What's driving the narrative about the price of oil right now? It's not like gas is $4/gal

Didn't our last president tout high gas prices as a great thing?

So two downvotes this early in the topic, yet none of you leftist retards will answer my questions.

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Gas prices here are like $2.50.

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That's about what I'm seeing.

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.

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and it cost $58 to fill up

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That is pretty damn good. Must be cheap where you are. 2.89 or so here in Htown.

Fake news

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)

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.

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I drive an F250 (frick off climate changers) and it cost $58 to fill up.

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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.

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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.

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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.