Keyword: gasoline

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  • Saudi Arabia’s oil war against Iran and Russia

    12/16/2014 11:13:56 AM PST · by Star Traveler · 46 replies
    The New York Post ^ | Sunday, December 14, 2014 | Ralph Peters
    This week, oil fell through the price floor of $60 a barrel and gas at my local filling station was $2.26 a gallon. That’s great news for commuters and almost every business, but wonderfully bad news for our ugliest enemies. This price plunge has been driven by Saudi Arabia, OPEC’s dominant power. While it’s true that part of Riyadh’s actions respond to the energy renaissance in North America, the greater motivation is breaking Iran’s will. The Saudis believe they can no longer rely on the US to contain Tehran’s imminent nuclear threat, so they’re out to do what our lukewarm...
  • Collapse in oil prices: producers howl, consumers cheer, economists fret

    12/16/2014 9:55:53 AM PST · by Star Traveler · 27 replies
    The Guardian ^ | Tuesday, December 16, 2014 | Staff
    The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has analysts arguing over whether this is a good or bad thing. The price of oil has fallen by nearly half in just six months, a surprising and steep plunge that has consumers cheering, producers howling and economists wringing their hands over whether this is a good or bad thing. The price of a barrel of oil is just under $56, down from a summer high of $107, and lower than at any time since the US was still in recession...
  • Oil price drop means lost billions for Canada, CIBC says

    12/16/2014 9:42:00 AM PST · by Star Traveler · 18 replies
    CBC News ^ | Tuesday, December 16, 2014 | Pete Evans
    The dramatic decline in oil prices will cost Ottawa about $5 billion in lost revenue and provincial economies a little more than that, one of Canada's biggest banks suggested today. That's one of the main takeaways from a CIBC report that attempts to quantify the impact of plunging oil prices on many aspects of Canada's economy. "The recent dive in crude oil prices is an unprecedented development for the Canadian economy," the report by CIBC economists Avery Shenfeld, Peter Buchanan and Warren Lovely says. There's a broad consensus that the declining price of oil is bad economic news for Canada,...
  • Price Of Gasoline Drops Below $2 A Gallon In Tulsa Metro

    12/16/2014 7:12:51 AM PST · by Star Traveler · 26 replies
    News on 6 [Tulsa] ^ | Russell Hulstine
    Gasoline prices are falling across northeast Oklahoma and at many convenience stores, it is now below $2 a gallon. Tuesday morning, News On 6 viewers began sending us photos of $1.99 gas prices at QuikTrips across the Tulsa area. Viewers are also reported Kum & Go's in Tulsa area communities are also selling gasoline at $1.99 a gallon. And the lower price for gasoline is not just in the Tulsa area, a South Coffeyville gas station has gas at $1.97 a gallon.
  • In These 13 States, Gas Is Selling for Below $2 a Gallon

    12/15/2014 7:56:37 PM PST · by 2ndDivisionVet · 28 replies
    The Daily Signal ^ | December 15, 2014 | Natalie Johnson
    Just two weeks ago a sole gas station in Oklahoma swept headlines for dropping gas prices below $2 a gallon. Today, 13 states have joined that list and the trend is expanding. Gas for less than $1.90 a gallon can be found in at least one station in Oklahoma, Louisiana and Ohio, according to CNN. CNN cites ten additional states– Alabama, Arizona, Colorado, Indiana, Mississippi, Missouri, Nebraska, New Mexico, Texas and Virginia– that now have gas below $2 a gallon. “What we’re seeing is markets at work,” Heritage Foundation economist Nick Loris said. “Significant increases in supply and a relatively...
  • Expert: Under $2 Gas Soon

    12/15/2014 8:22:33 AM PST · by central_va · 59 replies
    wrva richmond va ^ | 12/15/14 | Andy Doernen
    Richmond, Va. (1140wrva.com) Look for gas prices in the area to fall below $2 in the near future. Local gas industry analyst John Zehler, President of wholesaler Virginia Fuels, is predicting under $2 pump prices as the free fall in crude prices continues. Zehler says the price plunge has been going on for 6 months and it's going to be hard to turn it around until demand catches up with production. He says some folks think, with the current trend, we could see gas fall to $1.60 by the summer but admits it wild speculation.
  • Remember When MSM Mocked Michele Bachmann for $2 Gas Pledge?

