It has been almost a week now since the attacks on the Saudi oil facilities. Initially there was a spike in oil prices, but now the prices have stabilized below $60 per barrel. Why is this? Simple, isn't it. The USA is producing oil at a record pace. Yet I have seen little, if any, reporting on this. For us who have been around for a while I wonder what would have happened if this event had occurred 40 years ago?
Quote from: supsalemgr on September 19, 2019, 09:48:27 AM
It has been almost a week now since the attacks on the Saudi oil facilities. Initially there was a spike in oil prices, but now the prices have stabilized below $60 per barrel. Why is this? Simple, isn't it. The USA is producing oil at a record pace. Yet I have seen little, if any, reporting on this. For us who have been around for a while I wonder what would have happened if this event had occurred 40 years ago?
I don't know about you, but I remember the gas lines at 3A.M.
Quote from: supsalemgr on September 19, 2019, 09:48:27 AM
It has been almost a week now since the attacks on the Saudi oil facilities. Initially there was a spike in oil prices, but now the prices have stabilized below $60 per barrel. Why is this? Simple, isn't it. The USA is producing oil at a record pace. Yet I have seen little, if any, reporting on this. For us who have been around for a while I wonder what would have happened if this event had occurred 40 years ago?
Hell, just 10 years ago. Obozo would have seen to it oil prices "Would have necessarily skyrocketed"
Quote from: walkstall on September 19, 2019, 10:09:58 AM
I don't know about you, but I remember the gas lines at 3A.M.
I was in MS at the time and it was not quite that bad.
Quote from: supsalemgr on September 19, 2019, 11:05:34 AM
I was in MS at the time and it was not quite that bad.
I was in Korea at the time, it was Hell. Carter cut our heating fuel by half, meaning 4 hrs of heat a night at 27 degrees below zero.
Thank God we're now the leading producer of energy in the world, we're buffered while the rest of the world has to deal with the M/E crazies.
Quote from: Solar on September 19, 2019, 12:13:34 PM
I was in Korea at the time, it was Hell. Carter cut our heating fuel by half, meaning 4 hrs of heat a night at 27 degrees below zero.
Thank God we're now the leading producer of energy in the world, we're buffered while the rest of the world has to deal with the M/E crazies.
Trump has righted all that. Yes. This is good. I remember gas lines halfway around the block and gas "shot up" to $1.40 from around 77 cents. Ofc there was leaded gas back then..
PS: My mom was in Korea..in the real times.