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

[airdata]

They had some douche speculator guy on the news yesterday talking about " Gas could be 3.40-3.25 by new years".

Meanwhile I just payed 2.95 to fill up.

 

[dmcowen674]

12-12-2012

http://www.cnbc.com/id/100303950?__source=yahoo|headline|other|text|&par=yahoo

Oil Market Going Through 'Violent' Structural Change



The oil market may appear calm but the International Energy Agency (IEA) has warned that recent data show the market is actually undergoing violent structural changes.



According to the IEA, the shift of oil demand from the West to the East is now rapidly accelerating.

According to the agency, three years ago Europe and Asia appeared in sync in terms of global oil demand but today the regions are markedly different in terms of oil demand trends and appear to be going in "opposite ways."


The second major shift according to the agency is that the refining industry is no longer a local industry and the end-users of oil are globalizing and sourcing their oil from further away.

"Exports are driving throughputs in the U.S. and Europe in the face of local demand contraction," the IEA said. It noted that while the U.S. was the world's largest importer it has now become the world's second largest exporter after Russia.

=====================================
Doesn't matter how "violent" it gets, Americans will still be paying out the ass.

 

[WhipperSnapper]

Haha. Best thread of all time.

I just filled up my F-150, my GT-500, and my RZR 4 900 XP for cheap. OP meanwhile re-loaded his pre-paid cell phone minutes and his bus pass.

Don't worry. In all likelihood the gas prices will increase again, eventually. The world's population is only getting larger and larger and more and more people are driving automobiles and there's only so much of that fossil fuel oil in the ground.

It may not happen next week or next month or next year, but eventually and probably in the near future.

 

[dmcowen674]

Originally Posted by OCGuy
Haha. Best thread of all time.

I just filled up my F-150, my GT-500, and my RZR 4 900 XP for cheap. OP meanwhile re-loaded his pre-paid cell phone minutes and his bus pass.

Don't worry. In all likelihood the gas prices will increase again, eventually. The world's population is only getting larger and larger and more and more people are driving automobiles and there's only so much of that fossil fuel oil in the ground.

It may not happen next week or next month or next year, but eventually and probably in the near future.

Gas price futures up on 110% bullshit:

12-12-2012

http://www.reuters.com/article/2012/12/12/us-refinery-motiva-operations-idUSL1E8NC45S20121212

Troubled Motiva refinery crude unit shut by small fire

Repairs to fractured pipe could take several days, sources say

325,000 barrel per day crude unit was in process of restarting

New crude unit had previously been shut due to corrosion issue

Gasoline prices jump on fire

Motiva Enterprises aborted the restart of a major new crude oil unit at its Port Arthur, Texas, plant after a fractured pipe caused a small fire late on Tuesday, the latest glitch to bedevil the country's biggest refinery.

Reports of the fire helped cause U.S. gasoline and heating oil futures to jump by nearly two percent in early trade.

The fire isn't believed to have caused significant damage, the sources told Reuters, but it spooked traders fearing that another prolonged disruption could impact fuel production and supplies along the Gulf Coast, the U.S. refining hub.

"The additional supply is sorely needed, and the plant's apparent fragility has made the market nervous that full operation may still be a ways off," said John Kilduff, partner at Again Capital LLC in New York.


However, the U.S. Energy Information Administration said on Wednesday that Gulf Coast gasoline stocks gained 1.7 million barrels last week, on top of a 2.4 million-barrel build the week before, on refinery utilization of 95.4 percent.

TROUBLED UNIT
The aborted restart could compound woes for the plant's owners, who have spent around $10 billion over five years to expand Motiva into the nation's biggest plant.


The VPS-5 crude distillation unit - a key component of the expanded 600,000 bpd refinery - has suffered several setbacks since it first began processing crude in April.


"The reason this start-up is given such importance is that it's really the largest refinery start-up in U.S. history," said John Auers, senior vice president and refining specialist at Turner, Mason & Co. in Dallas.

