Move over OPEC, America is the new king of oil


#1

So much winning…


#2

One wonders how long this is expected to last.


#3

Instead of exporting, I think we should be stockpiling.


#4

I don’t know the industry but that seems impractical. I live on the East Coast. When there is a refinery or pipeline problem we start running out of gas pretty quick. That means the service station tanks are out as are the huge tanks at tank farms. I think we use so much we need a steady supply and stockpiling wouldn’t amount to much. But again I’m not expert and may be wrong.


#5

Then why are my gas prices so high?


#6

Yes a steady supply to us and not them. If you don’t have stock piles along the East Coast when another Hurricane hits Texas or Louisiana…


#7

We don’t have stockpiles. The stockpile is the tank farm and my gas tanks. I always keep my tank full when hurricanes might hit that region. When I hear of a problem with refineries I do the same. It is interesting because we’ve had some shortages recently where you could watch the shortage move up the East Coast.


#8

We should. Is that not in essence of the Protectionism Trump touts?


#9

Prices always go up in summer. Increased driving due to summer vacations and a change from winter formulation to summer formulation are largely to blame.


#10

I think it’s difficult to stockpile enough petroleum products to offset any major disruption in supply. I think the better answer is redundancy in sources. Normally, that means pipelines.


#11

Last year, gas prices during the summer were $2.30/gallon or so. I just paid $2.79 and it’s been as high as a little over $3. So, this isn’t summer pricing. This is a much higher price year over year. So much winning!


#12

are you talking about stockpiling crude oil or refined products like gasoline? If you are talking crude oil then it seems leaving it in the ground (a natural stockpile?) until you need it would be much cheaper then creating holding facilities with the capacity needed. If you are talking refined products like gas… gas goes “stale” eventually (something my brother in law refuses to understand and i am getting tired of repairing his lawn mower and weed wacker) and the cost of creating holding facilities i dont think would be cheap. It seems the best answer is to extract the oil and refine it to meet demand.


#13

Might be a local situation. Gasoline prices here are from $2.36 to $2.57.

I do think they’re up a bit from last summer, though. On the low end, they were two cents lower. More on the high end this year.


#14

This site gives you national averages: http://then.gasbuddy.com/Retail_Price_Chart.aspx. From it, it looks like national averages are up about the same as what I said (15-20% year over year). So much winning I can’t stand or afford it!


#15

The Canadian gas prices on the chart you cited really are high. With all the oil sands in Alberta, one wonders why they would be $5.00/gallon or more. Taxes maybe?


#16

You didn’t go electric already, shame on you!


#17

You can find different charts. I suppose I am winning so much I’ll be in the poor house soon.


#18

I’d like to at some point. I did buy a newer used car recently where I get close to 39 mph on the highway, so that is helping mitigate the Trump gas price increases.


#19

That’s a shame. What’s wrong with academia that they can’t pay you a living wage?


#20

I don’t know if they standardized it, but Canadá sells by the empirical gallon. Or is it by liter?


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