Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
Born2bwire
Diamond Member
- Oct 28, 2005
- 9,840
- 6
- 71
2-26-2013
http://seekingalpha.com/article/122...going-up-and-heading-much-higher?source=yahoo
China Is Why Gas Prices Are Going Up And Heading Much Higher
Demand for gasoline in the United States has collapsed and it's not improving, especially on a per capita basis.
More fuel efficient cars is one thing, but "I can't afford the gas" is another and more influential factor in our collapse in gasoline consumption.
Just last year, in 2012, we shuttered four refineries, taking the total operable refineries down from 148 to 144.
The United States had 301 operable refineries in 1982.
As for total number of passenger vehicles registered in the U.S., according to the National Transportation Statistics, the following number of vehicles were registered in the following years:
2008: 255,917,663
2009: 254,212,610
2010: 250,272,812
Data only go out to 2010, but as you can tell, we're junking more cars in the U.S. than we're buying.
In 2011, China produced 18,418,876 vehicles. The U.S. produced only 8,653,560 vehicles.
According to People's Daily Online, a Chinese news organization, in 2012, the number of registered private cars reached 53.08 million units by the end of 2012. This was up 22.8% from a year earlier!
That same article points out that the aggregate motor vehicles registered in China exceeded 120 million, which was up 14.3% from a year earlier. I calculate that's 11.9 million new gas tanks.
http://seekingalpha.com/article/122...going-up-and-heading-much-higher?source=yahoo
China Is Why Gas Prices Are Going Up And Heading Much Higher
Demand for gasoline in the United States has collapsed and it's not improving, especially on a per capita basis.
More fuel efficient cars is one thing, but "I can't afford the gas" is another and more influential factor in our collapse in gasoline consumption.
Just last year, in 2012, we shuttered four refineries, taking the total operable refineries down from 148 to 144.
The United States had 301 operable refineries in 1982.
As for total number of passenger vehicles registered in the U.S., according to the National Transportation Statistics, the following number of vehicles were registered in the following years:
2008: 255,917,663
2009: 254,212,610
2010: 250,272,812
Data only go out to 2010, but as you can tell, we're junking more cars in the U.S. than we're buying.
In 2011, China produced 18,418,876 vehicles. The U.S. produced only 8,653,560 vehicles.
According to People's Daily Online, a Chinese news organization, in 2012, the number of registered private cars reached 53.08 million units by the end of 2012. This was up 22.8% from a year earlier!
That same article points out that the aggregate motor vehicles registered in China exceeded 120 million, which was up 14.3% from a year earlier. I calculate that's 11.9 million new gas tanks.
Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
Gas in Lexington dropped to $3.64 before rebounding to $3.79 and then $3.89 (in same day - yesterday).
I see where brent crude slipped to one month lows on Italian election concerns.
Oil here is still steady to declining but gasoline is anything but.
I see where brent crude slipped to one month lows on Italian election concerns.
Oil here is still steady to declining but gasoline is anything but.
2-26-2013
http://finance.yahoo.com/blogs/brea...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
Gas Prices Falling? Not So Fast, According to GasBuddy.com
A month-long, 15% sprint in gasoline prices may have finally been broken, but any relief motorists might feel will likely prove to be short-lived.
According to Patrick DeHaan, senior petroleum analyst at GasBuddy.com, the end of the unprecedented 32-day rally may be over, but a giant retreat is unlikely.
DeHaan says that we are at a record high for this time of year (i.e., winter driving season), which could send us into the summer refinery ramp-up process at already lofty levels.
Of course, a sudden drop in crude could occur at any time and garner some short-term relief, but drivers need to be careful what they wish for nothing lowers fuel prices faster than weak economic data (such as Thursday's update reading on Q4 GDP). It's a consumer conundrum if ever there was one, forcing people to choose between cheaper gas or a weaker economy.
"If there is any sort of brakes being applied to this recovery, I think we'll see backtracking," DeHaan says, albeit only by 5 to 10 cents a gallon.
http://finance.yahoo.com/blogs/brea...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
Gas Prices Falling? Not So Fast, According to GasBuddy.com
A month-long, 15% sprint in gasoline prices may have finally been broken, but any relief motorists might feel will likely prove to be short-lived.
According to Patrick DeHaan, senior petroleum analyst at GasBuddy.com, the end of the unprecedented 32-day rally may be over, but a giant retreat is unlikely.
DeHaan says that we are at a record high for this time of year (i.e., winter driving season), which could send us into the summer refinery ramp-up process at already lofty levels.
Of course, a sudden drop in crude could occur at any time and garner some short-term relief, but drivers need to be careful what they wish for nothing lowers fuel prices faster than weak economic data (such as Thursday's update reading on Q4 GDP). It's a consumer conundrum if ever there was one, forcing people to choose between cheaper gas or a weaker economy.
"If there is any sort of brakes being applied to this recovery, I think we'll see backtracking," DeHaan says, albeit only by 5 to 10 cents a gallon.
