WA state about to see $0.47 increase is gas prices

[mspart]

Removing oil from the Strategic Oil Preserve (SOP) does not lower prices sufficiently.   All it does is lower our cache of oil for a time of real trouble.  And I believe that is a National Defense issue like sending all our manufacturing overseas is a National defense issue.  Balance that out.   What is up the D's sleeve when SOP is drained to zero?  

mspart

[Mike Parrish]

49 minutes ago, mspart said:

Removing oil from the Strategic Oil Preserve (SOP) does not lower prices sufficiently.   All it does is lower our cache of oil for a time of real trouble.  And I believe that is a National Defense issue like sending all our manufacturing overseas is a National defense issue.  Balance that out.   What is up the D's sleeve when SOP is drained to zero?  

mspart

Studies show a drop of ~0.50 in retail gas prices from this action.

I would imagine with that kind of buffer, the idea is to replenish when prices drop.

[mspart]

42 minutes ago, Mike Parrish said:

Studies show a drop of ~0.50 in retail gas prices from this action.

I would imagine with that kind of buffer, the idea is to replenish when prices drop.

How long was that price drop?  Oil from the reserve was good for only a few days consumption.

mspart

[Mike Parrish]

1 hour ago, mspart said:

How long was that price drop?  Oil from the reserve was good for only a few days consumption.

mspart

I did some work a while ago as a software guy on the Chicago Mercantile Exchange.

Just how much commodity prices move for seemingly insignificant events was pretty eye opening.

[Mike Parrish]

This might have something to do with the gas prices.

https://www.reuters.com/business/energy/chevron-raises-quarterly-dividend-announces-75-bln-buyback-program-2023-01-25/

[El Luchador]

On 1/21/2023 at 10:05 AM, Plasmodium said:

I can't find anything demonstrate that.   I'm reading there are more full time employees now than ever.

I listened to a long podcast cast that went into depth on the subject. It is accurate. 

[El Luchador]

12 hours ago, Mike Parrish said:

I did some work a while ago as a software guy on the Chicago Mercantile Exchange.

Just how much commodity prices move for seemingly insignificant events was pretty eye opening.

It's still temporary and artificial. 

[BerniePragle]

13 hours ago, Mike Parrish said:

I did some work a while ago as a software guy on the Chicago Mercantile Exchange.

Just how much commodity prices move for seemingly insignificant events was pretty eye opening.

It's simply a "herd mentality".  Everybody's watching everybody else.  Somebody does something, everybody follows suit.  The computers simply compress the time frame.  I'm thinking some day we will be at the gas station and the price on the pump will change as we are filling up.  Do we squeeze the handle now or do we wait for a better price?

[Plasmodium]

1 hour ago, El Luchador said:

I listened to a long podcast cast that went into depth on the subject. It is accurate. 

LOL

[mspart]

11 hours ago, BerniePragle said:

It's simply a "herd mentality".  Everybody's watching everybody else.  Somebody does something, everybody follows suit.  The computers simply compress the time frame.  I'm thinking some day we will be at the gas station and the price on the pump will change as we are filling up.  Do we squeeze the handle now or do we wait for a better price?

Back in the day when a gas war produced 18.9 cents a gallon, watching the pennies made a difference.   Normal gas was 21.9 and 24.9.   When gas went to 34.9 my dad blew a gasket.  Yes, I'm that old and remember all of that.  Now with prices as high as they are, buying gas at $4.359 instead of $4.369 doesn't save enough money to make that trip if it is further. 

mspart

[BerniePragle]

16 minutes ago, mspart said:

Back in the day when a gas war produced 18.9 cents a gallon, watching the pennies made a difference.   Normal gas was 21.9 and 24.9.   When gas went to 34.9 my dad blew a gasket.  Yes, I'm that old and remember all of that.  Now with prices as high as they are, buying gas at $4.359 instead of $4.369 doesn't save enough money to make that trip if it is further. 

mspart

Maybe I was not clear enough.  I meant a future where the price shown on the pump we were at changed as we watched, ready to pump.  If I extrapolate from back when, to today, to the future, that's not so terribly far-fetched.  You're just a youngster, I grew up riding donkeys and wearing fig leaves.  Gaso-what?

[El Luchador]

On 1/26/2023 at 8:42 AM, Plasmodium said:

LOL

What's funny about it. You're denial of the fact doesn't change it. The most competent and productive group of workers is leaving and being driven out of the work place. It should be obvious by observation.  The number 1 issue most companies have today isn't getting workers it's getting competent and productive workers. 

