Gas prices and buying cards

vintagetoppsguy · #1 03-12-2022, 10:11 AM

Quote:

Originally Posted by VintageBall

Interestingly, the Keystone was only 2% done when canceled. So you are correct.

As to perceptions about current tone, the facts are what matter:

Federal data shows the Biden administration approved 3,557 permits for oil and gas drilling on public lands in its first year, far outpacing the Trump administration�s first-year total of 2,658.

This isn't political spin by them or me or anyone on this board. These are simply numbers.

Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management's New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits � more than twice the 71 drilling permits Trump approved in that state in his first year.

And there are currently 9,173 approved oil drilling permits that have been approved but are going unused by the oil industry.

Meaning that the oil companies here at home could be going to town pumping out oil but are not doing so. But more production could lower prices and the profits that the oil companies are currently pocketing precisely because gas prices are high.

Even so, oil production in the U.S. in 2021 (Biden) was on par with 2020 production and exceeded yearly production from 2016-18 (Trump), data shows. Again, no spin and no politics. Numbers.

But why let the facts get in the way of a good story about the current administration killing oil production? Maybe the current administration wants to, but they sure haven't done so, which actually has led to angry press releases from environmental groups. So they've managed to anger both their own constituents and those of their political opponents.

But take heart, at least oil company execs probably are using all their newfound cash to buy expensive baseball cards and contribute to increased card prices, right? This last statement is pure speculation, of course. Maybe they prefer buying comic books and NFTs of cartoon gorillas more than cards!

First, let me deal with the bold text. Yes, it is meant to be political because I know the left-leaning BS source of information for your post (see screenshot below). Nice copy and paste skills by the way.

Second, yup those are real numbers, but the numbers don't tell the entire story. Do you want to dissect those numbers? How many of those were new permits? How many of them were permit extensions? You do know a drilling permit only lasts 2 years in most states, don't you? You also know that sometimes it is more profitable not to drill, don't you? You also know that sometimes permits are issued on land that has no producible oil and gas, don't you (it's leverage used against competition)? Drilling permits only cost a few hundred dollars and a lot of time they're obtained just as a game for one reason or another.

Last, as I stated earlier in this thread, I've spent the last 15 years in the oil in gas industry. I don't know everything, but I know a lot. Please tell me what industry you work in so I can school you all about it.

Quote:

Originally Posted by VintageBall

Nearly 2,000 of the drilling permits were approved on public lands administered by the Bureau of Land Management's New Mexico office, followed by 843 in Wyoming, 285 in Montana and North Dakota, and 191 in Utah. In California, the Biden administration approved 187 permits � more than twice the 71 drilling permits Trump approved in that state in his first year.

GrewUpWithJunkWax · #2 03-12-2022, 11:31 AM

All roads lead to energy.

The spike in prices has sent many drivers rushing to the pump to get ahead of increasing pump prices. Those rushes exacerbate weaknesses in an already stressed supply chain. On top of the truck driver shortage, US crude supply is well-below the 5yr avg, gasoline is low, and diesel is even worse. Now, with Europe in such need, a lot of product is going to be exported to those countries.

Tying into to baseball... there's a fun Moneyball scene edited for the current oil situation:
https://twitter.com/i/status/1501762759209504769

I like reading the perspectives held by long-time hobbyists, who have lived the economic ups & downs and seen the impacts on cards. It's great and appreciated.

I'd lean toward the idea that the middle gets squeezed the most. Inflation, cost of everyday goods/needs, plus a lot of travel expected this year, and people will have to spend more to do so - all siphoning away some of the funds that might have otherwise gone to cards.

Yoda · #3 03-12-2022, 12:06 PM

I guess it all boils down to what you wish to hold; cash, stocks and bonds, oil futures, gold, AR15's, fine wines, real property, jewelry, art or........baseball cards.

sedin26 · #4 03-12-2022, 12:17 PM

I have a fairly modest personal budget on a monthly basis, which I spend almost entirely on cards. I also try to find loopholes to fit them into other categories but most of those have been closed

The cost of gas and other goods is going up quickly but it would have to get super tight here to affect cards (job loss or something along those lines) - I'll simply keep buying what I can get every month with my current budget.

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