Gasoline Gasoline!

Surfdog

Duke status
Apr 22, 2001
21,768
1,988
113
South coast OR
Since moving to south coast OR, having MANDATORY full service took some getting used to.

The good ones even clean your windshield.

It's like stepping back in time 50 years.

Only time self serve is ALLOWED is well after hours (9pm-6am) if the station operates 24/7 and you have to pay by card (no one there).

Last year not long after moving, I tried to get out and pump my own when the solo guy was busy, and got scolded for doing so. He said cops give tickets for that sh*t.
 
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Ifallalot

Duke status
Dec 17, 2008
88,305
17,592
113
Since moving to south coast OR, having MANDATORY full service took some getting used to.

The good ones even clean your windshield.

It's like stepping back in time 50 years.

Only time self serve is ALLOWED is well after hours (9pm-6am) if the station operates 24/7 and you have to pay by card (no one there).

Last year not long after moving, I tried to get out and pump my own when the solo guy was busy, and got scolded for doing so. He said cops give tickets for that sh*t.
Jersey is the same way

Absolute retardation
 

StuAzole

Duke status
Jan 22, 2016
28,250
9,456
113
In
The bottom line is you're not going to get any substantial levels of new drilling at current extraction prices.

I've already posted actual examples current costs for new wells, which have doubled.

On top of that there's ROI risks any business is going to face.

On top of that is political risk (not just in the USA but globally - see Colombia for example) but the main issue is inflation and supply chain issues have made new production too expensive.

And once the price/bbl comes down it's not going to do any favors as far as bringing new supply online...

So do the math on what that means for price/bbl in the years to come. Especially in the face of a future increase in global demand combined with further restrictions on oil.

On a basically global scale we're going to running at capacity or less and the market is going to be incredibly sensitive to demand as well as supply disruptions.
but EVs are bad.
 

Mr Doof

Duke status
Jan 23, 2002
24,860
7,759
113
San Francisco, CA
Not that it really matters, but in 10 days a gas station near my home dropped the price of gas from $6.75 a gallon to $5.59.

Oil companies still shipping oil overseas for a better price - click me.

By David Gaffen
July 27 (Reuters) - U.S. crude oil stockpiles fell last week, driven by a surge in exports to an all-time high due to the big discount for U.S. crude when compared with international benchmark Brent.

Crude inventories dropped 4.5 million barrels to 422.1 million barrels in the week ended July 22, compared with analysts' expectations in a Reuters poll for a 1 million-barrel drop, the U.S. Energy Information Administration said on Wednesday.

The decline was in large part the result of a surge in crude exports to a record 4.5 million barrels per day in the latest week.

The spread, or arbitrage between Brent and the U.S. West Texas Intermediate crude futures has widened out to more than $9 a barrel, making it more attractive for U.S. companies to sell crude overseas and for international refiners to bear the costs of transport to get the cheaper U.S. oil.

"The arb has only increased so you may actually see us challenge 5 million barrels in coming reports," said Robert Yawger, executive director of energy futures at Mizuho.

U.S. crude production rebounded to 12.1 million bpd after two weeks of declines, rising 200,000 bpd in its biggest increase since December.
 

VonMeister

Duke status
Apr 26, 2013
20,251
6,976
113
JOE BIDENS RAPE FINGER
Democrats like straw men because simple math is too hard.

Gasoline consumption is down to early COVID levels. Looks like the calls to increase production were as stupid as they sounded. The economy is wrecked..even your average consumer knows it. The only people who don't are the leaders in the democrat party. You want cheap commodities the market needs two things.....customers and sound policy...otherwise you're going to get instability.
 

kidfury

Duke status
Oct 14, 2017
24,655
10,488
113
Democrats like straw men because simple math is too hard.

Gasoline consumption is down to early COVID levels. Looks like the calls to increase production were as stupid as they sounded. The economy is wrecked..even your average consumer knows it. The only people who don't are the leaders in the democrat party. You want cheap commodities the market needs two things.....customers and sound policy...otherwise you're going to get instability.
thanks. you're really smart
 

hal9000

Duke status
Jan 30, 2016
55,673
16,364
113
Urbana, Illinois
Democrats like straw men because simple math is too hard.

Gasoline consumption is down to early COVID levels. Looks like the calls to increase production were as stupid as they sounded. The economy is wrecked..even your average consumer knows it. The only people who don't are the leaders in the democrat party. You want cheap commodities the market needs two things.....customers and sound policy...otherwise you're going to get instability.
did someone order a word salad?
 

hammies

Duke status
Apr 8, 2006
15,587
14,215
113
The economy is wrecked..even your average consumer knows it. The only people who don't are the leaders in the democrat party. You want cheap commodities the market needs two things.....customers and sound policy...otherwise you're going to get instability.
If the economy was wrecked there would be lines at the unemployment office instead of waiting to get into restaurants.
If the economy was wrecked airline tickets would be selling for rock-bottom prices instead of sky-high prices.
If the economy was wrecked I'd be able to negotiate good deals with contractors to work on my house. Instead they're all booked out for a year, or more (one guy said call me back in 2024).
If the economy was wrecked demand for everything would be low and we'd be worried about deflation.
And so on...

I personally remember the wrecked economies of the mid 70s, early 80s, early 90s, 2001, and 2009. Son, this is no wrecked economy.