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Post by Legend Lover on Sept 13, 2022 9:10:00 GMT -5
Let them cuddle their pets! (Then eat them.) 🤣 That's one way. |
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Post by Ronv69 on Sept 13, 2022 10:39:50 GMT -5
We're hearing horror stories about the electricity prices over there. Can you burn peat? Aye, the prices are soaring. Places like bars and restaurants may struggle or even close. I was speaking to someone last week who owns a restaurant and their heating bills went up from £3000 per quarter to £9000 per quarter. As they can't up the cost of the food THAT significantly, they said they may have to close unless things change soon. I don't think that things can change soon. It's going to take years to develop more North Sea oil and gas and we're behind with our needs because of misplaced government priorities. Our electricity prices in Texas have doubled too. |
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Post by trailboss on Sept 13, 2022 10:47:47 GMT -5
Thinking about rolling my IRA into gold, I don’t need it for retirement, but I see 2008 on steroids rolling our way.
I certainly do not want a 54% cut.
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Post by Darin on Sept 13, 2022 12:24:43 GMT -5
Thinking about rolling my IRA into gold, I don’t need it for retirement, but I see 2008 on steroids rolling our way. I certainly do not want a 54% cut. Perhaps a "Money Market" type account ... around 3% annual with no risk. |
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Post by Ronv69 on Sept 13, 2022 12:28:39 GMT -5
Thinking about rolling my IRA into gold, I don’t need it for retirement, but I see 2008 on steroids rolling our way. I certainly do not want a 54% cut. Gold isn't performing as expected. Energy and utilities are doing well. I moved into oil and gold a couple of years ago. Also have a big stake in Ford. I am way ahead of the markets, talking 30+% ahead. Thinking of dumping the gold for more oil or utilities. Expect Ford to double in the next 2 years and oil going up 50%. If you go safe at 3%,you will be losing 5.5% from inflation. |
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Post by trailboss on Sept 13, 2022 12:32:19 GMT -5
I am meeting with my retirement planner next week, I will roll them suggestions to him.
Thanks!
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Post by Ronv69 on Sept 13, 2022 13:21:13 GMT -5
I am meeting with my retirement planner next week, I will roll them suggestions to him. Thanks! We talked to a planner before we retired. I picked his brain and never looked back. 😎 |
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Post by oldcajun123 on Sept 13, 2022 13:23:44 GMT -5
 One major rule about taking from your Stash, more than 6% a yr you’re gonna run out! I’m in oil, utilities, invest in food, people got to eat, major companies like Johnson and Johnson, think Clorox, every home has a jug, Common sense usually wind!
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Post by Ronv69 on Sept 13, 2022 13:34:35 GMT -5
One major rule about taking from your Stash, more than 6% a yr you’re gonna run out! I’m in oil, utilities, invest in food, people got to eat, major companies like Johnson and Johnson, think Clorox, every home has a jug, Common sense usually wind! This ^^^! |
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Post by Plainsman on Sept 13, 2022 13:55:18 GMT -5
Sold all my Putin stock.
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Post by sperrytops on Sept 13, 2022 17:04:38 GMT -5
Is this down to the lack of natural gas from Gazprom, or other issues? We don't get much of our gas from Russia, but we do get some. The war in Ukraine is being blamed for a lot of the rises. Cost of shopping has increased a lot, as has fuel, home heating oil, and electricity. There will be an 80% rise in October for domestic energy, but bars and restaurants don't have the same price cap that domestic residents have, so their price is shooting up a lot more. Even at that 80% rise is crazy, which means less disposable income for eating out...so if restaurants are spending maybe 3 times more on heating and electricity, and people can't afford to eat out at the CURRENT prices, they won't want to increase their prices, but they can't reduce their prices either - it's a catch 22. Despite this, some energy companies were reporting over 14 billion pound profits in the last QUARTER! One such company advised people to do star jumps or to cuddle their pets to keep warm! What's the saying? Let them eat cake. Marie Antoinette, I think. That's why I have no liking for energy companies. |
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Post by Ronv69 on Sept 13, 2022 18:26:21 GMT -5
We don't get much of our gas from Russia, but we do get some. The war in Ukraine is being blamed for a lot of the rises. Cost of shopping has increased a lot, as has fuel, home heating oil, and electricity. There will be an 80% rise in October for domestic energy, but bars and restaurants don't have the same price cap that domestic residents have, so their price is shooting up a lot more. Even at that 80% rise is crazy, which means less disposable income for eating out...so if restaurants are spending maybe 3 times more on heating and electricity, and people can't afford to eat out at the CURRENT prices, they won't want to increase their prices, but they can't reduce their prices either - it's a catch 22. Despite this, some energy companies were reporting over 14 billion pound profits in the last QUARTER! One such company advised people to do star jumps or to cuddle their pets to keep warm! What's the saying? Let them eat cake. Marie Antoinette, I think. That's why I have no liking for energy companies. Well, just don't do business with them. You live in the only place where you don't need AC or heat and you can meet all your needs with solar. Do you suggest that the rest of us just die? |
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Post by Plainsman on Sept 13, 2022 18:31:30 GMT -5
That would be a start.  |
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Post by trailboss on Sept 13, 2022 18:31:35 GMT -5
We should let the feds take over all of the energy companies like Venezuela did.