Great now explain to me how it is the fault of evil oil companies that Chinese citizens are picking up a love affair with the automobile again?
Off-topic: I love the wiki-link of car production stats. As it dramatically highlights what happens when markets are liberated from government intervention and control even China's current quasi-capitalist system which is not however a completely free-market. The distinction of even a little bit of individual economic freedom being afford in a nation versus government control of the entire economy is dramatic to say the least and in the case of China it does indeed highlight figuratively the awakening of a economic dragon.
Last edited:
Londo_Jowo
Lifer
Running out of lies to post?
BTW I will be changing roles where I work once again. Several of the VP's think with my knowledge and experience that I would better suited for a business development role. This comes with nice salary and perks to boot.
Congrats! Good to see someone making something positive happen. Far better than pointless, bitter brooding over things we can't control.
Londo_Jowo
Lifer
Thank you. I've learned over the years do what you think is best for the company for whom you work whilst providing the services the clients need or require and eventually it will pay off. Last year I was part of a team that put together a $8 million upgrade/overhaul package for a client in South America. Since taking my new role January 1st, I've helped with improving our business locally and it was noticed by upper management.
2-26-2013
http://www.marketwatch.com/story/oi...ttlement-of-the-year-2013-02-26?siteid=yhoof2
Oil falls to mark lowest settlement of the year
Oil futures fell Tuesday to the lowest settlement level of the year, with the uncertainty surrounding Italy's general election contributing to overall concerns about the European economy.
April crude CLJ3 +0.27% shed 48 cents, or 0.5%, to settle at $92.63 a barrel on the New York Mercantile Exchange.
That was the lowest close for a front-month contract since late December.
"The market seems to be concerned about the demand-side of the equation," said Jason Rotman, president of Lido Isle Advisors, with the euro-region economy focused on Italy.
==============================================
The Scammers are concerned?
http://www.marketwatch.com/story/oi...ttlement-of-the-year-2013-02-26?siteid=yhoof2
Oil falls to mark lowest settlement of the year
Oil futures fell Tuesday to the lowest settlement level of the year, with the uncertainty surrounding Italy's general election contributing to overall concerns about the European economy.
April crude CLJ3 +0.27% shed 48 cents, or 0.5%, to settle at $92.63 a barrel on the New York Mercantile Exchange.
That was the lowest close for a front-month contract since late December.
"The market seems to be concerned about the demand-side of the equation," said Jason Rotman, president of Lido Isle Advisors, with the euro-region economy focused on Italy.
==============================================
The Scammers are concerned?
Londo_Jowo
Lifer
2-27-2013
http://news.yahoo.com/analysis-once-prized-african-oil-struggles-markets-160330679.html
Once prized African oil struggles to find new markets
African crude exports to the United States could slip to a trickle this year as the world's top oil consumer enjoys a shale oil boom
Top U.S. refiners Valero and Phillips 66 said they have stopped importing light, sweet oil to the U.S. Gulf coast as new shale oil production combined with better pipeline flows has yielded cheaper domestic alternatives.
"The Seaway ramp-up and the other pipeline start-ups make it possible that WAF (West African) flows to the U.S. will fall to zero by end-2013," Citi analysts said, referring to the pipeline linking the U.S. mid-continent to Gulf Coast refiners.
The process of revising prices to be more competitive is likely to be painful for countries like Nigeria which are used to charging a big premium for their gasoline-rich oil, ideally matched for U.S. refiners and once considered top quality oil.
=================================================
Oil oil everywhere but Americans taking it up the ass by the Scammers here.
TrueGroundSpeed
It won't matter how much world or domestic crude reserves rise, what the production and refining capacity may be, or what the their total cost/gallon may be, Big Oil will reduce the refined supplies to nullify any effort at conservation keeping prices at the pump high and rising. Less production, higher unit profit, and higher total profit is Big Oil's realized dream.
James Thompson
Add this news to the recent revelation that the US has become a net exporter of oil products and you have-wait for it, RECORD HIGH PRICES at US gas pumps? Kinda puts the lie to drill, baby, drill. Any surplus the US generates will only go to China, NOT ease domestic prices. But it will generate an even fatter bonus for our beloved, bloated swine, er oil co ceos while they empty US wells to stabilize China's energy prices!
James
With the boom in production of natural gas and shale oil, the excuse that world demand is driving up energy prices no longer works. The flimsy excuses we get from the speculators are likewise bogus. Big Oil is manipulating supply at the refinery. In a normal market, refineries would not shut down in concert each spring, there would be more refineries, and the lower price of domestic crude would show up at the pump. The prices we are paying must be piling up countless billions in excess profits, but Congress has let it go on for a decade--why? It is throttling our economy, and we need to elect new people in 2014 to deal with it. We need to curb speculation, eliminate their tax write-offs, tax their excess profits, and break up Big Oil.
http://news.yahoo.com/analysis-once-prized-african-oil-struggles-markets-160330679.html
Once prized African oil struggles to find new markets
African crude exports to the United States could slip to a trickle this year as the world's top oil consumer enjoys a shale oil boom
Top U.S. refiners Valero and Phillips 66 said they have stopped importing light, sweet oil to the U.S. Gulf coast as new shale oil production combined with better pipeline flows has yielded cheaper domestic alternatives.
