General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBBL of oil up $8 since trump took office.
If you follow the $, the winners are Rex Tillerson, Saudi Arabia and Russia.
Not helping the middle class one bit.
louis-t
(23,297 posts)"gas prices are at their lowest in 10 years!1!!1!" while listing his "accomplishments". Gas prices went up 20 cents this month, then another 20 cents.
msongs
(67,453 posts)Igel
(35,359 posts)If you picked Brent Light you'd have one number for the prices between inauguration day and today.
If you picked a heavy oil from Venezuela you'd have a second number.
On 1/20/17 average price according to the Fed was 53.22. On 12/22, 58.47.
The spread for the 'average' was about the same for the last 18 months of Obama as the first 11 months of Trump. There's a slight upward trend in the average, but it's so slight that really depends on the month you start the trend line and what's been going on in the last 4-6 weeks.
Not that Texas minds. Stable oil prices and slightly higher prices mean more money for Texans (those middle- and upper-middle class jobs) and the state coffers (helping education and either infrastructure or social services). I knew a lot of families who were hurting bad when the rest of the country was celebrating.
doc03
(35,382 posts)Wellstone ruled
(34,661 posts)Saudi's bought the largest Refinery in Texas Gulf for processing their own Crude. And in turn,this Plants Feed Stock is being supplied by Koch Brothers Entities via the XL pipeline. Tar Sand,and Heavy Crude blended with Wiliston Basin Crude.
It was the cheap South American Heavy Crude that used to supply this Refinery until mid 2017. Saudi,Koch Brothers and Carl Icahn screwing the US buying public once again.
Achilleaze
(15,543 posts)Fiendish Thingy
(15,658 posts)Amishman
(5,559 posts)The Obama economic recovery is still going strong, so of course oil is up. There is demand because people are going places, buying things, making things
safeinOhio
(32,727 posts)the futures market. Oil price never jump up one day because people drive more that day.
Amishman
(5,559 posts)Which is why the price rises or drops based on the reported rise or fall of storage levels in Cushing. This plus general predictions of future use (based on projected economic activity)
tritsofme
(17,403 posts)DemocratSinceBirth
(99,714 posts)safeinOhio
(32,727 posts)an improving economy.
Sen. Walter Sobchak
(8,692 posts)They didn't want to IPO Aramco at $20 a barrel.
Achilleaze
(15,543 posts)deplorable