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51
The DUmpster / Re: I worked in the Oil and Gas industry for over 30 years...
« Last post by SVPete on June 16, 2026, 08:21:31 AM »
Quote from: DefiantSix on June 16, 2026, 07:50:05 AM
Actually LPC n00b, the price of gas is based on the wholesale price the station or chain paid for the last tanker load. The wholesaler bases his price on what he's paying the refiner - on contracts usually bought about 3 months ago based on the crude oil price at that time.

 :hi5: ! The oil industry, from wellhead to gas station uses FIFO - First In, First Out - accounting to set prices. That means there is a ripple of delays as the latest tanker - ship or truck - and pumped batch reaches each stage of refining and delivery to retail stations.

What CapnSteve calls "speculation" is actually commodity contracts based on experts' expectations/calculations of production volume and transportation costs (including safety). A source who speculates that they can get $0.10 or $0.20 per barrel more than other sources could find themselves stuck with a whole lot of oil they cannot sell.

Not that facts matter on DU.
52
The DUmpster / Re: I worked in the Oil and Gas industry for over 30 years...
« Last post by Ralph Wiggum on June 16, 2026, 07:59:32 AM »
Quote
CapnSteve (420 posts)

I worked in the Oil and Gas industry for over 30 years...

53
The DUmpster / Re: I worked in the Oil and Gas industry for over 30 years...
« Last post by DefiantSix on June 16, 2026, 07:50:05 AM »
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...The price of a gallon of gas is only based on "what the market will bear."
[/snip]

Actually LPC n00b, the price of gas is based on the wholesale price the station or chain paid for the last tanker load. The wholesaler bases his price on what he's paying the refiner - on contracts usually bought about 3 months ago based on the crude oil price at that time.
54
The DUmpster / I worked in the Oil and Gas industry for over 30 years...
« Last post by CC27 on June 16, 2026, 07:01:52 AM »
Quote
CapnSteve (420 posts)

I worked in the Oil and Gas industry for over 30 years...

...and I was asked many, many times: "when the price of oil falls, why doesn't the price of gas fall as well?"

The answer is surprisingly simple: The price of a barrel of oil is based on speculation - will the future price of oil increase or decrease? It is commodity traders placing bets based on nebulous, often unreliable data. Like the effect of the 39 claims that the Straight of Hormuz with open, OPEC limiting production, or predictions of a harsh winter in Europe, etc.

The price of a gallon of gas is only based on "what the market will bear." Just like any other consumer product, businesses (in this case gas stations) charge as much as they can to maximize profit. They only back off the higher price when it decreases sales. You will see local gas stations compete for customers by lowering their prices a few cents here and there.

Oil companies raised gas prices using the excuse of Trump's war on Iran. Now, "what the market will bear" has been set well over $1.50 per gallon more that before. The price of gas may come down a bit, less than 50 cents a gallon, but the new normal has been set for the market.

https://www.democraticunderground.com/100221307225

Uh huh...
55
The DUmpster / Re: Now I get it. It's still total BS.
« Last post by FlippyDoo on June 15, 2026, 08:02:12 PM »
Quote from: SVPete on June 15, 2026, 01:36:02 PM
IRL, Obama's "deal":

* Allowed Iran to keep its uranium stocks;

* Allowed Iran to keep its enrichment instruments;

* Allowed Iran to keep enriching uranium;

* Sent cash to Iran, usable for further enrichment and/or for shipping weapons and weapons hardware to Hamas and Hezbollah.

Obama's outcome, Iran was within weeks of having enough weapons-grade uranium.

Based on current reports, under the MOU, IF Iran complies:

* Iran loses it uranium;

* Iran gives up enriching uranium;

* Iran gives up claims to control of the Strait of Hormuz.

Whether the government of Iran and IRGC comply is the big question.

Meanwhile, the market price of WTI crude has fallen over $9 in the past 5 days.

I'm probably wrong, but I thought that even the Magic Muslim's people said that in the best case scenario, under 0bumbler's BS deal, Iran would have a weapon within 10 years.
56
The DUmpster / Re: If you gave the bottom 300 million people in this country $3,000 each...?
« Last post by ADsOutburst on June 15, 2026, 07:21:14 PM »
The left is acting like Musk becoming a trillionaire is itself somehow causing harm, despite hundreds of people becoming millionaires in very short order.

The left's perspective is so narrow. They're like the Monarch of Lineland.
57
Breaking News / Re: Worth Knowing, Probably Not Quite Threadworthy 6/15
« Last post by SVPete on June 15, 2026, 07:03:36 PM »
George Conway Is Back, and THIS Time He’s Really, Really Gonna Get Trump

https://pjmedia.com/robert-spencer/2026/06/15/george-conway-is-back-and-this-time-hes-really-really-gonna-get-trump-n4954006

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Remember George Conway? No, not Tim Conway. George Conway. Yeah, both short and pudgy, and both funny, but only Tim was intentionally funny. George Conway, whose sole claim to fame ever since his 2023 divorce from former Trump aide Kellyanne Conway has been his all-consuming hatred of President Donald Trump, now seems to think that Trump-hatred can propel him all the way to the Congress of the United States. Yes, one of the left’s most vicious and irrational Trump-haters wants the voters of New York to send him to Congress. And since they’re voters from New York, they just might do it.

