Tariffs...what to make of them.

John the Plumber said:
It was just my 2 cents. Besides being a plumber have worker in Oil Refineries and Nuclear Power.
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Not arguing w/ u, just adding color, it’s an important distinction u brought up cuz if oil were to drop too low it wouldn’t pay to stand up new capacity. And to back up what someone else mentioned, brining new capacity online ain’t done with a snap of some fingers.
 
rjr44 said:
Not arguing w/ u, just adding color, it’s an important distinction u brought up cuz if oil were to drop too low it wouldn’t pay to stand up new capacity. And to back up what someone else mentioned, brining new capacity online ain’t done with a snap of some fingers.
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I was just agreeing with you. I do follow our energy policy. Down here in SJ they have closed Oyster Creek powerhouse and Beesleys Point power, so Atlantic City Electric is just a broker anymore, electrical bills just keep going up.
 
UtahJoe said:
What @Ian F mentioned... We produce tons of crude, but we export alot of it as it's harder to refine here... Its cheaper for us to import the lighter crude and refine that...
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My bad, you said use and I did production.

Checked in that with my AI overlords and while the split not as extreme as production, majority used is produced here. The overlords had a bit more trouble with this one, some context added on why that may be:
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Approximate Breakdown:

Domestically Produced Crude Oil Used: Around 8.875 million b/d (54% of refinery inputs, assuming 16.5 million b/d total).

Imported Crude Oil Used: Around 7.625 million b/d (46% of refinery inputs).

The difference between gross imports (6.478 million b/d) and net imports (2.420 million b/d) reflects exports, showing that some imported crude may be refined and re-exported as petroleum products.

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And to your point:

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However, refineries rely on a significant amount of imported crude oil (about 6.478 million b/d gross imports) because many are configured to process heavier crude grades that are less common in U.S. production, which tends to be lighter (e.g., from shale regions like the Permian Basin).
 
There price of oil is solely dependent on what people/companies are willing to pay.
There's is a futures market and a spot price.

When is the tariff applied?
Is it a barrier to buying? Does it steer towards one place (ie Russia?)

I like mine light and sweet
 
Unless I missed it, nobody's talking about the formula they used to come up with the so called "reciprocal" tariffs. It's almost childish.
www.factcheck.org

Trump's Misleading Tariff Chart - FactCheck.org

In his Rose Garden announcement of sweeping new "reciprocal tariffs," President Donald Trump held aloft a misleading chart that claimed to give a breakdown of the tariffs other countries charge the U.S. and the corresponding tariff that the U.S. will now impose against those countries.
www.factcheck.org www.factcheck.org
 
scott62 said:
Metal? You mean like the stuff trump just put tariffs on for the rest of the world? Trump, make Russia great again.
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rjr44 said:
Barrons, The Economist, Cramer ultra doomsday this weekend. VIX elevated. New 52 week lows spiking.

Put/call ratio too tame tho which gives me pause. And overall sentiment, while as negative as it’s been in a while, doesn’t feel like it’s at doomsday levels yet.

And if you believe in patterns, history not matching but rhyming, bla bla bla, this table suggests we’re closer to the bottom than not. Doesn’t mean we can’t go a bit lower first, but could be getting close. All it will take is some positive news around tariffs and that could be rocket fuel.

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You can’t use history to predict a bottom. I’d say we may be near a bottom OR bounce point around 4825. There is still no capitulation. Controlled selling is not blood in the streets. When EVERYTHING sells hard for 2-3 days that is capitulation I think it’s going to take a catalyst to change things. We may bottom but to go back to all time highs is going to take a removal of tariffs or cutting rates.
 
Dave Taylor said:
You can’t use history to predict a bottom. I’d say we may be near a bottom OR bounce point around 4825. There is still no capitulation. Controlled selling is not blood in the streets. When EVERYTHING sells hard for 2-3 days that is capitulation I think it’s going to take a catalyst to change things. We may bottom but to go back to all time highs is going to take a removal of tariffs or cutting rates.
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You do realize we’re basically saying the same thing right?
 
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These tariffs WILL rase prices by more than the majority of the country can pay. The market has lost more than 6 trillion dollars since trump took power and as the feed back loop gets rolling it’s going to loose a lot more. Prices are going to skyrocket, work places are going to close, people will loose jobs and spend even less…and it’s just going to accelerate….
 
The anti science thing is one of the worst that these STONE COLD IDIOTS bring to the table. Three kids dead of measles, because stupid people "Do their own research."

Am I calling you stupid? No, but let me know if you want to play five minute chess for $88 a game.

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