3rdnlng Posted March 29, 2020 Share Posted March 29, 2020 23 minutes ago, Chef Jim said: About $.80 in state and federal taxes and fees per gallon. And this is one good thing about the virus. I don't drive nearly as much and the few times I've gone to the office there is no traffic so my mileage has been great so I'm spending a lot less on gas. So California's tax revenue must be going down then. The State should probably raise government pensions to compensate. 1 Link to comment Share on other sites More sharing options...
Buffalo_Gal Posted March 29, 2020 Share Posted March 29, 2020 Remember to order for home delivery if you can! Check if your favorite restaurant has delivery (they may have now if they didn't before). Grubhub has some free delivery deals, doordash has a $10 credit if you have a Chase Sapphire reserve card (possibly other credit cards?), ubereats has some $0 delivery specials, etc. National Restaurant Association says 11 percent of restaurants could close for good; Trump says it's possible </snip> In response to a question from the press, which cited a National Restaurant Association survey that found 3 percent of all restaurants had already closed for good, President Trump said he heard 3 percent “could be lost,” but acknowledged that “10 or 11 percent” could go under in total. </snip> 2 Link to comment Share on other sites More sharing options...
Tiberius Posted March 29, 2020 Share Posted March 29, 2020 Trump is the socialist now. To get this economy going will require socialist spending on a mass scale. Can’t deny that Link to comment Share on other sites More sharing options...
RochesterRob Posted March 29, 2020 Share Posted March 29, 2020 38 minutes ago, Tiberius said: Trump is the socialist now. To get this economy going will require socialist spending on a mass scale. Can’t deny that So, is it OK now for you to be a Trump supporter? Did he scratch your commie itch? 1 Link to comment Share on other sites More sharing options...
Taro T Posted March 29, 2020 Share Posted March 29, 2020 3 hours ago, SoCal Deek said: The same will be true of solar, whose viability relies solely on expensive oil. government subsidies. FTFY. 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 29, 2020 Share Posted March 29, 2020 10 minutes ago, Taro T said: FTFY. I’m talking long term viability. Short term is dependent on subsidies. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 29, 2020 Share Posted March 29, 2020 (edited) 18 minutes ago, RochesterRob said: So, is it OK now for you to be a Trump supporter? Did he scratch your commie itch? Funny how much of a hypocrite he is. I think it's safe to say that many of the conservatives here are NOT pleased with this bill. 1 hour ago, Buffalo_Gal said: Remember to order for home delivery if you can! Check if your favorite restaurant has delivery (they may have now if they didn't before). Grubhub has some free delivery deals, doordash has a $10 credit if you have a Chase Sapphire reserve card (possibly other credit cards?), ubereats has some $0 delivery specials, etc. National Restaurant Association says 11 percent of restaurants could close for good; Trump says it's possible </snip> In response to a question from the press, which cited a National Restaurant Association survey that found 3 percent of all restaurants had already closed for good, President Trump said he heard 3 percent “could be lost,” but acknowledged that “10 or 11 percent” could go under in total. </snip> Did a pick up at our favorite restaurant yesterday. There were people ("old" people) at the bar. WTF??? Edited March 29, 2020 by Chef Jim 1 Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 29, 2020 Share Posted March 29, 2020 1 hour ago, RochesterRob said: Yes, but what is to stop them from going to 1.00 dollar or more per gallon? Nothing. It's been the fastest way for the state to bring in money in the past. I'm actually surprised it's only 80 cents on the gallon. The funny part is that the state was considering a road usage tax that pings people not just on gas, but how much they use the highways. Which was funny at the time because it was the state's way of getting more revenue from people who bought electric cars to avoid paying for gas. Link to comment Share on other sites More sharing options...
Buffalo_Gal Posted March 29, 2020 Share Posted March 29, 2020 19 minutes ago, Chef Jim said: Funny how much of a hypocrite he is. I think it's safe to say that many of the conservatives here are NOT pleased with this bill. I'm not a conservative and I thought that bill was horrible. Link to comment Share on other sites More sharing options...
Boatdrinks Posted March 29, 2020 Share Posted March 29, 2020 1 hour ago, Tiberius said: Trump is the socialist now. To get this economy going will require socialist spending on a mass scale. Can’t deny that Even more of it the longer things are kept locked down. It’s needed to prevent total collapse, and everyone is on board not Just Trump. The difference is he wants everything open, up and running. Some would like the socialism to become the new American way of life. Interestingly , the required dose of socialism now is the perfect argument against it as a long term thing. Link to comment Share on other sites More sharing options...
