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So, what do you make of these reports ?MSN
www.msn.com
Not totally sure. I'm trying to follow the incoming data points with this one as it is so critical to the world's economy. Im not inclined to think it is propaganda. When adding this to the cost of fertilizer, if neither improves in availability and cost, we are looking at supply side inflation that filters down to the food supply in a myriad of ways.So, what do you make of these reports ?
Could be an honest warning to get ready.
Could be propaganda... But the oil companies are rollin' in cash and don't need any more push.
Could be "supply chain" ripple effect that would only be seen on a regional basis. Enough product, just in the wrong place.
For me, I'll make sure to have enough diesel to get me through until the spring thaw.
You don't believe they will try to open up the oil fields in the US?
Your statement caused me to pause and refresh my memory:Not totally sure. I'm trying to follow the incoming data points with this one as it is so critical to the world's economy. Im not inclined to think it is propaganda. When adding this to the cost of fertilizer, if neither improves in availability and cost, we are looking at supply side inflation that filters down to the food supply in a myriad of ways.
This is what I am seeing as well. If all refined petroleum products run into a shortage at the same time we could see a serious congestion at the refineries. In 2020 there were tankers full of oil cruising around in the ocean with nowhere to go, now here we are.They'll make a bunch of noise like Drill Baby Drill but won't fix the refinery crunch.
Business won't build another refinery in the US without some sort of Federal subsidy or contract from the FED. Businesses are afraid of investing that much $$ just to get screwed.This is what I am seeing as well. If all refined petroleum products run into a shortage at the same time we could see a serious congestion at the refineries. In 2020 there were tankers full of oil cruising around in the ocean with nowhere to go, now here we are.
Blast from the past:
Today's refinery issue (high level):
American oil refineries shutter amid Biden's hostile fossil fuel policies, adding to pain at the pump: expert
LyondellBasell, the owner of one of the oldest refineries in Houston, became just the latest refinery to close amid rising gas prices.www.foxbusiness.com
“My personal view is there will never be another refinery built in the U.S.,” Chevron CEO Mike Wirth said in June as gas prices jumped.Lack of Growth in Petroleum Refinery Development Contributes to High Fuel Prices
The bottleneck in America’s refineries is among the foremost causes of high fuel prices, a phenomenon spurred in large part by federal policy.thetexan.news
The last new major petroleum refinery in the U.S. was constructed in 1976 in Garyville, Louisiana. Since then, additions have been made to numerous refineries, but each is a modest jump in the nation’s total refining capacity."
That is why I rely so much on Mother Nature and "The Law's of Nature".... Unfortunate I have to look at the outside world as a "jungle" but that is where society is evolving to.There's so much disinformation out there. It would seem that each will report whatever best suits them at the moment. That's why things are so screwed up. There's really no real information out there.
I'm waiting to see if BFC's predictions some true next month about the price of oil. 70's
If he's close, he's gong to become my new unofficial series 7 guy.
BigFatCock said on page 15,I’m looking for $75 by December to close everything out again.World wide demand destruction due to EV’s and people being broke AF.I'm still wondering if it'll creep along 85 - 90 with winter coming in and the war still lingering in Ukraine.
I think the oil analyst on the web screaming 120's was just trying to dump his contracts.
There are Billions of $$$ at work (Private and Government) to "stave off" the inevitable recession. Thousands of programs need to be de-funded and allowed to fall flat on their face. Our country has turned into a Metaverse.... Americans are enthralled with an IPhone and make believe worlds.It will depend on who controls the House and Senate. If the Demwits keep them, crude oil will be closer to $100/barrel. But I do see it getting very close to $75 regardless of who's in control.
WTI Crude • | 91.13 | +2.96 | +3.36% |
Brent Crude • | 97.44 | +2.77 | +2.93% |
you guys need to close down all your coal industry, then the price will go down... Joe told me so, he met the dude who invented insulin and the guy who invented the internet.$6.49 a Gallon in People's Republic of Pennsylvania today.
But there is no inflation...
Sirhr
"THE WORLD ACCORDING TO JOE"you guys need to close down all your coal industry, then the price will go down... Joe told me so, he met the dude who invented insulin and the guy who invented the internet.
WTI Crude • | 92.02 | +0.23 | +0.25% |
Brent Crude • | 97.92 | -0.65 | -0.66% |
WTI Crude • | 87.51 | -1.40 | -1.57% |
Brent Crude • | 93.85 | -1.51 | -1.58% |
My guess on Kerosene, it stores longer than Diesel. You have a Genset, you buy a big barrel of Kerosene. You can use it in your lamps or Genset, Truck if times are hard due to cost.View attachment 7995107
WTI Crude • 87.51 -1.40 -1.57% Brent Crude • 93.85 -1.51 -1.58%
North America’s Largest Refinery Restarts Units After Overhaul | OilPrice.com
The Port Arthur refinery is set to see fuel production climb as its owner restarts units after an overhaul that lasted more than a monthoilprice.com
WTI Crude • | 89.64 | +0.68 | +0.76% |
Brent Crude • | 96.73 | +0.74 | +0.77% |
Heating Oil ($/gallon) | NY Harbor | 4.35 | -2.7 |
Gulf Coast | 3.29 | -3.8 |
WTI Crude • | 86.79 | +0.92 | +1.07% |
Brent Crude • | 93.70 | +0.56 | +0.60% |
WTI Crude • | 84.09 | -1.50 | -1.75% |
Brent Crude • | 91.81 | -1.05 | -1.13% |
interesting, haven't seen diesel at any costco's around here (NOVA).Diesel, $4.65 at Costco in K.C. yesterday.......
Yep... Should my next 3/4 ton pickup be a gas burner ?interesting, haven't seen diesel at any costco's around here (NOVA).
lately diesel is a solid two friggin bucks above 87 gas, so in the $5.80 range.
They'll make a bunch of noise like Drill Baby Drill but won't fix the refinery crunch.
WTI Crude • | 78.70 | -2.94 | -3.60% |
Brent Crude • | 86.83 | -2.95 | -3.29% |
This seems......odd ?
European Refiners Now Have Too Much Oil | OilPrice.com
European refiners now seem to have more crude oil than they need, and the extra supply is now starting to weigh on crude pricesoilprice.com
You heard it here first from BFC ^Still short, and price target is still $75 per barrel before Christmas.
Besides, joe Brandon needs the political win of buying oil for the SPR at $72 per barrel.
hope you made money on that dip below 75
WTI Crude • | 80.61 | +2.41 | +3.08% |
Brent Crude • | 85.25 | +2.22 | +2.67% |