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Old 09-15-2016, 12:24 PM   #81 (permalink)
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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


Quote:
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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Old 09-16-2016, 12:21 PM   #82 (permalink)
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Any of you east coast guys seen prices going up after the pipe line issue?


East Coast faces gas shortages, price hikes after pipeline leak | Money - WYFF Home
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Old 09-19-2016, 04:00 PM   #83 (permalink)
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Apparently some stations have actually been running out.
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Old 12-15-2016, 12:33 PM   #84 (permalink)
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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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Old 12-17-2016, 02:49 PM   #85 (permalink)
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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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Old 12-22-2016, 04:10 PM   #86 (permalink)
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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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Old 12-22-2016, 04:48 PM   #87 (permalink)
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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,
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Old 12-22-2016, 04:49 PM   #88 (permalink)
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Quote:
Originally Posted by MetroMPG View Post
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.
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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Old 12-22-2016, 05:08 PM   #89 (permalink)
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Quote:
Originally Posted by steddie View Post
and you think your fuel is expensive.
Oh, I definitely don't think fuel in the US is expensive!
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Old 12-22-2016, 05:09 PM   #90 (permalink)
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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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