Higher fuel prices coming down the pipes

[JGalt]

I'm sitting here watching the price of oil and gas go up in realtime. Apparently OPEC and related countries are cutting back their production. This would be a good time for President Trump to signal our oil and gas industries to go balls to the wall with their production.

Crude oil - 2022 Data - 1983-2021 Historical - 2023 Forecast - Price - Quote - Chart

Oh wait, I forgot. Trump's not President any more.

OPEC and allied oil-producing countries, including Russia, have made a small trim in their supplies to the global economy

"FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy Monday, underlining their unhappiness as recession fears help drive down crude prices — along with the cost of gasoline, to drivers’ delight.

The decision for October rolls back a mostly symbolic increase of 100,000 barrels per day in September. It follows a statement last month from Saudi Arabia’s energy minister that the OPEC+ coalition could reduce output at any time.

Oil producers such as Saudi Arabia have resisted calls from U.S. President Joe Biden to pump more oil to lower gasoline prices and the burden on consumers. OPEC+ has stuck with only cautious increases to make up for deep cuts made during the COVID-19 pandemic, which were finally restored in August."

OPEC+ makes small trim to world oil supplies as prices fall - Breitbart

 

[Manonthestreet]

Well that just means we have to mty the strategic reserve......ummmm.....ummmm

 

[pknopp]

Oil is at $89. It's was $96 last week. Will those who are financially positioned to get prices to rise, finally get them back up? Maybe but prices are not based upon fundamentals.

The yearly range is $63-$130 despite the fact that the fundamentals are little changed.

 

[JGalt]

Well that just means we have to mty the strategic reserve......ummmm.....ummmm

Not if we drain the oil from Hunter Biden's hair. There must be a bazillion barrels in there.

 

[1srelluc]

We have not hit refinery turn around yet.

If memory serves two are going into turn around by the end of the month and one is shutting down for good.

Not to mention the one that caught on fire last week and was still down as of a couple days ago.

The Perfect Storm?

 

[JGalt]

Oil is at $89. It's was $96 last week. Will those who are financially positioned to get prices to rise, finally get them back up? Maybe but prices are not based upon fundamentals.

The yearly range is $63-$130 despite the fact that the fundamentals are little changed.

The recent drop in gasoline prices were because of the benevolence of the refiners. What's far more worrisome is how the price of natural gas, heating oil, and coal have risen over the last year, especially with Winter coming.

Natural gas is up 87.4% this year, heating oil is 74.3% higher, and coal is 143% higher. Coal still produces 85% of the country's electricity, so that cost will be handed to the consumers.

 

[pknopp]

The recent drop in gasoline prices were because of the benevolence of the refiners. What's far more worrisome is how the price of natural gas, heating oil, and coal have risen over the last year, especially with Winter coming.

Natural gas is up 87.4% this year, heating oil is 74.3% higher, and coal is 143% higher. Coal still produces 85% of the country's electricity, so that cost will be handed to the consumers.

Take the money out of all of this that are not actually purchasing any of these and prices become far more stable.

 

[Delldude]

Not if we drain the oil from Hunter Biden's hair. There must be a bazillion barrels in there.

View attachment 692012

Look at his pupils...he's high on something.

 

[Delldude]

The recent drop in gasoline prices were because of the benevolence of the refiners. What's far more worrisome is how the price of natural gas, heating oil, and coal have risen over the last year, especially with Winter coming.

Natural gas is up 87.4% this year, heating oil is 74.3% higher, and coal is 143% higher. Coal still produces 85% of the country's electricity, so that cost will be handed to the consumers.

I see it as a rise in supply due to a lack of driving earlier this year. It should go back up as supply dwindles due to more driving, lower prices.

 

[BlueGin]

Yay…just in time for me to get my car back that’s been in the shop for two months waiting for the dealership to get the parts to fix my transmission and a tech to do the work.

FJB.

 

[1srelluc]

The recent drop in gasoline prices were because of the benevolence of the refiners. What's far more worrisome is how the price of natural gas, heating oil, and coal have risen over the last year, especially with Winter coming.

Natural gas is up 87.4% this year, heating oil is 74.3% higher, and coal is 143% higher. Coal still produces 85% of the country's electricity, so that cost will be handed to the consumers.

I believe that there is only one place within 30 miles of me that sells nut coal.