GG Posted March 29, 2020 Author Share Posted March 29, 2020 2 hours ago, Chef Jim said: About $.80 in state and federal taxes and fees per gallon. Sure about that math? CA prices are mid-$3, but states with low gas taxes are under $2. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 29, 2020 Share Posted March 29, 2020 3 hours ago, GG said: Sure about that math? CA prices are mid-$3, but states with low gas taxes are under $2. Yes. However that doesn't include 8-9% in local sales tax. But that was my point. Even with our highest taxes we shouldn't be that expensive. Now to be "fair" the prices I quoted were for premium and to be fair #2 leave it to @3rdnlng to provide a crap app. The gas at those stations is about .$30 lower than what the app stated. Link to comment Share on other sites More sharing options...
RochesterRob Posted March 29, 2020 Share Posted March 29, 2020 7 minutes ago, Chef Jim said: Yes. However that doesn't include 8-9% in local sales tax. But that was my point. Even with our highest taxes we shouldn't be that expensive. Now to be "fair" the prices I quoted were for premium and to be fair #2 leave it to @3rdnlng to provide a crap app. The gas at those stations is about .$30 lower than what the app stated. Any refining done in CA? If not then that may be an additional cost in terms of transportation to pass on in terms of finished product. Other than that I don't know why the free market would not work to retail fuel at the lowest possible price. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 29, 2020 Share Posted March 29, 2020 8 minutes ago, RochesterRob said: Any refining done in CA? If not then that may be an additional cost in terms of transportation to pass on in terms of finished product. Other than that I don't know why the free market would not work to retail fuel at the lowest possible price. Third most refineries in the US behind TX and ND. Link to comment Share on other sites More sharing options...
CarpetCrawler Posted March 29, 2020 Share Posted March 29, 2020 5 hours ago, Tiberius said: Trump is the socialist now. To get this economy going will require socialist spending on a mass scale. Can’t deny that Well if it's got to be done, thank goodness is will be done by someone who knows how distasteful it is and will give it up and go back the normal ways as quickly as possible. Link to comment Share on other sites More sharing options...
Tiberius Posted March 29, 2020 Share Posted March 29, 2020 1 minute ago, CarpetCrawler said: Well if it's got to be done, thank goodness is will be done by someone who knows how distasteful it is and will give it up and go back the normal ways as quickly as possible. So you will vote for the guy who signed the biggest socialist bill in American history? Socialist Link to comment Share on other sites More sharing options...
Chef Jim Posted March 29, 2020 Share Posted March 29, 2020 3 hours ago, IDBillzFan said: Nothing. It's been the fastest way for the state to bring in money in the past. I'm actually surprised it's only 80 cents on the gallon. The funny part is that the state was considering a road usage tax that pings people not just on gas, but how much they use the highways. Which was funny at the time because it was the state's way of getting more revenue from people who bought electric cars to avoid paying for gas. That $.80 includes federal taxes. Do you know how much you pay? 2 minutes ago, Tiberius said: Yes because smart people don’t vote based on single issues. Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 29, 2020 Share Posted March 29, 2020 2 minutes ago, Chef Jim said: That $.80 includes federal taxes. Do you know how much you pay? It looks like our state tax is 33 cents on the gallon. Right now local gas is about $1.95/gallon for unleaded regular. Link to comment Share on other sites More sharing options...
CarpetCrawler Posted March 29, 2020 Share Posted March 29, 2020 1 minute ago, Tiberius said: So you will vote for the guy who signed the biggest socialist bill in American history? Socialist Yes, and I guess you can too now. Link to comment Share on other sites More sharing options...
Tiberius Posted March 29, 2020 Share Posted March 29, 2020 33 minutes ago, CarpetCrawler said: Yes, and I guess you can too now. Nope Biden for President! Link to comment Share on other sites More sharing options...
Foxx Posted March 29, 2020 Share Posted March 29, 2020 18 minutes ago, Tiberius said: Nope Biden for President! im'a go out on a limb here and say quite possibly that Tiberius might make a better pres than that lump of grey matter. 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted March 29, 2020 Share Posted March 29, 2020 28 minutes ago, Tiberius said: Nope Biden for President! Why? Tell us why you think he’s the best man for the job. Link to comment Share on other sites More sharing options...
SoCal Deek Posted March 29, 2020 Share Posted March 29, 2020 29 minutes ago, Tiberius said: Nope Biden for President! You better cast your ballot today! He won’t even be on the ballot in November. 1 Link to comment Share on other sites More sharing options...
RochesterRob Posted March 29, 2020 Share Posted March 29, 2020 1 minute ago, SoCal Deek said: You better cast your ballot today! He won’t even be on the ballot in November. Yep, that draft you are feeling this afternoon is the Cuomo movement for POTUS (yuck). Link to comment Share on other sites More sharing options...
