2014 Gasoline Price Forecast

[MoMeanMugs]

He has a personal vested interest in spewing bullshit because he works directly in the Oil Thug Industry.

And what interest are you so vested in that causes you to spew so much bullshit?

 

[brianmanahan]

i am glad to see this thread is still very much alive

and gets dumber with every post :awe:

 

[brianmanahan]

oh oh oh dave, you should make one of these threads about the insurance industry

at least when you buy oil, you are getting something - with insurance you are getting NOTHING!

 

[dmcowen674]

oh oh oh dave, you should make one of these threads about the insurance industry

at least when you buy oil, you are getting something - with insurance you are getting NOTHING!

While that is true they are not apples to apples.

There is no reward with higher prices for being incompetent.

 

[desy]

Here let me get this one for you as I'd like to hear the plan too!

Hey Dave,

Since you've obviously zipped in and out to post your new "damning" article and must have missed my question, I'll ask again.

I have a question......when you say this: "...they should be forced to lower the price", exactly how would you accomplish that? Nationalize all the gas and oil companies in the U.S., something like Venezuela did? Or put price controls on gas and oil prices within the U.S., which completely ignores the world price of gas and oil?

What is your solution? You demand prices get dropped for gasoline, yet I don't see a solution proposed. Outside of government intervention and control of that industry, I don't see how the oil industry will be forced to do a darned thing. And that's what you're advocating, right?

 

[hal2kilo]

I know this is futile since it's a serious question. Why has gasoline generally gone up about $.30 in the last 4 to 5 weeks?

Is it the usual suspects.

Swithover to warmer weather formulas?
The Ukraine?
CEO's need a new pair of shoes?

I guess the oil companies have won. We just take it and shrug our shoulders apparently since it hasn't made the news were just happy as pigs in shit about it.

 

[desy]

You don't have to take it, as a consumer you can choose alternatives or use less
Which is what the US has been doing since 2008, using less, however as we have now hit peak oil the price is persistently high because to extract the oil remaining 'of which there is lot of' costs more.
Think of oil as an apple tree, lots of low hanging fruit gets consumed but now what is left is harder to get and requires ladders 'technology' to get which takes longer and is more expensive to do. 'Baaken oil shales, tar sands, NG to liquids, Ethanol'

So you are correct almost any ripple in supply/demand chain will cause fluctuation in pricing

 

[hal2kilo]

You don't have to take it, as a consumer you can choose alternatives or use less
Which is what the US has been doing since 2008, using less, however as we have now hit peak oil the price is persistently high because to extract the oil remaining 'of which there is lot of' costs more.
Think of oil as an apple tree, lots of low hanging fruit gets consumed but now what is left is harder to get and requires ladders 'technology' to get which takes longer and is more expensive to do. 'Baaken oil shales, tar sands, NG to liquids, Ethanol'

So you are correct almost any ripple in supply/demand chain will cause fluctuation in pricing

Thanks for the serious reply. I just happened to come across an article on MSN News from a professor at I think at Texas A&M who is saying that the math and estmates being used today are overstating the usable reserves in the US significantly. I would link it but it's a pita with this friggin Nook.

 

[dmcowen674]

4-6-2014

http://www.usatoday.com/story/money/business/2014/04/05/gas-prices-heading-higher/7320431/

California bad dreaming? Gas prices head higher



Gasoline prices are making their annual spring climb.


The average U.S. price of a gallon of gasoline has risen 5 cents the past two weeks. The Lundberg Survey of fuel prices released Sunday says the price of a gallon of regular is $3.61, the highest price in Lundberg's twice-monthly surveys since late July 2013.

Californians saw some especially painful spikes this weekend. Drivers there are averaging $4.04 a gallon after a 35-cent jump in wholesale prices since mid-March -- prices could hit up to $4.25 within days.

 

[Meghan54]

Hey Dave,

Since you've obviously zipped in and out to post your new "damning" article and must have missed my question, I'll ask again.

