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Gas prices

By Heraclitusstudent following x   2019 Jan 4, 6:13pm 979 views   40 comments   watch   nsfw   quote     share    


June 2008:
- Oil ~$150
- Gas ~$4

Jan 2019:
- Oil <$50
- Gas ~$4


... falling from the OPEC cartel frying pan into the oil refiners cartel fire?
1   MrMagic   ignore (11)   2019 Jan 4, 6:28pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Go buy a Tesla, you'll be saved and save a ton on gas!!

Why do I have to think of everything for you?

Or, move out of CA, gas is $2.19 here.
2   Booger   ignore (2)   2019 Jan 4, 6:59pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Heraclitusstudent says
June 2008:
- Oil ~$150
- Gas ~$4

Jan 2019:
- Oil <$50
- Gas ~$4


... falling from the OPEC cartel frying pan into the oil refiners cartel fire?


Those are California prices.
3   E-man   ignore (0)   2019 Jan 4, 7:04pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

EV is the way to go.

Honda Clarity had an offer of $199/mo for their EV. My buddy got his in early 2018 on a 3-year lease with 20,000 miles/year. He also got the $2,500 CA rebate plus $500 rebate from PG&E. The range on this car is only 89 miles. He gets free charge from his office. Once you factored in the gas savings, he's driving the car for free.

2018 Nissan Leaf, $20k out the door after Fed tax savings and rebate. The range is about 150 miles.

If you want a car that puts a smile on your face every time you drive it, get a Tesla. Get a license plate GAS LOL or NOMOGAS or NO OPEC.... ;-)
4   Strategist   ignore (2)   2019 Jan 4, 7:18pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

E-man says
Honda Clarity had an offer of $199/mo for their EV. My buddy got his in early 2018 on a 3-year lease with 20,000 miles/year. He also got the $2,500 CA rebate plus $500 rebate from PG&E. The range on this car is only 89 miles. He gets free charge from his office. Once you factored in the gas savings, he's driving the car for free.

It was such an amazing deal, I tried to get it. Only available in Northern California. :( . You can only lease it. Seems like some kinda test/experiment.

E-man says
If you want a car that puts a smile on your face every time you drive it, get a Tesla. Get a license plate GAS LOL or NOMOGAS or NO OPEC.... ;-)

HOW ABOUT:
FUK OIL
FUKOPEC
FUK GAS
FUK XOM
5   MAGA   ignore (1)   2019 Jan 4, 8:01pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

$1.69 at my neighborhood Costco here in San Antonio. I also get an additional 4% off thanks to my Visa card.
6   Hugolas_Madurez   ignore (4)   2019 Jan 4, 8:11pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Strategist says
HOW ABOUT:
FUK OIL
FUKOPEC
FUK GAS
FUK XOM


Won't be approved by the DMV Nazis.
7   Strategist   ignore (2)   2019 Jan 4, 8:19pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

MAGA says
$1.69 at my neighborhood Costco here in San Antonio.


WTF. I don't understand this. Texas has:
No State income tax.
They have low taxes on everything else.
Their property tax rate is higher than California, but not much different in actual dollars

And yet those Texans are doing better than us. What's your secret?
8   Hugolas_Madurez   ignore (4)   2019 Jan 4, 8:28pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

Strategist says
MAGA says
$1.69 at my neighborhood Costco here in San Antonio.


WTF. I don't understand this. Texas has:
No State income tax.
They have low taxes on everything else.
Their property tax rate is higher than California, but not much different in actual dollars

And yet those Texans are doing better than us. What's your secret?


No fucking Socialists, duh.
9   Strategist   ignore (2)   2019 Jan 4, 8:29pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

DASKAA says
Strategist says
MAGA says
$1.69 at my neighborhood Costco here in San Antonio.


WTF. I don't understand this. Texas has:
No State income tax.
They have low taxes on everything else.
Their property tax rate is higher than California, but not much different in actual dollars

And yet those Texans are doing better than us. What's your secret?


No fucking Socialists, duh.


We are hiring the wrong politicians.
10   APOCALYPSEFUCKisShostikovitch   ignore (38)   2019 Jan 4, 8:40pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Police Auction

1976 Cadillac Eldorado: $144

Nice ride. Great radio.