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Post by Ronv69 on Sept 13, 2022 18:33:46 GMT -5
That would be a start. That we should die? |
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Post by trailboss on Sept 13, 2022 18:54:54 GMT -5
I had a discussion with my cousin in Kansas last July, he had done some subcontract work at a big refinery....
"I was talking to a guy that manages the plant"...the manager said "you know all that product we are putting out and selling it at record prices, we aren't selling it for the price we paid for it" "we are getting ripped off....don't you believe that we should be paying them inflated prices!"
I asked him why he accepted a big profit on a home that he bought a scant 5 years ago.
Then I told him of the genius of Herb Keller of Southwest airlines years ago when he bought fuel on the futures market when oil prices hit rock bottom. All of the other airlines were paying market price when it spiked, Southwest airlines had people flocking to them for the cheaper fares.
None of us complain when a sudden drop in prices leave the oil companies having to fall in line, selling the product that they paid more for.
Oil is a commodity like anything else, and any corporation has a duty to their stockholders, they can't take it in the shorts when they don't have to.
I can't say that there are no examples of profiteering in any industry, and if it is going on, it should be dealt with...
We had energy independence and cheap fuel for decades into the future, but we took a wrecking ball to that.
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Post by Ronv69 on Sept 13, 2022 19:01:38 GMT -5
Nobody cares that the energy companies lost money for years, or about the huge investment and the extremely hard work of the many thousands of workers that produce the energy, with many risking their lives. Look around and find something that wasn't built with oil.
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Post by adui on Sept 13, 2022 20:03:49 GMT -5
Nobody cares that the energy companies lost money for years, or about the huge investment and the extremely hard work of the many thousands of workers that produce the energy, with many risking their lives. Look around and find something that wasn't built with oil. As always, it's a bit more complicated than just what's happening right now. That said, didn't those energy companies get kept afloat on the government dollar (Read our taxes)? |
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Post by oldcajun123 on Sept 13, 2022 20:06:29 GMT -5
Look at the taxes on a gallon of gas. People bitch about gas while driving new cars, new IPHONES, fancy fingernails, jazzy tennis shoes, eating out. No thought of financial responsibility. Nuff said!
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Post by trailboss on Sept 13, 2022 20:13:15 GMT -5
Not sure about the government bailout of the energy companies, but so many government ventures like Solyndra cost the taxpayer over a half billion dollars.
It was pretty much a laundering scheme from its inception.
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Post by Ronv69 on Sept 13, 2022 21:01:14 GMT -5
Nobody cares that the energy companies lost money for years, or about the huge investment and the extremely hard work of the many thousands of workers that produce the energy, with many risking their lives. Look around and find something that wasn't built with oil. As always, it's a bit more complicated than just what's happening right now. That said, didn't those energy companies get kept afloat on the government dollar (Read our taxes)? Maybe as a matter of national security, which is quickly becoming a waste of time. |
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Post by Ronv69 on Sept 13, 2022 21:02:11 GMT -5
As always, it's a bit more complicated than just what's happening right now. That said, didn't those energy companies get kept afloat on the government dollar (Read our taxes)? Maybe as a matter of national security, which is quickly becoming a waste of time. Where would you be without the energy companies? |
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Post by trailboss on Sept 13, 2022 21:40:02 GMT -5
I Googled oil company bailouts, and it appears that indeed in 2020 it was an issue. I admit that I was unaware of it.
