Oil Prices

[PennBF]

This says a lot ! Want to know about the higher gas prices??

"Russia celebrates landmark victory as it steals USA's energy security
Pravda Today. :ohdear

[Stu from NYC]

Sad that we are back to purchasing fuels from others many of which are not our friends

[blueash]

You didn't bother to supply the link, so HERE (https://english.pravda.ru/world/21677-russia_usa_oil/) it is. Maybe you could have summarized what Pravda is saying as it certainly is a reliable source, right?

At the end of 2020, the United States increased imports of Russian oil and petroleum products to a maximum since 2011, the Energy Information Administration (EIA) said.

The USA buys 538,000 barrels per day, which marked a yearly increase of 3.5 percent to 7 percent of total purchases. Russia has thus become the second largest exporter of oil and oil products to the United States, having displaced Saudi Arabia from this position.

The record was primarily achieved due to exports of petroleum products, since oil exports from Russia to the United States in 2020 fell by 45 percent to 73,000 barrels per day (8th largest oil supplier to the United States).


Читайте больше на USA can not do without Russia's oil products (https://english.pravda.ru/world/21677-russia_usa_oil/)

In summary, the numbers being discussed are through the end of 2020, having nothing to do with any decisions since that time. And oil imports in the US from Russia dropped in 2020, certainly in large part because of reduced demand from Covid.

According to Bloomberg, Exxon Mobil Corp., Chevron Corp., Valero Energy Corp. accept Russian oil at their refineries in Texas and Louisiana.

According to the agency, this is due to the embargo on the imports of Venezuelan fuel oil, which the USA replaces with Russian fuel oil, but not with raw materials from other countries, since US refineries can use fuel oil of certain consistencies.


Читайте больше на USA can not do without Russia's oil products (https://english.pravda.ru/world/21677-russia_usa_oil/)

Now PennBP explain how those facts relate to the recent increase in gasoline prices (https://www.politifact.com/article/2021/mar/02/are-gas-prices-going-and-it-joe-bidens-fault/)?

[Arctic Fox]

Maybe it's time we reduced our per capita usage of petroleum products (from more than five times the global average) so that we are self-sufficient

[Joe V.]

Maybe it's time we reduced our per capita usage of petroleum products (from more than five times the global average) so that we are self-sufficient

I am all for using nuclear power like France, Germany and Russia. Cheaper and much cleaner for the environment. That is why those countries show less usage on your "chart" which shows oil usage alone. BTW: China and India burn much more coal than oil.

[OrangeBlossomBaby]

As lovely as it sounds, there's no way we can eliminate our crude oil usage. We can certainly reduce its use as a fuel. But petroleum is the base material in plastic and eliminating plastic manufacturing is just not gonna happen - not in my lifetime or in the lifetime of the next few generations.

I would love to see us reduce our reliance on ANY fossil fuels for fuel. Gas and petroleum both. Technology and manufacturing innovations has come such a long way, but there's so much room for improvement.

Simple idea, maybe impossible to implement with our current technology: using vegetable oil for diesel engines (which you can already do) BUT - rework the exhaust system to somehow fit some device to the exhaust that neutralizes it, with zero carbon monoxide discharge.

At one point we were paying farmers to burn their cornfields, because there was too much, and the prices dropped too low for them to stay afloat. Imagine them not having to waste all that potential energy, and instead, profit from it while allowing us to continue using diesel motor vehicles, with clean-burning fuel. Right now it isn't possible. It could be though. And the oil companies could be jumping on this idea and running with it and making a fortune while at the same time reducing (not eliminating) their fossil fuel production.

[Topspinmo]

Maybe it's time we reduced our per capita usage of petroleum products (from more than five times the global average) so that we are self-sufficient

Ok, stop using electric and ride bicycle. Not going to happen is it.

Everything green made out of fossil fuels and metals that have to be mined by fossil fuel equipment. Wind turbines not going to produce enough energy to ever stop coal and natural gas. It will help but will never be the big player. Solar has some potential in another 50 years. I don’t want to here how Tesla plant all green, it’s not even close. Solar fields in California looks like desert trashed. The shovel ready jobs long gone.

