Price Of Oil?

[vc commodore]

Haven't read the whole thread but oil/petrol prices took off long before the ruskies invaded Ukraine. It started with energy independant USA under Trump. Biden got in and started shutting pipelines to appease the greenies. Then went oh we need oil and rang the arabs who have been rubbing their hands together ever since. Demand from them shot up and so did the price based on no increase in production. It seems that arab oil is way more green than US oil.

At the start and middle of this pandemic, fuel prices were around the low $1.00 p/l.....And this was the time frame Trump was in power and then Biden took over....

 

[Nitro_X]

Said on the radio tonight expect more price hikes yet. I wouldn't be surprised if 98 gets close to $3L. Time to stock up on yeast and sugar and borrow my neighbours still, or buy one myself.....

If the Aussie $ weakens against the Greenback, this will further increase prices for all of our imports, including fuel.

Go electric !
An entrepreneur businessman wanted to build an electric car factory in Australia (either NSW or Vic, can't remember)
Neither State or Federal leaders appeared to show any serious interest or support, so it was canned.

Lets just keep flipping houses to each other for ever higher prices....

 

[Nitro_X]

Bugger that....Do some youtube searching and find out how they made cars run on cooking oil....It was about 10 years ago they did it....At least we can then charge people for the sweet odour it emits to help cover the cost of our oil....

Back in '08, my TAFE teacher set up a filter system at his home for used cooking oil to run his Toyota van.
We always knew when he was leaving work because his car exhaust literally smelt like a fish n chip shop

He and his partner drove the van from east to west coast thru the middle of Oz, they would re-fuel on free cooking oil along the way and show people how to do it.

 

[losh1971]

I knew a bloke 25 years ago who used to run it. Issue is I believe the engine needs to be a diesel. Whereas we can run our V8s on methanol with a few mods.....
I'm just not sure how to produce 100% pure alcohol. My neighbours still gets it to about 90% but I doubt this is pure enough.

 

[Immortality]

At the start and middle of this pandemic, fuel prices were around the low $1.00 p/l.....And this was the time frame Trump was in power and then Biden took over....

Kinda showing a little ignorance there. Change of old farts in the big white house had little to do with it. When Biden took over we were in the middle of a pandemic and demand for oil dropped to almost nothing. As the world started to come out of the pandemic and demand increased OPEC kept supply low to drive up prices. That coupled with supply issues are the biggest drivers of oil prices until some little idiot in Russia decided to invade Ukraine which seems to have added at least US$15 to a barrel of oil in the last week.

US oil is,relatively expensive to produce which makes it susceptible to boom and bust cycles depending on the international oil prices.

You give Biden to much credit for been able to manipulate oil prices.

 

[hademall]

If the Aussie $ weakens against the Greenback, this will further increase prices for all of our imports, including fuel.

Go electric !
An entrepreneur businessman wanted to build an electric car factory in Australia (either NSW or Vic, can't remember)
Neither State or Federal leaders appeared to show any serious interest or support, so it was canned.

Lets just keep flipping houses to each other for ever higher prices....

Yep.

 

[vc commodore]

Kinda showing a little ignorance there. Change of old farts in the big white house had little to do with it. When Biden took over we were in the middle of a pandemic and demand for oil dropped to almost nothing. As the world started to come out of the pandemic and demand increased OPEC kept supply low to drive up prices. That coupled with supply issues are the biggest drivers of oil prices until some little idiot in Russia decided to invade Ukraine which seems to have added at least US$15 to a barrel of oil in the last week.

US oil is,relatively expensive to produce which makes it susceptible to boom and bust cycles depending on the international oil prices.

You give Biden to much credit for been able to manipulate oil prices.

Redtaxi was insinuating Trump and Biden were behind the fuel pries going up.....I'm saying when Trump was in and later on Biden, the fuel prices were in the low $1.00 p/l range....This was the time frame the pandemic actually hit.....So they had nothing to do with the fuel prices starting on the upward trend.....If anything, when these 2 were in and started in, the fuel prices were at their lowest in years.

And yeah, I am aware this war is behind the fuel prices going nuts.....Since it started, I have noticed the prices have jumped around 30c to 40 c p/l......So no ignorance on my behalf....

 

[hademall]

I tried watching it a couple of times with the grandkids and the only education I got was WTF are they on...

You need to watch it on your own, grandkids are a distraction and sometimes cleverer than you think

 

[Skydrol]

I watch them once in a while. The one that I like is Family Guy, I find funnier thier comedy style.

 

[Sabbath']

some little idiot in Russia decided to invade Ukraine which seems to have added at least US$15 to a barrel of oil in the last week.

Price has been steadily climbing since December 2021.

https://www.macrotrends.net/2516/wti-crude-oil-prices-10-year-daily-chart