Gas Prices Low! FOR NOW...

[Richard]

^ considering the United States consumes almost 19 million barrels a day,that’s not even a drop in the bucket,looks good though,doing something without doing anything.

[Zacha341]

^ Well in a way I hope it does nothing disastrous for Detroit, MI or nationwide!

[Henry Whalley]

^ considering the United States consumes almost 19 million barrels a day,that’s not even a drop in the bucket,looks good though,doing something without doing anything.

Ditto. IMHO current gas prices do not warrant releasing strategic reserves. Drivers should conserve. I'd support issuing special ration cards for school buses, and to drivers who shuttle patients, or deliver medicine, groceries, food, and other essentials items.

[Richard]

Ditto. IMHO current gas prices do not warrant releasing strategic reserves. Drivers should conserve. I'd support issuing special ration cards for school buses, and to drivers who shuttle patients, or deliver medicine, groceries, food, and other essentials items.

I agree,the release of the reserves is just a warning to OPEC,saying lower prices or we will flood it with cheap reserve oil.

They know,release it today and it will be months before it gets into the system.

It was $38 a barrel during the pandemic and now $80 and over 50% of our production is sitting idle.

These oil games have been going on forever,but between green costs and the price of oil,it’s going to be an expensive winter for many.

I am paying about 30c more per gallon compared to during the pandemic,but even at that when considering other goods have seen prices increase over 600% and food costs have gone through the ceiling,at $3.99 a gallon what I paid for high test is cheap comparatively.

The absurdity in it all is in telling OPEC to increase production while we idle our production,we do not need OPEC dictating to us,let alone all of the 1000s of American oil workers sitting idle.

[Richard]

Well heck,looks like 18 million of the 50 million barrels being pulled out of the reserves is going to China and India.

The response from our energy Secretary,who you all know so well,translates into , well if everybody switches to alternative energy we would not have to worry about these things.

Small consolation to the Americans that are going to be paying the price this winter.

China really? They are not our friends,we might as well be sending them hookers and blow while we are at it,to make sure they keep happy.

Making America last,reduce production in this country while continuing to export more then we create and on top of it,drain the reserves so when the time comes it can be said - oops no more oil suck it up with EVs that will not exist on a large scale.

A few short years ago we became energy dependent for the first time in 50 years,we went that quick to depending on others and at their whim.

There is no oil shortage,the administration is creating an oil shortage on paper by exporting more so what we are using does not meet the demand.

Thats how they are paying for the green programs,by selling off our oil and reserves,I am glad I am not in the lower income bracket or fixed income where in the upcoming months they will be having to choose between transportation or food.

But then again they do not matter anyways in the grand scheme of things.

Them OPEC scoundrels are the reason for our demise blame them - OPEC says - stop dumping your oil on the market to cash out while driving up the costs in order to maximize profit.

Everything we see,taste,touch or feel was created using fossil fuel,it is not just the pump where it is impacted.

2021 saw the largest poverty rate rise in America sense the 1960s,over 60% of the population is living paycheck to paycheck,what happens now as there is an additional increase of 40% in the cost of living across the board as it is now?

Millions that were at or just above that poverty line,will be now below it.

These Cities that think 60,000 homeless in their streets are a laughing matter,hold my beer,that’s getting ready to double.

Thats why they hate coal so much,it’s not that it is dirty,it can be burned clean,it is because it can be sent to market so cheap that anybody can afford it,they do not want low cost energy solutions,everything under the trillions mark is chump change,to bad about those low income folks they do not contribute to our campaigns,so they do not count anyways.

Canada supplies 62% of our imported oil,Saudi Arabia 7 %,they only supply unrefined heavy crude used in our shipping industry.

OPEC does not control the flow of oil,they set the price according to production and determines value based on supply and demand.

We created artificial demand and increased costs at the beginning of 2021 when we began exporting more then we were producing,so we were flipping oil and OPEC said not so fast there.

If we slowed our exports tomorrow,there would be no shortage and the price will go down.

Did they not tell you there was a shortage of transport ships causing shipping delays,shortages and increased prices.

Notice There is no shortage of tankers when we want to export our oil and get paid?

