Price Check in the Gas and Diesel Aisle...

#651
Any increases in output will be just theatrics as Sauds really do not have any capacity left ,Saudis have for decades been overstating their capacity and Oil reserves ,historicaly they always claimed they could pump up to 12mil bpd but in practice never managed to demonstrate that and any increase in output was very short lived and took loots of creative accounting to make it seem so.

''The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 300bn barrels – nearly 40%.''


''Saudi Arabia, the world’s largest oil exporter, more than doubled its imports of Russian fuel between April-June, to help power stations meet the summer cooling demand and free up the kingdom’s crude for export, Reuters reported on Friday.''

www.reuters.com

Exclusive: Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation

Saudi Arabia, the world's largest oil exporter, more than doubled the amount of Russian fuel oil it imported in the second quarter to feed power stations to meet summer cooling demand and free up the kingdom’s own crude for export, data showed and traders said.
www.reuters.com www.reuters.com
 
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#652
Mr.BR said:
www.reuters.com

Exclusive: Saudi Arabia doubles second-quarter Russian fuel oil imports for power generation

Saudi Arabia, the world's largest oil exporter, more than doubled the amount of Russian fuel oil it imported in the second quarter to feed power stations to meet summer cooling demand and free up the kingdom’s own crude for export, data showed and traders said.
www.reuters.com www.reuters.com
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anyone but FJB knows that the Saudi's are buying Russian oil, mixing it with theirs, and reselling it all on the market.
Fk'n dumb ass Dems. Open up the American energy sector and bring down the price is the best way to screw Russia. Dems can't force their new world order on everyone until they force rationing books on the USA (for your benefit of course)
buying oil at inflated prices from Communist regimes isn't good for America.
 
#654
GreenGO Juan said:
Saudi Royals are highly educated. They go to the same Ivey league schools as anyone else. If it makes economic sense, and they can profit they will.

Saudi Aarmaco made 39.5 billion q1 profits in 2022.
Click to expand...
If you ever dealt with Arabs or other folk ME , overstating and boasting about shit is a national sport in ME ,everyone is also knows everything but really nothing. I don't think they needed Ivey league for that.

Overstating and bulshiting also serves to bolster their position both in OPEC and in US , while they like to talk 12mio bpd , they are realy 8.5mio bdp producer at best
 
#655
Mr.BR said:
If you ever dealt with Arabs or other folk ME , overstating and boasting about shit is a national sport in ME ,everyone is also knows everything but really nothing. I don't think they needed Ivey league for that.

Overstating and bulshiting also serves to bolster their position both in OPEC and in US , while they like to talk 12mio bpd , they are realy 8.5mio bdp producer at best
Click to expand...
They are 1/3 of opec’s production. They do hold significant influence, more than anyone else in the group.

They are 10million bpd+ capable.

1A13F35A-2880-494A-B27C-A7173D3708CD.jpeg

Notice the dates of the massive changes. They correlate to Covid bs and Joe being elected. Saudis are producing near max, too much $ not to in this market.
 
#656
While they might pump more , the reality is the rise in their domestic consumption grew about the same as their supposed increase in extraction over past two decades.
So its quite likely any output boost will be fueled by Russian Oil for domestic consumption.

Meanwhile Brandon was humiliated

On Friday Biden's flight to Riyadh was less dramatic than the humiliation of Canossa but still significant. He was greeted at the airport by only a minor prince. When president Trump had first arrived in Riyadh he had been greeted by the Saudi king.
At their first meeting crown prince Mohammad bin Salman had visibly fun with the humiliation of Biden.
The next day, when the other rulers of the Golf Cooperation Council arrived, MbS was at the airport and greeted everyone in person.

Humiliating the U.S. president like this has won MbS a lot of new prestige in the Gulf region and beyond.

As for more oil ... none will be coming. The Saudis will stick to the current OPEC+ agreement that limits the output of its member states. When the agreement ends later this years the Saudis may increase their output but analysts doubt that they can currently produce much more than they already do. Way more likely is that the recessions in Europe and the U.S. will soon decrease the demand for oil and that prices at the pump will fall. That then could induce OPEC+ to prolong its agreement.
 
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#661
Diesel . . $- 6. 39 Gal. today, lowest price local . 100-$ got my 1/2 tank .. went out that station and splurged like a high-rolling Big spender-$ . on way home . Put my foot to the Floor Board and watched the black smoke Roll ...LOL
.
 
