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

[dmcowen674]

Oil gains ~5% in one day

8-2-2012

http://www.marketwatch.com/story/oi...ta-but-nat-gas-slips-2012-08-03?siteid=yhoof2

Oil rallies nearly 5%

Crude-oil futures rallied nearly 5% Friday, spurred by optimism following a positive U.S. jobs report and as Wall Street traded sharply higher and the dollar lost some ground.

Hopes for more oil demand stoked markets after the Labor Department reported the fastest pace of job growth since February.
Nonfarm payrolls expanded by 163,000 workers in July. That outpaced expectations of a rise around 100,000 on the month.

Further helping crude rebound, the dollar traded lower, losing some of its safe-haven luster.
============================================

I remember not too long ago when the Rich in here insisted that Oil/Gas was all the free market and supply and demand.

I take full credit for squashing that lie with over ten years of posting on this scum Industry.

 

[dmcowen674]

Oil closing in on mid 90's

8-6-12


http://news.yahoo.com/oil-prices-ease-back-surge-113414815.html
Oil prices rise on Mideast tensions, storms


Oil prices rose Monday amid rumors of an attack on Syria's embattled leader and as Tropical Storm Ernesto appeared likely to grow into a hurricane that could disrupt Gulf of Mexico oil operations.

In the Caribbean, Tropical Storm Ernesto picked up strength and was expected to reach hurricane force later in the day, threatening the coasts of Belize and Mexico, US weather forecasters said.

The center's map for the expected path of the storm had it directly headed for Mexico's key offshore oil fields.

Phil Flynn at Price Futures Group said that traders were also watching storms covering the eastern coast of Florida.


"It is an unorganized band of storms right now that traders are watching because this little band of storms could slow imports into the Gulf of Mexico," Flynn said.

 

[dmcowen674]

All of the stations in the downtown core are now at $4.59




Price Station Area Thanks update Marathon 335 N Ogden Ave & Carroll Ave


Chicago - Central reb4

1 hour ago
update Marathon 1121 S Jefferson St & Grenshaw St


Chicago - Central crazycar

3 hours ago
update Marathon 5200 N Cicero Ave & Foster Ave & Edens Expy


Chicago - NW tommyz23

6 hours ago
update CITGO 1549 W Roosevelt Rd & S Ashland Ave


Chicago - Central rgemeinh

1 hour ago
update Shell 3510 S Ashland Ave & 35th St


Chicago - South toytech3

3 hours ago
update BP 1600 N Elston Ave & North Ave


Chicago - Central nanis1991
4 hours ago
update BP 755 W Lawrence Ave & Marine Dr & Clarendon Ave


Chicago - North DangerFed

5 hours ago
update CITGO 5547 N Kedzie Ave & Bryn Mawr Ave


Chicago - NW Dr_Fly

5 hours ago
update Mobil 4540 S Pulaski Rd near 45th St


Chicago - SW PeachiestofLV

6 hours ago
update BP 2357 W Fullerton Ave & Western Ave


Chicago - North Acie

7 hours ago
update Mobil 1106 W Fullerton Ave & Seminary Ave


Chicago - North sound48

9 hours ago
update CITGO 1549 w roosevelt rd


Chicago toytech3

13 hours ago
update Mobil 1234 N Halsted St & Division St


Chicago - Central harley4102

15 hours ago
update BP 1647 N LaSalle Blvd & Clark St


Chicago - Central harley4102

15 hours ago
update Shell 130 W North Ave & LaSalle Blvd


Chicago - Central harley4102

15 hours ago

 

[dmcowen674]

Oh and ~$4.59 is closer to ~$5 than ~$4

so yes, ~$5 gas is back in Chicago once again.

Going for ~$6 by Labor Day

 

[Londo_Jowo]

Are we supposed to be angry or happy you're paying more than most of us?

 

[Doppel]

Oh and ~$4.59 is closer to ~$5 than ~$4

so yes, ~$5 gas is back in Chicago once again.

