Gas Prices hit new Record Lows

[Topcat]

Looks like us west-coasters are the ones really getting screwed!
https://gasprices.aaa.com/state-gas-price-averages/

Well ya know, we gotta help out the Gruesome team.   

[HP2]

At the risk of turning this overly political, gas prices reached record highs with the last fossil fuel friendly administration prior to the great recession. Obviously  the recession drove prices way down until the recovery sent them to new record highs. After that, with the last fossil fuel unfriendly administration in the White House, prices dropped to the lowest point they had at been since 2000.  That administration also changed the rules to allow the US to become a net exporter of oil that it had never enjoyed previously. 

$3.00 +/- 15% a gallon, in the US, CA excepting, seems to be an equilibrium point where exploration and extraction is heathy enough to add significantly to employment in that sector with enough supply to keep prices from shooting up and keep our around the world competitors in check. 

[JH27N0B]

I recently ordered a Ram 2500 6.4L which is expected to arrive around Memorial Day.
My expert opinion is that gas prices will double by the time I get it. 

[Matt13]

At the risk of turning this overly political, gas prices reached record highs with the last fossil fuel friendly administration prior to the great recession. Obviously  the recession drove prices way down until the recovery sent them to new record highs. After that, with the last fossil fuel unfriendly administration in the White House, prices dropped to the lowest point they had at been since 2000.  That administration also changed the rules to allow the US to become a net exporter of oil that it had never enjoyed previously. 

$3.00 +/- 15% a gallon, in the US, CA excepting, seems to be an equilibrium point where exploration and extraction is heathy enough to add significantly to employment in that sector with enough supply to keep prices from shooting up and keep our around the world competitors in check.

I would wager that shutting down the Keystone pipeline and returning to dependance on foreign oil can not, in any way, help gas prices remain low. We were finally reaching fuel independence for the first time in a long while. Just my two cents but it only seems logical.

[torredcuda]

https://www.yahoo.com/now/why-gasoline-prices-rising-high-162200876.html

[HP2]

At the risk of turning this overly political, gas prices reached record highs with the last fossil fuel friendly administration prior to the great recession. Obviously  the recession drove prices way down until the recovery sent them to new record highs. After that, with the last fossil fuel unfriendly administration in the White House, prices dropped to the lowest point they had at been since 2000.  That administration also changed the rules to allow the US to become a net exporter of oil that it had never enjoyed previously. 

$3.00 +/- 15% a gallon, in the US, CA excepting, seems to be an equilibrium point where exploration and extraction is heathy enough to add significantly to employment in that sector with enough supply to keep prices from shooting up and keep our around the world competitors in check.

I would wager that shutting down the Keystone pipeline and returning to dependance on foreign oil can not, in any way, help gas prices remain low. We were finally reaching fuel independence for the first time in a long while. Just my two cents but it only seems logical.

Its important to understand that the Keystone pipeline is already in place and moving oil. The Keystone XL (phase 4 in the construction process) that is being cancelled was a large diameter bypass project that would shorten the existing run of the pipeline and increase volume.  The pipeline is not completely shutting down. Additionally, the 1000 or so jobs lost to shutting down Keystone XL construction are nothing compared to the tens of thousands of jobs in US fracking that were put out of work by Saudi, Russian, and Venezuelan overproduction to flood the market with cheap oil and punish US production.

We also are not returning to dependence on foreign oil. The oil created by US fracking and our changing of policy to allow exports drove global prices down from $160 a barrel in 2008 until things bottomed out in 2016 at $38 a barrel. An unfortunate side effect of this and foreign over production made oil so cheap that many US fracking companies that helped get it there had to shut down operations.  Prices have actually been steadily rising since early 2016 and were bouncing around in the $60-70 range until the pandemic hit and demand went into the toilet.  Demand was so low in 2020, prices dropped to the $20 range. Add in all the things in the link provided by torredcuda and yes, we are going to see a rapid escalation and another spike, but when values go up, so does production and it will drop prices and stabilize.  This is why I think $3 a gallon for gas is the equilibrium point where there is enough value for fracking to get back into production and our foreign competitors to slow down production enough to keep prices stable.

[Skid Row]

  Watch the price of food, and shipping of anything go up with it. (Inflation is coming)

[mopartaz]

https://www.macrotrends.net/1369/crude-oil-price-history-chart

[Matt13]

I should have been more specific. Yes, the Keystone Pipeline is running, but not the XL expansion. I would argue that OPEC and Russia decreasing production has had a major effect on prices. We have it within our means to be completely energy independent, but with the influence certain groups have on this administration, that's not going to happen anytime soon.

[RUNCHARGER]

Yeah: First thing your new guy did was shut down the new pipeline from Canada, I guess he prefers buying crude from countries that still stone their women or put the profits into arms to fight your country with. Don't really know why neighbors stay friendly after getting kicked in the teeth over and over like this.

[Matt13]

Yeah: First thing your new guy did was shut down the new pipeline from Canada, I guess he prefers buying crude from countries that still stone their women or put the profits into arms to fight your country with. Don't really know why neighbors stay friendly after getting kicked in the teeth over and over like this.

It does make you scratch your head. Trust me, there are many, many Americans not happy right now. On the plus side, guys here can now compete against women for sports scholarships!   

[7212Mopar]

Buy more oil stocks. The dividend alone is enough for gas money. Well may be depends on how much driving you do and how hard you step on the fun pedal. Chevron is 5% dividend on today's stock price.

[cudaragtop]

An Oregon Law Maker proposed a bill banning Diesel in some Oregon counties starting in 2024 and statewide by 2028...
Trucks, Trains, Farm Equipment, Fire Trucks, Fishing, Cargo, Navy and Coast Guard Vessels will not be able to fill up in Oregon...
Fill your tank with wind and sunshine I guess, Or fill up at the border and then use the one third rule. 1/3 of a tank to go where you are going, 1/3 to get back with 1/3 in reserve...

https://www.wildcoastcompass.com/oregon-lawmaker-proposes-outlawing-of-diesel-fuel-in-oregon/

[cudaragtop]

Energy... the higher the cost the more expensive everything else is.

Higher cost of Transportation, Heating, Cooling and Food are the things that will hit the poorest the hardest.
Felt by the middle class too but never as bad as those already having a difficult time. 
Higher food prices are already here. We have noticed our grocery bill climbing.

https://www.bloomberg.com/news/articles/2021-03-01/inflation-2021-malnutrition-and-hunger-fears-rise-as-food-prices-soar-globally

[RUNCHARGER]

I find it interesting that with todays vehicle emission levels that if the world had the same population as it did 20 years ago there would be no problem. No one mentions the swelling world's population (not driven by responsible N.A. families btw) that is the root cause of any problems. Most likely because there is less money to be made if the population remained stagnant. It's all a sham perpetuated by the puppet holders and they always make $$$$$