Gas prices - OUCH!

[dodj]

US ambassador up here said last week that the US is not interested in accessing more Canadian oil. Seems so weird to me as they are looking to get more oil from places like Saudi, but....we're right next door! North America has the resources to be energy self sufficient.....but we don't want to be I guess?
You would think pricing could be more stable if we were in complete control of our supply?

[MEK-Dangerous]

US ambassador up here said last week that the US is not interested in accessing more Canadian oil. Seems so weird to me as they are looking to get more oil from places like Saudi, but....we're right next door! North America has the resources to be energy self sufficient.....but we don't want to be I guess?
You would think pricing could be more stable if we were in complete control of our supply?

I agree with what you said 100%. Someone should ask our current President why it was a good idea to cancel the pipeline from Canada his first day in office, and start relying on oil from the middle East again. 

[MKA]

US ambassador up here said last week that the US is not interested in accessing more Canadian oil. Seems so weird to me as they are looking to get more oil from places like Saudi, but....we're right next door! North America has the resources to be energy self sufficient.....but we don't want to be I guess?
You would think pricing could be more stable if we were in complete control of our supply?

I agree with what you said 100%. Someone should ask our current President why it was a good idea to cancel the pipeline from Canada his first day in office, and start relying on oil from the middle East again.

nonsense.  Do some research and read some of the earlier threads.  Ffs   

You all giving too much credit to your beloved or non beloved president which ever you decide to discuss.  Fall in line.  And repeat.  Facts. Eh who needs them.   Politicians. Why oh why do you love or believe any of them

Canadian oil going to save us.   Oh Canada why isn't your oil cheaper then?  Do tell.  If you ship to us and we ship it back does it get cheaper?   There isn't a pipeline in the world that produces oil.  it transports it.   Marginally impact price, yes.  Marginally.  But when you take the second or third largest oil producer offline that being Russia, the prices are going to pop.  That's the global economy.   By all means build it, seriously build it, but that's no where near the entirety of the problem.

Oh and Saudi's Arabia does it's own policy.  they aren't listening to Biden.  Quite the opposite. They and their undemocratic leadership looking out for themselves.  MBS and Putin sitting in a tree happy with each other.

https://www.forbes.com/sites/rrapier/2020/03/20/we-must-not-let-the-shale-industry-go-bankrupt/?sh=28b3ca0a5501

https://www.forbes.com/sites/rrapier/2021/03/06/who-is-to-blame-for-rising-gasoline-prices/?sh=2a6e5019329c

https://www.forbes.com/sites/rrapier/2021/09/26/revisiting-the-blame-for-high-gas-prices/?sh=262b108ee31e

Slava Ukraine.  If I have to pay 10 dollars a gallon to see Putin burn I am paying it.  That MF going to starve people to satisfy his Soviet Union childhood dreams.  On this Memorial Day.  When I think of my grand father dead in WW2, when I think of countries fighting the same bullshit wars over nationalist leaders and when I see those thermobaric warheads going off in the Ukraine countryside, I am so thankful for the unselfish who sacrificed EVERYTHING for our freedom and I am ashamed of all these dirty politicians that we elect who put party and power over We The People and can't do a dam thing that crosses party lines. It's a disgrace.

Build the pipelines.  Get the shale, and let's do Solar, Windfarms and Energy efficiency because the USA is the largest consumer of oil in the world and has a fraction of the population and no matter what we do our own oil producers need the price of gas to be $3-$4 dollars for the economics to work and the more exotic drilling isn't getting any cheaper. Quite the opposite.  There is only one way for the price of gas to go unless Saudi and Russia want otherwise and fuck them.  Have we learned nothing.

[dodj]

Oh Canada why isn't your oil cheaper then?  Do tell.

It WCS is significantly cheaper the  WTI.
On May 25th, 2022, WCS was $89
On the same day WTI was $102

There....I told.....lol

[Katfish]

We imported 7% of our oil from Russia, prices have increased 100%, what else has changed..........

[Dakota]

Another perspective....

https://www.bbc.com/news/business-61446317.amp

[chargerdon]

Another perspective....

https://www.bbc.com/news/business-61446317.amp

if anyone expects me to cry for the POOR oil companies as they make windfall profits because the demand will drop in the future...   then your sick...

[HP2]

US ambassador up here said last week that the US is not interested in accessing more Canadian oil. Seems so weird to me as they are looking to get more oil from places like Saudi, but....we're right next door! North America has the resources to be energy self sufficient.....but we don't want to be I guess?
You would think pricing could be more stable if we were in complete control of our supply?

I agree with what you said 100%. Someone should ask our current President why it was a good idea to cancel the pipeline from Canada his first day in office, and start relying on oil from the middle East again.

