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(Alaska Dispatch News)   Now that the US has once again become a major player in the world oil market, we'll see gas prices coming down, right?   ( adn.com) divider line
    More: Interesting, world oil market, oil boom, gas prices, United States, oil producers, U.S. Energy Department, U.S. Energy Information Administration, Valero Energy  
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1145 clicks; posted to Business » on 13 Jan 2014 at 9:01 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



37 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2014-01-13 08:37:51 AM  
No:

Fungible

Natural Gas
 
2014-01-13 09:05:07 AM  
"Speculation" will ensure that will never happen.
 
2014-01-13 09:08:21 AM  
THANKS OILBAMA
 
2014-01-13 09:10:36 AM  
The lower gas prices will surely trickle down!
 
2014-01-13 09:14:52 AM  
fubegra.net
 
2014-01-13 09:15:37 AM  
Not in PA where they just ass-raped us with new taxes.

Thanks for that.

Gas is a good .40 cheaper in NJ now.
 
2014-01-13 09:30:21 AM  
They HAVE flattened out. Which speaks enough considering that the population and energy demand is still growing and there is still (albeit small) levels of inflation.

http://www.gasbuddy.com/gb_retail_price_chart.aspx
 
2014-01-13 09:54:02 AM  
How about this:

1) You, personally, have no control over the price of gasoline.
2) The people who do, don't give a shiat about you.
3) So instead of driving a goddamn 1972 Canyonero because it makes you feel good about your tiny penis, change your own goddamn spending habits expecting gas prices won't go down.*
4) SHUT THE FARK UP ABOUT THE GODDAMN PRICE OF GAS

*Not to mention, if everybody does this, gas prices will go down because of deflationary pressure.  Gas prices won't go down because that's what you're willing to pay.
 
2014-01-13 09:57:14 AM  
The oil speculators that control the global market will make sure that prices stay high indefinitely -- which is exactly why oil should no longer be a publicly tradeable commodity
 
2014-01-13 09:57:31 AM  
Petroleum is a global commodity, the price is set by international markets, just because we're producing more here doesn't mean that the prices at the pump will be lower.  The real upside is that producing more petroleum at home is favorable for America's trade balance.
 
2014-01-13 10:00:22 AM  
How about the fact that the oil we are extracting costs about $70/bbl to get out of the ground.  Not profitable to turn around and only sell it for $10/bbl.  Maintaining a strategic reserve while draining the third world of their resources is our best bet for now.
 
2014-01-13 10:19:10 AM  
Gasoline prices are about the same as they where in 1968, when I started driving, based on inflation (a factor of ten). Compare this to a nickel candy bar that has increased by 2000%.
 
2014-01-13 10:27:58 AM  
There are 1.4 Billion Chinese, 1.2 Billion Indians and at least another billion or so people in other rapidly developing countries who are working hard to improve their standards of living and using their new found wealth to buy products and services that require petrochemicals.

Demand for Oil is somewhat higher than it was 20 years ago when the energy market was mostly made up of a few hundred million Americans and Europeans, and isn't going down any time soon.
 
2014-01-13 10:56:33 AM  
So drive less.
 
2014-01-13 11:15:50 AM  

plcow: They HAVE flattened out. Which speaks enough considering that the population and energy demand is still growing and there is still (albeit small) levels of inflation.

http://www.gasbuddy.com/gb_retail_price_chart.aspx


Here's a better chart from that same source:
http://www.gasbuddy.com/gb_retail_price_chart.aspx?city1=USA%20Avera ge &city2=&city3=&crude=n&tme=36&units=us
 
2014-01-13 11:20:32 AM  

Grand_Moff_Joseph: The oil speculators that control the global market will make sure that prices stay high indefinitely -- which is exactly why oil should no longer be a publicly tradeable commodity


I don't understand oil speculation, so I will just assume it's bad.
 
2014-01-13 11:53:04 AM  
Unlikely tag must've been off filling up its H3 somewhere.
 
2014-01-13 01:02:13 PM  
When oil refineries used to have surpluses of gasoline, they would drop the price to encourage domestic consumption

Now when oil refineries have surpluses of gasoline, they export it

They won't let US prices drop significantly anymore.
 
