Not totally sure. I'm trying to follow the incoming data points with this one as it is so critical to the world's economy. Im not inclined to think it is propaganda. When adding this to the cost of fertilizer, if neither improves in availability and cost, we are looking at supply side inflation that filters down to the food supply in a myriad of ways.
Price Check in the Gas and Diesel Aisle...
- Thread starter BullGear
- Start date
They'll make a bunch of noise like Drill Baby Drill but won't fix the refinery crunch.
Your statement caused me to pause and refresh my memory:
And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and see a black horse; and he that sat on him had a pair of balances in his hand. [6] And I heard a voice in the middle of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see you hurt not the oil and the wine.
This is what I am seeing as well. If all refined petroleum products run into a shortage at the same time we could see a serious congestion at the refineries. In 2020 there were tankers full of oil cruising around in the ocean with nowhere to go, now here we are.
Blast from the past:
Today's refinery issue (high level):
American oil refineries shutter amid Biden's hostile fossil fuel policies, adding to pain at the pump: expert
LyondellBasell, the owner of one of the oldest refineries in Houston, became just the latest refinery to close amid rising gas prices.
www.foxbusiness.com
Lack of Growth in Petroleum Refinery Development Contributes to High Fuel Prices
The bottleneck in America’s refineries is among the foremost causes of high fuel prices, a phenomenon spurred in large part by federal policy.
The last new major petroleum refinery in the U.S. was constructed in 1976 in Garyville, Louisiana. Since then, additions have been made to numerous refineries, but each is a modest jump in the nation’s total refining capacity."
Long ago the refinery had an in house team that planned and executed a turn around (shut down).
Today there has to be "Conferences" before the turn around.
Those speakers at the conferences never burned a welding rod or made up a flange..... Unfortunate for "We the People".
One such example:
www.marcusevans.com
Today there has to be "Conferences" before the turn around.
Those speakers at the conferences never burned a welding rod or made up a flange..... Unfortunate for "We the People".
One such example:
Chem / Petrochem and Refinery Shutdowns and Turnarounds Conference - marcus evans Conferences
Chem / Petrochem and Refinery Shutdowns and Turnarounds Conference | 02 August-04 August 2022 | Embassy Suites by Hilton San Antonio Brooks | San Antonio | TX
www.marcusevans.com
Business won't build another refinery in the US without some sort of Federal subsidy or contract from the FED. Businesses are afraid of investing that much $$ just to get screwed.This is what I am seeing as well. If all refined petroleum products run into a shortage at the same time we could see a serious congestion at the refineries. In 2020 there were tankers full of oil cruising around in the ocean with nowhere to go, now here we are.
Blast from the past:
Today's refinery issue (high level):
American oil refineries shutter amid Biden's hostile fossil fuel policies, adding to pain at the pump: expert
LyondellBasell, the owner of one of the oldest refineries in Houston, became just the latest refinery to close amid rising gas prices.
“My personal view is there will never be another refinery built in the U.S.,” Chevron CEO Mike Wirth said in June as gas prices jumped.Lack of Growth in Petroleum Refinery Development Contributes to High Fuel Prices
The bottleneck in America’s refineries is among the foremost causes of high fuel prices, a phenomenon spurred in large part by federal policy.thetexan.news
The last new major petroleum refinery in the U.S. was constructed in 1976 in Garyville, Louisiana. Since then, additions have been made to numerous refineries, but each is a modest jump in the nation’s total refining capacity."
edit - especially when the man speaks
My personal view is there will never be another refinery built in the U.S.,” Chevron CEO Mike Wirth said in June as gas prices jumped.
Seems no one can define where "oil" is heading.
oilprice.com
Oil Shortage Forecasts Clash With Grim Economic Projections | OilPrice.com
Oil markets are being pulled in all directions as fears of a global economic slowdown clash with the potential of a massive supply shortage
oilprice.com
There's so much disinformation out there. It would seem that each will report whatever best suits them at the moment. That's why things are so screwed up. There's really no real information out there.
That is why I rely so much on Mother Nature and "The Law's of Nature".... Unfortunate I have to look at the outside world as a "jungle" but that is where society is evolving to.
Herd mentality, the Lone Wolf, thin ice, howling wind, dog growling, leaves dry as corn flakes...
