Thought on Norton rallys and the cost of gas!

Let me give you an analogy.

New Zealand produces approximately 21 billion litres of milk every year. That is approximately 3% of the world milk production or a milk volume equivalent for two and a half serves of dairy per day for 90 million people.

New Zealanders consume 400 million litres of milk each year.

Our dairy cooperative Fonterra now account for 30% of the worlds [export] dairy market, and without an ounce of consideration for the country that has provided it so many concessions, its domestic prices meet its international prices. Rightly or wrongly thats its policy! If they can sell butter for $11/ kg in Indonesia, then that is the price it will be sold in New Zealand.

For the first time in my lifetime, I spent over $100 to fill my pickup's gas 26-gallon tank...


Someone had already left a remark on the pump...

grandpaul said:

For the first time in my lifetime, I spent over $100 to fill my pickup's gas 26-gallon tank...
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Someone had already left a remark on the pump...

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Is that for petrol or diesel?

baz said:

Is that for petrol or diesel?

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Lowest octane petrol.

grandpaul said:

Lowest octane petrol.

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In the UK that would be about $160 for petrol

baz said:

In the UK that would be about $160 for petrol

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$226 in NZ

It's absurd / insane, considering I'm in Texas, one of the largest petro-producing states in the US.

Let's Go Brandon!

Petrol E10 has gone up 2p a day for last three or four days. In fact it went up from this morn to this afternoon!
1.61 sterling per litre. That is down southwest so it will vary in other places but prices of other things (as in almost everything)
will be affected by this too. Bread here is up as an example.

grandpaul said:

It's absurd / insane, considering I'm in Texas, one of the largest petro-producing states in the US.

Let's Go Brandon!

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I am sure the oil companies and the execs on Houston are laughing the way to the bank.

Some of you need to wake up and look beyond borders This is a global issue and not strictly a US policy one related to your "Brandon".

Times is left wing rag (PS i have 30 years experience as award winning newspaper reporter/editor so i know what i am talking about)

Great. Did you read the linked article?

Oh, look, Brent crude pricing correlates directly to Opec oil pricing! Funny that.

I believe that. You only have to look around at just about ANYTHING and it’s more expensive than it was pre covid.

We have short memories sometimes.

It is not very long ago that we simply just SHUT OFF global supply chains. We had fully loaded ships stuck at sea with nowhere to dock. We had ships stuck with decaying goods. We had crews stuck on ships unable to come ashore. Etc. Etc.

When supply chains get shut off like that, workers get fired. Factories close. Crops rot. Mines flood. Equipment decays. Etc. Etc.

Then the world expects to snap their fingers and suddenly ‘switch on’ these supply chains again at will.

It doesn’t f*cking work like that. Frankly it is childlike in its ‘immediate term only‘ thinking.

A first year Supply Chain Management student will tell you that.

It still pisses me off that our global leaders did this and now have the audactiy to act like it was all covid… it was nothing to do with them.

Of course covid was the root cause, but short sighted politicians unwilling to look sensibly at what the unintended consiquences of their actions may be, or even at the blindingly obvious medium term consequences, DEFINITELY have a huge share of the blame for the current shortages and prices rises.

And it was all predicted, very explicitly.

As an aside, my home energy supplier (gas and electric) have just kindly informed me to expect an average rise in my energy bills of 54% next year.....

Happy days all round

The government's don't give a toss what it costs, and the oil companies now see the writing on the wall and make hay while the sun shines.
Not checked, but would not be surprised the price of lithium and other raw resources that make batteries has gone up more than crude.
Putin has done more than the combined efforts of those nations at Cop 26 by invading Ukraine.
For some to worry about the price of petrol / gas when people are losing their lives trying to repel invaders is astounding. With Russia now asking China for military help it could be Russia's biggest mistake, if not then clearly these two will see the US as country that tow the line and bend over and take it up the hoop providing it can get cheap gas. The US clearly still has the cheapest gas on the planet, if they had prices like those in Europe Putin would really worry.

madnorton...well said.

gortnipper said:

Some of you need to wake up and look beyond borders This is a global issue and not strictly a US policy one related to your "Brandon".

Oil Shocks

Here we are again...

steady.substack.com

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What a line of c**p. I watched a short interview with a man in charge of a refinery here in Texas. He says that the "regulators" are reinterpreting the regulations and making it harder to refine the oil. I think that our "elected leaders" gave so much power to regulatory agency's is because they didn't want those regulations to be rightfully blamed on them.

N0rt0nelectr@ said:

What a line of c**p. I watched a short interview with a man in charge of a refinery here in Texas. He says that the "regulators" are reinterpreting the regulations and making it harder to refine the oil. I think that our "elected leaders" gave so much power to regulatory agency's is because they didn't want those regulations to be rightfully blamed on them.

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Oil is a commodity.
Supply down = price up = more profit

Doesn't Texas regulate it's own gas and oil?
Who is in charge of that regulation?