fuel prices

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Regular unlead in my little town was $2.47 on Sunday. Probably gone up since then. It is about ten cents cheaper in the bigger towns. I use to buy it from Larry just to help keep a station open close to home but it is getting harder and harder to do that. He says that the stations in town are selling gas for the same price that it costs him.
Dave
 
Is there anyone out there that would say No or Heck no? Come on, Is this for real?Wait til it hits 3 bucks, then ask again...
 
We pay over $3.00 a gallon here - in Alberta - we have oil, what is the matter with this picture?? :shock: :roll: :shock:

Prices are supposed to go up here even more this summer. Will I still drive? Of course but I will complain more and eat cheaper food! :lol: :p
 
Canadian Oil......

I dont know a thing about Canadian Oil, but I heard that it is extremely shallow up there.... almost to the surface........... is this true?

Also told that the reason it is not extensively "harvested" is due to the fact that it is in such sandy soil that it is difficult to obtain.....
 
NEW YORK--Oil prices soared to fresh all-time highs Friday, underpinned by worries about US refining capacity and building on gains caused by a study raising the possibility of 100-dollar per barrel oil.

New York's main contract, light sweet crude for delivery in May, jumped to an all-time closing high of 57.25 dollars a barrel, up 1.87 from Thursday's close.



Prices hit an all-time intraday high of 57.70 dollars in afternoon trade on the New York Mercantile Exchange.

London's Brent North Sea crude oil for delivery in May surged 2.22 dollars to a new record high of 56.51 dollars a barrel, topping the March 17 record of 56.15 dollars.

Oil prices, underpinned in recent days by worries about a lack of US refining capacity and a Goldman Sachs study that forecast crude could top 100 dollars per barrel, got a further lift from news of a shutdown at Venezuela's Paraguana refinery, the largest in the world, due to electrical problems.

"The market is particularly sensitive to supply disruptions," said Marshall Steeves, analyst at Refco. But he added that the rally is also being pumped up by "very strong speculation" that amplifies price movements.

A jump in gasoline prices, which hit a record 1.731 dollars a gallon in futures trading, also put pressure on the overall market.

"The market is being pushed up by very, very strong [refined] product markets," Barclays Capital analyst Kevin Norrish said. "There are real concerns about product availability, that's what is underpinning the strength of the market at the moment."

Despite the fact that the United States has rising levels of crude stockpiles, there are fears that refineries will be unable to turn it into gasoline quickly enough ahead of the country's so-called "summer driving season" that begins next month.

"The lack of refining capacities is ultimately the bottom line," Norrish added.
Highlighting the refinery problems, analysts at the Sucden brokerage firm noted that US oil major ChevronTexaco was forced to shut the crude distillation unit at its 210,000-barrels per day Pembroke refinery in Wales last Friday.

"The refinery is a major exporter of gasoline to the United States," they said.

Jason Schenker at Wachovia Securities said the high profits in gasoline bring in speculators who can cash in from buying crude oil.

But he said another factor was the Goldman Sachs report on Thursday, which raised the possibility of a "superspike" in crude oil to as high as 105 dollars a barrel.

Schenker dismissed the projection as unlikely, saying, "It is possible to reach 105 dollars a barrel, but in my opinion it would take a cataclysmic terrorism attack on infrastructure to get there. I don't think we will trend up to 105."

As a result, Schenker said, the rally could be vulnerable to a correction.

"If this rally is driven by a published article [from Goldman Sachs] and some irrational exuberance we might anticipation some downside next week," he said.

Oil prices were being supported also by supply worries ahead of a likely strike by energy workers in Nigeria, Africa's biggest exporter of crude.

Nigerian oil unions said Wednesday that it would take a miracle to avert a nationwide strike as talks with government and energy majors on working conditions broke down. A three-day "warning strike" was due to begin April 11.

World oil prices have now more than doubled since early 2002.