Who cares what gas costs?
11   thenuttyneutron   ignore (0)   2019 Jan 4, 8:48pm   ↑ like (4)   ↓ dislike (0)   quote   flag        

Strategist says
o fucking Socialists, duh.


Ohio is better in regards to taxes than Texas. Ohio has a Low income tax and very low property taxs. I grew up in the DFW area and left 20 years ago. I spent the last 13 years living in Ohio. If I had the same house here as I did in Ohio, my property taxes would be 5x higher. Ohh well. I have to go to where the jobs are.

Texas is also awesome because of the respect of my gun freedoms. I am getting sick and tired of seeing California plates here because I know that they fucked up their state and are now here to fuck up my state.
12   REpro   ignore (0)   2019 Jan 5, 11:46am   ↑ like (1)   ↓ dislike (1)   quote   flag        

I am getting sick and tired of seeing California plates here because I know that they fucked up their state and are now here to fuck up my state.


It's happening now.
Not only Californians', but also Illinoisans' or New Yorkers' bringing Democratic poison mentality to TX.
13   anonymous   ignore (null)   2019 Feb 16, 9:05am   ↑ like (1)   ↓ dislike (1)   quote   flag        

No one paid any attention to this back when it first came out but you better pay attention to it now.......you will feel this at the pump sooner or later.

If you think the Federal Government Shutdown was painful and inconvenient - these guys play hardball and the OCAW has yet to be heard from.

Refinery Union Seeks Bigger Wage Hike in 2019 Contract Talks

The United Steelworkers International will seek a wage increase more than double what workers received in the last labor deal as the agreements with U.S. oil refiners begin to expire Feb. 1.

The head of the union’s oil bargaining program said the recovery in oil prices, corporate tax breaks and fatter profit margins will fuel a push for higher wages and better benefits for more than 30,000 workers at about 220 U.S. refineries, oil terminals, pipeline companies, transportation facilities and petrochemical plants. The union will begin talks in mid-January with Royal Dutch Shell Plc, the oil company again tapped to represent the oil industry at the bargaining table.

The union is seeking an 8 percent yearly pay increase, according to a person familiar with the plans, more than double what they received in 2015.

The union is seeking a three-year contract to replace the current four-year pact, Kim Nibarger, chair of the USW’s national oil bargaining program said. He declined to comment on the size of the pay raise the union is seeking.

“You don’t have to be very bright to see the price of crude, the crack spread, that this administration gave them big tax cuts,” Nibarger said in a phone interview. "They spent all their tax money in buying their own stock back. But they’re in better shape than they typically are.”

San Diego

Union members gathered in San Diego beginning Saturday to hammer out their bargaining platform. The 2019 contract will replace a four-year deal reached in 2015 after the union went on its first widespread strike since 1980. At that time, talks stalled over similar demands as this time around. The work stoppage shut down 12 refineries, almost 20 percent of total U.S. capacity.

"We look forward to a productive set of talks with the USW and will bargain in good faith to reach a mutually-acceptable agreement," Shell said in an emailed statement. "Our goal in the bargaining process will be to reach an agreement with the USW which ensures that our employees continue to receive competitive pay and benefits while keeping the industry competitive in the global marketplace."

The existing national agreement expires Feb. 1.

“I am thoroughly convinced the oil companies will plead poverty at the outset,” said Nibarger, a former refinery worker at Shell’s Anacortes facility in Washington who said he characterizes himself as “an extremely optimistic individual.” Since the last negotiations, he said the union has been able to convince some companies to use fewer maintenance contractors and to address the issue of worker fatigue. The union and also some companies have been quicker to address potential controversies, Nibarger said.

The policy for the 2019 negotiations, hammered out over several days of talks, now goes to USW locals and units for a vote within 45 days. The policy must be approved by 75 percent of those groups.

Local Deals

Any national agreement, once approved by the union and Shell, will be subject to ratification by local union chapters, which bargain with companies for the local component of their work contracts. The current labor deals are a mixture of local and national agreements.

The 2015 national agreement included yearly wage increases, language addressing worker fatigue and performance of routine maintenance by contractors as well as maintaining the current cost-sharing ratio of the union’s health-care plan.

