Oil prices finally falling

[booondocker]

After irrational exuberance in the oil speculation department oil is now 83 a barrel and falling. Maybe we can afford to go someone this summer.

Break out da boats!

[whitehorse]

Too bad gas prices aren't falling in accordance!....notice how it goes up on speculation but has a hard time going down when the oil price actually drops!

[mspease]

Good point whitehorse! Oil prices are down about 20% but gas is only down 5-10%.

[Cat600]

Good point whitehorse! Oil prices are down about 20% but gas is only down 5-10%.

That's how they condition you for higher prices. Next summer gas will be above $4/gallon and we'll just be use to it, and bitching about $5.

[Administrator]

Or...maybe...just maybe...

Crude stocks are at 20 year highs and nearing ALL TIME HIGHS and Gasoline stocks are at 5 year lows and dropping rapidly.

There is more to low gas prices than low crude prices.

-John

[rmk4ever]

Or...maybe...just maybe...

Crude stocks are at 20 year highs and nearing ALL TIME HIGHS and Gasoline stocks are at 5 year lows and dropping rapidly.

There is more to low gas prices than low crude prices.

-John

Yup! Election yr!

[dcsnomo]

Or...maybe...just maybe...

Crude stocks are at 20 year highs and nearing ALL TIME HIGHS and Gasoline stocks are at 5 year lows and dropping rapidly.

There is more to low gas prices than low crude prices.


-John

I'm thinkin' oh, I dunno...maybe they should make more gas?!

[Administrator]

I'm thinkin' oh, I dunno...maybe they should make more gas?!

Yup. I'm not 100% sure of this, but I seem to remember some stink being raised a few years ago about the government enacting some very strict rules with regards to new refineries and thus none or not enough were going to be built to keep up with demands.

Plus, Europe's economy is deep in the crapper and so their thirst for crude is not what is typically is and that is partly the cause for the rise in crude stocks.

-John

[snowdancer]

Just be glad you don't live out on the west coast! They are really getting hit with big prices-over 4.30 and up per gallon. I read somewhere that there refineries are down for maintenance, so it's getting shipped into them from afar. That may be why our prices aren't dropping like we think they should. One thing is for sure though, as long as they keep gouging the consumer with these high energy costs, the general economy is NEVER going to rebound. Tourism will not recover, and the only part of Pure Michigan that I will get to see is this crappy county that we are stuck in!

[booondocker]

Yup. I'm not 100% sure of this, but I seem to remember some stink being raised a few years ago about the government enacting some very strict rules with regards to new refineries and thus none or not enough were going to be built to keep up with demands.

Plus, Europe's economy is deep in the crapper and so their thirst for crude is not what is typically is and that is partly the cause for the rise in crude stocks.

-John

Hummm....seems I read a few months ago that the refineries were EXPORTING gasoline out of the country via shipping. How does that one enter into the mix of crude refinery production shortages???

If they can get higher prices for the stuff by shipping to other countries, it seems that this alone would put pressure to keep prices high even if they are getting plenty of crude domestically. Shipping refined products out of the country would keep supplies short wouldn't they?

[russholio]

Bottom line is, they're going to find one excuse or another to keep gouging us and continue their sky-high profits. Instability in the Middle East (as if there ever were stability), break in a pipeline, fire on a drilling rig, natural disaster, aging refineries can't keep up with demand, the list goes on, blah blah blah. I'd rather they just tell it like it is -- that they're screwing us and there's nothing we can do about it, so we might as well enjoy it.

[booondocker]

(Taken from USA Today... February 2012)

For the first time since 1949, the United States exported more gasoline, heating oil and diesel fuel last year than it imported, the Energy Department reported today. Bloomberg writes that to offset weak U.S. demand, refiners exported 439,000 barrels a day more than were imported the year before. In 2010, daily imports averaged 269,000 barrels, according to the Petroleum Supply Monthly report.
Imports of crude oil and related products fell 11% last year, reaching a level not seen since 1995.
News of record gasoline exports comes as the pump price rose today for the 22nd straight day ($3.78 a gallon average) and the Energy Department reported separately that gasoline inventories fell last week while crude oil inventories and imports rose.

