Here we go again with oil Prices

[luvrbus]

Oil is trading for 82 dollars a barrel and they predict 100 dollars a barrel by years end and double the price in 2 years.Sad politics get involed in our way of life,I am not ready for EV's yet but they are forcing it on us

[muldoonman]

Still have a few Friends out West Texas way (Permian Basin) in the Oil Business. They keep trying and putting more Regs on them to kill the Industry. Don't like to post Political Stuff but Hope the Democrats are happy with the progress.

[luvrbus]

Still have a few Friends out West Texas way (Permian Basin) in the Oil Business. They keep trying and putting more Regs on them to kill the Industry. Don't like to post Political Stuff but Hope the Democrats are happy with the progress.

Yep sad when a great country has more debt than the economy is worth 26 trillion economy and 32 trillion of debt,take that balance sheet to a banker and he would toss you out of the bank   

[CrabbyMilton]

This problem would be greatly offset if we would drill for oil here rather than be so dependent on nations that hate us.

[luvrbus]

This problem would be greatly offset if we would drill for oil here rather than be so dependent on nations that hate us.

We are headed for $5.00 a gal for fuel again,here in the US our fuel has always been subsidized just like milk,some want that gone and it will probably happen if we don't have a change in 2024 

[muldoonman]

It will be better once these Pricks get the Gas Stove's , Refrigerator's, Incandescent Light Bulb's and Oil and the List goes on and on,  shut down. Can't wait.

[Ed Hackenbruch]

Just talked to a friend in the Seattle area, he said gas was just over $5 a gallon. We are paying $3.71 in Payson Az.

[Dave5Cs]

Kansas  here is $3.52 for both gas and diesel. Thats a first at the same price .

[luvrbus]

We are at $3.21 is lowest for both Diesel and Gasoline,it could be lower today,yep Sams is $3.09 for regular gas and diesel is $3.29 today

[windtrader]

wow Clifford - wasting no time - first to bat with a political swing. ah..wth.. i'll bite
What y'all whining about 5 buck diesel. It never got below 5, next jump hate think it rings 6. and that is not a stretch, there are plenty of places today at 5.50 or more.
Clifford slowly thinking EV is coming? Nah!
Here is something to chew on.  You can calculate cost of gas, here is the EV version.So you drive 1,000 a month or 12,000 a year. Most SUV size EV use about 35-40 kWh per 100 miles so about 350 to 450 kWh per month. I just looked up my rates and that would be about $75 per MONTH!

If you take an honest look, EV is already here and make a compelling economic case not to jump now.

[bobofthenorth]

 Bring on that $100+ oil.  My Canadian heavy oil stocks are loving the 2nd half of 2023.  We've got lots and we were ready to build the pipe to send it south.  Just saying. 

[lvmci]

A.P.
Gas prices are rising (again). The heat and supply cuts impact what you pay at the pump, experts say
By WYATTE GRANTHAM-PHILIPS
Today
NEW YORK (AP) — U.S. gas prices are continuing to rise — giving drivers across the country another headache at the pump.

The national average for gas prices stood at about $3.82 a gallon on Thursday — about 29 cents higher than that seen one month ago, according to motor club AAA. While today’s prices at the pump remain far lower than they were last year, when energy costs soared worldwide in the months following Russia’s invasion of Ukraine, experts say such a jump is unusual.

The rising prices are especially interesting as “fewer people are fueling up” their cars this summer compared to years past, AAA spokesperson Andrew Gross explained in an interview this week.

In the U.S., gasoline prices are highly dependent on crude oil — which has also climbed over recent weeks. West Texas Intermediate crude, the U.S. benchmark, traded over $81 a barrel Thursday afternoon. That marks a $12 jump since July 3, according to OPIS global head of energy analysis Tom Kloza.

The 3 Baltic nations plan to accelerate their exit from Russia's power grid by almost a year

Why are gas prices rising? Experts point to extreme heat and oil production cuts.

A few factors are causing oil prices to rise, analysts say, including impacts of this summer’s extreme heat on refineries and global supply production cuts — notably from Saudi Arabia, which on Thursday extended its unilateral reduction of 1 million barrels a day through the end of September...

[luvrbus]

Heat shouldn't have any impact on gasoline refining it is distilled @ 110C from crude oil that is heated to 300C to 350C to start the process

[windtrader]

But Saudi oil production does affect prices. lol Also, what is Joe doing about replacing the oil used from the strategic oil reserves. With the election next year, it's a likely bet govt. won't do anything that would pressure prices up and dump it on the next administration.

[luvrbus]

Production cost for drilling here has gone through the roof,I have friend in New Mexico that owns 4 deep well rigs,and labor,fuel and parts are killing him on old contracts he is trying to complete lol he even complains about the price of porta can toilets that has doubled in price,each of  his rigs will use 7 to 8,000 gals of diesel a week.This country is headed for a hard landing, even the Mexican peso is gaining on the dollar