“We’re expecting to be able to get raises this time,” Nibarger said. “Health and safety are paramount with our workers. These are damn dangerous jobs. You are just managing a risk.”

https://www.bloomberg.com/news/articles/2018-09-26/united-steelworkers-set-bargaining-terms-for-oil-contract-talks
14   anonymous   ignore (null)   2019 Feb 16, 9:07am   ↑ like (1)   ↓ dislike (1)   quote   flag        

Marathon, Galveston Bay Workers to Resume Contract Talks: Official

HOUSTON (Reuters) - Union workers at Marathon Petroleum Corp's Galveston Bay Refinery are preparing to resume negotiations with the company after rejecting the last contract offer, a United Steelworkers (USW) official said.

The Galveston Bay Refinery, located in Texas City, Texas, was the site of a bitter strike in 2015, which began over a breakdown in national contract talks but lasted almost five months because of disagreements on local terms.

On Monday, Marathon spokesman Sid Barth said: "Negotiations continue, operations continue."

No date has been set for the talks, said David Jankowski, vice president of USW Local 13-1, which represents workers at the refinery.

"We're waiting on the company for dates and times," Jankowski said.

The Galveston Bay workers rejected Marathon's contract offer in voting last week.

One reason for the overwhelming vote against Marathon's offer was a proposed change in leadership on the production units to salaried staff from hourly chief operators, Jankowski said.

Marathon is also seeking changes in time off and sick leave.

Negotiators for the USW International union reached agreement on Jan. 31 with Shell Oil Co, representing oil companies, on wages increases and benefits for 30,000 refinery, chemical plant, pipeline and terminal workers represented by the union, including the hourly employees at the Galveston Bay Refinery.

That agreement, which provides an 11 percent pay raise over its three-year length, will be paired with the agreement on local issues at Galveston Bay to make the contract for workers at the refinery.

https://money.usnews.com/investing/news/articles/2019-02-11/marathon-galveston-bay-workers-to-resume-contract-talks-official
15   anonymous   ignore (null)   2019 Feb 16, 9:09am   ↑ like (1)   ↓ dislike (1)   quote   flag        

HOUSTON, (Reuters) - The United Steelworkers union (USW) has made progress on some issues in contract talks with Shell Oil Co, which is the lead negotiator for U.S. refinery and chemical plant owners, sources familiar with the negotiations said.

Many tough issues remain to be resolved at the bargaining table, the sources said.

The sources declined to identify on which issues progress has been made or which remain to be resolved between the union negotiating on behalf of 30,000 refinery, chemical plant and pipeline workers and Shell Oil, the U.S. arm of Royal Dutch Shell Plc

The union is seeking a pay increase of 8 percent a year for each year of a three-year agreement that would take effect when the current contract expires on Feb. 1.

Shell has not identified any of its proposals in the first negotiations since a strike in 2015 when more than 7,000 workers walked off their jobs for several weeks.

Monday’s message comes after the United Steelworkers said on Friday it had rejected a proposal from Shell for an automatic extension of negotiations when the contract expires.

In addition to the pay increase for workers, who on average earn $40 an hour after four years on the job, the USW has said it is seeking improved standards to prevent fatigue as well as additional health and safety representatives, including at small plants.

The union also hopes to gain greater protection for pipeline workers traveling to remote locations and performing high-risk work.

Shell has been the lead company in contract talks for U.S. union-represented refinery workers since 1997.

https://www.hydrocarbonprocessing.com/news/2019/01/usw-and-shell-make-progress-in-refinery-talks
16   anonymous   ignore (null)   2019 Feb 16, 9:13am   ↑ like (1)   ↓ dislike (1)   quote   flag        

For those on the East Coast - take heart and don't feel left out - trouble is coming your way as well

Philadelphia Energy Solutions Inc, owner of the largest and oldest refinery on the U.S. East Coast, is facing another financial crisis just months after emerging from a controversial bankruptcy, according to two sources and a Reuters review of court filings.

PES, which exited bankruptcy in August, saw its cash balance fall to $87.7 million at the end of 2018, down from $148 million just three months earlier, a $61 million decline, according to a post-bankruptcy financial report filed late last month. The company entered bankruptcy roughly a year ago with $43 million cash on hand, court documents show.

Refineries based on the East Coast suffer from difficult economics due to the cost of shipping crude oil from West Texas or Canada, but PES has had other problems at the plant in South Philadelphia including weak gasoline margins and high debt costs.

