steve66613

Yeh....that THREE DAY shutdown really should have had a direct impact on the gasoline supply.

crazylibertarian Loc: Florida by way of New York & Rhode Island

The entire Democratic and progressive platform is rhetoric & unfounded conjecture.

Parky60 Loc: People's Republic of Illinois

Refineries close all the time for wh**ever reason and prices go up for a short period then go back down. Not by over a $1 a gallon though. When will they come down this time...NEVER!

America 1 Loc: South Miami

Doomsday Scenario of $6 Gas Under Biden
Joe Biden’s plans for discouraging the use of f****l f**ls would “plunge America back in a depression” and could drive gasoline prices to $6 per gallon, billionaire oilman Harold Hamm said Thursday, well beyond any level previously recorded.
https://www.bloomberg.com/news/articles/2020-10-22/trump-backing-oilman-hamm-says-6-gasoline-possible-in-biden-win

permafrost Loc: Minnesota

Good morning to you nwtk, and happy Texas independence day if you are one of the many Texacans on OPP..

I doubt anyone in the world expects to "do away with oil and gas".. I know that you understand the difference between reducing and removing..

The object, the needed action is to reduce the use of f****l f**ls as much as possible.. it will be done via the market activity. Just as the great reduction in the use of coal..

permafrost Loc: Minnesota

It is not the impact, it is the excuse... just as always..

permafrost Loc: Minnesota

Good morning Parky, you could be correct about that.. only if Russia and SA start another price war will the reach notable lows.. that was the driving force for the last reduction, along with the c***d crisis which reduced the demand for fuel.. Those two things will not be seen again in my expectations..

permafrost Loc: Minnesota

good morning America..

That sort of increase will not happen any time soon and probably never..

What is it you think the president can do to drive pump prices to that level?

This is an interesting article on the subject, we should all read this sort of information as a reminder of what drives gas pump prices..

https://money.howstuffworks.com/president-gas-prices.htm


Critics of any president are quick to blame the commander in chief for things that are totally beyond his or her control. (Of course, presidents and their supporters are equally quick to take credit for things that are beyond their control.) The price of gasoline is a perfect example. Donald Trump and his fellow Republicans took credit for low gasoline prices in 2019 [source: Rainey]. And when George W. Bush was in office, Democrats blamed him for allowing gas prices to rise from $1.45 a gallon on his inauguration day to $4.05 a gallon by June 2008 [source: Thaler].

The t***h is that no president — Democrat or Republican, friend of "big oil" or supporter of alternative fuels — can do much of anything to affect the short-term price of oil, and therefore gasoline. The overriding factor that determines the price of oil from day to day is the market principle of supply and demand [source: U.S. Energy Information Administration]. It comes down to simple economics: When demand is greater than supply, prices rise.

The actual price of a barrel of oil is constantly changing, since oil is a commodity that is traded on the futures market. Buying and selling oil futures is called speculating, because you're making trades based on expectations of future supply and demand.

America 1 Loc: South Miami

The price of unleaded gasoline (RBOB NYMEX) first of November 2020 1.12 today 1.94.
82 cent increase X $420.00 each cent, $34,440.00 per contract.
November 2, 2020 $2.05 regular
End of February 2021 $2.74 in West Palm Beach.
Florida gas prices reach a 19-month high
https://www.news4jax.com/money/2021/03/01/florida-gas-prices-reach-19-month-high/
National average gas prices
Regular Mid-Grade
Current Avg. $2.729 $3.044
Yesterday Avg. $2.720 $3.034
Week Ago Avg. $2.645 $2.957
Month Ago Avg. $2.424 $2.752

America 1 Loc: South Miami

According to the government of Alberta, the province’s oil sands represent the third-largest oil reserves in the world, following Venezuela and Saudi Arabia. Its reserves equal about 165.4 billion barrels, and capital investments to the upstream sector have equaled as much as $28.3 billion in 2016 and $26.5 billion in 2017.

Furthermore, according to Natural Resources Canada, 98% of Canada’s crude oil exports in 2019 went to the U.S.

Those investments and vast oil reserves have also resulted in significant investments in other areas of the energy sector, including investments in pipelines.

The pipelines bring Canadian heavy crude south to U.S. refineries because American refineries were built and optimized to mostly handle heavier crude oil, according to Rob Benedict, vice president of chemicals and midstream for the American Fuel and Petrochemical Manufacturers Association.

Crude oil pipelines from Canada to the U.S. have been viewed as an efficient way to t***sport large amounts of Canadian heavy crude oil to U.S. Gulf Coast refineries.
TC Energy’s 1,210-mile Keystone XL pipeline would have had a capacity of 830,000 barrels per day with crude oil originating from Hardisty, Alberta, and heading to Steele City, Nebraska, where it would then be shipped to U.S. Gulf Coast refineries. Had construction continued, the pipeline would have entered service in 2023.
https://www.freightwaves.com/news/what-keystone-pipeline-cancellation-means-for-crude-by-rail

Holdenbeach4u Loc: Holden Beach , NC

I lived on the coast NC , gas was $1.72 per gal Nov 3,2020 now Gas at $2.29 on March 2, 2021. I figure by the time end the year 2021 , gas be pushing $3.50 or more !

silvereagle

Big oil isnt going to build any new refineries.Why should it.The epa is the big thorn in their ass.$7.00 a gallon gas will k**l the country once and for all.Can you imagine $10.00 a gallon for milk or $6.00 for a loaf of bread

teabag09

The prices were on the rise before the Texas refinery shut downs. Mike

permafrost Loc: Minnesota

Canadian shale oil is near identical to the oil from the ND, Montana area.. it is the most costly to extract and refine in the world.. that is why the Russia/SA crude oil war shut done the US oil companies so quickly..

It also should be noted that the Canadian v**ers refused to have the pipeline built through Canada to their west coast as was first proposed.. Asia was the assumed consumer..

refiners, which are now a last built facility should never have been built with shale oil refining as the commodity.. the rest of the world has not done so. They become the most costly, both in construction and operations..

Armageddun Loc: The show me state

That only proves how the democrats have bought off almost all law officials and how one-sided things are.