Oil price predicted to remain above $100 for rest of year

Yup. Nothing has fundamentally changed in the supply chain or world events in the past 9 weeks since hitting $120/barrel, and yet everyone is pretending it's not real.

The magic of the 401k, IRA and 403b, every week, two weeks and month the stock market gets and infusion of capital on auto pilot. This creates and an upward pressure on the market.

It's fine just invest in oil stocks bro and you will cash in. Another persons suffering is another fat dividend check and investment portfolio going up in value unfortunately. For while anyways.

The issue is that the US is comparatively insulated from the crisis, even though they started it. Creating global catastrophes causes capital to flee instability to the relative safe harbour of the US. People want to put money somewhere and a catastrophe makes the US more relatively appealing, not because it got better but because everything else got worse.

The stock market right now is a real life example of a Ponzi scheme that is uninterrupted. Dark pools make up close 45% of actual trading that occurs, if I recall. it isn’t done publicly which means there is no immediate impact on price. Wait until those trades become realized.

I'm convinced it's just AI algorithms that take whatever is hitting on Twitter to make trades.

They go by like this.. the increase from 100 to 150 is 1.5x or some people call it 150% so if you reduce it from 150 to 100 then you -150% decrease. This is literally what is known as lying through statistics (or false presentation of data).

Some say $400 and even $500!

Oil companies have always been f****** everyone over for profit. They didn’t suddenly get extra greedy… they’ve always been greedy. This is a result of supply and demand and a dumbass president who’s messing with the global market

Fucked over for a profit. Again. None of this is new. History repeats itself yet everybody has shocked pikachu face when they’re taking it up the ass from the politicians.

The rest of the world has seen much greater increases on average, Pump price of Petrol and Diesel in US is artificially manipulated LOWER at the moment as you are burning through US reserves and suspiciously feeding the domestic market before exporting for better prices. I used to work at Goldman when they manipulated Aluminum, a move that was equally brilliant and abhorrent, there are quite a few good models for how this will play out. When other developed nations reserves are depleted (around June/July) and they become desperate and willing to pay way more, they have the money to outbid the US domestic market and THEN your pump prices will really skyrocket. Just in time for midterms. And even if Hormuz was completely open tomorrow (no chance) then the supply will not be fixed before the end of the year at the earliest. Soon US public will start to feel the same pain the rest of the world does.

I don't know how Trump managed to do it, but I can fit more gas in my car now! Previously I could fit about 45 dollars of gas, now I can fit 70 dollars of gas. It's a miracle! /s

It's not about regular citizens, it's about companies. Like you said normal people can sort of work around it but companies can't. They'll have to increase prices and/or lay off people. People still expect their next day deliveries and stocked supermarkets after all.

EV infrastructure is a lot less complex than people make it out to be. If you drive less than around 40 miles per day, you can just charge on a normal outlet and be totally fine. Those normal outlets already are everywhere. And if you really need to, just top up at a super charger for road trips.

yea $4.89 here in South jersey. I drive 35 minutes to work and took a big paycut last year to pivot and start work "in my dream scenario". not only do i absolutely hate the move i made to this field but i make $18/hr and its just not even worth the cost in gas to come here. Id rather walk to the target down the street from my house and make $17 an hour lol.

GAS PRICES ARE HIGH! THANKS JIMMY CARTER! yes we deserve this abuse

Can you name/point to these experts? 

I dunno man. 2016, Pokemon Go release. I think humanity was never closer to world peace. Its been downhill from there.

I'm 46 and never. Like everyone I've watch last summer's high become the new year low. Year after year after year..

I think the enshitification started post 2010, but really took a nose dive in 2020.

At least the job market was really good under Biden. The prices keep going up though.

It was at 60

more specifically trump

And that was purposeful in order to put a permanent choke hold on petrol dependence America.

Honestly lol, this is what the rest of my life feels like it’s destined for.

> We've got 2 months to either fix the strait or shed almost two pandemics of oil demand I just don't see the situation getting resolved in two months. Iran is hurting economically but even the most pessimistic (from their POV) estimates generally say they can last at least 3 or 4 more months. Opening it up sooner than that would either require the US to agree to a lot of Iranian demands or alternatively to go back to fighting options and try to force it open militarily.

There's been talk in the oil sector that US tanks might hit bottom by July 4th (ironic). It's a very real possibility that the US faces a fuel shortage that makes the 70s look like a joke. I'm talking empty grocery stores and empty gas pumps all over rural America. I hope it doesn't get to that, but I'm not seeing any action to prevent it.

Not officially - ATH's actually.

Yeah it would have to take government intervention to ease the pain. Remember during the great depression the government put a bunch of people to work. We would need something like that again and this time putting those people to work building renewables and battery infrastructure and building homes and EVs and charging network. The US is too far right wing to do something sane like that though.

The people most affected will disproportionately be the people who voted for the party responsible for it, at least.

This is America, with one of the dumbest voting populations on Earth. We could have $15 a gallon gas, and people could be spending $1000 a week for groceries, and half the country would still vote Republican. Nothing will be learned, I 100% guarantee it. The myth that Republicans are good for the economy will persist, despite Republicans always destroying the economy.

People did not learn from Covid. This will be no different I fear.

> But expensive lessons are the ones most often remembered Easy to say when you're not the one doing the suffering.

Even in the US EV usage has gone up dramatically over the past decade and is in no way negligible. The slowdown from Trump won't delay the transition more than a year or two.

Chevy equinox is 30k new. I don’t know what you’re meaning with reliability. Theres like.. no maintenance. No oil changes. Brakes last 150k miles. Plug it in. Drive it. Change tires and wiper blades. You can get mustang mach Es used for under 20k