[Gistok]

Here's the crap about 18 million barrels [out of 50 million] going to China and India.

It says at FOX NEWS that 18 million barrels of "SOUR CRUDE" oil from the Gulf of Mexico is going to India and China, because sour crude is not wanted by American refineries...

https://www.foxbusiness.com/politics...ed-china-india


"China and India have been actively purchasing U.S. sour crude oil produced in the Gulf of Mexico, first reported Bloomberg.

Sour crude oil contains high levels of sulfur, which reportedly makes it more expensive to process and traditionally turns buyers away.

But U.S.-produced sour crude oil appeals to foreign buyers because of its relatively affordable price tag, the publication said."

So now this begs the question... why would the US put sour crude into the national petroleum reserve?

That oil is likely not in the petroleum reserve. Only oil that will be processed by USA refineries. So this is likely just the Gulf of Mexico sour crude that overseas buyer buy from the USA, since American refineries don't seem to want it.

And yet Fox New spins this into a tale that this sour crude oil is part of the national petroleum reserve. Nice... I'm sure a lot of gullible folks believe that. But most folks on this forum are smart enough to see thru Fox News spinning of the facts...

P.S. In my search engine search, I could find no other news source that mentions that 18 million of the national petroleum reserve is going to China and India.... just Fox News.

[Honky Tonk]

But most folks on this forum are smart enough to see thru Fox News spinning of the facts...

I think most folks are smart enough to see through ALL the bullshit being spun on this forum.

[Zacha341]

As news oligarchies become more powerful, and centralized [Pravda-like] it's becoming simply prudent - at minimum - beyond politics, to seek alternative sources [and no I'm not affirming Fox News].

The continued argument about rather they report anything of value is the SURFACE stuffs. Withstanding party-loyalty and the other distractions [such as what did Fox say stupid last Tuesday] more people are aware that something is very wrong, and lawless, yet even more authoritarian control being exerted at various levels, and areas for our collective 'benefit', increasingly.

Increasingly mainstream news outlets here/ there release reports questioning choices and policies of this admin impacting this nation and each state.

Where they don't/ wont more independents are reporting-out news and information. Sans the appointed/ anointed media gateways, servers and portals.

The inarguable issues and density of problems we're facing [initially flat-line negated as solely Foxnews-isms] are starting to be reported, decimated, leaked and discussed WELL beyond that caricaturized news outlet.

Demanded so from Detroiter's identifying with the middle/ moderate view - neither far left or right winged! We want answers; refuse the continued handling, daily, status quo, and warm-milk feeding of the mainstream news.

And no, don't just tell us to go get an EV [in response to the oil shannigans, etc.]. Their cost is out of reach for more than a few Detroiter's. And we can't all for the sake of altruism and sustainability fit on the bus! Routes have been reduced and we need to get to work. On time.

[Gistok]

I think most folks are smart enough to see through ALL the bullshit being spun on this forum.

I call bullshit, and explain why... you prefer sound bites.

[Zacha341]

Anyone remember these prices [March 20, 2020] or have we just learned to justify the new $3.50+ pricing?

How low can it go?


Attachment 39919

[Honky Tonk]

I call bullshit, and explain why... you prefer sound bites.

Here you go. It even has a video option in case you're unable to get through the written pages.

https://www.npr.org/2021/11/17/10567...climate-summit

You call bullshit then post a different variety of bullshit.

[Jimaz]

... But most folks on this forum are smart enough to see thru Fox News spinning of the facts... ...

To be unaware that one is unaware is not the same as being aware.

This is the fundamental mistake made by Fox News viewers. All their other errors derive from that.

[Zacha341]

Yikes! I heard about this reported on one of the off-the-grid sources.

NPR may loose a slice of that anointed, appointed, royal federal funding if they keep reporting this kind of news........

Here you go. It even has a video option in case you're unable to get through the written pages.

https://www.npr.org/2021/11/17/10567...climate-summit....

[Honky Tonk]

To be unaware that one is unaware is not the same as being aware.

This is the fundamental mistake made by Fox News viewers. All their other errors derive from that.

