Edit 6-1-2014 - Well as usual I proved the experts wrong. They said gasoline would not spike this year and of course it has. The latest bullshit excuse is because so much gasoline is being exported out of the U.S. refineries.
Well then we obviously need a ban on the export of gasoline.
I started a Petition to the President to ban gasoline exports - sign here
https://www.change.org/petitions/president-of-the-united-states-ban-gasoline-exports
Ban Gasoline exports
2-23-2013
http://www.fool.com/investing/general/2013/12/23/2014-gasoline-price-forecast.aspx#.UrjfQLSmYlQ
2014 Gasoline Price Forecast
There's some good news this holiday season.
Thanks to America's energy boom we will likely be paying less at the pump in 2014.
Overall, gasoline prices are forecast in 2014 to decline to an average of $3.43 per gallon, according to the U.S. Energy Information Agency. That's $0.07 lower than this year's average and $0.20 lower than Americans paid on average for a gallon in 2012.
The following chart from the EIA shows that we can expect gas prices to stay about where they are for the next month or so. After that, gas prices are forecast to heat up as they do every year along with the weather.
What's different for the coming year is that the EIA's forecast doesn't predict a pronounced spike during the summer driving season. While the seasonal pickup is inevitable, continued oil production growth from North Dakota and Texas are expected to make the U.S. less dependent on more expensive foreign oil.
This, along with an increase in fuel-efficient vehicles and the disappearing American driver, are making the summer spikes less pronounced.
Gasoline exports keeping prices elevated
An interesting trend has developed over the past few years that now has America becoming a net exporter of refined petroleum products like gasoline. Both Valero and Phillips 66 are investing to grow export capacity in order to sell cheaper American gasoline and diesel to the international marketplace. This actually acts as a headwind to gas prices and counter balances some of the effect of lower crude oil prices.
In fact, over the past few years exports of U.S. refined products have gone from a million barrels per day to more than 3 million barrels per day.
We're using less gasoline in the U.S. due to energy efficiency gains as well as the lingering economic effects of the last recession. Those two trends would have made gas prices much cheaper if we weren't shipping our excess gasoline outside our borders.
It's quite possible that if it weren't for the U.S. being a net exporter of gasoline and other refined products that the price Americans pay at the pump would be even cheaper in 2014.
===================================================================================================
Edit: Here is is, less than a month when the experts said we would would not have extreme gas spikes this summer now they realized they fucked up and they are going to screw us over more than ever before.
Here comes the excuses of why the so called experts were wrong.
Ooops we're sorry gasoline will go higher despite there is a shit ton of oil and gasoline just because they can and they call it backwardation.
Like I said, Thugs.
12-17-2014
http://finance.yahoo.com/news/oil-fu...143519115.html
Gasoline prices in the United States have risen nearly six cents a gallon in the past month, and the spot price for a barrel of West Texas Intermediate (WTI) crude oil has risen from $97.63 at the end of December to $99.47 now, after a brief sojourn last week above $100 a barrel.
We noted Monday morning that gasoline prices remain above $3 a gallon in every state, with a national average of $3.34 a gallon, and we note some of the temporal reasons for the higher prices.
Pump prices are not likely to fall much in the next few months as refineries enter the turnaround period when they stop producing cheaper winter gasoline and begin making more expensive summer fuel.
There may be a more fundamental change also keeping crude oil prices high at a time when U.S. production is at its highest level in more than a dozen years: the futures market is being abandoned by non-commercial (i.e., speculative) participants.
As these market participants leave the market, fewer buyers remain, which lowers the futures price that producers can get as a hedge for future production. The result is an increase in price spreads between current cash spot prices and futures prices -- cash prices rise and futures prices fall. That leads to a market condition called backwardation.
There is evidence that as backwardation increases, stockpiles decrease. Crude prices remain high and so do refined product prices. Energy economist Philip Verleger notes in his latest weekly newsletter:
Looking to the future, we see no reason for commercial inventories to increase.
The market offers no incentive at the moment to build stocks.
To the contrary, it is imposing growing punishments on those who hold oil. For this reason, we agree with the IEA that the glut will be more and more elusive.
In other words, prices will remain high and probably rise even higher as commercial inventories are drawn down.
It looks like summer driving is going to be expensive.
=============================================
So once again I was right and it has nothing to do with supply and demand.
These mother fucker Thugs are simply openly thugging Americans and the American Sheeple are letting them get away with it.
