Gas prices surge as price of crude oil reaches highest level since 2014

**anatta** · 04-21-2018, 08:07 AM

Venezuela, OPEC, Libya's on and off supplies ( not part of OPEC)..who knows ?

**kudzu** · 04-21-2018, 08:10 AM

Originally Posted by anatta

Venezuela, OPEC, Libya's on and off supplies ( not part of OPEC)..who knows ?

Libya is part of OPEC......

**anatta** · 04-21-2018, 08:11 AM

Originally Posted by kudzu

Libya is part of OPEC......

you're right they were exempt from quotas..i have to look it up

Libya, along with Nigeria, was originally exempted from the OPEC oil production cuts, agreed last November. The country, like Nigeria, is heavily dependent on oil revenues and was struggling—as it still is—with a rising budget deficit and soaring inflation amid continuing conflicts between various armed groups.

I gotta start paying attention to Libya again

**kudzu** · 04-21-2018, 08:13 AM

Originally Posted by anatta

you're right they were exempt from quotas..i have to look it up

Actually last December they were persuaded to accept production limits.

OPEC's Surprise Oil Deal With Libya Doesn't Mean Much for Markets ...

https://www.bloomberg.com/.../opec-s...bya-seen-as-em...

Dec 6, 2017 - OPEC appeared to score a diplomatic coup last week by persuading Libya, its most troubled member, to accept production limits. In reality, the agreement probably means little for the oil market. The Organization of Petroleum Exporting Countries and its partners agreed on Nov. 30 to persevere with supply ...

**anatta** · 04-21-2018, 08:18 AM

^ ya but it goes back and forth

Back in the 1970’s, Libya was producing 3 million barrels of oil per day. This identified Libya as a key supplier of sweet crude oil to Europe. At the time of Gaddafi’s death, the country’s crude production sank to about 1.6 million barrels of oil per day. Currently, Libya is struggling to maintain a production level of 1 million barrels per day.

security at the oil fields seems to be the problem or pipleines..
I'd have to look at it, and i'm just on a work break

**kudzu** · 04-21-2018, 08:43 AM

Originally Posted by anatta

^ ya but it goes back and forth security at the oil fields seems to be the problem or pipleines..
I'd have to look at it, and i'm just on a work break

Gaddafi just about killed the oil business in 1969 when he took over and prematurely nationalized it. They have pumped 1.2-1.3 million forever.. and it fell way below that when war broke out. So much of Libya's production is in the east... in Sirte, Marsa Brega etc... where militias are still a problem.

**anatta** · 04-21-2018, 09:41 AM

Originally Posted by kudzu

Gaddafi just about killed the oil business in 1969 when he took over and prematurely nationalized it. They have pumped 1.2-1.3 million forever.. and it fell way below that when war broke out. So much of Libya's production is in the east... in Sirte, Marsa Brega etc... where militias are still a problem.

militias are all over the place. I think you mean rival governments ( Haftar). But militias as well

BTW what ever happened to the general?? is he dead?

**kudzu** · 04-21-2018, 10:03 AM

Originally Posted by anatta

militias are all over the place. I think you mean rival governments ( Haftar). But militias as well

BTW what ever happened to the general?? is he dead?

I don't know.. I thought he was in a coma in Paris, but there are several conflicting reports.

**anatta** · 04-21-2018, 10:07 AM

Originally Posted by kudzu

I don't know.. I thought he was in a coma in Paris, but there are several conflicting reports.

US politics have been so crazy...I'll do some reaearch after work..thanks

**Cancel 2018.2** · 04-21-2018, 10:10 AM

Originally Posted by Jarod

I remember when the Republicans were blaming Obama for a short spike in gas prices!!

I remember when liberals argued he wasn't and when liberals blamed Bush, but not Obama when gas prices rose. And of course, here they are again blaming a president because he isn't a Democrat.

And in reality, pubs blamed Obama to show you liberals what massive hypocrites you are.

**Cancel 2018.2** · 04-21-2018, 10:12 AM

Originally Posted by Mason

But Obama,the standard answer from toxic light.

The post wasn't about Obama, moron. Do you think Trump is responsible and do you believe Obama was responsible for high gas prices?

**kudzu** · 04-21-2018, 10:12 AM

Originally Posted by Yaya

I remember when liberals argued he wasn't and when liberals blamed Bush, but not Obama when gas prices rose. And of course, here they are again blaming a president because he isn't a Democrat.

And in reality, pubs blamed Obama to show you liberals what massive hypocrites you are.

Silly to blame Bush... Presidents don't control the oil business. What's your point?

**Sirthinksalot** · 04-21-2018, 10:42 AM

Originally Posted by signalmankenneth

Will Trump take credit? There goes those Trump/GOP tax cut savings?!!

http://www.myrecordjournal.com/News/...-the-pump.html

https://www.upi.com/GasBuddy-With-ga...7441524228764/

https://www.consumeraffairs.com/news...ek-041918.html

I would think global warming alarmists like you would welcome this news.

**Callinectes** · 04-21-2018, 12:21 PM

Originally Posted by Mason

I find it amazing that every day gas is a different price,but no matter where you go to buy it,which company station,it's always the same price at all stations.
But the oil companies claim not to be in collusion?

Wrong, at least in Florida

**Callinectes** · 04-21-2018, 01:00 PM

Originally Posted by Jarod

I remember when the Republicans were blaming Obama for a short spike in gas prices!!

Yes, and I joined in after this: http://www.politifact.com/truth-o-me...will-skyrocke/
I heard that and panicked to a certain degree because this was big government making things worse, as they are wont to do. And yes, I remember prices easing when that stupid cap and trade scheme of his fizzled out