Here you go. Sorry, no cartoon option.

https://www.google.com/amp/s/www.for...very-fast/amp/

[Honky Tonk]

Yikes! I heard about this reported on one of the off-the-grid sources.

NPR may loose a slice of that anointed, appointed, royal federal funding if they keep reporting this kind of news........

Right. Not only am I supposed to go into hock to buy a $100K plus EV vehicle, DTE keeps sending me emails to contribute monthly to "clean" energy.

[Zacha341]

^ Hah! Um, YOU'RE not suppose to buy anything! That price is exclusive to those affording such with little change in their lives including tripled heating and cooling bills, high food pricing etc.

The goal is that you give up 'private' driving. And a whole of things that used to be private unless your a member of the new oligarchy of power, control and influence. Come on - get used to it!

You don't 'REALLY' need a car.

That's just another planet-killing, materialistic trinket of the bourgeoisie [you'll be told]. It's an old story.

Time to give up that iPhone? Yet? How's about science's modern triumph known as refrigeration? That box in your kitchen.

The poor and shrinking lower middle-class are impacted first.

[Dumpling]

Gistok put this item in post #106 earlier today, above:

https://www.foxbusiness.com/politics...ed-china-india

In this item the subheadline reads as follows:

"U.S. taps 50 million barrels of oil from reserves
in an attempt to tamper spiking costs at the gas pump".

"Tamper" [with an a] implies causing damage to
an item without authorization to do so.

"Temper" [with an e] means to moderate something, or
make it stronger, or make it less harsh.

It might have been a Freudian slip, but the headline
wording as phrased with "tamper" in it makes it sound as though
the Biden administration is manipulating gas prices
somehow to increase them perhaps or make them more
volatile perhaps.

[Zacha341]

^ What a world and time. And as I said all of this is WELL beyond Fox-snews.

[Dumpling]

There is some gasoline price point, along with some expected
length of time that this price is anticipated to remain in existence,
tempered by governmental restrictions on the quantity of
pollutants allowed, that precipitates a changeover at refineries
to the use of heavy sour crude feedstock.

[To rephrase using the Fox News word]

There is some gasoline price point, along with some expected
length of time that this price is anticipated to remain in existence,
tampered by governmental restrictions on the quantity of
pollutants allowed, that precipitates a changeover at refineries
to the use of heavy sour crude feedstock.

[Richard]

Here's the crap about 18 million barrels [out of 50 million] going to China and India.

It says at FOX NEWS that 18 million barrels of "SOUR CRUDE" oil from the Gulf of Mexico is going to India and China, because sour crude is not wanted by American refineries...

https://www.foxbusiness.com/politics...ed-china-india


"China and India have been actively purchasing U.S. sour crude oil produced in the Gulf of Mexico, first reported Bloomberg.

Sour crude oil contains high levels of sulfur, which reportedly makes it more expensive to process and traditionally turns buyers away.

But U.S.-produced sour crude oil appeals to foreign buyers because of its relatively affordable price tag, the publication said."

So now this begs the question... why would the US put sour crude into the national petroleum reserve?

That oil is likely not in the petroleum reserve. Only oil that will be processed by USA refineries. So this is likely just the Gulf of Mexico sour crude that overseas buyer buy from the USA, since American refineries don't seem to want it.

And yet Fox New spins this into a tale that this sour crude oil is part of the national petroleum reserve. Nice... I'm sure a lot of gullible folks believe that. But most folks on this forum are smart enough to see thru Fox News spinning of the facts...

P.S. In my search engine search, I could find no other news source that mentions that 18 million of the national petroleum reserve is going to China and India.... just Fox News.

Why are you reading Fox News while ASSuming everybody else does.

When they release the crude,they are loaning it to the refiners who in return are obligated to replace it.

Sweet or sour is irrelevant,because it is all stored in the same caverns and the refiners send it as a refined product in this case because China does not have the capacity to refine it.

The reserves are reserved for United States use only and not to put on the National market and are supposed to be released in a emergency use only.

This release is not about an emergency in the United States,it is about a political coordinated effort across many countries to control OPEC.

