Cont: The Biden Presidency Part II

[Stacyhs]

That sounds more like a Tesla music video than an actual interaction. Are you sure you "simply told him", and didn't deliver an educational harangue about the nature of signs?

That sounds more like an implication that Kevbo is lying than an actual question.

 

[kevbo]

That sounds more like a Tesla music video than an actual interaction. Are you sure you "simply told him", and didn't deliver an educational harangue about the nature of signs?

Wow. Can you take anything on face value? Would you like my daughter, who was with me to verify my account? Or are you just being a contrarian?

I simply expressed a personal accounting of how some people see the rise in gas prices without them giving it much critical thought, and you turn it into a question of my honesty. (Grow up.) I replied to him in a calm, measured voice to avoid escalating the situation. Then left.

You on the other hand, I am done with. Just like a said, I leave. Not worth it.

ninja'd by Stacyhs

Thank you, Stacyhs

 

[theprestige]

For me it's how you injected your personal view of yourself into his head. Maybe he singled you out simply because you were there and he was there. Or maybe you saw his hat and wondered what he'd say if he noticed your longhaired hippie self.

 

[Stacyhs]

For me it's how you injected your personal view of yourself into his head. Maybe he singled you out simply because you were there and he was there. Or maybe you saw his hat and wondered what he'd say if he noticed your longhaired hippie self.

 

[bruto]

For me it's how you injected your personal view of yourself into his head. Maybe he singled you out simply because you were there and he was there. Or maybe you saw his hat and wondered what he'd say if he noticed your longhaired hippie self.

Maybe that's what you were thinking when you made your comment, but it's not what you said. Your comment did not address Kevbo's preconception of his questioner, but the veracity of his account.

 

[acbytesla]

While at the gas station yesterday, I had a MAGA hat wearing man holler at me from his truck, "How you likin' that Green New Deal now!" I simply mentioned to him that I think it has more to do with imports and exports. And maybe price gouging by oil companies. Then I paid for my gas, got back in my car and left. No need to have a battle of the wits with the witless.

Why did he single me out? I have long hair and carry a bag, so of course I'm a communist loving, AOC backing, librul. Or something. Even if he is right, what a maroon. What are you going to do, though? I leave. No point engaging with someone who hasn't arrived at an opinion reasonably. Hell, we don't even have a Green New Deal, unless you listen to rightwing media.

Never mind that no aspect of the Green New Deal has been implemented. I knew that fuel prices were going to rise dramatically soon when they bottomed out during the pandemic.

Why? Because the frackers almost all went bankrupt. For the last two years oil companies capped more wells than they drilled. Oil companies even asked for stimulus money to cap wells. They were killed by a glut of surplus oil 2 years ago and they responded by limiting supplies.

Prices went down when supplies were greater than demand and prices rose when supplies meet or exceed demand. This is ECON 101.

Now the right thing to do is dramatically increase supplies. But this isn't what the oil companies want. They were teetering on the edge of bankruptcy two years ago and now it's time for the killing.

I expect that at some point oil fracking and horizontal drilling will eventually look attractive and prices will stabilize and maybe go down. But it will take 6 months to a couple of years. But what really needs to happen is alternative energy sources has to fill the gap. Otherwise, we will forever be at the oil companies' mercy.

 

[kevbo]

Never mind that no aspect of the Green New Deal has been implemented. I knew that fuel prices were going to rise dramatically soon when they bottomed out during the pandemic.

Why? Because the frackers almost all went bankrupt. For the last two years oil companies capped more wells than they drilled. Oil companies even asked for stimulus money to cap wells. They were killed by a glut of surplus oil 2 years ago and they responded by limiting supplies.

Prices went down when supplies were greater than demand and prices rose when supplies meet or exceed demand. This is ECON 101.

Now the right thing to do is dramatically increase supplies. But this isn't what the oil companies want. They were teetering on the edge of bankruptcy two years ago and now it's time for the killing.

I expect that at some point oil fracking and horizontal drilling will eventually look attractive and prices will stabilize and maybe go down. But it will take 6 months to a couple of years. But what really needs to happen is alternative energy sources has to fill the gap. Otherwise, we will forever be at the oil companies' mercy.

I never studied economics, but common sense has told me for decades that gas pricing seems to be treated like the stock market. As in the market when something that happens in the world companies take advantage of it. Whether a financial crises or not, it should not have an immediate affect on the gas that is already in the pipeline and the station tank. The war started less than two weeks ago. the gas in the tank at my local station has been there the whole time. The wholesale price of it did not go up, therefore my price should not be rising at the current levels. When there is a rise in wholesale price, I of course expect to pay more. But the price increase is not based on a legitimate pricing demand, that to me it is just price gouging. An example of just what will the market bear. I agree with most of your assessment that drilling and manufacturing suppliers want to increase their supplies, and so they use the war and political unrest to raise prices now instead of when they see an actual production price increase.

 

[Venom]

While at the gas station yesterday, I had a MAGA hat wearing man holler at me from his truck, "How you likin' that Green New Deal now!" I simply mentioned to him that I think it has more to do with imports and exports. And maybe price gouging by oil companies. Then I paid for my gas, got back in my car and left. No need to have a battle of the wits with the witless.

