The "Gas" Thread

[thebigspendur]

Perhaps I am wrong, Tc. In the past high oil prices was a sure sign drilling and jobs were cranked-up and all in the industry benefited.

It seems now, the shutdowns and regulations imposed by this admin have soured the industry.

It's like nobody cares to crank things up just to have them shut down again.
Even as some blame the high prices on drillers not drilling. Irony by design?

Sort of like truckers not trucking.

Well here N.M we are going full bore with drilling and production.The state has so much money from royalties it doesn't know what to do with it.

But in the end it all goes on the world wide open market. People don't seem to understand that and cheap politicians try and make hay by making folks think well, you drill more and our prices come down. Totally bogus of course.

[sharptonn]

Good to hear, Spendur! No reports of that have reached my ears from the media/powers that be.
More of that will help. Yes, the control thing is pretty interesting.
All about money, of course.

[nessmuck]

Why was gas so cheap when the USA was energy independent ?

[BobH]

US energy independence is a bit of a shell game as the US always imports crude oil and refines it. Some of the imported crude oil is exported as refined oil products and some services the domestic market. It is theoretically possible for the US to become truly energy independent if crude oil production was increased to take more advantage of it's proven oil reserves. It is probably better for the US, in the long run, to continue to import crude oil and keep their proven oil reserves as a back up. Import from countries like Canada which has 111 years of production in reserve as opposed to the US's 11 years.

https://en.wikipedia.org/wiki/List_o...more%20rows%20

Then again what do I know.

Bob

[thebigspendur]

Why was gas so cheap when the USA was energy independent ?

When I was a young whippersnapper gas was 26 cents a gallon. Of course that was before Saudi Arabia and the oil Cartels and Venezuela existed as oil producers. That's why gas was cheap then. I keep saying, it's all a worldwide market now and that Globalization thing.

[ZipZop]

All I can say is that I'm glad I'm retired. My cars sit mostly idle in my garage these days. Otherwise, I'd be beyond concerned, because when I did work, I was on the road 5 days a week, hundreds of miles per day.

I can remember during the Obama administration (Just to give a TIMELINE - I'm not starting political talk here), when gas hit record highs back then, I got stuck in Washington state at the peak of the spike and had to get back to Florida. I remember $4.80 a gallon for premium. At that time I drove a high end German import that required premium gas. You don't even want to know what that cost me to drive that car back home. I could have flown for less than half the cost. That car had a huge tank. something like 25 gallons, I guess the Germans designed it large so you could get on the Autobahn and cruise for hours at 120 mph without having to stop for gas too often. Filling up a 25 gallon tank full of premium gas back then took your breath away. Today? It would render you unconscious!

[nessmuck]

Also…do you notice..that Fuel prices are always high when a Democrat is in office ….

[nessmuck]

My sister in law is visiting Ireland this week….I asked her the price of gas today…she replied 2.17 liter. Let that sink in.

[nessmuck]

All I can say is that I'm glad I'm retired. My cars sit mostly idle in my garage these days. Otherwise, I'd be beyond concerned, because when I did work, I was on the road 5 days a week, hundreds of miles per day.

I can remember during the Obama administration (Just to give a TIMELINE - I'm not starting political talk here), when gas hit record highs back then, I got stuck in Washington state at the peak of the spike and had to get back to Florida. I remember $4.80 a gallon for premium. At that time I drove a high end German import that required premium gas. You don't even want to know what that cost me to drive that car back home. I could have flown for less than half the cost. That car had a huge tank. something like 25 gallons, I guess the Germans designed it large so you could get on the Autobahn and cruise for hours at 120 mph without having to stop for gas too often. Filling up a 25 gallon tank full of premium gas back then took your breath away. Today? It would render you unconscious!

Just put 100.00 worth of regular gas ,in my 2500 GMC pick up …and got ALMOST 3/4 of a tank.

[ZipZop]

Just put 100.00 worth of regular gas ,in my 2500 GMC pick up …and got ALMOST 3/4 of a tank.

Yes. Today, if I still had that German import, I'd pay around $150.00 for a fill-up of Premium gas. Ouch! And I'm sure it's going to get worse before it gets better. Back during the Obama administration, my German import was a large sedan with a 4.2 liter V8 that got a top highway of around 22 mpg under optimal conditions and speed (like 55 mph), but more realistically around 18 mpg with wind, hills, payload, and 70 mph speed. Luckily, my cars today are 4 cyl and sip gas by comparison.