Economy U.S. Motor Gasoline Consumption Forecasted To Approach Record Levels This Summer

Discussion in 'The War Room' started by JonesBones, Apr 22, 2019.

  1. JonesBones

    JonesBones Excuse my contraflow

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    I've been telling you people to stop complaining about Global Warming, relax, and invest in oil. Oil ain't goin nowhere. Keep driving.

    Last week, the EIA provided its prediction for motor gasoline prices for the 2019 summer driving season. The good news for the consumer is that the EIA predicts that summer 2019 gasoline prices will be 3% lower than the summer of 2018. Most of you know that I love to talk about record-setting activities in the energy sector. Here is another one for you. The EIA forecasts U.S. motor gasoline consumption to approach record levels this summer. In addition, the EIA forecasts the U.S. to be a net exporter of total gasoline during the summer for the first time since 1960. In my opinion, this is significant. It sends a signal to the rest of the world that U.S. refiners can deliver low-cost gasoline. Of course, increased exports improve the trade deficit as well.

    https://seekingalpha.com/article/42...tion-forecasted-approach-record-levels-summer
     
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  2. TeTe

    TeTe Senior Moderator Staff Member Senior Moderator

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    Yeah, well, here in California they didn't get the memo; gas has gone up 68 cents a gallon on average over the past four weeks alone. Of course they blame refinery issues or some shit. Even if it does drop back down to $3.15 a gallon soon, they're going to add another five cent tax in July.

    But I'll keep doing my part adding to that record number by putting 15 gallons of premium in my tank each week regardless
     
  3. JonesBones

    JonesBones Excuse my contraflow

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    Oil has been on a run after being down for a while. Trump is also starting shit with Iran again so that is adding to it.

    This is what started the riots in France. Oil was actually cheap then, so the government raised the taxes. The citizens don't see a drop in gas prices no matter what oil is trading at.

    I think investing in oil is a good hedge against gas prices. You are paying more for gas but your oil stocks are going up too.
     
  4. PEB

    PEB Atomic Butt Drop Champ :)

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    Time to start singing like "Beginning to look a lot like Christmas"

    1. It's beginning to look a lot like 2008 everywhere you go.

    2 Higher gas prices all around no end in to be seen.

    3. You pay through the nose at 75 dollars per tank full.

    4 You can see all the anger all around as people demand action with 5 dollar a gallon milk an 4 dollar a loaf of bread.

    Repeat 1 through 4

    Last time we had these high prices what happened at 2008? Yeah never good for an administration no matter what party. I posted out about this in November of last year at 2.17 a gallon I predicted 3.45 by July. From the looks of it we could be ahead of my numbers. People thought I was crazy with cheap gas prices at the time. It's up over 30 percent since the beginning of the year.

    "
    Who's to blame for $4 gas
    Prices have surged over the past four years - and there's a bunch of reasons why.
    SHARE | RSS


    By Steve Hargreaves, CNNMoney.com staff writer
    Last Updated: May 22, 2008: 2:35 PM EDT

    America's Money: Gas crunch hits home
    The record-high price of gasoline is putting a strain on motorists - and spurring some to shift their habits. Here are their stories.
    View photos

    Soaring demand, limited supply and investor interest are behind a doubling of gas prices over the last four years.

    View results

    NEW YORK (CNNMoney.com) -- It's hard to imagine now, but in 1999 gasoline sold for 90 cents a gallon. How'd we get from there to $4 a gallon?

    There is no short answer - many things happened, and together they formed a chain of events from cheap gas to $100 tankfuls.

    https://money.cnn.com/2008/05/20/news/economy/gas_price_history/index.htm
     
  5. jamel

    jamel Brown Belt

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    They did it to yall again, got you good and comfortable with V8's and bigass trucks, then snatched the rug out.
     
  6. Lord Commander Palis

    Lord Commander Palis Superior Genetics Double Yellow Card

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    I love my state but man is it comical how far left loony it is. The ignorance is crazy. Enjoy more taxes along with higher base gas prices poor people (the lefts main voter base).
     
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  7. JudoThrowFiasco

    JudoThrowFiasco Charming Quark Platinum Member

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    Love when Americans chirp about gas prices
     
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  8. PEB

    PEB Atomic Butt Drop Champ :)

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    Because politicians say stuff like drill baby drill an we have the largest resources in the world. President Trump may cost Republicans a Florida Governor's position because he signed of on expanded drilling off of the golf of Mexico. Where drilling rigs can be seen by the beaches. I cannot wait till they see this stuff

    [​IMG]
     
  9. JudoThrowFiasco

    JudoThrowFiasco Charming Quark Platinum Member

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    Canada and Norway both have massive amount of reserves and we still pay way more. Your gas prices at globally low
     
  10. hillelslovak87

    hillelslovak87 Steel Belt

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    I think it's more intelligent over the long run to bank upon resources that are not finite.
     
  11. ShadowRun

    ShadowRun error Platinum Member

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    Well generally boats have to leave shore/beaches to get deeper in the ocean
     
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  12. PEB

    PEB Atomic Butt Drop Champ :)

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    It's a pocketbook issue people putting gas in their tank or buy groceries are not thinking what Norway pays. Norway maybe historically low because of over 50 percent new car sales are electric an they are huge oil producers.

    People get upset when it effects their lives. When they have less disposable money for things like trips to the ocean or camping that gets them upset. When it costs them 60 to 75 dollars to fill vs just around 50 dollars only a few months ago.
     
  13. ObamaPhoneLady

    ObamaPhoneLady Silver Belt Platinum Member

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    Why would prices go down when demand increases?
     
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  14. ObamaPhoneLady

    ObamaPhoneLady Silver Belt Platinum Member

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    Can't speak for Norway, but prices in Canada are high because of government theft, not anything to do with the oil business.
     
  15. sverre054

    sverre054 The Juggernaut Viking Platinum Member

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    Its such BS. I live in WA and AK, so we have similar if not higher prices than CA. Were approaching $4 a gallon here near Seattle. Its also because there some refinery issue. We have a refinery here within 50 miles, that hasn't such down in years. There are endless miles long trains with Oil coming from North Dakota in, and it almost all gets loaded up on oil tankers, and sent to Asia. USA is the leading Oil Producer now, so why are our prices shooting up?
     
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  16. TeTe

    TeTe Senior Moderator Staff Member Senior Moderator

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    I thought we improved the internal supply issue years ago? In California, it's mostly taxes.
     
  17. SaiWa

    SaiWa Black Belt

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    so are people going to shift back to buying sedans and smaller cars now? Ford is going to bring back the Taurus?? lol.
     
  18. JonesBones

    JonesBones Excuse my contraflow

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    lol. More pathetic chicken little shit. Oil prices can be both good or bad for an economy. You could make the case for either. It doesn't fit your sky is falling narrative. All market indices are up. You're down. lol

    Recent spike is Trump not letting others to buy Iranian oil. It is geopolitical you twit. Nothing like 2008.
     
  19. ObamaPhoneLady

    ObamaPhoneLady Silver Belt Platinum Member

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    Mostly taxes here in Canada too but prices still skyrocket in the summer.
     
  20. superpunch

    superpunch Gold Belt

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    $3.15 in Cali -- stop yo' bitchin. That's mad cheap, especially by California standards. I remember when it was $5 a gallon in cheap states and like $6 a gallon in Cali. Like 15 YEARS ago, so that'd be $6 and $7 a gallon now with inflation. The republicans just had to invade Iraq. Thank you republicans!
     

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