Gas Prices higher now but production is up?

[tebowlives]

Nov 2019-Mar 2020
Similar and slightly higher production to Aug 2023

https://ycharts.com/indicators/us_c...~:text=Basic Info,United States in oil fields.

Why are prices so much higher now compared to then?

 

[acptulsa]

The latest excuse is WWIII, presumably just around the corner.

 

[dannno]

Look at the 5 Yr chart.

 

[tebowlives]

Look at the 5 Yr chart.

I did??? That's why I posted what I posted.

Inflation can't be most of that. OPEC setting production lower?

price chart I'm using

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m

[TABLE="class: FloatTitle, width: 675"]
[TR]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2015[/TD]
[TD="class: B3, align: right"]2.208[/TD]
[TD="class: B3, align: right"]2.301[/TD]
[TD="class: B3, align: right"]2.546[/TD]
[TD="class: B3, align: right"]2.555[/TD]
[TD="class: B3, align: right"]2.802[/TD]
[TD="class: B3, align: right"]2.885[/TD]
[TD="class: B3, align: right"]2.880[/TD]
[TD="class: B3, align: right"]2.726[/TD]
[TD="class: B3, align: right"]2.462[/TD]
[TD="class: B3, align: right"]2.387[/TD]
[TD="class: B3, align: right"]2.260[/TD]
[TD="class: B3, align: right"]2.144[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2016[/TD]
[TD="class: B3, align: right"]2.057[/TD]
[TD="class: B3, align: right"]1.872[/TD]
[TD="class: B3, align: right"]2.071[/TD]
[TD="class: B3, align: right"]2.216[/TD]
[TD="class: B3, align: right"]2.371[/TD]
[TD="class: B3, align: right"]2.467[/TD]
[TD="class: B3, align: right"]2.345[/TD]
[TD="class: B3, align: right"]2.284[/TD]
[TD="class: B3, align: right"]2.327[/TD]
[TD="class: B3, align: right"]2.359[/TD]
[TD="class: B3, align: right"]2.295[/TD]
[TD="class: B3, align: right"]2.366[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2017[/TD]
[TD="class: B3, align: right"]2.458[/TD]
[TD="class: B3, align: right"]2.416[/TD]
[TD="class: B3, align: right"]2.437[/TD]
[TD="class: B3, align: right"]2.528[/TD]
[TD="class: B3, align: right"]2.503[/TD]
[TD="class: B3, align: right"]2.460[/TD]
[TD="class: B3, align: right"]2.414[/TD]
[TD="class: B3, align: right"]2.494[/TD]
[TD="class: B3, align: right"]2.761[/TD]
[TD="class: B3, align: right"]2.621[/TD]
[TD="class: B3, align: right"]2.678[/TD]
[TD="class: B3, align: right"]2.594[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2018[/TD]
[TD="class: B3, align: right"]2.671[/TD]
[TD="class: B3, align: right"]2.705[/TD]
[TD="class: B3, align: right"]2.709[/TD]
[TD="class: B3, align: right"]2.873[/TD]
[TD="class: B3, align: right"]2.987[/TD]
[TD="class: B3, align: right"]2.970[/TD]
[TD="class: B3, align: right"]2.928[/TD]
[TD="class: B3, align: right"]2.914[/TD]
[TD="class: B3, align: right"]2.915[/TD]
[TD="class: B3, align: right"]2.943[/TD]
[TD="class: B3, align: right"]2.736[/TD]
[TD="class: B3, align: right"]2.457[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2019[/TD]
[TD="class: B3, align: right"]2.338[/TD]
[TD="class: B3, align: right"]2.393[/TD]
[TD="class: B3, align: right"]2.594[/TD]
[TD="class: B3, align: right"]2.881[/TD]
[TD="class: B3, align: right"]2.946[/TD]
[TD="class: B3, align: right"]2.804[/TD]
[TD="class: B3, align: right"]2.823[/TD]
[TD="class: B3, align: right"]2.707[/TD]
[TD="class: B3, align: right"]2.681[/TD]
[TD="class: B3, align: right"]2.724[/TD]
[TD="class: B3, align: right"]2.693[/TD]
[TD="class: B3, align: right"]2.645[/TD]
[/TR]
[TR]
[TD="colspan: 13"][/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2020[/TD]
[TD="class: B3, align: right"]2.636[/TD]
[TD="class: B3, align: right"]2.533[/TD]
[TD="class: B3, align: right"]2.329[/TD]
[TD="class: B3, align: right"]1.938[/TD]
[TD="class: B3, align: right"]1.961[/TD]
[TD="class: B3, align: right"]2.170[/TD]
[TD="class: B3, align: right"]2.272[/TD]
[TD="class: B3, align: right"]2.272[/TD]
[TD="class: B3, align: right"]2.274[/TD]
[TD="class: B3, align: right"]2.248[/TD]
[TD="class: B3, align: right"]2.200[/TD]
[TD="class: B3, align: right"]2.284[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2021[/TD]
[TD="class: B3, align: right"]2.420[/TD]
[TD="class: B3, align: right"]2.587[/TD]
[TD="class: B3, align: right"]2.898[/TD]
[TD="class: B3, align: right"]2.948[/TD]
[TD="class: B3, align: right"]3.076[/TD]
[TD="class: B3, align: right"]3.157[/TD]
[TD="class: B3, align: right"]3.231[/TD]
[TD="class: B3, align: right"]3.255[/TD]
[TD="class: B3, align: right"]3.272[/TD]
[TD="class: B3, align: right"]3.384[/TD]
[TD="class: B3, align: right"]3.491[/TD]
[TD="class: B3, align: right"]3.406[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2022[/TD]
[TD="class: B3, align: right"]3.413[/TD]
[TD="class: B3, align: right"]3.611[/TD]
[TD="class: B3, align: right"]4.322[/TD]
[TD="class: B3, align: right"]4.213[/TD]
[TD="class: B3, align: right"]4.545[/TD]
[TD="class: B3, align: right"]5.032[/TD]
[TD="class: B3, align: right"]4.668[/TD]
[TD="class: B3, align: right"]4.087[/TD]
[TD="class: B3, align: right"]3.817[/TD]
[TD="class: B3, align: right"]3.935[/TD]
[TD="class: B3, align: right"]3.799[/TD]
[TD="class: B3, align: right"]3.324[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2023[/TD]
[TD="class: B3, align: right"]3.445[/TD]
[TD="class: B3, align: right"]3.501[/TD]
[TD="class: B3, align: right"]3.535[/TD]
[TD="class: B3, align: right"]3.711[/TD]
[TD="class: B3, align: right"]3.666[/TD]
[TD="class: B3, align: right"]3.684[/TD]
[TD="class: B3, align: right"]3.712[/TD]
[TD="class: B3, align: right"]3.954[/TD]
[TD="class: B3, align: right"][/TD]
[TD="class: B3, align: right"][/TD]
[/TR]
[/TABLE]

