Evidence of an oil glut.

Discussion in 'General Chat' started by Darren, Jun 18, 2017.

  1. Darren

    Darren Still an :censored:

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  2. Shrek

    Shrek Singletree Moderator Staff Member

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    I can tell there is a glut just from the 15 cent per gallon drop that we have seen around here over the past month
     

  3. Steve_S

    Steve_S Well-Known Member

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    Current price per barrel is $44.90 and we are paying the same for Gasoline as when it was $105.00 per barrel. Sure there was minor drops but NOTHING that matched the PPB drop and those "momentary" drops did not last. There is a "Game afoot" and we are the unwilling pawns in the game. Funny how no one ever mentions (news etc) the simple fact that the Oil Co's are (Censored) the public... BUT then again, Government Tax Income from Petro would drop if retail price dropped, can't have that now, can we....
     
    Last edited by a moderator: Jun 19, 2017
  4. Darren

    Darren Still an :censored:

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    Thank the EPA and state agencies. Stricter emissions requirements lead to refinery shutdowns (less competition). Different blends required by some states didn't help either.
     
  5. coolrunnin

    coolrunnin Well-Known Member

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    Fuel tax increases haven't really helped either....
     
  6. coolrunnin

    coolrunnin Well-Known Member

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    This article doesn't paint that picture.

    https://www.eia.gov/todayinenergy/detail.php?id=14791
     
  7. arabian knight

    arabian knight Miniature Horse lover Supporter

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    And why the heck so many BLENDS?????? That is THE MOST ridiculous regulation of all time~!! Talk about the dumb epa standards that sure as heck is on the top~

    Some where between 50 AND 55 different blends of gasoline required in the US~!!!!! That is just stupid~!
     
  8. Darren

    Darren Still an :censored:

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    The graph shows that the number of refineries has decreased. The other factor, depending on region, is transportation. Tanker travel distance gets factored into the price. I make it a practice of talking to almost every trucker I see delivering gasoline. I always ask them where they load. The answers might surprise you. I found out recently that barge deliveries to certain areas went away a long time ago.
     
  9. coolrunnin

    coolrunnin Well-Known Member

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    The accompanying article explains the reduced number of refineries, and the increased fuel production.

    I would think it likely barge hauling is down because pipeline hauling is up.

    Every expense is factored into the finished product price, that's just good business practice.
     
  10. Steve_S

    Steve_S Well-Known Member

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    Edited for a word which is not defined as a swear word in ANY dictionary ? What, next Goodness Gracious will be a banned statement... Gosh, Golly & Darn too why not ?? Snowflakism and overtly PC affects daily interchange.

    MOVE THIS TOPIC TO THE Darkrooms then... goodness me.

    Regardless, none here connected the Billions Lost by Big Oil in Siberia when the entire Ukraine Distraction occurred NOR the point the Saudi's made to ensure sanctions etc were in place to protect "their oil sales" by forcing PPB down to below $50 to underline their "demand for oil revenue security". None of that was a coincidence, shortly before the Saudi's and friends went on a shopping spree for arms at heavily discounted rates. Does no one remember all the Oil & Gas exploration in Siberia by all the Big Oil Co's ? It was HUGE NEWS prior to the whole Ukraine distraction... but so quickly buried under a pile of something... The Billions they had at stake, nor why they could continue doing business for 6 months after the sanctions were in place... COMPENSATION people... Big Oil had to be compensated for the potential revenues lost from Siberia... which BTW: has more Oil & Gas reserves in the ground that the entire Middle East altogether now, mostly because it has never really been exploited... The Devil is in the Details, which get reported minimally and downplayed.
     
  11. gilberte

    gilberte Well-Known Member Supporter

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    Well geewillaakers, calm down before yer head explodes.:D
     
  12. mmoetc

    mmoetc Well-Known Member

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    No, we're not paying the same price as when gas was $104/barrel.

    http://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart
     
  13. Steve_S

    Steve_S Well-Known Member

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    We are presently paying $1.10 per litre / $4.15 per USG. which is what we were paying at the pump when PPB was $105 US retail prices dropped a bit more due to volume but your still paying almost double than you should.... but that varies a lot by the different states doesn't it... bottom line, Big Oil is gouging YOU - ME with the governments Okie Dokie.
     
  14. mmoetc

    mmoetc Well-Known Member

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    Really. The chart I posted shows an almost direct correlation between gas and oil prices. And the sub$2.20/gal I paid this morning is almost half of the $4/gal I paid when oil was over $100/bbl. The problem isn't that prices don't track but that there were few fundamental reasons other than market manipulation for oil prices to have surged as they did in the past. And will undoubtedly do at some point in the future.
     
  15. kellyon

    kellyon Member

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    it seems to be interesting, tnx for sharing
     
  16. GTX63

    GTX63 Well-Known Member

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    Well, while "Big Oil" gets the hickory tea treatment (as my grandfather used to say) big RX, big booze, big tobacco, big media comm, big software, big banking, etc sit quietly on the same bus greasing the same slimy hand that reserved them a seat.
    It is little more than a high stakes poker club restricted to a select group that the owner charges a fee to enter, a fee to play and a cut from every pot.
    Pointing one finger at the petroleum industry is somewhat myopic and selective given government is at the least an enabler and more likely a conspirator/designer in it all.
     
  17. Darren

    Darren Still an :censored:

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    More on the glut:

    " ... crude oil production in the U.S. is now back at its highest levels since 2015 and at its highest in the U.S. since hitting a post-oil crash low late last year. And as long as production continues ramping in the U.S., no amount of coordination from OPEC members or other state-sponsored oil producers is likely to bring markets into balance."


    https://www.yahoo.com/finance/news/oil-prices-nose-diving-one-chart-explains-181255850.html
     
  18. Darren

    Darren Still an :censored:

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