    12/13/2014 6:01:14 AM PST · by governsleastgovernsbest · 30 replies
    NewsBusters ^ | Mark Finkelstein
    So who's crazy now? In 2011, the MSM mercilessly mocked Michele Bachmann for saying that if she became president, gas prices would fall to under $2/gallon. Typical was Time magazine, which called her prediction "fantasy." Time mocked Bachmann's drill, baby, drill policy, sniffing that if implemented, "prices at the pump might drop a whole 3 cents a gallon." But on CBS This Morning, there was top oil analyst Tom Kloza, saying that by Christmas, gas prices would be in the range of . . . $1.99-2.29 [I saw $2.18 here in Texas yesterday]. So who's crazy now, and where does...
  • The Terrible, Horrible, No Good, Very Bad Falling Gas Prices

    12/11/2014 7:08:04 AM PST · by Citizen Zed · 49 replies
    cato ^ | 12-11-2014 | RANDAL O'TOOLE
    A left-coast writer named Mark Morford thinks that gas prices falling to $2 a gallon would be the worst thing to happen to America. After all, he says, the wrong people would profit: oil companies (why would oil companies profit from lower gas prices?), auto makers, and internet retailers like Amazon that offer free shipping. If falling gas prices are the worst for America, then the best, Morford goes on to say, would be to raise gas taxes by $6 a gallon and dedicate all of the revenue to (boondoggles) “alternative energy and transport, environmental protections, our busted educational system,...
  • GOP Leaders: Gas Tax Hike Could Fuel Fixes To Bad Roads And Bridges

    12/08/2014 5:13:11 PM PST · by Theoria · 64 replies
    NPR ^ | 08 Dec 2014 | David Schaper
    Gasoline prices are at their lowest level in four years. The price at the pump in many states is almost a full dollar cheaper than it was last spring. So some politicians think this is a good time to raise gasoline taxes. Several states are tired of waiting for Congress to fix the federal highway trust fund, so they're considering raising gas taxes themselves to address their crumbling roads. Michigan Gov. Rick Snyder is trying to sell that state's legislators — especially those in his own Republican party — on raising the state's motor fuel tax to fund long neglected...
  • Fuel is cheaper—so let's hike gas tax: Former governor

    12/08/2014 7:34:24 AM PST · by BenLurkin · 40 replies
    cnbc ^ | Katie Kramer
    Gas prices, on average, are about 50 cents less a gallon than a year ago, giving a de facto tax cut and providing relief to millions of consumers as the holiday season kicks into high gear. However, a growing number of politicians have suggested that, given cheaper fuel costs, conditions might be ripe to hike federal taxes on gas in order to help fund infrastructure projects. Rendell is one of those voices. He supports raising the federal gas tax—
  • Tracking Miles As Gas Tax Alternative Raises Fairness, Privacy Concerns Los Angeles

    12/06/2014 5:31:30 PM PST · by Steelfish · 59 replies
    LATimes ^ | December 06, 2013 | DAN WEIKEL
    Tracking Miles As Gas Tax Alternative Raises Fairness, Privacy Concerns Los Angeles California officials are testing the idea of a mileage fee to replace the state tax of 36 cents per gallon of gas. By DAN WEIKEL Among those who would be hardest hit by a mileage fee are owners of hybrids and electric cars Standing at a Chevron station in Long Beach, Teresa Gutierrez wished she was pumping fuel into a gas-sipping hybrid instead of her hulking GMC Yukon. She was nevertheless cool to the idea that the state might start raising money for highway repairs by replacing the...
  • Why Gasoline Prices Are Down -- And How to Keep It That Way

    12/06/2014 12:16:40 PM PST · by Kaslin · 32 replies
    Townhall.com ^ | December 6, 2014 | Ed Feulner
    If you’re like most Americans, you haven’t been questioning the welcome drop in gasoline prices. You just fill ’er up and feel grateful that you’re spending less.But why has this remarkable drop come about? And what can we do to help keep prices lower?Some of it, unfortunately, is beyond our control. Worldwide demand for oil is down now. That always causes the cost of gasoline to drop.But the other side of the equation -- the part that is under our control -- has gone largely unheralded in many media accounts: the boom in U.S. energy production. Simply put, we’re producing...
  • The gas tax has been fixed at 18 cents for two decades. Now would be a great time to raise it

