Gas prices are... um well, wait a minute

[Bob Kontak]

Originally Posted by Shaun @ Tru6

4. The Saudis can pump and ship oil to the U.S. cheaper than we can pump it (S or L can provide details)

Just a factoid.......Prudhoe Bay crude had lifting cost of $1 per barrel on 1.5 million barrels per day back in it's heyday and there was no pumping. Mind you, there were transportation costs to the west coast but the volume was insane.

What did Captain Hazelwood say to the first mate after the Exxon Valdez bottomed out? "I said Tanqueray on the rocks".

[Arizona_928]

Originally Posted by HobieMarty

17 bucks for a pack of cigarettes??? Geez, where in the world do cigarettes cost 17 bucks??? Round here, they are $9.46. What a deal!!!
Also, today I paid $2.80 a gallon for regular gas and that was with 6 cent a gallon discount.

Sent from my SM-S916U using Tapatalk

They tax the living hell out of cigarettes. That 10 dollar pack with 50% tax is that 15 bucks.

I know some folks that go to the rez to buy the cartons… i took an illicit economy course last year at the university that said it’s illegal to do so while being unfair to the economy to not pay taxes… biggest eye roll of my forking life… commies

[Sooner or later]

Crude prices continue to tank. West Texas Intermediate at $66.

I can buy regular at $2.55 or less.

Look out below!

[Evans, Marv]

Originally Posted by Sooner or later

Crude prices continue to tank. West Texas Intermediate at $66.

I can buy regular at $2.55 or less.

Look out below!

Well, we're so lucky to be able to pay a county average of $4.71 around here.

[cockerpunk]

Originally Posted by look 171

Election year ?

Originally Posted by cockerpunk

recent comments about halving energy costs has got to have the American oil companies PISSED (such a plan would drive them out of business). expect further drops in price before the election.

you herd it here first folks. when you promise to absolutly *decimate* the US oil industry by halving the cost at the pump, the industry is going to fight back and make sure you dont win.

[Sooner or later]

It has nothing to do with the election. It is about lower demand forecasts, particularly China.

https://oilprice.com/Energy/Oil-Prices/Oil-Drops-45-Percent-Amid-Record-Bearish-Sentiment-from-Money-Managers.html

Oil Prices Drop 4.5% On Record-Bearish Sentiment from Money Managers

WTI crude futures fell 4.5% on Tuesday morning as hedge funds and money managers continued to sour on crude oil

Hedge funds and other money managers have turned the most bearish on crude ever since the CFTC started to publish information on market positioning, with Brent and WTI net longs totaling a mere 139,242 lots in the week ended September 3.

- As the oil market gathered in Singapore this week for the annual Appec conference, Trafigura head of oil trading Ben Luckock said oil would dip into the 60s soon, depressed by weakening demand in China.

- US investment Citi lowered its 2025 price forecast to a mere 60 per barrel, prompting a general downward revision of outlooks as Morgan Stanley and the Bank of America both slashed its expectations to $75 per barrel.

- Crude oil futures could potentially flip into contango over the upcoming period as the ICE Brent 36-month spread between the November 2024 and November 2027 contracts shrank to a mere $2 per barrel, down from $9 per barrel a month ago.

OPEC Lowers Its Demand Growth Outlook

[wdfifteen]

Originally Posted by Sooner or later

Crude prices continue to tank. West Texas Intermediate at $66.

Look out below!

Tying our economy to such a volatile (literally and price wise) commodity is a recipe for disaster. I don't care so much about the environment & global warming, but we do we need to electrify for the sake of economic stability. Becoming energy independent means not depending on oil for everything.

[gacook]

Ok. Where ya gonna get the electricity from?

[cockerpunk]

Originally Posted by gacook

Ok. Where ya gonna get the electricity from?

this is like, super easy to google: https://www.eia.gov/energyexplained/electricity/electricity-in-the-us.php

broken down by state: https://www.ecowatch.com/electricity/energy-sources-by-state

for example, here in MN, we are right around 30% renewable and rising. with another 20% being nuclear. only 50% of our power comes from fossil fuels, in a state with only like 1.5 months of summer.


you should update your talking points list from 40 years ago.

