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Cost of gas locally


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So much depends on the exchange rate. Within the last week the peso dropped over 100 basis points against the USD. I got lucky (for once) and wired money yesterday and got $20.50. The international rate dropped from about 20.70 to $20.25 after the Fed announced the rate hike this afternoon.

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1 hour ago, bwhite1948 said:

You haven't lived here in what, five years?  Must be plenty of trumpettes in Greenville for you to chat with, no?  

Injecting US partisan politics is supposedly frowned upon on this board.  @chapala @Mainecoons @moderator-2  @moderator5

Why don't you talk to mtnmama about bringing in politics! She is reading a Democrat msm talking point word for word.

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1 minute ago, Mexicoafterlife said:

Why don't you talk to mtnmama about bringing in politics! She is reading a Democrat msm talking point word for word.

Also oil companies lost billions during covid.

And are you going after apple who made record profits last quarter? Since they use cheap Chinese labor and way over charge for their crappy quality phones?

Nope just go after the ones your told to by your democrat masters.

If no political talk that means no reading off a political parties talking points too.

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https://momentofinanciero.mx/subsidiar-la-importacion-de-gasolina-cuesta-al-gobierno-7-pesos-por-litro/

Google Translation:

"Subsidizing gasoline costs the Mexican federal government 7 pesos per liter

The price of importing gasoline from the US increases 121% and the federal government subsidy remains at 7 pesos per liter

Posted by Diana Duran

June 15, 2022

ECONOMY AND FINANCE

Due to skyrocketing prices for gasoline in the US, the main supplier of that fuel to Mexico, the federal government subsidy is 7 pesos per liter.

And it is that between January and the first fortnight of June 2022 the import price of our neighbor increased 121.4%"
 

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3 hours ago, Mexicoafterlife said:

Why don't you talk to mtnmama about bringing in politics! She is reading a Democrat msm talking point word for word.

It isn't politics- it's world economics. Everything you don't agree with you label "Democrat", "leftie", "fascist", etc. 

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4 minutes ago, mudgirl said:

It isn't politics- it's world economics. Everything you don't agree with you label "Democrat", "leftie", "fascist", etc. 

How about you answer my next post where I explain how oil companies loat money during covid. And apple made record profits last quarter using next to slave labor in China!

The oil refineries are running at 90% capacity. Which is max because things break and have to be repaired or maintained.

And why would a company build new ones knowing the dems want all production stopped in 10 years or so?  Why spend billions making new refineries to have them closed before they even break even?

So again why is oil record profits bad but a company that builds mainly in China ok ie apple?

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https://news.yahoo.com/u-sell-45-million-bbls-203210454.html

"U.S. to sell up to 45 million bbls oil from reserve as part of historic release

 
Tue, June 14, 2022, 3:32 PM·1 min read
3b142700431cb9789e54f13d572b6a42
 
FILE PHOTO: The Bryan Mound Strategic Petroleum Reserve is seen in an aerial photograph over Freeport, Texas

WASHINGTON (Reuters) - The U.S. Department of Energy on Tuesday said it was selling up to 45 million barrels of oil from the Strategic Petroleum Reserve as part of the Biden administration's previously announced, largest-ever release from the stockpile.

Deliveries of crude from the SPR sale would take place from Aug. 16 through Sept. 30, the Energy Department said.

The Biden administration said in late March it would release a record 1 million barrels of oil per day of oil for six months from the SPR, held in a series hollowed-out salt caverns on the coasts of Louisiana and Texas."

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6 minutes ago, AlanMexicali said:

 

https://news.yahoo.com/u-sell-45-million-bbls-203210454.html

"U.S. to sell up to 45 million bbls oil from reserve as part of historic release

 
Tue, June 14, 2022, 3:32 PM·1 min read
3b142700431cb9789e54f13d572b6a42
 

FILE PHOTO: The Bryan Mound Strategic Petroleum Reserve is seen in an aerial photograph over Freeport, Texas

WASHINGTON (Reuters) - The U.S. Department of Energy on Tuesday said it was selling up to 45 million barrels of oil from the Strategic Petroleum Reserve as part of the Biden administration's previously announced, largest-ever release from the stockpile.