2014-01-13 01:08:03 PM  

poughdrew: So drive less.


And decrease demand, thus raising prices?  When supply is low, then drive less.  Your car (or my Canyonero) will have a huge impact on the gas prices.
 
2014-01-13 01:14:45 PM  

dragonchild: How about this:

1) You, personally, have no control over the price of gasoline.
2) The people who do, don't give a shiat about you.
3) So instead of driving a goddamn 1972 Canyonero because it makes you feel good about your tiny penis, change your own goddamn spending habits expecting gas prices won't go down.*
4) SHUT THE FARK UP ABOUT THE GODDAMN PRICE OF GAS

*Not to mention, if everybody does this, gas prices will go down because of deflationary pressure.  Gas prices won't go down because that's what you're willing to pay.


But... then how owuld I feel good about my tiny penis?

/ really?  "we cant do anything about the price of gas so why bother"?  you work for the oil companies?
 
2014-01-13 01:17:43 PM  

weiserfireman: When oil refineries used to have surpluses of gasoline, they would drop the price to encourage domestic consumption

Now when oil refineries have surpluses of gasoline, they export it

They won't let US prices drop significantly anymore.


US (or anywhere for that matter) prices can't drop significantly anyway without causing supply to dry up very quickly. It costs around $70 to produce a barrel of oil from Oil Sands or Fracking. Any drop in demand that would put oil below ~$80 would cause a lot of fracking/oil sands operations to slow or stop until supply dropped enough that prices rose again.
 
2014-01-13 01:19:20 PM  
Holy smokes!  You mean that all the Republicans who said "drill baby drill" were lying or absolutely stupid when they connected domestic drilling to lower gas prices?  You mean that Republicans know absolutely nothing about economics?

I'm shocked.
 
2014-01-13 01:33:48 PM  
*SIGH*

It's a global market. Our oil is sold on that market. So the simpletons who farking cried for years about drill baby drill were missing the big picture, and it was designed that way by people who are way smarter and richer than they are.
 
2014-01-13 01:43:24 PM  

I sound fat: "we cant do anything about the price of gas so why bother"? you work for the oil companies?


Are you kidding?  I was recruited by them and turned them down.  I'd already put in my "zero life" workweeks.

Realistically, what can any of us do about the price of gas?  The only thing we control is our consumption habits.  Maybe not as much as we'd like, but I don't recall any personal decision I've ever made that resulted in a change at the price of the pump except as part of the Commons.
 
2014-01-13 02:32:48 PM  
I'mmmm dreaming of a 1.99 9/10 per gallon un-leeeeaded


Actually oil is going down...gas prices are not.

Refineries???  That seems to be the latest excuse.   Maintenance, upgrades, not enough, regulations...
All you wanted to know about refineries but were afraid to ask.
 
2014-01-13 03:55:37 PM  

EbolaNYC: *SIGH*

It's a global market. Our oil is sold on that market. So the simpletons who farking cried for years about drill baby drill were missing the big picture, and it was designed that way by people who are way smarter and richer than they are.


Drill baby drill still created, and is creating thousands of well-paying jobs. Heaven forbid we actually export something from this country.
 
2014-01-13 04:15:22 PM  

plcow: EbolaNYC: *SIGH*

It's a global market. Our oil is sold on that market. So the simpletons who farking cried for years about drill baby drill were missing the big picture, and it was designed that way by people who are way smarter and richer than they are.

Drill baby drill still created, and is creating thousands of well-paying jobs. Heaven forbid we actually export something from this country.


How about we export something we make here, not some crap we pay people to dig up out of the farking ground? Sorry but there's something to be said for actually making something but hey, let's just ship those all over seas and give companies that do it a tax break in the process.

Speaking as someone who is changing careers because of that kind of shiat, I'm getting a kick out of this reply.
 
2014-01-13 04:19:40 PM  
It turns out people in many parts of the world will pay more for gas than Americans will and, shockingly, transnational oil companies don't give a fark about Americans when they can make more money selling oil elsewhere.
 
2014-01-13 04:20:28 PM  

Havokmon: poughdrew: So drive less.

