Gas prices in the news

Adolf_Twitler said:
The price of a gallon of Gasoline is so far removed from the Oval Office, it is almost a ridiculous charge that a president has anything to do with it.

Looking back through history, there have been exceptions to the rule though!

But, if some credible person, would like to tell us what Donald Trump has to do with the current price of a gallon of gas, I would listen.

Doesn't mean I would agree- or disagree automatically based on my politics.

So, someone- please convince me with facts! LOL!
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Oil edged up to $51 a barrel on Wednesday after reaching its lowest since June 2017 on perceptions that a price slide prompted by worries over the global economy had been overdone amid an OPEC-led effort to tighten supply.

https://www.foxbusiness.com/markets...News - Text)&utm_content=Yahoo Search Results

Its $42 per barrel in the US.............
 
Adolf_Twitler said:
The price of a gallon of Gasoline is so far removed from the Oval Office, it is almost a ridiculous charge that a president has anything to do with it.
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Didn't Obama take credit when gas prices fell?


Didn't DEMOCRATS and their shills try to give Obama credit for gas prices whenever they dipped during his Reign of Error?
 
kudzu said:
Oil edged up to $51 a barrel on Wednesday after reaching its lowest since June 2017 on perceptions that a price slide prompted by worries over the global economy had been overdone amid an OPEC-led effort to tighten supply.

https://www.foxbusiness.com/markets...News - Text)&utm_content=Yahoo Search Results

Its $42 per barrel in the US.............
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Which is very bad for Domestic drilling, because the American drillers won't bother to drill at that price- not for crude!!

That is why drilling companies in America don't use politics as a factor in their drilling decisions- it is about price!
 
Adolf_Twitler said:
Which is very bad for Domestic drilling, because the American drillers won't bother to drill at that price- not for crude!!
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Brent fell to $50 briefly yesterday so that made everyone nervous. By the middle of next year it should be back around $55-$60 which should be better for the industry.

OPEC price basket was $53.93 on Dec 20...
 
kudzu said:
Brent fell to $50 briefly yesterday so that made everyone nervous. By the middle of next year it should be back around $55-$60 which should be better for the industry.

OPEC price basket was $53.93 on Dec 20...
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The one who can be credited for establishing crude oil reserves- deserves most of the credit for today's low prices.

Because, prices at the pump, are a direct result of the Crude on hand, at any given time. That, and the availability and the amount of readily made gasoline on reserve as well!

When we convert from warmer months to colder months, we tend to see cheaper prices at the pump for obvious reasons.

Also, most states do not require Alcohol in the gasoline during the Fall and Winter months, making gasoline cheaper as well!

Again, has "0" to do with the executive branch!
 
Adolf_Twitler said:
The one who can be credited for establishing crude oil reserves- deserves most of the credit for today's low prices.

Because, prices at the pump, are a direct result of the Crude on hand, at any given time. That, and the availability and the amount of readily made gasoline on reserve as well!

When we convert from warmer months to colder months, we tend to see cheaper prices at the pump for obvious reasons.
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Strange, based on what lefties claimed when Bush was President, it was his fault. Sad thing is when prices were up under Obama, suddenly the excuses started flying.
 
Adolf_Twitler said:
The one who can be credited for establishing crude oil reserves- deserves most of the credit for today's low prices.

Because, prices at the pump, are a direct result of the Crude on hand, at any given time. That, and the availability and the amount of readily made gasoline on reserve as well!

When we convert from warmer months to colder months, we tend to see cheaper prices at the pump for obvious reasons.

Also, most states do not require Alcohol in the gasoline during the Fall and Winter months, making gasoline cheaper as well!

Again, has "0" to do with the executive branch!
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True.. the president doesn't have anything to do with that ... unless his foreign policy kills oil production in some foreign supplier.

Crude oil supply is "just in time" inventory.. Its a real losing deal to store it above ground.
 
Adolf_Twitler said:
Dude! I live in Texas- the capitol of Wildcat independent drillers. It is common knowledge here!
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So you made it up.

Surging oil drilling in Texas could cause Summer power shortages

By CHRISTOPHER MARTIN on 12/4/2018

https://www.worldoil.com/news/2018/12/4/surging-oil-drilling-in-texas-could-cause-summer-power-shortages
 
CFM said:
Strange, based on what lefties claimed when Bush was President, it was his fault. Sad thing is when prices were up under Obama, suddenly the excuses started flying.
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And, as I have showed, Obama himself took credit when gas prices dipped during his Reign of Error.

 
CFM said:
Strange, based on what lefties claimed when Bush was President, it was his fault. Sad thing is when prices were up under Obama, suddenly the excuses started flying.
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file.php
 
Factors affecting gasoline prices:

The four factors having the most impact on retail gasoline prices are: (1) the cost of crude oil, (2) refining costs and profits, (3) distribution and marketing costs and profits, and (4) taxes. The cost of crude oil is the primary component of the price we pay at the pump, responsible for approximately two-thirds of the cost of a gallon of gasoline.

The National Association of Convenience Stores states that there are approximately 42 gallons of crude oil in a barrel of crude oil, roughly 45% of which ends up as gasoline. A $1 increase in the cost of a barrel of crude oil ultimately results in about a 2.4 cent increase in the cost of a gallon of gasoline.

Crude oil prices are driven those by those Econ 101 factors of demand and supply. According to the U.S. Energy Information Administration, world economic growth is the most significant factor affecting demand, and as worldwide population increases and developing nations increasingly turn to energy sources to fuel their economies, the global demand for oil also increases.

On the supply side, the middle-eastern OPEC (Organization of the Petroleum Exporting Countries) countries still produce 42% of the world’s crude oil. Saudi Arabia, the big gorilla of petroleum-producing countries, alternates between flooding the market with crude oil and cutting back supplies, typically for strategies that have more to do with Saudi Arabian political and financial goals than a desire to impact American gasoline prices.

Saudi Arabia used to be the world’s largest oil producing nation, but over the last decade, American oil production has grown because of the increased effectiveness of extracting crude oil from shale, and the United States now produces nearly as much crude oil as Saudi Arabia.

However, extracting crude oil from shale is more expensive than extracting it from traditional sources. Because of this factor, Saudi Arabia has flooded the international market over the last year with low-priced crude oil in the hopes of squeezing the shale oil producers out of the market altogether.
 
Legion said:
So you made it up.

Surging oil drilling in Texas could cause Summer power shortages

By CHRISTOPHER MARTIN on 12/4/2018

https://www.worldoil.com/news/2018/12/4/surging-oil-drilling-in-texas-could-cause-summer-power-shortages
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Dude, I didn't care much for the Dallas TV Show either, but, it was an education on Independent Oil Drilling in Texas! LOL!
 
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