How’s your fuel prices

[FLATHEAD]

Elon Musk has already stated that the current grid system cannot handle switching from gas/diesel to electric.

And brings a whole new perspective to long term power outages,,snow, ice and hurricanes.
Talk about a fester cluck.

 

[Beendare]

Gas prices are up 63% yr on yr over the Trump admin.

Buzz H and others defending the Biden admin claim they can lessen the current fuel disaster with the strategic oil reserve. The Biden admin is also considering no exports of US Oil That will only make things worse.

The Biden admin shows a lack of understanding and is disregarding the warnings from the experts, what a shit show. Biden declares war on fossil fuels, kills pipelines and investment and is now scrambling to solve the problems they created- < face palm>


From IHS markit report- emphasis, theirs

But, as IHS Markit details in a new report, the unintended consequences of such a policy would likely increase gasoline prices rather than lower them.
(Me- Goldman and others agree)

“A U.S. crude oil export ban would make the situation worse—for the United States and the world—at a time when global supply chains are already under exceptional strain,” said Jim Burkhard, vice president and head of crude oil markets, IHS Markit.
“Such a ban would disrupt global oil supply chains, run counter to decades of U.S. policy promoting the free flow of oil and gas, lead to inefficient and costly re-allocation of domestic crude oil production, disrupt supplies for allies and discourage domestic production—which would all put upward pressure on U.S. gasoline prices. It would also send an unnerving signal to allies and partners about the reliability of the United States.”

Gasoline prices in the United States are connected to the global oil and gasoline market—and not the price of domestically produced crude oil, the analysis notes. A ban on exporting domestic U.S. crude oil production may lower the price of domestic crude. However, this could discourage production of both oil and natural gas with the result likely being a tighter world oil market—without lowering gasoline prices.

Instead, the disruption to the oil supply chain—both domestically and internationally—would likely increase gasoline prices, the analysis finds.

“Removing the 3 million barrels per day of crude that the United States exports to Europe, Asia and elsewhere would deliver a shock to the world market. The lost barrels would have to be replaced from somewhere else. And it is not clear if all of that could or would be replaced in a tight market,” said Burkhard. “Such a disruption of international crude oil flows would lead to a scramble to find other oil and generate more upward pressure on crude oil prices—and thus increase the price of U.S. gasoline.”

Implementing an export ban would also force a costly and inefficient re-allocation of crude oil supplies to refineries, the analysis says.

A large share of U.S. refining capacity is configured to process a different type of crude than the kind that the United States exports. Refineries in the United States are already operating at high utilization rates. Additional processing of another type of crude—a type that those refineries are not designed for—would only occur with increasing inefficiency, says the analysis.


Regular unleaded hit $5.09 in my town…..I can still find it for $4.79 if I search.

Point is, Count on things getting worse with this Admin calling the shots…..

.

 

[Rob960]

Gas prices are up 63% yr on yr over the Trump admin.

Buzz H and others defending the Biden admin claim they can lessen the current fuel disaster with the strategic oil reserve. The Biden admin is also considering no exports of US Oil That will only make things worse.

The Biden admin shows a lack of understanding and is disregarding the warnings from the experts, what a shit show. Biden declares war on fossil fuels, kills pipelines and investment and is now scrambling to solve the problems they created- < face palm>


From IHS markit report- emphasis, theirs

But, as IHS Markit details in a new report, the unintended consequences of such a policy would likely increase gasoline prices rather than lower them.
(Me- Goldman and others agree)

Gasoline prices in the United States are connected to the global oil and gasoline market—and not the price of domestically produced crude oil, the analysis notes. A ban on exporting domestic U.S. crude oil production may lower the price of domestic crude. However, this could discourage production of both oil and natural gas with the result likely being a tighter world oil market—without lowering gasoline prices.

Instead, the disruption to the oil supply chain—both domestically and internationally—would likely increase gasoline prices, the analysis finds.


Implementing an export ban would also force a costly and inefficient re-allocation of crude oil supplies to refineries, the analysis says.

A large share of U.S. refining capacity is configured to process a different type of crude than the kind that the United States exports. Refineries in the United States are already operating at high utilization rates. Additional processing of another type of crude—a type that those refineries are not designed for—would only occur with increasing inefficiency, says the analysis.