Why did he single me out? I have long hair and carry a bag, so of course I'm a communist loving, AOC backing, librul. Or something. Even if he is right, what a maroon. What are you going to do, though? I leave. No point engaging with someone who hasn't arrived at an opinion reasonably. Hell, we don't even have a Green New Deal, unless you listen to rightwing media.

 

[acbytesla]

I never studied economics, but common sense has told me for decades that gas pricing seems to be treated like the stock market. As in the market when something that happens in the world companies take advantage of it. Whether a financial crises or not, it should not have an immediate affect on the gas that is already in the pipeline and the station tank. The war started less than two weeks ago. the gas in the tank at my local station has been there the whole time. The wholesale price of it did not go up, therefore my price should not be rising at the current levels. When there is a rise in wholesale price, I of course expect to pay more. But the price increase is not based on a legitimate pricing demand, that to me it is just price gouging. An example of just what will the market bear. I agree with most of your assessment that drilling and manufacturing suppliers want to increase their supplies, and so they use the war and political unrest to raise prices now instead of when they see an actual production price increase.

Price gouging only works if people pay the higher prices. Pricing of anything is based not only on supply and demand but the perception of supply and demand. My degree is in International Relations. Basically worthless to my career. But it included multiple courses in economics.

My career included being a product manager for a software firm where I had to analyze demand and set pricing. I also worked for years as a data communications equipment broker. Everyday I saw how demand or the lack of it affected the market. Perception of demand is just as, actually more important than actual demand.

I'm a big believer in free market capitalism. Everyone is looking for both the best price for themselves regardless if you're a buyer or a seller. Adam Smith states this in The Wealth of Nations in 1776.

But it has its flaws and with certain products and commodities those flaws are very apparent. We are seeing that in spades right now.

 

[kevbo]

Price gouging only works if people pay the higher prices. Pricing of anything is based not only on supply and demand but the perception of supply and demand. My degree is in International Relations. Basically worthless to my career. But it included multiple courses in economics.

My career included being a product manager for a software firm where I had to analyze demand and set pricing. I also worked for years as a data communications equipment broker. Everyday I saw how demand or the lack of it affected the market. Perception of demand is just as, actually more important than actual demand.

I'm a big believer in free market capitalism. Everyone is looking for both the best price for themselves regardless if you're a buyer or a seller. Adam Smith states this in The Wealth of Nations in 1776.

But it has its flaws and with certain products and commodities those flaws are very apparent. We are seeing that in spades right now.

Thank you for the explanation, and your background of experience. I couldn't agree more with the hilited part right now. My wife and I drive an economy midsize vehicle, and I often wonder at the ability of some to pay for a full tank with the large SUV's and Crewcab trucks they drive as these prices continue to rise. But I'm getting off topic now.

 

[gnome]

There is a phenomenon besides gouging, that can account for events causing price increases sooner than they can affect the available supply. It can be a case of futures, where the gas station isn't just considering what they bought the gas for, but how much they'll have to pay to replace it. Similar inflationary expectations were a huge headache during the "Stagflation" era because of the feedback loop it caused. I THINK we've learned the right monetary policy to wriggle out of that trap since then, but given the way expertise is ridiculed these days I wonder if we'll apply it.

Of course, this does not preclude actual gouging.

 

[kevbo]

Something the Biden Administration has been working on.

Quoted from the link:

The Senate passed the Postal Service Reform Act, which will likely be signed into law by President Joe Biden, as the bill addresses the U.S. Postal Service's (USPS) long-term financial challenges and would allow it to continue service six days a week to communities nationwide.

https://www.msn.com/en-us/news/poli...ng-way-for-continued-6-day-service/ar-AAUOrWa

*******************************************

The Biden Administration is still working on getting rid of DeJoy, but that will take a little more effort from the Senate to confirm appointees. And I hope somewhere down the road they are able to revisit the electric vehicle issue.

 

[kevbo]

There is a phenomenon besides gouging, that can account for events causing price increases sooner than they can affect the available supply. It can be a case of futures, where the gas station isn't just considering what they bought the gas for, but how much they'll have to pay to replace it. Similar inflationary expectations were a huge headache during the "Stagflation" era because of the feedback loop it caused. I THINK we've learned the right monetary policy to wriggle out of that trap since then, but given the way expertise is ridiculed these days I wonder if we'll apply it.

Of course, this does not preclude actual gouging.

Makes sense to me. Thanks

 

[acbytesla]

Thank you for the explanation, and your background of experience. I couldn't agree more with the hilited part right now. My wife and I drive an economy midsize vehicle, and I often wonder at the ability of some to pay for a full tank with the large SUV's and Crewcab trucks they drive as these prices continue to rise. But I'm getting off topic now.

No, I think you're right on target. Higher gas prices are part of the ramifications of this war. Your observation regarding large trucks and SUVs demonstrates the flaws of free markets.

