Keyword: gasprices

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  • Can U.S. Gas Production Keep Up With Demand?

    02/14/2019 3:58:07 PM PST · by bananaman22 · 16 replies
    Oilprice.com ^ | 02-14-2019 | Rob The Rapper
    In the previous article, I discussed the global nature of the oil markets. But the shale oil boom in the U.S. temporarily increased the localized impact on the West Texas Intermediate (WTI) benchmark. As a result, its price diverged from that of international crudes for a few years. The natural gas markets, on the other hand, are far more localized due to the difficulty in transporting natural gas. That means that natural gas in the U.S. could be $3 per million British thermal units (MMBtu), but double or triple that level in Japan or Europe.
  • Gasoline Overproduction Leads To Negative Margins

    01/25/2019 10:20:01 AM PST · by bananaman22 · 12 replies
    Oilprice.com ^ | 01-25-2019 | Irina
    Excess supply of gasoline coupled with slow demand has pressured refiners margins, Reuters reports, noting refining margins for the fuel in the United States sank to US$45.70 a barrel yesterday. The drop follows the fourth weekly increase in gasoline inventories in the U.S., all of them quite hefty, leading to an all-time high of gasoline supplies, at 259.6 million barrels as of January 18. Over the last four weeks, the Energy Information Administration reported gasoline inventory builds reaching a combined 26.6 million barrels. However, the United States is not the only large gasoline hub where inventories are rising as demand...
  • Hah! President Trump Triggers Liberal Snowflakes with Holiday Tweet on Gas Prices

    11/21/2018 7:20:17 PM PST · by Proud White Trump Supporter · 69 replies
    Gateway Pundit ^ | Nov 21, 2018 | Jim Hoft
    President Trump posted a pre-Thanksgiving tweet to trigger the snowflakes before the holiday. ....... President Trump: You just can’t win with the Fake News Media. A big story today is that because I have pushed so hard and gotten Gasoline Prices so low, more people are driving and I have caused traffic jams throughout our Great Nation. Sorry everyone!
  • Exxon, Chevron join climate initiative

    09/20/2018 9:52:27 AM PDT · by yesthatjallen · 21 replies
    The Hill ^ | 09/20/18 | Timothy Cama
    Three of the United States’ largest oil and natural gas companies are joining a major fossil fuel-backed international coalition to battle climate change. Exxon Mobil Corp., Chevron Corp. and Occidental Petroleum Corp. all announced that they’re joining the Oil and Gas Climate Initiative (OGCI) Thursday, in the lead-up to the major Climate Week event in New York City next week, where the group will have a meeting. The group was launched in 2014. Initially, United States-based companies avoided the initiative, and it was dominated by foreign companies like BP, Total and Royal Dutch Shell. “It will take the collective efforts...
  • Trump changes US policy: 'Conserving oil no longer an economic imperative'

    08/20/2018 10:06:43 AM PDT · by rktman · 59 replies
    americanthinker.com ^ | 8/20/2018 | Thomas Lifson
    In terms of its effect on the lives of Americans, as well as the economy, the change of U.S. policy announced by the Trump administration last month to almost no media attention is a big deal. Ellen Knickmeyer of the Associated Press picked up on it belatedly: Conserving oil is no longer an economic imperative for the U.S., the Trump administration declares in a major new policy statement that threatens to undermine decades of government campaigns for gas-thrifty cars and other conservation programs.
  • Analysis: South Korea finds US crude much cheaper than Russian grades

    08/02/2018 11:42:24 AM PDT · by 2ndDivisionVet · 5 replies
    S & P Global ^ | August 2, 2018 | Gawoon Philip Vahn, Charles Lee and Irene Tang
    Singapore — South Korean refiners have paid close to $80/b on average for Russian crude oil received in June but under $75/b for US crude arrived in the same month, a stern reminder to the industry that short-haul supplies do not always come cheap and long-haul cargoes are not necessarily expensive. South Korea has imported a total of 2.17 million barrels of crude and condensate from Russia in June and paid on average $79.24/b, latest data from state-run Korea National Oil Corp. showed. KNOC's import cost figures include freight, insurance, tax and other administrative and port charges. On the contrary,...
  • Trump Should Release SPR Oil Reserves on Monday

