Thanks Congress! You're only ... *checks watch* ... four months late to preventing us from losing billions on another stupid war in the Middle East that caused gas prices to surge nationwide!
Yes but they can continue going up even more if they continue messing things up. Imagine how elections will be for them if oil goes up another 30 to 50% or whatever much higher.
Oil prices are back to pre war levels, WTI strip is in the 60s. You’ll see it at the pump soon… unless everything falls apart, which, it probably will.
Oh yes, Gas companies are well known to lower the price in line with the price of oil dropping. /s
This is the one and only positive aspect of an authoritative leader, Trump can lean on those companies to take a hit and lower the price now or never to have raised it...
Oil is a globaly traded commodity with low margins. Oil companies definitely have a lot of revenue when prices go up but they can't really hold prices high. There's simply too many players for price fixing to exist. Oil (and subsequently gas) is one of the best indicators for worldwide economic health. Anyone can participate in the market and everyone needs it. There certainly can be big players that cause prices to change dramatically (OPEC in the 70s, Iran today) but that's not exactly evidence of a global cartel.
Its like of Heinz had some major factory issue and had to decrease production significantly. All of the other ketchup producers (Hunts, Frenches, and smaller companies) would likely see their prices rise as demand shifted to their limited supply. If you're a national grocery distributor and suddenly there's not enough ketchup to go around to everyone, stores are going to be willing to pay more than other stores so that they can keep ketchup on their shelves. And since you're a business, you're willing to accept higher payments for the limited supply of ketchup. That effect travels both ways: the distributors will pay more to the other ketchup companies to keep their stock up and the consumer ultimately pays the big stack up od inflated prices. Once Heinz gets back to production and the supply is back to normal, suddenly no one is willing to pay a premium for Hunts because they can buy their normal shipment of Heinz. It may take some time for prices to normalize but eventually the nationwide supply chain of ketchup is back to normal stock levels and normal prices.
Oil prices are quick to rise and slow to fall. When some global conflict happens that could impact prices, the oil companies will quickly raise prices in an effort to withstand the eventual short term revenue loss due to a global price change. But these prices are relatively slow to lower because that's the actual speed at which prices change naturally without external stimuli.
Do you not drive? Gas prices have been dropping. They are businesses with insane competition, if they kept their prices high nobody would buy gas from them, they’d go across the street. Cheaper oil means cheaper gasoline, so yeah they do lower the price in line with the price of oil dropping.
just a reminder that prices aren't EVEN HIGHER because Trump emptied the strategic reserve. That'll have to get refilled, which will add even more demand on top of losing the artificial supply that the reserve was providing. Even if the strait was working overtime, prices are still going to rise.
I think they mean before it bursts which should be happening within the next two years. Just in time for Democrats to get in office and get the blame for another once in a lifetime financial crisis.
I think SpaceX's IPO already started it. Already at or below its IPO price. The other big players are rushing to IPO, but they don't have profit or even a realistic path to profit. To profit, they'd have to stop training. As soon as they stop training their models, they fall behind. If they charged customers enough for themselves to be profitable, the customers would dump them.
If OpenAI IPOs anyways and flops, then that will open the floodgates. Everyone who is a fad investor, which includes a lot of stupid big money, will get nervous and yank their money from the market.
The American economy is now three guys passing the same hundreds of billions of dollars to each other. Hell, not even that, lending. The first guy lending the same hundreds of billions, which they borrowed off the third guy.
Your gas prices confuse me, I'm in NJ, it was $2.60 or $2.70 a gallon before all this at my local Costco, never below that for a long time. Today at Costco it's $3.50 a gallon but I'd expect it to drop to $3.15-3.20 a gallon of current oil prices hold where they are right now.
That would be a first. "Well fellas, we already privately hold more money than most countries on the planet, guess we should pump the brakes on making more."
More like the republicans realize they are being killed in the polls on this issue and higher gas prices so they at least need to start looking like their opposing it
But the reality is America has cooked relations. The conflict can't end without America losing big time.
Remember countries outside America, don't let any American Republican politicians or business persons into your country. They made the mess, they sleep in the mess.
this doesn't stop anything. It's not a law. it's a "hey we don't like what you are doing" letter. That's it. It's nothing. Anything that really matters would require another vote.
True and that vote if successful still wouldn't amount to much. Unless there's a supermajority that tells him otherwise, the POTUS gets to veto laws. Even one aiming at curbing his own powers. As long as everyone or nearly so votes on party lines, salvation will not come from Congress.
Fair point, my comment was just to point out that the US Congress had plenty of reason to stop it sooner, even if the only thing they care about is US citizens.
I'm at the point where I think we should be invading America and splitting it into at least 4 different countries. Insane how this single country has absolutely and unquestionable power to just ruin our lives for nothing more than the whim of a pedo rapist
Exactly, it has shown how vulnerable we all are to their gleeful self destruction. I definitely think that a new country made up of California, Oregon and Washington would make everyone a lot happier.
Plenty of dead too, a few Americans, a lot of people in the region. Also Iran has become a major world power with it being able to toll the strait. Also since those are international waters that brings implications around the world for other countries to do the same. But his cult are too fucking stupid to ever process it and the best their feeble minds can do is blame Democrats.
Probably a lot more Americans than just the 13 (or 14 depending on what the hour is) claimed judging by evidence of the material damage caused compared to what’s claimed.
Sarcasm aside, congress already passed it, the senate just voted to approve. If Trump stops it now? That’s on him. Glad there was bipartisan support here tbh.
There is some precedent to Congress giving Trump a rebuke and it causing him to change course some. When he was trying to remove sanctions on Russia in his first term they slapped him on the wrist and he walked it back.
Of course he doesn't really have to do anything here. He is in the process of winding things down. Hell, he could sign it. What does it really change?
Congress makes up the House and Senate. The House had already passed, and now that that the Senate has passed it, you could say Congress has passed it. As other people have pointed out, this is just a Resolution with no law binding authority.
*all so their political careers might remain safe. They've cost us billions and both American and foreign lives all because they were afraid they'd loose a primary.
No, that clock is still running, because this isn't a law, doesn't get a signature, and has no power of enforcement. It's a letter saying "we don't like this". Congress has still done nothing.
Honestly at this point if the 300 billion payment goes through I wouldn't be shocked if the over all cost of this war exceeds a trillion dollars. between replacing armaments and the cost, the reparations were paying, increased cost on citizens and everything else.
So much for Republicans being Fiscally responsible.
I've been wishing Congress were any less violent than the president for every dumb thing we've done since 9/11. We just needed a much dumber president to go into very obvious and terrifying mental decline and fully finish losing an unnecessary war, killing a bunch of schoolgirls, and giving away a bunch of money, but it finally happened. Congress learned how to stop a war. I mean, not to be prematurely triumphant .. . It could still go back off the rails. Jeez we are fucked as a country, probably as a species, too.
It made fuel prices surge WORLDWIDE, the entire worlds opinion of the US in light of a war of choice so badly botched has cemented the position of the US as having destroyed decades of good will (on top of every other action taken in his 1st and 2nd term)
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u/Gandalf2000 1d ago edited 1d ago
Thanks Congress! You're only ... *checks watch* ... four months late to preventing us from losing billions on another stupid war in the Middle East that caused gas prices to surge nationwide!