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What's driving the narrative about the price of oil right now? It's not like gas is $4/gal
Posted on 7/7/18 at 7:55 am
Posted on 7/7/18 at 7:55 am
So I see all the scare articles about $150 bbl oil, except at close yesterday oil was trading at $73/bbl. Although I'd like for gas to be $1/gal that just not realistic. $70ish is a reasonable price for oil. It's high enough for the frackers to make money, high enough for the Saudis to continue their hand outs, high enough to make a profit for the US to export, yet it's still low enough that it doesn't cost $100 for fill up your truck (or $25 for you low T cuck Prius drivers).
I drive an F250 (frick off climate changers) and it cost $58 to fill up. That's certainly not what I'd like to pay to full up but it's not going to break me or make me buy something cheaper to drive either.
Plus, this is the summer driving season with different blends and (supposedly) just costs more. Is this just another shite slinging at the wall in an effort to make Trump look bad? Are they anticipating losing Iran's exports in November and are just whipping us into a lather before then?
What's the deal with all the fuss?
I drive an F250 (frick off climate changers) and it cost $58 to fill up. That's certainly not what I'd like to pay to full up but it's not going to break me or make me buy something cheaper to drive either.
Plus, this is the summer driving season with different blends and (supposedly) just costs more. Is this just another shite slinging at the wall in an effort to make Trump look bad? Are they anticipating losing Iran's exports in November and are just whipping us into a lather before then?
What's the deal with all the fuss?
Posted on 7/7/18 at 7:57 am to bamarep
Didn't our last president tout high gas prices as a great thing?
Posted on 7/7/18 at 7:59 am to bamarep
quote:
What's the deal with all the fuss?
Mental retardation
Posted on 7/7/18 at 8:01 am to bamarep
So two downvotes this early in the topic, yet none of you leftist retards will answer my questions.
Posted on 7/7/18 at 8:01 am to bamarep
It’s California and New York.
They have close to $5 a gallon right now due to taxes and regulations, and they’re trying to blame trump.
Gas prices here are like $2.50. Nothing too bad.
They have close to $5 a gallon right now due to taxes and regulations, and they’re trying to blame trump.
Gas prices here are like $2.50. Nothing too bad.
Posted on 7/7/18 at 8:03 am to cokebottleag
quote:
Gas prices here are like $2.50.
That's about what I'm seeing.
Posted on 7/7/18 at 8:05 am to bamarep
3.95 here in SoCal
Damn you fricking moonbeam and your gas tax
Damn you fricking moonbeam and your gas tax
Posted on 7/7/18 at 8:05 am to bamarep
Because reality doesn't fit the perception the liberals want to sell you. The economy is doing well and they ABSOLUTELY HATE IT. "Skyrocketing" gas prices is their effort to discredit Trump.
While certainly gas prices could rise. As of yesterday the current average price was lower than any yearly average price from 09-15.
While certainly gas prices could rise. As of yesterday the current average price was lower than any yearly average price from 09-15.
Posted on 7/7/18 at 8:06 am to bamarep
An ideologically bankrupt Democratic Party.
Posted on 7/7/18 at 8:11 am to bamarep
quote:
and it cost $58 to fill up
That is pretty damn good. Must be cheap where you are. 2.89 or so here in Htown.
Posted on 7/7/18 at 8:12 am to bamarep
quote:
What's the deal with all the fuss?
Spin
Posted on 7/7/18 at 8:14 am to bamarep
Here in MD 87 is floating around $2.85-$3.00 and I havent noticed too many complaints.
From what I've read we have a ton a product coming out of the shale regions right now but there isn't enough pipeline capacity to meet demand. Causing railcars to pick up the slack getting the product to Mt. Belvieu which is the main culprit of the price increases.
Once some more pipeline capacity is built/opened up prices should come back down.
(Note im only in the propane industry so oil baws can correct me if Im wrong)
From what I've read we have a ton a product coming out of the shale regions right now but there isn't enough pipeline capacity to meet demand. Causing railcars to pick up the slack getting the product to Mt. Belvieu which is the main culprit of the price increases.
Once some more pipeline capacity is built/opened up prices should come back down.
(Note im only in the propane industry so oil baws can correct me if Im wrong)
Posted on 7/7/18 at 8:14 am to bamarep
People are dumb if they think the POTUS of the US can cause the price of oil to increase or decrease. That is controlled solely by OPEC.
Posted on 7/7/18 at 8:14 am to bamarep
Here is Rystad Energy’s list of production costs for the 20 largest oil-producing countries:
Kuwait – $8.50 a barrel
Saudi Arabia – $9.90
Iraq – $10.70
United Arab Emirates – $12.30
Iran – $12.60
Russia – $17.20
Algeria – $20.40
Venezuela – $23.50
Libya – $23.80
Kazakhstan – $27.80
Mexico – $29.10
China – $29.90
Nigeria – $31.60
Colombia – $35.30
Angola – $35.40
Norway – $36.10
United States – $36.20
Canada – $41.00
Brazil – $48.80
United Kingdom – $52.50
This was from mid-2015. Add about 12% to these numbers for an idea of 2018 costs to produce.
