Ha... when I saw this thread, I assumed we were going to talk about West Texas Intermediate.
It was $120 a barrel a few weeks ago and now it is $85 a barrel.
As for motor oil on the shelves, its price will fluctuate about 3 months behind the WTI Futures, 'cause that is where the blenders are paying the 'real' price.
Yes, the components of oil are rising, but so are the costs of packaging, shipping and the hourly wages of employees.
It's called inflation and so far this year, it is rising 8% year over year.
............
Ha!
At soon to be age 57, I might be going back to work for an oil company doing business on the North Slope of Alaska once again. They need someone with experience managing the telecommunications needs for certain exploration units (which I won't name). I NEED the pay raise after our marked inflation these past two years! Flying to the Kuparuk Field or Deadhorse, AK airports and working there would be part of the game, even in the dead of winter. Thankfully, that would only be once in awhile. It is what it is...
I've worked up there in years gone by. Anyone know how much crude, refined oil, gas, diesel, grease, differential, or tranny fluid I've seen dripped or spilled onto the snow, gravel pads, or roads up there?
.
.
.
Nary a drop.
Every vehicle has a "duck pond" placed underneath the engine compartment -- as soon as each vehicle is parked! Caught three times without one under your truck or its refueling, and you're blacklisted (hearsay!). Combined, all Alaska oil pads, access roads, and parking lots (driven surfaces) have had less oil and grease drip onto them than your typical Lower-48 Wal-mart parking lot. Despite the Exxon Valdez mistake, and only a few minor pipeline leaks or spills over the years, if anyone thinks other states or countries do it better than Alaska, I'd say you're WRONG!
Alyeska Pipeline Service Company is another world-class act. I have two years under my belt working at their Trans-Alaska Pipeline System (TAPS) pump stations and remote gate valves -- wonderful org and people. Alyeska Pipeline Service Company is one of the most heavily regulated orgs in the world -- co-managed by the federal and State of Alaska governments, to include the local and tribal governments it passes through. It's amazing they get anything done whatsoever!
Alaska's pristine. We're keeping it that way.