Most terrifying moment on a tractor in years

Flintknapper

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Like any complex issue there is plenty of blame to go around for any momentary glitch. Seems like we need to add in the refineries totalled a couple years ago in one of the many hurricanes hitting the south coast a couple years ago. And not yet back online. I am not sure what it would take to get the oil companies off their duffs. They are more directly affected by legislation. Which in my opinion is almost never well written.
5 major refineries closed down in the last two years for various reasons.

What it would take to get the oil companies "off their duffs" is the assurance that investing billions of dollars into new refineries or bringing old refineries back on line will be profitable for them when done. It takes years to build or repair....that is why you have to stay ahead of the game.

When you have an administration dedicated to making exploration, production, permits and restrictions as onerous as possible....why would the oil companies invest based on that?

Bidens actions and proposals such as canceling the Keystone pipeline, suspension of new federal oil and gas leases, higher drilling fees on federal land and Liberal-led push for climate change policies.... sent a very clear signal to US Oil producers.

There is quite a frosty relationship between this administration and Oil Companies. So the physiological aspect of it leaves something to be desired.

We have diplomatic relations with Nations that hate us....but supply us oil. We exercise 'diplomacy' with Iran, Ukraine, Venezuela, Saudi Arabia. How about we try a little of that right here at home. If Biden and the rest of the Green New Deal advocates weren't so hell bent on an adversarial relationship, it wouldn't hurt things.

Yes, it is complex, yes there is blame to share. I don't have all the answers but I DO know you can't spit in someone's face then turn around and expect them to help.
 
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58Ford

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I was sitting in a long lineup Thursday with my Harley, waiting to get gas at the cheapest place around.
I was cooking in the heat(ATGATT)...slight up-grade and the low fuel light came on. I finally pumped in $36.50 (17.5L) into an 18L tank. I was sweating(cooking in the heat) and sweating (fearful of running out of gas ) trying to push an 850lb bike up to the pump. The final sweat was the cost. Ouch !

I am sure your tractor will take more than $36.50 but it still hurt. I usually put in $18-$20 in the thing.

Friggin fuel cost is getting ridick !
jeez! A fuel light on your bike? I’ve never owned that much bike!
 
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troverman

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As someone who burns a lot of diesel for a living, I am livid. My 60 gallon transfer tank keeps getting refilled for close to $6/gal (off-road red diesel) so I can run my side business. The diesel pickup ferrying the tractor on a big trailer (along with other equipment) to and from jobs is sucking down diesel at the road taxed rate of $6.29 per gallon. People can spin it any way they want, but the bottom line is the very oil unfriendly administration currently in office are the ones responsible for this problem. This is a conscientious effort to get people off the gas and diesel, and on to electrics. The big problem is there is no electric solution for anything more than a half ton pickup, and what if you just plain don't want an electric? What if you are totally satisfied with your gas or diesel burning vehicle you have now? Beyond that, there isn't enough power being generated even if everyone wanted to drive an EV. At the end of the day, average Americans with no political agenda are getting it stuck to them hard by the government, on purpose.
 
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Flintknapper

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What if you are totally satisfied with your gas or diesel burning vehicle you have now? Beyond that, there isn't enough power being generated even if everyone wanted to drive an EV. At the end of the day, average Americans with no political agenda are getting it stuck to them hard by the government, on purpose.
^^^^^

As sure the sun will rise tomorrow, Commiefornia will have rolling black outs this summer. And they want everyone to have an electric car.....?
 
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Henro

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If only you knew how ignorant that statement is.

But....alas, there will always be people "who don't know, what they don't know".

This holds especially true with respect to oil/energy companies, how they work and why. What influences and drives production, production capability, pricing etc....
Could you explain how ignorant that statement is?

I don't know and don't really care much as I don't drive much being retired, although I do use my tractors...

Just seems like just about any company will play the market and do their best to maximize their profits, and not really care about the consumer. Simply the way the free market works...

Maybe that image misrepresented the actual facts. Don't know...

This is meant to be an economics question, NOT a political question.
 

aaluck

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Could you explain how ignorant that statement is?

I don't know and don't really care much as I don't drive much being retired, although I do use my tractors...

Just seems like just about any company will play the market and do their best to maximize their profits, and not really care about the consumer. Simply the way the free market works...

Maybe that image misrepresented the actual facts. Don't know...

This is meant to be an economics question, NOT a political question.
Im not nearly smart enough to understand. I'm very unhappy with what is going on with prices. Not sure why but.......

 
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GeoHorn

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If only you knew how ignorant that statement is.

But....alas, there will always be people "who don't know, what they don't know".

