Will the have crop insurance? Last years bill still outstanding?
MONETTE FARMS land parcels for sale
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FWIW - California, likely the largest consumer of oil in the states, imports about 60% of its crude needs from offshore - primarily the Middle East. And 25% of its gasoline and 20% of its jet fuel needs.Originally posted by foragefarmer View Post
What's causing USA fuel prices to increase by 40% since the Trump's failed bombing mission on Iran?
The USA has plenty of it's own oil, and only imports from Canada because of their refineries, no Middle East oil required, so why would the global price surge have an effect on the USA pump prices.
Why isn't there price mitgation for the USA citizens?
I've heard this idea of "price mitigation" for Canada (since we pull out more crude than we need) and now for the US. The question is - if a "domestic price" is going to be set for us, divorced from the global market, what's the price?
Not to change the subject, but I've heard a similar argument about crush margins, now that they are over $300/tonne. Some are suggesting that they should "share" these revenues with farmers, I guess by paying more for seed? So again, if we're gonna start setting artificial prices, what's the price? And who gets to set them?
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I don’t think you can have local price controls in a global commodity market. Buyers set the price.for example, people blame oil companies when prices are high (like now obviously) but they are just selling to willing buyers who are the ones bidding on and setting the prices. Restricted supply, obviously price goes up. These companies have multiple floors of people in the Marketing and Trading departments. They take the hit too when prices are low and below cost of production. Just the way it is.
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