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cmilligan1958g
Senior Contributor

Next time, vote Republican.

 

Week of July 5 fuel and energy price update courtesy of the Iowa Department of Agriculture

As of Wednesday, July 7, the price of regular unleaded gasoline averaged $2.97 across Iowa according to AAA. Prices were up 1 cent from last week's price and $.87 higher than one year ago. The national average on Wednesday was $3.14, up 2 cents from last week's price.

8 Replies
sdholloway56
Esteemed Advisor

Re: Next time, vote Republican.

Lol.

Only had to kill half a million people to get gas down a buck.

BTW, shortly before the next to last GQP POTUS left office the price of gas was around $6 on a present value basis.

At the time (when inflation also briefly touched 5%) the boyz at Marketing were whining about stupid folks who were mad that their corn flakes had gone up.

gh2002gh
Senior Contributor

Re: Next time, vote Republican.

Opening up our oil fields killed people?  When?  

 

Shutting down Alaska and federal lands will kill the poor who can't afford to heat their homes.  Always with the projection.  

sam1wiseone
Senior Contributor

election fraud

trumps who you voted for.

KNAPPer
Senior Contributor

Re: Next time, vote Republican, but here's the real reason.

Here’s why: (I know you don't care)

 

  • While crude prices seem high already, the current dynamics in global supply and demand favor them moving higher still. Global demand is recovering so rapidly that the International Energy Agency was forced to revise its pessimistic forecast that crude demand wouldn’t return to pre-pandemic levels until 2023 ahead to the fourth quarter of this year.
  • The deal among the OPEC+ nations this past week to continue the group’s plans to gradually raise its oil exports to keep pace with demand recovery helps to protect against a return of any global glut of supply.
  • The U.S. shale industry continues to amaze many observers - myself included - by exercising a rare level of discipline in its drilling efforts, as both the Enverus and Baker Hughes BHI -1.8% counts of active rigs appear to have peaked in late April and have remained essentially static since then. With the number of active rigs still sitting at a fraction of their pre-pandemic levels, the U.S. industry appears determined to avoid another replay of the drilling frenzies that have led to supply gluts and price collapses in the past.

Source - Forbes.com

rickgthf
Senior Advisor

Re: Rare Discipline, otherwise known as ....

Rare discipline, otherwise known as "collusion"..  The wildcatters have all gone out of business leaving the big guys in complete control.

  The petroleum industry is making my electric car and my biodiesel look better and better.

ACX66895171
Senior Contributor

Re: Next time, vote Republican.

So Craig, if I vote republican, the economic laws of supply and demand will just go away?
Kurt#1
Senior Contributor

Re: Next time, vote Republican.

I like the excuses, or as I hear them blah blah blah blah blah blah blah blah blah blah blah blah.

I am certain global need for food has increased that price too.

What a bunch of malarkey.