when you get past the heart, the facts don’t matter…and that applies equally to the left and the right, no one is listening.

As I said before there is no oil shortage, just a shortage of refining capacity, the leases that Biden took back were a tiny fraction of the total available and they were ones that oil companies had no near future intention of even using.


All I’m saying is that all inflation and jacked up prices for fuel is mostly manufactured and a con of huge proportions. Follow the money and see who is making out like bandits, oil companies and multinationals all of them restricting supply just enough to drive up prices..

sure, Oil companies invest billions in searching for new oil but they also expect big handouts from the US government as well. So all of this is at a crucial stage where governments have no alternatives beyond battery electric vehicles, what’s their policy on moving away from coal to get to that true clean energy?
Answer is that still a massive work in progress but I’m sure the greens have plenty of invented money to spend…

[jpd80]

Originally Posted by roKWiz

The oil companies are smart in future proofing themselves by buying up renewable energy companies as well.

And this is the point, the oil companies know that times are changing and investing in renewables will actually
help them extend the life of their oil, gas and coal resources, profits from gas are through the roof.

Powerful money always finds a way of being involved in the global economy, big oil is not going away.

[roKWiz]

Originally Posted by jpd80

And this is the point, the oil companies know that times are changing and investing in renewables will actually
help them extend the life of their oil, gas and coal resources, profits from gas are through the roof.

Powerful money always finds a way of being involved in the global economy, big oil is not going away.

I remember BP buying our Aussie made "Solarex" solar panels company shortly after they had that major oil disaster in the Gulf of Mexico. Waited a while for the dust to settle then re branding itself as Beyond Petroleum with most of Australian petrol stations being covered in the new "BP" solar panel. Probably did the same in several other countries using a similar technique.

We then lost the last Aussie made solar panel but I do have 18 of them on my roof.

[Franco Cozzo]

Originally Posted by roKWiz

I remember BP buying our Aussie made "Solarex" solar panels company shortly after they had that major oil disaster in the Gulf of Mexico. Waited a while for the dust to settle then re branding itself as Beyond Petroleum with most of Australian petrol stations being covered in the new "BP" solar panel. Probably did the same in several other countries using a similar technique.

We then lost the last Aussie made solar panel but I do have 18 of them on my roof.

There's still one left - Tindo Solar Australia

https://www.tindosolar.com.au/

**** business name though, not sure how the indigenous community feels with white boy appropriating their culture

[roKWiz]

Originally Posted by Franco Cozzo

There's still one left - Tindo Solar Australia

Great to know there's still one....... but........ I should have said amorphous solar panels I note they are making mono's.

We did 660km's today to Coffs Harbour and back to look at a potential buy.


Cost me $120 in Diesel... plus lunch


Ahh well....

[Bossxr8]

Originally Posted by Romulus

The truth behind that left wing response is governments demonising the oil industry, telling them they'll be surplus to the economies requirements as energy will be replaced with wind, solar, renewables and fairy dust.

In the absence of the oil industry spending billions on exploration and drilling they're buying back shares and reporting billions in profit. And why not. Why invest in your industry when governments tell you they no longer want you around.

This pretty much sums it up. Doing all they can to stifle US oil production, while Biden goes begging to the Saudi's to boost production to lower oil prices.

Originally Posted by mad2

no he won't ........ THAT would be the forkhead before him.

Not even close. Biden has managed to ruin everything he has touched within 2 years. Obama was right when he said "never underestimate Joe's ability to screw things up".

[GasoLane]

Originally Posted by Bossxr8

This pretty much sums it up. Doing all they can to stifle US oil production, while Biden goes begging to the Saudi's to boost production to lower oil prices.

A couple of reads for you....................

https://www.snopes.com/news/2022/06/...th-gas-prices/

https://www.snopes.com/ap/2022/06/15...fewer-profits/

[Bossxr8]

Originally Posted by GasoLane

A couple of reads for you....................

https://www.snopes.com/news/2022/06/...th-gas-prices/

https://www.snopes.com/ap/2022/06/15...fewer-profits/

Snopes

Might as well post articles from the Russian Propaganda Ministry, they would be about as accurate.

[Sprintey]

Originally Posted by Franco Cozzo

There's still one left - Tindo Solar Australia

https://www.tindosolar.com.au/

**** business name though, not sure how the indigenous community feels with white boy appropriating their culture

Hmm you are right, how about changing the name slightly

Tinder Solar

[Sprintey]

Young one reckons he saw $2.32 locally for unleaded yesterday

That's pretty nuts. Almost time to ring the insurance company and add the remaining jerry in the garage to the home and contents as an individual item

Pretty soon prices like that are going to start breaking things

Gas: just got the bill. I have a young one studying interstate, so the gas bill is now down to 2/3s of consumption... nice! But the bill is higher... the gas cost itself up 16% on the January bill period, the service charge up 14% (how? did the intert line already placed suddenly get more expensive? Meters depreciated slower?)

Again, there will be a point things begin to break

Govco says, 'yeah, it'll be right, you'll have green energy by <insert some time in the far future>, the pioneers went cold, too.'

Shouted a jerry to the Land Rover and went and did some excellently tough, muddy local tracks - post covid car fun! No urban hooning at all. There's nothing like the sound of a V8 crackling at limits in a quiet valley lol At current prices that's $46 well spent

[GASWAGON]

New record for 91 just set today.

$2.39 at Ringwood North 7/11.

This is not good!

[T3rminator]

Originally Posted by GASWAGON

New record for 91 just set today.

$2.39 at Ringwood North 7/11.

