SIGforum
Gas jumped up $.30 in the last 4 days, what’s it doing in your neck of the woods?
June 07, 2022, 04:24 AM
V-TailGas jumped up $.30 in the last 4 days, what’s it doing in your neck of the woods?
Topped off the GMC 3500 delivery truck yesterday. $123.73, and the tank had ten gallons remaining before I started fueling. Would have been another fifty bucks for a complete tank.
Craziness!
הרחפת שלי מלאה בצלופחים June 07, 2022, 05:12 AM
joatmonvJust saw it this morning on the way to work. $5.09 a gallon. Was $4.79 last night.
I'd rather be hated for who I am than loved for who I'm not.
June 07, 2022, 06:27 AM
Oz_Shadow$5.40 for regular in Michigan now.
June 07, 2022, 07:25 AM
AudioholicI bought 20 gallons of fuel for the mower/yard equipment plus 13 more to top off the truck yesterday. $165. Sam's Club in mid Michigan was $4.93 with discount, most other stations nearby were $5.19. About time for heads on pikes in DC.
"Every time you think you weaken the nation" Moe Howard June 07, 2022, 08:15 AM
Balzé HalzéIf there isn't an absolute and total bloodbath for the Democrats in November than something is seriously wrong with the voters in this country.
~Alan
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Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan
June 07, 2022, 08:25 AM
SIG4EVAquote:
Originally posted by Balzé Halzé:
If there isn't an absolute and total bloodbath for the Democrats in November than something is seriously wrong with the voters in this country.
It wouldn't be the voters, it would be the ballot collecting and voter fraud.
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Psalm 118:24 "This is the day which the Lord hath made; we will rejoice and be glad in it"
June 07, 2022, 09:05 AM
tatortoddquote:
Originally posted by P220 Smudge:
quote:
The move comes as several gas stations in the state have already run out of fuel.
This is slightly more concerning news, I think. The idea of the gas lines of the 70's coming back in the midst of the move kind of scares me a bit. I wasn't around for that stuff, I don't know what it was like, and I don't know what it would be like today. The idea of running out of fuel on the road with the whole family in one vehicle coming into the hottest part of the year heading into the hottest part of the country....
The
EIA link I posted yesterday shows that the US has 26.5 days of gasoline which is the normal days of gasoline. Here is days of gasoline by week since 1991:
It also shows we have 26.4 days of crude oil which is the normal days of crude oil (i.e. plenty of oil to refine into more gasoline, diesel, jet fuel, etc). This has been tracked longer so is days of crude by week since 1982:
Hysteria causes runs on ammo, runs on gasoline, runs on ATMs, etc. Don't spread the hysteria. Instead, inquire about reputable sources of knowledge (not at home daddy). In true Sigforum fashion, somebody will likely be knowledgeable on the subject.
I have retired oil & gas friends who worked during the oil embargo and the gasoline lines from the "shortage." Guess how full the gasoline storage tanks were? Damn near full. Hysteria on the crude oil side caused the gas lines.
Ego is the anesthesia that deadens the pain of stupidity
DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer. June 07, 2022, 10:05 AM
SIGnifiedWhen you see gas rising at the rate it is here… I think it’s pathetic to call people “hysterical” over legitimate concerns.
So you’re on the “inside and in the know“ … funny me too although upstream … Alberta/Canadian shale frackers (and a few pipelines) mostly, but spent fair amount of time with folks in Houston.
Instead of coming across a snotty oil&gas elitist, perhaps you could help us formulate a reasonable position to protect against this pernicious tax and the very real damages people are facing today and in the future. Yes?
"Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty." ~Robert A. Heinlein June 07, 2022, 10:07 AM
oddballIt doesn't take a wild ass guess to name the state.
https://www.breitbart.com/econ...nears-10-per-gallon/
"I’m not going to read Time Magazine, I’m not going to read Newsweek, I’m not going to read any of these magazines; I mean, because they have too much to lose by printing the truth"- Bob Dylan, 1965
June 07, 2022, 10:13 AM
HRKSeems like a reasonable assertion regarding runs on products in the US. It's common in FL, Weather Channel reports a tropical depression with a projected path from Cuba to North Carolina, which means FL and over the next week the shelves go dry of supplies. Media induced panics/hysteria is a real thing.
