Got Gas? U.S. Economy to Worsen as Gas Prices Skyrocket

[dmcowen674]

We have oil coming out the ass

1-3-2013

http://finance.yahoo.com/news/oil-pr...055806501.html

Oil prices tumble over ample supplies



The U.S. Energy Information Agency and the American Petroleum Institute to show a 1 million barrel draw for the week ending Dec. 28. Still, the U.S. market is "well-supplied," Platts said, citing analysts.


U.S. supplies, at 371 million barrels for the week ending Dec. 21, are 15.6 percent higher than the five-year average, Platts said, citing EIA data.



For the same week, data showed U.S. production at nearly 7 million barrels per day, the highest since December 1993.

[Londo_Jowo]

Originally Posted by dmcowen674

We have oil coming out the ass

1-3-2013

http://finance.yahoo.com/news/oil-pr...055806501.html

Oil prices tumble over ample supplies



The U.S. Energy Information Agency and the American Petroleum Institute to show a 1 million barrel draw for the week ending Dec. 28. Still, the U.S. market is "well-supplied," Platts said, citing analysts.


U.S. supplies, at 371 million barrels for the week ending Dec. 21, are 15.6 percent higher than the five-year average, Platts said, citing EIA data.



For the same week, data showed U.S. production at nearly 7 million barrels per day, the highest since December 1993.

Aren't you sad that the drop in oil prices will result in lower gas prices?

[dmcowen674]

1-7-2013

http://chicago.cbslocal.com/2013/01/...ss-4-a-gallon/

Gas Prices Should Be Lower Than Last Year, But Still Could Surpass $4 A Gallon


How painful will filling up at the pump be this year? On Monday, experts were giving their first look at what’s ahead for gas prices.

CBS 2′s Dorothy Tucker reports the outlook is kind of a mixed bag for drivers.


As of Monday, the average price of gas in Chicago area was $3.41 a gallon. Last year at this time it was $3.68, but gas prices went well above $4 per gallon in March and April, and then again in August in September.


Unfortunately, Chicago area motorists likely will see $4-a-gallon gas again this year.

There are three oil refineries in the Chicago area producing gasoline for the region.

DeHaan said they all reduce production in the spring for maintenance

==========================================
This is where they get rewarded for being incompetent.

They should be producing shit tons of the summer blend now.

The same thing is said every year and people just bend over and allow this.

Americans deserve to be screwed without lube.

[dmcowen674]

Right on cue, came home from work and found all the local stations jumped 20 cents last night. Now running in $3.50 range.

I am sure we will be seeing $6 gas here in Chicago this year.

Already heading to $4 and its only beginning of January.

Tons of oil and exporting more gas than ever yet Americans will be paying more than ever.

Enjoy being butt reamed without lube dumb ass Americans.

[Londo_Jowo]

Right on cue, gas prices go up near McOwned and gas prices near me go down.

Down $0.05/gal overnight to $3.04/gal.

http://www.houstongasprices.com/Chev...517/index.aspx

[dmcowen674]

Jowo's buddies skirting taxes, big surprise:

1-10-2013

http://news.yahoo.com/lawmaker-says-...--finance.html

Shell may have moved rig to avoid taxes: lawmaker



Royal Dutch Shell may have moved the Kulluk oil rig that ran aground off Alaska last month to avoid $6 million in taxes, Congressman Ed Markey said on Thursday, disputing the company's claims it moved the rig because of weather forecasts.


Markey, in a letter sent to Shell President Marvin Odum on Wednesday, said the decision to move the rig "may have been driven, in part, by a desire to avoid ... tax liability on the rig."


An aide to Markey, an outspoken critic of the oil and gas industry and the top Democrat on the House Natural Resources committee, said the lawmaker received information about Shell and taxes from the Alaska revenue department.

The U.S. Interior Department said this week it will review Shell's Arctic oil drilling program, on which the company has spent $4.5 billion since 2005, to assess challenges and guide future permitting in the region.

