$$Gasoline Prices$$

PUBLIC RAT

10 pointer
Feb 18, 2014
1,620
Business channels saying recession talk driving oil down. Oil could drop significantly if recession is confirmed. However with tight supply if a bad hurricane was to hit oil could rocket way up. So who knows.
 

EC

12 pointer
Jul 13, 2003
12,544
Louisville, KY.

With Second Gas Explosion in Three Days, Are We Under Attack?​

 

predator1

12 pointer
Dec 25, 2008
3,588
Glasgow,Ky
Business channels saying recession talk driving oil down. Oil could drop significantly if recession is confirmed. However with tight supply if a bad hurricane was to hit oil could rocket way up. So who knows.
From what I’ve read and seen, we’ve got more than enough oil. We’re lacking in refineries. We’re at 97% capacity with no new refineries set to come online. It takes years and millions upon millions to make that happen. Companies are afraid to make that kind of of long term investment with the hostility our current government administration has shown them.
 
Anybody else want to see gas under 2 bucks?
Here ya go! Closest you’re gonna get hahahahaha

247AD493-DF46-421D-A96D-F32D15EF640B.jpeg
 

KYote-Krusher

12 pointer
Jan 12, 2006
3,692
South Central Kentucky
From what I’ve read and seen, we’ve got more than enough oil. We’re lacking in refineries. We’re at 97% capacity with no new refineries set to come online. It takes years and millions upon millions to make that happen. Companies are afraid to make that kind of of long term investment with the hostility our current government administration has shown them.

This is where they want us.

The strategic reserve can hold 725 million barrels, right now it's somewhere around 375 million barrels and getting smaller every day. The US consumes around 20 million barrels a day, which means if we only used the reserve oil, we're good for about 19 days. We wouldn't actually do that because of replacement by domestic production (roughly 11 million barrels per day) and purchases from other countries but you can readily see what a small difference the reserve would really make even if it was full.

Who can blame the companies that would build the refineries for being afraid to invest millions, maybe billions of dollars in something that some enviro-wako could possibly shut down just because it might endanger some unknown snail or release an accidental discharge of CO2?

I've been wrong before but it won't surprise me a bit if shortly after the mid-term elections, the price of oil (and gasoline) go crazy.

The strategic reserve won't even make a dent if there's no place to refine it.
 


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