This holds especially true with respect to oil/energy companies, how they work and why. What influences and drives production, production capability, pricing etc....
Flint…you’re the one out-of-touch. It’s common ploy for big oil to embarrass the party they don’t like: (I actually own Chevron stock and am still unhappy about this):
San Ramon, Calif., April 29, 2022 – Chevron Corporation (NYSE: CVX) today reported earnings of $6.3 billion ($3.22 per share - diluted) for first quarter 2022, compared with $1.4 billion ($0.72 per share - diluted) in first quarter 2021. Included in the current quarter were pension settlement costs of $66 million. Foreign currency effects decreased earnings by $218 million. Adjusted earnings of $6.5 billion ($3.36 per share - diluted) in first quarter 2022 compares to adjusted earnings of $1.7 billion ($0.90 per share - diluted) in first quarter 2021. Sales and other operating revenues in first quarter 2022 were $52 billion, compared to $31 billion in the year-ago period.
 
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Bmyers

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When it comes to profits, what is a reasonable amount? Is the profits that Microsoft makes reasonable? Is the profit that John Deere make reasonable? Is the profit Ford makes reasonable? Is the profit that BP makes reasonable?

While we are talking about reasonable, are the profits the States and Federal government make reasonable?

Not saying we don't need to discuss what is reasonable and what is gouging, but when doing so we need to look at all industries (oil, automotive, software, healthcare, pharmaceutical, etc.) and the government which is one of the big industries in our country. Once we talk about all them and come up with what is reasonable, we might be surprised who is really making the money and who is not.
 
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Flintknapper

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Could you explain how ignorant that statement is?

I don't know and don't really care much as I don't drive much being retired, although I do use my tractors...

Just seems like just about any company will play the market and do their best to maximize their profits, and not really care about the consumer. Simply the way the free market works...

Maybe that image misrepresented the actual facts. Don't know...

This is meant to be an economics question, NOT a political question.
I understand your question(s) and I believe you are earnest. I can't fully answer your questions without including certain 'causes' for the increase in pricing that have a 'political' aspect to them. So...I don't know how far the Mods will let that go before deciding it is against forum rules.
 

Flintknapper

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Flint…you’re the one out-of-touch. It’s common ploy for big oil to embarrass the party they don’t like: (I actually own Chevron stock and am still unhappy about this):
San Ramon, Calif., April 29, 2022 – Chevron Corporation (NYSE: CVX) today reported earnings of $6.3 billion ($3.22 per share - diluted) for first quarter 2022, compared with $1.4 billion ($0.72 per share - diluted) in first quarter 2021. Included in the current quarter were pension settlement costs of $66 million. Foreign currency effects decreased earnings by $218 million. Adjusted earnings of $6.5 billion ($3.36 per share - diluted) in first quarter 2022 compares to adjusted earnings of $1.7 billion ($0.90 per share - diluted) in first quarter 2021. Sales and other operating revenues in first quarter 2022 were $52 billion, compared to $31 billion in the year-ago period.
Out of touch....really?

OK, you want to argue this, let's set the stage for it.

My objection is to the assertion (posted) that:

"This isn't inflation, this is Greed and Gouging by Big Oil"

This infers there is no good reason for high fuel prices and profits by Oil Companies and that they and they alone are responsible for it.

That is what we will argue/discuss, not go off on a bunch of tangents (even though the subject is complicated).

So is that your position as well (Greed and Gouging)?
 

Flintknapper

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When it comes to profits, what is a reasonable amount? Is the profits that Microsoft makes reasonable? Is the profit that John Deere make reasonable? Is the profit Ford makes reasonable? Is the profit that BP makes reasonable?

While we are talking about reasonable, are the profits the States and Federal government make reasonable?

Not saying we don't need to discuss what is reasonable and what is gouging, but when doing so we need to look at all industries (oil, automotive, software, healthcare, pharmaceutical, etc.) and the government which is one of the big industries in our country. Once we talk about all them and come up with what is reasonable, we might be surprised who is really making the money and who is not.
^^^^^^

Exactly, and the reasons why there are price increases and profit margins to maintain.

Some are not as complicated as others. MANY influences come into play when discussing Crude Oil/Fuel/Energy costs and production.

The public is rightfully more sensitive and concerned about the rising costs of 'essentials' (Transportation, Food, Housing, Energy Costs, etc).

Non-essentials can be cut back on (luxuries, vacations, etc) though the average American is loathe to do so if not forced economically.

In a free market system 'profit' should not be a dirty word.

IF/When increased prices for goods and services stresses the average household, then it is well to look at the cause. I am 100% on board with that. But folks should not be too quick to point to companies being 'greedy or gouging' when in fact most are simply adjusting in order to survive.

Costs to do business will ALWAYS be passed on to the consumer, this is nothing new.
 
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Crash277

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I was sitting in a long lineup Thursday with my Harley, waiting to get gas at the cheapest place around.
I was cooking in the heat(ATGATT)...slight up-grade and the low fuel light came on. I finally pumped in $36.50 (17.5L) into an 18L tank. I was sweating(cooking in the heat) and sweating (fearful of running out of gas ) trying to push an 850lb bike up to the pump. The final sweat was the cost. Ouch !

