Posted on 12/30/2017 8:06:05 PM PST by Rabin
The U.S. oil production in October was over 298 million barrels, or 25 million barrels more than that in January. And its production capability was over 9.6 million barrels a day, or 9.2 percent higher than January.
"U.S. crude oil production in October rose to the highest in more than 46 years and the production is expected to continue rising in 2018 to past historical level recorded in 1971 which will have significant effects on global energy balance,"
(Excerpt) Read more at brudirect.com ...
How about the fast rising price of heating oil even before the cold snap. Up 70 cents per gallon between September and the beginning of December. No doubt a bunch more by now. Multiply that out by 275(Gallons) for each tank of heating oil.
That is a major hurt!
Hawaii needs a new refinery the most in order to take care of fueling needs of our Pacific fleet. Puerto Rico could also use one. An added advantage in Puerto Rico is that it would provide jobs for the locals.
I understand that a small (10,000BPD) refinery is being built in West Texas. At that rate, It’ll only satisfy local demand for gasoline, diesel and fuel oil. Not much more.
I think he already is.
As an energy source, LNG is looking better every year. Europe is waiting with baited breath for its import.
One of the major cost is, as everyone knows, regulation.
One of the major gripes that the oil industry as with Chemical and Electric generation is ever changing regulation.
The regulations in place when you first draw up plans for a plant are not likely to be the regulations in place when you are ready to come on line.
Thus, the plant that you designed at the outset is not the plant that start production. A company is often re-engineering a plant all through construction because the EPA or some other regulator changes governing regulations at some point after they had approved construction.
One of Trump’s platform planks was streamlining regulations. Freezing regulations at the time of construction permit would be a great boon to industry. Even better would be having regulations for a plant frozen for the first 10 years of production.
Pass laws like that and watch the economy grow!
Careful. they will all move there and bring Kalifornia values. You don’t want that. Moved out of there 16 years ago to a secret SE state. Loving it.
I don’t think I would go that far with regards to gas prices. They are outrageous in Florida quite frankly.
Don’t move to Florida.....it is 2.52 a gallon. You better find somewhere else.
Isn’t your sales tax like 10 percent? No thanks.
Good grief....you obviously pulled those states out of your butt. Massachusetts is lower then majority of states and so are others. lol. Trump state Pennsylvania is the WORST.
Regulations don’t help anything, agreed. Major producers wouldn’t build new refineries with no regulations. ROI just isn’t there. Where would you build one? In Wyoming? They are already concentrated near oil sources and coastal areas. Pipelines to existing facilities are fought tooth and nail as it is, new ones would require more
Well, I mis-remembered that fact...It is a massive new petrochemical plant under construction in TX.
Yikes! You are correct...
There is just that one little consideration of the weather.
KSA & OPEC cut back production; Venezuela falling some 250,000 BBL day from 1/1/17; West Texas crude (WTI) at $60 BBL, up 15% since June and rising.
Gas prices are going up.
I wouldn’t put a garage biofuel plant in PR. It is a write off IMHO.
$2.79/gal in my part of the People's Socialist RepuliK of Illanoyed. Seems like it's gone up 50 cents plus in the last 30 days. (my sense of time may be off here...)
I think you are not quite accurate as a new one was built in ND that went on line in 2015.
There are others in the planning stages in ND, and I believe there is one under construction now being build by an Indian Tribe.
http://fuelfix.com/blog/2013/05/10/ground-broken-for-oil-refinery-on-nd-reservation/
Since ND became a major producer, with minimal leftists in the state, it only makes sense to start construction keeping the jobs and more of the oil money in the state.
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