CNN fan are you? It's been great watching push this trash out once you got your feelings hurt.
hmm. I don't recall any posters here saying gas prices would go to $7 or $8. I do recall one poster saying they would fall below $1.99. still waiting for that...And as a reminder, oil prices falling will not result in an instantaneous drop of gas prices at the pump. They'll drop some, but our reserve is at the lowest level that it's been since the '80's. Prices at the pump will not drop to pre-war levels until that reserve is refilled.
The strait being closed has reduced worldwide oil creation by 15 to 20% for 3.5 months, but our oil consumption has not been reduced by 20% during that time period, so we've been burning through our reserve. In order to refill the reserve, 5 to 10% of the oil we import or produce will have to be dedicated to refilling it. It's still a supply and demand issue and the SPR reserve is kinda like a bank. There are companies / countries that are scheduled to take "loans" out from our reserve that are still ongoing and will continue through the next 6 months. So the drain on the reserve is not going to stop immediately starting the day after the peace deal is signed. It also takes a month for the tankers to get from the strait to here. The SPR will still be operating at a -15% level for another month minimum.
That's why Trump has to get a deal done NOW. If he had waited another month, things were starting to look ugly in late July. We would not have "run out of oil", but we would have been forced to start reducing our consumption by 10% to 20%. The only way to force people to do that would have been to increase the gas prices to $7 / $8+ (Suddenly carpooling would be back in fashion).
So yeah, the 300 billion payed to Iran is embarrassing to this admin, but Iran had us over a barrel here (rimshot!). They knew that if they waited this out, they would get a better deal, and they were right.
Gas wasn't going to 7 or 8. Per usual, the doomers were wrong.
Gas wasn't going to 7 or 8. Per usual, the doomers were wrong.
If the status quo had been maintained for another month (strait closed, blockade, trading missile fire, etc.), then the SPR would have reached critically low levels in late July. Then absolutely yes, we would have started seeing gas prices jump that high.
Several high-up oil execs were starting to sound the alarm. I can provide you some sources if you'd like.
As I said, Trump has to get a deal done ASAP to avoid this. I'm genuinely hopeful that this deal is signed to avoid this. Sure, the democrats are going to paint this as a massive loss for Trump (and don't get me wrong, it's not great), but the alternative is worse.
I am also worried about Israel screwing this up. There are still several ways this could go bad and the strait closes right up again and we are right back where we started.
Why have we not seen an official copy of the deal? We've seen and heard leaks on the US side and the President claiming that it's great. We've seen leaks from Iran which says it's great for them - and what they're saying is most definitely not great for us. I don't know why we haven't seen an official copy of the deal the President claims is done and is great. This is from Saudi Arabia's news service, and I wouldn't vouch that it's 100 percent accurate but at least it purports to describe the deal. Until we see the official version it seems about the only thing out there which claims to be complete and authentic draft of the deal (it's not great for the US - it's horrible). I hope it's inaccurate.
Al Arabiya English obtains 14-point draft of US-Iran Memorandum of Understanding
The President now says it's not done. I'd like to believe him if the above is really the draft. This is from the G7 and not only about war with Iran.
Live updates: Trump, G7 leaders praise Iran deal and agree to step up pressure on Russia
hmm. I don't recall any posters here saying gas prices would go to $7 or $8. I do recall one poster saying they would fall below $1.99. still waiting for that...And as a reminder, oil prices falling will not result in an instantaneous drop of gas prices at the pump. They'll drop some, but our reserve is at the lowest level that it's been since the '80's. Prices at the pump will not drop to pre-war levels until that reserve is refilled.
The strait being closed has reduced worldwide oil creation by 15 to 20% for 3.5 months, but our oil consumption has not been reduced by 20% during that time period, so we've been burning through our reserve. In order to refill the reserve, 5 to 10% of the oil we import or produce will have to be dedicated to refilling it. It's still a supply and demand issue and the SPR reserve is kinda like a bank. There are companies / countries that are scheduled to take "loans" out from our reserve that are still ongoing and will continue through the next 6 months. So the drain on the reserve is not going to stop immediately starting the day after the peace deal is signed. It also takes a month for the tankers to get from the strait to here. The SPR will still be operating at a -15% level for another month minimum.