That's why I'm so passionate about this corrupt fucking Industry.
Well then we obviously need a ban on the export of gasoline.
I started a Petition to the President to ban gasoline exports - sign here
https://www.change.org/petitions/president-of-the-united-states-ban-gasoline-exports
- Petitioning President of the United States
Ban Gasoline exports
-
- Petition by
David McOwen
Indianapolis, IN
- Petition by
2-23-2013
http://www.fool.com/investing/general/2013/12/23/2014-gasoline-price-forecast.aspx#.UrjfQLSmYlQ
2014 Gasoline Price Forecast
There's some good news this holiday season.
Thanks to America's energy boom we will likely be paying less at the pump in 2014.
Overall, gasoline prices are forecast in 2014 to decline to an average of $3.43 per gallon, according to the U.S. Energy Information Agency. That's $0.07 lower than this year's average and $0.20 lower than Americans paid on average for a gallon in 2012.
The following chart from the EIA shows that we can expect gas prices to stay about where they are for the next month or so. After that, gas prices are forecast to heat up as they do every year along with the weather.
What's different for the coming year is that the EIA's forecast doesn't predict a pronounced spike during the summer driving season. While the seasonal pickup is inevitable, continued oil production growth from North Dakota and Texas are expected to make the U.S. less dependent on more expensive foreign oil.
This, along with an increase in fuel-efficient vehicles and the disappearing American driver, are making the summer spikes less pronounced.
Gasoline exports keeping prices elevated
An interesting trend has developed over the past few years that now has America becoming a net exporter of refined petroleum products like gasoline. Both Valero and Phillips 66 are investing to grow export capacity in order to sell cheaper American gasoline and diesel to the international marketplace. This actually acts as a headwind to gas prices and counter balances some of the effect of lower crude oil prices.
In fact, over the past few years exports of U.S. refined products have gone from a million barrels per day to more than 3 million barrels per day.
We're using less gasoline in the U.S. due to energy efficiency gains as well as the lingering economic effects of the last recession. Those two trends would have made gas prices much cheaper if we weren't shipping our excess gasoline outside our borders.
It's quite possible that if it weren't for the U.S. being a net exporter of gasoline and other refined products that the price Americans pay at the pump would be even cheaper in 2014.
===================================================================================================
Edit: Here is is, less than a month when the experts said we would would not have extreme gas spikes this summer now they realized they fucked up and they are going to screw us over more than ever before.
Here comes the excuses of why the so called experts were wrong.
Ooops we're sorry gasoline will go higher despite there is a shit ton of oil and gasoline just because they can and they call it backwardation.
Like I said, Thugs.
12-17-2014
http://finance.yahoo.com/news/oil-fu...143519115.html
Gasoline prices in the United States have risen nearly six cents a gallon in the past month, and the spot price for a barrel of West Texas Intermediate (WTI) crude oil has risen from $97.63 at the end of December to $99.47 now, after a brief sojourn last week above $100 a barrel.
We noted Monday morning that gasoline prices remain above $3 a gallon in every state, with a national average of $3.34 a gallon, and we note some of the temporal reasons for the higher prices.
Pump prices are not likely to fall much in the next few months as refineries enter the turnaround period when they stop producing cheaper winter gasoline and begin making more expensive summer fuel.
There may be a more fundamental change also keeping crude oil prices high at a time when U.S. production is at its highest level in more than a dozen years: the futures market is being abandoned by non-commercial (i.e., speculative) participants.
As these market participants leave the market, fewer buyers remain, which lowers the futures price that producers can get as a hedge for future production. The result is an increase in price spreads between current cash spot prices and futures prices -- cash prices rise and futures prices fall. That leads to a market condition called backwardation.
There is evidence that as backwardation increases, stockpiles decrease. Crude prices remain high and so do refined product prices. Energy economist Philip Verleger notes in his latest weekly newsletter:
Looking to the future, we see no reason for commercial inventories to increase.
The market offers no incentive at the moment to build stocks.
To the contrary, it is imposing growing punishments on those who hold oil. For this reason, we agree with the IEA that the glut will be more and more elusive.
In other words, prices will remain high and probably rise even higher as commercial inventories are drawn down.
It looks like summer driving is going to be expensive.
=============================================
So once again I was right and it has nothing to do with supply and demand.
These mother fucker Thugs are simply openly thugging Americans and the American Sheeple are letting them get away with it.
That's why I'm so passionate about this corrupt fucking Industry.
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