People are hysterical when stuff like this is reported, a few gas stations run out and the local news reports a gas shortage, people panic run out and put 5 gallons in their truck to top it off,
Nothing big if it's one guy but 100,000 people or million in a metro area buying up gas daily, whenever they pass a 1/4 tank down and instant shortage. Media driven both tv and social panics.
Grew up in the 70's and we had no shortages in KY of gas or oil, don't remember lines at gas stations ever, never had a problem, but then again we didn't have people panic there.
June 07, 2022, 10:25 AM
SIGnifiedI see
zero panic every single day at gasoline stations and grocery stores. (And I live among some of the looneyist nut cases in America.)
I know there were idiots a few months ago putting gasoline into plastic bags on the East Coast when the colonial pipeline got hacked. That’s different than inflation driving energy prices sky high.
Y’all do a disservice to the nation and the truth when you use hyperbolic language.
"Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty." ~Robert A. Heinlein June 07, 2022, 10:25 AM
tatortoddI concur with HRK. The media and bloggers feeds hysteria and repeating it feeds hysteria. A reporter asking "is gas going to hit $10 this summer?" gets butts in front of the screen (i.e. helps sell ads), but isn't the same as a logical argument such as we normally have 26 days of supply but only have x days.
I was at an oil & gas facility on September 11th. While I was there, they received 4.2 million gallons of gasoline. On the drive home, there were lines at gas stations, gas stations running out, people raising prices (some prosecuted for violating price gouging laws), etc. It wasn't a supply issue, it was a fear issue and a "gotta do something" issue.
Ego is the anesthesia that deadens the pain of stupidity
DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer. June 07, 2022, 10:54 AM
SIGnifiedFor shame, the nation loses 3000 souls in a few hours, and folks reacted weirdly. I was in the greater New York City area that day and I know what panic looks like. Very situational.
Totally different situation now in price velocity, volume of restrictions, quality of access and the world economic conditions. We’ve been building up for this ever since January 21, 2021 and the signing of 39 EOS.
This is the purposeful destruction of oil and gas to encourage transition to electricity. Joe Biden himself said it just 10 days ago w no WH walk-back.
"Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty." ~Robert A. Heinlein June 07, 2022, 11:00 AM
P220 Smudgequote:
Originally posted by tatortodd:
Hysteria causes runs on ammo, runs on gasoline, runs on ATMs, etc.
quote:
Originally posted by tatortodd:
Don't spread the hysteria.
Excuse me? I comment on something posted in the news and I’m guilty of spreading hysteria, warranting an admonishment? It’s already in the news. I don’t get to talk about that? Nonsense.
Look, I posted a guess back on page 30, and I’m no Fullbright scholar, but it seemed like you quoted me and said “you’re wrong, because the industry babble says so.” Then I was right. Now you’re quoting me and saying I’m wrong, and this time, you’ve got charts and graphs. I guess we’ll see what happens.
I think if you could actually tell me what all this shit means for a consumer, you would do so, wouldn’t you? What you’ve got is info on how the oil industry works, but since we all know it isn’t a supply problem, the problem is with the politicians and the people on the ground, and in that realm, your observations aren’t any more qualified than mine are.
You said gas prices wouldn’t go up. They did. What’s your next prediction? Yours, not the graphs, not the stock market speculators.
______________________________________________
"If the truth shall kill them, let them die.”
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June 07, 2022, 11:01 AM
HRKquote:
This is the purposeful destruction of oil and gas to encourage transition to electricity. Joe Biden himself said it just 10 days ago w no WH walk-back.
That has been my take from day one
The transition from gas to EV is more about moving political clout from oil and gas to green energy companies that the left has paid out billions, trillions in government subsidy money.
Tesla would not exist if it wasn't for government hand outs, Musk is a billionaire courtesy of the US taxpayer to some extent.
Without $7 to $10 gas per gallon, EV's can't exist
June 07, 2022, 11:24 AM
Brother$4.59 in Central Missouri today.
June 07, 2022, 11:26 AM
SIGnifiedquote:
Originally posted by HRK:
quote:
This is the purposeful destruction of oil and gas to encourage transition to electricity. Joe Biden himself said it just 10 days ago w no WH walk-back.
