jerseygirl
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Post by jerseygirl on Mar 4, 2022 23:07:06 GMT -5
Remember the administration has vowed to stop production of gas and oil and transfer energy production to wind and solar. So gas for cars and heat and oil for heat will be increasing - a lot. In NY already trying to eliminate use of gas and oil in new houses by replacing with electric. And increasing gas prices to ‘encourage’ purchase of electric cars. There isn't an endless supply of oil. It's smart to plan ahead and diversify sources of energy. I agree plan ahead and diversify but the plan is to stop production of oil and gas. Even when the US has a huge amount available. But amounts of oil will decrease according to environmental law changes and if less is available then whatever is available will cost more .
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Opti
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Post by Opti on Mar 4, 2022 23:18:33 GMT -5
Remember the administration has vowed to stop production of gas and oil and transfer energy production to wind and solar. So gas for cars and heat and oil for heat will be increasing - a lot. In NY already trying to eliminate use of gas and oil in new houses by replacing with electric. And increasing gas prices to ‘encourage’ purchase of electric cars. Do you have a link for that? Some gas price increases are taxes. Some taxes are temporary, and some are longer lived. I know in NJ, some of the gas tax funds infrastructure repairs on roads and bridges. I need to learn more about electric cars. I was shocked, and I guess I didn't think about it much, that electric chargers for electric cars charge different rates. So, you will keep paying, it just will be different.
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jerseygirl
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Post by jerseygirl on Mar 4, 2022 23:36:18 GMT -5
Remember the administration has vowed to stop production of gas and oil and transfer energy production to wind and solar. So gas for cars and heat and oil for heat will be increasing - a lot. In NY already trying to eliminate use of gas and oil in new houses by replacing with electric. And increasing gas prices to ‘encourage’ purchase of electric cars. Do you have a link for that? Some gas price increases are taxes. Some taxes are temporary, and some are longer lived. I know in NJ, some of the gas tax funds infrastructure repairs on roads and bridges. I need to learn more about electric cars. I was shocked, and I guess I didn't think about it much, that electric chargers for electric cars charge different rates. So, you will keep paying, it just will be different. A link for oil and gas prices increasing? Yes oil and gas production is planned to be cut , if production is cut there’s less and it will cost more. Surely this is well known by now!! www.npr.org/2021/11/26/1059398764/biden-calls-for-higher-fees-for-oil-gas-leasing-on-federal-land-stops-short-of-bI have a Tesla and a charger at home with a 240 line. Charging costs me about $10/month. I have an S model and get free charging at Tesla superchargers. I usually use a supercharger that’s in the mall where I grocery shop. So plug into the SC and when I get out of grocery store car is fully charged for free . So I can either charge at home around $10/month but now that Superchargers are convenient for me it’s free
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Opti
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Post by Opti on Mar 4, 2022 23:58:39 GMT -5
Do you have a link for that? Some gas price increases are taxes. Some taxes are temporary, and some are longer lived. I know in NJ, some of the gas tax funds infrastructure repairs on roads and bridges. I need to learn more about electric cars. I was shocked, and I guess I didn't think about it much, that electric chargers for electric cars charge different rates. So, you will keep paying, it just will be different. A link for oil and gas prices increasing? Yes oil and gas production is planned to be cut , if production is cut there’s less and it will cost more. Surely this is well known by now!! www.npr.org/2021/11/26/1059398764/biden-calls-for-higher-fees-for-oil-gas-leasing-on-federal-land-stops-short-of-bI have a Tesla and a charger at home with a 240 line. Charging costs me about $10/month. I have an S model and get free charging at Tesla superchargers. I usually use a supercharger that’s in the mall where I grocery shop. So plug into the SC and when I get out of grocery store car is fully charged for free . So I can either charge at home around $10/month but now that Superchargers are convenient for me it’s free We aren't Venezula. Should we really be funding private enterprise with cheap rates on public land? From your link- The report recommends hiking federal royalty rates for oil and gas drilling, which have not been raised for 100 years. The federal rate of 12.5% that developers must pay to drill on public lands is significantly lower than many states and private landowners charge for drilling leases on state or private lands.