    12/04/2014 6:59:46 AM PST · by C19fan · 45 replies
    Washington Post ^ | December 3, 2014 | Chris Mooney
    Nationally averaged gas prices ticked down a little lower today -- yet again -- to $2.75 per gallon. They're now more than 50 cents lower than they were a year ago. So no wonder, at a time like this, the murmur is growing: Maybe Congress ought to think about raising the national gasoline tax. It was last raised, in the year 1993, to 18.4 cents per gallon. That's over 20 years ago, and gas prices at the time were close to the now unimaginable $1.00 per gallon mark. Yet the amount of the gas tax was fixed and not tied...
  • First U.S. gas station drops below $2 a gallon (OKC)

    12/03/2014 6:51:05 PM PST · by DaveMSmith · 47 replies
    An Oncue Express station in Oklahoma City was selling the motor fuel for $1.99 a gallon Wednesday, becoming the first one to drop below $2 in the U.S. since July 30, 2010, Patrick DeHaan, a senior petroleum analyst at GasBuddy Organization Inc., said by email from Chicago. "We knew when we saw crude oil prices drop last week that we'd break the $2 threshold pretty soon, but we didn't know if it would happen in South Carolina, Texas, Missouri or Oklahoma," said DeHaan, senior petroleum analyst for Gasbuddy. "Today's national average, $2.74, now makes the current price we pay a...
  • Mexico Thieves Stealing Billions in Oil, Gasoline from Country’s Pipelines

    12/02/2014 11:07:54 AM PST · by Up Yours Marxists · 18 replies
    The State ^ | December 2, 2014 18:27 GMT | Tim Johnson
    HUIMANGUILLO, Mexico — The big-time gasoline thieves had already come and gone during the wee hours, filling their tanker trucks with stolen fuel and then fleeing. Then dawn broke, and word spread that a crime gang had again tapped into a gasoline pipeline, and it was spewing fuel into a ditch. At first, only a few farmers showed up, carrying plastic jerry cans. Then dozens. Then even more. All were eager to collect what spilled fuel they could. (...) Mexico is plagued by rampant energy theft. In the first eight months of this year, 7.5 million barrels went missing, a...
  • Drill baby drill won't lower gas prices [2011]

    12/01/2014 8:45:35 PM PST · by Vince Ferrer · 33 replies
    Cnn Money ^ | April 25, 2011 | Steve Hargreaves
    Every time gas prices reach record highs the call goes out for more oil drilling. This year it's no different. "The Gulf is ready to get back to work to help create jobs and lower gasoline prices," Washington Republican Doc Hastings, head of the House Natural Resources Committee and a big proponent of more drilling, said last week.The problem is this: While increased oil and gas drilling in the United States may create good-paying jobs, reduce reliance on foreign oil and lower the trade deficit, it will have hardly any impact on gas and oil prices.
  • Venezuela's future: 'Barbarity and people looting'

    12/01/2014 2:06:52 PM PST · by Citizen Zed · 38 replies
    cnbc ^ | 12-1-2014
    "Scarcity is getting worse in Venezuela. Basic products are so hard to get," said Josseline Viera, a doctor in Venezuela. "It used to be that certain products were scarce, now it's basically everything." Viera says shortages have made it impossible for hospitals to find essential medical products such as gauze and acetaminophen. Oil accounts for 95 percent of Venezuela's export earnings,and combined with gas, it's 25 percent of the country's gross domestic product. As the price of oil hits a four-year low at $70 per barrel, the OPEC nation's oil-dependent economy is set to implode, experts say, bringing deeper political...
  • OIL KEEPS PLUNGING ($66.15 Bl)

    11/29/2014 6:49:24 AM PST · by blam · 109 replies
    BI ^ | 11-29-2014 | Myles Udland
    Myles Udland November 28, 2014Oil is still falling. In afternoon trade on Friday, West Texas Intermediate crude prices in the US dropped more than 10% to settle at $66.15 a barrel, a more than $7.50 drop in just 24 hours. At one point on Friday, WTI futures briefly breached $66. Brent crude prices, which are the global benchmark, also cracked $70 a barrel on Friday. Earlier this week, WTI prices were at around $76 and Brent prices were near $80. (snip)(snip)
  • California's Cap & Trade .. And the so-called "Hidden Gas Tax"