That has been my take from day one
The transition from gas to EV is more about moving political clout from oil and gas to green energy companies that the left has paid out billions, trillions in government subsidy money.
Tesla would not exist if it wasn't for government hand outs, Musk is a billionaire courtesy of the US taxpayer to some extent.
Without $7 to $10 gas per gallon, EV's can't exist
The Progressive green’s idiot stategery to artificially create high energy prices to drive the WEC transition to electricity, forgot exactly how electricity is made here. Natgas is up nearly 1000%.
The blackout forecast in mid-America this summer are due to the latest Biden restrictions on coal.
You can’t begin to think about transitioning to electricity even if you wanted to, Dumb-ass Joe Biden!
As long as electricity parallels the rise in costs of hydrocarbons, there will never be the net differential needed for the big push. What maroons!
"Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty." ~Robert A. Heinlein June 07, 2022, 11:31 AM
PowerSurgeNot to mention our electrical grid can’t support electric vehicles en masse.
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The fool hath said in his heart, There is no God. Psalm 14:1
June 07, 2022, 11:33 AM
tatortoddquote:
Originally posted by P220 Smudge:
Excuse me? I comment on something posted in the news and I’m guilty of spreading hysteria, warranting an admonishment? It’s already in the news. I don’t get to talk about that? Nonsense.
Look, I posted a guess back on page 30, and I’m no Fullbright scholar, but it seemed like you quoted me and said “you’re wrong, because the industry babble says so.” Then I was right. Now you’re quoting me and saying I’m wrong, and this time, you’ve got charts and graphs. I guess we’ll see what happens.
I think if you could actually tell me what all this shit means for a consumer, you would do so, wouldn’t you? What you’ve got is info on how the oil industry works, but since we all know it isn’t a supply problem, the problem is with the politicians and the people on the ground, and in that realm, your observations aren’t any more qualified than mine are.
You said gas prices wouldn’t go up. They did. What’s your next prediction? Yours, not the graphs, not the stock market speculators.
I didn't write that gasoline prices wouldn't go up. Instead, on
May 24th I wrote that July and August gas futures were lower than that day's price since you had predicted $6.00 in July. You focused on your $5 prediction in June which I had not commented on. Go back and re-read.
I posted on
page 3 that there are two things consumers can do:
quote:
use an app or website such as GasBuddy to make educated decision when filling up. Use the brand filters to display the cheapest "Top Tier" gasoline or diesel. It's not worth driving out of your way for a penny a gallon, but I'm currently seeing $0.20 per gallon difference between top tiers in my area and occasionally I see $0.30 per gallon spread.
if you really have a strong opinion of gasoline prices being higher or lower than current future prices you can make an investment since it is a commodity traded on NYMEX. Going long means you're betting on it being higher and going short means you're betting on it being lower.
Now, I'm adding a 3rd thing: The news thrives on hysteria, don't feed the hysteria further.
Instead, have higher-level value added discussions on how nationally we have adequate supplies of gasoline and adequate crude oil to make more gasoline. The crude oil is very expensive right now. Feeding the hysteria can create runs on gas stations so while the gas station is out of gas the distribution terminal, tank farm, refinery, etc. have plenty. That's a shitty situation neither the consumer nor the industry want, but both the mainstream and new media love it.
DISCLOSURES:
My employer sells gasoline, and I'm still not in that portion of the business. However, I am still prohibited from buying or selling refined product, crude oil, or natural gas futures.
I'm still not an investment advisor.
Ego is the anesthesia that deadens the pain of stupidity
DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer. June 07, 2022, 11:38 AM
monoblokquote:
I was at an oil & gas facility on September 11th. While I was there, they received 4.2 million gallons of gasoline. On the drive home, there were lines at gas stations, gas stations running out, people raising prices (some prosecuted for violating price gouging laws), etc. It wasn't a supply issue, it was a fear issue and a "gotta do something" issue.
Maybe in your neck of the woods. Around my place the two neighborhood stations are still operating like normal before the price spikes. But the nearby Costco is slammed, though that's only because they're about 50 cents a gallon less than the typical independent stations around here.
As of yesterday, the Costco price for regular unleaded was $4.939.
-MG