Discussion in 'The Thunderdome' started by golfballs03, Oct 28, 2011.
I dare say even pewf.
also dropped in the 80s during hyper inflation.
It's a great episode to watch given the here and now.
I didn't know there was a term for it, but it makes complete sense that after 2 years of supply chain crunch at some point the adjustments would overcorrect.
I see it with two very different things: meat and video graphics cards. The cards make sense because crypto is not what it was, but I think the meat is overcorrection. In a time of high inflation, I paid less than 5 bucks for a lb of lean ground beef. Lowest I have seen it in more than 10 years. Chicken is cheap too, even though there was just a shortage 6 months ago.
Crude oil is slightly lower than 2014 prices yet gas continues to rise at well over a dollar above prices then. Both times, crude supply/cost was blamed.
I think the oil companies are gouging.
And my mother is adamant that if the keystone pipeline was opened, we would be OK, and blames Biden for all of this. I honestly don't think it is an oil supply issue, and never has been, except at the start of the Ukraine-Russian war. And even then, that was just fear of a shortage.
Pipeline would do nothing for this. It wouldn't be done yet, and the oil would be going overseas. Let Canada move its own oil.
The push to go green and off fossil fuels aren't helping and every time Biden or his administration start talking about electric cars or shuts down pipelines it drives the cost of fuel up.
Yeah, they're probably price gouging but the administration's policies and complete lack of PR doesn't help either.
It's not all Biden, but he's not helping either
If you're investing money in oil and the US shuts down a major pipeline, are you still going to invest? No.
That effects gas prices
How does investing lower gas prices?
Gas prices lag crude since refineries lock them in to protect themselves. Historically rising gas prices doesn’t mean the refineries get rich. Last time this happened a bunch almost went bankrupt. What they want is consistent prices, not changing ones.
theres no question more pipelines would lower the gas price. How much is hard to say but the oil price is elastic and a small increase or decrease in supply makes a big difference. See Ukraine
the anticipation of higher supply lowers prices and of course pipelines lower gas prices. Lower transportation costs and higher supply absolutely lower prices. See what happened under Obama and trump
yup when your solution to a quick run up in gas prices is something that at best will take a decade to show an effect, no one takes what you have to say seriously
For years we were told we needed fossils fuels to be too expensive for people to continue to use. Now we have that and those same people are now complaining that fossil fuels are too expensive. I don't get it. You're getting the very thing you wanted, maybe not exactly how you wanted to have it, but the end result is the same.
I don't think people will make the change until one becomes more expensive than the other.
Our memory is day to day. Most don't remember the jump to $2-3 in 2008. Which was well over a decade ago. And no changes or habits were made.
this is why the gas tax holiday makes no sense. The only thing that decreases usage is higher prices
i agree. For people to make changes it needs to really make an impact on their lifestyle. For the average person $2-$3 isn’t going to do that
Did crypto contribute to inflation?
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