Deliveries of crude from the SPR sale would take place from Aug. 16 through Sept. 30, the Energy Department said.

The Biden administration said in late March it would release a record 1 million barrels of oil per day of oil for six months from the SPR, held in a series hollowed-out salt caverns on the coasts of Louisiana and Texas."

That is supposed to be reserved for war. Like China wants to start by attacking Taiwan. Or Russia if it starts to move on the old eastern block countries.

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59 minutes ago, Mexicoafterlife said:

That is supposed to be reserved for war. Like China wants to start by attacking Taiwan. Or Russia if it starts to move on the old eastern block countries.

https://www.nationalgeographic.com/environment/article/what-is-the-strategic-petroleum-reserve?cmpid=int_org=ngp::int_mc=website::int_src=ngp::int_cmp=amp::int_add=amp_readtherest

What is the Strategic Petroleum Reserve?

Prompted by a crippling oil embargo in the 1970s, the U.S. created the world’s largest oil reserve. But in a world shifting to renewables to combat climate change, its future is uncertain.

 
BYAMY MCKEEVER
PUBLISHED MARCH 16, 2022
7 MIN READ

In late November 1973, the world was just beginning to feel the fallout from the Yom Kippur War, a conflict between Israel and its neighbors Egypt and Syria.

To punish the United States and other western nations for supporting Israel during the war, the Organization of Arab Petroleum Exporting Countries (OPEC) cut off oil supplies—tripling the average price of imported crude oil. By November 25, the crisis had grown so dire that then-President Richard Nixon addressed the nation, asking citizens to lower their thermostats, refrain from driving on Sundays, and go easy on their Christmas light displays.

In the years that followed, the U.S. pursued a policy of energy independence, to protect it from such crises in the future. One of the new policy’s initiatives was the creation of the Strategic Petroleum Reserve (SPR), a stockpile of crude oil that the country could tap during emergencies. With a present-day capacity of more than 727 million barrels of oil, the reserve allows the country to respond to shortages—and attempt to prevent them.

Most recently, the U.S. said it would release 30 million barrels to energy companies after Russia, one of the world’s top oil producers, once again invaded Ukraine in late February 2022. Coordinated with other world powers, the release was intended to stabilize volatile oil markets and ultimately reduce gas prices that were skyrocketing amid fears of a shortfall.

But many environmental advocates argue that relying on the Strategic Petroleum Reserve to manage shortages is only a stopgap measure. In light of the looming climate crisis, they argue, the U.S. should end its dependence on fossil fuels and pivot to green energy sources instead.

How does the Strategic Petroleum Reserve work?

The Strategic Petroleum Reserve was originally created for emergencies—to be used in the face of severe disruptions to the global oil supply. To date, the U.S. has only ordered three emergency releases from the reserve. In 1991, when war broke out in the Persian Gulf during Operation Desert Storm, the U.S. released 17.2 million barrels of oil. In 2005, when Hurricane Katrina devastated oil production along the Gulf Coast, 20.8 million barrels were released. And in 2011, the U.S. and IEA jointly released 60 million barrels of oil when the civil war in Libya disrupted oil supplies.

But global emergencies are not the only time the U.S. taps into its oil reserves. The U.S. also periodically conducts sales to private companies from the Strategic Petroleum Reserve to test its readiness or raise revenue. And the country can also use the reserve to help private companies recover from smaller-scale disasters, such as extreme weather or shipping channel closures."

I presume you must know of the war between Russia and the Ukraine.

It can release oil if it needs to whenever the US federal government deems it necessary ( it appears Biden can use an executive order without US Lawmakers involvement ) according to reliable sources.

What are your sources?

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1 hour ago, Mexicoafterlife said:

How about you answer my next post where I explain how oil companies loat money during covid.

How about you answer all the questions that are put to you on this forum which you pointedly ignore and deflect from whenever you have no rational answer? 

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