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#669
rlarsen462 said:
I don't see a collapse down to the $50-60 range happening even with the recession/depression. It's going to move around $100 for the next year+ at least IMO.
Click to expand...
Exponentially, the more forceful the push towards "Go Green" gets, the higher the price of oil will go. Nukes, coal, oil, fire wood, and natural gas will all increase in price. When they can make a jumbo jet fly on batteries I may change my opinion.
 
#671
LOL... The world certainly stepped into that "Bear Trap". Maybe a new refinery will get built with these profits.... ;)
oilprice.com

Top U.S. Refiners Set For 652% Surge In Profits | OilPrice.com

Amid soaring gasoline prices in the second quarter, the eight biggest independent U.S. refiners are set to report later this month a huge 652% sequential jump in their average earnings per share
oilprice.com oilprice.com
www.wsj.com

High Gas Prices Have Fuel Makers Raking In Cash

Valero Energy, Marathon Petroleum and Phillips 66 are set to collectively bring in about $14 billion in cash from operations this quarter, analysts estimate.
www.wsj.com www.wsj.com
 
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#677
Hobo Hilton said:
"They" would like to level it off at $5 / gallon +/-...... Allow that to become the "New Norm".... Nice profits for the company and the consumer will say "The price is down"..... The fuel surcharges will be trickling down to the consumer...
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raise the price to 6 dollars.. drop it to 5.. people celebrate in the price drop. uggg
 
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#683
If the average American, driving the average car in America fills up at the average price per gallon after burning one tank per week....
The cost is $100.00.....
That is crimping budgets and limiting their purchases at Walmart, Dollar Tree and the rest of the discount stores.
Domino 4.jpg
 
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#684
Hobo Hilton said:
If the average American, driving the average car in America fills up at the average price per gallon after burning one tank per week....
The cost is $100.00.....
That is crimping budgets and limiting their purchases at Walmart, Dollar Tree and the rest of the discount stores.
View attachment 7919946
Click to expand...
Yup, I'd like to see the Government's avg miles. Gov's figures (it only costing you an extra 30 bucks a month) is BS...
I'm with you Hobo, costing an extra 100 dollars a week at least.
 
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#685
The handwriting is on the wall:

Oil companies will operate the aging refineries without upgrades and minimal maintenance. The term in the industry is RTF (Run to Failure). American will become dependent on importing the finished petroleum products (gasoline, diesel, plastics, etc). Suddenly there will be an awakening that America must refine oil on it's home turf. Oil companies robbed Americans, raped and pillaged, bought back stock and share holders profited.
At that time, oil officials will tell congress that they have no money to build new refineries. Congress will pass several more multi-billion dollar hand outs to the oil companies to build some refineries..... History repeating
Unfortunately there will not be enough craftsmen left that are capable of building a refinery. Those are "Dirty Jobs". Green card workers from third world countries will be imported to build the refineries and the craftsmanship will be at third world levels....
 
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#686
babyguppy said:
Yup, I'd like to see the Government's avg miles. Gov's figures (it only costing you an extra 30 bucks a month) is BS...
I'm with you Hobo, costing an extra 100 dollars a week at least.
Click to expand...
And there is where the American worker is entering the "squeeze chute"....
Some options are:
Find a well paying job close to home.
Relocate closer to where the well paying jobsite is located. Rents are sky high and scraping up first / last / security is impossible.
Move back to Grandma's basement. Eat top Ramen from Walmart. Park car, get a bicycle.
Live in car that is parked in parking lot at work.
Move to the homeless tent city near work.
Get a junk RV and live in it in the Walmart parking lot.
The possibilities are endless. Few contribute to getting America out of this recession.
 
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#687
Hobo Hilton said:
And there is where the American worker is entering the "squeeze chute"....
Some options are:
Find a well paying job close to home.
Relocate closer to where the well paying jobsite is located. Rents are sky high and scraping up first / last / security is impossible.
Move back to Grandma's basement. Eat top Ramen from Walmart. Park car, get a bicycle.
Live in car that is parked in parking lot at work.
Move to the homeless tent city near work.
Get a junk RV and live in it in the Walmart parking lot.
The possibilities are endless. Few contribute to getting America out of this recession.
Click to expand...
You forgot 'Pimp yourself out to a fat, ugly, rich, woman.'
 
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#697
4.299 at Sam’s for 87. Still 80-some dollars to fill up the Jeep. I got rid of the 6.2 Trail Boss and ordered a 6.2 Camaro. It’s nice having four jobs. I’m not celebrating shit. Let’s see what happens after the effects of another strategic reserve sale. FJB
 
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#698
We have a WAWA (like a 7/11) that shut down their store for a rehab but kept their gas pumps open. They lowered their gas prices by 35 cents (regular unleaded) on the day the store closed. Why?????
 
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