[gacook]

Only 50%? Wow, so you guys would be completely screwed without fossil fuels! Thank you for proving my point so quickly, genius.

[cockerpunk]

Originally Posted by gacook

Only 50%? Wow, so you guys would be completely screwed without fossil fuels! Thank you for proving my point so quickly, genius.

what are talking about? you think you proved a point?

ho kay, have fun with that. might want to update your talking points to at least this century.

wind power generation is doubling every decade or so FYI: https://www.energy.gov/articles/us-department-energy-projects-strong-growth-us-wind-power-sector

iowa for example, 60% of their power is from wind, alone. not renewables, just wind.

[wdfifteen]

Originally Posted by gacook

Ok. Where ya gonna get the electricity from?

Distributed solar should be one source. I get most of mine from the solar panels on my barn. Nuclear is going to have to be a big part of the mix. There is a place for natural gas.
It’s useful , but I don’t like wind strictly from an aesthetic point of view.

[cockerpunk]

Originally Posted by wdfifteen

Distributed solar should be one source. I get most of mine from the solar panels on my barn. Nuclear is going to have to be a big part of the mix. There is a place for natural gas.
It’s useful , but I don’t like wind strictly from an aesthetic point of view.

its all about moving the percentages, we still use coal for god sakes.

the point is that over the last 20-30 years, the power generation landscape has changed dramatically in favor of renewables. the main reason we can't go faster, is just legacy infrastructure issues.

push fossil fuels down to below 25%, which is already nearly possible in some places, that aught to be pretty good.

[stevej37]

Reg down to $3.25 today.
Prem at $4.25

[Flat Six]

Originally Posted by cockerpunk

its all about moving the percentages, we still use coal for god sakes.

the point is that over the last 20-30 years, the power generation landscape has changed dramatically in favor of renewables. the main reason we can't go faster, is just legacy infrastructure issues.

push fossil fuels down to below 25%, which is already nearly possible in some places, that aught to be pretty good.

Actually, no; you're right we have legacy infrastructure problems (transmission & distribution). But the biggest hurdle vis renewables like solar and wind (hydro is a different story because it can be ramped up/down relatively quickly to match demand) is storage.

[gacook]

Originally Posted by wdfifteen

Distributed solar should be one source. I get most of mine from the solar panels on my barn. Nuclear is going to have to be a big part of the mix. There is a place for natural gas.
It’s useful , but I don’t like wind strictly from an aesthetic point of view.

Wind is the least effective (and efficient) source of power there is. Solar is WONDERFUL in some areas (like mine). I agree that nuclear is the answer but too many Americans are afraid of that answer.

Electric companies where I live have figured out how to make solar not all that good of an investment unless you go completely off grid. I put more energy back ON the grid monthly than I pull FROM the grid. My electric bill still averages $300/month, and they pay me about $20/month for the energy I give them.

[hcoles]

Originally Posted by Flat Six

Actually, no; you're right we have legacy infrastructure problems (transmission & distribution). But the biggest hurdle vis renewables like solar and wind (hydro is a different story because it can be ramped up/down relatively quickly to match demand) is storage.

Speaking of storage.. I just watched a documentary about the huge storage project gone wrong in Australia. Connects two large lakes to be used for hydro storage.
The boring machine has been stuck for over a year.

[wdfifteen]

Originally Posted by gacook

My electric bill still averages $300/month, and they pay me about $20/month for the energy I give them.

Yeoww!! They are hosing you!

I get about 65% of my electricity from my solar panels. We pay $.09 for electricity from the grid and sell to them for $.02. It's not a great deal for us, but still our power bill last year was under $400 for the year.

Power companies are doing their best to keep renewable energy off the grid until they find a way to make a bigger profit selling it to us.

[Sooner or later]

You are actually paying more than $400 a year.

What is the opportunity cost?

How much did your solar array set you back? If that were to be invested/saved what would be the annual return?

I am sure it is a net positive even with loss of investment.

[cockerpunk]

Originally Posted by wdfifteen

Power companies are doing their best to keep renewable energy off the grid until they find a way to make a bigger profit selling it to us.

yup, the problem now is renewables are cheaper in lots of places and in lots of cases.

something something we shouldnt have a basic public service run for profit etc etc.