Not good-oil prices

[Tabassco]

Well the point seems to fly in the face of your initial reaction to the situation, and since 27 of the 100 posts on this thread have been from you either proclaiming the sky is falling, hiding from a nonexistent ban hammer heading your way, to defending the oil industry, I guess my point is that I agree with the other 70%+ that have maintained consistency in their views and convictions. And since I am a firm believer that arguing with a certain percentage of folks makes it harder for people to determine who the dumb one is, I am truly “out”. Have a great day.

Wow .........I'm sorry you did not like what I had to say, but that's your problem. Its not mine.

Hey man, its just a message forum.

And we're two days into this ............. not near the end.

[Tabassco]

Well the point seems to fly in the face of your initial reaction to the situation, and since 27 of the 100 posts on this thread have been from you either proclaiming the sky is falling, hiding from a nonexistent ban hammer heading your way, to defending the oil industry, I guess my point is that I agree with the other 70%+ that have maintained consistency in their views and convictions. And since I am a firm believer that arguing with a certain percentage of folks makes it harder for people to determine who the dumb one is, I am truly “out”. Have a great day.

Show me a post where I said the " sky is falling " ? What I posted was what was happening in the markets. I did not put my stamp of approval or disapproval on it, I just posted what the markets were doing. I left it up to the reader to make of it, what it was. Yes, the price of oil jumped in a huge way Sunday. I did not express an opinion on that, though I did say it would depend on how long the Saudis would be down.

And when half of Saudi Arabia's oil production is taken off the market, that's a really really big deal. Whether you think it is , or not.

I will always defend the oil industry against ignorance. And I will always tout the great benefits of free market capitalism.

And guys like you on internet message forums, are a dime a dozen.

Oh yeah, as far as how people get banned here, I ain't gonna touch that with a 10 foot pole.

[lakebouef5]

The Saudis announced today they can shift refining around and be back at last week's output, even with the large refinery crippled. Hmmm

[Mutt]

Gas went up 20 cents a gallon today here. looks like the greed is already hitting.

[bshort]

Gas went up 20 cents a gallon today here. looks like the greed is already hitting.

Yep. Filled up on Sunday and noticed it was up 20 today.

[haha]

On the news the other day they mentioned gas should jump by about $.30 per gallon. Ironically 2 gas stations I drove by on Friday are up exactly $.30 Monday from $3.65 to $3.95.

[billnorman1]

but be assured we will pay more for a bit.. they will jump the prices up cuz they have an excuse..
they raise it a quarter when a moose pees on the pipeline

Up 10 cents a gallon here today.

[250bassFL]

Up 10 cents a gallon here today.

News just said they have 1/2 of the damage repaired, and oil production is going on there again. So it is estimated prices will only rise 20 cent a gallon, than the amounts earlier predicted. That's what I seen on Early Today.

[BSSCT98]

Why are we even using foreign oil when we have plenty in our own country?????????? Gas at Murphy's, Port Arthur, $198.9 and after drone attack $2.25 and the same gas in the storage tanks. As said, anything will make it increase no matter what the impact.

[Jamie]

Well the point seems to fly in the face of your initial reaction to the situation, and since 27 of the 100 posts on this thread have been from you either proclaiming the sky is falling, hiding from a nonexistent ban hammer heading your way, to defending the oil industry, I guess my point is that I agree with the other 70%+ that have maintained consistency in their views and convictions. And since I am a firm believer that arguing with a certain percentage of folks makes it harder for people to determine who the dumb one is, I am truly “out”. Have a great day.

Well said.

[local16]

So you were paying $2 a gallon , yesterday ?

https://www.gasbuddy.com/GasPrices/Illinois/Decatur

$2.39 Tuesday and went up to 2.69.

[tcesni]

Why are we even using foreign oil when we have plenty in our own country?????????? Gas at Murphy's, Port Arthur, $198.9 and after drone attack $2.25 and the same gas in the storage tanks. As said, anything will make it increase no matter what the impact.

Where the oil comes from is somewhat irrelevant to price because it is so easily transported. Crude is priced as a commodity on trading exchanges just like corn and soybeans so if there is a disruption in supply in the Middle East then crude in North Dakota or Texas becomes more valuable, hence the price of gas increases. But where the crude is produced does impact possible disruption in supply that can lead to additional price instability (increases) but fortunately the U.S. is in a good situation regarding supply. The U.S. exports some oil and a lot of gas and imports some oil but we import far less than we used to.

[basshole51]

https://www.cnbc.com/2019/09/17/oil-...i-attacks.html

"Oil drops 5% one day after historic surge as Saudis signal output to return to normal soon"

[LewStulePH.D.]

https://markets.businessinsider.com/...9-9-1028521587

Aramco, in fullArabian American Oil Company, Oil company founded by the Standard Oil Co. of California (Chevron) in 1933, when the government of Saudi Arabia granted it a concession.

Other U.S. companies joined after oil was found near Dhahran in 1938. In 1950 Aramco opened a pipeline from Saudi Arabia to the Mediterranean Sea port of Sidon, Leb. It was closed in 1983 except to supply a refinery in Jordan. A more successful pipeline, with a destination on the Persian Gulf, was finished in 1981. In 1951 Aramco found the first offshore oil field in the Middle East.

In the 1970s and ’80s, control gradually passed to the Saudi Arabian government, which eventually took over Aramco and renamed it Saudi Aramco in 1988.

[ColdSVT]

Falling today...well oil prices are.
Gas wont move down a cent in my town

[DrewFlu33]

Falling today...well oil prices are.
Gas wont move down a cent in my town

Yep. Won't come down because gasoline takes months to be processed from crude, but prices going up are always in lock-step with crude prices going up. "Gas stations only make money from customers buying stuff inside" though, precisely why Sam's Club and Wal Mart are in the gasoline business, right?

[john3dd]

I thought we were self sufficient? Why are we getting involved with what happens in Saudi Arabia? They have their own army and airforce, let them deal with it.

[g352nv]

I thought we were self sufficient? Why are we getting involved with what happens in Saudi Arabia? They have their own army and airforce, let them deal with it.

It's not that simple, it's global supply. China is buying oil from the US now.

[ChampioNman]

Got gas today at my local Sam's club just because I need it $2.32/gal same as Saturday.

[trifish]

I’m just going to leave this link here. Long story short, the US still relies on imported oil for a third of our daily usage.

https://foreignpolicy.com/2019/09/18...e-up-in-smoke/