Our young people are so distanced from nature they can't identify harmful people, harmful animals or harmful situations.
Always have enough fuel in the tank to get yourself home.
I'm waiting to see if BFC's predictions some true next month about the price of oil. 70's
If he's close, he's gong to become my new unofficial series 7 guy.
I think the oil analyst on the web screaming 120's was just trying to dump his contracts.
If he's close, he's gong to become my new unofficial series 7 guy.
BigFatCock said on page 15,
I’m looking for $75 by December to close everything out again.
World wide demand destruction due to EV’s and people being broke AF.
I'm still wondering if it'll creep along 85 - 90 with winter coming in and the war still lingering in Ukraine.I think the oil analyst on the web screaming 120's was just trying to dump his contracts.
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It will depend on who controls the House and Senate. If the Demwits keep them, crude oil will be closer to $100/barrel. But I do see it getting very close to $75 regardless of who's in control.
There are Billions of $$$ at work (Private and Government) to "stave off" the inevitable recession. Thousands of programs need to be de-funded and allowed to fall flat on their face. Our country has turned into a Metaverse.... Americans are enthralled with an IPhone and make believe worlds.
We will witness a "Wake Up Call" on steroids when the House of Cards collapses.
Metaverse - Wikipedia
| WTI Crude • | 91.13 | +2.96 | +3.36% |
| Brent Crude • | 97.44 | +2.77 | +2.93% |
US Residential Heating Oil Price
In depth view into US Residential Heating Oil Price including historical data from 1990, charts and stats.
ycharts.com
Oil Prices Climb Despite Growing Recession Concerns | OilPrice.com
The Federal Reserve's increasingly hawkish stance failed to hold oil prices back as fresh rumors circulated that China was easing its Covid restrictions
oilprice.com
The oil companies will simply "sustain" their positions without risking anything due to politics.
oilprice.com
U.S. Rig Count Still 305 Below Pre-Pandemic Levels | OilPrice.com
The U.S. oil rig count gained 3 rigs this week while the gas rig count fell slightly, but the total number of rigs continues to trail pre-pandemic levels
oilprice.com
$6.49 a Gallon in People's Republic of Pennsylvania today.
But there is no inflation...
Sirhr
But there is no inflation...
Sirhr
you guys need to close down all your coal industry, then the price will go down... Joe told me so, he met the dude who invented insulin and the guy who invented the internet.
| WTI Crude • | 92.02 | +0.23 | +0.25% |
| Brent Crude • | 97.92 | -0.65 | -0.66% |
| WTI Crude • | 87.51 | -1.40 | -1.57% |
| Brent Crude • | 93.85 | -1.51 | -1.58% |
North America’s Largest Refinery Restarts Units After Overhaul | OilPrice.com
The Port Arthur refinery is set to see fuel production climb as its owner restarts units after an overhaul that lasted more than a month
oilprice.com
My guess on Kerosene, it stores longer than Diesel. You have a Genset, you buy a big barrel of Kerosene. You can use it in your lamps or Genset, Truck if times are hard due to cost.View attachment 7995107
WTI Crude • 87.51 -1.40 -1.57% Brent Crude • 93.85 -1.51 -1.58%
North America’s Largest Refinery Restarts Units After Overhaul | OilPrice.com
The Port Arthur refinery is set to see fuel production climb as its owner restarts units after an overhaul that lasted more than a month
| WTI Crude • | 89.64 | +0.68 | +0.76% |
| Brent Crude • | 96.73 | +0.74 | +0.77% |
| Heating Oil ($/gallon) | NY Harbor | 4.35 | -2.7 |
| Gulf Coast | 3.29 | -3.8 |
The Growing Anti-OPEC Movement Is Disasterous For Oil Markets | OilPrice.com
The idea of an oil buyers club to counter the influence of OPEC has been floated several times, but the consequences of forming such a club would be significant
oilprice.com
Americans To See Highest Thanksgiving Gasoline Prices Ever | OilPrice.com
This year’s average U.S. gasoline prices on Thanksgiving are expected to be at their highest level ever for the holiday and beat the previous record from Thanksgiving of 2012
oilprice.com
| WTI Crude • | 86.79 | +0.92 | +1.07% |
| Brent Crude • | 93.70 | +0.56 | +0.60% |
| WTI Crude • | 84.09 | -1.50 | -1.75% |
| Brent Crude • | 91.81 | -1.05 | -1.13% |
Another bench mark has been reached:
World Oil Demand Topped Pre-Covid Levels In September | OilPrice.com
According to new data from the Joint Organizations Data Initiative, global oil demand exceeded pre-Covid levels in September
oilprice.com
interesting, haven't seen diesel at any costco's around here (NOVA).
lately diesel is a solid two friggin bucks above 87 gas, so in the $5.80 range.