    11/24/2014 8:36:41 PM PST · by cakid1 · 16 replies
    CBS47 ^ | 11-24-14 | cakid1
    Starting on January 1st some claim California drivers will start paying a new "Hidden Gas Tax." How much will you pay? We have a two part Special Report on Eyewitness News coming up tomorrow - Tuesday November 25th at Six and Eleven. When the story airs I'll send a link to Free Republic.
  • Q&A: Oil eventually will lose its place as leading auto fuel

    11/24/2014 4:54:32 AM PST · by thackney · 44 replies
    Fuel Fix ^ | November 23, 2014 | Collin Eaton
    One day, crude oil will lose its grip on cars and trains and ships, but with costs to produce alternative energy still high, a change that big will likely take many decades. How long is anyone’s guess, says one man with a head start on most prognosticators. Henrik Madsen, the CEO of Norway’s international shipping and oil field equipment classifier DNV GL, says the commercial automobile market is the last bastion of crude oil, after its disappearance from power plants and heating fuels in the second half of the 20th century. Its days in vehicles and vessels are numbered. Searing...
  • California cities consider gas-pump warning labels

    11/18/2014 8:53:03 PM PST · by smokingfrog · 48 replies
    ABC7News ^ | 11-18-14 | AP Story
    Known for its liberal politics, Berkeley has racked up a long line of firsts over the years, from taxing sugary drinks to ditching Styrofoam takeout containers. City officials are now considering another novel plan: putting stickers on gas pumps citywide to warn consumers that burning fuel contributes to global warming. The Berkeley City Council is set to vote Tuesday to possibly move forward by early next year with the proposal, among the first of its kind in the U.S. San Francisco is drafting a similar ordinance that the city's Board of Supervisors could vote into law by next spring. Environmental...
  • Drill, Baby, Drill! US Fracking Drives Down Saudi Oil Prices

    11/18/2014 7:30:44 PM PST · by 2ndDivisionVet · 19 replies
    The Excellence In Broadcasting Network ^ | November 18, 2014 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Okay. I mentioned the plummeting oil price, and there are a lot of people trying to figure out, why is this happening? There are a lot of people that do not understand what it is that's driving down the crude oil price. What explains it? When it happens and it's a mystery, people look to traditional explanations, "Well, are people driving less? Is the demand for gasoline down? The economy bad? What's going on?" And in this case that's not the answer The simple explanation for much, not at all, but for much of the drop in...
  • Where will the Keystone XL oil go to?

    11/18/2014 9:59:34 AM PST · by Laissez-faire capitalist · 59 replies
    11/18/2014 | Laissez-Faire Capitalist
    We most certainly need to "drill, baby, drill." But how much of this oil is going to be shipped elsewhere, and how much will stay in the US? While much of it will probably be refined, will it then be shipped to Latin America or other places? Why not keep it all (or at least the lion share of it) here in the United States?
  • Repeal of U.S. oil export ban would lower gas prices, studies show

    11/17/2014 5:20:35 AM PST · by thackney · 22 replies
    Washington Times ^ | November 16, 2014 | Patrice Hill
    The U.S. government has banned oil exports since the energy crisis of the 1970s, but that could change next year as Republicans take control of Congress and are backed by new studies showing that repeal of the ban would actually lower gasoline prices and be a surprising boon to consumers. Sen. Lisa Murkowski, Alaska Republican and the expected new chairwoman of the Senate Committee on Energy and Natural Resources, has been the leading proponent in Congress for ending the ban, arguing that a sea change in the way oil and gas prices are determined in global markets has turned it...
  • Fill 'Er Up: U.S. Says Gas Prices to Average Below $3 a Gallon in 2015

    11/13/2014 1:36:05 PM PST · by SeekAndFind
    NBC News ^ | 11/13/2014
    Despite losing at least eight seats, and probably nine before all the votes are counted by 2015, Senate Majority Leader Harry Reid (D-NV) has not faced much in the way of a public pushback from his fellow Democrats… until today. Purple state Democrat Sen. Claire McCaskill (D-MO) revealed on Thursday that she will not back Reid in his role as minority leader in the next Congress.The revelation came as a surprise when she was asked by reporters if she would stand by Reid. “I will not,” McCaskill replied.“Yesterday, I met with Harry Reid and told him I would not...
  • SHORT-TERM ENERGY OUTLOOK

