I'm 50 and can remember sitting in my dad's Gremlin waiting for 3+ hrs to get gas in Miami, in the summer time, with the car off. For a 3 yr old, that might as well be torture. What should've been easy trips to the gas station and then the grocery store were all day events, sweating our asses off in the car. I remember him and my mom getting into arguments with other people over who's turn it was to turn into the gas station. At one point, my dad had to draw down on a guy for threatening to beat my mother down.
OPEC is a damned criminal organization, a cartel that needs to be dismantled alongside the City of London's influence over commodities pricing.
There is absolutely NO REASON WHATSOEVER that we should be paying more than .99¢/gal for 93 Octane anywhere in the U.S. Even Hawaii, Cali, Oregon, Washington State, etc should be at or below $1 USD/gal of 93 Octane.
The taxes and regulations are b.s. The allowance of foreign influencers to determine what WE pay is b.s. It's all b.s.
Besides the BS taxes added to price of a gallon of gas, fracked oil is more expensive to extract and refine. Drillers must obtain a minimum price for that oil to even stay in operation. Larger and older existing operations can survive on prices of around $30/barrel. But newer operations that have a lot of up front expenditure have to have around $60-$65 to remain solvent. Startups its even more. Not long ago when the prices got too low many of these smaller operators were forced to pack it in. That was during Trump's first term. Then there are the refinery costs which also are not cheap these days. Upgrades and building new refineries is a huge capital investment. Most of our old refineries are not even set up to refine fracked oil.
I agree that many of the BS regulations are only adding to the cost of doing business. That is what caused several CA refineries to go offline and forced CA to import gas. Ridiculous. CA gas in the Bay Area had already hit $7/gallon before the Iraq action even started because of Newscum's bone headed green agenda. I do think however, that at the very least during times like this that the taxes on gasoline need to be temporarily suspended. That would help a little.
Oh my, I remember those days. I remember my mom complaining about 25 cent gas. She had a tuna boat Cadillac that cost almost $5 to fill up. During the embargo I remember they were pumping oil into old wells up on signal hill near Long Beach. So much for oil shortages. There was the odd and even days to get gas in CA. It didn't matter for me because I had bought a car from my cousin and it had OR plates on it. I could get gas on any day. Out of state plates were exempt. I took my sweet time switching my car over to CA registration - at least not until the odd/even deal was finished.
The embargo started while Nixon was in the WH and he signed the bill to lower maximum highway speed to 55mph. Nixon was also in office when the whole odd/even gas line mess started that was adopted on a state and local level. CA and OR were two of the first. It was the seventies version of the toilet paper hoarding frenzy.
How is it going in Venezuela these days with the new people in charge of the government? I cannot find much information about that now that Iran is center-stage. I know Maduro and his defected generals are testifying against the Democrats, but I don't see much news about how things are doing in that country.
Hmmmmmm, supply and demand slap people in the head, hard. Lots of supply means the price will drop. But it will tempt the deep state to blow up refineries.
I think this is how President Trump will lower our gasoline prices.
Hearing about Venezuela and all the oil they 'HAVE' always makes me laugh. All propaganda. Yes, Venezuela has 300+ billion in the ground, but only produces ~800k bpd. They don't have the infrastructure to reach what's down there, much less the refining capacity. Even if they could reach that oil (Bitumen - imagine peanut butter with oil in it), they don't have the tech to get it out efficiently. Can't bring it up easily like light and heavy crude. US produces 21 million bpd, Saudi Arabia 12 million bpd, Russia 10 million bpd and Canada 5-6 million bpd.
The reason that Venezuela isn’t reaching their potential in drilling is because they kicked the US out and lost that access to tech improvement as well as brain power. Now imagine if Venezuela resumed that prior relationship with US oil companies. Sure, their shitty oil would have to be refined to a greater extent than other companies oil, but it could be done
If ever Venezuela builds the infrastructure and refineries to process that pain in the ass oil, much of the world will probably be on fusion and using much less oil than today. Is it possible Venezuela gets to that bitumen? Yes. Is it probable? No.
Bonnie, your prior comment is 100% spot on. When the U.S. and British Companies left Venezuela the technology was still there but the ability to service that equipment was lost. As years went by the equipment was in disrepair and not efficient. The U.S. Citizens are being “gas”lit to believe that Venezuela is important to oil exports but they are not… in the future they could be but not now. Published materials have Venezuela exporting approximately 900,000 barrels per day. In comparison the U.S. exports 4.5mm per day not counting our daily consumption. Venezuela primarily produces Heavy Crude that is difficult to refine.
Big deal moving from OPEC. They are also working around TSOH. Might take some more time refining but still huge progress the MSM ignores and pushes the sky is falling and Trump is failing. Everybody keeping each other up to speed on these matters is so critical to staying positive during these times !
Who else remembers gas at $0.25? Then OPEC happened along with Iranian “revolution”. Arab oil embargo, gas lines, etc. Thanks Jimmy.
