Gas price check---just for 3R

[Neutron Monster]

Originally posted by millerbleach:

Does anyone know what the reason is for diesel fuel to be so high? Gas has dropped about a buck fifty, oil is almost half what it was and, diesel has dropped about 50 cents.

My understanding is its driven by the cost of refining diesel vs the cost of refining gas in the US.

http://www.nacsonline.com/YourBusiness/FuelsReports/GasPrices_2013/Pages/Why-Diesel-Costs-More-Than-Gasoline.aspx

 

[Neutron Monster]

Originally posted by millerbleach:

Originally posted by Neutron Monster:
Federal permits don't matter for drilling on non-Federal lands. Core of US growth is fracking on private land in ND and Texas. Feds haven't done anything material to impede that.

It's also true that Obama gets too much credit for oil production growth; what has happened in the US is a private sector story (they responded to high oil prices with ingenuity). Obama has allowed that to happen on a large scale to an extent similar to what a Republican President would allow.

The #1 thing driving drilling in the US is the price of oil. When oil is over $100, you're going to see everyone and their mother looking to drill new holes. When oil is in the $60s, you'll see news stories like what is attached. It just takes a long time for production growth (or decline) to show up given the lag time in these projects.

It would be a public relations nightmare to curtail private land drilling and that is the only reason they haven't tried to. If cutting permits is being "friendly" on oil production you clearly see things differently. Obama and Co are opposed to any energy that isn't unproven and yet people try to credit "increased production under his reign" as evidence he's on the right track.

Obama and co are supportive of nat gas to be used to replace coal.

 

[3Rfan]

Why would refining diesel cost more than gas? It should take less refining, it's some pretty oily stuff.

 

[Black&Gold82]

Originally posted by 3Rfan:
Why would refining diesel cost more than gas? It should take less refining, it's some pretty oily stuff.

I think that we export a lot of diesel.

 

[3Rfan]

That I could understand, not the refining costs.

Gas prices keep inching lower around here. Down to $2.33 and dropping a few cents a week.
This post was edited on 12/11 10:21 AM by 3Rfan

 

[Black&Gold82]

Originally posted by 3Rfan:
That I could understand, not the refining costs.

Gas prices keep inching lower around here. Down to $2.33 and dropping a few cents a week.

This post was edited on 12/11 10:21 AM by 3Rfan

I saw 2.19 yesterday

 

[millerbleach]

$2.19 in Spfld today.
Drill baby drill.

 

[millerbleach]

Originally posted by Neutron Monster:

Obama and co are supportive of nat gas to be used to replace coal.

Replace as opposed to in addition to. The market should determine what is used.

 

[millerbleach]

Originally posted by Neutron Monster:

The US produces about 9 million barrels of oil a day and we are using all of it - we have little to no spare capacity sitting idle. OPEC produces closer to 30 M. It doesn't take a math wizard to realize we can't ramp up enough to offset even a 10% cut in their supply.

You can repeat the lie about us being able to weather an OPEC supply cut 100 times and it doesn't magically become true. They could double the price of oil tomorrow if they wanted to.

There is no magic faucet to be turned on with oil. It takes time and years of investment to ramp up production. A sudden cut from OPEC in supply cannot be made up in the short term.

These pearls from the guy who stated that increasing US oil production would not mean lower gas prices because the oil would just be absorbed into the world market. We couldn't produce enough to affect prices it was said.

 

[Neutron Monster]

We aren't really driving prices down on our own. Weak demand and OPEC pumping over it's very high quota are important too.

US is an island of good news in a world of economic weakness. Global weakness the biggest factor affecting oil. It's the same thing keeping interest rates low and hurting non US stock markets.

 

[3Rfan]

Some expert guy on TV this morning also says OPEC is in to win it. They have NO plans to cut production to raise the price of oil because they want to knock down other oil producers that can't hold out long with prices under $60 a barrel and help us lose interest in alternative fuel sources. He says it could go to $40 and OPEC won't make a move. They have the money to hold out and they get their oil out of the ground a LOT cheaper than we can.

Gas down to $2.28 in P.B. this weekend and falling a penny or two nearly everyday.

 

[Neutron Monster]

They don't all have the money to hold out. That's what makes this interesting.

A lot of these countries have upped their budgets substantially.

 

[wcowherd]

I know at least for utilities solar is being talked about as a legitimate energy source. That's a substantial change from even 5 years ago.

 

[millerbleach]

$1.99 in Republic.

 

[3Rfan]

I saw a story recently about how many counties and cities are signing long term contracts with solar companies to provide a significant amount of their power. It has become much more competitive in price in the last few years. The solar companies say now they are to the point where they can be competitive even when the subsidies they receive go away.

 

[wcowherd]

At least in the short term solar is being thought of more as a backup for energy spikes and heavier energy loads, not as a true base load source, but that's still significant progress.
Posted from Rivals Mobile

 

[Neutron Monster]

Originally posted by 3Rfan:
I saw a story recently about how many counties and cities are signing long term contracts with solar companies to provide a significant amount of their power. It has become much more competitive in price in the last few years. The solar companies say now they are to the point where they can be competitive even when the subsidies they receive go away.

If you're in places like Hawaii or Arizona, the cost of solar is very compelling now.

 

[WCS Coach]

Paid $1.97 Friday night around Festus area.

 

[3Rfan]

$2.18 here, crawling slowly downward.

 

[millerbleach]

Filled up for $1.93 today.

 

[WCS Coach]

$1.95 this evening in Warrenton.

 

[millerbleach]

$1.87 in Springfield yesterday.

Drill baby drill.

 

[3Rfan]

$2.15 here. Got my .40 off at Krogers today so it was only $1.75. Filled my truck for $35.

This post was edited on 12/26 6:06 PM by 3Rfan