Biden on Tuesday ordered a record 50 million barrels of oil released from America's strategic reserve, aiming to bring down gas prices amid concerns about inflation. Gasoline prices are at about $3.40 a gallon, more than 50% higher than a year ago, according to the American Automobile Association.
W knew that oil and gas wouldn't last forever, as does pretty much anyone. He started a fairly large govt program back when he was President. I'm confused as to why you seem to be promoting a pro gas stance, when you are currently paying $10 a month! to drive your car. I drive very little, under 5000 miles yearly. I averaged closer to $80/mo for gas. I'm underfunded, I'm not sure there is any gas only powered car that would let me drive for $10/mo. I ended up renting a Versa locally when my car was out longer for repairs than expected. I was grateful for the reduced cost, but even with that car (and that horrible seat) I still would have been at $30 to $40 of gas per month. I think I've already shared this, but one of the doctors who has a Tesla was urging me to think of getting one. He pointed out I could drop a line out my window and charge the Tesla if need be. I need better hourly pay than what I was getting in order to even think of picking up a low-end used Tesla. Sadly, electric cars are just another example of how our consumer society often rewards those of means over the bulk of the working people.
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nidena
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Post by nidena on Mar 5, 2022 0:04:10 GMT -5
According to this blog, 70% of gas prices are set by the price of oil.The price of gasoline is made up of four factors: taxes, distribution and marketing, the cost of refining, and crude oil prices. Of these four factors, the price of crude oil accounts for nearly 70% of the price you pay at the pump, so when they fluctuate (as they often do), we see the effects. Crude oil prices change depending on the supply available in the market, and the demand for that supply.Thankfully, there are far more charging stations across the country than there used to be (obviously, an increase in EV creates a need for an increase in stations) but they're not advertised very well, if at all, on highway signs so you'd need a website resource like this one to find them.
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jerseygirl
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Post by jerseygirl on Mar 5, 2022 0:10:53 GMT -5
A pro gas stance?? I’m worried about people being able to pay for gas for their cars and heat and cooking and oil heat!! Yes I have a Tesla but these are luxury cars not for most folks. Gradually more companies will be making more lower priced EVs. But not available really now.
So Biden tried to mostly ban drilling on federal land but courts wouldn’t go along with ban (some states get a lot of income from this drilling e.g. Arizona ) Venezuela is a big economic disaster since it’s corrupt government took over private oil companies and destroyed their businesses and no oil to sell
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teen persuasion
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Post by teen persuasion on Mar 5, 2022 9:19:58 GMT -5
Gas is up another $.10 today (didn't look yesterday). That's $.40 since Wednesday, to $4.19/gal.
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TheOtherMe
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Post by TheOtherMe on Mar 5, 2022 9:38:27 GMT -5
As long as the Ukrainian war continues, gas prices will not go down.
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Tiny
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Post by Tiny on Mar 5, 2022 14:13:10 GMT -5
There isn't an endless supply of oil. It's smart to plan ahead and diversify sources of energy. I agree plan ahead and diversify but the plan is to stop production of oil and gas. Even when the US has a huge amount available. But amounts of oil will decrease according to environmental law changes and if less is available then whatever is available will cost more . huh. A quick google of "When does the US plan to stop oil production" returned this (not exactly what I was asking but interesting non the less): I wasn't sure what an "Oil Reserve" actual was so another Google came back with this: Maybe it's not a bad plan to get some of our energy needs met by renewable sources.... I'm guessing the future price of oil/gas could fluctuate madly - if we have to rely on more imported oil.... (hey! wasn't that the reason for the gas shortages in the 70's ?)