I have a question......when you say this: "...they should be forced to lower the price", exactly how would you accomplish that? Nationalize all the gas and oil companies in the U.S., something like Venezuela did? Or put price controls on gas and oil prices within the U.S., which completely ignores the world price of gas and oil?

What is your solution? You demand prices get dropped for gasoline, yet I don't see a solution proposed. Outside of government intervention and control of that industry, I don't see how the oil industry will be forced to do a darned thing. And that's what you're advocating, right?

 

[Tweak155]

^ You're dropping to his level.

 

[Londo_Jowo]

California = high gasoline taxes + special blend used nowhere else

 

[dmcowen674]

Ethanol now more per gallon than gasoline.

That was never supposed to happen but nothing is surprising with these Thugs.



4-7-2014

http://www.fool.com/investing/general/2014/04/07/pump-prices-may-fuel-ethanol-decision-in-june.aspx

Pump Prices May Fuel Ethanol Decision in June


Ethanol prices have more than doubled over the last few months due to harsh weather conditions and transportation bottlenecks spurred by railway congestion, adding to ethanol producer woes that are already mounting over the uncertainty of government blending mandates.


With oil from the Bakken shale and Canada fighting railway congestion as well, and approval for the Keystone XL pipeline an ongoing question mark, prices are soaring and ethanol is getting the short end of the stick because the profit margins are smaller.


The end result is a glut of supply at ethanol refineries, some of which have had to temporarily shut down.


In terminals at New York, Chicago and the on the Gulf Coast, spot prices for ethanol have risen to over $3.50 per gallon from under $2.50 per gallon just in the last month.


What it means is that ethanol—which has traditionally been cheaper than gasoline—is now more expensive.



And in the US, prices at the pump carry a heavy political weight.


As the Environmental Protection Agency (EPA) considers a potential revision of the 2014 ethanol mandate, this price jump could be the market indicator that sounds the death knell for ethanol producers who are hoping there won't be any downward revisions in the renewable fuels plan.


In June, the EPA will have to set a floor for the amount of ethanol oil refiners will be required to blend into the mix for this year. In November last year, the EPA proposed reducing the 2014 corn ethanol requirement by 1.4 billion gallons to 15.2 billion gallons--a proposal that has had ethanol suppliers up in arms.

 

[dmcowen674]

Oil Oil everywhere but they still jack the price up.

"Geopolitical Tensions" is the Thugs excuse of the day

Oil above $103

Crude Oil May 14 (CLK14.NYM)

-NY Mercantile Follow

103.07

0.51(0.50%) 1:15PM EDT

http://finance.yahoo.com/q?s=clk14.nym

• [video] Geopolitical tensions drive crude up: Reportat CNBC(Wed 10:31AM EDT)

 

[dmcowen674]

Houston we have a problem. Americans are being screwed and loving it.

The oil thugs are sitting on record 202 million barrels of oil in Houston.

U.S. refineries exported a record 3.1 million barrels a day of gasoline, diesel and other petroleum products

4-9-2014

http://www.bloomberg.com/news/2014-...oil-that-can-t-be-shipped-out.html?cmpid=yhoo

Houston Fills With Crude Oil That Can’t Be Shipped Out



Houston and the rest of the U.S. Gulf Coast have more crude oil than the region can handle.



Stockpiles in the region centered on Houston and stretching to New Mexico in the west and Alabama in the east rose to 202 million barrels in the week ended April 4, the most on record, Energy Information Administration data released yesterday show.



Storage tanks are filling as new pipelines carry light, sweet oil found in shale formations to the coast and U.S. law keeps companies from moving it out. Most crude exports are banned and the 13 ships that can legally move oil between U.S. ports are booked solid. The federal Jones Act restricts domestic seaborne trade to vessels owned, flagged and built in the U.S. and crewed by citizens.



Companies including TransCanada Corp. (TRP) and Enterprise Products Partners LP (EPD) built and reversed pipelines that helped a carry a record amount of oil to the Gulf Coast from the Midwest last year. Total U.S. production reached 8.23 million barrels a day last week, the highest level since May 1988.



