National Average Price of Gasoline Hits an All-Time High

[hog88]

Certainly politicians are elected through knee jerk reactions to short term problems.

I would not give Carter credit for a rise in domestic oil production during his term when Nixon approved the Alaska pipeline.

4 refineries (Galena Park was the first 17 years) opened under Obama but I probably wouldn't give him credit for that.

US oil production fell steadily for decades....from 10% under Nixon imports to 50% under W. Bush. The only thing that turned that around was fracking, and we've learned we need sustained high prices for that to work out.

I'm no Biden fan but I think that Presidents have little to nothing to do with short term pricing and mostly get in the way by pontificating about flying electric cars and burning switchgrass fuels.

Fracking is used mostly in natural gas exploration not so much in oil.

 

[Orangeburst]

In Saudi Arabia, where the government controls oil production, the price per gallon is $2.26 dollars. (if my math is correct).

Do they refine in house?

 

[landscapingvol]

In Saudi Arabia, where the government controls oil production, the price per gallon is $2.26 dollars. (if my math is correct).

And much lower in other major oil producing nations but for some strange reason the US seems to be the only one impacted by “fluctuations in the market” and not our own government policies

 

[DancingOutlaw]

Do they refine in house?

Aramco has its own refineries. And that gas is 95 octane. When my FIL was there I think he was paying $1/gal. He said if you don't have a V8 SUV over there you're a loser.

 

[Orangeburst]

Aramco has its own refineries. And that gas is 95 octane. When my FIL was there I think he was paying $1/gal. He said if you don't have a V8 SUV over there you're a loser.

Be curious to see refining capacities vs consumption

Global oil refinery capacity by country 2020 | Statista

 

[DancingOutlaw]

My guess would be SA refines enough gas to fuel their own population and not much more. Maybe they export a little to neighboring countries but the money is in shipping the oil to be refined somewhere else. Cheap gas is one of many tools they use to placate the populace.

 

[hog88]

And much lower in other major oil producing nations but for some strange reason the US seems to be the only one impacted by “fluctuations in the market” and not our own government policies

SA subsidizes gas for it's residents with royalties paid by the oil companies.

 

[McDad]

Do they refine in house?

I don't know. When I was reading internet articles while in the gas price thread, I came across information which said Saudi sends oil to the US for refining. But I don't know the grade of the oil or how much relative to their production. I would assume they refine in house.

 

[hog88]

I don't know. When I was reading internet articles while in the gas price thread, I came across information which said Saudi sends oil to the US for refining. But I don't know the grade of the oil or how much relative to their production. I would assume they refine in house.

Yes, SA has their own refining capability.

Saudi Arabia: Saudi Aramco refining capacity by facility 2017 | Statista

 

[McDad]

Yes, SA has their own refining capability.

Saudi Arabia: Saudi Aramco refining capacity by facility 2017 | Statista

You think Amazon would ship me some Saudi gasoline at Saudi prices?

 

[landscapingvol]

SA subsidizes gas for it's residents with royalties paid by the oil companies.

Venezuela, Nigeria, Russia, UAE, etc. all have significantly cheaper gas prices. It isn’t just Saudi Arabia. We seem to be the outlier for a major oil producing nation

 

[hog88]

Venezuela, Nigeria, Russia, UAE, etc. all have significantly cheaper gas prices. It isn’t just Saudi Arabia. We seem to be the outlier for a major oil producing nation

I think they all subsidize gasoline to their residents. I also don't think they tax gas at the pump.

 

[Orangeburst]

You think Amazon would ship me some Saudi gasoline at Saudi prices?

We could start a co-op or collective
Buy and sell locally a be oil tycoons

 

[landscapingvol]

I think they all subsidize gasoline to their residents. I also don't think they tax gas at the pump.

I highly doubt they subsidize it to the tune of 2-3 US dollars per gallon and the federal gas tax is only about .50 cents.

 

[Orangeburst]

I think they all subsidize gasoline to their residents. I also don't think they tax gas at the pump.

They offered Tiger a billion for the LIV Tour
They drive around in their Lambos and Ferraris

The equality folks here heads would explode

 

[hog88]

I highly doubt they subsidize it to the tune of 2-3 US dollars per gallon and the federal gas tax is only about .50 cents.

Then throw in .25 to .50 state tax on that gallon plus they do spend a bunch on subsidies. SA subsidies was about 30 billion in 2019.


Reforming global fossil fuel subsidies: How the United States can restart international cooperation

 

[McDad]

We could start a co-op or collective
Buy and sell locally a be oil tycoons

I've always wanted my business card to say "tycoon".

 

[landscapingvol]

Then throw in .25 to .50 state tax on that gallon plus they do spend a bunch on subsidies. SA subsidies was about 30 billion in 2019.


Reforming global fossil fuel subsidies: How the United States can restart international cooperation

I am not talking about SA. I am talking about the numerous other major oil producing nations

 

[Orangeburst]

I've always my business card to say "tycoon".

check this out
Surely that can’t be Zuckers

15 Stunning Business Cards Of Famous Personalities

 

[hog88]

I am not talking about SA. I am talking about the numerous other major oil producing nations

They're all in that link.

 

[Orangeburst]

Chuck Jones card
Cool

 

[SpaceCoastVol]

check this out
Surely that can’t be Zuckers

15 Stunning Business Cards Of Famous Personalities

stunning? LOL

 

[DancingOutlaw]

Venezuela, Nigeria, Russia, UAE, etc. all have significantly cheaper gas prices. It isn’t just Saudi Arabia. We seem to be the outlier for a major oil producing nation

Do you notice a theme amongst those countries? Maybe a single person or small group in power that needs to throw something at the hordes to keep them in check and keep their wealth intact? I'm fine with being an outlier.

 

[Godfatha]

Chuck Jones card
Cool

View attachment 462531

Apparently the author of the article thinks that Roadrunner is a duck.

 

[McDad]

check this out
Surely that can’t be Zuckers

15 Stunning Business Cards Of Famous Personalities

Maybe mine should say, "Im tycoon, b****!