    11/13/2014 4:20:18 AM PST · by thackney · 6 replies
    Energy Information Administration ^ | Nov. 12, 2014 | Energy Information Administration
    Selected portions of the report, full report at the link: North Sea Brent crude oil spot prices fell from $95/barrel (bbl) on October 1 to $84/bbl at the end of the month. The causes included weakening outlooks for global economic and oil demand growth, the return to the market of previously disrupted Libyan crude oil production, and continued growth in U.S. tight oil production. Brent crude oil spot prices averaged $87/bbl in October, the first month Brent prices have averaged below $90/bbl since November 2010. EIA projects that Brent crude oil prices will average $83/bbl in 2015, $18/bbl lower than...
  • Gov’t tells US drivers to get used to cheap gas

    11/12/2014 10:41:16 PM PST · by Olog-hai · 77 replies
    Associated Press ^ | Nov 13, 2014 12:08 AM EST | Jonathan Fahey
    Those low gas prices on station signs aren’t going away soon, the government says. In a dramatic shift from previous forecasts, the Energy Department predicted Wednesday that the average price of gasoline in the U.S. will be below $2.94 a gallon in 2015. That a 44-cent drop from an outlook issued just a month ago. If the sharply lower estimate holds true, U.S. consumers will save $61 billion on gas compared with this year. Rising oil production, particularly in the U.S., and weak spots in the global economy have led to a sharp reduction in oil prices over the past...
  • Gas is Cheaper. Where are the Grandstanding Politicians?

    11/12/2014 11:39:02 AM PST · by Kaslin · 44 replies
    Townhall.com ^ | November 12, 2014 | Jeff Jacoby
    Oil prices are plunging. Gasoline is now cheaper than milk. Why doesn't Washington do something already?Since peaking in June, the price of oil has tumbled by 25 percent. Texas light sweet crude futures have fallen to around $77.40 a barrel, a three-year low, while Brent oil, the global benchmark, sank on Monday to its lowest price in four years.With cheaper oil has come cheaper gasoline. The national average price for a gallon of regular is now just $2.926. Drivers haven't seen pump prices this low since December 2010. Nor have they seen such a sustained decline — the price has dropped...
  • 2.99 in Eastern Ohio, 3.09 in SW PA

    11/11/2014 7:14:30 AM PST · by knarf · 55 replies
    self ^ | November 11, 2014 | knarf
    For this Veteran's Day day, we enjoy lower gasoline prices and a Republican rout
  • The Hummer is back. Thank falling oil prices.

    11/11/2014 1:11:32 AM PST · by Cincinatus' Wife · 36 replies
    The Washington Post ^ | November 10, 2014 | Chico Harlan
    "......Some American consumers and business owners say they weren’t yet confident cheaper prices at the pump would stick. Instead, they say, they are treating the sub-$3 gas as a helpful little gift, but not as a green light to make major adjustments. “When gas was up around $5, it was killing us,” said David Grant, 50, of Fairfax, who owns a regional pest management company and spends several thousand monthly in fuel for his fleet of Ford F-150s. “I went ahead and raised my prices on everybody else.” This time, Grant said, he’s not lowering those prices, nor is he...
  • Will 2.50 Gas Cause Panic For Democrats In 2015?Oh No! More Jobs, Less Votes!

    10/30/2014 5:31:05 AM PDT · by Cruz_West_Paul2016 · 34 replies
    If by miracle and we see $2.50 gas next year, you would assume it will help the economy and create more jobs. Right? And Democrats want more people unemployed. And who wont approve of such a drop in oil prices? Maybe Obama, who wants all of us to drive compact cars with 24 inches of leg room, and cars that will crumble in any collision(like those Smart Cars). We can only hope crude prices keep falling while consumers start buying bigger cars again.
  • Oil And Gas Prices: How Low Will They Go?

    10/16/2014 4:21:33 AM PDT · by thackney · 30 replies
    Forbes ^ | 10/15/2014 | Brigham A. McCown
    Crude oil prices continue to slide with surging production and weakening economic news. Key benchmarks are near to at a four year low, with West Texas Intermediate (“WTI”) closing at $81.84, well below the $100 to $120 range reached between 2010 and 2012. In fact, the drops have been startling, with WTI closing down $3.90, or 4.77% today alone, and other key benchmarks have not fared better. Until recently, Brent Crude Oil has traded significantly higher than WTI. Surging production and better transportation options have significantly whittled away at the typical $10 to $20 per barrel spread over the last...
  • Former Shell Exec: American Energy Could Save the Economy