That's why Trump has to get a deal done NOW. If he had waited another month, things were starting to look ugly in late July. We would not have "run out of oil", but we would have been forced to start reducing our consumption by 10% to 20%. The only way to force people to do that would have been to increase the gas prices to $7 / $8+ (Suddenly carpooling would be back in fashion).
So yeah, the 300 billion payed to Iran is embarrassing to this admin, but Iran had us over a barrel here (rimshot!). They knew that if they waited this out, they would get a better deal, and they were right.
Gas wasn't going to 7 or 8. Per usual, the doomers were wrong.
You don't recall a lot of things. You said prices of gases wouldn't fall below 3. They did. I paid 2.19 for a gallon of gas prior to the war. Pretty damn close. By the way if the strait does fully open there is going to be an oil glut and 1.99 will be back on the table.
Gas wasn't going to 7 or 8. Per usual, the doomers were wrong.
If the status quo had been maintained for another month (strait closed, blockade, trading missile fire, etc.), then the SPR would have reached critically low levels in late July. Then absolutely yes, we would have started seeing gas prices jump that high.
Several high-up oil execs were starting to sound the alarm. I can provide you some sources if you'd like.
As I said, Trump has to get a deal done ASAP to avoid this. I'm genuinely hopeful that this deal is signed to avoid this. Sure, the democrats are going to paint this as a massive loss for Trump (and don't get me wrong, it's not great), but the alternative is worse.
I am also worried about Israel screwing this up. There are still several ways this could go bad and the strait closes right up again and we are right back where we started.
lol...it was going to happen next month? Imagine that. By the way they said it going to happen in March. And when that was wrong they said April. And when that was wrong then May. And when they wrong then June. And now it's going to happen on July 🙄
No one is more wrong about gas prices than Snarl. 😂hmm. I don't recall any posters here saying gas prices would go to $7 or $8. I do recall one poster saying they would fall below $1.99. still waiting for that...And as a reminder, oil prices falling will not result in an instantaneous drop of gas prices at the pump. They'll drop some, but our reserve is at the lowest level that it's been since the '80's. Prices at the pump will not drop to pre-war levels until that reserve is refilled.
The strait being closed has reduced worldwide oil creation by 15 to 20% for 3.5 months, but our oil consumption has not been reduced by 20% during that time period, so we've been burning through our reserve. In order to refill the reserve, 5 to 10% of the oil we import or produce will have to be dedicated to refilling it. It's still a supply and demand issue and the SPR reserve is kinda like a bank. There are companies / countries that are scheduled to take "loans" out from our reserve that are still ongoing and will continue through the next 6 months. So the drain on the reserve is not going to stop immediately starting the day after the peace deal is signed. It also takes a month for the tankers to get from the strait to here. The SPR will still be operating at a -15% level for another month minimum.
That's why Trump has to get a deal done NOW. If he had waited another month, things were starting to look ugly in late July. We would not have "run out of oil", but we would have been forced to start reducing our consumption by 10% to 20%. The only way to force people to do that would have been to increase the gas prices to $7 / $8+ (Suddenly carpooling would be back in fashion).
So yeah, the 300 billion payed to Iran is embarrassing to this admin, but Iran had us over a barrel here (rimshot!). They knew that if they waited this out, they would get a better deal, and they were right.
Gas wasn't going to 7 or 8. Per usual, the doomers were wrong.
You don't recall a lot of things. You said prices of gases wouldn't fall below 3. They did. I paid 2.19 for a gallon of gas prior to the war. Pretty damn close. By the way if the strait does fully open there is going to be an oil glut and 1.99 will be back on the table.
lol...it was going to happen next month? Imagine that. By the way they said it going to happen in March. And when that was wrong they said April. And when that was wrong then May. And when they wrong then June. And now it's going to happen on July 🙄
1) I never said it in March / April.
2) it's one thing for the influencers to be spouting off crap like that. It's another for the CEO of Exxon to say it.
Gas wasn't going to 7 or 8. Per usual, the doomers were wrong.
