How’s your fuel prices

[826]

$4.39 for Unlead this morning.

 

[spike camp]

Still 3.89 front range CO
Denver is likely cheaper.

 

[BagsandBullets]

$3.65 in GA

 

[SonnyDay]

$5.89 for unleaded in Bellingham this morning… glad to be back in CO!

 

[Backyard]

$4.09 for regular today
EFF DJT!


Sent from my iPhone using Tapatalk

 

[Poser]

In news that can’t possibly be good for the US or any country producing large amounts of shale oil, the UAE will exit opec effective May 1. Fracking extraction requires a minimum oil price. If prices drop too low due to unmoderated production by oil field countries (due to lack of oversight), fracking producers gonna feel some real pain.

UAE announces it will leave Opec | The National

The world's seventh-largest oil producer will exit the bloc on May 1, allowing it to gain greater 'flexibility to respond to market dynamics'

www.thenationalnews.com

 

[Rich M]

Went from 3.85 to 4.19 overnight - central FL

 

[IW17]

$3.89 to $4.29 over the weekend

 

[william schmaltz]

Who knows what to think as far as US production is concerned. I drove from Dickinson ND up to New Town a couple weekends ago. Not sure how many hundreds (maybe 1K) of wells a guy passes on that fairly short drive. I’d be surprised if 20% had pumps spinning. Maybe saw a half dozen workover rigs total. Didn’t see a single drill rig and you can see a long ways every direction on that drive. Im not sure when “drill baby, drill” happens when we’re not even at “pump baby, pump.”

 

[Poser]

Who knows what to think as far as US production is concerned. I drove from Dickinson ND up to New Town a couple weekends ago. Not sure how many hundreds (maybe 1K) of wells a guy passes on that fairly short drive. I’d be surprised if 20% had pumps spinning. Maybe saw a half dozen workover rigs total. Didn’t see a single drill rig and you can see a long ways every direction on that drive. Im not sure when “drill baby, drill” happens when we’re not even at “pump baby, pump.”

"Drill baby drill" was always a political scam that was never going to make any difference. The US does not own that oil. International oil companies own that oil and it all goes into the global market subject to global prices. The US is not going to "domestic production" its way out of this crisis or any future poil crisis without seizure and nationalization of the infrastructure and production.

 

[IDElkmagnet]

In news that can’t possibly be good for the US or any country producing large amounts of shale oil, the UAE will exit opec effective May 1. Fracking extraction requires a minimum oil price. If prices drop too low due to unmoderated production by oil field countries (due to lack of oversight), fracking producers gonna feel some real pain.

UAE announces it will leave Opec | The National

The world's seventh-largest oil producer will exit the bloc on May 1, allowing it to gain greater 'flexibility to respond to market dynamics'

www.thenationalnews.com

Don't you worry this was the plan all along! Short term loss long term gain! Things are looking up! It will really start to show after the midterms! Believe me!

$4.36 today

 

[spike camp]

"Drill baby drill" was always a political scam that was never going to make any difference. The US does not own that oil. International oil companies own that oil and it all goes into the global market subject to global prices. The US is not going to "domestic production" its way out of this crisis or any future poil crisis without seizure and nationalization of the infrastructure and production.

Political scam?

 

[bowhuntercoop]

Political scam?

Best to just hit the block / ignore button brother. Everything he post is left leaning, doom and gloom, anti America.

The forum gets much better blocking all of the crazy negative people around here.

 

[Poser]

Political scam?

If you want to explain how it wasn't a empty phrase used to illicit political support, then I'm interested to hear it.

 

[IdahoBeav]

The US is not going to "domestic production" its way out of this crisis or any future poil crisis without seizure and nationalization of the infrastructure and production.

This has worked in no country that has tried it. The idea that the government could take over anything from the private sector and would achieve success is pure lunacy.

 

[Poser]

This has worked in no country that has tried it. The idea that the government could take over anything from the private sector and would achieve success is pure lunacy.

I agree. A somewhat light version of this was tried during the 1970s oil crisis and it was a disaster. and elsewhere its been a failure at a minimum and then the oil companies are hesitant to reinvest after it fails. See Venezuela as an example.

Like it or not, the reality is, the oil marketplace is global and the oil companies are global entities. There is this romanticized idea that the US can just produce its own oil decoupled from the global market (hence the "drill baby drill" from way back in 2008), but there is no practical way to decouple the oil production or infrastructure itself from the global market without nationalizing it. This is the system we have and we are too deep into it to change it anytime soon . That's why I'm like "we need to stop talking this 'drill baby drill' nonsense as if it is the solution to our problem. I mean, sure the US can produce more oil and impact the price a tiny bit, but the oil companies are the only ones who get to make that decision and that only makes sense for them if it makes sense for their shareholders. If we want cheaper oil, there must be. an acceptance and embracement of global production. That's pretty much the end of it unless folks want to consider nationalization.

 

[spike camp]

If you want to explain how it wasn't an empty phrase used to illicit political support, then I'm interested to hear it.

I don’t think the saying, solely means an actual bit in dirt.
Lifting restrictions, streamlining permits, limiting vehicle epa restrictions, oil exploration, opening of closed areas, etc etc I think all encompasses the meaning behind the saying.

 

[JF_Idaho]

I don’t think the saying, solely means an actual bit in dirt.
Lifting restrictions, streamlining permits, limiting vehicle epa restrictions, oil exploration, opening of closed areas, etc etc I think all encompasses the meaning behind the saying.

And jobs

 

[DugLyfe]

Up the street $6.50 go old CAli! All I want is $5 dollar dinosaur juice!!

 

[Poser]

I don’t think the saying, solely means an actual bit in dirt.
Lifting restrictions, streamlining permits, limiting vehicle epa restrictions, oil exploration, opening of closed areas, etc etc I think all encompasses the meaning behind the saying.

I'm fairly certain the implication, and I think it was Michael Steele who first said it, but Sarah Palin really popularized it, was that "we're going to drill and gas is going to be cheap because of it so vote for me"

BUT, even if you follow the implication of it being creating jobs via oil infrastructure construction, exploration, executive action, regulatory rollbacks etc, its is not as if one single politician, or even a bunch of politicians, have any direct influence over that. Oil companies decide when to drill and they determine that by global demand, profits refining limitations etc. You can open up new areas to drilling and exploration, but if the timing is not economically viable, then they aren't going to drill. It was a one line slogan presented as an ultimate solution so people would vote for the folks who touted it. Politicians never had the ability to make oil companies create jobs or even influence oil prices by drilling more in the US. They do hold some amount of influence over the keys to exploration if they can collectively generate the support, they can roll out some execution actions that create incentives, but that's the end of it. And even when these tenants have seemingly come together, say earlier this year with peak US production, it hasn't proven itself sustainable.

If you wanted to turn "drill baby drill" into a truthful statement, it would read "we're going to hope that these global oil companies have the need to drill more and that may very well create some jobs, but it may not effect the price you pay at the pump"

If you wanted to turn it into a political statement that implies that fuel at the pump is going to be cheaper then it would read something like, "This administration is going to build and maintain strategic diplomatic relationships with OPEC and the oil producing countries around the world to best optimize fuel prices in a way that benefits both industry and the consumer. Keep in mind, these relationships take years to develop and are subject to complex geo political events and may very well be disrupted for weeks, months or years at a time. Just being honest with you"