Gas prices

[Julian]

OPEC has agreed to increase production....

Now all we need is the US oil companies to do likewise. They have massive untapped fields (including the largest ever find....still not tapped 4? years later or is it 6?). One find that alone can supply the entire US for a year.

 

[BigN8]

I for one would rather slurp from everyone else’s milkshake before I slurp on mine. Just sayin.

 

[Brad460]

OPEC has agreed to increase production....

Now all we need is the US oil companies to do likewise. They have massive untapped fields (including the largest ever find....still not tapped 4? years later or is it 6?). One find that alone can supply the entire US for a year.

The three main oil and gas fields in the US are the Permian, Bakken and Marcellus. Right now the most active (from new well, equip side) is the Permian (Odessa/Midland/Pecos)- The Bakken is still very active..was just out there last week- Was working on a project that uses flare gas as fuel for nat gas engine generators that power Bitcoin miners..

For example in the Marcellus you have companies adding some new nat gas compressor stations, but are spending millions to run power to site to appease the greenies so they are capable of using electric compressors. They never will actually use electric compressors because we all know the carbon released to create electricity to power electric compressors is worse than just running nat gas compressors..

In the climate change world it’s all about image, or transferring those emissions elsewhere (CA is best at that)..CA is the biggest consumers of fossil fuels, but claim to be so green- it’s just that they pillage other states / countries to provide that energy. Meanwhile pretending to be so green..

 

[Bruce]

A year ago US gas stations were selling 9.16M barrels of gasoline for $1.165B per day. Now that is 8.88M barrels for $1.725B per day. We are consuming less yet oil companies are charging us $560M more per day.

This Week In Petroleum Gasoline Section - U.S. Energy Information Administration (EIA)

Gasoline Production, Imports, Stocks, Supply, Prices by Grade and Sales Type, Retail City Average Prices, Data and Analysis from the Energy Information Administration.

www.eia.gov

 

[FSH 210 Sport]

The three main oil and gas fields in the US are the Permian, Bakken and Marcellus. Right now the most active (from new well, equip side) is the Permian (Odessa/Midland/Pecos)- The Bakken is still very active..was just out there last week- Was working on a project that uses flare gas as fuel for nat gas engine generators that power Bitcoin miners..

For example in the Marcellus you have companies adding some new nat gas compressor stations, but are spending millions to run power to site to appease the greenies so they are capable of using electric compressors. They never will actually use electric compressors because we all know the carbon released to create electricity to power electric compressors is worse than just running nat gas compressors..

In the climate change world it’s all about image, or transferring those emissions elsewhere (CA is best at that)..CA is the biggest consumers of fossil fuels, but claim to be so green- it’s just that they pillage other states / countries to provide that energy. Meanwhile pretending to be so green..

Spot on.

 

[Ronnie]

Sunday morning on the edge of Silicon Valley in Tracy, CA.

 

[Bruce]

Hey Bruce, are you ever wrong?? I’ve never seen a know it all that throws up as much charts and graphs as you?

Interpreting data, often forensic analysis, is my day job. I often form theories that later prove to be incorrect. That is part of the process of finding the truth. So yes, I tend to be wrong early in the process but strive to never be wrong in a final opinion.

Inflation is way up now. My guess is that that is the result of larger government handouts in 202 and smaller government handouts in 2021 allowing for increased purchasing of goods and materials depleting inventories combined with rapid economic growth and profiteering to send prices through the roof. Still current inflation is far lower than the double digits experienced around WWI, WWII, the 1970s and early 80s. https://www.minneapolisfed.org/abou...flation-calculator/consumer-price-index-1913-

Energy is the sector with the highest rate of inflation increasing overall inflation but also driving up costs of everything else. Much of those price increases are profits for the oil companies.

 

[Brad460]

Interpreting data, often forensic analysis, is my day job. I often form theories that later prove to be incorrect. That is part of the process of finding the truth. So yes, I tend to be wrong early in the process but strive to never be wrong in a final opinion.

Inflation is way up now. My guess is that that is the result of larger government handouts in 2020 and smaller government handouts in 2020 allowing for increased purchasing of goods and materials depleting inventories combined with rapid economic growth and profiteering to send prices through the roof. Still current inflation is far lower than the double digits experienced around WWI, WWII, the 1970s and early 80s. https://www.minneapolisfed.org/abou...flation-calculator/consumer-price-index-1913-

Energy is the sector with the highest rate of inflation increasing overall inflation but also driving up costs of everything else. Much of those price increases are profits for the oil companies.