Adjusted for inflation, however, they remain far below levels reached in the wake of the 1979 Iranian revolution when prices surged to upwards of 80 dollars a barrel in today's money.
 
Take the taxes out of fuel and the regulations off of the industry and the problem will be solved. Three of the main reasons fuel is high: 1) Government, 2) Government, and 3) Government.

Craig-TX
 
Craig-TX":1sfrihyf said:
Take the taxes out of fuel and the regulations off of the industry and the problem will be solved. Three of the main reasons fuel is high: 1) Government, 2) Government, and 3) Government.

Craig-TX

Very wise man. The American public is ignorant of what has been happening to the industry since the seventies. Now we are paying for all the government intervention.
 
C & C Land & Catt":wkkmp7og said:
how bout them fuel prices?

Sure will make fieldwork pencil differently. That extra pass that was worth the money last year might not be profitable this year. Soybean farmers will have rust to deal with and will probably be making extra passes with the sprayers.
Current prices will add about $2.00 per round trip to sale barn to sell my calves, $1.00 for a trip to Walmart or the farm store so it won't kill me there, but it will be adding to the cost of everything.
 
I agree with you Crowderfarms.

Kansas - What you say is true about it being shallow. What do you mean by "extensive" there is a lot of oil coming out now but technology is improving, and harvesting is supposed to quadruple in the next few years.

A few Alberta oil facts (2003):
Alberta's oil sands contain over 1.6 trillion barrels of bitumen, of which 175 billion barrels are currently considered recoverable. In 2003, production from conventional oil, oil sands sources, and pentanes was over 1.6 million barrels/day.

In 2003 Alberta accounted for:

66% of Canada's conventional oil
81% of Canada's natural gas
100% of Canada's bitumen and synthetic crude oil
In 2003, Alberta's oil sales were:

62% to the United States of America
24% within Alberta
14% to the rest of Canada
Alberta also holds an 5% share of the U.S. crude oil market

So with all this oil I am still wondering why I pay so much!! :roll:
 
Thank you, Canadians, for our oil. IMO, gasoline prices are simply a reflection of the greed in the oil industry. There's no shortage of oil. How much gasoline we can refine in the US has nothing to do with the price of a barrel of oil. We have the same refining capability as we did this time last year and gas is over a dollar higher. I couldn't believe Alan Greenspan told us that the price of gasoline will have no effect on the economy! My quarterly bill for trash pickup had a $15 surcharge for fuel. Last quarter it was "only" a $6 surcharge. Groceries are higher, trips to the doctor will cost more, fertilizer, diesel is higher here than regular gasoline and the guy in charge of our banking system says it won't affect the economy. That's scary.
 
I kinda hate to post this cause I may be in minority here.I don't like the high fuel prices,but in our area these high prices mean we have alot of people working.As long the fuel prices are up the Oilfield is up.And that means many people in my family have jobs,money goes into our schools and onto our town's economy.We live on a farm and ranch but the Oilfield feed my family for years.
 
Frankie":38e6mrge said:
Thank you, Canadians, for our oil. IMO, gasoline prices are simply a reflection of the greed in the oil industry. There's no shortage of oil. How much gasoline we can refine in the US has nothing to do with the price of a barrel of oil. We have the same refining capability as we did this time last year and gas is over a dollar higher. I couldn't believe Alan Greenspan told us that the price of gasoline will have no effect on the economy! My quarterly bill for trash pickup had a $15 surcharge for fuel. Last quarter it was "only" a $6 surcharge. Groceries are higher, trips to the doctor will cost more, fertilizer, diesel is higher here than regular gasoline and the guy in charge of our banking system says it won't affect the economy. That's scary.

