Gas prices are... um well, wait a minute

[Sooner or later]

For a few years my mom worked at the Top Value store in Lawton.

[Bob Kontak]

See #93

https://www.swoknews.com/community_news/so-you-think-you-know-your-lawton-history/article_060c7659-6e75-5eef-8455-70d83d0b641c.html

[fintstone]

I still have my books of these things in the basement. Time to find a dumpster.

[Bob Kontak]

Originally Posted by fintstone

I still have my books of these things in the basement. Time to find a dumpster.

Noooo - Ebay. That sheet I posted the pic of was selling for five dollars.

You could work for just a few short four hour sessions and probably rake in 22 big ones. I'm talking US dollars, Sir.

[Tervuren]

Before I'd even had my driver's liscence for a year Katrina happened.
The national averages weren't quite as high as what some places experienced locally.

It was a bit of a shock to go from using a $20 for gas to needing to break out a second $20.
The switch to card has perhaps dulled my senses on the price of gasoline.

[cockerpunk]

under 4 here.

[fintstone]

Originally Posted by Bob Kontak

Noooo - Ebay. That sheet I posted the pic of was selling for five dollars.

You could work for just a few short four hour sessions and probably rake in 22 big ones. I'm talking US dollars, Sir.

I can see how you could post them for sale...but not sure anyone would buy them. Must be millions out there.

[Sooner or later]

Originally Posted by Bob Kontak

See #93

https://www.swoknews.com/community_news/so-you-think-you-know-your-lawton-history/article_060c7659-6e75-5eef-8455-70d83d0b641c.html

Lol

A lot of those are before me! (1953).

I do remember a bunch of them.

Thanks!

[VINMAN]

Today's bargain prices... Diesel 5.29

[Shaun @ Tru6]

U.S. majors Exxon, Chevron post blowout earnings, ramp up buybacks


Big oil's quarterly profits hit record $50 billion, with BP yet to come


Chevron says 'can do it all', after record profit and buyback lift

[Bob Kontak]

Big oil sucked wind for a lot of quarters over the last decade.

This is just a flash in the pan. Let them have it.

[Shaun @ Tru6]

[Nordwest]

4.16 today at Tacoma Wa.

[Bob Kontak]

Originally Posted by Nordwest

4.16 today at Tacoma Wa.

$3.50 Akron low price. Closer to $4.00 in the swanky part of town. Same brand. Just a different corner.

[fintstone]

It is not too hard to make a profit when government discourages or prevents your competitors from producing more (of a commodity that is necessary to life/civilization). You simply produce the same as always and watch the prices rise (as the world scrambles to find supply).

Reducing areas to drill, making competitor's production less profitable (by killing pipelines), etc... sure reduces competition for integrated companies that have their own supply and already producing oilfields.

It is almost like owning a warehouse full of long hoods while government runs a "cash for cars" program that buys them and sends all average examples of them to the crusher. The supply goes down and the demand rises (except people will die without oil). Pretty soon, you have a pretty valuable "commodity".

[Shaun @ Tru6]

Originally Posted by Bob Kontak

Big oil sucked wind for a lot of quarters over the last decade.

This is just a flash in the pan. Let them have it.

Honestly, I would like to Bob but from what I read, oil price is one of the key drivers of inflation and apparently a solid cross-section of the country is being heavily negatively impacted.

My sense is Big Oil should lean a little more toward Schooner Tuna than, well, Big Oil.

[fintstone]

Just wait a few months when the strategic reserves are all depleted...those that have oil will trade it for gold to people that need to heat their homes. The price of gas will be unbearable (and the price of gas impacts almost everything (though production or transportation) ...including food production. expect those costs to be passed on.

Everywhere except in the alternate universe of Boston where there is no inflation.

[Sooner or later]

Originally Posted by Shaun @ Tru6

Investors haven't done well investing in O&G. I pulled these numbers a few days ago. This is stock price from Jan 2014 through July 2022 and total return over that time period. I wouldn't be very damn happy with this crappy return. Investors have demanded return or they would pull their money, O&G has complied.

S&P 500 1800-3900 116%
Continental Resources 53-65 22%
Exxon 99-90 10% loss
Chevron 124-147 18%
EOG 82-103 25%
Occidental 89-62 30% loss
Pioneer 176-218 24%

S&P Oil and Gas Index

[fintstone]

Exactly. Who would make a long-term investment in a business that the government has said they plan to essentially outlaw...unless there was a significant profit? The higher the risk, the higher the reward must be to attract investors.

[Shaun @ Tru6]

Originally Posted by Sooner or later

Investors haven't done well investing in O&G. I pulled these numbers a few days ago. This is stock price from Jan 2014 through July 2022 and total return over that time period. I wouldn't be very damn happy with this crappy return. Investors have demanded return or they would pull their money, O&G has complied.

S&P 500 1800-3900 116%
Continental Resources 53-65 22%
Exxon 99-90 10% loss
Chevron 124-147 18%
EOG 82-103 25%
Occidental 89-62 30% loss
Pioneer 176-218 24%

S&P Oil and Gas Index

so we should socialize risk and privatize profit?