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

Discussion in 'Politics and News' started by WhipperSnapper, Dec 10, 2010.

  1. dmcowen674

    dmcowen674 No Lifer

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    We have oil coming out the ass

    1-3-2013

    http://finance.yahoo.com/news/oil-prices-tumble-over-ample-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.
     
  2. Londo_Jowo

    Londo_Jowo Lifer

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    Aren't you sad that the drop in oil prices will result in lower gas prices?
     
  3. dmcowen674

    dmcowen674 No Lifer

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    1-7-2013

    http://chicago.cbslocal.com/2013/01...last-year-but-still-could-surpass-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[​IMG].

    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.
     
  4. dmcowen674

    dmcowen674 No Lifer

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    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.
     
  5. Londo_Jowo

    Londo_Jowo Lifer

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  6. dmcowen674

    dmcowen674 No Lifer

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    Jowo's buddies skirting taxes, big surprise:

    1-10-2013

    http://news.yahoo.com/lawmaker-says-shell-may-moved-alaska-rig-avoid-165214227--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.
     
  7. dmcowen674

    dmcowen674 No Lifer

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    1-9-2013

    http://www.bloomberg.com/news/2013-...-production-to-highest-level-in-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
     
  8. Londo_Jowo

    Londo_Jowo Lifer

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

    Svnla Lifer

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

    Wreckem Diamond Member

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    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.
     
    #4035 Wreckem, Jan 10, 2013
    Last edited: Jan 10, 2013
  11. Wreckem

    Wreckem Diamond Member

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    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.
     
  12. dmcowen674

    dmcowen674 No Lifer

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    :thumbsup: Excellent news, thanks you made my day.
     
  13. Londo_Jowo

    Londo_Jowo Lifer

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

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

     
  14. dmcowen674

    dmcowen674 No Lifer

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    Gas back over $4 in Chicago

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

    Doppel Lifer

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    no
     
  16. Londo_Jowo

    Londo_Jowo Lifer

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    Concur
     
  17. randomrogue

    randomrogue Diamond Member

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    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.
     
  18. Londo_Jowo

    Londo_Jowo Lifer

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    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.
     
  19. heymrdj

    heymrdj Diamond Member

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

    http://www.nbcnews.com/business/5-states-cheapest-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.
     
    #4044 heymrdj, Jan 29, 2013
    Last edited: Jan 29, 2013
  20. EagleKeeper

    EagleKeeper Discussion Club Moderator<br>Elite Member
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    Running about $3.70-$3.80 in northern burbs of Chicago.

    $0.20 cheaper across the state line in WI
     
  21. drebo

    drebo Diamond Member

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

    Londo_Jowo Lifer

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    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/Chevron_Gas_Stations/Richmond/107517/index.aspx
     
  23. heymrdj

    heymrdj Diamond Member

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    #4048 heymrdj, Jan 29, 2013
    Last edited: Jan 29, 2013
  24. Londo_Jowo

    Londo_Jowo Lifer

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  25. DucatiMonster696

    DucatiMonster696 Diamond Member

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    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.
     
    #4050 DucatiMonster696, Jan 29, 2013
    Last edited: Jan 29, 2013