This is where I have to throw the BS flag Frankie, you might know epd's , but you know squat about refining in the US. It's simple supply and demand economics .
It is real simple there is 12 million barrels a day of refining capacity today virtually the same as in the late 1970's the industry has not grown, but actually downsized due to regulations. Demand has continued to grow and is still growing. If you don't believe that ask the people of Eldorada Ak, Neodasha Ks,(sp) Casper Wy, Sugar Creek Mo. what happened to their refineries to just name a few.
 
Campground Cattle":fwj5pb51 said:
Frankie":fwj5pb51 said:
Thank you, Canadians, for our oil. IMO, gasoline prices are simply a reflection of the greed in the oil industry. There's no shortage of oil. How much gasoline we can refine in the US has nothing to do with the price of a barrel of oil. We have the same refining capability as we did this time last year and gas is over a dollar higher. I couldn't believe Alan Greenspan told us that the price of gasoline will have no effect on the economy! My quarterly bill for trash pickup had a $15 surcharge for fuel. Last quarter it was "only" a $6 surcharge. Groceries are higher, trips to the doctor will cost more, fertilizer, diesel is higher here than regular gasoline and the guy in charge of our banking system says it won't affect the economy. That's scary.

This is where I have to throw the BS flag Frankie, you might know epd's , but you know squat about refining in the US. It's simple supply and demand economics .
It is real simple there is 12 million barrels a day of refining capacity today virtually the same as in the late 1970's the industry has not grown, but actually downsized due to regulations. Demand has continued to grow and is still growing. If you don't believe that ask the people of Eldorada Ak, Neodasha Ks, Casper Wy, Sugar Creek Mo. what happened to their refineries to just name a few.

Throw that flag all you want, CC. We have a closed refinery not far from where I live and it's an environmental disaster waiting to happen. Thank goodness, an oil company has stepped forward and offered to pay for cleaning it up. In fact, there are dozens of places around here that the oil companies have footed the bill to clean up. But tell me why gasoline prices are $1+ higher this year than last? Demand hasn't gone up that much. And what does refining ability have to do with oil prices? There is plenty of oil; even the Saudis say that. I'm more than willing to learn, so, please, tell educate me as to why gasoline prices are $1+ compared to last year?
 
Frankie":3uaa5m9f said:
Campground Cattle":3uaa5m9f said:
Frankie":3uaa5m9f said:
Thank you, Canadians, for our oil. IMO, gasoline prices are simply a reflection of the greed in the oil industry. There's no shortage of oil. How much gasoline we can refine in the US has nothing to do with the price of a barrel of oil. We have the same refining capability as we did this time last year and gas is over a dollar higher. I couldn't believe Alan Greenspan told us that the price of gasoline will have no effect on the economy! My quarterly bill for trash pickup had a $15 surcharge for fuel. Last quarter it was "only" a $6 surcharge. Groceries are higher, trips to the doctor will cost more, fertilizer, diesel is higher here than regular gasoline and the guy in charge of our banking system says it won't affect the economy. That's scary.

This is where I have to throw the BS flag Frankie, you might know epd's , but you know squat about refining in the US. It's simple supply and demand economics .
It is real simple there is 12 million barrels a day of refining capacity today virtually the same as in the late 1970's the industry has not grown, but actually downsized due to regulations. Demand has continued to grow and is still growing. If you don't believe that ask the people of Eldorada Ak, Neodasha Ks, Casper Wy, Sugar Creek Mo. what happened to their refineries to just name a few.


Throw that flag all you want, CC. We have a closed refinery not far from where I live and it's an environmental disaster waiting to happen. Thank goodness, an oil company has stepped forward and offered to pay for cleaning it up. In fact, there are dozens of places around here that the oil companies have footed the bill to clean up. But tell me why gasoline prices are $1+ higher this year than last? Demand hasn't gone up that much. And what does refining ability have to do with oil prices? There is plenty of oil; even the Saudis say that. I'm more than willing to learn, so, please, tell educate me as to why gasoline prices are $1+ compared to last year?



