09-15-2016, 01:24 PM
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#81 (permalink)
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Batman Junior
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It's been a bad couple of years for people trying to make a living in the oil business.
Crude awakening: At least 58 U.S. oil companies have gone bankrupt this year
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At least 58 producers have fled to bankruptcy court this year, representing about $50.4 billion in debt, far above last year’s $17.4 billion debt accumulated from the 44 companies that filed for bankruptcies. And despite an uptick in oil prices from a 12-year low of $26 a barrel in January, more bankruptcies are expected to arrive this year.
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09-16-2016, 01:21 PM
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#82 (permalink)
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In Lean Burn Mode
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Pressure Gradient Force
The Positive Side of the Number Line
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09-19-2016, 05:00 PM
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#83 (permalink)
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Batman Junior
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Apparently some stations have actually been running out.
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12-15-2016, 01:33 PM
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#84 (permalink)
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Batman Junior
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$50 oil is back: Gas Prices Rise for 14 Consecutive Days
So, OPEC (mostly S.A.) says they're cutting production at the start of next month. A dozen non-OPEC countries have agreed to do the same (however Canada & the U.S. are absent).
All with the intent of bringing supply in line with demand to stabilize prices. (U.S. oil current stockpiles are at a new record.)
Surprise (!) result: U.S. oil shoots above $50 a barrel.
US gas prices have gone up about 5% since then. This year's gas price graph does not look at all like the typical pattern of a slide from the summer peak down to late winter:
Source: AAA Gas Prices
But will OPEC actually meet its self-imposed cut targets? I'm betting... nope! And if it does, will U.S. and Canadian "expensive" oil production take up the production slack anyway? I'm betting... yup! |
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12-17-2016, 03:49 PM
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#85 (permalink)
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lurker's apprentice
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US/Canadian "expensive" facilities were hard hit by the long price slump. I suspect it will take some time, and a longish period of increased per-barrel prices, to get them back online.
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12-22-2016, 05:10 PM
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#86 (permalink)
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Batman Junior
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The US average gasoline price is now a touch higher than it was back in July.
For December, this is unusual, to say the least. This has been a weird year.
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12-22-2016, 05:48 PM
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#87 (permalink)
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EcoModding Lurker
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Petrol/Gas prices in New Zealand.
The price of fuel for petrol/gas cars here in New Zealand is on the rise again and is now $1.849 per liter that is exactly $7 dollars per US gallon, and you think your fuel is expensive.
Greetings,
Eddie.
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12-22-2016, 05:49 PM
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#88 (permalink)
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ScanGauge <3
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Quote:
Originally Posted by MetroMPG
The US average gasoline price is now a touch higher than it was back in July.
For December, this is unusual, to say the least. This has been a weird year.
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You can say that again. Checking through my logs, I don't think I paid more than $2.20/gallon (US) all year, including a fill a couple weeks ago.
Only here can I wish for this situation to change without fearing tar and feathers and pitchforks. 
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Best tank (so far): 32 MPG
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12-22-2016, 06:08 PM
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#89 (permalink)
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Batman Junior
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Quote:
Originally Posted by steddie
and you think your fuel is expensive.
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Oh, I definitely don't think fuel in the US is expensive! |
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12-22-2016, 06:09 PM
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#90 (permalink)
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EcoModding Lurker
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Thanx for your reply ThermionicScott,
We are getting ripped off thats for sure and those Oil barrons drive around in golden and platinum cars, just because they can.
I myselve have a cheap running car, 19/km per liter, that is 44.7/mpg US, so that helps to make my fuel bill a bit more acceptable.
Eddie.
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