As someone who just started to drive in the mid 70s when gas prices skyrocketed from 29 cents a gallon to 50 to 59 cents a gallon almost overnight, I saw how it affected consumers. My father who was driving an Oldsmobile 98 luxury sedan with a gas guzzling 500 cubic engine replaced it with a Volkswagen Rabbit with a diesel engine that got 50 mpg.
This is when foreign car companies really penetrated the American car market. But prices stabilized and Americans again didn't feel that affected and went right to driving gas guzzlers.
It is happening again right before my eyes.

 

[xjx388]

Gas prices, at the level they are now, are not really much of a concern to most people right now. If the price was actually a concern, I’d expect to see people changing their driving habits right about now.

Instead, I see a whole lot of bitching about the prices but not much actual change in behavior. Traffic is the same as it ever was. People are still driving ridiculously gas-guzzling vehicles.

Seriously…has anyone seen less traffic on their local streets? Or is everything pretty much the same as it was a few months ago but with more bitching?

Seems to me that “gas prices,” are more of a talking point against Biden (somehow) than an actual burden on most people I see on the streets.

Let’s be real: my car used to cost around $36 to fill…now it costs around $48. Yeah, that’s an increase, but it’s not a catastrophe, like some people are making it out to be.

What’s funny is that I see the complainers being mostly my conservative friends. What? You can’t handle an extra few bucks at the gas station? I thought you were all self-sufficient and stuff? You own a business, but don’t seem to have developed the skills to roll with changes in supply? Weak.

 

[acbytesla]

Gas prices, at the level they are now, are not really much of a concern to most people right now. If the price was actually a concern, I’d expect to see people changing their driving habits right about now.

Instead, I see a whole lot of bitching about the prices but not much actual change in behavior. Traffic is the same as it ever was. People are still driving ridiculously gas-guzzling vehicles.

Seriously…has anyone seen less traffic on their local streets? Or is everything pretty much the same as it was a few months ago but with more bitching?

Seems to me that “gas prices,” are more of a talking point against Biden (somehow) than an actual burden on most people I see on the streets.

Let’s be real: my car used to cost around $36 to fill…now it costs around $48. Yeah, that’s an increase, but it’s not a catastrophe, like some people are making it out to be.

What’s funny is that I see the complainers being mostly my conservative friends. What? You can’t handle an extra few bucks at the gas station? I thought you were all self-sufficient and stuff? You own a business, but don’t seem to have developed the skills to roll with changes in supply? Weak.

I expect it will have an impact on driving habits. I hope it does as as the only way to stabilize prices is to increase supply or reduce demand.

 

[kevbo]

No, I think you're right on target. Higher gas prices are part of the ramifications of this war. Your observation regarding large trucks and SUVs demonstrates the flaws of free markets.

As someone who just started to drive in the mid 70s when gas prices skyrocketed from 29 cents a gallon to 50 to 59 cents a gallon almost overnight, I saw how it affected consumers. My father who was driving an Oldsmobile 98 luxury sedan with a gas guzzling 500 cubic engine replaced it with a Volkswagen Rabbit with a diesel engine that got 50 mpg.
This is when foreign car companies really penetrated the American car market. But prices stabilized and Americans again didn't feel that affected and went right to driving gas guzzlers.
It is happening again right before my eyes.

Ah, yes. The 70's oil shortage. Prior to the shortage, I remember buying gas for 18 cents a gallon. During the shortage, I purchased my first economy vehicle and have been doing so ever since. I also thought that people would downsize, but alas, some lessons appear to never be learned. Not that I don't enjoy driving a bigger rig when given the opportunity, I am just more concerned with the financial benefits of something smaller.

I also suspected that during the great recession of the 2000's there was another opportunity for America to downsize. But alas.

Now don't get me wrong, I see a need for some large vehicles based on job or need. If someone falls into either category, go for it. But big just for its own sake seems a waste of resources to me. Others' mileage may vary.

 

[kevbo]

I expect it will have an impact on driving habits. I hope it does as as the only way to stabilize prices is to increase supply or reduce demand.

I hope it will have an impact, but I won't hold my breath.

 

[kevbo]

Gas prices, at the level they are now, are not really much of a concern to most people right now. If the price was actually a concern, I’d expect to see people changing their driving habits right about now.

Instead, I see a whole lot of bitching about the prices but not much actual change in behavior. Traffic is the same as it ever was. People are still driving ridiculously gas-guzzling vehicles.

Seriously…has anyone seen less traffic on their local streets? Or is everything pretty much the same as it was a few months ago but with more bitching?

Seems to me that “gas prices,” are more of a talking point against Biden (somehow) than an actual burden on most people I see on the streets.

Let’s be real: my car used to cost around $36 to fill…now it costs around $48. Yeah, that’s an increase, but it’s not a catastrophe, like some people are making it out to be.

What’s funny is that I see the complainers being mostly my conservative friends. What? You can’t handle an extra few bucks at the gas station? I thought you were all self-sufficient and stuff? You own a business, but don’t seem to have developed the skills to roll with changes in supply? Weak.

This is what I've seen so far. But it is still early in the prices rising. Where it stops rising may be more of a behavior changer.

 

[The Great Zaganza]

rising gas prices should put an end to the "privat monster truck" insanity that has been the US car market in recent years.