Regular unleaded hit $5.09 in my town…..I can still find it for $4.79 if I search.

Point is, Count on things getting worse with this Admin calling the shots…..

.

sooner than you may think. On fox they reported that the idea is being floated of replacing Kamala with Pete Buttiegeg?

 

[linnebur6]

Looking at 3.19 here, have never seen prices this high in Texas... Seems to be a whole mess at this point.

Everything is going up.
Just crazy.

 

[Beendare]

Watch for it....the Biden admin will most likely cowtow to Schumer and the other geniuses running the Dem party and release fuel from the Strategic Oil reserve.

The will reduce the price of a barrel of Oil, but only short term [I've seen estimates of $2-$4 a barrel] and the oil stocks will probably take a quick hit.

I will probably reload my energy portfolio at that point to offset the inevitable continued rise in Gas prices.

When the Dems in power attack our energy companies, shutting down pipelines, killing investment- then add in the pandemic and of course it was going to drive up energy prices. Heck, Biden begging OPEC and the Russians to give us more oil is good for a few $$ a barrel increase alone...plus that groveling makes you feel proud to be an American- not!

If anyone has seen intelligent commentary on this, I'm all ears.

 

[Backyard]

And brings a whole new perspective to long term power outages,,snow, ice and hurricanes.
Talk about a fester cluck.

Not to worry tho. That’s only for Texas. But they have it all figured out now after their little fuster cluck last winter.


Sent from my iPhone using Tapatalk

 

[Okhotnik]

Gas prices are up 63% yr on yr over the Trump admin.

Buzz H and others defending the Biden admin claim they can lessen the current fuel disaster with the strategic oil reserve. The Biden admin is also considering no exports of US Oil That will only make things worse.

The Biden admin shows a lack of understanding and is disregarding the warnings from the experts, what a shit show. Biden declares war on fossil fuels, kills pipelines and investment and is now scrambling to solve the problems they created- < face palm>


From IHS markit report- emphasis, theirs

But, as IHS Markit details in a new report, the unintended consequences of such a policy would likely increase gasoline prices rather than lower them.
(Me- Goldman and others agree)

Gasoline prices in the United States are connected to the global oil and gasoline market—and not the price of domestically produced crude oil, the analysis notes. A ban on exporting domestic U.S. crude oil production may lower the price of domestic crude. However, this could discourage production of both oil and natural gas with the result likely being a tighter world oil market—without lowering gasoline prices.

Instead, the disruption to the oil supply chain—both domestically and internationally—would likely increase gasoline prices, the analysis finds.


Implementing an export ban would also force a costly and inefficient re-allocation of crude oil supplies to refineries, the analysis says.

A large share of U.S. refining capacity is configured to process a different type of crude than the kind that the United States exports. Refineries in the United States are already operating at high utilization rates. Additional processing of another type of crude—a type that those refineries are not designed for—would only occur with increasing inefficiency, says the analysis.


Regular unleaded hit $5.09 in my town…..I can still find it for $4.79 if I search.

Point is, Count on things getting worse with this Admin calling the shots…..

.

Some people are too dumb and uneducated to understand the purpose of our strategic reserve. The SPR is only to be tapped in “severe energy market supply interruption” and not for increased prices. It sure wasn't designed to help an incompetent administration. And if it is to be used it has to be filled again. How's that going to happen? Oil from Iran and/or Russia? Or We could send Kamela over to the mid east as it is rumored she could easily suck all of their oil out their ground. She could be good for something and could use her one talent. lol

Lets go Brandon

 

[RyanT26]

Holding steady at 3.09.

This made me laugh this morning. Maybe biden is starting to realize you can’t run the country on rainbows, sunshine, wind, and unicorn farts.

“ (CNN) - One of President Joe Biden's boldest environmental campaign promises was to ban new oil and natural gas leasing on public land and water. But on Wednesday his administration will open more than 80 million acres in the Gulf of Mexico to auction for drilling.”

 

[Brooks]

Hit the $3.89 per gallon mark for diesel today In my area of NM. Filled up the truck, filled up a 55 gallon barrel for the tractor and 3 cans …came to almost $400 and it will be all gone in less than a week.

 

[MikeyJG62]

$4.85 for low octane a mile from my house. Good ol California!!!