[dmcowen674]

1-9-2013

http://www.bloomberg.com/news/2013-0...-20-years.html

Fracking Pushes U.S. Oil Production to Highest in 20 Years



U.S. oil production exceeded 7 million barrels a day for the first time since March 1993 as improved drilling techniques boosted exploration across the country and reinforced a shift toward energy independence.


The Energy Department reported today that weekly average output rose to 7.002 million barrels a day in the week ended Jan. 4, a 1.16 million-barrel increase from the same week last year.



The country met 83 percent of its energy needs in the first nine months of 2012, on pace to be the highest annual rate since 1991, department data show.

Production grew by the fastest pace in U.S. history last year and will accelerate in 2013 as horizontal drilling and hydraulic fracturing, or fracking, unlocks crude trapped in formations such as North Dakota’s Bakken shale. The state boosted production 40 percent last year through October, Energy Department data show. Texas was up 23 percent, and Utah rose 11 percent.


The method has also pushed U.S. natural gas production to record levels.


“I don’t think anyone expected the magnitude of the change in just one year,” said Andy Lipow, president of Lipow Oil Associates LLC, a Houston-based consulting firm. “It’s extraordinary.”

North Dakota overtook Ecuador, the smallest producer in the Organization of Petroleum Exporting Countries, last year and is closing in on Qatar, the second-smallest, which pumped 750,000 barrels a day in December

[Londo_Jowo]

Originally Posted by dmcowen674

Jowo's buddies skirting taxes, big surprise:


Shell may have moved rig to avoid taxes: lawmaker



Royal Dutch Shell may have moved the Kulluk oil rig that ran aground off Alaska last month to avoid $6 million in taxes, Congressman Ed Markey said on Thursday, disputing the company's claims it moved the rig because of weather forecasts.

Accusations with no proof. Yet more lies and half truths from Team McOwned.

[Svnla]

Gas prices went up. From $2.99 (last week) to $3.09 (today).

[Wreckem]

Where I live in TX I filled up on Monday for $2.65/gallon.

Drove to DFW. When I refilled up there it was $3.12/gallon.

Drove home yesterday and filled up today, for $2.84/gallon.

I heard yesterday that analysts say that this summer Texas is expected to have an avg gas price above $4 for the first time ever.

[Wreckem]

Originally Posted by dmcowen674

1-9-2013

http://www.bloomberg.com/news/2013-0...-20-years.html

Fracking Pushes U.S. Oil Production to Highest in 20 Years



U.S. oil production exceeded 7 million barrels a day for the first time since March 1993 as improved drilling techniques boosted exploration across the country and reinforced a shift toward energy independence.


The Energy Department reported today that weekly average output rose to 7.002 million barrels a day in the week ended Jan. 4, a 1.16 million-barrel increase from the same week last year.



The country met 83 percent of its energy needs in the first nine months of 2012, on pace to be the highest annual rate since 1991, department data show.

Production grew by the fastest pace in U.S. history last year and will accelerate in 2013 as horizontal drilling and hydraulic fracturing, or fracking, unlocks crude trapped in formations such as North Dakota’s Bakken shale. The state boosted production 40 percent last year through October, Energy Department data show. Texas was up 23 percent, and Utah rose 11 percent.


The method has also pushed U.S. natural gas production to record levels.


“I don’t think anyone expected the magnitude of the change in just one year,” said Andy Lipow, president of Lipow Oil Associates LLC, a Houston-based consulting firm. “It’s extraordinary.”

North Dakota overtook Ecuador, the smallest producer in the Organization of Petroleum Exporting Countries, last year and is closing in on Qatar, the second-smallest, which pumped 750,000 barrels a day in December

Domestic production is at highs while world production(especially OPEC countries) is scaled back. OPEC has already said they would cut production to ensure oil prices stay above certain levels.

[dmcowen674]

Originally Posted by Wreckem

I heard yesterday that analysts say that this summer Texas is expected to have an avg gas price above $4 for the first time ever.

Excellent news, thanks you made my day.