Full article here--> http://content.usatoday.com/communit...ed-last-year/1

Just another way to keep the squeeze on the price at the pump!

[dcsnomo]

Can you imagine driving a tanker of gas across the ocean? Yikes, I wouldn't even allow the crew to fart!

[Administrator]

I guess another reason why lower crude price does not automatically equal lower gasoline prices.

I'm not any happier about high gasoline prices than anyone else, but it strikes me as humorous that some will rant and rave about avoiding imports, but then seem to complain when certain American companies ARE exporting more than importing.

-John

[Administrator]

Can you imagine driving a tanker of gas across the ocean? Yikes, I wouldn't even allow the crew to fart!

Actually, without oxygen, gasoline will not burn. So I would imagine they ship it in the absence of oxygen somehow. It would be the loading part that would seem to be complicated to me.

-John

[cwl611]

Why is gas in Marquette 20 to 25 cents a gallon more than Escanaba, Menominee, Manistique and not to mention Baraga. KBIC wants to build a new station in Marquette next to Menards like the Pines in Baraga and the local gas stgation people are protesting it to the Marquette Township board this week. I say bring them in quick.

[dcsnomo]

Why is gas in Marquette 20 to 25 cents a gallon more than Escanaba, Menominee, Manistique and not to mention Baraga. KBIC wants to build a new station in Marquette next to Menards like the Pines in Baraga and the local gas stgation people are protesting it to the Marquette Township board this week. I say bring them in quick.

Market forces.

Why are motel rooms in Fish Creek more expensive than Sturgeon Bay? Because that's what the market will bear.

[cwl611]

sham on us for accepting that. almost worth driving to Escanaba to fill up

[cwl611]

market forces or price fixing. Strange how they all change their prices at about the same time

[booondocker]

World pricing....when the oil companies can refine fuel and sell it for a much higher price outside the country, then you understand why they are exporting gasoline rather than selling it into the markets here. It keeps the prices up domestically, and they receive much higher prices abroad. Win win for the oil companies, but comes at a price to Americans.

As long as Asia and Europe have higher prices for fuels than we do, we will experience "high prices"....in the long run, we are at the lows of gasoline prices of our life time. We will look back on these prices like some of us do remembering the prices of the 1960-70's....which are long gone.

As long as the market for this stuff stays strong outside the country, then we will all suffer and pay higher prices.

Sadly this is no laughing matter for those who todder along on the brink of poverty....each tank of gas to get to work costs more of their incomes and shrinks any ability to spend on descretionary things such as boating and sledding and vacationing. So those industries will either adapt, or die.

As long as they export fuel...we will all pay higher prices.

[snowdancer]

Well this is just great! They jumped the price of gas here in Kalamazoo 25 cents a gallon today- went from 3.54 right on up to 3.79- hope somebody's happy somewhere-cuz we sure AIN'T!! Oil is only 84 a barrel, what's the deal?

[cwl611]

link to TV 6 news story about Marquette Twp meeting reference Indian gas station. Lot of good coments about the story.
http://www.uppermichiganssource.com/...aspx?id=762468

[Mattarsc]

When I was a simple clerk at a gas station living the good life of 1.75 12 bottles, the owners of gas station would stop in periodically at night, and if Joe Doaks gas station raised their price .05 then by god we raised our price .05 and if gas dropped .05 well we got to it the next day or right before closing. It has absolutely NOTHING to do with what we paid for that truckload of gas. Never thought much of it then when gas was 1.58 but now it kind of burns me. :-) Bring on KBIC. The other rumor I heard about that though is the quality of gas. Which remains to be tested but I am for the competition if anything to make up my own mind and keep buying gas from local stations if the quality isn't there. (I think it will be)

[jr37]

I guess the drop is over, gas in Wausau went up 6 cents last night. Funny it takes forever to drop, but just talk of oil going up and the price of gas jumps right now.

[snowdancer]

yeah- our gas made it all the way back down to 3.69 sunday night-guess it was more than someone could stand- come monday morning, WHAM!- 3.89. I think somebody, somewhere is just pulling numbers out of a hat- I'm bout ready to go find em and YANK it out of their darn hand!!!