 

[dannno]

I did??? That's why I posted what I posted.

Inflation can't be most of that. OPEC setting production lower?

price chart I'm using

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m

[TABLE="class: FloatTitle, width: 675"]
[TR]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2015[/TD]
[TD="class: B3, align: right"]2.208[/TD]
[TD="class: B3, align: right"]2.301[/TD]
[TD="class: B3, align: right"]2.546[/TD]
[TD="class: B3, align: right"]2.555[/TD]
[TD="class: B3, align: right"]2.802[/TD]
[TD="class: B3, align: right"]2.885[/TD]
[TD="class: B3, align: right"]2.880[/TD]
[TD="class: B3, align: right"]2.726[/TD]
[TD="class: B3, align: right"]2.462[/TD]
[TD="class: B3, align: right"]2.387[/TD]
[TD="class: B3, align: right"]2.260[/TD]
[TD="class: B3, align: right"]2.144[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2016[/TD]
[TD="class: B3, align: right"]2.057[/TD]
[TD="class: B3, align: right"]1.872[/TD]
[TD="class: B3, align: right"]2.071[/TD]
[TD="class: B3, align: right"]2.216[/TD]
[TD="class: B3, align: right"]2.371[/TD]
[TD="class: B3, align: right"]2.467[/TD]
[TD="class: B3, align: right"]2.345[/TD]
[TD="class: B3, align: right"]2.284[/TD]
[TD="class: B3, align: right"]2.327[/TD]
[TD="class: B3, align: right"]2.359[/TD]
[TD="class: B3, align: right"]2.295[/TD]
[TD="class: B3, align: right"]2.366[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2017[/TD]
[TD="class: B3, align: right"]2.458[/TD]
[TD="class: B3, align: right"]2.416[/TD]
[TD="class: B3, align: right"]2.437[/TD]
[TD="class: B3, align: right"]2.528[/TD]
[TD="class: B3, align: right"]2.503[/TD]
[TD="class: B3, align: right"]2.460[/TD]
[TD="class: B3, align: right"]2.414[/TD]
[TD="class: B3, align: right"]2.494[/TD]
[TD="class: B3, align: right"]2.761[/TD]
[TD="class: B3, align: right"]2.621[/TD]
[TD="class: B3, align: right"]2.678[/TD]
[TD="class: B3, align: right"]2.594[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2018[/TD]
[TD="class: B3, align: right"]2.671[/TD]
[TD="class: B3, align: right"]2.705[/TD]
[TD="class: B3, align: right"]2.709[/TD]
[TD="class: B3, align: right"]2.873[/TD]
[TD="class: B3, align: right"]2.987[/TD]
[TD="class: B3, align: right"]2.970[/TD]
[TD="class: B3, align: right"]2.928[/TD]
[TD="class: B3, align: right"]2.914[/TD]
[TD="class: B3, align: right"]2.915[/TD]
[TD="class: B3, align: right"]2.943[/TD]
[TD="class: B3, align: right"]2.736[/TD]
[TD="class: B3, align: right"]2.457[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2019[/TD]
[TD="class: B3, align: right"]2.338[/TD]
[TD="class: B3, align: right"]2.393[/TD]
[TD="class: B3, align: right"]2.594[/TD]
[TD="class: B3, align: right"]2.881[/TD]
[TD="class: B3, align: right"]2.946[/TD]
[TD="class: B3, align: right"]2.804[/TD]
[TD="class: B3, align: right"]2.823[/TD]
[TD="class: B3, align: right"]2.707[/TD]
[TD="class: B3, align: right"]2.681[/TD]
[TD="class: B3, align: right"]2.724[/TD]
[TD="class: B3, align: right"]2.693[/TD]
[TD="class: B3, align: right"]2.645[/TD]
[/TR]
[TR]
[TD="colspan: 13"][/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2020[/TD]
[TD="class: B3, align: right"]2.636[/TD]
[TD="class: B3, align: right"]2.533[/TD]
[TD="class: B3, align: right"]2.329[/TD]
[TD="class: B3, align: right"]1.938[/TD]
[TD="class: B3, align: right"]1.961[/TD]
[TD="class: B3, align: right"]2.170[/TD]
[TD="class: B3, align: right"]2.272[/TD]
[TD="class: B3, align: right"]2.272[/TD]
[TD="class: B3, align: right"]2.274[/TD]
[TD="class: B3, align: right"]2.248[/TD]
[TD="class: B3, align: right"]2.200[/TD]
[TD="class: B3, align: right"]2.284[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2021[/TD]