I don’t think any company or industry deserves bailouts, just like the banks, bailing out companies prevents the market from making necessary corrections.
I have been in tough spots, never filed bankruptcy, never was bailed out.
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Post by sperrytops on Sept 14, 2022 11:39:22 GMT -5
In the United States, the federal government has paid US$145 billion for energy subsidies to support R&D for nuclear power ($85 billion) and fossil fuels ($60 billion) from 1950 to 2016. During this same timeframe, renewable energy technologies received a total of US $34 billion. I'd say it's time the taxpayers got dividends from the energy companies.
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Post by trailboss on Sept 14, 2022 12:45:04 GMT -5
“ In the United States, the federal government has paid US$145 billion for energy subsidies to support R&D for nuclear power ($85 billion)”
With the declining hydroelectric capacity, and the push for EV’s and hatred of fossil fuels, nuclear energy is the only answer in a sane world.
The mere proposal sets hair on fire, and even if it could be done, it would take 20 years for permits, studies, etc.
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Post by trailboss on Sept 14, 2022 13:33:07 GMT -5
Something I had not thought of, but I was talking to a lineman from our local utility. The typical residential neighborhood has nowhere near the ability to handle charging at homes if there is a big spike in EV sales, it will require upgrading the distribution systems.
I did read an article awhile back about the need to harden the grids across the United States, but there seems to be no appetite politically to do so. I remember at the time, it wasn’t that much money compared to what the congress critters spend on non essentials.
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Post by sperrytops on Sept 14, 2022 15:20:46 GMT -5
Cal passed a law banning gas vehicle sales by 2035. It acknowledges a significant increase in grid capacity is required to support this and they are laying out plans to meet the demand. How, I cannot say, but they have a few years to figure it out. And they will, people are smart.
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Post by Ronv69 on Sept 14, 2022 18:33:27 GMT -5
Cal passed a law banning gas vehicle sales by 2035. It acknowledges a significant increase in grid capacity is required to support this and they are laying out plans to meet the demand. How, I cannot say, but they have a few years to figure it out. And they will, people are smart. You do know that you have to drive an electric car 400,000 miles to break even on carbon emissions with a gasoline car, don't you? The rest of the country doesn't think of California as smart generally. My personal experience with LA denizens is that they are the absolute dumbest people I have ever met. With all the people moving to Texas we're the ones who have to build up the grid, while the load on the California grid will make it unnecessary. |
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Post by toshtego on Sept 14, 2022 19:55:20 GMT -5
Something I had not thought of, but I was talking to a lineman from our local utility. The typical residential neighborhood has nowhere near the ability to handle charging at homes if there is a big spike in EV sales, it will require upgrading the distribution systems. I did read an article awhile back about the need to harden the grids across the United States, but there seems to be no appetite politically to do so. I remember at the time, it wasn’t that much money compared to what the congress critters spend on non essentials. When I lived in LA and added 7 tons of AC in 1989, my electrician added the largest cables I have seen from the meter to the AC units. The pole transformer was a short run to the meter. The rest of the street would go brown when my AC kicked on. |
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Post by adui on Sept 14, 2022 20:23:31 GMT -5
I Googled oil company bailouts, and it appears that indeed in 2020 it was an issue. I admit that I was unaware of it. I don’t think any company or industry deserves bailouts, just like the banks, bailing out companies prevents the market from making necessary corrections. I have been in tough spots, never filed bankruptcy, never was bailed out. While I agree with you in principle; the world governments have sadly allowed us to become too dependent on certain industries, energy and banking being the biggest. If they collapse we see a depression that makes the great one look mild. |
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One major rule about taking from your Stash, more than 6% a yr you’re gonna run out! I’m in oil, utilities, invest in food, people got to eat, major companies like Johnson and Johnson, think Clorox, every home has a jug, Common sense usually wind!