U.S. refineries also exported a record 3.1 million barrels a day of gasoline, diesel and other petroleum products last year, EIA data show.

 

[MagickMan]

Ethanol now more per gallon than gasoline.

That was never supposed to happen but nothing is surprising with these Thugs.

Nope, still cheaper here by ~.15 /gal.

 

[dmcowen674]

4-13-2014

http://247wallst.com/consumer-products/2014/04/13/sharp-rise-in-gas-prices-some-areas-at-4/

Sharp Rise In Gas Prices, Some Areas At $4



The dreaded $4-a-gallon price for an average gallon of gasoline has not been reached nationwide, but as that national average spiked to $3.635 yesterday, some parts of the country are already across the higher threshold.

California is the largest state in the U.S. by population: About 12% of Americans live there. The price of an average gallon of regular in California is $4.158, according to AAA’s Daily Fuel Gauge Report. In several other states with large numbers of residents, gas prices are also very high compared to the national average. Those include, at levels well above $3.75, [COLOR=#0033ff !important][FONT=inherit !important][COLOR=#0033ff !important][FONT=inherit !important]New [/FONT][COLOR=#0033ff !important][FONT=inherit !important]York[/FONT][/FONT][/COLOR][/COLOR] and Illinois.


Among other large states, including Michigan, Indiana and Florida, gas prices are well above the national average. In those, prices could reach $4 by summer. That’s only two months away.

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[dmcowen674]

Meanwhile oil is closing in on $105 all the while there is a ton of oil and the Oil Thugs are storing it everywhere they can.

http://finance.yahoo.com/q?s=clk14.nym

Crude Oil May 14 (CLK14.NYM)

-NY Mercantile Follow

104.53

0.79(0.76%) 3:38AM EDT

4-14-2014

http://www.bloomberg.com/news/2014-...ion-escalates-in-east-ukraine.html?cmpid=yhoo



Brent Crude Rises With WTI as Tension Escalates in East Ukraine

“The major contributor to the firm tone we’re seeing in the market is further concerns about Ukraine,” said Michael McCarthy, a chief strategist at CMC Markets in Sydney who predicts investors may sell contracts if Brent climbs to $109.50 a barrel.


Russia is the world’s biggest energy exporter. A halt of the country’s crude and natural gas supplies through Ukraine “could be hugely impactful,” according to Ed Morse, the head of commodities research at Citigroup Inc. Any sanctions on Russia’s energy industry by the West would cause prices to “spike much higher,” he said in a report today.

 

[cabri]

Do you understand what you posted?

Brent Crude Rises With WTI as Tension Escalates in East Ukraine

“The major contributor to the firm tone we’re seeing in the market is further concerns about Ukraine,” said Michael McCarthy, a chief strategist at CMC Markets in Sydney who predicts investors may sell contracts if Brent climbs to $109.50 a barrel.

US prices are not isolated.

 

[PliotronX]

A few weeks ago, gas had jumped in Western Colorado by 30 some odd cents making a ~$6 hike in topping off for me which is lame but this is only during the colder days, can't wait to take my SV650 to work where a 30 cent hike translates to a 90 cent topoff difference Feels awesome to fill an entire tank on 14 bucks.

I would laugh at ethanol being more expensive than gas, but that is a depressing turn of events. Like no one saw that coming.

 

[desy]

The only issues I have with oil companies is the tax breaks they get for a profitable industry.
http://www.motherjones.com/politics/2014/04/oil-subsidies-renewable-energy-tax-breaks

Bottom Line

What would happen if the oil industry's subsidies dried up?

If tax breaks for oil companies were cut off, the industry and its allies warn, gas prices would soar, domestic oil production would tank, and the entire economy would take a hit. When Democrats targeted the subsidies for oil in 2011, Continental Resources CEO and Mitt Romney megadonor Harold Hamm said it would kill "thousands of American jobs." Senate Republican leader Mitch McConnell declared, "Raising taxes on American energy production will increase the price of gas. Oh, and it would also make us even more dependent on foreign sources of oil."

