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

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D

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Gasoline is the United States number one export and they are expanding refineries in the midwest and gulf coast while closing refineries on the East coast.

All this gasoline, yet paying more than ever for it.

Things that make you go hmmmmm

4-23-2012

http://www.bloomberg.com/news/2012-...ens-after-motiva-starts-coker.html?cmpid=yhoo

Gulf Coast Gasoline Discount Widens After Motiva Starts Coker


Gulf Coast gasoline fell after Motiva Enterprises LLC started a new delayed coker at its refinery in Port Arthur, Texas.

The refinery is expanding to become the largest in the nation, with the capacity to process 600,000 barrels a day.

Sunoco Inc. (SUN) said today that it may sell a majority stake in its 330,000-barrel-a-day Philadelphia refinery to Carlyle Group (CG) and keep the plant running. Sunoco said it delayed plans to idle the facility while the discussions continue.

4-23-2011

http://detroit.cbslocal.com/2012/04/23/house-boarded-up-as-more-accept-marathon-offer-to-move/
Houses Boarded Up As More Accept Marathon Offer To Move

Neighbors living in the shadow of southwest Detroit’s Marathon Oil refinery are coming around on the company’s offer to buy their homes to make room for a $2 million expansion.

The company upping the ante, offering a minimum appraisal of $50,000.
“I’d describe it as a decent offer, but I think they could’ve done it better,” said Francisco Duran, whose parents are taking the offer and moving downriver. ”Some of the families around this neighborhood are struggling. I mean, either way they’re gonna get kicked out of their homes. So they might as well give them something decent so they can go buy themselves another house, ya know?”


Duran said he has misgivings about leaving the neighborhood were grew up, but doesn’t mind the Marathon deal if it will mean more jobs for the area.
 
Londo_Jowo

Londo_Jowo

Lifer
Jan 31, 2010
17,303
158
106
londojowo.hypermart.net
Gulf Coast Gasoline Discount Widens After Motiva Starts Coker


Gulf Coast gasoline fell after Motiva Enterprises LLC started a new delayed coker at its refinery in Port Arthur, Texas.

The refinery is expanding to become the largest in the nation, with the capacity to process 600,000 barrels a day.
Click to expand...

So this is why the prices are dropping in the Houston area.
 
D

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Londo_Jowo said:
So this is why the prices are dropping in the Houston area.
Click to expand...

Kickbacks, Oil buddies

Oil continues to be above $103.

4-23-2012

Crude Oil Jun 12 (CLM12.NYM) -NY Mercantile

103.13
up_******
0.02(0.02%) 7:30PM EDT



There is a show called Dallas

It's back on air again.

http://finance.yahoo.com/q?s=clm12.nym
 
C

CLite

Golden Member
Dec 6, 2005
1,726
7
76
dmcowen674 said:
Kickbacks, Oil buddies

Oil continues to be above $103.

4-23-2012

Crude Oil Jun 12 (CLM12.NYM) -NY Mercantile

103.13
up_******
0.02(0.02%) 7:30PM EDT



There is a show called Dallas

It's back on air again.

http://finance.yahoo.com/q?s=clm12.nym
Click to expand...

So, in the oil and gas industry a typical life-cycle of crude to gasoline may be as follows.

Government lease of land ---- fixed-price
Upstream producer/seller ---- market price and/or long-term contract price with refineries
Traders --- some refineries just buy whatever is floating off-shore in tankers, i.e. traders, some deal with upstream producer/seller
Crude Transport --- usually fixed cost
Refiners --- either buying crude at contract price or market price
Gasoline storage/transport ---- usually fixed cost
Gas station --- usually fixed cost

In this chain you could have a separate company at almost every step of the way, although usually refiners/gas station will be tied together more closely than most other steps.

Anyways, out of that chain who is kicking back to whom? Keep in mind these can be competing companies in a lot of cases.
 
D

desy

Diamond Member
Jan 13, 2000
5,446
214
106
You know you don't pay the same price for milk in every part of the country either in spite of the fact that the price of a cow is pretty much the same across the board
 
D

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
4-27-2012

http://seekingalpha.com/article/535901-gasoline-prices-to-jump-15-at-least-in-may?source=yahoo

Gasoline Prices To Jump 15% (At Least) In May


The Seaway oil pipeline is owned by Enbridge (ENB) and Enterprise Products Partners (EPD). It carries imported oil from Freeport, Texas to Cushing, Oklahoma. At least it will for the next 3 weeks.


On May 17, the Seaway pipeline will reverse its flow. In less than a month, 150,000 barrels of American oil will flow from Cushing to Freeport's refineries and export facilities. By 2013, as much as 400,000 barrels of U.S. oil will have access to the global market and the Brent crude price.


This means the gap between the U.S. oil benchmark WTI (currently $102) and the foreign Brent crude oil benchmark (currently $117) is going to close. WTI prices could make a quick 15% move higher as U.S. oil gets more access to international prices.


Now, I'm not a politician. I can't tell you why we haven't figured out a way to keep U.S. oil here at home and ease the price at the pump. I can't explain how it makes sense to import oil and then export gasoline.


However, I am an investor. And I can tell you that U.S. oil companies will make a lot more money when the price of WTI surges higher. That $71 a barrel for Bakken oil could jump to $100 or higher.
 
D

desy

Diamond Member
Jan 13, 2000
5,446
214
106
Peter Schiff

In 2010 Schiff ran as a candidate in the Republican primary for the United States Senate seat from Connecticut.[18]

Ergo I hate everything Obama does, nuff said

His father, Irwin Schiff, is a prominent figure in the U.S. tax protester movement, currently serving a 13-year sentence for tax evasion.

Ergo taxes will never be low enough
 
Last edited:
I

Incorruptible

Lifer
Apr 27, 2012
10,086
58
86
desy said:
Peter Schiff

In 2010 Schiff ran as a candidate in the Republican primary for the United States Senate seat from Connecticut.[18]

Ergo I hate everything Obama does, nuff said

His father, Irwin Schiff, is a prominent figure in the U.S. tax protester movement, currently serving a 13-year sentence for tax evasion.

Ergo taxes will never be low enough
Click to expand...

Peter Schiff is right. His father understands that the income tax is unconstitutional so he didn't pay them
 
I

Incorruptible

Lifer
Apr 27, 2012
10,086
58
86
Born2bwire said:
Just for you, I'll vote for him on my absentee ballot. That way you'll know that you'll have to live with the consequences of my decision, not me.
Click to expand...

Whatever makes you happy. You'll have to live with the consequences when the US gets worse and the economy gets even more destroyed
 
Born2bwire

Born2bwire

Diamond Member
Oct 28, 2005
9,840
6
71
Incorruptible said:
Whatever makes you happy. You'll have to live with the consequences when the US gets worse and the economy gets even more destroyed
Click to expand...

I've enjoyed the 1% tax rate that I had the last four years. US policies didn't touch me then. I doubt they would in China.
 
D

desy

Diamond Member
Jan 13, 2000
5,446
214
106
Yep here are those Liberal Schills at the Cato institute blaming Obama oh wait, they don't
http://www.cato.org/publications/commentary/its-not-obamas-fault-crude-oil-prices-have-increased

So despite the popular perception of President Obama as anti-oil, domestic oil production is increasing for the first time since the Johnson administration. Alas, little of this has to do with the president. Prices increased from $22 in 2002 to just under $100 a barrel average in 2008 and supply has responded. President Obama is no more responsible for production increases than other presidents were responsible for production declines. Unfortunately, presidents get blamed for world market changes that occur during their time in office... but generally, they do not cause them.
 
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