The company filed for bankruptcy in January 2018, blaming its woes largely on the costs of complying with the U.S. Renewable Fuel Standard, a 2005 law that requires refiners to either blend biofuels like ethanol into fuel or purchase credits, called RINs, from competitors who do.

PES does not have those blending capabilities, so it has to pay for credits. But a Reuters analysis showed other factors played a role in the bankruptcy, including the withdrawal of more than $590 million in dividend-style payments from the company by its investor-owners.

After filing for bankruptcy, the company was given a waiver for half of its $350 million in liabilities related to biofuels credits by the U.S. Environmental Protection Agency.

Poor gasoline margins have hurt the company’s bottom line as well. PES’s weak cash position forced the refiner to significantly scale back a planned $90 million maintenance project that began in January, according to two sources familiar with the plant’s operations. Refiners perform maintenance to keep units operating reliably and safely, protecting themselves from costly unplanned outages.

“I am not surprised that they are economically struggling once again, but I didn’t expect it to happen so soon,” Christina Simeone, a director at the Kleinman Center for Energy Policy, said.

In the last three months of 2018, while PES saw its cash balance fall by $61 million, the compliance credits were trading at multi-year lows.

"They're having financial difficulties when RIN prices dropped 75 percent. It's pretty damming evidence against their bankruptcy claims that the RFS is the primary claim in filing bankruptcy," said Simeone, who authored a report last year that predicted the refinery would close by 2022 due to poor economics. The site has been home to a refinery since 1870.

PES spokeswoman Cherice Corley said the company declined to comment.

U.S. East Coast refiners like PES lack access to cheaper crude that refiners in other parts of the country enjoy, which inflicts greater pain on the region’s industry when margins are low.

Delta Air Lines’ refinery in nearby Trainer, Pennsylvania, lost $40 million in the fourth quarter. The company is considering selling the plant, sources recently told Reuters.

PES recently secured a $50 million loan from Bardin Hill Investment Partners, formerly Halcyon Capital Management, one of the plant’s owners, two sources told Reuters. The company still has more $700 million in long-term debt, most of which comes due in 2022.

Private-equity giant Carlyle Group LP rescued the 330,000 barrel-per-day refinery from closure in 2012, betting they could tap cheap shale oil out of North Dakota and turn a hefty profit.

The bet proved lucrative in the early years, but once the discount on North Dakota’s oil eroded due to better transport options, PES’s bottom line started to suffer.

Carlyle became a minority owner once the company emerged from bankruptcy. Deutsche Bank AG and Bardin Hill are the primary owners now. Bardin Hill did not respond to requests for comment; Deutsche Bank declined to comment.

https://www.hydrocarbonprocessing.com/news/2019/02/one-of-the-oldest-us-refineries-in-trouble-again
17   Goran_K   ignore (2)   2019 Feb 16, 9:14am   ↑ like (0)   ↓ dislike (1)   quote   flag        

REpro says
I am getting sick and tired of seeing California plates here because I know that they fucked up their state and are now here to fuck up my state.


It's happening now.
Not only Californians', but also Illinoisans' or New Yorkers' bringing Democratic poison mentality to TX.


The amount of California plates in Arizona and Nevada is startling these days.
18   Quigley   ignore (0)   2019 Feb 16, 9:26am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Sorry but the gas prices in California are not mostly due to unionized labor. They’re due to political deals and corporate cronyism, mixed with sky high fuel taxes on every step of the process. Oh and also an artificially low fuel supply enabled by more California politics and environmental regulations. Put all those together and we get an extra couple bucks. We aren’t Europe yet, but it’s moving that direction! At some point, it may be more profitable to smuggle in gasoline from Nevada than cocaine from Mexico!
19   anonymous   ignore (null)   2019 Feb 16, 10:15am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Quigley says
Sorry but the gas prices in California are not mostly due to unionized labor


Tis true. My knowledge of the California market is far more than you suspect. The past and current pain threshold before people become unhinged is $4.00 per gallon but it can ride up to $5.00 per gallon on average before anyone in politics or their cronys really has to worry.

The public whining when the price goes above $4.00 is tolerable nuisance and a cost of doing business but it gives the local media something to do with another round of why are gas prices too high stories.

Anyway California and beyond - should these guys start going out of strike leaving management to run the facilities - watch out.