==========================================
Person listed in article that should be in jail:

John Kilduff, partner at Again Capital LLC in New York

 

[Doppel]

To use your words, you're "blind and dumb".

To use mine "Now comes the part where you reference what you think I said without ever providing a link."

As expected. You think your link owns me, but have no idea why. Because you act and think with rage first, reason last (if ever).

Ancillary to what I said here, David, I don't expect an apology for your misconduct two days ago, but a decent man would give it. You made a false claim, I called your lie, and you should own up to it like a man (but you won't).

Prove me wrong (it would be the first time you did it).

Provide a link on how you owned me or else man up and admit you were wrong again.

 

[dmcowen674]

Ancillary to what I said here, David, I don't expect an apology for your misconduct two days ago, but a decent man would give it. You made a false claim, I called your lie, and you should own up to it like a man (but you won't).

Prove me wrong (it would be the first time you did it).

Provide a link on how you owned me or else man up and admit you were wrong again.

I've have made no false claims, I have not lied.

You are the one constantly making the false claims and lying about an area you don't live in.

You are not a man but as stated blind and dumb and you obviously choose to be that way.

You are not man enough to come here to my face.

You are not worth my breath or my typed words.

You are just an anonymous asshole on the Internets.

 

[Doppel]

I've have made no false claims, I have not lied.

You are the one constantly making the false claims and lying about an area you don't live in.

You are not a man but as stated blind and dumb and you obviously choose to be that way.

You are not man enough to come here to my face.

You are not worth my breath or my typed words.

You are just an anonymous asshole on the Internets.

I already gave you an option on getting rid of me:

http://forums.anandtech.com/showpost.php?p=34183727&postcount=3786

You didn't take me up on my offer because you know you are a liar.

And your continued willful lies are in breach of the forum guidelines, which will earn you another vacation if you keep it up. You know this, so why continue it?

 

[Meghan54]

Price hasn't dropped at all here in Chicago area.

You're quite sure about that?

Looking at GasBuddy, while it's true that Chicago gas prices, on average, over the summer were well above $4/gal, it seems the average for Chicago right now, today, is around $3.51/gal, with spots cheaper (Speedway at 2302 S. Western Ave---$3.39/gal, or Costco at 1430 S. Ashland--$3.45/gal, among many others well below $4/gal.)

And get out of Chicago (more properly, Cook County), and prices plummet.

Why is Chicago so expensive for gas, esp. during summer? Taxes do indeed represent a good chunk of the cost.

But, in the Chicago area, prices spiked in early August because of a ruptured pipeline that spilled 1,000 barrels of crude oil onto a Wisconsinhttp://articles.chicagotribune.com/...llon-for-regular-fuel-beth-mosher-gas-prices# field before shutting down and cutting off a key supply of oil to the region. At the same time, several Midwestern oil refineries ratcheted back production because of temporary and unrelated problems at those plants.


The problems are worse in the Chicago area because service stations must sell an unusual formulation of summertime gasoline that relatively few refineries make. That makes the region more vulnerable to production glitches that wouldn't have as big an effect elsewhere.



If you're hating the high cost of living in Chicago, there are other areas that are quite a bit cheaper to live, like the SE U.S., like GA. You could move there and quit yer bitching.....it's not like IT jobs don't exist in the South.

 

[Londo_Jowo]

I paid $2.75/gal (including $0.10/gal discount) for gas this morning.

http://www.texasgasprices.com/Shell_Gas_Stations/Richmond/113096/index.aspx

 

[dmcowen674]

And get out of Chicago (more properly, Cook County), and prices plummet.

Why is Chicago so expensive for gas, esp. during summer? Taxes do indeed represent a good chunk of the cost.

But, in the Chicago area, prices spiked in early August because of a ruptured pipeline that spilled 1,000 barrels of crude oil onto a Wisconsin field before shutting down and cutting off a key supply of oil to the region. At the same time, several Midwestern oil refineries ratcheted back production because of temporary and unrelated problems at those plants.

The problems are worse in the Chicago area because service stations must sell an unusual formulation of summertime gasoline that relatively few refineries make. That makes the region more vulnerable to production glitches that wouldn't have as big an effect elsewhere.