Chef Jim Posted March 29, 2020 Share Posted March 29, 2020 2 minutes ago, SoCal Deek said: You better cast your ballot today! He won’t even be on the ballot in November. I wouldn’t be surprised if this was the case. Link to comment Share on other sites More sharing options...
Tiberius Posted March 29, 2020 Share Posted March 29, 2020 53 minutes ago, Foxx said: im'a go out on a limb here and say quite possibly that Tiberius might make a better pres than that lump of grey matter. My chief desire in being president would be to hook up with super hot chicks. What would the press say? Link to comment Share on other sites More sharing options...
Foxx Posted March 29, 2020 Share Posted March 29, 2020 (edited) 40 minutes ago, Tiberius said: My chief desire in being president would be to hook up with super hot chicks. What would the press say? they would probably wonder if you were secretly gay. after all, believe all accusers, am i rite?? Edited March 29, 2020 by Foxx 1 Link to comment Share on other sites More sharing options...
RochesterRob Posted March 29, 2020 Share Posted March 29, 2020 15 minutes ago, Foxx said: the would probably wonder if you were secretly gay. after all, believe all accusers, am i rite?? After the 30th visit in 45 days by Anderson Cooper leaving each time with a different pair of rubber short pants on there would be no more wondering. 1 Link to comment Share on other sites More sharing options...
Foxx Posted March 29, 2020 Share Posted March 29, 2020 19 minutes ago, RochesterRob said: After the 30th visit in 45 days by Anderson Cooper leaving each time with a different pair of rubber short pants on there would be no more wondering. wait till Don Lemon gets wind that AC has been there more often. i can see it now... 2 Link to comment Share on other sites More sharing options...
Foxx Posted March 29, 2020 Share Posted March 29, 2020 won't be long before we won't be able to store it. so much so that, will we see negative prices on a barrel? The oil glut is filling up the world’s supertankers fast The world’s oil tankers are being filled with crude at a record pace as the options to store a glut on land rapidly diminish, one of the industry’s largest owners said. A combination of surging production from key producers worldwide and capitulating demand in the face of the coronavirus outbreak means that land storage is being overwhelmed, said Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS. The world is likely overproducing by about 20 million barrels a day, or 20% of normal consumption, he said, echoing wider industry views. ... Link to comment Share on other sites More sharing options...
TPS Posted March 29, 2020 Share Posted March 29, 2020 20 minutes ago, Foxx said: won't be long before we won't be able to store it. so much so that, will we see negative prices on a barrel? The oil glut is filling up the world’s supertankers fast The world’s oil tankers are being filled with crude at a record pace as the options to store a glut on land rapidly diminish, one of the industry’s largest owners said. A combination of surging production from key producers worldwide and capitulating demand in the face of the coronavirus outbreak means that land storage is being overwhelmed, said Robert Hvide Macleod, Chief Executive Officer of Frontline Management AS. The world is likely overproducing by about 20 million barrels a day, or 20% of normal consumption, he said, echoing wider industry views. ... No. Futures prices are in a steep "contango," which means the current price is less than the future price to such an extent that it more than covers the cost of storage. That means you can make a risk-free profit by buying oil today and storing it tankers--banks and hedge funds do this. When the above ground storage runs out, and financial traders can't take advantage of this any longer, the Saudis will be forced to reduce pumping and meet the "real" demand for oil. Link to comment Share on other sites More sharing options...
keepthefaith Posted March 30, 2020 Share Posted March 30, 2020 3 hours ago, TPS said: No. Futures prices are in a steep "contango," which means the current price is less than the future price to such an extent that it more than covers the cost of storage. That means you can make a risk-free profit by buying oil today and storing it tankers--banks and hedge funds do this. When the above ground storage runs out, and financial traders can't take advantage of this any longer, the Saudis will be forced to reduce pumping and meet the "real" demand for oil. So it's a good time to buy an oil ETF. Link to comment Share on other sites More sharing options...
TPS Posted March 30, 2020 Share Posted March 30, 2020 8 hours ago, keepthefaith said: So it's a good time to buy an oil ETF. Not unless you expect a big move up in prices. Steep contango creates a built-in loss for commodity etfs through what's known as the roll yield. For example, the value of USO is derived from its purchase of futures on oil, the contracts closest to expiration. Before the contracts expire, the etf managers have to sell (so as not to take delivery) and then buy the next month contracts. In contango, your selling price is less than your buying price--the fund is selling futures low and buying high, creating a "negative roll yield." As that eats away at the value of the underlying assets, it also eats away at the price of the etf, unless you have a bunch uninformed investors piling in, which can temporarily push the price above underlying value...So, if you see "professionals" hyping USO or other oil etfs when the markets in contango, be wary... Link to comment Share on other sites More sharing options...