[TD="class: B3, align: right"]2.420[/TD]
[TD="class: B3, align: right"]2.587[/TD]
[TD="class: B3, align: right"]2.898[/TD]
[TD="class: B3, align: right"]2.948[/TD]
[TD="class: B3, align: right"]3.076[/TD]
[TD="class: B3, align: right"]3.157[/TD]
[TD="class: B3, align: right"]3.231[/TD]
[TD="class: B3, align: right"]3.255[/TD]
[TD="class: B3, align: right"]3.272[/TD]
[TD="class: B3, align: right"]3.384[/TD]
[TD="class: B3, align: right"]3.491[/TD]
[TD="class: B3, align: right"]3.406[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2022[/TD]
[TD="class: B3, align: right"]3.413[/TD]
[TD="class: B3, align: right"]3.611[/TD]
[TD="class: B3, align: right"]4.322[/TD]
[TD="class: B3, align: right"]4.213[/TD]
[TD="class: B3, align: right"]4.545[/TD]
[TD="class: B3, align: right"]5.032[/TD]
[TD="class: B3, align: right"]4.668[/TD]
[TD="class: B3, align: right"]4.087[/TD]
[TD="class: B3, align: right"]3.817[/TD]
[TD="class: B3, align: right"]3.935[/TD]
[TD="class: B3, align: right"]3.799[/TD]
[TD="class: B3, align: right"]3.324[/TD]
[/TR]
[TR]
[TD="class: B4, bgcolor: #DDDDDD, align: center"] 2023[/TD]
[TD="class: B3, align: right"]3.445[/TD]
[TD="class: B3, align: right"]3.501[/TD]
[TD="class: B3, align: right"]3.535[/TD]
[TD="class: B3, align: right"]3.711[/TD]
[TD="class: B3, align: right"]3.666[/TD]
[TD="class: B3, align: right"]3.684[/TD]
[TD="class: B3, align: right"]3.712[/TD]
[TD="class: B3, align: right"]3.954[/TD]
[TD="class: B3, align: right"][/TD]
[TD="class: B3, align: right"][/TD]
[/TR]
[/TABLE]

I'm sure there are a lot of variables at play including international supply, but the prices now are lower on average than last year. Probably due in part to our increased production. The Biden admin increased production because gas prices were going up and it made them look bad. They difference is they aren't doing it because they care about us, they are doing it because they care about their elections.

Some far left climate activists have been complaining to the Biden admin about the increased production. Regular leftists are defending the Biden admin, claiming that these far left climate activists are probably Trump supporters.. while also claiming that Republicans are responsible for the alleged climate emergency.. at least the far left climate activists complaining are remaining consistent.

 

[dannno]

 

[Occam's Banana]

It's because of "corporate greed". Duh!

[...]

Washington State began its “cap-and-invest” program in January of this year.

Modeled after California’s, Governor Jay Inslee promised the program would have “minimal impact, if any. We are talking about pennies.”

Instead, the program has raised gasoline prices – almost 50 cents per gallon so far this year. Washington State now claims the honor of having the highest gasoline prices in the nation: In Seattle, for example, the average price of regular gasoline is over $5 per gallon.

Of course, the entire point of the program was to raise gasoline and fossil fuel prices to encourage consumers to switch to electric vehicles, mass transit, electric heat pumps, and so forth.

But politics being what it is, Governor Inslee, along with environmentalists and legislative proponents, now blames greedy oil companies for the price increases.

‘We won’t stand for’ corporate greed,” the Governor said at a July 20, 2023, press conference.

[...]

 

[tebowlives]

[FONT=&quot]"UBAI, United Arab Emirates − [/FONT]Saudi Arabia[FONT=&quot] and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices."[/FONT]



https://www.usatoday.com/story/mone...di-arabia-russia-production-cuts/70768020007/