If you're hating the high cost of living in Chicago, there are other areas that are quite a bit cheaper to live, like the SE U.S., like GA. You could move there and quit yer bitching.....it's not like IT jobs don't exist in the South.

Thank you

All you just did was confirm everything I have been saying while discrediting your liar buddies like lopped and jowo.

So why do you believe this Industry should get rewarded for incompetence?

Was it the fault of the people of Chicago the pipeline broke?

Was it the fault of the people of Chicago several refineries "ratcheted back production because of temporary and unrelated problems at those plants"?

 

[Doppel]

Thank you

All you just did was confirm everything I have been saying while discrediting your liar buddies like lopped and jowo.

Fair warning, Mcowen: I have asked you to indicate how/why you link contradicts something I have said. You are unwilling or unable. If you willfully misrepresent my statements in this thread I will report your posts. I have already informed you that intentional posing of misinformation is not allowed. Spreading your own lies is one thing, but I will not accept you libeling my statements.

 

[EagleKeeper]

Just arrived in the Chicago area. Working in Lake County at the Cook County line. 20 miles north of downtown.

Local prices for regular are showing in the 3.40-3.60 range.

Prices in Wisconsin just dropped below 3.20 this week.

 

[Londo_Jowo]

Thank you

All you just did was confirm everything I have been saying while discrediting your liar buddies like lopped and jowo.

So why do you believe this Industry should get rewarded for incompetence?

Was it the fault of the people of Chicago the pipeline broke?

Was it the fault of the people of Chicago several refineries "ratcheted back production because of temporary and unrelated problems at those plants"?

No, he just confirmed what most of us were saying, Chicago is required to run specially formulated fuels and has city/county taxes that most of the country doesn't use or have to pay. The blame for higher priced gas in Chicago lies with the politicians and the idiots that voted them into office.

 

[dmcowen674]

Just arrived in the Chicago area. Working in Lake County at the Cook County line. 20 miles north of downtown.

Local prices for regular are showing in the 3.40-3.60 range.

Prices in Wisconsin just dropped below 3.20 this week.

Welcome to the neighborhood.

 

[EagleKeeper]

Welcome to the neighborhood.

Only for a short time. I do not intend on becoming contaminated or paying a dime in Ill fuel taxes. Tolls are bad enough

 

[OverVolt]

You're quite sure about that?

Looking at GasBuddy, while it's true that Chicago gas prices, on average, over the summer were well above $4/gal, it seems the average for Chicago right now, today, is around $3.51/gal, with spots cheaper (Speedway at 2302 S. Western Ave---$3.39/gal, or Costco at 1430 S. Ashland--$3.45/gal, among many others well below $4/gal.)

And get out of Chicago (more properly, Cook County), and prices plummet.

Why is Chicago so expensive for gas, esp. during summer? Taxes do indeed represent a good chunk of the cost.

But, in the Chicago area, prices spiked in early August because of a ruptured pipeline that spilled 1,000 barrels of crude oil onto a Wisconsinhttp://articles.chicagotribune.com/...llon-for-regular-fuel-beth-mosher-gas-prices# field before shutting down and cutting off a key supply of oil to the region. At the same time, several Midwestern oil refineries ratcheted back production because of temporary and unrelated problems at those plants.


The problems are worse in the Chicago area because service stations must sell an unusual formulation of summertime gasoline that relatively few refineries make. That makes the region more vulnerable to production glitches that wouldn't have as big an effect elsewhere.



If you're hating the high cost of living in Chicago, there are other areas that are quite a bit cheaper to live, like the SE U.S., like GA. You could move there and quit yer bitching.....it's not like IT jobs don't exist in the South.

Sounds about as much as I suspected...dumb regulations cause the high price.

 

[EagleKeeper]

Sounds about as much as I suspected...dumb regulations cause the high price.

Part regulations. Part greed

 

[Wreckem]

Down to 2.85 where I am at.