Asian countries joined the U.S. releasing oil, sending a political signal of support, but one with little oil market value as the quantities involved were small, disappointing traders.
India said it will release 5 million barrels, according to a statement. China didn’t disclose its contribution, but one Western official familiar with the matter said it would be relatively small, in the 7 million-to-15 million barrels range. South Korea said it will decide on details such as volume and timing after discussing with partner countries but indicated it could be about 3.5 million barrels. Japan indicated it would release 5 million barrels or less. The U.K. contribution is expected to be even smaller, the same official said.
“This is a hugely political move, and the Asian countries are adding only small, largely symbolic amounts,” said Amrita Sen, co-founder of consultant Energy Aspects Ltd. in London.

https://gcaptain.com/biden-orders-re...lenge-to-opec/

Notice it reads China contributions are estimated in the 7 to 15 million barrels range,China gets 70% of its oil from Venezuela.

If China sends its own oil into the pot it will drive the price up in China ,that is why the United States is sending oil to them and others.

So they can join the fight against OPEC without their own prices escalating,at our expense.

This is all about going after the ones who actually control the price of oil OPEC,hedge funds and fossil fuel speculators and in the bigger picture the fossil fuel investment structure and the elimination of.

The crude is released as a loan to refiners,as a way to increase production and lower prices ,who then have to replace it,they are in essence borrowing it,how do you think they are going to replace it without increasing the price at the pump to pay for the current production while also paying for the loan from the reserves ?

They are not specifically saying what kind of drawdown they are doing,there are several types.

If it was a limited drawdown they are regulated to only 30,000,000 barrels maximum.

The problem is they are not doing the drawdown in order to address high prices at the pumps,they are doing it because in their bigger picture they are going after the entire fossil fuel structure and how it plays into GREEN,they are trying to remove the power structure in place as it relates to fossil fuels.

Zoom out Gistok and take everything into context,they like using the price as the pump as the straw man,because people then become focused on that only.

This administration does not give a damn about the price at the pump,their whole agenda is the elimination of fossil fuels,not paying attention much?

The higher the price of fossil fuels and the price it costs,including everything related gives them a reason to say - See alternative energy will be cheaper,if you convert over to it you will not have these issues.

Which is exactly what the energy Secretary said.

This is about the United States government trying to take control of the energy market.

Green or not,energy is a commodity,that is bought,sold and traded,to tell the public that green energy will have a lower price fluctuation rate then fossil fuel and that is the reason to switch is BS ,they know the market forces control the price,this is why they are trying to take control of the market.

If the government controls the energy market,they control its path.

They are not trying to control energy by releasing the reserves into the United States and its consumption market,they are trying to control energy with a coordinated attack world wide including our allies,when the price at the pump shoots up in those countries as a result,then they will have to answer to their populations and the first thing they are going to do is blame the United States.

[Király]

Anyone remember these prices [March 20, 2020] or have we just learned to justify the new $3.50+ pricing?

Price here in Vancouver today: C$1.61 per litre = US$4.77 per US gallon

[Gistok]

Here you go. It even has a video option in case you're unable to get through the written pages.

https://www.npr.org/2021/11/17/10567...climate-summit

You call bullshit then post a different variety of bullshit.

Thanks for posting nothing at all related to what I called BULLSHIT on... I said that FOX NEWS mentioning that 18 million gallons of the 50 million gallon Petroleum Reserve went to China and India.

Um.... your link did not mention anything at all related to what I posted BULLSHIT on... [the Fox post saying part of the 50 million barrel petroleum reserve is for China and India] but your link talks about "oil leases" that are years into the future, with no mention of China and India, let alone anything that the Fox article or Richard mentioned.

If your argument is that Biden's oil strategy is inept... that's not what I called out, nor do I necessarily totally disagree with that assessment.

Maybe you are mixing my comments up with someone else's, because we're obviously not on the same BULLSHIT page...

[Richard]

Biden, facing low approval ratings and accelerating inflation ahead of next year's congressional elections, has grown frustrated at repeatedly asking the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, to pump more oil without any response.

https://www.reuters.com/markets/comm...es-2021-11-23/

They did not respond because they were getting screwed.

