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Thread: Who needs the Strategic Oil Reserve

  1. #16
    Join Date
    10-30-01
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    Salt Lake City
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    Which means we're screwed.

    Hunter
    I don't care if it hurts. I want to have control. I want a perfect body. I want a perfect soul. - Creep by Radiohead

  2. #17
    Join Date
    10-14-01
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    TEXAS!
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    Quote Originally Posted by UTAH View Post
    Which means we're screwed.

    Hunter
    That's what my T-shirt says......
    The only way of discovering the limits of the possible is to venture a little way past them into the impossible - Arthur C. Clarke

  3. #18
    Join Date
    10-22-01
    Location
    All Over
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    38,191
    More to the cost of energy:

    Yesterday I got a propane delivery at $2.54/gal. Last year at this time I was paying $2.00/ gal. Currently I pay $0.118/kWh for electric, last year at this time $0.0966/kWh.

    That equals a 27% increase in propane and a 22% increase in electric.

    I have an option of using either for heat. Currently the cost of using propane (90% eff.) is $30.68/million BTU, the cost of electric (resistance) is $34.58/ million BTU, a 12.7% differential.

    WTI futures this morning are at $71.75 ($70.60 @ 3 PM), down from $84.65 on Oct. 26, 2021 a drop of 15.2% from its high.

    I admit to having no crystal ball but from what I see in the marketplace and the falling prices of energy and the growth in the GDP I am not overly alarmed with the outlook for long term inflation, there is more going in the right direction than signs of long term trouble.

    I am sure that disappoints those who have run off with the remains of the republican party and are currently cheering for runaway inflation.

    Last edited by Dave Grubb; 12-09-2021 at 03:09 PM.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

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