"The Seaway ramp-up and the other pipeline start-ups make it possible that WAF (West African) flows to the U.S. will fall to zero by end-2013," Citi analysts said, referring to the pipeline linking the U.S. mid-continent to Gulf Coast refiners.
The process of revising prices to be more competitive is likely to be painful for countries like Nigeria which are used to charging a big premium for their gasoline-rich oil, ideally matched for U.S. refiners and once considered top quality oil.
=================================================
Oil oil everywhere but Americans taking it up the ass by the Scammers here.
TrueGroundSpeed
It won't matter how much world or domestic crude reserves rise, what the production and refining capacity may be, or what the their total cost/gallon may be, Big Oil will reduce the refined supplies to nullify any effort at conservation keeping prices at the pump high and rising. Less production, higher unit profit, and higher total profit is Big Oil's realized dream.
James Thompson
Add this news to the recent revelation that the US has become a net exporter of oil products and you have-wait for it, RECORD HIGH PRICES at US gas pumps? Kinda puts the lie to drill, baby, drill. Any surplus the US generates will only go to China, NOT ease domestic prices. But it will generate an even fatter bonus for our beloved, bloated swine, er oil co ceos while they empty US wells to stabilize China's energy prices!
James
With the boom in production of natural gas and shale oil, the excuse that world demand is driving up energy prices no longer works. The flimsy excuses we get from the speculators are likewise bogus. Big Oil is manipulating supply at the refinery. In a normal market, refineries would not shut down in concert each spring, there would be more refineries, and the lower price of domestic crude would show up at the pump. The prices we are paying must be piling up countless billions in excess profits, but Congress has let it go on for a decade--why? It is throttling our economy, and we need to elect new people in 2014 to deal with it. We need to curb speculation, eliminate their tax write-offs, tax their excess profits, and break up Big Oil.
Londo_Jowo
Lifer
OverVolt
Lifer
- Aug 31, 2002
- 14,278
- 89
- 91
OverVolt
Lifer
- Aug 31, 2002
- 14,278
- 89
- 91
http://inflationdata.com/Inflation/images/charts/Oil/Inflation_Adj_Oil_Prices_Chart.htm
Starting around 1999 if you extrapolate that rate of price growth to 2030 etc. we're kinda screwed.
Besides the spike to $147 and crash to $39 there is actually a fairly clear trend in rising oil prices since 1999.
If you smooth it out you get a sort of baseline of what to expect for oil prices going forward.
Not good, really.
Starting around 1999 if you extrapolate that rate of price growth to 2030 etc. we're kinda screwed.
Besides the spike to $147 and crash to $39 there is actually a fairly clear trend in rising oil prices since 1999.
If you smooth it out you get a sort of baseline of what to expect for oil prices going forward.
Not good, really.
It's good if you are on the side of the Scammers like Jowo and Lopped and others.
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
Londo_Jowo
Lifer
Down another $0.02/gal to $3.57/gal this morning. $0.04/gal in two days.
http://www.texasgasprices.com/Shell_Gas_Stations/Richmond/113096/index.aspx
http://www.texasgasprices.com/Shell_Gas_Stations/Richmond/113096/index.aspx
2-28-2013
http://www.reuters.com/article/2013...feedType=RSS&feedName=financialsSector&rpc=43
Chevron says deepwater U.S. Gulf well flows 13,000 bpd
Chevron's net daily production in the Gulf of Mexico and the onshore fields in the region was 153,000 barrels of crude oil, 395 million cubic feet of natural gas and 16,000 barrels of natural gas liquids in 2012.
Peak output from all three fields is expected to be about 100,000 barrels of oil equivalent per day.
===========================================
Oil oil everywhere yet the scammers on here still insist there is not enough of it.
http://www.reuters.com/article/2013...feedType=RSS&feedName=financialsSector&rpc=43
Chevron says deepwater U.S. Gulf well flows 13,000 bpd
Chevron's net daily production in the Gulf of Mexico and the onshore fields in the region was 153,000 barrels of crude oil, 395 million cubic feet of natural gas and 16,000 barrels of natural gas liquids in 2012.
Peak output from all three fields is expected to be about 100,000 barrels of oil equivalent per day.
===========================================
Oil oil everywhere yet the scammers on here still insist there is not enough of it.
Londo_Jowo
Lifer
Great, this should help keep oil prices down. Also it's nice to know that Chevron will move forward with these platforms and require equipment that may be coming from the company for whom I work. Installation, commissioning, and future services make for good money.
Born2bwire
Diamond Member
- Oct 28, 2005
- 9,840
- 6
- 71
Londo_Jowo
Lifer
After working hard all day, I use ample quantities of cheap wine or cheap beer with tomato juice as well as an occasion swill of cheap rotgut whiskey!!!!
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