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Tiny
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Post by Tiny on Mar 5, 2022 14:35:02 GMT -5
Remember the administration has vowed to stop production of gas and oil and transfer energy production to wind and solar. So gas for cars and heat and oil for heat will be increasing - a lot. In NY already trying to eliminate use of gas and oil in new houses by replacing with electric. And increasing gas prices to ‘encourage’ purchase of electric cars. Ok, this made me laugh.... an altruistic government that increases costs on something that is a major revenue generator IN ORDER to help make that major revenue generating thing going away... The Federal, State and local government Tax gasoline sales as a way to create revenue.... many local governments across the US rely on this "guaranteed" revenue. I'm guessing State governments like the income too. Nearly EVERY adult America needs to buy gas for their vehicle. IF raising or adding a tax to gasoline requires voter approval it's typically easier to get voters to agree to this (it's just a .25 of a penny per gallon! that's hardly anything at all) than to try to raise property taxes or other sales taxes. I highly DOUBT the Federal government (or any local Government) wants the tax revenue from gasoline sales to go away... I like that you say you have a Tesla and imply that it's mostly wealthy people that can afford one... that leaves the 'poor' people to continue having to pay for gas (and to keep paying those taxes on it....) Sounds like a win-win for wealthy people - they have yet another tax they do not need to pay - while the middle class and poor keep paying for the government that tends to do things that benefit's the rich.... love it... I'm happy you've transferred some of your tax burden to people having to still buy gas...
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Value Buy
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Post by Value Buy on Mar 5, 2022 14:46:52 GMT -5
Remember the administration has vowed to stop production of gas and oil and transfer energy production to wind and solar. So gas for cars and heat and oil for heat will be increasing - a lot. In NY already trying to eliminate use of gas and oil in new houses by replacing with electric. And increasing gas prices to ‘encourage’ purchase of electric cars. There isn't an endless supply of oil. It's smart to plan ahead and diversify sources of energy. Back in the late 60's I was doing a paper for school on the future of the oil industry in the U.S. They calculated America would be out of oil in the oil fields by the year 2000.
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Value Buy
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Post by Value Buy on Mar 5, 2022 14:56:24 GMT -5
According to this blog, 70% of gas prices are set by the price of oil.The price of gasoline is made up of four factors: taxes, distribution and marketing, the cost of refining, and crude oil prices. Of these four factors, the price of crude oil accounts for nearly 70% of the price you pay at the pump, so when they fluctuate (as they often do), we see the effects. Crude oil prices change depending on the supply available in the market, and the demand for that supply.Thankfully, there are far more charging stations across the country than there used to be (obviously, an increase in EV creates a need for an increase in stations) but they're not advertised very well, if at all, on highway signs so you'd need a website resource like this one to find them. Watch the commodity price for a gallon of refined gasoline at NY Harbor. About $3.54 a gallon for the month of April delivery. Now depending on state Federal and local taxes add anywhere between $.70 and $1.00 to that and you have an approximate retail price you will pay. This should include profit margin numbers for the station as well as the distributors. I am not sure about gasoline retail pricing west of the Mississippi, but usually the mountain states and west coast trended higher prices than midwest and southeast coastal areas. For the state of Indiana and Florida it has worked out to about $.75 a gallon in the past, BUT now with everything that is going on I do not know if the amount will be the same from here on out. I do know Pennsylvania has a much higher retail rate than we do as I was shocked traveling theough that state the last few years.
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jerseygirl
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Post by jerseygirl on Mar 5, 2022 15:12:53 GMT -5
Tiny, Do you read or listen to news ? Major democratic platform is to transition away from fossil fuels to wind solar . From the first day in office there has been a push to shut down production of gas and oil in the US www.bostonglobe.com/2022/02/22/nation/biden-halts-oil-gas-leases-amid-legal-fight-climate-cost/?outputType=ampAlso applications for LNG liquified natural ga terminals have not been signed for about a year. So US limited in shipping LNG to Europe . The decreased production of US oil and gas is planned as a featured objective by this administration and their voters. Part of the transition to solar wind etc The production of electric vehicles is also part of the Build Back Better bill. What do you disagree with that the shortages or decrease in oil and gas production is planned? When decreases in oil and gas occur the costs will increase Probably electricity costs will also increase since at present solar and wind are less efficient in producing electricity Do you disagree that these changes are planned?
