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BBL of oil up $8 since trump took office. (Original Post) safeinOhio Dec 2017 OP
Some idiot drumpf supporter claimed louis-t Dec 2017 #1
gas up almost one dollar since january 2017 nt msongs Dec 2017 #2
Yep. dalton99a Dec 2017 #3
And if you'd picked two dates a month or two apart you'd have oil prices down by as much. Igel Dec 2017 #4
That alone will eat up any tax cut we get nt doc03 Dec 2017 #5
Remember,the Wellstone ruled Dec 2017 #6
Thanks republicans Achilleaze Dec 2017 #7
Yup, Putin's gettin' his money's worth nt Fiendish Thingy Dec 2017 #8
Well duh, oil prices follow economic activity Amishman Dec 2017 #9
Has a lot to do with safeinOhio Dec 2017 #12
And the futures market is heavily based on current consumption Amishman Dec 2017 #15
It ought to be much higher. tritsofme Dec 2017 #10
Some of the rise in price of oil is attributable to an improving global economy. DemocratSinceBirth Dec 2017 #11
We just had 8 years of safeinOhio Dec 2017 #13
This is all on the Saudis Sen. Walter Sobchak Dec 2017 #14
republicans always do this to Americans Achilleaze Dec 2017 #16
oil prices It's great for Russia's economy uponit7771 Dec 2017 #17

louis-t

(23,297 posts)
1. Some idiot drumpf supporter claimed
Fri Dec 29, 2017, 03:34 PM
Dec 2017

"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.

Igel

(35,359 posts)
4. And if you'd picked two dates a month or two apart you'd have oil prices down by as much.
Fri Dec 29, 2017, 04:01 PM
Dec 2017

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.

 

Wellstone ruled

(34,661 posts)
6. Remember,the
Fri Dec 29, 2017, 04:30 PM
Dec 2017

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.

Amishman

(5,559 posts)
9. Well duh, oil prices follow economic activity
Fri Dec 29, 2017, 05:13 PM
Dec 2017

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)
12. Has a lot to do with
Fri Dec 29, 2017, 06:00 PM
Dec 2017

the futures market. Oil price never jump up one day because people drive more that day.

Amishman

(5,559 posts)
15. And the futures market is heavily based on current consumption
Fri Dec 29, 2017, 06:41 PM
Dec 2017

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)

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