Oil Prices Now

[SpaceBus]

Without a regime change I agree, but how does that relate to investment in battery infrastructure?

There will be large voids in European and US markets for energy that was supplied by Russia. New oil leases are unlikely and the more logical investment would be for renewables and storage.

 

[ABMax24]

$115/barrel

 

[Medic21]

Depending on if sanctions against Russia also include the importation of oil or gas. 2021 stats show the US importing 750,000 bpd of oil and oil products from Russia. That's a significant hole to fill in that scenario.

That’s only .004% of daily use in the US.

 

[EbS-P]

It's happening now but it takes time to build serious infrastructure so we won't see the results for 2-3 yrs. Also, major battery recycling plants are breaking ground and getting built.

Ford Model 3 would love to sell all the preorders they have for the F150 lightning and MachE. How long did it take Tesla to just get Berlin permitted? Really it took Tesla 5 years to figure out mass production. And it wasn’t easy.

A prolonged period of high oil prices should be utilized in the longer term to provide incentive to reduce consumption. OPEC needs higher prices as consumption declines. I feeling longer term implications. I don’t feel this is a blip. The risk was to great to expand US capacity in the last 24 months. I think smaller companies might see some potential here but larger ones I think will keep to their longer term plans of diversification away from fossil fuels. Just want to point out that hurricane season is around the corner and one big gulf storm can really impact gasoline prices (Katerina 2005).

I don’t see how we don’t ban Russian oil and gas. Leverage against Putin and the current administration for poor policy decisions that have led to higher inflation. It’s a win win for one side.

The real question is what is the price ceiling. Haven’t looked at futures markets. I think 150$ mark is possible but unlikely. I think OPEC will be motivated to increase production and really who wouldn’t at that price. This very well could be the last oil boom. Who doesn’t want to miss out on that last chance.

The line hasn’t been drawn as far has what economic steps will or won’t be taken. Militaristically sure. This is a new page of history from many angles and I see China taking amazingly detailed notes.

Evan

 

[stoveliker]

Yes. I have the impression that China is quiet as they are studying for Taiwan...

 

[ABMax24]

That’s only .004% of daily use in the US.

I think you mean 4%

 

[begreen]

Interesting to note that gasoline prices are now about the same as they were during 2008.

 

[Falcon9h]

Interesting to note the censorship here....

 

[EbS-P]

Interesting to note that gasoline prices are now about the same as they were during 2008.

I had to read up as to why they were so high. Not one big factor just several smaller things constricted supply add in a dose of speculation. But look how fast and hard it crashed.

 

[stoveliker]

Interesting to note the censorship here....

There are some rules here, just like there are some rules if you visit another person's home.

Read up on them; it'll make for a nicer community.

 

[Medic21]

I think you mean 4%

800,000 barrrels of crude a day from Russia. Out of 6.6 BILLION barrels of crude used daily in the US.

 

[stoveliker]

I believe we use about 21 million barrels per day?

 

[Mt Bob]

Walmart, generally the cheapest fuel around, have been getting slammed by buyers. Just recently one in AZ and one in FL got pumped dry in a matter of hours. No fuel till the next day. I guess people are using gas-buddy a lot more.

 

[Medic21]

I believe we use about 21 million barrels per day?

Of fuel, that doesn’t count or include everything. A low portion of the crude is for fuel.

 

[ABMax24]

Of fuel, that doesn’t count or include everything. A low portion of the crude is for fuel.

That figure comes from here: 6.6 billion barrels is the annual figure for consumption, not daily.

Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA)

www.eia.gov

 

[begreen]

Interesting to note the censorship here....

Posts in violation of forum rules will be deleted. Political opinions and rants belong elsewhere.

 

[ABMax24]

$125/ barrel

 

[johneh]

Gas hit 183.9 here this morning
Don't want to know what that is per Imp Gallon
Should not have checked 8.36 per imp gallon
think I will go back to bed now Ouch

 

[stoveliker]

$4.40 per gallon here.

 

[tlc1976]

Was 3.89 Sunday then 4.29 this morning. Didn’t look going home. Must be so many people trying to find the best price that GasBuddy has been down for several hours at least.

Most I ever paid was about 4.50 during the 2010-2011 winter. Looks like that is going to be bypassed soon. Just glad I’m not having to do those 700 mile weekends for kid visitation anymore. She just turned 21 this weekend and is doing great on her own.

 

[Rusty18]

Gasoline is $4.09/ gallon around here. Has went up 10 or 20 cents every day for the last week.

 

[Ashful]

Maybe you just need WD-40, as seen on hearth.com! 😂

 

[fbelec]

the massachusetts secretary of state just said on the news that this is price gouging. this gas today was purchased 6 months ago. anybody have proof? does what he said hold water.

 

[EbS-P]

the massachusetts secretary of state just said on the news that this is price gouging. this gas today was purchased 6 months ago. anybody have proof? does what he said hold water.

No it’s like gold or currency. It sucks but it’s value changed overnight and you can sell it at its new value. Or change it mid day usually not what they do but I’m sure they could switch pumps off for a few minutes and change the price. Sounds like someone is already campaigning to me.

 

[stoveliker]

Or simply talking about something he doesn't know much about how it works...