Conway has made no secret of what he will do if he does get to the House. That’s right: Conway’s program from first to last is Get Trump. Fox News reported Monday that Conway “is pledging to pursue President Donald Trump's third impeachment and put him ‘away for good’ if elected to Congress.”

Yeah, the third time will be the charm, eh, George? ...

It’s clear that for the staggeringly corrupt Democrat establishment, impeachment is no longer a tool of last resort to deal with a president who is accused of committing “high crimes and misdemeanors,” as the Constitution puts it, but an everyday tool to try to destroy the man whom they can’t defeat at the ballot box (unless they cheat, of course). If Conway gets his third impeachment and it fails yet again, but the Democrats control the House, they’ll try a fourth time, and a fifth, and on and on and on.

One of Trump's super powers is bringing out the worst from morons.
58
Breaking News / Re: Worth Knowing, Probably Not Quite Threadworthy 6/15
« Last post by SVPete on June 15, 2026, 06:33:42 PM »
Biden DOJ targeted parents at school board meetings despite FBI, sheriffs' objections, memos show

https://justthenews.com/government/federal-agencies/afl

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Former President Joe Biden’s Justice Department used federal law enforcement to target parents at school board meetings as potential threats "despite warnings from FBI officials and the National Sheriffs’ Association," according to America First Legal's analysis of new government documents it obtained.

AFL, a conservative legal nonprofit, said it acquired the documents as part of its ongoing lawsuit related to former Attorney General Merrick Garland’s October 4, 2021 memorandum that targeted concerned parents at school board meetings during the COVID pandemic.

"On October 4, 2021 — the day the memo was released — FBI Deputy Assistant Director Jay Greenberg emailed the Office of the Deputy Attorney General, stating the FBI had 'some concern.' He requested “additional time to engage” before messaging about the infamous memo went out," AFL wrote on X, linking to the DOJ documents it obtained.
...
The National Sheriffs’ Association also shared concerns like those of the FBI, the memos show.

"On October 8, 2021, the National Sheriffs’ Association reached out to officials in the Associate Deputy Attorney General’s Office, stating that its sheriffs had 'not heard any concerns about threats to local school boards' and that 'it would have been nice to have a heads-up,'" the group wrote on X, referencing the internal emails it obtained.

Despite the concerns raised, Garland’s memo was issued on October 4, 2021.
59
Breaking News / Re: Worth Knowing, Probably Not Quite Threadworthy 6/15
« Last post by ADsOutburst on June 15, 2026, 05:03:34 PM »
Quote
Yes, it is "our" house — and we remember exactly the things that she and Bill did to it. Shall we make a list? Can we talk about the intern and the cigar? How about major donors getting to sleep in the Lincoln Bedroom? Then there was the vandalism that the Clinton folks did when they were leaving, including the removal of the "Ws" from keyboards, with George W. Bush taking over, and putting them in weird places, like taped to the top of door frames. It cost thousands of dollars to repair the damage they left. Then there was walking off with some of the furnishings, which they eventually had to return or for which they had to pay.

I had forgotten about the furniture, and hadn't heard of the other things.

I'll remember this the next time Democrats want to bitch and moan about Trump's demolition.
60
Breaking News / Re: Worth Knowing, Probably Not Quite Threadworthy 6/15
« Last post by SVPete on June 15, 2026, 03:28:31 PM »
Hillary Clinton's Tantrum Over the UFC Fight Gets the Proper Backlash It Deserves

https://redstate.com/nick-arama/2026/06/14/hillary-remarks-on-ufc-fight-n2203345

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The Ultimate Fighting Championship (UFC) event at the White House is one of the big events on the schedule of America 250.

My colleague Jennifer Oliver O'Connell gave a little bit of a preview earlier with a great ad put out by the UFC about Teddy Roosevelt and some of the history of fights at the White House.

Of course, as with everything President Donald Trump does, no matter how good or beneficial it might be, Democrats are flipping out over the event.

Then, of all the people to talk, the person who probably should have been the last to do so, weighed in.
...
Quote
Remember, during today's literal cage match on the White House grounds: No matter what, it's not his house.

It's our house.

Get a hat, coaster, or sticker to support groups and candidates who will respect the form AND the function of the people's house.

She's still furious, even ten years later, that it will never be "her" house to live in again.

Yes, it is "our" house — and we remember exactly the things that she and Bill did to it. Shall we make a list? Can we talk about the intern and the cigar? How about major donors getting to sleep in the Lincoln Bedroom? Then there was the vandalism that the Clinton folks did when they were leaving, including the removal of the "Ws" from keyboards, with George W. Bush taking over, and putting them in weird places, like taped to the top of door frames. It cost thousands of dollars to repair the damage they left. Then there was walking off with some of the furnishings, which they eventually had to return or for which they had to pay.

HilLIARy really should have kept her, ummm, pie hole shut.
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