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Post by Tiny on Mar 5, 2022 15:17:06 GMT -5
There isn't an endless supply of oil. It's smart to plan ahead and diversify sources of energy. Back in the late 60's I was doing a paper for school on the future of the oil industry in the U.S. They calculated America would be out of oil in the oil fields by the year 2000. Probably was a good thing the push for more gas efficient cars happened in the 70's...
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pulmonarymd
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Post by pulmonarymd on Mar 5, 2022 15:26:58 GMT -5
Tiny, Do you read or listen to news ? Major democratic platform is to transition away from fossil fuels to wind solar . From the first day in office there has been a push to shut down production of gas and oil in the US www.bostonglobe.com/2022/02/22/nation/biden-halts-oil-gas-leases-amid-legal-fight-climate-cost/?outputType=ampAlso applications for LNG liquified natural ga terminals have not been signed for about a year. So US limited in shipping LNG to Europe . The decreased production of US oil and gas is planned as a featured objective by this administration and their voters. Part of the transition to solar wind etc The production of electric vehicles is also part of the Build Back Better bill. What do you disagree with that the shortages or decrease in oil and gas production is planned? When decreases in oil and gas occur the costs will increase Probably electricity costs will also increase since at present solar and wind are less efficient in producing electricity Do you disagree that these changes are planned? If you have a finite resource, why is it wrong to decrease the rate of use so it lasts longer? Whenever we run out of our supplies, we will be at the mercy of foreign production. So slowing our use makes sense. In addition, the health effects of the pollution caused by burning fossil fuels are significant, and are not priced into their costs. Add in the environmental costs, and it again makes sense to find other energy sources. Planning for a world without fossil fuels is what we should be doing. Better than getting to where we cannot reliably count on them and having no alternative. I am having a hard time why you think the democratic plan is a problem. It’s not like they are outlawing their burning tomorrow. And recent events show that getting away from their use is a good idea
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Opti
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Post by Opti on Mar 5, 2022 15:38:51 GMT -5
Car manufacturers have been going to alternate fuels or hybrid cars to meet mileage requirements. Found the article I read in Motor Trend recently. Given the timeline below, it does not feel like whatever the Dems are doing is changing what Ford & GM plan at this time. Couldn't copy the nice graphic, but its at the link for those who prefer visuals. www.motortrend.com/features/ev-carbon-neutral-accountability-index/When exactly will the automotive industry officially say goodbye to gas- and diesel-powered engines or reach carbon neutrality? It's hard to say, as only some brands have formally committed to a timeline for achieving one or both of these goals. It's not just the auto industry that understands the importance of going carbon neutral; it's just about every major industry as evidenced by some of the major non-automotive players included in the timeline below.2008 | Tesla enters the market as an all-electric automaker.
2022 | Lucid enters the market as an all-electric automaker.
2022 | Rivian enters the market as an all-electric automaker.
2022 | With 2021 marking the Polestar 1 PHEV's final model year, Polestar emerges as a brand committed to strictly building electric vehicles.
2025 | Jaguar becomes an all-electric brand.
2027 | Alfa Romeo intends to sell only electric vehicles in China, Europe, and the United States.
2030 | Fiat begins strictly building and selling electric vehicles.
... 2040 | General Motors aims for its global products and operations to be carbon neutral.
2040 | Amazon aims for total carbon neutrality.
2050 | Ford, Honda, Mazda, Mitsubishi Motors, Nissan, Subaru, Toyota, and the Volkswagen Group become carbon neutral.
