Predictions on gas prices

[Cruising68]

Used to fill up my 36 gallon diesel for about $100. Now it costs me almost the same with a 20 gallon tank.

 

[Autoworker]

3/3/22

 

[Autoworker]

Here's your sign....

 

[Nbk4t5e]

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[TMac]

Not sure why the smiley face- based on the energy content, you're paying the equivalent of about $4.00 a gallon. How much is gas there?

 

[Nbk4t5e]

Not sure why the smiley face- based on the energy content, you're paying the equivalent of about $4.00 a gallon. How much is gas there?

My gas mileage has not changed going from 93 to E50. I know E evaporates faster but (Still at 12.5) reset it a few times also. 93 is 3.79 at this station. I’m sure I’ll see a change going full E85.

There is only one E85 station near me.


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[BillBeau]

 

[singingwhodat]

Keystone pipeline does not produce anything, it is just a transportation pipeline. And it's all Canadian tar sands oil that is sent to the gulf for refining for overseas shipment, it's not the US's oil. Lastly, tar sands oil is really not good for gasoline refining, it's too dirty and requires a lot of extra work.

Can you please explain where they refine oil in the Gulf of Mexico? I have been working in the GoM for 22 years in Oil and Gas Production and refineries offshore do not exist. Now if you are talking land based refineries in Louisiana and Texas then you are spot on.


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[ZRX61]

Local Costco was $4.49 when it opened yesterday. About two hours later it went to $4.54 & then jumped to $4.64 a few hours later.

 

[ZRX61]

The gas station where I usually top off on Sundays:

 

[ZRX61]

Used to fill up my 36 gallon diesel for about $100. Now it costs me almost the same with a 20 gallon tank.

My F350 took 60 gallons.... & that was after I removed the 17gallon third tank....

 

[TMac]

Ouch! Here in Knox, regular at Costco is 3.26 and Premium is 3.71. Other stations are higher, but I haven't seen $4 yet.

 

[Cruising68]

My F350 took 60 gallons.... & that was after I removed the 17gallon third tank....

Yikes! Wonder what that takes now to fill. Never complained about the range though. I could go 500 miles on a tank. I expect to be filling up the ST much more frequently for sure.

 

[zdubyadubya]

twitter quote

Keystone pipeline does not produce anything, it is just a transportation pipeline. And it's all Canadian tar sands oil that is sent to the gulf for refining for overseas shipment, it's not the US's oil. Lastly, tar sands oil is really not good for gasoline refining, it's too dirty and requires a lot of extra work.

a) Dan Crenshaw is an idiot

b) see second statement. anyone who thinks Keystone is or was somehow a solution to oil shortages is also an idiot.

 

[boiler662]

WTI is ~$110/barrel right now

Even if the US operators wanted to pick up 100 rigs tomorrow it wouldn't happen, 100s of rigs were laid down and scavenged for parts over the last two years. Maybe in 4 months the contractors can get rigs refurbished and ready but that's assuming they can find workers and supply chain doesn't bone them on parts. Also has anyone noticed what happened to an operators stock price over the last few weeks when they talked about increasing capital spend? I will give you a hint it didn't go up..... That might change if oil its $150 though..... and banks haven't been lending like they were 10 years ago to O&G most operators have had to adjust to living within their means like us poor folk do....

Also service companies laid off around 40% of their work force in 2020 and just now started hiring again, even if the rigs were ready there are not enough frac (thats right their is NO K) crews available to keep up with production.

 

[Jeppo]

WTI is ~$110/barrel right now

Even if the US operators wanted to pick up 100 rigs tomorrow it wouldn't happen, 100s of rigs were laid down and scavenged for parts over the last two years. Maybe in 4 months the contractors can get rigs refurbished and ready but that's assuming they can find workers and supply chain doesn't bone them on parts. Also has anyone noticed what happened to an operators stock price over the last few weeks when they talked about increasing capital spend? I will give you a hint it didn't go up..... That might change if oil its $150 though..... and banks haven't been lending like they were 10 years ago to O&G most operators have had to adjust to living within their means like us poor folk do....

Also service companies laid off around 40% of their work force in 2020 and just now started hiring again, even if the rigs were ready there are not enough frac (thats right their is NO K) crews available to keep up with production.

Almost as if Putin had a partner high in our government.

 

[zdubyadubya]

Almost as if Putin had a partner high in our government.

Lol. That's gonna ruffle some feathers with this crowd.

 

[GearHead_1]

Almost as if Putin had a partner high in our government.

Or their son.

 

[Autoworker]

3/4/22

 

[BillBeau]

The price for a barrel of crude dropped 2.73. Wow, I bet we'll see a huge decrease in the price of gas. LOL