US Oil Production..
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If you've ever been through Collins, I see they're about to be adding several more storage sites.
What does this have to do with Stoops?
And regular 87 Oct was down to $2.79 in Starkville this a.m. because of it. That's pretty good but not this good
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Badly needed. But in today's political environment, it's hard for an oil company to justify investing several billion dollars and several years design and construction to build something that the government wants to shut down by 2035.
Cause that's what I've always thought about that place. If only they had more storage tanks here. **
This…. Along with Nuclear and Natural Gas
The US is doing well but Mississippi isn’t.
The state’s production hasn’t sniffed 60K barrels per day in years and has been stuck in the 30s since Covid.
The state’s production hasn’t sniffed 60K barrels per day in years and has been stuck in the 30s since Covid.
Maybe I'm mis-remembering, but I don't recall gas prices being particularly high in 2005. 2008, on the other hand...
Yeah, they spiked in the fall of 2005 during Hurricane season
Damn, I was having a good Friday and then Drebin was right about something.***
You are correct. I bought a new vehicle in July of 2008 and had to pivot in the process to a smaller vehicle than I intended to buy because gas was more than $4/gal.
They were higher in 2008 - enjoy your Friday…
More importantly, it makes no sense to oil companies to build capacity or storage that they don't need and that will only serve to lower their sale price and profits.
The political part is nothing. Just grease some palms and it's all good, same as it ever was.
They need to start replenishing the strategic oil reserve.
My thought as well. Was going to say 2008/9 it was pushing 5 bucks as I remember running my +20 gallon tank nearly empty on a trip and broke triple digits on the pump at a station in WV for the first and only time.
To Drebin's comment, breaking 3 bucks was the end of the world then, now I look at the prices in the pic above and consider it not particularly high.
My favorite question to ask whenever the screaming starts that GAS PRICES ARE TOO HIGH! How much should a gallon of gas cost?
It doesn't happen every time. Only when you're involved.
my budget got busted. was driving a
This was post-Katrina. It sucked. I owned two vehicles that both had Ford V8's in them. Talk about a sudden blow to the budget.
We went to buy a Honda Pilot at that same time and the damn salesman talked my wife into driving a "decked out" CRV and she loved it. Eleven years and three CRV's later we finally got a pilot. Oh well happy wife = happy life
I actually think under $2.50 per gallon is a fair price. It keeps production going, and jobs available in the industry. If it gets too low, oil prices get too low and production slows or stops.
2008's high gas prices gave us an incredible Always Sunny episode where The Gang Solves the Gas Crisis.
They buy a ton of gas with the intent to store it until the next year where they will sell it for a profit. Ends up that was a bad idea, so they try to sell the gas back to the station. They then set up right next to the gas station and try to sell it to people right away.
Ultimately, they take the gas door to door and try to sell it.
It gave us Charlie's first reference to being the Wild Card.
Gas prices were higher in 2020 when Trump left, even though prices plummeted due to covid, than in 2016 when Obama was leaving.
Gas prices heading into 2020 were expected to be higher than Obama's last 2 years in office, which would have made every year of Trump's term higher than Obama's last 2 years.
Gas prices consistently increased under W Bush.
Gas prices were lower when Obama left than when he took office, even though they dropped when he first took office.
Gas prices are straight up high under Biden.
In current dollars, gas under W when he left was $4.72/gallon.
Current US average is $3.39/gallon.
Figured I would inject some actual numbers into the conversation.
I have decided it is foolish to credit or blame presidents for the price of gas at any given point in time. There are simply too many external influences to honestly say 'Obama should get credit for these low gas prices' or 'Trump should be blamed for gas prices increasing!'.
Crazy that we declined to do so when oil was cheap because it would be a "bailout for the oil companies".
We need to buy whenever it looks like investment is dropping back and leave it the 17 alone. We can't indefinitely pump and drain the storage without 17ing it up structurally I don't think.
Also, it provides a disincentive to oil companies investment if they know the reserve will be drained anytime prices get high.
Gas prices were higher in 2020 when Trump left, even though prices plummeted due to covid, than in 2016 when Obama was leaving.
Gas prices heading into 2020 were expected to be higher than Obama's last 2 years in office, which would have made every year of Trump's term higher than Obama's last 2 years.
Gas prices consistently increased under W Bush.
Gas prices were lower when Obama left than when he took office, even though they dropped when he first took office.
Gas prices are straight up high under Biden.
In current dollars, gas under W when he left was $4.72/gallon.
Current US average is $3.39/gallon.
Figured I would inject some actual numbers into the conversation.
I have decided it is foolish to credit or blame presidents for the price of gas at any given point in time. There are simply too many external influences to honestly say 'Obama should get credit for these low gas prices' or 'Trump should be blamed for gas prices increasing!'.
I actually agree with you. Presidents also take too much credit (and criticism) for the economy in general.
No doubt, always love the bragging or finger pointing regarding "the economy". Fun thing about gas prices is it's easy to understand and affects everyone the same way for all 300MM+ on a daily bases so always the first thing out of the chute. Right there on big signs all over town.
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