National Average Price of Gasoline Hits an All-Time High

[hog88]

Not even that much. The XL pipeline was a ploy to get Canadian oil to the gulf on public land so Canadian energy producers could sell it. How anyone was duped into believing it was going to make gas cheaper is bewildering.

Every barrel on the market increases supply and lowers price, how could anyone be duped into believing otherwise?

 

[BigOrangeMojo]

Xavier Becerra is over Health and Human Services. Much like Granholm, he has no experience in his field but his (limited) private career consisted of being a far left legal academic (just like Granholm). The Baby formula crisis falls at his feet and you see why the administration fumbled it. The guy in charge has no clue of what he is doing in that role.

 

[Septic]

People are very short sighted on oil. Curbing permits and discouraging new infrastructure will really hurt.... Years from now.

76% of oil is drilled on private land.

There is a huge stack of permits to work through.

1/3 of our existing wells are still turned off from pre-pandemic levels

Oil companies are meeting current demand and consumers have yet to balk at prices.

Record profits for Exxon, Chevron, etc.

High prices have way of taking care of themselves in the short run. Home equity and credit card balances continue to grow rapidly. We'll all pull back soon enough.

We have plenty of supply for the foreseeable future.

Is Biden an idiot? Of course he is. Pretty much everyone in Washington thinks short term. When things go wrong, they start talking about gays or woke stuff to distract us.

Nobody should be too worried about energy prices right now (well, some low income folks should probably be concernd about winter heating bills).

What should terrify us is ten-fifteen years from now. 10-15 years from now 1 billion people will be able to afford their first car. Many of these will be in India.

We need to act now ... But not because gas is $10 in California. We need to act now because $10/gal will be the norm in 10-15 years if we don't get moving.

We need a long term (25-50 year) plan to move off oil, but we need a plan to drill and refine more right now. Not because of this temporary blip, but because of what's coming.

But Kardashians, alphabet soup gender stuff, fights with Disney World other nonsense will soon take our attention elsewhere when prices go down later this year or early next year.

The question is who is going to step up and start building refineries?

 

[Septic]

Every barrel on the market increases supply and lowers price, how could anyone be duped into believing otherwise?

Of course it does, but crude supply isn't the problem - refined product is where the bottleneck is.

 

[BigOrangeMojo]

I voted for Biden. I knew he was old and mentally limited but I thought he would fill out his Cabinet with competent hires. Instead he caved in to the liberal wing and hired bunch of far left academics into roles they weren't suited for. I made a mistake.

This is partially why we are here today.

 

[BigOrangeMojo]

The question is who is going to step up and start building refineries?

The question is who is going to step up and let existing refineries make the improvements on existing facilities in order to increase refining capacity?

 

[hog88]

Of course it does, but crude supply isn't the problem - refined product is where the bottleneck is.

Yes and we have refineries down on the Gulf set up to refine that heavy product like that and they are not running at full capacity because of the supply in raw product.

 

[hog88]

I voted for Biden. I knew he was old and mentally limited but I thought he would fill out his Cabinet with competent hires. Instead he caved in to the liberal wing and hired bunch of far left academics into roles they weren't suited for. I made a mistake.

This is partially why we are here today.

You're the first I've seen admit it. Bravo!

 

[BigOrangeMojo]

You're the first I've seen admit it. Bravo!

I know we don't always agree but I do like to consider myself as someone who will put blame on both parties when justified....

 

[Sandman 423]

Every barrel on the market increases supply and lowers price, how could anyone be duped into believing otherwise?

 

[Septic]

Yes and we have refineries down on the Gulf set up to refine that heavy product like that and they are not running at full capacity because of the supply in raw product.

They aren't running at full capacity because of the covid shutdowns, weather issues and the labor hangover. Even then, the refineries that are open are at 95%+ capacity. The profit margins are huge right now and as one would expect, they're doing everything they can to take advantage without having to actually spend capital to expand.

 

[hog88]

I know we don't always agree but I do like to consider myself as someone who will put blame on both parties when justified....

Both parties are equally to blame, when you boil it all down there's not much difference between the two.

 

[Majors]

I voted for Biden. I knew he was old and mentally limited but I thought he would fill out his Cabinet with competent hires. Instead he caved in to the liberal wing and hired bunch of far left academics into roles they weren't suited for. I made a mistake.

This is partially why we are here today.

I applaud you! Who's next, this is a safe place. Let it out and start to make it right.