If the status quo had been maintained for another month (strait closed, blockade, trading missile fire, etc.), then the SPR would have reached critically low levels in late July. Then absolutely yes, we would have started seeing gas prices jump that high.
Several high-up oil execs were starting to sound the alarm. I can provide you some sources if you'd like.
As I said, Trump has to get a deal done ASAP to avoid this. I'm genuinely hopeful that this deal is signed to avoid this. Sure, the democrats are going to paint this as a massive loss for Trump (and don't get me wrong, it's not great), but the alternative is worse.
I am also worried about Israel screwing this up. There are still several ways this could go bad and the strait closes right up again and we are right back where we started.
lol...it was going to happen next month? Imagine that. By the way they said it going to happen in March. And when that was wrong they said April. And when that was wrong then May. And when they wrong then June. And now it's going to happen on July 🙄
are we talking about when covid was going to end back in 2020 or when trump said the war was going to end?
lol...it was going to happen next month? Imagine that. By the way they said it going to happen in March. And when that was wrong they said April. And when that was wrong then May. And when they wrong then June. And now it's going to happen on July 🙄
1) I never said it in March / April.
2) it's one thing for the influencers to be spouting off crap like that. It's another for the CEO of Exxon to say it.
if he makes up bs claims though, then he can pretend like he was right
lol...it was going to happen next month? Imagine that. By the way they said it going to happen in March. And when that was wrong they said April. And when that was wrong then May. And when they wrong then June. And now it's going to happen on July 🙄
1) I never said it in March / April.
2) it's one thing for the influencers to be spouting off crap like that. It's another for the CEO of Exxon to say it.
I know you didn't. I'm referring to all the expert predictions you base your outlook on. The price of oil has been essentially been up 50-70% for most of the war. That's still a large increase, just not the 200+% increase some people predicted. Is there ever a point where you start to question their predictions and conclude they were off?
When Trump's loses the NEW YORK POST, he's lost BIGLY.
Owned by neocon and Israel first oligarch Rupert Merdoch. We never should've gone in but this is the best deal we could get.
It's been released. Think it's good or the best we could get? Is the situation better than before the way?When Trump's loses the NEW YORK POST, he's lost BIGLY.
Owned by neocon and Israel first oligarch Rupert Merdoch. We never should've gone in but this is the best deal we could get.
US releases official agreement with Iran. Read the 14-point text | CNN
No worries though, the President has joked he'll blame Vance if people think it's not good or even if the bad deal doesn't work out. I doubt he was really joking.
Trump jokes about blaming VP Vance if Iran deal fails
It's been released. Think it's good or the best we could get? Is the situation better than before the way?When Trump's loses the NEW YORK POST, he's lost BIGLY.
Owned by neocon and Israel first oligarch Rupert Merdoch. We never should've gone in but this is the best deal we could get.
US releases official agreement with Iran. Read the 14-point text | CNN
No worries though, the President has joked he'll blame Vance if people think it's not good or even if the bad deal doesn't work out. I doubt he was really joking.
Trump jokes about blaming VP Vance if Iran deal fails
It is all the worst parts of what has been leaked. Donald Trump is a f*cking p*ssy, a sh*tty negotiator, and a chump. The Lebanon stuff alone will derail this deal at the time of Iran's choosing and they now have the ability to secure hundreds of billions in funds, the ability to secure more through modern barbary piratism where they charge a extortion fee for passage, and they give up nothing. The world is a more dangerous place since the administration initiated this ill conceived war and then didn't have the backbone to follow through to even the semblance of some sort of win.
If this is JD Vance's idea of statesmanship, he has no business being near the Presidency either. What a disgrace. I hope whatever is left of the GOP in Congress gets a spine with this guy and reins him in. It is clear he has a spine made of jelly, get him under control so he can't do any further damage. I want to know who the f*ck advised him this was a good idea and what the f*ck they told him that would lead to such an ignominious defeat.
There is no defense of this. Zero. Bunch of incompetent tw*ts in this administration playing government. They lived up to the appearance of being a bunch of back benchers. Got good people killed for nothing.