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CapnSteve

(419 posts)

5. Great detail!

Reply to GreatGazoo (Reply #4)

Mon Jun 15, 2026, 12:45 PM

8 hrs ago

Also, the price of a barrel of oil is dependent on the relative strength of the US dollar, since oil price is reported in USD.
Strong USD = lower oil price.
Weak USD = higher oil price.

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Highlight:

I worked in the Oil and Gas industry for over 30 years... [View all] CapnSteve 9 hrs ago OP

👍 Rec'd underpants 8 hrs ago #1

Excellent explanation gab13by13 8 hrs ago #2

And the media will kacekwl 8 hrs ago #3

They will keep the price as high as possible for as long as possible GreatGazoo 8 hrs ago #4

Great detail! CapnSteve 8 hrs ago #5

Yes, but... CapnSteve 8 hrs ago #6

Same goes for groceries, imported items, restaurant food, TexasBushwhacker 7 hrs ago #7

Well done. Thank you. ❤️ littlemissmartypants 7 hrs ago #8

The same thing is taking place popsdenver 7 hrs ago #9

The price of gas is based on how much oil companies can get away with dlk 6 hrs ago #10

If the "new normal" doesn't come down, how does one explain this: onenote 6 hrs ago #11

These repuke oil companies are making massive amounts of money off our suffering. kimbutgar 6 hrs ago #12

We passed peak oil use IbogaProject 6 hrs ago #13

If it's been 6 months, it isn't temporary. It's just life now... OC375 6 hrs ago #14

After I retired from regular job multigraincracker 5 hrs ago #15

they sure don't waste any time jacking those prices UP Skittles 3 hrs ago #16