Going for ~$6 by Labor Day

I guess rounding to the nearest dollar is an effective way for those who struggle with 1/100's to understand numbers.:thumbsup:

 

[Charles Kozierok]

Oh and ~$4.59 is closer to ~$5 than ~$4

so yes, ~$5 gas is back in Chicago once again.

Hope you don't work for those Guinness people.

 

[dmcowen674]

I guess rounding to the nearest dollar is an effective way for those who struggle with 1/100's to understand numbers.:thumbsup:

Lets see your math

Is 4.6 closer to 4.0 to you than 5.0?

 

[dmcowen674]

Bend over Californians

I'm sure this will be an excuse to raise prices nationwide as well.


8-6-2012

http://news.yahoo.com/big-fire-hits...dents-ordered-indoors-025123621--finance.html

Chevron's California refinery fire contained, not out yet

A massive fire struck at the core of Chevron Corp's large Richmond, California, refinery on Monday, spewing flames and a column of smoke into the air, threatening a prolonged outage that may increase prices of the costliest U.S. gasoline.


The fire has blazed more than three hours after it erupted at the refinery in a densely populated industrial suburb of San Francisco. Smoke could be seen billowing over the Bay Area and four train stations were shut.


Nearby residents were ordered indoors after the fire hit the sole crude unit at the 245,000 barrel per day (bpd) plant, which accounts for one-eighth of California state's refining capacity.

The fire had started in the No. 4 crude unit, the only one at the plant, at 6:15 p.m. shortly after a leak was discovered

Crude distillation units (CDUs) break down oil into feedstock for other units in a refinery. It can take months to repair a CDU at a large plant, during which operations are typically severely limited.


Any lengthy disruption in production could affect the supply of fuel in the West Coast, particularly gasoline, due to the difficulty in meeting California's super-clean specifications.



The region also has few immediate alternative supply sources.


"Chevron will have a hard time finding replacement barrels in an already short market," said Bob van der Valk, a petroleum industry analyst in Terry, Montana.


"Refineries are already drawing down summer blend inventory in anticipation of the switch back to winter blend gasoline."

The refinery, the third largest in California and among the oldest in the country, is key to the economy of Richmond, a declining industrial city.

But it has stirred controversy among local residents concerned about the environmental impacts and local politicians often seeking more tax revenues.

It is common to shut down the entire plant in the event of a major blaze.

A February 17 fire at the CDU of BP Plc's 225,000 bpd Cherry Point, Washington, refinery led to a three-month shutdown and sent the regional price premium to more than $1 (64 pence) a gallon in some places.

 

[Pneumothorax]

Bend over Californians

I'm sure this will be an excuse to raise prices nationwide as well.


8-6-2012

http://news.yahoo.com/big-fire-hits...dents-ordered-indoors-025123621--finance.html

Chevron's California refinery fire contained, not out yet

A massive fire struck at the core of Chevron Corp's large Richmond, California, refinery on Monday, spewing flames and a column of smoke into the air, threatening a prolonged outage that may increase prices of the costliest U.S. gasoline.


The fire has blazed more than three hours after it erupted at the refinery in a densely populated industrial suburb of San Francisco. Smoke could be seen billowing over the Bay Area and four train stations were shut.


Nearby residents were ordered indoors after the fire hit the sole crude unit at the 245,000 barrel per day (bpd) plant, which accounts for one-eighth of California state's refining capacity.

The fire had started in the No. 4 crude unit, the only one at the plant, at 6:15 p.m. shortly after a leak was discovered

Crude distillation units (CDUs) break down oil into feedstock for other units in a refinery. It can take months to repair a CDU at a large plant, during which operations are typically severely limited.


Any lengthy disruption in production could affect the supply of fuel in the West Coast, particularly gasoline, due to the difficulty in meeting California's super-clean specifications.



The region also has few immediate alternative supply sources.


"Chevron will have a hard time finding replacement barrels in an already short market," said Bob van der Valk, a petroleum industry analyst in Terry, Montana.


"Refineries are already drawing down summer blend inventory in anticipation of the switch back to winter blend gasoline."