OPEC Oil Production Has Recovered, U.S. Production Has Not


It’s a Policy Choice

The stagnation in US domestic production is no accident, the Biden administration has intentionally implemented policies seeking to reduce or eliminate domestic oil production. The administration instituted a moratorium on leasing on federal lands which was rejected by the courts, but continues to slow-walk permitting and approvals. The administration has limited exploration in Alaska, has announced swinging regulations on methane and water regulation, and has proposed new taxes and deduction limitations targeting the oil and gas industry. Other planned regulations from the administration are expected to impact the oil and gas industry as well.

Some of these policy choices directly suppress domestic production, others make domestic production more expensive, but the outcome for both is the same: reduced investment in domestic oil and gas production. Thus, the failure of US oil production to recover is not an accident, it is the deliberate policy choice of the current administration.

https://www.instituteforenergyresearch.org/fossil-fuels/gas-and-oil/opec-oil-production-has-recovered-the-us-has-not/

"Production levels are at almost the highest levels we've ever seen in the Gulf of Mexico and we see the Gulf as one of the most attractive basins in terms of oil and gas discovery prospects in the world," he said.

https://www.npr.org/2021/11/17/10567...climate-summit

That is from the link that HT posted.

What was the first thing that happened after the election,days after,production in the United States was throttled and the production that was left,which was and still is plenty to supply our needs was put up for sale to other countries at a cheap rate in order to undercut other nations.

OPEC raised the prices to cover the losses that we were generating,if they had not,the system would have crashed and economies destroyed ,they were given no choice.

To say OPEC is to blame in this game as eloquently as stated ,bullshit.

Who is OPEC

Organization of the Petroleum Exporting Countries [[OPEC) was founded in Baghdad, Iraq, with the signing of an agreement in September 1960 by five countries namely Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. They were to become the Founder Members of the Organization.These countries were later joined by Qatar [[1961), Indonesia [[1962), Libya [[1962), the United Arab Emirates [[1967), Algeria [[1969), Nigeria [[1971), Ecuador [[1973), Gabon [[1975), Angola [[2007), Equatorial Guinea [[2017) and Congo [[2018).

Ecuador suspended its membership in December 1992, rejoined OPEC in October 2007, but decided to withdraw its membership of OPEC effective 1 January 2020. Indonesia suspended its membership in January 2009, reactivated it again in January 2016, but decided to suspend its membership once more at the 171^stMeeting of the OPEC Conference on 30 November 2016. Gabon terminated its membership in January 1995. However, it rejoined the Organization in July 2016. Qatar terminated its membership on 1 January 2019.


Tell me this,when we have enough production capabilities in this country to where we do not have to bow to OPEC why are we even communicating with our sworn enemies in this world.



The U.S. Energy Information Administration [[EIA) predicts that under the Biden Administration, the U.S. will now once again import more oil than it exports in 2021.

In the forecast the EIA states:
“...increasing crude oil imports will drive the growth in net petroleum imports in 2021 and 2022 and more than offset changes in refined product net trade. EIA forecasts that net imports of crude oil will increase from its 2020 average of 2.7 million barrels per day [[b/d) to 3.7 million b/d in 2021 and 4.4 million b/d in 2022.”

https://www.cnsnews.com/blog/quinn-w...ts-under-biden

When you stop production in this country and switch back to imported oil,then the price will rise.

That was the goal.

[Jimaz]

I'm not hearing much to explain the $5/gallon prices we're seeing now but I did find this recent testimony by Shameek Konar, CEO of Pilot Flying J truck stops. He claims that Union Pacific has been throttling diesel shipments.

It's a boring 20 minutes. Take it for what it's worth.

SEVERE OIL SHORTAGES ARE COMING:
Shameek Konar testifies to the Surface Transportation Board

[Rocket]

The president said the other day [paraphrasing here] that the high prices were a good thing, that it would help usher in the switch to renewables.


He forgot to mention that solar and wind are quite dirty, and electric cars have a higher carbon footprint than gas ones. But I supposed he forgets a lot of things at his age.

If you make $150k and up, this isn't a big deal. But if you're lower income, this tactic is crushing to the family budget, both in terms of filling up the family car, and in what it does to food and goods prices.