Current Events > Nationwide average gas prices hit $5 a gallon for first time ever, AAA says

(+) Yeah! (+)

https://twitter.com/nbcnews/status/1535613354009677826?s=21&t=V9FoOqQstPOSw8vromdSTg

Biden stop this! turn the dial that controls the gas prices back down!

why is he doing this to us!??!!

Now's a good time to buy an EV.

metallica846 posted...

We need a scientist to invent laboratory made gasoline.

Thats how we solve the energy crisis.

He/she would be assassinated within a week

I just fart on my wallet I have gas money

Biden's America.

Sucks butt

King Biden needs to get the planet working again.

Tyranthraxus posted...

Now's a good time to buy an EV.

Would take a while to break even on it

Trumpo posted...

Would take a while to break even on it

Price is dropping all the time. Meanwhile gas pretty much only goes up long term.
https://www.nwaonline.com/news/2022/jun/11/gm-cuts-cost-of-electric-vehicles-by-6000/

[LFAQs-redacted-quote]

https://gamefaqs.gamespot.com/a/user_image/8/4/9/AAXc3pAADR7J.jpg

Thanks, Biden

Thanks Obama.

VitalGetPrank posted...

https://gamefaqs.gamespot.com/a/user_image/8/4/9/AAXc3pAADR7J.jpg

Free market. Businesses shouldn't be forced to price their goods lower by the government

Hell yes

Public trans and walking still the same price though!

Tyranthraxus posted...

Now's a good time to buy an EV.

Just gotta hop on that 2 year wait list to buy that 150,000 dollar truck.

I bet all the low income people that get hit by gas prices the hardest are already long at wait.

[LFAQs-redacted-quote]

Prove it.

[LFAQs-redacted-quote]

Is this a picture for ants?

Middle hope posted...

Is this a picture for ants?

dude you said something stupid and were proven wrong, you're just embarrassing yourself rn

Doom_Art posted...

dude you said something stupid and were proven wrong, you're just embarrassing yourself rn

you didnt even look at it did you?

Middle hope posted...

you didnt even look at it did you?

did you?

Doom_Art posted...

dude you said something stupid and were proven wrong, you're just embarrassing yourself rn

That other user is right though. That is a chart where you cant read the numbers.

Doom_Art posted...

dude you said something stupid and were proven wrong, you're just embarrassing yourself rn

No, he's right about the pic, it's completely unreadable.

[LFAQs-redacted-quote]

Wow there sure are a lot of models listed for a good price! People have no excuse to switch at this point.

Why arent more people making the switch?

Doom_Art posted...

did you?

Yeah, thats how i know you didnt lol.

Middle hope posted...

Wow there sure are a lot of models listed for a good price! People have no excuse to switch at this point.

Why arent more people making the switch?

people are addicted to gas guzzlers and are bad with money

Middle hope posted...

Wow there sure are a lot of models listed for a good price! People have no excuse to switch at this point.

Why arent more people making the switch?

Most people in the market for a car need one "now" so they can't join a wait list and many don't have level 2 chargers on top of that.

It's not hard, just takes time.

Also used cars are stupidly cheap compared to EVs.

The top response on the Reddit thread on this seems to have answered it.

Oil prices are high for multiple reasons:

1. Investors got burned from 2014-2020 because of shale oil. Many small time oil companies were bankrupt from this time period. They don't want a repeat of that. The Saudi's intentionally flooded the market with cheap oil from this same period because they wanted to weed out the other oil producers who couldn't survive with the smaller margins. Only the big players could survive. If you check the stock performance of oil companies from 2014, you were basically losing money while the rest of the stock market climbed significantly.
2. Refining capacitiy is down because the ROI isn't there to justify building a new one when renewables are becoming a higher point of focus.
3. The U.S. government is disincentivizing the drilling of new oil fields. Regulations are incredibly high. At the end of the day, oil companies operate the same as a regular mom-and-pop business: "Does it make financial sense?" The answer right now is no. You might remember the Keystone Pipeline XL being shut down. Well, it was initially approved so work was started. After spending a projected total of $15 billion, TC Energy then had their permit revoked by Biden. Ask yourself: Why would anyone want to take that risk? Yes, it might be allowed now. But just as easily, it can be shut down. That uncertainty is at a level where it becomes unappealing.
4. The war decreases the amount of available oil supply because of sanctions imposed. This means you have more countries bidding on the same supply of oil driving the prices up higher.
5. OPEC has ZERO incentive to increase the supply and lower the prices. Saudi Arabia, for instance, knows that oil is finite and that their cash cow won't be around in say, 20 years. They have been divesting away from oil quickly in preparation of this. That is why you are seeing Saudi Arabia spend billions of $ in other areas to ramp up their economy.

Is it Biden's fault? The serious answer is no but the long answer is his initiatives are making is increasingly difficult for oil companies to want to increase production and refining capacity. When you want to go green, there is a transition that will happen. This is that transition period where you are going to see high oil prices for the foreseeable future in the hopes that it will pay off in the long run when renewables are the dominant player and EV's become the norm. Unfortunately, the mistake here is NOT focusing enough on electricization and nuclear energy.

Well there's about 4.5 liters in a gallon.

It's 1.90 a liter here in UK. So it's 8.55 a gallon. That's 10.55 USD.

It's twice as shit here in UK.

Ironically, last week was the first time I bought a full tank in ages. I figured it would go up, but it increased from 4.90 to 5:20 damn near overnight.

Cobra1010 posted...

Well there's about 4.5 liters in a gallon.

It's 1.90 a liter here in UK. So it's 8.55 a gallon. That's 10.55 USD.

It's twice as shit here in UK.

People in the UK also drive less (almost 50% less iirc) and also don't drive as many huge ass SUVs and trucks that use more gas. So I wouldn't be surprised if Americans on average still spend the same or more on gas, lol.

.

midterms are gonna be so fucking bad

Laws need to be passed to somehow hold big oil accountable and stop price gouging so much

Middle hope posted...

Wow there sure are a lot of models listed for a good price! People have no excuse to switch at this point.

Why arent more people making the switch?

I'd make the switch instantly if the charging infrastructure was better. Or, in some places, EXISTENT.

Middle hope posted...

Wow there sure are a lot of models listed for a good price! People have no excuse to switch at this point.

Why arent more people making the switch?

This is why we still have a Senate. Half of the US is spread out across rural areas with no infrastructure for EV. Id have to travel 30-45 minutes in either direction to find one in Louisiana. Its better for me to keep my gas car.

scorpion41 posted...

Its better for me to keep my gas car.

Enjoy getting gouged at the pump then :)