And decrease demand, thus raising prices?


i.imgur.com
 
2014-01-13 04:37:32 PM  

EbolaNYC: plcow: EbolaNYC: *SIGH*

It's a global market. Our oil is sold on that market. So the simpletons who farking cried for years about drill baby drill were missing the big picture, and it was designed that way by people who are way smarter and richer than they are.

Drill baby drill still created, and is creating thousands of well-paying jobs. Heaven forbid we actually export something from this country.

How about we export something we make here, not some crap we pay people to dig up out of the farking ground? Sorry but there's something to be said for actually making something but hey, let's just ship those all over seas and give companies that do it a tax break in the process.

Speaking as someone who is changing careers because of that kind of shiat, I'm getting a kick out of this reply.


1) Pay not just people, but Americans, do dig "crap" out of the ground (Americans profit, espcially lease owners, surface owners, and uneducated workers)
2) Use one portion of said  "crap" to burn in power plants to provide cheap electricity to residential, commercial and industry (power companies profit)
3) Use a second portion of said "crap" as feedstock in the petrochemical industry to create polymers (Americans profit)
4) Use the petrochemical output as a feedstock for textiles, plastics, etc (Americans profit) <- this by the way is coming BACK to American FROM overseas because of fracking.
5) Use the third portion to burn in vehicles (Americans should be using fuel for quality of life and... you guessed it, productivity and profit)
6) Use the fourth portion as a feedstock for roads etc (infrastructure)

Before fracking, we were buying our oil from countries that hate us and exporting our industry to 3rd world countries,

Which part of this change do you disagree with/not like?

If you want to "actually make something," there hasn't been a better environment in the US for doing so in decades.  Go for it!
 
2014-01-13 04:38:15 PM  
High gas prices suck, but I'm sick of hearing people complain about them. You have had over 10 years of highish prices to trade in your F250 that you need to commute to your office job or your large SUV that you need for that 3" of snow you get once a year for something with better mileage.
 
2014-01-13 04:42:51 PM  

plcow: EbolaNYC: plcow: EbolaNYC: *SIGH*

It's a global market. Our oil is sold on that market. So the simpletons who farking cried for years about drill baby drill were missing the big picture, and it was designed that way by people who are way smarter and richer than they are.

Drill baby drill still created, and is creating thousands of well-paying jobs. Heaven forbid we actually export something from this country.

How about we export something we make here, not some crap we pay people to dig up out of the farking ground? Sorry but there's something to be said for actually making something but hey, let's just ship those all over seas and give companies that do it a tax break in the process.

Speaking as someone who is changing careers because of that kind of shiat, I'm getting a kick out of this reply.

1) Pay not just people, but Americans, do dig "crap" out of the ground (Americans profit, espcially lease owners, surface owners, and uneducated workers)
2) Use one portion of said  "crap" to burn in power plants to provide cheap electricity to residential, commercial and industry (power companies profit)
3) Use a second portion of said "crap" as feedstock in the petrochemical industry to create polymers (Americans profit)
4) Use the petrochemical output as a feedstock for textiles, plastics, etc (Americans profit) <- this by the way is coming BACK to American FROM overseas because of fracking.
5) Use the third portion to burn in vehicles (Americans should be using fuel for quality of life and... you guessed it, productivity and profit)
6) Use the fourth portion as a feedstock for roads etc (infrastructure)

Before fracking, we were buying our oil from countries that hate us and exporting our industry to 3rd world countries,

Which part of this change do you disagree with/not like?

If you want to "actually make something," there hasn't been a better environment in the US for doing so in decades.  Go for it!


OK sorry, I must be mistaken. So... Uhhh, we're not buying oil from 3rd world countries that hates us anymore???

Well then, why isn't gas cheaper?

Answer - Because we're still buying oil on the open world market from private companies that we subsidize that don't really like us very much.
 
2014-01-13 04:57:50 PM  

EbolaNYC: plcow: EbolaNYC: plcow: EbolaNYC: *SIGH*

It's a global market. Our oil is sold on that market. So the simpletons who farking cried for years about drill baby drill were missing the big picture, and it was designed that way by people who are way smarter and richer than they are.

...

Before fracking, we were buying our oil from countries that hate us and exporting our industry to 3rd world countries,

Which part of this change do you disagree with/not like?

If you want to "actually make something," there hasn't been a better environment in the US for doing so in decades.  Go for it!

