YOU don't know how the system works

Milwaukee WI

Description

WOW Drink more Kool-Aid! Brent crude oil spot prices averaged $55 per barrel in January 2021, up $5.00 barrel from the December 2020 average but $9.00 a barrel lower than the average in January 2020. According to AAA, the national average price for a gallon of gasoline in January 2020 is $2.58 According to AAA, the national average price for a gallon of gasoline in January 2021 is $2.58 SO oil was selling in the market in January 2020 for $9.00 a barrel MORE than January 2021 but was sold to the consumer for the SAME PRICE PER GALLON! The world’s transportation sector is almost totally dependent on petroleum products such as gasoline and diesel fuel. Many countries also rely heavily on petroleum fuels for heating, cooking, or generating electricity. Petroleum products made from crude oil and other hydrocarbon liquids account for about a third of total world energy consumption. OPEC attempts to manage oil production of its member countries by setting crude oil production targets, or quotas, for its members. The difference between oil market demand and supply from non-OPEC sources is often referred to as the call on OPEC because OPEC members maintain the world's entire spare crude oil production capacity. The volatility of oil prices is tied to the low responsiveness, or inelasticity, of supply and demand to price changes in the short term. Crude oil production capacity and the equipment that uses petroleum products as its main source of energy are relatively fixed in the near term. It takes time to develop new supply sources or to vary production, and when prices rise, switching to other fuels or increasing equipment fuel efficiency in the near term is challenging for consumers to do. These conditions may require a large price change to rebalance physical supply and demand. Thus when the SUPPLY pipeline is eliminated, the demand to change the price in the short term. The pipeline would transport 830,000 barrels per day of Canadian crude oil, the total greenhouse gas emissions from which would be about 150 million metric tons per year, or about 0.3% of the world total. The pipeline — the most studied infrastructure project in American history — is already under construction and has cleared countless legal and environmental hurdles. Halting construction will also impede the safe and efficient transport of oil, and unfairly single out production from one of our closest and most important allies.