The rising cost of gasoline isn't going to go away. [Admin warning: NO POLITICS]

Carsinmyblood

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AKgrampy

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Our gasoline prices have dropped 15%. I imagine after Labor Day they will drop more as demand drops. I do not ever expect to see the low prices of a few years ago when oil dropped to below $25 a barrel but I do feel the biggest driving factor is the price of oil and seasonal demand. Inflation is effecting everything including the price for electricity.
 


Scooby24

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Why would anyone in his right mind build or maintain an oil refinery, when the President is saying this:

Maintenance is fine, but there's no need to build new refineries. EVs are taking off, FAST. The subsidies for oil and gas need to be redirected to support the rising infrastructure needs for an electrified future. Yes, oil and gas will still be needed to support those demands, but they don't need to expand. Just maintain.
 
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H.Bergeron

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Including all of the parts that go into manufacturing our MMEs. And then they’re shipped by diesel powered trains or trucks. It all goes into the price we pay.
 

All Hat No Cattle

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Yes. However, inflation is fueled by high fuel prices and reckless government spending. So fuel prices are at the root of the problem.
Could this contribute to high fuel prices? And exactly who is doing the exporting? It looks like the oil companies import millions of barrels of oil. Then they refine it, in the USA, and ship it out of the country. Why doesn't it stay here? Hmmm.

The United States was a total petroleum net exporter in 2020 and 2021

In 2021, the United States exported about 8.63 million barrels per day (b/d) and imported about 8.47 million b/d of petroleum,1 making the United States an annual total petroleum net exporter for the second year in a row since at least 1949. Total petroleum net exports were about 0.16 million b/d in 2021, and total petroleum net exports in 2020 were 0.63 million b/d. Also in 2021, the United States produced2 about 18.66 million b/d of petroleum and consumed3 about 19.78 million b/d. Even though U.S. annual total petroleum exports were greater than total petroleum imports in 2020 and 2021, the United States still imported some crude oil and petroleum products from other countries to help to supply domestic demand for petroleum and to supply international markets.
https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php

And then...
Shell reports record profits of €11.3 billion as oil and gas prices soar. Shell posted record profits on Thursday (28 July) for a second straight quarter as the energy giant benefited from soaring oil and natural gas prices fueled by Russia's war in Ukraine.5 days ago
On Friday, Exxon Mobil booked an unprecedented $17.85 billion profit for the second quarter and Chevron made a record $11.62 billion. The sky-high profits come one day after the U.K.'s Shell shattered its own profit record. Soaring energy prices have rattled consumers and become a political flash point. 4 days ago
 

AZBill

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Agree 100%, and this is exactly why fossil fuels are not going away for a long time.

By the way, there is a big lie in the article about hurricanes getting more frequent and more powerful. The data does not lie, but the media does:
Ford Mustang Mach-E The rising cost of gasoline isn't going to go away. [Admin warning: NO POLITICS] HurricanesPerDecade.JPG
 

Socalsp3

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Agree 100%, and this is exactly why fossil fuels are not going away for a long time.

By the way, there is a big lie in the article about hurricanes getting more frequent and more powerful. The data does not lie, but the media does:
HurricanesPerDecade.JPG
where's the data for the last 12 years?
Are we imagining the colorado river, the rhine river, the po river the largest in italy drying up right now? Climate change is here. The only people denying it are oil companies and the politicians in their pocket.
 
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H.Bergeron

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Could this contribute to high fuel prices? And exactly who is doing the exporting? It looks like the oil companies import millions of barrels of oil. Then they refine it, in the USA, and ship it out of the country. Why doesn't it stay here? Hmmm.


https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php

And then...
Petroleum products are global commodities. Domestic production can lower the global price which also lowers the domestic price. But you cannot expect petroleum produced in the US to remain exclusively here any more than Mexico can expect MMEs to remain in Mexico.
 

ctenidae

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Even the oil companies aren't denying climate change. They're all switching as fast as they can from fossil fuels to new energy sources. No one is building new refineries, and some are shutting down rather than doing maintenance (due to both cost and regulation). Midstream assets aren't getting built, mostly due to regulation and protests. Developing new fossil fuel sources are hardly profitable enough to be worth it anymore (see share buybacks and special dividends - the energy companies have nothing better to do with the profits they're making than return them to investors).

The end of fossil fuels is coming, and the higher the cost at the pump, the faster it happens. Unfortunately, the higher the price at the pump the more painful the switch is, but if it's not painful, the switch won't happen. The knock-on inflation impacts suck, but there's more to that problem than just fuel costs.

Unfortunately, the whole issue is way too easy to use as a political football, which just makes it harder to do what needs to be done (build out a massive, brand new electrical infrastructure, for instance). Whether people "believe" in anthropogenic climate change or not, it's hard to imagine anyone really believing that continuing to pump massive amounts of crap into the air is a good thing. It's even harder to believe that anyone truly believes paying the folks we have to pay for the privilege of pumping massive amounts of crap into the air is a good thing.
 

RickMachE

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You are so misinformed. You lack expertise in what you speak. Everyone knows there is no such thing as "elf and magic". What a dunderhead. The correct term is Elfin Magic. Not "elf and magic". Sheesh...

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