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jerseygirl
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Post by jerseygirl on Mar 5, 2022 16:01:37 GMT -5
Tiny, Do you read or listen to news ? Major democratic platform is to transition away from fossil fuels to wind solar . From the first day in office there has been a push to shut down production of gas and oil in the US www.bostonglobe.com/2022/02/22/nation/biden-halts-oil-gas-leases-amid-legal-fight-climate-cost/?outputType=ampAlso applications for LNG liquified natural ga terminals have not been signed for about a year. So US limited in shipping LNG to Europe . The decreased production of US oil and gas is planned as a featured objective by this administration and their voters. Part of the transition to solar wind etc The production of electric vehicles is also part of the Build Back Better bill. What do you disagree with that the shortages or decrease in oil and gas production is planned? When decreases in oil and gas occur the costs will increase Probably electricity costs will also increase since at present solar and wind are less efficient in producing electricity Do you disagree that these changes are planned? If you have a finite resource, why is it wrong to decrease the rate of use so it lasts longer? Whenever we run out of our supplies, we will be at the mercy of foreign production. So slowing our use makes sense. In addition, the health effects of the pollution caused by burning fossil fuels are significant, and are not priced into their costs. Add in the environmental costs, and it again makes sense to find other energy sources. Planning for a world without fossil fuels is what we should be doing. Better than getting to where we cannot reliably count on them and having no alternative. I am having a hard time why you think the democratic plan is a problem. It’s not like they are outlawing their burning tomorrow. And recent events show that getting away from their use is a good idea It’s not a problem BUT folks don’t seem to realize that their gas and oil and probably electric bills will keep increasing
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pulmonarymd
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Post by pulmonarymd on Mar 5, 2022 16:10:37 GMT -5
If you have a finite resource, why is it wrong to decrease the rate of use so it lasts longer? Whenever we run out of our supplies, we will be at the mercy of foreign production. So slowing our use makes sense. In addition, the health effects of the pollution caused by burning fossil fuels are significant, and are not priced into their costs. Add in the environmental costs, and it again makes sense to find other energy sources. Planning for a world without fossil fuels is what we should be doing. Better than getting to where we cannot reliably count on them and having no alternative. I am having a hard time why you think the democratic plan is a problem. It’s not like they are outlawing their burning tomorrow. And recent events show that getting away from their use is a good idea It’s not a problem BUT folks don’t seem to realize that their gas and oil and probably electric bills will keep increasing Prices have been well below the prior peak for quite some time. They need to be higher to discourage our dependence on them and to lead to our energy future
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TheOtherMe
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Post by TheOtherMe on Mar 5, 2022 16:15:59 GMT -5
Received my natural gas bill today. Over 1/3 of it is the Polar Vortex surcharge.
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jerseygirl
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Post by jerseygirl on Mar 5, 2022 16:32:15 GMT -5
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MN-Investor
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Post by MN-Investor on Mar 5, 2022 16:48:05 GMT -5
Inflation is not the only problem right now. The DOW is down 9% from its 52-week high. For anyone relying on selling stock for current expenses, that can be an issue. As for me, my expenses are modest and I'm not in a position of having to sell investments right now. I did a calculation this morning and my investments are down 7% from the end of August. We had a 14% mortgage when we bought our house in 1980, so I have an appreciation of what inflation can truly be and I feel sorry for everyone having to deal with it now.
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pulmonarymd
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Post by pulmonarymd on Mar 5, 2022 16:56:48 GMT -5
Food prices will likely go higher. Feel user is is short supply now. Fertilizer is made in part from fossil fuel. Should we just let Russia do what it wants in Ukraine to keep inflation down?
ETA: 600k jobs added. Unemployment is now at 3.8%. Economy still seems to be doing well
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Lizard Queen
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Post by Lizard Queen on Mar 5, 2022 20:16:05 GMT -5
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TheOtherMe
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Post by TheOtherMe on Mar 5, 2022 21:38:16 GMT -5
We had a 14% mortgage when we bought our house in 1980, so I have an appreciation of what inflation can truly be and I feel sorry for everyone having to deal with it now.
I think my highest mortgage rate was 15% and back then there was a huge prepayment penalty. When I sold the place we had to do some creative financial arrangements. I did like getting 18% interest on my savings account back then because I didn't spend nearly as much as I made.