Should they actually shut one down (unforeseen human error you know) and muck it up a bit - even more pain for the consumer.

Even a moderate curtailment in supplies will show up within hours at the pump, just go back to the little energy release in L.A. a few years back, the speculators can smell blood in the water better than a shark.

And of course just like when one of the local Longshoremen's union pulls a work slowdown or wildcat strike - these guys can put a really yuugge hurt on the economy and they rarely cave like Potus.
20   anonymous   ignore (null)   2019 Feb 16, 10:18am   ↑ like (1)   ↓ dislike (1)   quote   flag        

thenuttyneutron says
now here to fuck up my state.


Didn't Ted Cruz, Tom DeLay and the Bush family already do that along with Kenny Boy, Joel Osteen etc ? Thought that was a done deal that the state was fucked up.
21   anonymous   ignore (null)   2019 Feb 16, 10:19am   ↑ like (1)   ↓ dislike (1)   quote   flag        

Quigley says
At some point, it may be more profitable to smuggle in gasoline from Nevada than cocaine from Mexico!


Wait until you pay more per gallon of water than gas - than you can really complain.
22   anonymous   ignore (null)   2019 Feb 16, 10:22am   ↑ like (1)   ↓ dislike (1)   quote   flag        

Giving me dislikes isn't going to change anything - get ready to pay more and enjoy that yuugee middle class tax cut you got from the GOP.

Whatever you got back is gone as soon as you go to buy something since the increase in consumer products, utilities, etc. offset anything a middle class tax payer got back.

Don't be jealous you do not have a high paying union gig like the OCAW members, Steelworkers Union members at the Refineries or the Longshoremen's Union.
23   anonymous   ignore (null)   2019 Feb 16, 10:32am   ↑ like (1)   ↓ dislike (1)   quote   flag        

Having fun yet MLTC ?
24   d6rB   ignore (1)   2019 Feb 16, 10:45am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Kakistocracy says
Didn't Ted Cruz, Tom DeLay and the Bush family already do that along with Kenny Boy, Joel Osteen etc ? Thought that was a done deal that the state was fucked up.

Then why damned Yankees and Blue state inhabitants are moving to TX in droves? For a better, more humid and swamp-like climate?
25   SunnyvaleCA   ignore (0)   2019 Feb 16, 11:29am   ↑ like (2)   ↓ dislike (0)   quote   flag        

After making the mortgage or rent payment here in silicon valley and then paying income taxes, I'm numb to any other costs.
AAA has a nice gas price part of their website: https://gasprices.aaa.com/?state=CA . Looks like "regular" fuel is $2.30 national average; California is $3.27 average. San Francisco is $3.71; San Mateo is $3.41; Santa Clara is $3.28 .

Mono County price is $4.15, but that's out in the middle of nowhere (death valley); right next door to that is Tuolumne with a price of $3.00.

By the way, the best license plate for an electric car is: COAL PWR
26   ThreeBays   ignore (0)   2019 Feb 16, 11:43am   ↑ like (0)   ↓ dislike (1)   quote   flag        

Gas should be $10 a gallon to pay for the environmental cost, and accelerate the switch to EVs and renewables.

I think this could be possible in 3-4 years, not all at once but starting, as EV prices reach parity with ICE. The Auto industry will make the switch to EV and will be happy to endorse these hikes as well, to get people to buy new cars.
27   HEYYOU   ignore (25)   2019 Feb 16, 12:54pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Gas prices may take a back seat to what happens when some of the +$22,000,000,000,000 natl. debt doesn't get repaid?

Gas prices will go to $0.25/gal. when enough debtors lose their cars to repossessions?
Used car values will fall too?
28   anonymous   ignore (null)   2019 Feb 16, 1:01pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

HEYYOU says
Gas prices may take a back seat to what happens when some of the +$22,000,000,000,000 natl. debt doesn't get repaid?


That plus it's the same as Electricity rates...

They got it - you need it - so fuck you and pay up or do without - it's that simple

No one on here owns or operates their own refinery - you have no choice - you have owners
29   Tenpoundbass   ignore (13)   2019 Feb 16, 1:02pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Wasn't this part of a bigger thread where everyone was saying "Get used to $150 Oil"?

I was saying it would be back to the Historical $30 to $50 trading eventually?
30   HeadSet   ignore (1)   2019 Feb 16, 1:17pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

APOCALYPSEFUCKisShostikovitch says
Police Auction

1976 Cadillac Eldorado: $144

Nice ride. Great radio.