[mspart]

16 hours ago, BerniePragle said:

Maybe I was not clear enough.  I meant a future where the price shown on the pump we were at changed as we watched, ready to pump.  If I extrapolate from back when, to today, to the future, that's not so terribly far-fetched.  You're just a youngster, I grew up riding donkeys and wearing fig leaves.  Gaso-what?

I was just supplying an anecdote from my past.   That said, you ARE old!!

mspart

[Mike Parrish]

1 hour ago, mspart said:

I was just supplying an anecdote from my past.   That said, you ARE old!!

mspart

I remember my mom buying gas on the way to Disneyland for $0.24/gallon.

I was ~5, we stopped to get gas on I5, there was a promotional signup thing where you got a plastic Noah's ark and a couple of pairs of plastic animals along with a discount tank fill.

Edited January 27, 2023 by Mike Parrish

[mspart]

I grew up in Huntsville, AL.   That's where I remember 18.9 cents a gallon.  Normally it was 21.9 cents.   I don't remember getting any kind of toy or anything.   You are one lucky one Mike. 

mspart

[Mike Parrish]

1 hour ago, mspart said:

I grew up in Huntsville, AL.   That's where I remember 18.9 cents a gallon.  Normally it was 21.9 cents.   I don't remember getting any kind of toy or anything.   You are one lucky one Mike. 

mspart

Once my grandpa saw how much I liked that toy, he made it a point to get gas every week at the local station and insisted on the free toys.

I had ~200 plastic animals by the time the promotion ended.

I think it was this one. Or one very close to it.
https://www.tgldirect.com/vintage-1972-arco-gas-noahs-ark-play-set-with-noah-ramp-and-38-animals

[mspart]

I like the cavemen or ape men.   Nice touch!!

Very nice of your grandpa.   My grandpa on my dad's side died when I was -19 years old.   I never knew him of course  My other grandpa died when I was +32.   I did know him.   Was an English Prof at Wash State University - Go Cougs!   He actually believed that Shakespeare wrote his stuff by himself.  

mspart

[mspart]

Gas jumped another 10 cents a gallon from Thu to Fri.  The carbon tax is taking effect.   Gas prices in states around us are going down.  Ours are going up. 

mspart

[Bigbrog]

I remember my dad giving me a dollar to go pay for the gas he put in the car (~4 gallons), then said grab a bag of ice, I said don't I need money, he said its just frozen water and water is free, so I proceeded to steal a bag of ice from the store.

[mspart]

I guess that's a way to look at it.  The wrong way, but a way.

mspart

[RYou]

New York is raising the cigar tax to 95%.  The tax for recreational MJ is only 13%.  What message are they sending?....and they aren't even Cubans.

 

[mspart]

On 1/30/2023 at 9:24 AM, mspart said:

Gas jumped another 10 cents a gallon from Thu to Fri.  The carbon tax is taking effect.   Gas prices in states around us are going down.  Ours are going up. 

mspart

Gas went up another 10 cents a gallon.   That is 20 cents a gallon in less than a week.   And this is at the cheapest gas stations where I get gas.   They are always way under the competition so they are feeling the wholesale difference.   Gotta love that carbon tax.   While everyone else's gas is going down in price, ours is going up. 

mspart

[Mike Parrish]

Might be relevant.

https://www.reuters.com/business/energy/exxon-smashes-western-oil-majors-earnings-record-with-59-billion-profit-2023-01-31/

[BerniePragle]

2 hours ago, Mike Parrish said:

Might be relevant.

https://www.reuters.com/business/energy/exxon-smashes-western-oil-majors-earnings-record-with-59-billion-profit-2023-01-31/

In the immortal words of Gomer Pyle, Surprise, Surprise, Surprise.

And, the federal government still pays them billions to drill.  Good work if you can get it. 

[jross]

On 1/27/2023 at 2:42 PM, Mike Parrish said:

Once my grandpa saw how much I liked that toy, he made it a point to get gas every week at the local station and insisted on the free toys.

I had ~200 plastic animals by the time the promotion ended.

I think it was this one. Or one very close to it.
https://www.tgldirect.com/vintage-1972-arco-gas-noahs-ark-play-set-with-noah-ramp-and-38-animals

You could find the vintage collection and buy it for nostalgia.