 

[night_son]

I'm sitting here watching the price of oil and gas go up in realtime. Apparently OPEC and related countries are cutting back their production. This would be a good time for President Trump to signal our oil and gas industries to go balls to the wall with their production.

Crude oil - 2022 Data - 1983-2021 Historical - 2023 Forecast - Price - Quote - Chart

Oh wait, I forgot. Trump's not President any more.

OPEC and allied oil-producing countries, including Russia, have made a small trim in their supplies to the global economy

"FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy Monday, underlining their unhappiness as recession fears help drive down crude prices — along with the cost of gasoline, to drivers’ delight.

The decision for October rolls back a mostly symbolic increase of 100,000 barrels per day in September. It follows a statement last month from Saudi Arabia’s energy minister that the OPEC+ coalition could reduce output at any time.

Oil producers such as Saudi Arabia have resisted calls from U.S. President Joe Biden to pump more oil to lower gasoline prices and the burden on consumers. OPEC+ has stuck with only cautious increases to make up for deep cuts made during the COVID-19 pandemic, which were finally restored in August."

OPEC+ makes small trim to world oil supplies as prices fall - Breitbart

Western civilization is verging on collapse. We will likely see this kind of thing come and go, rise and ebb until it all flatlines for good. In the meantime, I'll be eating popcorn, drinking lots of White Russians, and reading Klaus Schwab's COVID-19: The Great Reset for laughs and grammatical gaffes.

 

[Toddsterpatriot]

Coal still produces 85% of the country's electricity, so that cost will be handed to the consumers.

Energy Statistics Data Browser – Data Tools - IEA

Energy Statistics Data Browser - Data tools. A data tool by the International Energy Agency.

www.iea.org

Closer to 20% of our electricity.

 

[Dekster]

I'm sitting here watching the price of oil and gas go up in realtime. Apparently OPEC and related countries are cutting back their production. This would be a good time for President Trump to signal our oil and gas industries to go balls to the wall with their production.

Crude oil - 2022 Data - 1983-2021 Historical - 2023 Forecast - Price - Quote - Chart

Oh wait, I forgot. Trump's not President any more.

OPEC and allied oil-producing countries, including Russia, have made a small trim in their supplies to the global economy

"FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy Monday, underlining their unhappiness as recession fears help drive down crude prices — along with the cost of gasoline, to drivers’ delight.

The decision for October rolls back a mostly symbolic increase of 100,000 barrels per day in September. It follows a statement last month from Saudi Arabia’s energy minister that the OPEC+ coalition could reduce output at any time.

Oil producers such as Saudi Arabia have resisted calls from U.S. President Joe Biden to pump more oil to lower gasoline prices and the burden on consumers. OPEC+ has stuck with only cautious increases to make up for deep cuts made during the COVID-19 pandemic, which were finally restored in August."

OPEC+ makes small trim to world oil supplies as prices fall - Breitbart

How much of our energy comes on spot oil purchases though......sucks for Europe. For us, we will just get molested because they can.

 

[Donald H]

Trump would be the better choice if stopping America's war with Russia was the top priority.

But America can't have cheap gas, Trump, and no war all together. All three are not compatible!

The current war is the intended culmination of all of America's 40 wars of aggression since the end of world war 2.

Russia in effect has America's cheap gas.

And China has the first options on that oil.

Biden's attempts to find alternatives and encourage green solutions is failing Americans. The only solution left is the military solution but that's inconveniently negated by the MAD factor.

 

[Rambunctious]

But but but but but MAGA!!!!!!!

 

[JGalt]

Look at his pupils...he's high on something.

Hunter? He's high on life.


Thug life.

 

[JGalt]

I believe that there is only one place within 30 miles of me that sells nut coal.

 

[JGalt]

View attachment 692035

Energy Statistics Data Browser – Data Tools - IEA

Energy Statistics Data Browser - Data tools. A data tool by the International Energy Agency.

www.iea.org

Closer to 20% of our electricity.

That's weird. I pulled the 85% figure off of the eia.gov website. Do they know something they're not telling us?

Coal will account for 85% of U.S. electric generating capacity retirements in 2022

 

[Toddsterpatriot]

That's weird. I pulled the 85% figure off of the eia.gov website. Do they know something they're not telling us?

Coal will account for 85% of U.S. electric generating capacity retirements in 2022

View attachment 692087

Retirements.