Who cares what gas costs?


'76 Eldorado Convertible is gorgeous. Reasonable mileage despite the "8.2 Litre" powerplant.
31   SunnyvaleCA   ignore (0)   2019 Feb 16, 3:38pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

ThreeBays says
Gas should be $10 a gallon to pay for the environmental cost, and accelerate the switch to EVs and renewables.

Carter could have put a $0.01 national tax on gasoline that got incremented by $0.01 every month. We'd be paying about $5 tax by now and a total cost of $7/gallon.

Let's run some (made up) numbers!
In the early 1970s, an efficient sedan with seating for 5 would be very lucky to get 20 MPG in a mix of highway and city driving. I'm talking about a sedan that could hit 60 MPH in 12 to 14 seconds and carry 4 people + an additional person squashed between the two in the back. Gas was about $0.50/gallon, which is about $2.50 adjusted for inflation. That gives us $2.50/20 = $0.125/mile cost.

Fast forward to today... If fuel is $3/gallon, we can achieve $0.125/mile with something that averages 24 MPG. So, basically, a Toyota Camry will easily fit the bill while providing more comfort, more size, and way more crash protection. An automatic transmission 4-banger Camry will beat Magnum PI's stick-shift Ferrari in a 0-to-60 sprint. Yikes!

At $7/gallon, you'd need to 56 MPG overall, so you'd be in a hybrid of some sort to match the $$$/mile of the early 1970s. A gas-only Prius will likely fall short, but the plug-in one is likely to be way ahead for most people. (Electric-only for most people most of the time with 50 to 60 MPG when you are going a 1970s-style 55 MPH on long road trips.)
32   anonymous   ignore (null)   2019 Feb 16, 5:14pm   ↑ like (1)   ↓ dislike (1)   quote   flag        

Wasn't this part of a bigger thread where everyone was saying "Get used to $150 Oil"?

I was saying it would be back to the Historical $30 to $50 trading eventually?

Nope not even close as to the thread - might be the one concerning the non existent refineries in Florida or the massive decrease in cars these days as deduced in an 8 hour or less viewing on a single stretch of Florida highway from a few years ago.
33   HeadSet   ignore (1)   2019 Feb 16, 5:23pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

At $7/gallon, you'd need to 56 MPG overall, so you'd be in a hybrid of some sort to match the $$$/mile of the early 1970s

Everyone forgets about Motorcycles:

Honda NC750X (80mpg)
Kawasaki KLX250 (80mpg)
Royal Enfield EFI (80mpg)
Honda CBR250R (80mpg)
Yamaha SR400 (60mpg)
Suzuki DL650 V-Strom (60mpg)
Yamaha FZS600 FZ6 (48mpg)
34   B.A.C.A.H.   ignore (0)   2019 Feb 16, 10:06pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Booger says


Those are California prices.

No they're not. Yesterday I paid $2.999 / gallon at World Oil in San Jose for 87 Octane.
35   B.A.C.A.H.   ignore (0)   2019 Feb 16, 10:13pm   ↑ like (0)   ↓ dislike (1)   quote   flag        

ThreeBays says
Gas should be $10 a gallon

For what you could do with it, reliably move a ton of steel with passengers or a load of groceries in comfort and safety for about 30 cents per mile, $10/gallon gasoline would still be a Bargain of The Millenia, compared to alternatives.
36   APOCALYPSEFUCKisShostikovitch   ignore (38)   2019 Feb 16, 10:48pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Pay $56 for a police auction special, who gives a fuck what gas costs?
37   kt1652   ignore (1)   2019 Feb 16, 10:51pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

B.A.C.A.H. says
ThreeBays says
Gas should be $10 a gallon

For what you could do with it, reliably move a ton of steel with passengers or a load of groceries in comfort and safety for about 30 cents per mile, $10/gallon gasoline would still be a Bargain of The Millenia, compared to alternatives.

FUD. Not even close.
Would an EV driver come and fix this, I am tired.
Even a gas Camry gets better than $.15/mi.
38   kt1652   ignore (1)   2019 Feb 17, 12:00am   ↑ like (0)   ↓ dislike (0)   quote   flag        

SunnyvaleCA says
ThreeBays says
Gas should be $10 a gallon to pay for the environmental cost, and accelerate the switch to EVs and renewables.