[OrangeBlossomBaby]

Ok, stop using electric and ride bicycle. Not going to happen is it.

Everything green made out of fossil fuels and metals that have to be mined by fossil fuel equipment. Wind turbines not going to produce enough energy to ever stop coal and natural gas. It will help but will never be the big player. Solar has some potential in another 50 years. I don’t want to here how Tesla plant all green, it’s not even close. Solar fields in California looks like desert trashed. The shovel ready jobs long gone.

The solar fields in California ARE a desert. That's why they put the solar fields there. That's all those fields are good for. It's the Mojave desert.

[Kenswing]

The solar fields in California ARE a desert. That's why they put the solar fields there. That's all those fields are good for. It's the Mojave desert.
That plant uses a huge amount of natural gas. And it's also pretty good at vaporizing birds in flight.

[Topspinmo]

The solar fields in California ARE a desert. That's why they put the solar fields there. That's all those fields are good for. It's the Mojave desert.

No, they destroyed the living desert and now it waste land sand dunes.

[Nucky]

I for one am Shocked that Oil & Gas Prices have risen so steeply lately. NOT!

[Two Bills]

In UK we are amazed at the US obsession with gas prices.
At present we are at about $8 a gallon of gas, and $9 for diesel, and hardly take any notice of it.
You hit $3 and its the end of the world.:ohdear:

[Stu from NYC]

In UK we are amazed at the US obsession with gas prices.
At present we are at about $8 a gallon of gas, and $9 for diesel, and hardly take any notice of it.
You hit $3 and its the end of the world.:ohdear:

We live in a much larger country and have a tradition of doing a lot of driving.

[Heyitsrick]

In UK we are amazed at the US obsession with gas prices.
At present we are at about $8 a gallon of gas, and $9 for diesel, and hardly take any notice of it.
You hit $3 and its the end of the world.:ohdear:

In the US, we are amazed at the UK obsession with taxation. I seem to recall reading there was a war about it some time back.

[Fairway Cruises]

We live in a much larger country and have a tradition of doing a lot of driving.

It's around $6.50 a gallon in the UK and not forgetting it is a larger gallon as it is imperial measurement! Still way too expensive though. Oil is the product we need for centuries to come and is used in so many 'products' not just plastics. gas for vehicles represents one of it's smaller uses! Electric vehicles have to have a charged produced by a power station somewhere on the grid, and guess what they burn fossil fuels! More electric vehicles means worse pollution. Not only the fossil fuel but the battery manufacture and disposal of them. Not to get political here but carbon is vital to our world and if you do the research right we are not polluting our planet as many would believe. We represent a tiny fraction of carbon produced. Around the earth at any one time, under and above the sea there are volcanic erruptions pumping out more 'pollutant' than humans can presently produce in a 100 years! And thos happen all the time below the seas. You really must question what we are told.

[b0bd0herty]

You didn't bother to supply the link, so HERE (https://english.pravda.ru/world/21677-russia_usa_oil/) it is. Maybe you could have summarized what Pravda is saying as it certainly is a reliable source, right?



In summary, the numbers being discussed are through the end of 2020, having nothing to do with any decisions since that time. And oil imports in the US from Russia dropped in 2020, certainly in large part because of reduced demand from Covid.



Now PennBP explain how those facts relate to the recent increase in gasoline prices (https://www.politifact.com/article/2021/mar/02/are-gas-prices-going-and-it-joe-bidens-fault/)?

My understanding is that at that time, the US could buy from Russian and have it delivered cheaper than we could produce it ourselves. So "we" purchased a lot to fill up our strategic oil reserves.

Probably wrong but, that is what I heard.

[J1ceasar]

Very true which is why France went nuclear for the electrical generation as they had virtually no oil themselves. You can blame SUVs for the uptick in oil and gasoline usage over the last 10 years in general

[PennBF]

I have no intent to justify the data in my note. It is simple, gas prices have gone up significantly and Russia is bragging about their position on oil controls! As once said "play with it anyway you want to":popcorn:!!