 

[dmcowen674]

Sounds about as much as I suspected...dumb regulations cause the high price.

110% false

There are "regulations" all over the country.

Why the excuses?

How much are you pocketing?

 

[First]

Gas down again this week in both LA and Chicago.

Dave hates his life that much more this week.

 

[OverVolt]

110% false

There are "regulations" all over the country.

Why the excuses?

How much are you pocketing?

Its like the hotel regulations, where they had to install electric operated pool lifts or face steep penalties.

There were 180,000 hotels that had to install lifts, and the company that made the lifts could make at most 50,000 of them per year, and the hotels had a generous 6 months to comply. Prices skyrocketed.

So they require some kind of special blend that doesn't sell very well because of the already high chicago taxes, it costs them. Maybe they ship it in from the south, maybe they built a special refinery nearby and offload the cost onto consumers, who knows. But there is often a disconnect between reality and regulations.

 

[Wreckem]

Its like the hotel regulations, where they had to install electric operated pool lifts or face steep penalties.

There were 180,000 hotels that had to install lifts, and the company that made the lifts could make at most 50,000 of them per year, and the hotels had a generous 6 months to comply. Prices skyrocketed.

So they require some kind of special blend that doesn't sell very well because of the already high chicago taxes, it costs them. Maybe they ship it in from the south, maybe they built a special refinery nearby and offload the cost onto consumers, who knows. But there is often a disconnect between reality and regulations.

Actually, they have more than six months to comply. All they have to show is a lift is on order to comply by the Jan 31 deadline.

The pool lift issue, didn't really become an issue until the DOJ interpreted the 2010 legislation. Most hotels were buying or had mobile pool lifts, but then DOJ pulls the permanent lift requirement out of their ass, and says you won't be fined for a mobile lift, but you have to install one eventually.

And summer blends are why places like LA, Chicago and other urban areas have much much less smog during summer. The regs aren't the problem, the problem is there are too many summer blends. If they standardized a summer blend, summer gas prices wouldn't spike like they do. Instead, you have California blend, Atlanta blend, Chicago Blend, and the summer blend most places use. The most common blend is the one that that means Minimum EPA requirement. Atlanta is the next most prevalent, California is getting wide adoption in the Western US, and Chicago's wacky blend is only used in two states.

Summer blends will never be as cheap as winter blends because summer blends are way more processed. But if they only had one summer blend, the prices would be more or less negligible. Its a supply demand issue, more than a regulation issue. If every refinery produced the same summer blend, summer blends would be a lot cheaper. Not as cheap as winter, but way less than the prices in say Chicago, Milwaukee and much of the west coast.

 

[evident]

i just filled up gas for $3.20 in new jersey..... but republicans told me if i voted for obama gas was going to skyrocket?

 

[dmcowen674]

12-12-12

http://autos.yahoo.com/news/2012-s-average-gas-price-to-finish-at-record-hhigh-000832175.html

2012's average gas price to finish at record high



Despite recently hitting the lowest national average regular unleaded gas price since summer, AAA reported that the average price remains at a record high for this time of year; the national average has exceeded the daily record high on 106 consecutive days for a total of 220 days this year.


That's in addition to the near-certainty that 2012 will end with the highest annual average regular unleaded gas price on record, which to date stands at $3.63 a gallon.



The previous record was for 2011 with an annual average of $3.51 a gallon; prices would have to fall to an average of $2.05 a gallon from now until year's end to fall short of that, AAA stated.

"Prices unfortunately did not fall as quickly as most of us would have liked as a result of factors ranging from fighting in the Middle East to optimism over the 'fiscal cliff,' " AAA spokesman Avery Ash said in a statement.
===============================================
Fighting in the Middle East has been going on since the Dawn of time.

What does the Fiscal Cliff have to do with Gas Prices?

Is all the Gasoline going to fall of the cliff too?

 

[Londo_Jowo]

I'm just glad I live in an area with below average gas prices. Most stations close to my house are below $2.90/gal.

Too bad McOwned voted for crocks that require specially formulated gas and charge local tax.