Carter could have put a $0.01 national tax on gasoline that got incremented by $0.01 every month. We'd be paying about $5 tax by now and a total cost of $7/gallon.

Let's run some (made up) numbers!
In the early 1970s, an efficient sedan with seating for 5 would be very lucky to get 20 MPG in a mix of highway and city driving. I'm talking about a sedan that could hit 60 MPH in 12 to 14 seconds and carry 4 people + an additional person squashed between the two in the back. Gas was about $0.50/gallon, which is about $2.50 adjusted for inflation. That gives us $2.50/20 = $0.125/mile cost.

Fast forward to today... If fuel is $3/gallon, we can achieve $0.125/mile with something that averages 24 MPG. So, basically, a Toyota Camry will easily fit the bil...

Wake up call. Even Aljazeera gets it.
Gulf nations need to diversify their economies and move away from oil dependency...
https://www.aljazeera.com/programmes/countingthecost/2017/11/oil-saudi-arabia-2030-economic-vision-171104083501148.html
39   Waitup   ignore (0)   2019 Feb 17, 2:00am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Kakistocracy says
Tis true. My knowledge of the California market is far more than you suspect. The past and current pain threshold before people become unhinged is $4.00 per gallon but it can ride up to $5.00 per gallon on average before anyone in politics or their cronys really has to worry.

The public whining when the price goes above $4.00 is tolerable nuisance and a cost of doing business but it gives the local media something to do with another round of why are gas prices to high stories.


Normally the way it works in California is, to raise the price by 50 cents, they would gradually take it to $4.00 from $3.00. Then after a lot of public whining, they would scale back to $3.50. Whining stops and everyone is happy. Mission accomplished!
40   anonymous   ignore (null)   2019 Feb 17, 3:47am   ↑ like (0)   ↓ dislike (0)   quote   flag        

"back to the Historical $30 to $50 trading eventually"

If the price gets back down to $30 bbl - you will have much much bigger things to concern yourself with then the price per bbl of oil or price per gal of gas. There won't be time for posting on PatNet either unless it is to complain unemployment compensation has ended or the same with foodstamps etc.

What type of crude ? Brent, OPEC, Texas Varieties, Oil Sands - ? There are different historical charts for each type of crude.

i.e. WTI Crude Oil Prices - 10 Year Daily Chart: https://www.macrotrends.net/2516/wti-crude-oil-prices-10-year-daily-chart

i.e. Average Brent Crude Oil Price by Year Chart 1990 through 2017: https://www.coachmanenergyoperating.com/crude-oil-price-by-year-chart/

Nominal price or inflation adjusted or reality ?

The first table shows the Annual Average Crude Oil Price from 1946 to the present. Prices are adjusted for Inflation to July 2017 prices using the Consumer Price Index (CPI-U) as presented by the Bureau of Labor Statistics.

Note: Since these are ANNUAL Average prices they will not show the absolute peak price and will differ slightly from the Monthly Averages in our Oil Price Data in Chart Form.

Also note that although the monthly Oil prices peaked in December 1979 the annual peak didn't occur until 1980 since the average of all the monthly prices was higher in 1980.

Inflation adjusted oil prices reached an all-time low in 1998 (lower than the price in 1946)! And then just ten years later in June 2008 Oil prices were at the all time monthly high for crude oil (above the 1979-1980 prices) in real inflation adjusted terms (although not quite on an annual basis).

Prices are based on historical free market (stripper) oil prices of Illinois Crude as presented by Plains All American. Typically Illinois Crude is a couple of dollars cheaper per barrel than West Texas Intermediate (WTI) because it requires a bit more refining.

Price controlled prices were lower during the 1970's but resulted in artificially created gas lines and shortages and do not reflect the true free market price. Stripper prices were allowed for individual wells under special circumstances (i.e. the wells were at the end of their life cycle) but the oil they produced represented the actual free market prices of the time.

https://inflationdata.com/inflation/Inflation_Rate/Historical_Oil_Prices_Table.asp

The chart below does not seem to be in concurrence with your memory unless you can remember back to 1946



https://inflationdata.com/inflation/Inflation_Rate/Historical_Oil_Prices_Chart.asp

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