[J1ceasar]

To the guy talking about plastic bottles and usage for other things, yes they can be a simple reduction in using plastic as you've noted probably when you go into a Starbucks or Burger King they use paper for coffee and then most gas stations they sell you a reusable plastic cup. Do you know over 300 billion plastic bottles are used for water in the USA alone yearly? By the way another simple way of reducing plastic usage is by a simple band. China did it 2 years ago by outgoing those very thin film bags used in supermarkets for fruits and vegetables, they figured about 500 billion bags per year were saved by people using reusable bags just like we do for a shopping these days in our supermarkets. One day our world certainly will be run out of oil, just like they said in the 70s but I certainly hope we will be smart enough for them to go on to other forms of energy and use the oil for all things nessary for things like lubrication

[Bay Kid]

Adding twin windmills to my V8.

[jbrown132]

In UK we are amazed at the US obsession with gas prices.
At present we are at about $8 a gallon of gas, and $9 for diesel, and hardly take any notice of it.
You hit $3 and its the end of the world.:ohdear:

That’s because in the UK, you can jump on a train and pretty much travel anywhere in the country in a few hours. The US is three thousand miles wide and we don’t have that luxury. Throughout my career I would have loved to have been able to jump on a train in my town and got off a few towns over and have gone to work. That’s possible in much of the UK, not here.

[Waltdisney4life]

I hope for $10 a gallon of gas. That’s what happens when you shut down the United States energy supply!

[Marine1974]

That article is really has nothing to do with the price of gasoline.
On November 21, 2020 the price per gallon was $1.59 a gallon where I live . In February, not a summer month , the price reached
$3.00 a gallon . During the Trump administration we were 100% free from importing foreign oil and a marginal exporter . That is not the case today . This article does not explain the price of gasoline at the pump , why we are now importing foreign oil . Really an article written
with political bias . I’m sorry I read it .

[Marine1974]

You never rode the metroliner from Boston to Washington DC .

[karostay]

Wrong lever

[mikemalloy]

The solar fields in California ARE a desert. That's why they put the solar fields there. That's all those fields are good for. It's the Mojave desert.

Palm Springs used to be "the Mojave Desert."

[Two Bills]

That’s because in the UK, you can jump on a train and pretty much travel anywhere in the country in a few hours. The US is three thousand miles wide and we don’t have that luxury. Throughout my career I would have loved to have been able to jump on a train in my town and got off a few towns over and have gone to work. That’s possible in much of the UK, not here.

Nothing to do with hopping on a train.
Gas and diesel have a 60% Government Fuel Tax added.
It is still cheaper and in most cases quicker to travel by car than train, if when you get to you destination, you can find a space, and afford to park on it!

Just think.
If US Government stuck $2 on every gallon, you could clear the national deficit in no time at all!!:icon_wink:

[merrymini]

Stop driving I am sure you can walk every where you need to go.

[kkingston57]

Gas prices fluctuate so often(creates news). Yesterday I noticed that gas was $2.76 and last week it was $2.89. We in TV should be the last ones to complain about gas prices. Started working in 1979. Gas was $.80 a gallon and VW beetle got 20 MPG with no air conditioning. Now own VW Passat which gets 33 MPG and has all of the creature comforts. IF I drove both vehicles 10K miles a year I would have paid $400 a year in 1979 and $875 in 2021. In other words ACTUAL gas costs have only doubled over the past 40 years.

[DAVES]

This says a lot ! Want to know about the higher gas prices??

"Russia celebrates landmark victory as it steals USA's energy security
Pravda Today. :ohdear

News is always distorted. Oil is truly interesting if we dare to read about it. It is clearly insane. In the middle east there are places where oil simply flows out of the ground like the old corney show where the hillbilly shoots his gun and strikes oil. Not only is it easy to extract but it is good quality crude-easy to refine. The oil sands, fracking, the crude is poor quality, loaded with sulfur so hard, expensive, to refine. We are also drilling underwater also expensive.

Russia? The Russian oil does not go to the US it goes to Europe. Oil cost money to ship. A fair market? Who are we kidding. Oil production goes down in the US due to a storm. The price around the world goes up. Including in places that do not buy from us.
The price of refined product goes up. It immediately goes up at the gas pump. When, it goes down, it goes down far slower. Doublespeak. They tell us they are selling inventory they paid more for. That is true. Why does it not work the same on the way up?