    07/02/2018 1:21:48 PM PDT · by FreedomNotSafety · 48 replies
    The speculators are at it again in the oil market, pushing up prices beyond the fundamentals.
  • OPEC Gives In To Trump's Demands, Agrees To Increase Production To 1 Million BBLs A Day

    06/22/2018 8:40:12 AM PDT · by Proud White Trump Supporter · 105 replies
    AP wired services twitter ^ | 6-22-18 | WiredSources
    BREAKING: OPEC countries give in to President Trump's demands, agree to increase oil production by almost 1 million barrels a day - AP
  • Gas prices are topping $4 at some Fresno stations. Ready to pay more at the pump?

    05/10/2018 8:47:55 AM PDT · by Simon Green · 55 replies
    Fresno Bee ^ | 05/09/18 | Bryant-Jon Anteola
    Gasoline prices in Fresno already increased beyond $4 per gallon this week at some places in town. And gas prices are projected to rise even more going into the summer in the aftermath of President Donald Trump’s decision to withdraw from the Iran nuclear deal. A year ago, the national average for was $2.34 for a gallon of gas, according to a CNN Money report. These days, that national average has jumped to $2.81 per gallon. Those in Fresno can probably add a dollar on top of the national price, with high state taxes and stringent standards for reformulating...
  • Trump says he will not accept high oil prices; crude dips

    04/20/2018 7:32:29 AM PDT · by mandaladon · 53 replies
    Reuters ^ | 20 Apr 2018
    WASHINGTON (Reuters) - U.S. President Donald Trump criticized OPEC on Friday for output curbs that have helped raise global oil prices and said “artificially” high prices would not be accepted, drawing rebukes from oil-producing countries as prices dipped following his remarks. “Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!” Trump wrote on Twitter. Several members of OPEC, the Organization of the Petroleum Exporting Countries, said in response that oil prices were not...
  • Gas Prices v. Tax Cuts: How Trump Can Protect His Signature Achievement

    02/24/2018 8:02:23 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | February 24, 2018 | Ken Blackwell
    During his short time in office, President Donald Trump has taken several steps that have generated robust economic growth, including signing historic tax cuts that have already led to bigger paychecks for American workers. But to ensure that Americans can keep enjoying the benefits of this popular tax cut, the administration needs to fight rising gas prices.The challenge is a familiar one. For example, in 2011, Americans’ savings from a payroll tax cut were largely negated by rising gas prices. Similarly, an analysis by the non-partisan organization Securing America’s Future Energy found that although former President George W. Bush’s tax cuts...
  • Hurricane Irma: Massive effort to ship fuel into Florida, ease gas shortages

    09/08/2017 1:54:11 PM PDT · by ColdOne · 49 replies
    foxnews.com ^ | 9/8/17 | foxnews
    The Trump administration has waived a key statute to allow for “as many ships as possible” to bring fuel into Florida, as part of a massive effort to ease gas shortages for Florida residents and others in the path of Hurricane Irma. “We’re bringing in as much supply of refined fuel as possible,” Tom Bossert, White House homeland security adviser, told reporters on Friday. The move was made in conjunction with state officials in Florida who are scrambling to get fuel to the pumps and alleviate gas shortages. Florida has taken several steps to expedite those shipments.
  • About 25 percent of U.S. Gulf oil output offline due to Harvey

    08/26/2017 4:58:15 PM PDT · by BenLurkin · 10 replies
    reuters ^ | August 26, 2017 / 11:29 AM / 5 hours ago
    That equates to roughly 428,568 barrels of oil per day out of the roughly 1.75 million bpd pumped from the Gulf. The amount of oil production offline increased from Friday, when roughly 22 percent of output was affected. About 26 percent of Gulf natural gas production is offline, or about 835 million cubic feet per day, BSEE said
  • Gas hasn't been this cheap on the Fourth of July since 2005

