Gas and diesel rise to 2.99 in Louisville,Ky....

Eddies66 · 03-14-2021, 09:43 AM

Was reading an article that the recent rise in oil prices is not because of a shortage of oil but debt and their obligation to their shareholders. The article reads: “Banks are preparing for a wave of oil bankruptcies by setting up their own oil companies to operate seized assets. Regulators in Texas are considering setting limits on the state’s production, an approach more reminiscent of Soviet-style central planning than a Republican-controlled regulatory body. An oil company executive just admitted, ″No one wants to give us capital because we have all destroyed capital and created economic waste.”

Not my opinion just a point of interest, I am looking $3.50 to $4.00 here in SoCal. But I am not driving like I did in Nevada, going 45 miles for a loaf of bread.

03-14-2021, 09:43 AM	#7
Eddies66 VIP Member Join Date: Feb 2010 Location: Rancho Mirage, CA Posts: 1,308 Likes: 300 Liked 881 Times in 452 Posts	Re: Gas and diesel rise to 2.99 in Louisville,Ky.... Was reading an article that the recent rise in oil prices is not because of a shortage of oil but debt and their obligation to their shareholders. The article reads: “Banks are preparing for a wave of oil bankruptcies by setting up their own oil companies to operate seized assets. Regulators in Texas are considering setting limits on the state’s production, an approach more reminiscent of Soviet-style central planning than a Republican-controlled regulatory body. An oil company executive just admitted, ″No one wants to give us capital because we have all destroyed capital and created economic waste.” Not my opinion just a point of interest, I am looking $3.50 to $4.00 here in SoCal. But I am not driving like I did in Nevada, going 45 miles for a loaf of bread.