Oil is a commodities Market and the traders are driving prices to the moon through speculation. Also several major events occured in the US industry in the last year that pulled refined product reserves to an all time low. New Epa regulations on clean fuels are kicking in also. Today diesel has a spec of 500 ppm sulphur in 06 it has to go to 15 ppm sulphur. This will cut production capacity in my refinery by 40,000 barrels per day that is 1,680,000 gallons of diesel a day that will no longer be on the market. That is what regulations are doing to supplies, refiner's are not building new units to increase capacity due to all the regulations . Know its time to pay the piper we have to get demand below 12MM BPD or increase refinig capacity we can not have our cake and eat it to any longer.
NEW YORK--Oil prices soared to fresh all-time highs Friday, underpinned by worries about US refining capacity and building on gains caused by a study raising the possibility of 100-dollar per barrel oil.

New York's main contract, light sweet crude for delivery in May, jumped to an all-time closing high of 57.25 dollars a barrel, up 1.87 from Thursday's close.



Prices hit an all-time intraday high of 57.70 dollars in afternoon trade on the New York Mercantile Exchange.

London's Brent North Sea crude oil for delivery in May surged 2.22 dollars to a new record high of 56.51 dollars a barrel, topping the March 17 record of 56.15 dollars.

Oil prices, underpinned in recent days by worries about a lack of US refining capacity and a Goldman Sachs study that forecast crude could top 100 dollars per barrel, got a further lift from news of a shutdown at Venezuela's Paraguana refinery, the largest in the world, due to electrical problems.

"The market is particularly sensitive to supply disruptions," said Marshall Steeves, analyst at Refco. But he added that the rally is also being pumped up by "very strong speculation" that amplifies price movements.

A jump in gasoline prices, which hit a record 1.731 dollars a gallon in futures trading, also put pressure on the overall market.

"The market is being pushed up by very, very strong [refined] product markets," Barclays Capital analyst Kevin Norrish said. "There are real concerns about product availability, that's what is underpinning the strength of the market at the moment."

Despite the fact that the United States has rising levels of crude stockpiles, there are fears that refineries will be unable to turn it into gasoline quickly enough ahead of the country's so-called "summer driving season" that begins next month.

"The lack of refining capacities is ultimately the bottom line," Norrish added.
Highlighting the refinery problems, analysts at the Sucden brokerage firm noted that US oil major ChevronTexaco was forced to shut the crude distillation unit at its 210,000-barrels per day Pembroke refinery in Wales last Friday.

"The refinery is a major exporter of gasoline to the United States," they said.

Jason Schenker at Wachovia Securities said the high profits in gasoline bring in speculators who can cash in from buying crude oil.

But he said another factor was the Goldman Sachs report on Thursday, which raised the possibility of a "superspike" in crude oil to as high as 105 dollars a barrel.

Schenker dismissed the projection as unlikely, saying, "It is possible to reach 105 dollars a barrel, but in my opinion it would take a cataclysmic terrorism attack on infrastructure to get there. I don't think we will trend up to 105."

As a result, Schenker said, the rally could be vulnerable to a correction.

"If this rally is driven by a published article [from Goldman Sachs] and some irrational exuberance we might anticipation some downside next week," he said.

Oil prices were being supported also by supply worries ahead of a likely strike by energy workers in Nigeria, Africa's biggest exporter of crude.

Nigerian oil unions said Wednesday that it would take a miracle to avert a nationwide strike as talks with government and energy majors on working conditions broke down. A three-day "warning strike" was due to begin April 11.

World oil prices have now more than doubled since early 2002.

Adjusted for inflation, however, they remain far below levels reached in the wake of the 1979 Iranian revolution when prices surged to upwards of 80 dollars a barrel in today's money.
 
I am a future farmer and currently a major in Economics. My professor told the class about oppurtunity cost and fuel and according to him the fuel has to be well over 7 dollars before Americans will not purchase gas anymore. It has a while before it hits that high I hope. :roll:
 

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