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NastyWoman
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Post by NastyWoman on Mar 5, 2022 22:56:17 GMT -5
Received my natural gas bill today. Over 1/3 of it is the Polar Vortex surcharge. At the risk of sounding stupid, what is a Polar Vortex surcharge? Is that a charge on top of the increased usage many people will have had due to the extreme cold?
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Post by tskeeter on Mar 6, 2022 2:01:17 GMT -5
There isn't an endless supply of oil. It's smart to plan ahead and diversify sources of energy. I agree plan ahead and diversify but the plan is to stop production of oil and gas. Even when the US has a huge amount available. But amounts of oil will decrease according to environmental law changes and if less is available then whatever is available will cost more . Ain’t gonna work. At least in the short and intermediate term. The US doesn’t have enough electricity generating capacity to supply a massive shift from petroleum to electricity. My brother spent the last 40 years as an electrical engineer in the power industry, building power plants, power lines, switching stations, and windmills. He told me that power companies plan for about 1% annual growth in electric consumption. So, I’d expect that nationwide we have between 5% and 10% in excess power generating capacity. If we went to 100% electric for transportation, home heating, commercial heating, and replaced all the petroleum fired boilers used in manufacturing, how much more electricity would we need to generate? 400% more than we can generate today? 500%? 1,000%? It would take decades to build the electric generation and distribution capacity to support a wholesale shift from petroleum/fossil fuels to electric power. Talking about eliminating the use of petroleum by something like 2035 makes for a good sound bite, but it’s not even remotely practical.
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Post by daisylu on Mar 6, 2022 8:05:10 GMT -5
I was shocked when I saw gas at $3.79 this morning. Wednesday evening I paid $3.39. And by Saturday morning it was $4.09
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Post by Deleted on Mar 6, 2022 8:08:00 GMT -5
I think my highest mortgage rate was 15% and back then there was a huge prepayment penalty. When I sold the place we had to do some creative financial arrangements. I did like getting 18% interest on my savings account back then because I didn't spend nearly as much as I made. My Ex had bought a condo just before I met him. His credit rating was pretty dismal and he had an ARM starting at 16.5%. It decreased by a percentage point each of the next 2 years as interest rates decreased and then we bought a house with a fixed-rate mortgage at a lower rate. I'm sure his bank was sad to see that mortgage go. I wish I'd been able to benefit from the high money market rates. Every time I had a few thousand $$ there would be something the Ex HAD to have and he never had any money so I'd pay for it to keep the peace. Yeah, I was young and stupid then.
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TheOtherMe
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Post by TheOtherMe on Mar 6, 2022 8:55:02 GMT -5
Received my natural gas bill today. Over 1/3 of it is the Polar Vortex surcharge. At the risk of sounding stupid, what is a Polar Vortex surcharge? Is that a charge on top of the increased usage many people will have had due to the extreme cold? This is paying for what happened in Texas last year. It is based on my usage, but I was not hurt by the Polar Vortex in Texas last year but I am paying for it. The line item on the bill is Polar Vortex surcharge.
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TheOtherMe
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Post by TheOtherMe on Mar 6, 2022 8:58:41 GMT -5
I think my highest mortgage rate was 15% and back then there was a huge prepayment penalty. When I sold the place we had to do some creative financial arrangements. I did like getting 18% interest on my savings account back then because I didn't spend nearly as much as I made. My Ex had bought a condo just before I met him. His credit rating was pretty dismal and he had an ARM starting at 16.5%. It decreased by a percentage point each of the next 2 years as interest rates decreased and then we bought a house with a fixed-rate mortgage at a lower rate. I'm sure his bank was sad to see that mortgage go. My credit was fine. The interest rate would have been higher if I had had bad credit. There was nothing in the mortgage to decrease the rate. Colorado did pass a law stopping those prepayment penalties. The next highest rate I paid was 12%. See why people kept refinancing and there is a lot of money for the banks in refis.
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