    07/03/2017 5:07:51 PM PDT · by upchuck · 41 replies
    Wash Exam ^ | July 3, 2017 | Emily Jashinsky
    The last time gas was this cheap in America on the Fourth of July, the Kardashians didn't even have a television show. According to AAA, the average national gas price currently sits at $2.23 per gallon. That figure hasn't dipped so low since 2005 when Fourth of July drivers also owed $2.23 on average. It's the cheapest gas has been throughout 2017 as well. "The combination of tepid demand and increased gasoline and crude output continues to put downward pressure on gas prices," AAA Spokesperson Jeanette Casselano said in a news release. The least expensive market in the country is...
  • Slump at the Gas Pump Continues Ahead of Summer Driving Season

    05/13/2017 2:41:55 AM PDT · by Paul R. · 27 replies
    GasBuddy.com ^ | May 8, 2017 | Patrick DeHaan
    The bulk of the decline in gasoline prices can be thanked on a recent plunge in crude oil prices as concern over weak demand and high supply has offset sentiment about last November’s OPEC production cuts. The number of U.S. rigs drilling stands at 877, a rise of 7 in the last week, but 462 more rigs- 111% more- than a year ago. While OPEC cut oil production, U.S. and Canadian oil companies have filled the gap, leaving OPEC to lose market share. How long the charade continues is up to OPEC, who will decide in a few weeks whether...
  • Ohio gas prices up; fuel costs expected to rise this month

    03/06/2017 6:33:09 AM PST · by davikkm · 17 replies
    Ohio’s average for regular fuel was about $2.23 per gallon in Monday’s survey from auto club AAA, the Oil Price Information Service and WEX Inc. That’s a dime more than the state average last week and well above the average of $1.87 at this time last year.
  • Obama Keeps Bragging About Low Gas Prices But He Didn’t Want Them

    12/16/2016 1:14:23 PM PST · by rhett october · 6 replies
    Resistance Feed ^ | 12-16-2016 | Rhett October
    Speaking at a campaign rally for Hillary Clinton in September, President Obama touted his economic record with these lines: “More Americans are working. More have health insurance. Incomes are rising. Poverty is falling. And gas is $2 a gallon.” First of all, the economic numbers he's bragging about are absolute smoke and mirrors. In November, Bernie Sanders told a crowd that Obama might be touting an unemployment rate of 5% or less, but that he could only claim that number when part-time jobs were counted the same as full-time jobs. According to Sanders, the real unemployment rate is over 9%....
  • Why $25 NatGas Is Possible This Winter

    11/08/2016 3:09:41 PM PST · by bananaman22 · 24 replies
    Oilprice.com ^ | 11-08-2016 | Mike
    For families using natural gas in their homes, this could be an expensive winter... or a cold one without heat. New England consumes the most liquid natural gas (LNGs) out of anywhere in North America primarily due to high population density and colder climate. Historically, the price of LNG rises in correlation to snow storms. Because of bottlenecks in the pipelines for LNG, supply is limited in the North East and a demand surge can cause a spike in price. In 2015, there were only 6 million homes that use traditional heating oil in New England, whereas nearly half of...
  • Turn in TDI Diesel or Wait Until After Election? If Trade, What to Buy?

    10/24/2016 1:53:54 PM PDT · by Chickensoup · 87 replies
    chickensoup | 10.24.16 | chickensoup
    I have a 2013 Golf TDI Diesel that I have a strong option to give back to Volkswagen. I have been waiting for the election because I have a feeling that Clinton will continue the leftist policies of crawling up gas prices. However, I have been looking for a car, just in case. My goodness! Everything out there is chock full of electronics that will make them obsolete soon. Everything out there looks like a shiny, overgrown bug. I think I need something a bit more more butch-looking. I look longingly at jeep wranglers, but I am told that they...
  • Kingdom Comedown: Falling Oil Prices Shock Saudi Middle Class

    09/25/2016 2:32:40 PM PDT · by Lorianne · 23 replies
    Wall Street Journal ^ | 23 September 2016 | Ahmed Al Omran, Nikhil Lohade
    Lower revenue hurts economy, prompting government to withdraw some benefits; as cost of living rises, consumers cut back on spending ___ With a slowing economy and shrinking foreign reserves, the kingdom is coming under pressure to take steps that support the price of oil, as it did this month with an accord it struck with Russia. ... a sharp drop in the price of oil, Saudi Arabia’s main revenue source, has forced the government to withdraw some benefits this year—raising the cost of living in the kingdom and hurting its middle class, a part of society long insulated from such...