This is not good!

Yikes...can see 98 @ $2.60 there!! Thanks for the heads up. Time to lock in current $2.2x on Mobil 98!

[Franco Cozzo]

Bring it on - $3/L for 98 by end of year

Lets see how high she can go, lets make this **** like Sydney house prices.

[hackney]

Originally Posted by Franco Cozzo

Bring it on - $3/L for 98 by end of year

Lets see how high she can go, lets make this **** like Sydney house prices.

That ‘cheap’?

[five 7]

Originally Posted by Franco Cozzo

Bring it on - $3/L for 98 by end of year

Lets see how high she can go, lets make this **** like Sydney house prices.

Come live in NZ Franco and your dreams can be realized now...

[Sprintey]

Originally Posted by Franco Cozzo

Bring it on - $3/L for 98 by end of year

Lets see how high she can go, lets make this **** like Sydney house prices.

Mad Max preconditions intensify

[smoo]

Originally Posted by five 7

Come live in NZ Franco and your dreams can be realized now...

image

And additional to that diesel cost is around $55 per 1000km in mileage tax, temporarily down from $76/1000km to alleviate the pain.
So diesel makes no sense what so ever for most light vehicle applications.
Although I just picked up a Peugeot 406 hdi for $1500. Disconnecting the speedo on the weekend for the cheapest motoring this side of an EV.

[Franco Cozzo]

Originally Posted by five 7

Come live in NZ Franco and your dreams can be realized now...

image

Yasssssssss!

Bring on $5/L for 91, 20% interest rates, stock market and crypto crash and while we're at it, World War III.

Then once World War III is over, whoever is left we'll ****en sort out them too!

[Wretched]

Prices will never go below $2 a litre for 91. GovCo is drunk on the taxes.
Us Victorians have also had an increase in the EV/Hybrid tax too. I feel so sorry for the anyone with a PHEV - potentially having to pay all these taxes - LCT, GST, Stamp Duty, fuel excise and km charge. The car is almost the cheapest part.

Better dust off those guillotines.

[Blue Ice]

[kypez]

The real fun starts in September once the Excise is put back to 44 cents. This is just warming people up for the big show. I've not filled the GTF this year ($1.84 when I last filled it) and it was under $2.04 for 98 when I filled up the Mustang last. Not looking forward to filling them any time soon.

[Romulus]

Originally Posted by Franco Cozzo

Bring it on - $3/L for 98 by end of year

Lets see how high she can go, lets make this **** like Sydney house prices.

Yep, $3/L by the end of the year. However, our friend Chalmers said to vote for him, his party has a fix to rising inflation.

Anyone who thinks the property bubble won't burst is deluding themselves, plenty of folk who FOMO'd into to market since mid 2020 with 90% + LVR's are going to find themselves in difficult financial situation. Increasing repayments and falling property values.

CBA just lifted their fixed year 2-5yr rate by 1.4%. Cash rate will be at least 3% by years end. WOW.

[Bossxr8]

Originally Posted by Romulus

Yep, $3/L by the end of the year. However, our friend Chalmers said to vote for him, his party has a fix to rising inflation.

Anyone who thinks the property bubble won't burst is deluding themselves, plenty of folk who FOMO'd into to market since mid 2020 with 90% + LVR's are going to find themselves in difficult financial situation. Increasing repayments and falling property values.

CBA just lifted their fixed year 2-5yr rate by 1.4%. Cash rate will be at least 3% by years end. WOW.

The inevitable recession should quickly bring interest rates down. In theory anyway.

I don't think there is going to be anything that can stop the inevitable at this point. It's going to happen.

[Sprintey]

You could almost say...

It's the recession...

We had to have!





(insert CSI theme music as I lift my shades)

[Sprintey]

Originally Posted by kypez

The real fun starts in September once the Excise is put back to 44 cents. This is just warming people up for the big show. I've not filled the GTF this year ($1.84 when I last filled it) and it was under $2.04 for 98 when I filled up the Mustang last. Not looking forward to filling them any time soon.

Yep, the 1.92 jerrys are now empty. Note to self, do all interstate driving and be back by September.

Only hope is that now rate rises have started 'correcting' things, by September they 'correct' the oil market enough to begin lowering fuel price. Commodities vs central banks, round 1, fight!!!

[Franco Cozzo]

*Laughs in no licence*

[jpd80]

Originally Posted by Bossxr8

This pretty much sums it up. Doing all they can to stifle US oil production, while Biden goes begging to the Saudi's to boost production to lower oil prices.

There is no oil shortage in the US, refining capacity is restricted but that is because the oil companies want it that way because it pushes up gasoline and diesel prices…

If you want to see who’s really controlling things, follow the money, profits from big oil, multinationals and just about every business has made good profits coming out of covid lockdowns. The people really hurting are the working class with higher mortgages and crashing super funds and no pay increases because well, that would be inflationary…….see the irony?

Not even close. Biden has managed to ruin everything he has touched within 2 years. Obama was right when he said "never underestimate Joe's ability to screw things up".

How much has Joe actually been allowed to achieve?
Zero beyond what those Republican Senators will allow to pass, so far it’s one infrastructure bill that they supported, the other +$4 Trillion of desired programs died because they would never be supported by the Republicans.

Unlike our Westminster system, a vote in the US senate has to pass by at least 10 votes……..The Dems and Biden never stood a chance with a 50 Dem & 50 Rep house split. Nothing they do under Biden’s presidency will matter because from here to eternity nothing will never pass the senate without huge Republican support and that’s never going to happen, ever.