Posted on 11/01/2013 7:03:46 AM PDT by thackney
Here you go - heating oil pricing calculated for New York Harbor.
http://www.economagic.com/em-cgi/data.exe/doecrude/day-EER_EPD2F_PF4_Y35NY_DPG
And retail gasoline is calculated off of what it costs at New York harbor, not what it would cost at the local refinery. Big profits to the oil company, bigger profits to the international bankers who rig the market.
It used to be more than that not to long ago. At least we have reversed the trend. The percentage is going down not up.
In 2006, our crude oil production was 27% of our refined product consumption.
U.S. Field Production of Crude Oil
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcrfpus2&f=a
U.S. Product Supplied of Finished Petroleum Products
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mtpupus2&f=a
Do you think a link of price in some way validated your false claims?
God’s Peace be with You.
You might start here:
http://auto.howstuffworks.com/fuel-efficiency/fuel-consumption/gas-price-quiz.htm
And if you think that supply-and-demand controls the prices, we probably don’t have a place to start a discussion.
So which of those ten question had anything to do with your claim? Asking what OPEC stood for? Volumes imported?
None of it was related to your claims.
On the new topic you jumped to, do you understand government regulations, taxes and the liquidity in the market all are part of the supply and demand curves?
Art Behrman’s analysis from last year presents the decline for shale oil. He took all the wells drilled to the end of 2010 and stopped drilling at that time then tracked just the ensuing two years or so of decline. It drops like a rock. Like all “resource” plays shale required drilling like a mad man to keep production going and the drilling pace has to ever increase to keep production growing.
People don’t understand that we will run out of rate long before we run out of reserves. From time-to-time people figure out how to coax some more squeal out of the pig at ecoomic recovery rates. You gotta convert resources to reserves. Lots of resources for conversion by someone who can figure out how.
So it has been, so it is and so it will be.
Well said, BTTT
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.