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Nzoner's Game Room>Gasoline over $4 coming to a pump near you because this thread is ass
Donger 08:40 AM 04-23-2007
http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

[Reply]
Valiant 11:47 AM 08-03-2015
Originally Posted by DaneMcCloud:
I can tell you were it doesn't go: Streets, sidewalks, street signs, traffic cops, elementary, middle and high school public education.
I assume your politicians are doing the same here in missouri.

All extra money generated from smokes, alcohol, gambling and gas are supposed to go to into those funds. And they do, but then they take out the money originally marked for it and put it into the general fund. Then they can give that out to anyone else they want.

Education and roads will never get more than what they are slated in the budget. And the public does not care enough and allows it.
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Amnorix 11:48 AM 08-03-2015
Originally Posted by Donger:
We are already drilling and producing. We are now the largest producer in the world. Unfortunately we don't have enough refining capacity to turn all this lovely, new crude into gasoline and other refined products.
And building a new refinery is all but impossible in the current regulatory environment.
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Donger 11:50 AM 08-03-2015
Originally Posted by Amnorix:
And building a new refinery is all but impossible in the current regulatory environment.
That, and the energy companies can and have just expanded existing refineries to deal with demand. The ROI also sucks even if they could build new.
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Amnorix 11:50 AM 08-03-2015
Originally Posted by Donger:
Wow. Now down 3.29% at $45.57

Are the markets even factoring in a potential deal with Iran yet? If one gets worked out, that adds hundreds of thousands of barrels into the worldwide supply per day!
[Reply]
Donger 11:50 AM 08-03-2015
Originally Posted by Amnorix:
Are the markets even factoring in a potential deal with Iran yet? If one gets worked out, that adds hundreds of thousands of barrels into the worldwide supply per day!
Perhaps a little, but I wouldn't say very much yet.
[Reply]
DaneMcCloud 11:51 AM 08-03-2015
Originally Posted by Donger:
Keep in mind that it takes weeks for such a drop to hit the pumps.
Okay, cool. But it did drop from $3.83 to $3.59 in one week at Costco, so I think I'm safe to wait until the end of this week to fill up because it will be even less, correct?
[Reply]
Amnorix 11:51 AM 08-03-2015
Originally Posted by Donger:
That, and the energy companies can and have just expanded existing refineries to deal with demand. The ROI also sucks even if they could build new.

Yes, all true.
[Reply]
Donger 11:52 AM 08-03-2015
Originally Posted by DaneMcCloud:
Okay, cool. But it did drop from $3.83 to $3.59 in one week at Costco, so I think I'm safe to wait until the end of this week to fill up because it will be even less, correct?
Sure, I'd say you're safe. As long as I don't make a few phone calls.
[Reply]
DaneMcCloud 11:52 AM 08-03-2015
Originally Posted by Donger:
Perhaps a little, but I wouldn't say very much yet.
Would Iran's oil even make much of a difference to America citizens because of the refinery issue you've cited?
[Reply]
DaneMcCloud 11:52 AM 08-03-2015
Originally Posted by Donger:
Sure, I'd say you're safe. As long as I don't make a few phone calls.
:-)

Oh shit, that's great
[Reply]
Amnorix 11:54 AM 08-03-2015
Originally Posted by DaneMcCloud:
Would Iran's oil even make much of a difference to America citizens because of the refinery issue you've cited?

It would. Stop thinking of gas prices as a local thing, and start thinking of it as a global thing.

The worldwide oil market is probably the largest, most complex market of any commodity or item in the world. But it is WORLDWIDE, and highly integrated.

We're pretty much at the point now where supertankers heading for, say, London, get re-routed to New York mid-trip because a computer somewhere says so. That's an oversimplification to some degree, but the market is highly integrated.
[Reply]
Donger 11:55 AM 08-03-2015
Originally Posted by DaneMcCloud:
Would Iran's oil even make much of a difference to America citizens because of the refinery issue you've cited?
Sure it would but not really because of refining. It adds to the global supply of crude. I haven't looked at the numbers in years, but the key for crude is spare supply and capacity. Back in the mid-2000s (I think it was), the GLOBAL spare capacity was something like 1 million barrels. So, if something happened (hurricane, war, etc.) that removed that extra supply, the market would understandably flip out.

I'll have to look it up now...
[Reply]
DaneMcCloud 12:00 PM 08-03-2015
Originally Posted by Amnorix:
It would. Stop thinking of gas prices as a local thing, and start thinking of it as a global thing.

The worldwide oil market is probably the largest, most complex market of any commodity or item in the world. But it is WORLDWIDE, and highly integrated.

We're pretty much at the point now where supertankers heading for, say, London, get re-routed to New York mid-trip because a computer somewhere says so. That's an oversimplification to some degree, but the market is highly integrated.
Thanks!
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DaneMcCloud 12:00 PM 08-03-2015
Originally Posted by Donger:
Sure it would but not really because of refining. It adds to the global supply of crude. I haven't looked at the numbers in years, but the key for crude is spare supply and capacity. Back in the mid-2000s (I think it was), the GLOBAL spare capacity was something like 1 million barrels. So, if something happened (hurricane, war, etc.) that removed that extra supply, the market would understandably flip out.

I'll have to look it up now...
Thanks!
[Reply]
Donger 02:25 PM 08-03-2015
Closed at $45.17, down almost 4%
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