The refinery, the third largest in California and among the oldest in the country, is key to the economy of Richmond, a declining industrial city.

But it has stirred controversy among local residents concerned about the environmental impacts and local politicians often seeking more tax revenues.

It is common to shut down the entire plant in the event of a major blaze.

A February 17 fire at the CDU of BP Plc's 225,000 bpd Cherry Point, Washington, refinery led to a three-month shutdown and sent the regional price premium to more than $1 (64 pence) a gallon in some places.

It seems all too convenient. Light a fire at a refinery=$1 million in damage=$100 million in extra profit=win

I also do seriously blame CA's f$%^tard libs who demand different blended gasoline that has no proven benefit other than higher prices and taxes.

Before anyone says 'electric cars FTW', know that CA's grid barely handles the current load that's being put on it, I pay double for my electricity than my cousin who lives in Tx, and thanks to AB32, our price of electricity will continue to go up exponentially!

 

[fleshconsumed]

I was looking at the gas prices yesterday and was kind of scratching my head seeing $4.15 for regular. I was thinking maybe I missed something, an oil price jump perhaps. Nope, doesn't seem like it, but today I open CNN and they have a nice chart.

http://money.cnn.com/news/storysupplement/economy/gas_prices_by_state/?iid=HP_LN

I really do not understand how the hell does IL have second highest gas prices in the nation (HI takes the lead)... :\

 

[dmcowen674]

I was looking at the gas prices yesterday and was kind of scratching my head seeing $4.15 for regular. I was thinking maybe I missed something, an oil price jump perhaps. Nope, doesn't seem like it, but today I open CNN and they have a nice chart.

http://money.cnn.com/news/storysupplement/economy/gas_prices_by_state/?iid=HP_LN

I really do not understand how the hell does IL have second highest gas prices in the nation (HI takes the lead)... :\

That's quite a fancy web page they got going there.

It somehow averages the entire state.

Anyway in Illinois may be able to find gas at ~$4.04 downstate but not up near Chicago. It's closer to ~$4.15 in the burbs and ~$4.59 in the city.

I saw on the CBS national news last night a woman reporter at a gas station in Washington DC with the price at ~$4.99 for regular

 

[Londo_Jowo]

I really do not understand how the hell does IL have second highest gas prices in the nation (HI takes the lead)... :\

State and local taxes on gas as well as requiring special blended gas.

 

[dmcowen674]

8-9-2012

Oil passes $95

http://finance.yahoo.com/q?s=clg13.nym

Crude Oil Feb 13 (CLG13.NYM)

-NY Mercantile

95.16

0.11(0.12%) 2:38PM EDT



Add to Portfolio
Prev Settlement:N/AOpen:95.50Bid:95.15Ask:95.18Day's Range:94.91 - 95.75Volume:6,104Open Interest:N/ASession:
Exp. Date:N/A

 

[Svnla]

Gas jumps 35 cents in less than a week, from $3.20 to $3.55/gal of regular unleaded.

 

[debian0001]

I live in Chicago and work 10 minutes away from my place. I haven't bought gas in the city in 3 years. I usually go to the burbs to get it when I visit the family.

 

[chucky2]

I was looking at the gas prices yesterday and was kind of scratching my head seeing $4.15 for regular. I was thinking maybe I missed something, an oil price jump perhaps. Nope, doesn't seem like it, but today I open CNN and they have a nice chart.

http://money.cnn.com/news/storysupplement/economy/gas_prices_by_state/?iid=HP_LN

I really do not understand how the hell does IL have second highest gas prices in the nation (HI takes the lead)... :\

That's quite a fancy web page they got going there.

It somehow averages the entire state.

Anyway in Illinois may be able to find gas at ~$4.04 downstate but not up near Chicago. It's closer to ~$4.15 in the burbs and ~$4.59 in the city.

I saw on the CBS national news last night a woman reporter at a gas station in Washington DC with the price at ~$4.99 for regular

State and local taxes on gas as well as requiring special blended gas.

How do you think IL finances it's corruption and mismanagement?

