INFLATION--FED announces 0.50% interest rate cut
- Thread starter Chop
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It’s bad and it’s getting worse. Premium gas is over $4 per gallon and regular will likely break the $4 level in Texas within a week. That drives so much other inflation. It may get a lot worse. Transportation costs and fuel surcharges add onto everything. OPEC is holding firm and not increasing production (not much anyway). I like fairly high (but stable) oil prices for the sake of the industry and our State. But these huge spikes and runaway prices aren’t good for much of anyone in the long term.
^I'm with you on that, mb227. I rode with my Exxon stock through some very rough downs, happy that the dividends kept rolling along. Nice to see the stock price recover. Of course, the problem is that my other holdings in the market are not doing as well - but as my Wells Fargo advisor tells me, "It's not a loss unless you sell at a depressed price - ride it out through the recovery and be happy the dividends keep coming in."
That was what I kept reminding mom when the financial manager kept prompting her to unwind much of the XOM position. She is one of the two-dollar share club members, with holdings that date to the late 60's through Dad's ESOP purchases.
As long as the dividends kept coming and she didn't need the money from a sale, it just made no sense to sell off any of the position, not even when it was in the 30's.
This is one of the reasons I try to stay weighted in stocks with a dividend that remains consistent over time.
Good plan, mb227. That's exactly how I approach the investments in my IRA - stocks that generate a bunch of dividend returns, maybe some stock price appreciation, so that I can cover my RMD every year and have the IRA value stay relatively unchanged. I'm a bunch more aggressive in my other investment account - playing for bigger gains long-term.
Duck Dodgers
1,000+ Posts
Oh the Babylon Bee is a natural treasure:
Thankfully the station I fill up at only uses a quarter spread between each grade...so premium is only fifty cents more that the signed price on regular. Too many others in the area are using spreads between 75-90 cents...
It's kinda interesting that a British band would call a song "A Gallon of Gas." They sell gas here by the liter (and never call it 'gas'), and it makes me wonder if they used to sell it by the gallon. The Brits are schizophrenic about the metric system. Gas is sold by the liter, but fuel efficiency is usually measured in miles per imperial gallon. How much sense does that make?
Lease all federal waters in the entire Gulf—all of it—including federal waters off Florida. Permit all major requested pipelines. Cut taxes on E&P profits. We’ll get a lot more domestic oil & gas. Open up more federal lands to e&p.
Texas RRC—let existing wells pump more oil and produce more gas during this crisis.
Texas RRC—let existing wells pump more oil and produce more gas during this crisis.
Duck Dodgers
1,000+ Posts
The Kinks were from the 70's into the early 80's, so that tool of the devil, the metric system, had not yet made the jump across the Channel.
As the headline read "Channel Fogged in, Europe Cut Off"
Seattle Husker
10,000+ Posts
That's production that is years away from reaching the market. We need to find an acceptable plan without completely selling out our children's usage of the planet. Need to look at the millions of acres of leases that are sitting idle. If they've been explored and no oil that's one thing but can't allow oil companies to use a crisis to get more leases if they already aren't using viable sources.
This should put an extra emphasis on Green energy too.
I'm not sure it's the "tool of the devil." Lol. I became at least functional with it in Germany, and it's weird how they've sorta half-assed the metric system in the UK. It has taken time to figure out when to use it and when not. Gas is sold by the liter, but fuel efficiency is MPG. Speed limits and distances are by mile. Soda is sold by the liter, but beer is sold by the pint. Bottled water is sold by the liter, but milk is sold in pints. Produce and meat are usually sold in grams or kilograms. People are weighed by pounds (or more often, stones). Their height can be measured in centimeters or feet/inches. Wind is measured in mph, but precipitation is measured in millimeters.
Not all leases are equal; obviously more o&g under some than others... The federal Gulf waters are a treasure trove of salt dome formations and likely big bonanzas of new o&g. And I keep mentioning Florida waters--that's right, if crybaby weak sister Floridians get their panties in a twist over offshore o&g drilling--that's just too bad... Similarly, geologists really like the looks of what's under the waters in between Santa Monica and Catalina Island and those other islands off shore. Just saying...
Massive new drilling tells the markets that much more oil & gas is on the horizon. That tends to dampen prices (lower prices, or higher prices but not nearly as high as they would have been without the expectations of future oil coming on line).
They were awesome. Sadly, I don't think they'd get a record deal now. Too weird looking.
Duck Dodgers
1,000+ Posts
Same "can't drill our way to price at the pump savings" that N Pelosi babbled about before Trump. Then we produced more oil that we used as a country to the point that we were a net exporter. Then came Depends rule and that was the end of that. And remember - drilling now won't help tomorrow, so don't do it, instead completely re-vamp how American captures energy and uses it for transportation, which will, errr, actually take longer.
Next up - ruining the planet! Which apparently every other country in the world does. The USA is about the only country in the world that doesn't drill for oil and gas everyplace in that country where it might be found. No worries seemingly from Norway about producing oil offshore their country's.
Ahh, the "all those acres of leases are going to waste" line. Since it costs money to obtain a lease to explore on Federal land, why in the world would anyone buy additional leases, often a great cost, if they can produce oil and gas from the leases they already have?
If "green: energy is so wonderful can't it pay for itself, instead of being a way to funnel tax payer dollars into the businesses of donor's to the Democrat party? And ain't nothing green about windmills - they kill so many birds that they need exemptions to Federal rules to avoid being shut down.
Considering it was more than 40 years ago (1979) and they were putting an album out on the heels of mild success in the States...it may actually have been focused on the Carter ****-show.
The Buggles were right...Video Killed the Radio Star.
1) Maybe you missed the fact that even Elon Musk says we need to drill
2) There are not enough EV's on lots now for those who want to pay for those POS things
3) There aren't enough chips to meet demand for vehicles
4) Have you paid attention to where batteries come from?
5) Clearly you have not paid attention to ancillary costs (you know, the electric bills)
6) The people MOST hit by gas prices are the ones LEAST able to afford an EV
7) Plugs are not exactly a staple of apartment and street parking
8) EV range is non-existent for those who actually have to drive
9) Have you noticed how you get heat in a vehicle with ICE? That doesn't exist with an EV. Good luck staying warm.
10) Same thing applies with A/C given the lack of engine driving a compressor. So again, bye-bye range.
11) I guess you ALSO missed where most of the solar panels are being made and also the role that petroleum plays in that process...
I'm sure others will highlight the areas your fabled MSM doesn't clue you in about and that I might have missed here.
Seattle Husker
10,000+ Posts
If you want to talk for me then please at least give me the benefit of a back massage first. If not, I'd welcome you to create a separate thread to build your strawmen arguments. With your colorful language I'm certain you could build the most extravagant strawmen, most likely the best the world has ever seen.
People seem to forget the onerous tax Biden put on his first day
And the onerous regulations he levied.
And all the areas he took out of being pumped.
If he rescends all his stupid moves we could get gas and oil to our markets AND to some of our allies.
How do the idiot morons think we can go "green" with out oil?
So far no one including on here has explained that.
And the onerous regulations he levied.
And all the areas he took out of being pumped.
If he rescends all his stupid moves we could get gas and oil to our markets AND to some of our allies.
How do the idiot morons think we can go "green" with out oil?
So far no one including on here has explained that.
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