Nanker Posted March 30, 2020 Share Posted March 30, 2020 This is the other "war" that we're in. Both the Saudis and Putin are trying to destroy the US Shale Oil industry and with it our energy independence. I'd like to see POTUS address this more directly than he has. Of course, the media would harangue us with stories about how he no longer cares about containing the Chinese Corona Virus and is more concerned about his "Big Oil" buddies profits - ignoring the fact that tens of thousands of oil workers will be put out of jobs. Link to comment Share on other sites More sharing options...
3rdnlng Posted March 30, 2020 Share Posted March 30, 2020 5 minutes ago, Nanker said: This is the other "war" that we're in. Both the Saudis and Putin are trying to destroy the US Shale Oil industry and with it our energy independence. I'd like to see POTUS address this more directly than he has. Of course, the media would harangue us with stories about how he no longer cares about containing the Chinese Corona Virus and is more concerned about his "Big Oil" buddies profits - ignoring the fact that tens of thousands of oil workers will be put out of jobs. Putin is playing a fool's game. The Saudi's wanted to lower production, and contrary to the past cooperation between Russia and OPEC Putin refused. So, Saudi Arabia said FU to Russia and oil prices tanked big time. Russia is a one trick pony not nearly as wealthy as Saudi Arabia. Russia is cutting off their nose to spite their face. Our economy is not solely dependent on oil sales so we can outlast them. They're bringing a penknife to a gun fight. Russia/Soviet Union should have learned their lesson back in the 80's when Reagan bankrupted them over an arm's race. Link to comment Share on other sites More sharing options...
Nanker Posted March 30, 2020 Share Posted March 30, 2020 3 minutes ago, 3rdnlng said: Putin is playing a fool's game. The Saudi's wanted to lower production, and contrary to the past cooperation between Russia and OPEC Putin refused. So, Saudi Arabia said FU to Russia and oil prices tanked big time. Russia is a one trick pony not nearly as wealthy as Saudi Arabia. Russia is cutting off their nose to spite their face. Our economy is not solely dependent on oil sales so we can outlast them. They're bringing a penknife to a gun fight. Russia/Soviet Union should have learned their lesson back in the 80's when Reagan bankrupted them over an arm's race. Do you think Putin will try some intervention(s) in other parts of the world when their wells run dry? Link to comment Share on other sites More sharing options...
RochesterRob Posted March 30, 2020 Share Posted March 30, 2020 26 minutes ago, Nanker said: This is the other "war" that we're in. Both the Saudis and Putin are trying to destroy the US Shale Oil industry and with it our energy independence. I'd like to see POTUS address this more directly than he has. Of course, the media would harangue us with stories about how he no longer cares about containing the Chinese Corona Virus and is more concerned about his "Big Oil" buddies profits - ignoring the fact that tens of thousands of oil workers will be put out of jobs. Didn't Trump announce his intention to buy oil for the national reserve last week. Link to comment Share on other sites More sharing options...
RochesterRob Posted March 30, 2020 Share Posted March 30, 2020 6 minutes ago, Nanker said: Do you think Putin will try some intervention(s) in other parts of the world when their wells run dry? I would keep my eye on the virus situation in India. If their government gets it into their head that the Chinese intentionally let the virus run amok that could lead to even worse relations between India and China with Putin as the wild card. Does Putin feel that China has gotten too big for its pants and push for a pact with India which in turn raises paranoia in China about foreign aggression in the region? Link to comment Share on other sites More sharing options...
3rdnlng Posted March 30, 2020 Share Posted March 30, 2020 22 minutes ago, Nanker said: Do you think Putin will try some intervention(s) in other parts of the world when their wells run dry? They are limited by the contents of their wallet. I don't think their wells will run dry soon but selling their oil at a loss is not a strategy that they can sustain. 13 minutes ago, RochesterRob said: I would keep my eye on the virus situation in India. If their government gets it into their head that the Chinese intentionally let the virus run amok that could lead to even worse relations between India and China with Putin as the wild card. Does Putin feel that China has gotten too big for its pants and push for a pact with India which in turn raises paranoia in China about foreign aggression in the region? Remember, if Russia didn't have nuclear weapons they would just be another country with an economy the size of Texas. With Trump as president, we're their daddy, while when Obama was in charge they were Michael to our Fredo. 2 Link to comment Share on other sites More sharing options...
Foxx Posted March 30, 2020 Share Posted March 30, 2020 29 minutes ago, Nanker said: Do you think Putin will try some intervention(s) in other parts of the world when their wells run dry? i would be more concerned with the deep state trying to contain Russia than anything Russia might actually do. 1 Link to comment Share on other sites More sharing options...
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