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Gas Prices Jump Nearly 25 Cents In Last 2 Weeks

Your data and your links are out of date. The route has been altered and the Governor of Nebraska has endorsed the pipeline.:cool:

I know. I was just pointing out the flaws in the initial design which had it going right over some of the most vulnerable sections of the aquifer. That was a bad design.

It was stupid to risk billions in agriculture for a pipeline that will materially change no prices.
 
Yeah I don't care about BP. Whole different ballgame when one gives those Rights to China. Iran put themselves into the position they are in. So I wont worry about which part of the Ruling Elite there was doing whatever.

Yeah I am sure the costs wouldn't be favoring companies for the structures.

Depends. Refineries favor no one these days. Furthermore, Chinese firms pumping in the US are still subject to US laws. I really don't care who does it as long as they do it within the legal framework. And besides, China owns large equity shares in the public oil firms anyways so in a sense they are doing what you don't like.

Also with this last round of sanctions on Iran.....I really don't know where else they can go with more on them.

Sanctions like this take time. Apparently inflation is through the roof in Iran and basic necessities for the people are getting hard to come by. Also their currency is in the toilet. The problem with sanctions is that they always hurt the people and generally not those in charge.

That said, the alternative is an Iranian Occupation that would make Iraq look cute. At least Iraq was mostly desert with a reasonably small population and a large area under relatively friendly control. Iran is mountainous, much larger population and can actually defend itself and we have no Kurdistan there. The cost alone of mounting an Iranian Adventure will collapse the American economy.
 
The problem with Venezuela, if you ever been there, isn't Caesar Chavez, "Yankee" capitalists, or socialism, it's the Venezuelan people...............They're idiots....................

Golly, gee whiz, Bonzai, that is painting with a broad brush.
 
I know. I was just pointing out the flaws in the initial design which had it going right over some of the most vulnerable sections of the aquifer. That was a bad design.

It was stupid to risk billions in agriculture for a pipeline that will materially change no prices.

Right. And now?:roll:
 
NEW YORK, Feb 10 (Reuters) - The average price in the United States for a gallon of regular gasoline rose nearly 25 cents in the past two weeks, up steadily since December as refineries passed along their costs, a widely followed survey released on Sunday showed.

r-GAS-PRICES-large570.jpg


* U.S. retail gasoline averages $3.5918/gallon

* Rise comes in response to increases from wholesalers

* Brent crude oil hit nine-month high last week

Gasoline prices averaged $3.5918 per gallon on Feb. 8, up 24.75 cents from Jan. 25, said Trilby Lundberg, editor of the Lundberg Survey.
"The amount of change is very big," Lundberg said.

The retail price of regular gasoline in the United States has risen for seven weeks straight, Lundberg said.
"Now that the wholesale price hikes have accelerated, the need for retailers to raise prices on the street is becoming acute," Lundberg said.

Brent's premium to U.S. oil futures has increased on expectations that Midwest crude stockpiles will remain elevated as constraints on the Seaway pipeline continue to limit shippers' ability to send crude to the U.S. Gulf Coast.....snip~

Gas Prices Jump Nearly 25 Cents In Last 2 Weeks

7 weeks Gas has gone up and now the bad news it will go up more as retailers will have to adjust their price. Obama's 2nd term is just not starting out good. Remember how he was running around with his victory lap. Plus now he just came back from his 2nd vacation in 7 weeks. People are getting back less money. Prices are going up on everything, and he wants to raise the minimum wage.

Course Brent already knows Obama will keep the Midwest stockpiles Right where they are at. 4.10 out in California. Although I have had people telling me Hawaii is paying even more.

Those god damned socialist, marxzist, communist, fascist, liberal hippies are responsible. Not free enterprise.
 
I will ask everybody onthis thread.

Is the US system for pricing gasoline better, possible price jumps, or is the Mexican system better where the price goes up a certain amount every 15 days but never goes down? For referance the price of a liter of gasoline goes up $.09 centavos every 15 days. $.09 centavos is $.007 cents US.

Which system would you prefer?
 
"World Oil Demand Growth: World crude oil and liquid fuels consumption grew to the highest level ever in 2012, with an estimated 89.2 million barrels per day (bpd) consumed in total.[2] The Energy Information Administration (EIA) projects that total world oil consumption will grow by 1.05 million bpd during 2013 and 1.4 million bpd in 2014 with countries outside the Organization for Economic Cooperation and Development (OECD) comprising most of the growth in consumption.[3] The largest increases in oil consumption will be non-OECD Asian countries, which are using increasing amounts of oil to pursue rapid economic growth. By comparison, U.S. liquid fuels consumption has declined since 2010.

China, in particular, has a large role in the increased global demand for oil. China likely consumed nearly half of the global 2 million barrel per day increase in world oil consumption since 2010.[4] According to the Energy Information Administration, China increased its petroleum consumption by almost 500,000 barrels per day in 2011, and preliminary estimates are that China added another 420,000 barrels to its daily consumption in 2012. China is the second-largest consumer of oil behind the United States and as of 2009, China became the second-largest net importer of oil. In 2011, Chinese crude oil imports were 5.52 million bpd[5]—up 8.2 percent from 2010 levels.

If world demand for oil rises faster than oil companies can produce the crude, oil prices will go up, which is what is occurring now."

Institute for Energy Research | Why Are Gas Prices So High?
 
Why Are Gas Prices So Bizarrely High Right Now?

No, cash-strapped motorist, it's not just you. Gas really is weirdly expensive right now. Despite the fact that we're in February, when the price at the pump is traditionally low, gasoline has marched up to past the $3.80-a-gallon mark on average nationwide, and is close to $4.00 on the west coast. AAA tells the Washington Post 'that this "is the most expensive we've seen gasoline in the dead of winter."

Gas_Prics_Feb_Fixed.PNG


So what gives? Nobody's really sure, but it probably comes down to: China's looking good, the Middle East is looking bad, and too many U.S. refineries have shut down for the season.

Looking back on crude prices this time over the past several years, as well as futures contracts pre-February, I couldn't find much of a change that would explain the 20 cent price bump we're now looking at. Crude was actually trading a few dollars higher around this time in 2012. So I might wager on an explanation that the Post tags at the bottom of its piece. Enough refineries have shut down as of late that the remaining operations can jack up prices:

But some analysts also pointed to refinery issues. Several refineries have been shut down for routine maintenance, and in the eastern United States, several refineries simply went out of business in the past year.
It estimated that nearly 1 million barrels a day of refinery capacity has been closed on the East Coast or in the U.S. Virgin Islands in the past two years, which Valero said allowed it to increase profit margins.

So blame Valero, but also straightforward market competition.

None of this makes spending almost $3,000 a year on gas any more pleasant. But hey, it's nice to at least have a sense of why your budget is getting eaten by gas.....snip~

Why Are Gas Prices So Bizarrely High Right Now? - Jordan Weissmann - The Atlantic

:roll:
 
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