The data suggests otherwise. Research by economist Stephen Brown found that the average American consumer would spend an extra 60 cents a year on petroleum products if Congress eliminated the oil industry's main tax perks. Even an American Petroleum Institute tax expert has said that ending tax breaks "would not affect the global economics underpinning oil supply and demand, which explain today's gasoline prices." Alan Krueger, the Treasury Department's chief economist, told Congress in 2009 that cutting oil and gas subsidies would shrink domestic production by less than 0.5 percent and wouldn't significantly change how much we import. The oil companies' costs would increase 2 percent and some jobs would be lost, but the industry would be more efficient in the long run.

And there's an added benefit from killing aid to oil companies: protecting the planet. According to the International Energy Agency, governments worldwide spent $523 billion subsidizing fossil fuel consumption in 2011. Ending that spending would cut global CO2 emissions nearly 6 percent by 2035. And it would free up money for addressing the environmental costs of fossil fuels, mitigate the effects of climate change, and remove what the IEA calls a "hand brake" slowing the development of clean energy.

 

[dmcowen674]

4-16-2014

http://finance.yahoo.com/news/oil-flat-near-104-despite-190748774.html

Crude oil remained near $104 a barrel despite huge rise in US stocks on Ukraine worries



U.S. oil rose to nearly $105 per barrel in morning trading, but fell after the Energy Department's weekly supply report showed an increase of 10 million barrels, the largest in 13 years, on higher domestic production and imports.


"The increasing tensions between the West and Russia over Ukraine could provide further upside momentum to the oil market, supporting crude oil prices higher," said Myrto Sokou of Sucden Financial Research in London.


http://finance.yahoo.com/news/sharp-rise-crude-oil-inventories-150059822.html

Sharp Rise in Crude Oil Inventories Unlikely to Lower Gasoline Prices

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 10 million barrels last week, maintaining a total U.S. commercial crude inventory to 394.1 million barrels. They have risen beyond the top of the five-year range for this time of the year.


Gasoline prices continue to rise this year compared with last year, when they had begun falling by this time.

 

[dmcowen674]

Come on Oil Thugs, crank up the prices on your own down there.


4-17-2014

http://finance.yahoo.com/news/retail-gasoline-prices-6-cents-151336094.html

Retail gasoline prices up 6 cents across Texas



AAA says retail gasoline prices across Texas up 6 cents this week, reach $3.49 per gallon



Gasoline prices nationally rose by a nickel this week to hit an average of $3.66.

 

[Londo_Jowo]

Yet, even with a $0.06/gal increase we still enjoy cheaper gas than you McOwned, so put that in your pipe and smoke it.

 

[dmcowen674]

The yearly rewarding the Oil Thugs for incompetence is in full swing:

4-17-2014

http://www.latimes.com/business/la-fi-gas-prices-20140418,0,3834291.story#axzz2zCfxevrt

Gasoline prices jump in California as refineries encounter trouble

The statewide average for a gallon of regular has surged 13 cents in a week. Analysts differ on when prices will begin to drop.

Problems at some of the state's fuel refineries have sent gasoline prices soaring in California just in time for the kickoff of the busy driving season.
A gallon of regular gasoline hit a statewide average of $4.196 on Thursday, up about 13 cents in a week, according to AAA. That's the highest price since March 2013.


"A couple of refinery issues have started to flare up, which is fairly normal this time of the year," said Patrick DeHaan, senior petroleum analyst at GasBuddy.com, a fuel price tracking website.

Cas Donovan said she can't wait for prices to fall. The 52-year-old Venice resident drives cross-country every summer to her vacation house in New York state. But with costs soaring, she's considering shipping her car instead and hopping on a plane to save time.


"The costs won't be too different," said Donovan, who works as an assistant director on films and TV shows. "I'm shocked."

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