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Discussion Starter #1
I love the first sentence in this report on the reason for the increase in the price of gasoline. But then, you be the judge.
Prices are not going up because "X" was elected, they are going up because US and global oil demand is rising and because OPEC and other oil producers cut oil production last year. Now, as countries are seeing COVID improvements, demand is rising faster than supply is rising. OPEC has not yet agreed to pump more oil, so oil prices are up and that's pushing gas prices higher. This is exactly why gas prices last spring went down (lower demand as COVID hit) then rebounded from $1.74 per gallon nationally in May to $2.12 per gallon during the summer. Biden's policy and decision to cancel Keystone XL is something that may affect prices years from now, but not now since existing pipelines aren't even filled due to still lower demand vs pre-pandemic, and oil companies, which lost over $50 billion in 2020, aren't looking to even drill- not on federal land or on private land at this time- if they raise production it would be from existing wells.
 

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I am calling BS.
Yeah, the increase in gas usage always drives up the Price, but I think al lot of the increase is caused by the Threatening Attidude toward the Oil and Gas companies voiced by the joebiden administration.
 

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The gas prices started going up when trump was still president. Yes oil going up from $10 per barrel to $50 per barrel had something to with it, the winter prices taking effect also had something to do with it.
 

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Discussion Starter #4
And then they add the BS that switching from winter blends to summer blends drives the price up and again going from summer to winter. Of course the CEO having a hangnail will do it too.
 

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Out in the Baken Fields in North Dakota there are very few wells pumping. There isn’t any drilling being done at all. There are a few clean up rugs working on restoring old wells for future fracking
We don’t see many big oil tank car trains anymore.barely one a day now. Used to see 5-6 a day. Same goes for the fracking sand cars, flat cars hauling drill rod and well casing pipe.
The Dakota acesss line is now carrying all the Baken Crude production and its not even operating at full capacity. A couple years ago it was operating at full capacity but only moving a fraction of the Baken production.
Its pretty quite out there. Most of the oil field hands, around here are back home and waiting to go back to work.
Xell pipeline is shut down temporally. That line is moving Canadian Tar Sand crude only to Corpus Christi, Texas to load super tankers so they can get it to the world market and get a higher price. Presently that tar sand oil is being bought by refineries in Rosemount, Mn and Whiting, IN. We are their only customers. When the Xell line gets to Corpus Christi there is going to be a big jump in price which will raise gasoline prices.

With the Baken Field and the West Texas shale oil field, Onset of fracking in other older fields that is what moved the US away from being dependent on foreign oil. It also moved us away from $4 a gallon gasoline and down to $3 range for gasoline. The pandemic lowered the price some more along with the large amounts that was in storage. Now things are starting up demand for gasoline is up and reserves are low.
You can bet your last dollar that the crude oil production is not going to ramp up until they can turn a pretty profit again.

I have never seen any one filling a Cadillac or a Mercedes or a politician ever complain about the price of fuel.
Just us “deploreables” filling up our old wrecks. Let me know if you ever have seen one.
 

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Out in the Baken Fields in North Dakota there are very few wells pumping. There isn’t any drilling being done at all. There are a few clean up rugs working on restoring old wells for future fracking
We don’t see many big oil tank car trains anymore.barely one a day now. Used to see 5-6 a day. Same goes for the fracking sand cars, flat cars hauling drill rod and well casing pipe.
The Dakota acesss line is now carrying all the Baken Crude production and its not even operating at full capacity. A couple years ago it was operating at full capacity but only moving a fraction of the Baken production.
Its pretty quite out there. Most of the oil field hands, around here are back home and waiting to go back to work.
Xell pipeline is shut down temporally. That line is moving Canadian Tar Sand crude only to Corpus Christi, Texas to load super tankers so they can get it to the world market and get a higher price. Presently that tar sand oil is being bought by refineries in Rosemount, Mn and Whiting, IN. We are their only customers. When the Xell line gets to Corpus Christi there is going to be a big jump in price which will raise gasoline prices.

With the Baken Field and the West Texas shale oil field, Onset of fracking in other older fields that is what moved the US away from being dependent on foreign oil. It also moved us away from $4 a gallon gasoline and down to $3 range for gasoline. The pandemic lowered the price some more along with the large amounts that was in storage. Now things are starting up demand for gasoline is up and reserves are low.
You can bet your last dollar that the crude oil production is not going to ramp up until they can turn a pretty profit again.

I have never seen any one filling a Cadillac or a Mercedes or a politician ever complain about the price of fuel.
Just us “deploreables” filling up our old wrecks. Let me know if you ever have seen one.
Smartest thing you have said in a while. Next thing I will see you at a Hank Williams Jr. Concert.
 
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