OK sorry, I must be mistaken. So... Uhhh, we're not ...


Does everything have to be so black and white with you.  We are keeping billions of dollars within our borders by producing our own raw materials.  Just because it doesn't provide ALL that we need, doesn't mean that it doesn't have a massive impact.  Sorry that it doesn't reduce gas prices (even though it HAS kept them materially flat, like I mentioned above).  Also, WE ARE PART OF the world market.  Therefore our supply has an impact on world market prices.  Additionally, gas is not transported for free.  Therefore our gas is more competitive if used within the US than elsewhere.  I am not taking the time to explain how transportation costs impact liquidity, so you will just have to research that for yourself.

/I'm out...
 
2014-01-13 05:26:58 PM  

plcow: EbolaNYC: plcow: EbolaNYC: plcow: EbolaNYC: *SIGH*

It's a global market. Our oil is sold on that market. So the simpletons who farking cried for years about drill baby drill were missing the big picture, and it was designed that way by people who are way smarter and richer than they are.

...

Before fracking, we were buying our oil from countries that hate us and exporting our industry to 3rd world countries,

Which part of this change do you disagree with/not like?

If you want to "actually make something," there hasn't been a better environment in the US for doing so in decades.  Go for it!

OK sorry, I must be mistaken. So... Uhhh, we're not ...

Does everything have to be so black and white with you.  We are keeping billions of dollars within our borders by producing our own raw materials.  Just because it doesn't provide ALL that we need, doesn't mean that it doesn't have a massive impact.  Sorry that it doesn't reduce gas prices (even though it HAS kept them materially flat, like I mentioned above).  Also, WE ARE PART OF the world market.  Therefore our supply has an impact on world market prices.  Additionally, gas is not transported for free.  Therefore our gas is more competitive if used within the US than elsewhere.  I am not taking the time to explain how transportation costs impact liquidity, so you will just have to research that for yourself.

/I'm out...


Nobody was asking you to.

Well.. bye.
 
2014-01-13 08:28:57 PM  
Looks as if everything went according to plan.

A few years ago, I was speaking with a guy whose Dad worked for Exxon in the sixties.  I was wondering about "peak oil" and whether oil was maybe being continuously produced by the Earth.  I asked him if the oil companies had sold off all of the land on which it had extracted oil, such as in Pennsylvania.  He said, "no."  I still don't think that we should be extracting all of this oil, since it's probably there for a good reason and we may one day regret it.  Something tells me this was the goal all along, now that prices are through the roof.
 
2014-01-13 10:47:12 PM  
we should be using this time to get off cars. or, if you really need the suburb life that is destroying this country, get off gas cars.
 
2014-01-14 03:01:58 PM  

plcow: EbolaNYC: plcow: EbolaNYC: plcow: EbolaNYC: *SIGH*

It's a global market. Our oil is sold on that market. So the simpletons who farking cried for years about drill baby drill were missing the big picture, and it was designed that way by people who are way smarter and richer than they are.

...

Before fracking, we were buying our oil from countries that hate us and exporting our industry to 3rd world countries,

Which part of this change do you disagree with/not like?

If you want to "actually make something," there hasn't been a better environment in the US for doing so in decades.  Go for it!

OK sorry, I must be mistaken. So... Uhhh, we're not ...

Does everything have to be so black and white with you.  We are keeping billions of dollars within our borders by producing our own raw materials.  Just because it doesn't provide ALL that we need, doesn't mean that it doesn't have a massive impact.  Sorry that it doesn't reduce gas prices (even though it HAS kept them materially flat, like I mentioned above).  Also, WE ARE PART OF the world market.  Therefore our supply has an impact on world market prices.  Additionally, gas is not transported for free.  Therefore our gas is more competitive if used within the US than elsewhere.  I am not taking the time to explain how transportation costs impact liquidity, so you will just have to research that for yourself.

/I'm out...


Oil is fungible which means we buy about the same mix from the same people we always did. That's why "don't buy Arab oil" is such a silly sentiment. It's all mixed in the same pipeline (or ship) and you get a quantity from that pipeline. The most you can do is sort by grade of oil (heavy crude vs. light sweet crude, etc).
 
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