[Londo_Jowo]

AAA seems to disagree with the prediction of higher gas prices in 2013.

http://newsroom.aaa.com/tag/gas-prices/

WASHINGTON, D.C., (January 8, 2013) – Gasoline prices this year will be less expensive than in 2012 as a result of increased domestic oil production and lower demand, according to AAA. The national average price of gasoline should peak at $3.60-$3.80 per gallon barring any significant unanticipated events, which compares to a peak of $3.94 a gallon in 2012.

“Cheaper gas prices are good news for the millions of Americans that depend on their car to travel where they need to go,” said AAA President and CEO Robert Darbelnet. “Lower gasoline prices should translate into billions of dollars in tangible household savings given that the vast majority of Americans rely on automobiles to live their lives.”

[dmcowen674]

Gas back over $4 in Chicago

It's only January so should be easy to surpass $6 this year

[Doppel]

Originally Posted by dmcowen674

Gas back over $4 in Chicago

It's only January so should be easy to surpass $6 this year

no

[Londo_Jowo]

Originally Posted by Doppel

no

Concur

[randomrogue]

Dave did predict $5 gas in 2010 and we did get a day or two of that in California in Oct of last year. I'd say his prediction record is rock solid.

[Londo_Jowo]

Originally Posted by randomrogue

Dave did predict $5 gas in 2010 and we did get a day or two of that in California in Oct of last year. I'd say his prediction record is rock solid.

Only due to local refinery issues and specially blended gas for use in California.

I never saw gas prices above $3.79/gal last year.

[heymrdj]

Originally Posted by Londo_Jowo

Only due to local refinery issues and specially blended gas for use in California.

I never saw gas prices above $3.79/gal last year.

Really..you complain about mcowen using Chicago prices, and then you pull that rabbit out of your ass?

http://www.nbcnews.com/business/5-st...-gas-1C7529218

You're not the norm. I have a picture on my phone of filling my truck up at 4.08 a gallon during the summer and that wasn't even the peak.

Ft. Wayne, IN. I'm already pumping at 3.60/g for my car and 3.89/g for my truck.

[EagleKeeper]

Running about $3.70-$3.80 in northern burbs of Chicago.

$0.20 cheaper across the state line in WI

[drebo]

$3.29 in the city in which I work. $3.54 10 miles away by my house.

[Londo_Jowo]

Originally Posted by heymrdj

Really..you complain about mcowen using Chicago prices, and then you pull that rabbit out of your ass?

http://www.nbcnews.com/business/5-st...-gas-1C7529218

You're not the norm. I have a picture on my phone of filling my truck up at 4.08 a gallon during the summer and that wasn't even the peak.

Ft. Wayne, IN. I'm already pumping at 3.60/g for my car and 3.89/g for my truck.

I live in the suburbs of Houston.

Take a look at the one year price chart. Houston hit $3.89/gal and the highest I paid was $3.79.

http://www.houstongasprices.com/Retail_Price_Chart.aspx

Prices are currently $3.15/gal.

http://www.houstongasprices.com/Chev...517/index.aspx

[heymrdj]

You mean this kind of chart where you're historically lower?

http://www.HoustonGasPrices.com/reta...me=12&units=us

Oh and this one too: http://www.HoustonGasPrices.com/reta...ayne&city3=USA Average&crude=n&tme=12&units=us

[Londo_Jowo]

I filled up on my way home this afternoon for $3.06/gal (including my Kroger $0.10/gal discount)

http://www.texasgasprices.com/Shell_...096/index.aspx

The $3.13 is for cash purchases, credit or debit $3.16/gal.

[DucatiMonster696]

Originally Posted by randomrogue

Dave did predict $5 gas in 2010 and we did get a day or two of that in California in Oct of last year. I'd say his prediction record is rock solid.

Of course you have to take into account that California is a closed market and the price increase was due to a shortage of supply due to several refineries in the state shutting down for differing reasons within months of each other. In addition the state literally the cut itself off from being able to purchase outside sources of fuel in the US (and the world) that did not meet our "Special Blend" requirements. Of which this said state established policy led to the price spike which was only alleviated when the governor chose to lift the restrictions on what type of gas could be sold in the state and the problem resolved itself relatively quickly.