[kcarrino]

I for one am Shocked that Oil & Gas Prices have risen so steeply lately. NOT!

This most recent spike — about a third of the increase since December 2020 — comes from the winter storms that have devastated Texas over the past week. Power outages stopped oil refinement in many gulf refineries, dampening supply

[Astron]

We live in a much larger country and have a tradition of doing a lot of driving.

Sounds like a good argument to change tradition or use a less damaging technology.

[blueash]

That article is really has nothing to do with the price of gasoline.
On November 21, 2020 the price per gallon was $1.59 a gallon where I live . In February, not a summer month , the price reached
$3.00 a gallon . During the Trump administration we were 100% free from importing foreign oil and a marginal exporter . That is not the case today . This article does not explain the price of gasoline at the pump , why we are now importing foreign oil . Really an article written
with political bias . I’m sorry I read it .

Where did you hear those "alternative facts" You know you can actually look up the facts about oil imports and exports? https://www.worldoil.com/media/16000/eia-02-17-2021-2.png

And you can even look up what the international factors are that make the cost of oil and gasoline go up and down !! Wow, the information is right at your fingertips and you don't bother to verify before you post. This thread was started with a bit of Russian propaganda where they bragged about how much Russian petroleum we imported in 2020. So how do you miss noticing that that we are still importing foreign oil. Not just Russian, but Canadian, Saudi and more.

There is one small detail you got right, so I will point it out. For 2020 the US was a net exporter of the combined effects of oil and petroleum products imported vs exported. This was entirely due to the Covid downturn in the economy as the US needed less oil from abroad and continued to export refined product albeit at a lower rate.

A concise fact filled summary (https://www.worldoil.com/magazine/2021/february-2021/special-focus/special-focus-2021-forecast-review-us-oil-and-gas-production) of the very atypical year 2020 is this
Despite an historically low, 54% decline in drilling activity, U.S. oil production was down just 7.6% on a y-o-y basis, averaging 11.318 MMbopd in 2020. The loss in U.S. output could have been more drastic, but OPEC+ did a masterful job of curtailing production during the year to support benchmark prices. WTI started 2020 at $57.50/bbl, before dropping to $16.55/bbl in April, as Covid-19 decimated demand. Prices steadily improved after that, averaging $47/bbl.

https://www.eia.gov/outlooks/steo/images/Fig9.png

HERE (https://www.macrotrends.net/2516/wti-crude-oil-prices-10-year-daily-chart) you can see the last many years of the price of a barrel of oil and how it crashed, absolutely crashed in early 2020, due to Covid and it has now nearly recovered. Just to list prices for you here in the post for the end of March of the last few years:
Per Barrel Regular Gas/Gal (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epmr_pte_nus_dpg&f=w)
2021 61.56 2.86
2020 20.09 2.01
2019 60.14 2.62
2018 64.94 2.65
2017 49.51 2.32
2016 39.39 2.45

Right now we are in a situation of economic recovery where the demand is back up and the production is down somewhat because many drillers stopped during 2020 because of the low prices they could get selling their product. OPEC also cut its production significantly in 2020

To summarize, the US has been importing oil and other petroleum products during every administration for decades. During every quarter as seen above we have been a net importer of crude oil. The US was a net IMPORTER for the last administration, but was in late 2019 and 2020 only a very slight next exporter if you include other petroleum products [such as distillate fuel, motor gasoline, and jet fuel] not just crude oil, due to Covid as the US exported less in 2020 (https://www.eia.gov/petroleum/weekly/) than in 2019 but imported a lot less because demand was down, not any policy changes. The last major policy change that changed our trade balance was in 2015 when restrictions were lifted on US crude oil to be exported. Prior to that almost all crude oil drilled in the US stayed here for us. Once this was changed our crude oil exports went up which decreased the imbalance. The information is available. Spend some time self-educating. It is worth doing IMO

[Indydealmaker]

Maybe it's time we reduced our per capita usage of petroleum products (from more than five times the global average) so that we are self-sufficient

We WERE more self sufficient.

[Topspinmo]

I for one am Shocked that Oil & Gas Prices have risen so steeply lately. NOT!