Just curious if you are aware that the cancelled pipeline was simply a rerouting of an existing pipeline?  The Keystone pipeline is in place and moving oil and has been since 2010.  It has had extension done to it in 2011, 2012, and 2016.  I'm sure you can recall who was president during this tenure.  In case you forgot, it was the same president that removed the American oil policy that did not allow oil exports that was created by certain well known, but tricky, president in the early 70s. The only thing that has become a partisan football that many conservative new networks like to throw around is the XL portion of the pipeline that is simply a rerouting project.

Additionally, the US has turned down accepting more of this oil because it is from the tar sands fields. It is some of the dirtiest oil in the world requiring considerably more refining than Brent crude. The vast majority of oil run through Keystone is being exported to places where there are fewer requirements around how clean it needs to be to be used.

[dodj]

Just curious if you are aware that the cancelled pipeline was simply a rerouting of an existing pipeline? 

So no increased oil flow with the cancelled pipeline? So why cancel it? If it's just a reroute, why do people demonstrate/complain about increasing oil volumes from the KeystoneXL?
None of my questions are pro/anti either American party. I don't care about USA politics-not my country. Just think N. America could be self sufficient with a little cooperation between the two countries.

[RusTy/SE]

These days I'm using non-ethanol from a local station in Montgomery and they see me once or twice a week; the first pic is from two weeks ago, the second from last week. I try not to go below half a tank whenever I top off.

As far as 10-15 precent ethanol, anywhere from $4.17 at the Wal-Marts to $4.29 at the local Citgo down the street from me.

[torredcuda]

Just curious if you are aware that the cancelled pipeline was simply a rerouting of an existing pipeline? 

So no increased oil flow with the cancelled pipeline? So why cancel it? If it's just a reroute, why do people demonstrate/complain about increasing oil volumes from the KeystoneXL?
None of my questions are pro/anti either American party. I don't care about USA politics-not my country. Just think N. America could be self sufficient with a little cooperation between the two countries.

It was a shortcut but would have also increaed capacity but most if not all is exported. 

https://www.nrdc.org/stories/what-keystone-pipeline#:~:text=It%20was%20expected%20to%20transport,pumps%20in%20the%20United%20States.

[MKA]

Oh Canada why isn't your oil cheaper then?  Do tell.

It WCS is significantly cheaper the  WTI.
On May 25th, 2022, WCS was $89
On the same day WTI was $102

There....I told.....lol

Lol, yes you did but I don't think 10 percent less is going to calm the masses. 

[MKA]

We imported 7% of our oil from Russia, prices have increased 100%, what else has changed..........

https://www.nytimes.com/explain/2022/03/09/business/gas-oil-russia-ukraine

Global market demand and supply.  When gas was below $3 a gallon it was primarily due to Saudi dumping on the market to bankrupt US shale producers who need consistent prices above $3 to turn a profit and justify investment for new wells.  They did a good job of that.  Search US drill counts and look for a by year chart of the counts.   The highest count was during the Obama years just before Saudi opened the tap which they can do since their oil doesn't have to be fracked.  Same with Russia.

In a balanced market you will never see prices below $3 and price will consistently go higher as the easy oil in the US doesn't exist anymore and each new well costs more than the prior.  Self sufficiency will take a balanced portfolio that includes oil, solar, wind, and energy efficiency.  More drilling by itself will not work.  Doing a combined approach has the added benefits of more jobs at home, not funding unfriendly undemocratic governments and being forward looking for future generations.   The politicians with a one way approach on both sides are all lying to you.  It is time we bring our manufacturing home and take advantage of our technology.   The next chip to fall against us will be China and that will be fugly.   Companies investing in China should look at Russia and take note, it won't be cheaper once you factor in they don't want half.  They want it all.

[HP_Cuda]

What baffles me is that we are at a precipice of major change. Just like when we transitioned from the horse and buggy to the automobile. We can either take on the challenge and figure out how to benefit from the change or we can play the "stick the head on the sand" game and end up with a less than desirable outcome. Make a plan and stick to it where you are not beholden on others. Use resources like a bridge to other alternative sources. This will get you to where you want to go. Embrace change.

I remember one of my Econ Professors telling me "We will never run out of Petroleum on Earth" he then proceeded to say that the amount of money to get the last drop of oil out of the ground would not be economical and hence no one would bother.

We are talking finite resources here folks. Resources don't last forever - never have and never will. What makes all the difference is how you react and embrace the change instead of trying to buck it. Some one else will figure it out if you do not.

[torredcuda]

I think most of us agree that we need new technology and power sources other than gas and oil and we need to keep investing  in them. What myself and many others disagree on is it being forced on us now before it is viable and at the same time trying to force out oil and gas power.