Oil/Gas prices gonna go up?

[Mad_Hatter]

Overnight 👇...Let's discuss...

 

[4WD]

Huge problem when you consider who is likely behind things like this

Our gasoline is cheap today ... we'll see

 

[bullwinkle]

I'd love to know why all the threads on this keep disappearing...

 

[ARCOgraphite]

Since USA are "almost" energy independent why should our prices be based on a global commodity model?

Just for profit ?

 

[Mad_Hatter]

Originally Posted by bullwinkle
I'd love to know why all the threads on this keep disappearing...

Has there been other threads? I hadn't looked...I don't see why this should be deleted, it's kinda big deal. "Only" 5% of the WORLD'S oil production just got turned off!!!

 

[Mad_Hatter]

Originally Posted by ARCOgraphite
Since USA are "almost" energy independent why should our prices be based on a global commodity model?

Just for profit ?

Because crude oil is used for more than just gas and oil. Lower output by the Saudi's is going to put upward pressure on global prices.

 

[eljefino]

Originally Posted by ARCOgraphite
Since USA are "almost" energy independent why should our prices be based on a global commodity model?

Just for profit ?


Our money isn't independent. There are LOTS of dollars overseas (and we like it like this) and for them to remain strong "they" have to be able to spend that money on "our" stuff. If our oil is 1% cheaper they'll buy it until it reaches parity with world commodity prices.

 

[Snagglefoot]

Originally Posted by Mad_Hatter
Originally Posted by bullwinkle
I'd love to know why all the threads on this keep disappearing...

Has there been other threads? I hadn't looked...I don't see why this should be deleted, it's kinda big deal. "Only" 5% of the WORLD'S oil production just got turned off!!!

Yep. One got toasted yesterday. Politics.

 

[LoneRanger]

IBTL

I only typed that because to properly address the oil field attacks, economics being tied to a prevailing political situation in the involved region would be part of the necessary analysis.

 

[demarpaint]

Originally Posted by LoneRanger
IBTL


+1 I think there'll be a spike in gas prices.

 

[LotI]

I hope oil goes up because I'm sick of dodging bigger and bigger trucks every day.

I hope oil stays the same because I have a big truck which gulps 11.5g/100 miles.

There were at least 2 threads about this yesterday that are gone, must have turned political.

 

[53' Stude]

Originally Posted by 4WD
Huge problem when you consider who is likely behind things like this

Our gasoline is cheap today ... we'll see


Well, gas in my area has been $2.35-$2.49 and coming home last night it was $2.40 at a KWIK Fill thats within walking distance to me.

 

[Snagglefoot]

Keep in mind the world price of oil is established by WTI ( West Texas Intermediate) and Brent ( North Sea). Oil is an incredibly easy commodity to move around. Once it's loaded on a super tanker it can be moved anywhere. So yes, you can expect a bump in oil prices on Monday. The US exported 3 million bbls/day of crude oil last month. Coincidently, that's equal to the amount of crude oil the US imported from Canada.

 

[Linctex]

Originally Posted by ARCOgraphite
Since USA are "almost" energy independent why should our prices be based on a global commodity model?

Just for profit ?


We export a lot of light, sweet crude.

Ironically....... many of the refineries in the USA are NOT set up to refine "light, sweet".

So, we export our golden honey overseas and import the black sticky goop from Saudi instead.

 

[Linctex]

Originally Posted by 53' Stude
Originally Posted by 4WD
Our gasoline is cheap today ... we'll see


Well, gas in my area has been $2.35-$2.49 and coming home last night it was $2.40 at a KWIK Fill thats within walking distance to me.


I wouldn't be surprised one bit to see it go up 40 cents to 50 cents higher in just a few days,

 

[Snagglefoot]

Originally Posted by Linctex
Originally Posted by ARCOgraphite
Since USA are "almost" energy independent why should our prices be based on a global commodity model?

Just for profit ?


We export a lot of light, sweet crude.

Ironically....... many of the refineries in the USA are NOT set up to refine "light, sweet".

So, we export our golden honey overseas and import the black sticky goop from Saudi instead.


Sort of correct but the US only imports 600,000 bbls per day from Saudi. It imports 3 million bbls per day from Canada. The times they are a changin'.

 

[NO2]

It's a temporary disruption. I'd only expect to see prices rise if Aramco can't get the plants on line within a week or two.

 

[Snagglefoot]

Originally Posted by NO2
It's a temporary disruption. I'd only expect to see prices rise if Aramco can't get the plants on line within a week or two.


And you only need another 10 drones to take it down again.

 

[eljefino]

Originally Posted by Linctex
Originally Posted by ARCOgraphite
Since USA are "almost" energy independent why should our prices be based on a global commodity model?

Just for profit ?


We export a lot of light, sweet crude.

Ironically....... many of the refineries in the USA are NOT set up to refine "light, sweet".

So, we export our golden honey overseas and import the black sticky goop from Saudi instead.


We add value. We're lucky they don't refine it to finished product and charge us for the courtesy.

 

[Warstud]

I heard this last night before I went shopping and while I was out I noticed it dropped to $2.35 it hasn't been this cheap in a long time.