Steady going up as supply dwindles. IMO It will be $4 and change by end of they year. That’s good for stock market, oil producers, state and federal government tax base. But, for common people getting by paycheck to paycheck and has to go to work everything will go up. Everything.

Gas prices has really never effected my income, I don’t have be running around taking trips. I I when to work and when home. It could be 10 bucks gallon and not affect my transportation. But it would effect everything else to survive.

[Topspinmo]

Very true which is why France went nuclear for the electrical generation as they had virtually no oil themselves. You can blame SUVs for the uptick in oil and gasoline usage over the last 10 years in general


IMO, no, blame the people that brought SUVs

[Worldseries27]

they have to extort those prices to support all of their royal family garbage. There is no reason that we should ever have $3 gasoline here in our country.
running start & pop the
clutch
THERE ARE 11 STATES IN THE U.S.A. THAT ARE LARGER THAN ENGLAND . SO WE AMERICANS TRAVEL A WHOLE LOT FURTHER THAN MOST EUROPEANS BY FAR AND CONSEQUENTLY GAS PRICES ARE IMPORTANT TO US.
A COUNTRY THAT CONTINUES TO DRIVE ON THE LEFT BECAUSE IT FAVORS THEIR RIGHT HANDED SWORD ⚔️ HAND SHOULD BE MORE UNDERSTANDING, OF GEOPOLITICAL REALITIES

[Two Bills]

They have to extort those prices to support all of their royal family garbage. There is no reason that we should ever have $3 gasoline here in our country.

If you want cheaper fuel, get self sufficient, and get the oil companies to subsidise the price at the pumps.
That'll work!

The Royal Garbage, as you so eloquently called our Queen actually run at a profit

In the fiscal year ending March 31, 2020, the Crown Estate pulled in more than $700 million, with more than $475 million in profits. The royal family receives 25% of the Crown Estate income, which is also known as the Sovereign Grant, and the remaining 75% goes to the British Treasury.10 Mar 2021

Forbes (https://www.forbes.com) › sites › arielshapiro › 2021/03/10

[DAVES]

In UK we are amazed at the US obsession with gas prices.
At present we are at about $8 a gallon of gas, and $9 for diesel, and hardly take any notice of it.
You hit $3 and its the end of the world.:ohdear:

You cannot directly compare. A large part of what you pay for a quantity of gasoline is tax.
It used to be shown on the pump but no longer is. In the US the tax is roughly 1/3 of what we pay. Exact rate in United Kingdom I do not know but I am certain as in the US it is significant. We pay every year for registration, plates, I believe in UK the plate stays with the car.

[DAVES]

You start.

People are and always have been the same. We need to........ The realspeak is you should.
I can truly say I consume far less gasoline than I used to. Truth, is I am retired. I no longer need to visit customers and do about 10% of the mileage I used to.

[Topspinmo]

I always admired queen elizabeth ii's courage during ww2. She refused to abandon london during the blitz, saw her in a documentary, in the north atlantic aboard a british warship in defiance of the u- boat attacks, and of course her war effort serving in the transportation system, all as a royal princess.
However
we also saw , the crown, the aberfan episode.
As we all are, she is a complicated person, not garbage, and deserving of the love and respect of her people who willingly give it to her.

I agree, it’s there country.

[Bucco]

You cannot directly compare. A large part of what you pay for a quantity of gasoline is tax.
It used to be shown on the pump but no longer is. In the US the tax is roughly 1/3 of what we pay. Exact rate in United Kingdom I do not know but I am certain as in the US it is significant. We pay every year for registration, plates, I believe in UK the plate stays with the car.

I THINK that the current federal tax on a gallon of gas is about 18.3 per gallon.....in Florida, add .344 to that.

[Topspinmo]

It's around $6.50 a gallon in the UK and not forgetting it is a larger gallon as it is imperial measurement! Still way too expensive though. Oil is the product we need for centuries to come and is used in so many 'products' not just plastics. gas for vehicles represents one of it's smaller uses! Electric vehicles have to have a charged produced by a power station somewhere on the grid, and guess what they burn fossil fuels! More electric vehicles means worse pollution. Not only the fossil fuel but the battery manufacture and disposal of them. Not to get political here but carbon is vital to our world and if you do the research right we are not polluting our planet as many would believe. We represent a tiny fraction of carbon produced. Around the earth at any one time, under and above the sea there are volcanic erruptions pumping out more 'pollutant' than humans can presently produce in a 100 years! And thos happen all the time below the seas. You really must question what we are told.

