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Biden set the stage for an excuse to shift blame for the recent gas price increase
MikeDamone
Member Posts: 37,781
Prices have been going up for a couple of weeks. The “prices have fallen for 90 days” narrative is dead. Biden gave the oil companies a stern warning today that they better not “gouge” Americans because of the hurricane. Prices will continue to go up as they have been. Biden then tries to ride the “oil companies gouging because the hurricane” excuse all the way to the midterms. Cook it.
Comments
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So the Putin price hike is officially dead?
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Not enough whisper voice IMOCuntWaffle said: -
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
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Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
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Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan. -
The old narrative is locked up at Gitmo. The new narrative is a clone.
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Gas stations generally price their gas according to what they think the next shipment is going to be priced at, not what the last shipment received was.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan. -
Tell me you don't understand how commodities are prices with out telling me you don't understand how commodities are priced.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
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Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter. -
Correct, they are operating according to cash flows and not p&l. As they should. These guys aren't carrying around piles of liquid cash, it's all tied up in inventory.WestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter. -
Dont forget 10 percent for the big guyWestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter. -
The first 10 percent for the big guy is implied.Pitchfork51 said:
Dont forget 10 percent for the big guyWestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter.
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Does he get the 10% off the consumer price or the 10% off at every supply chain stage like a VAT tax? Or both?PurpleThrobber said:
The first 10 percent for the big guy is implied.Pitchfork51 said:
Dont forget 10 percent for the big guyWestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter. -
Hurtful.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
If you're a Duck dropout. -
Could you send this to the Simpleton in the WH.WestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter.
Do it now.
Do it now. -
It's just not the dementia patient. It is every dem, every one that votes for a dem, and almost every teacher and most of the PMS housewives.46XiJCAB said:
Could you send this to the Simpleton in the WH.WestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter.
Do it now.
Do it now. -
It does when perceived demand increasesBleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan. -
DerekJohnson said:
It does whenBleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.perceived demand increasesactual supply is threatened -
@WestlinnDuck gets it. @BleachedAnusDawg, not so much.WestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter. -
Good info. Is this because the gas and oil markets are much more volatile? I've been around other consumer products and pricing is determined by what they pay to get the product built or on the shelf. In the case of gas, I have actively noticed that prices always drop slower than they rise even if the correlating change in oil prices occur at the same rate.WestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter.
I'm not paying attention to what's causing rising prices right now, but the hurricane seems like a bs excuse.
https://video.foxbusiness.com/v/6313021393112#sp=show-clips -
Inelasticity of gas demand, which is due to lack of tradeoff options and forced urgency of purchase, also explains a lot of why it differs from consumer products in terms of pricing.BleachedAnusDawg said:
Good info. Is this because the gas and oil markets are much more volatile? I've been around other consumer products and pricing is determined by what they pay to get the product built or on the shelf. In the case of gas, I have actively noticed that prices always drop slower than they rise even if the correlating change in oil prices occur at the same rate.WestlinnDuck said:
Once again, to maintain their necessary rate of return, the price of gas has to reflect the replacement cost. If I buy gas at $4 a gallon to sell at $4.40 a gallon, I'd get a $.40 profit and the $4 to buy the next gallon. If my replacement cost goes to $5 a gallon, then I need to sell my $4 a gallon of gas at $5.50 to get my 10% profit and have $5 to buy the next gallon. Now, I would show a $1.50 profit, but I need that profit to buy the next gallon. My actual retained cash flow is only the $.50. Plus, the price of $5.50 is the market clearing price, so if you go to the pump you can actually get your gallon of gas. Demanding price controls always results in shortages.BleachedAnusDawg said:
Gas went up $.90 in less than two weeks.SFGbob said:
Just paid nearly $6.00 a gallon for regular. It's been rising steeply the last two weeks here in California. Good thing we've depleted our reserveMikeDamone said:
Ian price hike is warming up in the bull pen46XiJCAB said:So the Putin price hike is officially dead?
One thing that does piss me off about the gas stations is that they're pricing existing inventory at post-hurricane rates. The stuff bought last week didn't magically become $.50 more per gallon while it sat in the ground waiting to be pumped by a dropout Duck fan.
This is stuff that every high school senior should know about, let alone democrat politicians and every MSM alleged reporter.
I'm not paying attention to what's causing rising prices right now, but the hurricane seems like a bs excuse.
https://video.foxbusiness.com/v/6313021393112#sp=show-clips
https://youtu.be/y1ec6YRIoaA