I live on the northwest edge of the Permian Basin, the largest oil producing area in the US, and they are drilling like crazy and selling ever drop they can produce while my state and the feds continue to make things more difficult. 87 octane gas is $3.59 as of last Saturday.
One of these days the existing permits will be drilled up and with our current Washington occupiers things are going to really get tough.As to refineries, what company would commit to building one or making large improvements when they will only be tied up in litigation for 20 to 30 years by environmental groups.
Down... Perhaps the recession is getting some traction.
| WTI Crude • | 78.70 | -2.94 | -3.60% |
| Brent Crude • | 86.83 | -2.95 | -3.29% |
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Today’s Energy Crisis Is Unlike Anything We’ve Ever Seen Before | OilPrice.com
Today’s energy crisis is unlike anything the world has ever experienced, and finding a solution will prove to be difficult
oilprice.com
This seems......odd ?
oilprice.com
European Refiners Now Have Too Much Oil | OilPrice.com
European refiners now seem to have more crude oil than they need, and the extra supply is now starting to weigh on crude prices
oilprice.com
Still short, and price target is still $75 per barrel before Christmas.
Besides, joe Brandon needs the political win of buying oil for the SPR at $72 per barrel.
Besides, joe Brandon needs the political win of buying oil for the SPR at $72 per barrel.
This seems......odd ?
European Refiners Now Have Too Much Oil | OilPrice.com
European refiners now seem to have more crude oil than they need, and the extra supply is now starting to weigh on crude prices
Not odd at all. Their constraint is similar to ours not enough refining capacity. Fix that, and then you have the problem of too much gasoline because refining doesn't yield sufficient amounts of diesel.
As of November 21, the average retail diesel price in the United States was $5.233 per gallon, or $1.509/gal higher than at this time last year. To compare, the average gasoline price in the U.S. on the same day was $0.253 per gallon higher than a year ago, EIA data showed.
oilprice.com
The Diesel Crunch Is Finally Causing Demand Destruction | OilPrice.com
Diesel inventories have been at multi-decade lows in the last couple of weeks, but now there are signs that demand destruction is leading to growing inventories
oilprice.com
So, I drove through KS and Missouri the other day... I noticed a few farms had unharvested cotton fields.
I'm not completely familiar with the crops harvest period in those states
my question is - When is Cotton in these states normally harvested? I'm wondering if they took a crop insurance loss; since it might have been cheaper to write off the loss, then spend the money to harvest (fuel costs, equipment costs, etc.).
I'm not completely familiar with the crops harvest period in those states
my question is - When is Cotton in these states normally harvested? I'm wondering if they took a crop insurance loss; since it might have been cheaper to write off the loss, then spend the money to harvest (fuel costs, equipment costs, etc.).
You heard it here first from BFC ^
Price for a barrel of oil
77.24
USD0.00 (0.00%) today
November 27, 7:00 PM EST
| WTI Crude • | 80.61 | +2.41 | +3.08% |
| Brent Crude • | 85.25 | +2.22 | +2.67% |
https://oilprice.com/Energy/Crude-Oil/Escalating-Protests-In-China-Add-To-Oil-Market-Volatility.html
All of my oil shorts are closed. Will start scaling into long positions, and scaling into shorts on DRIP and SCO. I see oil going higher after Christmas. Should remain low through Christmas to keep the natives from getting restless. Very cautious here though.
Saw something today that I haven't seen in over a year.............Diesel for $3.99.
Shell truck stop I-35 and US 36 in Cameron Mo., I filled up..........got into N. KC, and saw a Quick Trip with $3.99 Diesel as well.........
Shell truck stop I-35 and US 36 in Cameron Mo., I filled up..........got into N. KC, and saw a Quick Trip with $3.99 Diesel as well.........
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