 

[AznAnarchy99]

California back up over $4. Sigh... at least summer is almost over and I was able to commute to work for $3.40 for a while.

 

[WhipperSnapper]

I like having a 1.5 mile commute to and from work.

 

[MrMuppet]

In Sweden gas prices peaked at almost 16 SEK / litre this year.

(16 sek / usd) * (gallon / litre) = 9.04465093

That's $9 per gallon. Carbon taxes ftw!

 

[dmcowen674]

California back up over $4. Sigh... at least summer is almost over and I was able to commute to work for $3.40 for a while.

Did you file your claim against the refinery yet?

8-10-2012

http://news.yahoo.com/higher-gas-prices-expected-refinery-fire-074729359--finance.html

Hundreds file claims after refinery fire


Hundreds of people contacted attorneys and were expected to file claims against Chevron for breathing problems and other health issues stemming from the thick black smoke that spewed from the facility during the fire.


The company has set up a compensation fund and distributed phone numbers that can be used to file claims. The initial phone lines were overwhelmed by callers, and the company said it was arranging help to meet the demand.

Chevron could not estimate when the damaged unit would be back in production. The company also said it did not know when investigators would have access to the site.

Horowitz said investigators will also be evaluating Chevron's emergency response system and other concerns raised by the community.

The Richmond refinery produces 16 percent of the region's daily gasoline supply. The fire knocked out a unit that makes a specialized blend of cleaner burning gasoline that satisfies air quality laws in California, Oregon and Washington.

 

[dmcowen674]

3-1-2012

http://www.usatoday.com/money/industries/energy/story/2012-02-22/gas-prices-average/53229358/1

More drivers than ever may pay $5 per gallon

More drivers than ever could soon be paying $5 for a gallon of gasoline.

Rising oil prices, lower refining capacity, Middle East tension and speculators are propelling prices.

Florida drivers are paying $5.89 a gallon near Disney World,

 

[dmcowen674]

8-13-2012

http://content.usatoday.com/communi...ss-usa-now-top-4-in-california/1#.UCu5I6OlEek

Gas prices surge across USA, now top $4 in California



Gas prices surged in the past week to $3.721 a gallon nationally for regular, up 8 cents for the week in the government's weekly price survey.



In the Energy Information Administration survey released today, gas averaged $4.096 in California, up from $3.868 last week. Reason: a refinery fire in Richmond, Calif., last week that knocked out production.


Cheapest?



The refinery-rich Gulf Coast has gas averaging $3.488 a gallon, up 7 cents a gallon.


============================================

I say we should call for a $1 gas surcharge for the "refinery rich Gulf Coast".

Just like baseball spreads the wealth from the bigger markets to line the pocket of the owners in the smaller markets.

The people in the gulf should be offsetting the higher profits of their oil thug brethren across the country.

 

[dmcowen674]

8-15-2012

http://www.usatoday.com/money/industries/energy/story/2012-08-14/gas-prices-rise/57059104/1

2012 gas prices head for record



Gasoline prices are up sharply in the past month on surging crude oil costs and refinery woes, and now are likely to make 2012 the costliest year ever at the pump.


Nationally, gasoline averages $3.70 a gallon — up 30 cents since mid-July and is now higher than year-ago levels in 39 states.


Fallout from production cuts at four Illinois refineries has pushed prices in Illinois and Michigan to $4 or higher


Scott Anderson, chief economist at Bank of the West, says if prices continue to rise, they could crimp a rebound in consumer spending.


"The $4 threshold is when you see sticker shock and marked changes in consumer behavior and spending patterns,"


"When prices come down, that really revives disposable income. The longer we see these highs, the more impact you'll see on consumer spending."


Michael Green, spokesman for auto club AAA, says most consumers have locked in vacation plans for the summer and aren't likely to curtail trips. "Whenever prices rise, it has a major effect on what people spend and save," Green says. "People are still going to take extended trips, but they might decrease what they spend on souvenirs or cut back on that expensive dinner."

 

[Londo_Jowo]

No change here in the past few weeks.