 

[Beendare]

Well isn’t this interesting….
Biden begging China to release their own SPR ( hint; they aren’t going to bail out US bad policy)
Schumer publicly calling for Biden to release the SPR…

It turns out, the US has quietly been selling down the SPR for the last 10 weeks…and fuel prices keep rising. Biden is panicking….never a good look for a US president.

Bloomberg charts




Now he is ordering an investigation into the oil companies trying to deflect from his own admin’s bad policy. <face palm>

Unfortunately, I think we can expect high fuel prices to continue.

 

[Rob5589]

I'm over 100 per fill up. First time in my lifetime with the vehicles I've owned. We're spending close to 800/month in fuel cost.

#letsgobrandon
#buildbackbetter
#nomoremeantweets

 

[Beendare]

Lest we forget how that jerk Trump handled energy in his admin with his beefing up the SPR At low prices;

from the US dept of energy
March 2020, WASHINGTON, D.C. – At the direction of the President of the United States, Donald J. Trump, the Department of Energy (DOE) will fill the Strategic Petroleum Reserve (SPR) to its maximum capacity by purchasing 77 million barrels of American-made crude oil. Today, DOE announced a solicitationfor the purchase of an initial 30 million barrels to begin filling the SPR. Solicitations for additional purchases will follow.

“DOE is moving quickly to support U.S. oil producers facing potentially catastrophic losses from the impacts of COVID-19 and the intentional disruption to world oil markets by foreign actors,” said U.S. Energy Secretary Dan Brouillette.


What an idiot that Trump character was buying oil for us Americans in the $30 range, eh? Grin

 

[JonNBama]

Well today I paid $3.91/gal for diesel up in Bristol TN, then topped of when I got back to Bama at $3.19.

 

[isItFallYet]

Diesel was 3.83 south of Atlanta on Sunday when I was traveling back from duck hunting the FL opener. Yes, this is Georgia, not California. WTF???

 

[Beendare]

Hold onto your hat.

Biden panicked, Oil spiking today… just as the experts predicted….only faster.

Dang, I thought I would have a couple days to put more positions on.

Heres some commentary from Kyle Bass. In case you havent heard of him, he is a super smart finance guy that made billions predicting a crash years ago;

But it’s this kind of childish thinking that will compromise US National Security and harm the poor and underserved.

A coordinated SPR release is a quick shot of morphine for a major infection.

It fixes nothing and is evidence of a panic in DC.

Prepare for $100 now...

If anyone took the time to review US SPR data, the administration has been selling many millions of barrels each month for the last 90 days.

 

[Rich M]

3.39 87 orlando

 

[CorbLand]

3.69 here in Northern Utah. We have stayed in the high 3.60s to low 3.70s for the last month or so. Filled my pickup up the other day and had to run my card twice due to the pump shutting off. Anyone else feel like this all feels like 2006/2007 again?

 

[cmahoney]

You guys need to stop complaining, how are we going to fight climate change, fundamentally change the economy and create good paying UNION green jobs with cheap energy, c’mon man.

Besides you guys can afford it,

MSNBC anchor Stephanie Ruhle argues Americans can afford expensive groceries, is dubbed ‘Stephanie Antoinette'

MSNBC's Stephanie Ruhle said Americans have to put the high inflation rate and rising food prices "in perspective" on Sunday.

www.foxnews.com

If you need more cash you need to hustle like Hunter Biden, start painting or maybe sell some African cobalt mining rights to China.


Sent from my iPhone using Tapatalk

 

[Beendare]

Whomever said the president cannot affect the price of oil is extremely out of touch with reality.

Begging OPEC and the Russians to send us more oil, Panicking and begging China and Japan to release some of their own SPR and releasing 50m barrels over a period of months...we use 20m a day in the US, can you say spitting in the ocean?

All of that panicking just drives up the price....(and its a real good look for the president of the US, Eh?) which of course is exactly what the Dems want as it makes their Green initiative more palatable.

Now, more Biden admin continuing to drive up the cost of oil and gas;

1) The Biden admin just today put sanctions on the Nord Stream pipeline in Europe [nat gas up 5% today)
Europe is up in arms with the US meddling in this.

2). Part of the BBB plan includes Methane tax to the oil and gas companies.............an expense to their business that they will just pass on to consumers in the form of higher prices.

Oh....but he is helping the avg American....yeah right.