What are you guys paying for gas?

[Deleted member 28227]

They sure are making hay now...2020 is ancient history. So they "lost" 22 billion in one year, they have made that back in profit in 2 quarters.

I wish I had a violin...I feel so sorry for their one year "loss".

Fiddle away buzz. My comments have been towards explaining cause and effect.

Demand tanked, OG companies took massive losses. They (companies + their financiers) have been on the back foot when demand rebound, this has been exacerbated by geo politics aka Ukraine.

A lot of companies and jobs were lost in 2020, those who were left standing are reaping a huge windfall.

The US doesn't proration oil, there isn't a US version of OPEC. So everyone typically flows all out... which is why we have boom and bust.

 

[Deleted member 28227]

The breaking point is called demand destruction. Diesel prices are there.

Exactly and everyone is trying to figure out where we land with demand destruction + adding additional supply.

 

[BigHornRam]

Exactly and everyone is trying to figure out where we land with demand destruction + adding additional supply.

Lot of sellers right now in the investment world. Not a lot of buyers. Very uncertain times right now.

 

[BuzzH]

Fiddle away buzz. My comments have been towards explaining cause and effect.

Demand tanked, OG companies took massive losses. They (companies + their financiers) have been on the back foot when demand rebound, this has been exacerbated by geo politics aka Ukraine.

A lot of companies and jobs were lost in 2020, those who were left standing are reaping a huge windfall.

The US doesn't proration oil, there isn't a US version of OPEC. So everyone typically flows all out... which is why we have boom and bust.

View attachment 222213

Right, really only 3 quarters of "loss", preceded by who knows how many good years, followed by steady upward profit for the next 5-6 quarters and resulting in 7 year record profits.

All on a commodity that we absolutely must have to function, controlled by a handful of players, and subsidized via bargain basement public lands leases.

If a company in that type of environment folds, I cant find where I'm supposed to be sympathetic.

 

[F250]

I really don’t care how much money investors and businesses make. I neither follow nor understand corporate business. The average American’s life is upside down with these gas and diesel prices. The current group of folks in Washington wanted control of the Government. They got. Now they need to get off their azzes !

 

[Deleted member 28227]

Right, really only 3 quarters of "loss", preceded by who knows how many good years, followed by steady upward profit for the next 5-6 quarters and resulting in 7 year record profits.

All on a commodity that we absolutely must have to function, controlled by a handful of players, and subsidized via bargain basement public lands leases.

If a company in that type of environment folds, I cant find where I'm supposed to be sympathetic.

Federal leases are cheap via rates, but a PITA, so terms of probability I would 100% rather work at a company on private than fed. That's pretty common sentiment, fed is considered a check mark against a company.

Personally though I think that's net net a good thing, public lands should be IMHO drilling locations of last resort.

controlled by a handful of players

The Majors: Exxon, Chevron, Shell, BP
Independents: 54 Public companies
Privates: 9,000 different operators
Then there like 50 Midstream companies, refiners, most gas stations are semi independent, etc.

Not sure what the bar is for diversification, the US is certainly more diversified than say Russia, or Saudi.


I don't really care either if companies make shitty decisions and go under, but I do recognize that in a good market the C-suite reaps all the benefit and in a downturn the lower level employee bear the brunt of the fall.

There was a one day in 2020 when 6,000 people in the industry lost there job, 120,000 jobs total in 2020. I feel bad for them, their peers in similar positions who kept their jobs aren't getting paid any more in 2022 than 2020.

There is also fact that the US is an major oil economy. What happens to WY, AK, TX, OK, PA, ND when the fields get to the end of their life?

 

[antelopedundee]

I haven't really bought much gas since last Oct because I couldn't drive due to health issues. Last Friday I topped off my 2006 Ford Explorer with no alcohol unleaded. I stopped at about $80 and I could have added more. Fortunately I don't drive a lot so these higher prices don't affect me much.

 

[FI460]

The average American’s life is upside down with these gas and diesel prices.

Is it though? I can't say I know anyone who is actively reducing their gas consumption. Most folks are still road tripping on the weekend. I'm watching multiple groups of friends and family travel across the south west in motorhomes on social media.

Everyone is complaining about the gas prices. Nobody I know is changing their behavior because of them.

 

[Deleted member 28227]

View attachment 222238

Is it though? I can't say I know anyone who is actively reducing their gas consumption. Most folks are still road tripping on the weekend. I'm watching multiple groups of friends and family travel across the south west in motorhomes on social media.

Everyone is complaining about the gas prices. Nobody I know is changing their behavior because of them.

I couldn't find that chart for on-highway diesel, but I think with current prices we will see demand destruction. To @Derek44 point, those are crazy prices and the differential to gas it ridiculous.

For gas... I'm not sure.

 

[hank4elk]

View attachment 222238it

Is it though? I can't say I know anyone who is actively reducing their gas consumption. Most folks are still road tripping on the weekend. I'm watching multiple groups of friends and family travel across the south west in motorhomes on social media.

Everyone is complaining about the gas prices. Nobody I know is changing their behavior because of them.

It has effected most folks I know, but we're poor simple folks. LOL I see the RV's and razors all the time, and they are bad tippers I hear.
Glad I'm not trying to live on $12 hr with $4.50 gas and an hours drive to anything.

 

[runningmt]

$4.29 for corn fed cheap gas in Bozeman today

 

[Nick87]

Is it though

Yes.

 

[Gellar]

4.249 for 87 octane ethanol
5.249 for boat gas.

 

[DouglasR]

View attachment 222238

Is it though? I can't say I know anyone who is actively reducing their gas consumption. Most folks are still road tripping on the weekend. I'm watching multiple groups of friends and family travel across the south west in motorhomes on social media.

Everyone is complaining about the gas prices. Nobody I know is changing their behavior because of them.

Yeah I’m not trying to pile on you but it’s definitely gonna be a contributing factor in me not doing as much mountain biking this summer

 

[FI460]

Yeah I’m not trying to pile on you but it’s definitely gonna be a contributing factor in me not doing as much mountain biking this summer

I sort of think that's a HT exceptionalism phenomenon though. Most folks here are more budget conscious than the average American.

What I'm getting at is I'm not seeing commensurate behavior changes from folks.

 

[Nick87]

I sort of think that's a HT exceptionalism phenomenon though. Most folks here are more budget conscious than the average American.

What I'm getting at is I'm not seeing commensurate behavior changes from folks.

I'm still going hunting but cut out else where.

 

[Nick87]

View attachment 222238

Is it though? I can't say I know anyone who is actively reducing their gas consumption. Most folks are still road tripping on the weekend. I'm watching multiple groups of friends and family travel across the south west in motorhomes on social media.

Everyone is complaining about the gas prices. Nobody I know is changing their behavior because of them.

People in general are well lacking in discipline. Most will bitch and not change anything until they have no other choice. Lot of money got pumped out there in the last two years. Most don't change there spending habits until the credit cards are maxed out and nothing left. Slowly but surely people's budgets are getting eaten up. You can't raise everything and not expect it to have an effect.

 

[Gellar]

People in general are well lacking in discipline. Most will bitch and not change anything until they have no other choice. Lot of money got pumped out there in the last two years. Most don't change there spending habits until the credit cards are maxed out and nothing left. Slowly but surely people's budgets are getting eaten up. You can't raise everything and not expect it to have an effect.

Well they aren’t raisin everything! I’m not getting a 10% raise.

 

[Nick87]

Well they aren’t raisin everything! I’m not getting a 10% raise.

I wish 10% is all it would take.

 

[Gellar]

I wish 10% is all it would take.

O buddy, I know how you feel!