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Old 04-23-2007, 09:40 AM  
Donger Donger is offline
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Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

Last edited by Donger; 10-10-2014 at 02:43 PM..
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Old 11-10-2013, 01:14 PM   #4231
DaneMcCloud DaneMcCloud is offline
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Originally Posted by Donger View Post
Gasoline is "cheap" right now because crude is relatively low. ($94.35/barrel).

Crude has been dropping for a number of reasons:

1) Very strong supply, especially because of our increased domestic production

2) Things are cooling down in the Middle East (Syria, Iran and Egypt).

3) Weak demand. We are still using ~4% less gasoline than we were a few years ago.
I've also read it's because U.S. oil production is way up, which is also giving the US leverage in Iran.
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Old 11-10-2013, 01:14 PM   #4232
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Quote:
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Wouldn't oil be cheaper to drill in the U.S. ?

Importing oil from halfway around the globe who have to be much more expensive. I don't understand.
Not necessarily. The cost of production isn't level. For example, drilling a hole in Texas and having the crude spray out equates to less production costs compared to drilling through 5,000 feet of rock and soil in the Gulf of Mexico.
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Old 11-10-2013, 01:16 PM   #4233
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Originally Posted by DaneMcCloud View Post
I've also read it's because U.S. oil production is way up, which is also giving the US leverage in Iran.
Yes, see #1. Although we don't import oil from Iran.
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Old 11-10-2013, 01:16 PM   #4234
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Stupid Obama not building the keystone pipeline because of the enviroment.
I was reading where it causes much more polution to drive the oil over in trucks to deliver it from Canada. The liberals and commen sense do not go hand in hand.
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Old 11-10-2013, 01:17 PM   #4235
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Originally Posted by Donger View Post
Yes, see #1. Although we don't import oil from Iran.
Oops, my bad.

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Old 11-10-2013, 01:18 PM   #4236
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Originally Posted by Donger View Post
Not necessarily. The cost of production isn't level. For example, drilling a hole in Texas and having the crude spray out equates to less production costs compared to drilling through 5,000 feet of rock and soil in the Gulf of Mexico.

Wait, you said it is cheaper to drill in Texas right?

Then domestic oil should take off
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Old 11-10-2013, 01:26 PM   #4237
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Quote:
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Wait, you said it is cheaper to drill in Texas right?

Then domestic oil should take off
That was just an example. The cost of production depends on many factors, mostly how easy it is to get it to the surface. Where the field is located is another.
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Old 11-10-2013, 01:38 PM   #4238
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The U.S. shipping natural gas to other countries is going to be huge don't you think Donger?
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Old 11-10-2013, 01:51 PM   #4239
Ace Gunner Ace Gunner is offline
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Yes, see #1. Although we don't import oil from Iran.
not true. the DOD recently bought $1.5 billion from Iran & Iran is a supplier to OPEC, which supplies most US oil imports.
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Old 11-10-2013, 02:08 PM   #4240
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Quote:
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not true. the DOD recently bought $1.5 billion from Iran


Quote:
Originally Posted by Ace Gunner View Post
& Iran is a supplier to OPEC, which supplies most US oil imports.
Yes, Iran is part of OPEC. But it isn't like the OPEC members all put their crude into one big pot. We don't import Iranian crude, period.

And, no, we don't get most of our crude imports from OPEC.
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Old 11-10-2013, 02:09 PM   #4241
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Quote:
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The U.S. shipping natural gas to other countries is going to be huge don't you think Donger?
I don't know.
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Old 11-10-2013, 02:12 PM   #4242
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Quote:
Originally Posted by Fairplay View Post
Stupid Obama not building the keystone pipeline because of the enviroment.
I was reading where it causes much more polution to drive the oil over in trucks to deliver it from Canada. The liberals and commen sense do not go hand in hand.
As I understand it, there is now a lot of Canadian crude being shipped by rail.
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Old 11-10-2013, 02:27 PM   #4243
Fairplay Fairplay is offline
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As I understand it, there is now a lot of Canadian crude being shipped by rail.


That's true
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Old 11-10-2013, 02:36 PM   #4244
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Quote:
Originally Posted by Donger View Post
http://thecable.foreignpolicy.com/po...in_afghanistan

http://rt.com/news/iran-petrol-afghan-army-247/

Quote:
Originally Posted by Donger View Post

Yes, Iran is part of OPEC. But it isn't like the OPEC members all put their crude into one big pot. We don't import Iranian crude, period.

And, no, we don't get most of our crude imports from OPEC.
keep spreading the lies comrade.

for truth look here;

http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6
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Old 11-10-2013, 02:44 PM   #4245
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Oh, that. Yes, I was aware of that snafu. Do you happen to know what import means?

As to the EIA page, what do you think that shows?
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