    10/10/2014 8:41:17 AM PDT · by Kaslin · 21 replies
    Townhall.com ^ | October 10, 2014 | Thomas Miller
    From 2005 to 2008, John Hofmeister ran the U.S. operations for Royal Dutch Shell. Then he turned 60. The Dutch have a cultural thing about 60. John said it roots back to post-WWII, when too many “older” folk were clinging to their jobs, so the unemployment rate among the youth was unacceptably high. So, many companies mandate retirement at 60. Fortunately, John didn’t drift off-stage. In fact, he’s more visible and viable now than ever. Frequently on CNBC, CNN, Fox and many others, he stopped by our Dallas studios to join Chris Faulkner of Breitling Energy and me for Powering...
  • As global oil futures tumble, U.S. cash crude traders ask: What glut?

    10/06/2014 7:05:22 AM PDT · by thackney · 28 replies
    Reuters ^ | Oct 6, 2014 | CATHERINE NGAI AND JONATHAN LEFF
    An unusual disconnect has emerged in the U.S. oil market, with headline futures slumping to levels below $90 a barrel even as traders in the physical crude market report surprisingly robust demand and strong pricing. In New York and London, big funds and speculators have turned very bearish on prices due to signs of weakening demand in China and Europe, steady exports from Iraq and Libya and a rallying dollar. U.S. futures have fallen 17 percent since mid-June and hit $88.18 per barrel on Thursday, the lowest since April 2013. Among cash traders in Houston and Calgary, where batches of...
  • Mexican cartels steal billions from oil industry

    09/25/2014 5:43:01 AM PDT · by thackney · 9 replies
    Fuel Fix ^ | September 25, 2014 | Associated Press
    Mexico overcame 75 years of nationalist pride to reform its flagging, state-owned oil industry. But as it prepares to develop rich shale fields along the Gulf Coast, and attract foreign investors, another challenge awaits: taming the brutal drug cartels that rule the region and are stealing billions of dollars’ worth of oil from pipelines. Figures released by Petroleos Mexicanos last week show the gangs are becoming more prolific and sophisticated. So far this year, thieves across Mexico have drilled 2,481 illegal taps into state-owned pipelines, up more than one-third from the same period of 2013. Pemex estimates it’s lost some...
  • A gasoline tax map that explains a lot

    09/23/2014 3:39:32 AM PDT · by WhiskeyX · 60 replies
    Exxon Mobil Perspectives ^ | February 7, 2014 | Ken Cohen
    In last week’s post about ExxonMobil’s 2013 earnings, I noted that we earned about 5.5 cents for every gallon of gasoline and other petroleum products we refined, shipped, and sold in the United States. Consider this: The federal and state and local governments collected 40 to 60 cents per gallon in taxes. The American Petroleum Institute just updated their map showing the combined local, state and federal tax rate in each state as of Jan. 1, when new taxes took effect.
  • Oil industry accuses administration of political motive in ethanol rules

    09/12/2014 5:02:42 AM PDT · by thackney · 17 replies
    Fuel Fix ^ | September 11, 2014 | Rhiannon Meyers
    An oil industry trade group unveiled its latest attack ads on the nation’s renewable fuels policy, accusing the Obama administration of “playing politics” with a mandate to blend more ethanol into gasoline. The American Petroleum Institute said Thursday it fears the Environmental Protection Agency will boost ethanol requirements to help a Democrat locked in a close U.S. Senate race in Iowa — a corn-growing state that benefits from the mandate because most U.S. ethanol is made from corn. U.S. Rep. Bruce Braley, an Iowa Democrat running to succeed retiring Democratic Sen. Tom Harkin, last month sent a letter to the...
  • U.S. petroleum product exports continue to rise {This Week In Petroleum}

    09/05/2014 5:23:33 AM PDT · by thackney · 17 replies
    Energy Information Administration ^ | September 4, 2014 | Energy Information Administration
    U.S. exports of petroleum products, primarily from the Gulf Coast (PADD 3), have continued to increase. Year-to-date product exports through June 2014 (the latest month for which data are available), including gasoline, distillate, jet fuel, petroleum coke, and hydrocarbon gas liquids (HGL), averaged 3.7 million barrels per day (bbl/d), up 543,000 bbl/d over last year. Increased exports from the Gulf Coast have accounted for 72% of the growth in total U.S. exports (Figure 1). With U.S. refinery runs at or near record levels for much of the year and domestic product demand only slightly higher than last year, product exports...
  • WARNING ~~~~RIP OFF AT THE PUMPS