I thought England sold gas at pump by the liters? Which little more that quart?

[OrangeBlossomBaby]

Palm Springs used to be "the Mojave Desert."

Google is your friend. You need to do at least that little tiny bit before you present something as fact here.

I didn't know, so I looked it up. It took me less than 15 seconds to do a search and read a paragraph to teach me that Palm Springs is in the Sonoran Desert. The Mojave Desert is a higher-elevation desert north of the Sonoran Desert. The Mojave is the driest desert on the North American continent. The Sonoran gets two seasons of rainfall, as opposed to no actual season in the Mojave (it gets less than 2" of rain per year).

Point being - the Mojave is the perfect place for a windmill farm, because it isn't suitable for much of anything else.

[Bucco]

I for one am Shocked that Oil & Gas Prices have risen so steeply lately. NOT!

Asof yesterday.....

"At $2.86, the national average has decreased week-over-week for the first time since November of last year."


AAA Gas Prices (https://gasprices.aaa.com/?state=FL)

[Topspinmo]

I THINK that the current federal tax on a gallon of gas is about 18.3 per gallon.....in Florida, add .344 to that.

The state and federal government makes more on gallon of gas than the producers which last I inquired was about 7 cent gallon profit? no wonder oil producers get tax breaks when government make more off there product that they do.

[Two Bills]

Had how much did the royal family pay in taxes? There no royal family. There called dictators. Collecting money off the common people. In UK case they limited the royal family over the government. We have the same, but they hide in congress in form of career politicians.

You might as well give up on price of gas when you are foreigner at heart taking Pol-t-ic’s in another country.

I am sorry to show my ignorance, but I cannot understand what you are saying.
I would hazard a guess, that the sun has been over the yard arm for quite a while in your location!

[blueash]

I THINK that the current federal tax on a gallon of gas is about 18.3 per gallon.....in Florida, add .344 to that.

Decimal points Bucco, always check your decimal points. You listed the federal in cents and then Florida in dollars, so either $0.183 and $0.344 or 18.3 cents and 34.4 cents. Florida collects about double what the Federal govt gets per gallon, but Florida is responsible for about 2/3 of the costs of road work, so about right. The county and municipalities in Florida can also impose (http://edr.state.fl.us/Content/local-government/data/county-municipal/2020LOFTrates.pdf) a fuel tax. The US is losing money on their highway funds as the costs of road construction and repair exceed the amount collected in taxes. See Federal HERE (https://www.taxpolicycenter.org/briefing-book/what-highway-trust-fund-and-how-it-financed) So the highway fund is given money from the general funds to provide the cash required.

Florida, unlike the Federal govt automatically raises its fuel tax every year based on the CPI. If the Federal gov't did the same we would now be paying about 33 cents Federal fuel tax/gallon instead of 18.

[Bucco]

Decimal points Bucco, always check your decimal points. You listed the federal in cents and then Florida in dollars, so either $0.183 and $0.344 or 18.3 cents and 34.4 cents. Florida collects about double what the Federal govt gets per gallon, but Florida is responsible for about 2/3 of the costs of road work, so about right. The county and municipalities in Florida can also impose (http://edr.state.fl.us/Content/local-government/data/county-municipal/2020LOFTrates.pdf) a fuel tax. The US is losing money on their highway funds as the costs of road construction and repair exceed the amount collected in taxes. See Federal HERE (https://www.taxpolicycenter.org/briefing-book/what-highway-trust-fund-and-how-it-financed) So the highway fund is given money from the general funds to provide the cash required.

Florida, unlike the Federal govt automatically raises its fuel tax every year based on the CPI. If the Federal gov't did the same we would now be paying about 33 cents Federal fuel tax/gallon instead of 18.

OOOPS...

My bad.

Sorry, and thanks for an important correction.