 

[hog88]

They aren't running at full capacity because of the covid shutdowns, weather issues and the labor hangover. Even then, the refineries that are open are at 95%+ capacity. The profit margins are huge right now and as one would expect, they're doing everything they can to take advantage without having to actually spend capital to expand.

Most of our Gulf coast refineries are designed to handle heavy crude and depend on it because they are not set up to refine sweet crude. They are staying at around 90% capacity by shipping on trains and barges which is a hell of a lot more expensive and dangerous than a pipeline. They have even revered a pipeline that used to carry sweet crude to the Midwest refineries from TX. Face it, Biden killing the XL project hurt and the continued hostility towards the oil industry from exploration to production and distribution will hurt us for years to come.

 

[Majors]

Most of our Gulf coast refineries are designed to handle heavy crude and depend on it because they are not set up to refine sweet crude. They are staying at around 90% capacity by shipping on trains and barges which is a hell of a lot more expensive and dangerous than a pipeline. They have even revered a pipeline that used to carry sweet crude to the Midwest refineries from TX. Face it, Biden killing the XL project hurt and the continued hostility towards the oil industry from exploration to production and distribution will hurt us for years to come.

Gets it! Right out of the shoot he was destined to do his part to create the need for foreign oil and get back to the old way of how things are “supposed to be”

 

[NorthDallas40]

So I just saw a news piece that various coal power generation plants are going bankrupt and we’re going to lose another 12GW of capacity this year generated by coal? Additionally coal prices are up like almost 300% this year if I heard right?

That moron in the White House has no coherent energy plan. It plain to anybody who can see.

(wait I take that back. His plan it to destroy our power generation capacity and make it unaffordable and he’s succeeding beyond expectations I’d guess)

 

[hog88]

So I just saw a news piece that various coal power generation plants are going bankrupt and we’re going to lose another 12GW of capacity this year generated by coal? Additionally coal prices are up like almost 300% this year if I heard right?

That moron in the White House has no coherent energy plan. It plain to anybody who can see.

(wait I take that back. His plan it to destroy our power generation capacity and make it unaffordable and he’s succeeding beyond expectations I’d guess)

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It's not by coincidence that this is going on.

 

[NorthDallas40]

It's not by coincidence that this is going on.

The way things keep piling on it’s hard to believe somebody is this incompetent. But you can’t discount that based on his stupidity to date

 

[Orangeburst]

The way things keep piling on it’s hard to believe somebody is this incompetent. But you can’t discount that based on his stupidity to date

He said he was going to eliminate the fossil fuel industry
Probably only truthful thing he has said

 

[allvol123]

He said he was going to eliminate the fossil fuel industry
Probably only truthful thing he has said

But he caint do nuffin. At least that is what I keep hearing.

 

[hog88]

The way things keep piling on it’s hard to believe somebody is this incompetent. But you can’t discount that based on his stupidity to date

Biden is a puppet, he isn't making any decisions.

 

[DancingOutlaw]

He said he was going to eliminate the fossil fuel industry
Probably only truthful thing he has said

The problem with this is you must have a period of transition. The car didn't replace the horse overnight. They seem to think you can just declare EV the standard and everything will magically change over. We don't have the ability to produce these vehicles at a rate high enough to meet demand for cars and trucks, let alone even get the materials out of the ground for the batteries. And we are completely glossing over that the average person cannot afford most of these cars at their current prices. Maybe there will be EV stimmy checks in our future.

They're openly hostile to anything fossil fuel and then they want to turn around and complain that big oil/gas/coal won't invest in building out more capacity. Instead they do share buybacks or dividends in a display of peak capitalism. Or it's a perfect illustration of how the private sector reacts to the government calling for the death of your industry.

 

[NorthDallas40]

Biden is a puppet, he isn't making any decisions.

Agreed

 

[Majors]

It's not by coincidence that this is going on.

Like a manufactured virus during an election cycle when all indicators pointed towards re-election by Trump. Weird how these things tend to happen.

 

[BigOrangeMojo]

Like a manufactured virus during an election cycle when all indicators pointed towards re-election by Trump. Weird how these things tend to happen.

Just because I regret voting for Biden doesn't mean I won't call out stupid stuff.

The Dems aren't smart enough to create a virus, unleash it just to win an election. China wasn't going to shut down their economy just to get Trump out. Early in 2020, the polls, approval ratings, predictive models, and Vegas odds had Trump losing.

Now, did the Dems take advantage of the virus? Yes, they did.