I'm 50 and can remember sitting in my dad's Gremlin waiting for 3+ hrs to get gas in Miami, in the summer time, with the car off. For a 3 yr old, that might as well be torture. What should've been easy trips to the gas station and then the grocery store were all day events, sweating our asses off in the car. I remember him and my mom getting into arguments with other people over who's turn it was to turn into the gas station. At one point, my dad had to draw down on a guy for threatening to beat my mother down.
OPEC is a damned criminal organization, a cartel that needs to be dismantled alongside the City of London's influence over commodities pricing.
There is absolutely NO REASON WHATSOEVER that we should be paying more than .99¢/gal for 93 Octane anywhere in the U.S. Even Hawaii, Cali, Oregon, Washington State, etc should be at or below $1 USD/gal of 93 Octane.
The taxes and regulations are b.s. The allowance of foreign influencers to determine what WE pay is b.s. It's all b.s.
Besides the BS taxes added to price of a gallon of gas, fracked oil is more expensive to extract and refine. Drillers must obtain a minimum price for that oil to even stay in operation. Larger and older existing operations can survive on prices of around $30/barrel. But newer operations that have a lot of up front expenditure have to have around $60-$65 to remain solvent. Startups its even more. Not long ago when the prices got too low many of these smaller operators were forced to pack it in. That was during Trump's first term. Then there are the refinery costs which also are not cheap these days. Upgrades and building new refineries is a huge capital investment. Most of our old refineries are not even set up to refine fracked oil.
I agree that many of the BS regulations are only adding to the cost of doing business. That is what caused several CA refineries to go offline and forced CA to import gas. Ridiculous. CA gas in the Bay Area had already hit $7/gallon before the Iraq action even started because of Newscum's bone headed green agenda. I do think however, that at the very least during times like this that the taxes on gasoline need to be temporarily suspended. That would help a little.
I remember, sometimes even 23 cents a gallon. 1960's
Oh my, I remember those days. I remember my mom complaining about 25 cent gas. She had a tuna boat Cadillac that cost almost $5 to fill up. During the embargo I remember they were pumping oil into old wells up on signal hill near Long Beach. So much for oil shortages. There was the odd and even days to get gas in CA. It didn't matter for me because I had bought a car from my cousin and it had OR plates on it. I could get gas on any day. Out of state plates were exempt. I took my sweet time switching my car over to CA registration - at least not until the odd/even deal was finished.
The embargo started while Nixon was in the WH and he signed the bill to lower maximum highway speed to 55mph. Nixon was also in office when the whole odd/even gas line mess started that was adopted on a state and local level. CA and OR were two of the first. It was the seventies version of the toilet paper hoarding frenzy.
How is it going in Venezuela these days with the new people in charge of the government? I cannot find much information about that now that Iran is center-stage. I know Maduro and his defected generals are testifying against the Democrats, but I don't see much news about how things are doing in that country.
yea same here
Hmmmmmm, supply and demand slap people in the head, hard. Lots of supply means the price will drop. But it will tempt the deep state to blow up refineries.
I think this is how President Trump will lower our gasoline prices.
Iran is being isolated via multiple avenues.
Hurry up. Gas is $5 in Indiana today.
Hearing about Venezuela and all the oil they 'HAVE' always makes me laugh. All propaganda. Yes, Venezuela has 300+ billion in the ground, but only produces ~800k bpd. They don't have the infrastructure to reach what's down there, much less the refining capacity. Even if they could reach that oil (Bitumen - imagine peanut butter with oil in it), they don't have the tech to get it out efficiently. Can't bring it up easily like light and heavy crude. US produces 21 million bpd, Saudi Arabia 12 million bpd, Russia 10 million bpd and Canada 5-6 million bpd.
The reason that Venezuela isn’t reaching their potential in drilling is because they kicked the US out and lost that access to tech improvement as well as brain power. Now imagine if Venezuela resumed that prior relationship with US oil companies. Sure, their shitty oil would have to be refined to a greater extent than other companies oil, but it could be done
If ever Venezuela builds the infrastructure and refineries to process that pain in the ass oil, much of the world will probably be on fusion and using much less oil than today. Is it possible Venezuela gets to that bitumen? Yes. Is it probable? No.
There is a reason for the term “gas”lighting. We are all being gaslighted with propaganda and people need to wake up.
Um, ok. You seem to be using that term without explanation. Give specific examples of how the american people are being gaslit.
And please say what we need to awake TO. A solution to this problem would be welcome.
Bonnie, your prior comment is 100% spot on. When the U.S. and British Companies left Venezuela the technology was still there but the ability to service that equipment was lost. As years went by the equipment was in disrepair and not efficient. The U.S. Citizens are being “gas”lit to believe that Venezuela is important to oil exports but they are not… in the future they could be but not now. Published materials have Venezuela exporting approximately 900,000 barrels per day. In comparison the U.S. exports 4.5mm per day not counting our daily consumption. Venezuela primarily produces Heavy Crude that is difficult to refine.
Big deal moving from OPEC. They are also working around TSOH. Might take some more time refining but still huge progress the MSM ignores and pushes the sky is falling and Trump is failing. Everybody keeping each other up to speed on these matters is so critical to staying positive during these times !