Share of imports from OPEC and Persian Gulf countries has declined, while the share of imports from Canada has increased.
U.S. petroleum imports rose sharply in the 1970s, especially from nations that comprise the Organization of the Petroleum Exporting Countries (OPEC). In 1977, when the United States exported relatively small amounts of petroleum, OPEC nations were the source of 70% of total U.S. petroleum imports. Since 1977, the share of total U.S. petroleum imports from OPEC has generally declined. In 2017, OPEC's share of total U.S. petroleum imports was about 33%. OPEC member Saudi Arabia was the largest source of U.S. petroleum imports from OPEC, about 9% of total U.S. petroleum imports.
In 2017, about 17% of U.S. petroleum imports came from Persian Gulf countries. Saudi Arabia was the largest source of U.S. imports from Persian Gulf countries.
Canada is the largest source of U.S. petroleum imports. Canada's share of U.S. petroleum imports has increased significantly. Canada was the source of 15% of U.S. petroleum imports in 1994 and 40% in 2017.
The five largest sources of U.S. petroleum imports by share of total imports in 2017 were
Canada—40%
Saudi Arabia—9%
Mexico—7%
Venezuela—7%
Iraq—6%
So as you can see, we’ve had a big shift from importing from countries with low production costs to high production costs.
And, we have added quite a few taxes and fees at the pump on top of this.
Kuwait – $8.50 a barrel
Saudi Arabia – $9.90
Iraq – $10.70
United Arab Emirates – $12.30
Iran – $12.60
Russia – $17.20
Algeria – $20.40
Venezuela – $23.50
Libya – $23.80
Kazakhstan – $27.80
Mexico – $29.10
China – $29.90
Nigeria – $31.60
Colombia – $35.30
Angola – $35.40
Norway – $36.10
United States – $36.20
Canada – $41.00
Brazil – $48.80
United Kingdom – $52.50
This was from mid-2015. Add about 12% to these numbers for an idea of 2018 costs to produce.
Share of imports from OPEC and Persian Gulf countries has declined, while the share of imports from Canada has increased.
U.S. petroleum imports rose sharply in the 1970s, especially from nations that comprise the Organization of the Petroleum Exporting Countries (OPEC). In 1977, when the United States exported relatively small amounts of petroleum, OPEC nations were the source of 70% of total U.S. petroleum imports. Since 1977, the share of total U.S. petroleum imports from OPEC has generally declined. In 2017, OPEC's share of total U.S. petroleum imports was about 33%. OPEC member Saudi Arabia was the largest source of U.S. petroleum imports from OPEC, about 9% of total U.S. petroleum imports.
In 2017, about 17% of U.S. petroleum imports came from Persian Gulf countries. Saudi Arabia was the largest source of U.S. imports from Persian Gulf countries.
Canada is the largest source of U.S. petroleum imports. Canada's share of U.S. petroleum imports has increased significantly. Canada was the source of 15% of U.S. petroleum imports in 1994 and 40% in 2017.
The five largest sources of U.S. petroleum imports by share of total imports in 2017 were
Canada—40%
Saudi Arabia—9%
Mexico—7%
Venezuela—7%
Iraq—6%
So as you can see, we’ve had a big shift from importing from countries with low production costs to high production costs.
And, we have added quite a few taxes and fees at the pump on top of this.
Posted on 7/7/18 at 8:18 am to j bro12
quote:
People are dumb if they think the POTUS of the US can cause the price of oil to increase or decrease.
Well, in all fairness the glorious orange mfer called up his baw Bin Salman the other day and asked for a solid. Salman agreed to produce another 2M bbl a day.
Posted on 7/7/18 at 8:24 am to bamarep
quote:
I drive an F250 (frick off climate changers) and it cost $58 to fill up.
the cost of fuel in your area is really cheap or you have a small tank for a large truck so you fill up much more often.
Posted on 7/7/18 at 8:27 am to BeefDawg
Just curious beef since you seem to know your shite. What is the US cost average?
Posted on 7/7/18 at 8:32 am to bamarep
quote:
Well, in all fairness the glorious orange mfer called up his baw Bin Salman the other day and asked for a solid. Salman agreed to produce another 2M bbl a day.
Yep, this is in direct retaliation to Trudeaux being a little bitch about trade and tariffs.
You won’t see us importing 40% from Canada anymore.
We are raising our own production and looking to buy from lower cost producers who are willing to make deals with us.
Posted on 7/7/18 at 8:34 am to BeefDawg
quote:
ou won’t see us importing 40% from Canada anymore
Like Venezuela, are we the only ones that can refine Canada's shitty crude?
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