I am sure your tractor will take more than $36.50 but it still hurt. I usually put in $18-$20 in the thing.

Friggin fuel cost is getting ridick !

been there.. wasnt fun... fuel light popped on while on the highway and there was only 1 gas station between me and being parked on the side of the road. 1/2 L of of gas in a CBR929 is not a lot of fuel lol.
 
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GeoHorn

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Flint, my point was that “inflation” is a scapegoat term for the simple result of “supply and demand”. The last two decades have left the average American with more money in his pocket than previously accustomed, the baby boomers are retiring with their recent inheritances and have reduced daily expenses since they’re no longer going-to-work and the pandemic of the last 3 years has idled many from ordinary activities of work, the internet-shopping experience has made the American Materialism run wild.
What is excessive profits? No such thing. It’s supply and demand. When lots of people have lots of money and lots of free time and lots of desire-and-means for materialism…that’s what’s going to happen…. and large corporations DO play the political game enthusiastically. We need to KILL CITIZENS UNITED.
 
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Flintknapper

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Flint, my point was that “inflation” is a scapegoat term for the simple result of “supply and demand”. The last two decades have left the average American with more money in his pocket than previously accustomed, the baby boomers are retiring with their recent inheritances and have reduced daily expenses since they’re no longer going-to-work and the pandemic of the last 3 years has idled many from ordinary activities of work, the internet-shopping experience has made the American Materialism run wild.
What is excessive profits? No such thing. It’s supply and demand. When lots of people have lots of money and lots of free time and lots of desire-and-means for materialism…that’s what’s going to happen…. and large corporations DO play the political game enthusiastically. We need to KILL CITIZENS UNITED.

Well.....'inflation' is indeed the label attributed to an imbalance of Supply and Demand. We have to call it something. And I don't disagree that term is often artificially separated from the former as if IT were a demon of its own making.

I would also agree that there are many sources contributing to inflation in any given time span. But in the last two years we have seen a sharp spike.

inflation.jpg


Normally inflation is just a general and fairly flat increase in the cost of goods and services and is easily weathered by most folks. But what we are seeing now (highest rate in 41 years) is something a bit different.

The sharp decline in the purchasing power of our dollar has reached a point where the average family is really feeling it. I would submit we are very much poised to see a recession.

I would hope this would cause people to THINK about the root causes of inflation, what wasn't avoidable and what WAS avoidable (or should have been).

Yes, we had a pandemic. But we also had a knee-jerk reaction to it which severely crippled this nations economy (and others) with ridiculous mandates. As a result of that....there is a global supply chain issue (Demand vs. Supply) as Nations begin to return to pre-pandemic norms.

Then we (U.S) had stimulus packages, which at first were probably appropriate to prevent a depression, but afterward did nothing but line the pockets of persons not really in need of it. You can't just print TRILLIONS of dollars, distribute it among the populace and not expect inflation once it starts to be spent.

Then we have fuel issues....a HUGE driver in the cost of transportation and goods in general. When you have an administration rabidly against the use and production of fossil fuels, making it more difficult at every turn, it forces the Oil Companies to protect their interests. This is common sense.

Crude Oil/Fuels are traded in 'Futures' (pricing for those products is decided on a future basis). When the 'future' looks to be uncertain (if not adverse) you can bet your butt prices will reflect that. Why in the world would an administration (anywhere) take an already crippled/limited oil/fuel situation and shoot it in the other foot!

We need to have competent people in important positions of our government and fewer idealogues.

And I couldn't agree more that Citizens United needs to go.
 
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GeoHorn

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.When you have an administration rabidly against the use and production of fossil fuels, making it more difficult at every turn, it forces the Oil Companies to protect their interests. This is common sense.

Crude Oil/Fuels are traded in 'Futures' (pricing for those products is decided on a future basis). When the 'future' looks to be uncertain (if not adverse) you can bet your butt prices will reflect that. Why in the world would an administration (anywhere) take an already crippled/limited oil/fuel situation and shoot it in the other foot!
….
What was the source of the chart you posted?

The present administration has not made a single DENT in oil production. In fact, the present administration has RELEASED ADDITONAL OIL from the Naval Reserves….so blaming this administration has no credibility on that basis. There is more oil being pumped today than in decades.
 
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jyoutz

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What was the source of the chart you posted?

The present administration has not made a single DENT in oil production. In fact, the present administration has RELEASED ADDITONAL OIL from the Naval Reserves….so blaming this administration has no credibility on that basis. There is more oil being pumped today than in decades.
Yep. Oil production is on track in 2022 to tie the record 2019 year, and set a new record in 2023. Read the report.