    08/29/2014 11:40:23 AM PDT · by Dick Bachert · 85 replies
    Unknown | Unknown | Unknown
    Got this from a email friend today. She says . . . I ALWAYS check the first gallon before pumping more – simply to MATCH the PRICE (advertised) against the ONE gallon pumped into my car. – I “caught” a SHELL station (here in Mesa, Arizona) that had the price 12 cents per gallon HIGHER than the advertised price on the pump AND the sign out front. – I called the local Department of Agriculture (weights and measures division) from my cell phone immediately – waiting for them to show up. They did, some 20 minutes later. The Department taped...
  • Forecast: cheapest Labor Day gasoline since 2010

    08/27/2014 10:08:02 AM PDT · by thackney · 44 replies
    Fuel Fix ^ | August 27, 2014 | Ryan Holeywell
    Drivers hitting the roads during the upcoming holiday weekend will likely encounter good news: the cheapest Labor Day weekend gasoline prices since 2010. The forecast comes amid falling domestic and global crude prices, analysts at GasBuddy said. The benchmark price for U.S. crude is down nearly $9 per barrel since the Memorial Day weekend, and the the international price is down $7 in the same period. A downward trend in gasoline prices began in July and will likely continue through autumn, the gasoline price monitors said. Interestingly, the downward trend in crude comes despite several global conflicts in and around...
  • Ending ban on oil exports would mean cheaper gasoline, energy executive says

    08/22/2014 10:12:52 PM PDT · by ckilmer · 27 replies
    fuelfix.com ^ | August 22, 2014 at 7:51 pm | Vicki Vaughan
    Ending ban on oil exports would mean cheaper gasoline, energy executive says Posted on August 22, 2014 at 7:51 pm by Vicki Vaughan in Crude oil, Eagle Ford, Gasoline, LNG, Markets EmailPrint2 inShare (Jeff Pachoud/AFP/Getty) Should the government end its 40-year-old ban on exporting crude oil, the nation would enjoy benefits ranging from jobs to a decline in gasoline prices, an oil industry economist said in a talk this week in San Antonio.ConocoPhillips senior economist Helen Currie, citing a study by the energy consulting firm IHS Inc., said prices at the pump would fall by about 8 cents a gallon...
  • Turn natural gas into gasoline for $1 per gallon

    08/21/2014 8:50:09 AM PDT · by ckilmer · 73 replies
    peakoil.com ^ | August 21, 2014
    Turn natural gas into gasoline for $1 per gallon The clear liquid flowing from a collection of pipes and wires in a Hayward industrial park smells just like gasoline, and for all practical purposes, it is.But it wasn’t made from crude oil. Instead, it came from natural gas, the fuel whose sudden abundance in America is reshaping the country’s energy landscape.Siluria Technologies says it can produce large quantities of gasoline, diesel, jet fuel and chemicals at a lower cost than traditional refineries and chemical plants. At today’s natural gas prices, Siluria’s technology could make gasoline at roughly $1 per gallon, according to...
  • As Fuel Prices Fall, Will Push For Alternatives Lose Steam?

    Just four months ago, a conference here on electric cars drew four times as many people as expected. District fire marshals ordered some of the crowd to leave, and the atmosphere was more like that of a rock concert than an energy conference. A brief film depicted an electric car owner driving off with a beautiful woman to the strains of "The Power of Love" while her original companion struggles to pay for gasoline. The audience cheered. One discordant note in the series of enthusiastic speeches came from Bill Reinert, one of the Toyota Prius designers. He cautioned that designing...
  • The Way This City Is Tackling Gas Prices Has Some People Crying ‘Socialism’

    07/21/2014 7:06:35 PM PDT · by lowbridge · 26 replies
    theblaze.com ^ | july 21, 2014 | zach noble
    The town of Somerset, Kentucky, opened a city-run filling station on Saturday, the Associated Press reported, offering gas to the public at below-market rates. From the Associated Press: The Somerset Fuel Center opened to the public selling regular unleaded gas for $3.36 a gallon, a bit lower than some nearby competitors. In the first three hours, about 75 customers fueled up at the no-frills stations, where there are no snacks, no repairs and only regular unleaded gas. The mayor says the station was created in response to years of grumbling by townspeople about stubbornly high gas prices in Somerset, a city...
  • Democrat Congressman: Tax Drivers for Every Mile They Drive