I see you left out the $1.9T handed out in March 2021…intentional I am guessing…given the fact this is what pushed us over the edge into the inflation we are seeing today.

Promising that extra $1400 helped them win the senate.

 

[Bruce]

see you left out the $1.9T handed out in March 2021

Oops, "smaller government handouts in 2020" should have been "smaller government handouts in 2021".

I was and remain opposed to all of those government handouts. Means testing should have been applied and they should have been much smaller.

Please read and begin complying with https://jetboaters.net/threads/politics-religion-and-other-volatile-topics.1801/

 

[Grim1800]

Friday 6/2 Century City CA. Good old California prices!!!!

 

[Zizzou 192]

Talked to my friend yesterday who has a place down in Bullhead AZ. He said gas on the water on Lake Mojave was $9 per gallon for ethanol laced 87. He was taking his boat out anyway before the mahoodies show up for the weekend and was going to go fill up at Sam’s club for $4.43.

Sounds like they need new pipelines from each of AZ’s auto service stations to the marinas on every lake.

 

[BigN8]

Another prime example of shitty policy is the migration of people from Blue states to Red states. But I’m sure there’s a chart to explain that one too.

 

[Jim_in_Delaware]

Well this thread is turning into a mess (not a comment on any one post). Rather than focusing on facts and discussing market economies that drive supply/demand/futures (and thus prices), some folks can't help to simply regurgitate simple talking points from their favorite news (?) outlet. Too bad we can't actually talk specifics instead of politics.

So, I'm done with this thread. Looking forward however to talking with all of you on the other (non-political) threads.

Jim

 

[Ronnie]

My coworker sent me this, thankfully I did not see it in person nor did I or pay it this fee, yet.

 

[Bruce]

@Ronnie, it looks to be one of two gas stations in a small town on Highway 1.

Chevron - 44901 Main St - Mendocino, CA - GasBuddy.com

Chevron in Mendocino, CA. Carries Regular, Midgrade, Premium, Diesel. Has Restrooms, Service Station. Check current gas prices and read customer reviews. Rated 1.5 out of 5 stars.

www.gasbuddy.com

 

[Ronnie]

@Ronnie, it looks to be one of two gas stations in a small town on Highway 1.

Chevron - 44901 Main St - Mendocino, CA - GasBuddy.com

Chevron in Mendocino, CA. Carries Regular, Midgrade, Premium, Diesel. Has Restrooms, Service Station. Check current gas prices and read customer reviews. Rated 1.5 out of 5 stars.

www.gasbuddy.com

I’m just happy it’s not a gas station i have to use. There is one along the coast of central/southern ca that’s the only one around for over a 100 miles, it’s historically the most expensive gas in CA, year round . I bet regular unleaded there is well over $10 per gallon right now.

 

[FSH 210 Sport]

@Ronnie, it looks to be one of two gas stations in a small town on Highway 1.

Chevron - 44901 Main St - Mendocino, CA - GasBuddy.com

Chevron in Mendocino, CA. Carries Regular, Midgrade, Premium, Diesel. Has Restrooms, Service Station. Check current gas prices and read customer reviews. Rated 1.5 out of 5 stars.

www.gasbuddy.com

Makes you wonder who would buy gas there…especially when the comments on gas buddy state to just drive a short distance and find prices much lower than the $9 something a gallon for regular.

Im sure ca govt is loving this from a sales tax revenue perspective.. the sales tax on gasoline purchases there is based on the cost of the fuel which includes federal and state excise taxes, so folks are litterally paying sales tax on taxes…just flipping nuts.

AND this is a big and, Californias excise tax is raised each year based on cpi numbers so that excise tax will be increasing this July right on schedule. California had an opportunity in, oh 2016 or thereabouts to pass prop 6 which would have repealed this huge gas tax increase but the people didn’t pass it because the state had police and fire fighters make commercials saying they wouldn’t be able to get to you or your family because the roads were bad…which is why they needed that huge tax increase. The question really is, what was ca doing with all the gas tax revenue in the first place? Answer-spending it on mass transit programs like the crazy train to no where, it’s remnants currently rotting in the Central Valley. Then gov hair gel further kited funds already allocated for a much need expansion of the 99 fwy through the Central Valley for…..you guessed it, max transit programs. Now I just laugh when my ca friends ask me why I left that state as soon as I could. The state govt is about as corrupt as it can get.

Who is John Galt?

 

[Julian]

Closing this thread as far too many people have given up our no partisan politics rule.