    07/12/2014 12:35:05 AM PDT · by 2ndDivisionVet · 31 replies
    CNS News ^ | July 11, 2014 | Penny Starr
    While the House and the Senate this week issued measures intended to temporarily replenish the Highway Trust Fund before it runs out of money next month, Rep. Earl Blumenauer (D-Ore.) ended the week by proposing to hike - then abolish - the federal fuel tax and replace it with a per-mile “fee.” “The policy development that I’m most excited about and that will reinforce the right practices for the future: After we raise the gas tax, we should abolish it,” Blumenauer said on Friday at the liberal Center for American Progress in Washington, D.C. “The time is right to replace...
  • Fuel economy improvements show diminishing returns in fuel savings

    07/11/2014 5:23:49 AM PDT · by thackney · 26 replies
    Energy Information Administration ^ | JULY 11, 2014 | Nicholas Chase
    Fuel costs, which depend on vehicle fuel economy, miles driven, and fuel price, are an important factor in vehicle purchasing decisions. However, fuel economy improvement exhibits diminishing returns in fuel savings. For example, switching from a 10-mile-per-gallon (mpg) vehicle to a 15-mpg vehicle saves more fuel and results in greater fuel cost savings than switching from a 25-mpg vehicle to a 75-mpg vehicle. The fuel and cost savings of improving fuel economy from 12 mpg to 15 mpg are the same as increasing from 30 mpg to 60 mpg. Much of the reduction in fuel consumption and fuel cost comes...
  • More Fuel Efficient Cars Causing Highway Trust Fund to Go Broke

    07/07/2014 7:38:43 AM PDT · by Red Badger · 53 replies
    www.weeklystandard.com ^ | 9:24 AM, Jul 7, 2014 | By GEOFFREY NORMAN
    Washington needs more money and if it doesn’t get it, your morning commute will become: a) more expensive b) more unpleasant c) both The problem, you see, is that the Highway Trust Fund is "going broke,” by the Beltway’s curious definition of the phrase. It is sort of the way that after a round of painful “cuts,” spending somehow still goes up. The Highway Trust Fund takes in more than 18 cents on every gallon of gasoline sold in this country, so there is plenty of revenue. Just not enough to meet Washington’s needs and desires. People are driving more...
  • Oil rich, gas poor: Iraq's excruciating gas lines

    07/03/2014 7:59:53 AM PDT · by thackney · 4 replies
    Al Jazeera America ^ | June 30, 2014 | Christof Putzel
    The lines have become a part of daily life in Erbil, a relatively peaceful and prosperous city in the autonomous Kurdish region of Northern Iraq. Over the years, it’s mostly managed to avoid the problems that have plagued the rest of the country. But that's no longer the case. In recent weeks, the war between the Iraqi Army and a Sunni militant group has drawn in Kurdish security forces, sent tens of thousands of refugees fleeing the violence and disrupted the oil supply chain. “The government is afraid to release too much gas, because they don’t know what is going...
  • A perspective on U.S. gasoline prices heading into Fourth of July weekend

    07/03/2014 7:31:03 AM PDT · by thackney · 2 replies
    Energy Information Administration ^ | July 2, 2014 | Energy Information Administration
    On Monday, June 30, the national average retail gasoline price was $3.70 per gallon. Although this is the highest average heading into the Fourth of July holiday since 2008, gasoline prices in 2014 have remained well below the spring peaks reached in each of the previous three years (see graph). Although prices are currently 20 cents per gallon higher than last year at this time, prices this year did not peak as high as in recent years because of relatively stable crude oil prices in 2014. The peak retail gasoline price this year was $3.71/gal on April 29, lower than...
  • Obama Administration Plans To Dramatically Alter Transportation Funding For States

    07/02/2014 9:59:19 PM PDT · by Rusty0604 · 37 replies
    head9 Polotics ^ | 07/02/2014 | head9politics staff
    Starting in August, the Obama administration will dramatically revamp and cut back the formula it uses to send transportation funds to the states unless Congress replenishes the Highway Trust Fund The Department of Transportation (DOT) predicts that the fund, which has traditionally drawn its revenue from the federal gas tax of 18.4 cents per gallon, will be depleted by late August . The agency will use a previously-established formula to calculate the percentage of remaining funds that each state will receive, with new revenues coming in every two weeks as money from the gas tax comes into the fund.