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OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: 66vairman ()
Date: February 03, 2022 04:46PM

For years I've read the oil and financial news since oil prices have a large impact on other industries.

Fracking moved the U.S.A into a major global supplier, BUT I kept reading that most of the fracking wells output deteriorated in 3-5 years. So to keep the oil and gas flowing you had to find new fracking areas. This was compounded by the fact that a lot of companies jumped into fracking and claimed territory. To prevent companies from buying rights and "sitting on them" to deny a competitor drilling territory, the rules (somewhat complicated) are basically - "use it or loose it".

The excess fracking and limited demand due to early COVID pushed oil prices down to the $40's for a barrel and the little guys folded and the survivors bought them up. Now the "easy" oil is getting hard to find, costs are up, and with less competition - combined with a bounce back to pre COVID demand, oil is near $90.00 a barrel. The experts don't see this going down for sometime.

It pays to read the oil finance news. I decided to pass on buying a big pickup and now I'm glad. Also happy I drive a Corvair hobby car vs. some gas hog big block muscle car,



Edited 2 time(s). Last edit at 02/03/2022 04:49PM by 66vairman.

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: MattNall ()
Date: February 03, 2022 06:07PM

Whatever the Market will bear!!

MODERATOR
Sea Mountain, between Charleston Harbor and Coos Bay! SW Oregon Coast
Click HERE for My Website...Click HERE for My TechPages!
...............110-PG.................................................Webered-Turbo

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: MattNall ()
Date: February 03, 2022 06:07PM

Whatever the Market will bear!!

MODERATOR
Sea Mountain, between Charleston Harbor and Coos Bay! SW Oregon Coast
Click HERE for My Website...Click HERE for My TechPages!
...............110-PG.................................................Webered-Turbo

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: American Mel ()
Date: February 03, 2022 07:43PM

We need to just remove all artificial oil production barriers and return to the days of being Energy Independent!
Drill Here!
Drill Now!
AND
Allow more Domestic Refinery construction.

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WA. state, 1 mile south of the Canadian border, I am not at the end of the world, but you can see it from here.

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: playerpage ()
Date: February 03, 2022 08:05PM

In the 1970's, they were saying existing known world oil reserves would be tapped out in 40 years. Consequently,vI don't put a lot of stock in gloomy energy predictions.

Eric C. Player
Fargo, North Dakota
MEMBER: CORSA National, Central Coast CORSA, South Coast CORSA, Vintage CORSA, Sfba CORSA, and Great Plains Corvair Club.
THEN: 1965 Monza 110, Canary Yellow - 1965 Corsa 180 Turbo, Red - 1966 Monza 110, Purple - 1967 Monza 140, Red - 1966 500 110, Black; nicknamed "Shadow" - 1965 Monza 110, Camaro Yellow; nicknamed "Silver"
NOW: 1966 Corsa 180 Turbo, Blue; nicknamed "Bluvair"
---------------------------------------
"He cautioned me not to take notes. It would not have helped if I had, as he would start a paragraph with, 'It is therefore obvious. . .'
and go on from there to matters which may have been obvious to him and God but to no one else."
-- Robert A. Heinlein, character of Daniel B. Davis, 'The Door Into Summer.'

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: dhomuth ()
Date: February 04, 2022 08:40AM

Please discuss what barriers to oil production exist. Specifically, the ones allegedly erected by government entities.

1966 Corvair Corsa convertible
Same car I bought in 1/68 the night before I went to Viet Nam he second time. Got it back in 8/15. Very near concours perfect.


[corvaircenter.com]

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: cnicol ()
Date: February 04, 2022 09:03AM

When I drove to the 2008 Convention in Ventura, diesel in California was $5.30/gallon. My Dodge had a large tank and pumps had a $75 maximum per sale. (no, I've never heard of that either). Twice during the trip, I had to max-out two cards to approach a full tank. Oh yeah. sad smiley

Craig N. Coeur d'Alene ID.
66 Black Monza 4dr, 4.2L V8 49k
61 Seamist Jade Rampside 140 PG
65 Canadian Monza 4dr 110/PG 40k
66 Sprint Corsa convt - First car! Re-purchased 43 years later
2+2 gnatsuM 5691

+17 Tons of parts

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: Marco_a_p ()
Date: February 04, 2022 09:14AM

The Ferengi rules of acquisition state:

Bad news is good for profit
Good new is good for profit
Peace is good for profit
War is good for profit

Marco
A 2nd Gen Monza Wagon, a 2nd Gen GB 8door, a 2nd Gen (61's were 1st Gen) R/s and a 62nd Gen Turbo coupe..

Hanging out with the scorpions, king snakes, road runners, coyotes and quails In the southern desert of the silver state
Mesquite NV 89024

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: 66vairman ()
Date: February 04, 2022 11:14AM

playerpage Wrote:
-------------------------------------------------------
> In the 1970's, they were saying existing known world oil reserves would be tapped out in 40 years. Consequently,vI don't put a lot of stock in gloomy energy predictions.

True. Fracking changed all the predictions, but now we know fracking wells have a relatively short life span. As far as those GOVERNMENT restrictions -- well in the plains states they started having a number of earthquakes and folks blamed fracking. The STATE GOVERNMENTS said no way, let them drill. Finally after a couple years it was proved fracking WAS causing the earthquakes due to the fact that waste water was being pumped back down old wells to get rid of it. So after THE PEOPLE threatened to sue the STATES and oil companies, they had to stop disposing of waste water down old wells. The earthquakes (mostly) stopped, but the cost of fracking increased making it less profitable in those states and many fracking companies left.

Fact is there is a lot of oil still in the ground, but a lot of it is so expensive to extract it won't happen unless the price of oil triples. At that point oil is more expensive than green energy. Folks won't pay for expensive oil if green energy is less expensive.

Money talks, opinions walk.

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: American Mel ()
Date: February 04, 2022 06:14PM

dhomuth Wrote:
-------------------------------------------------------
> Please discuss what barriers to oil production exist. Specifically, the ones allegedly erected by government entities.


While they are numerous, the one that was a big issue where I grew up was the off-shore oil in the state of Kalifornia that was shut down before it even got started.
And more recently, there was the shut-down of the Keystone Pipeline, just to mention two.
But there are many examples, but to continue this discussion risks being shut down for "Discussing Politics" thumbs up

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WA. state, 1 mile south of the Canadian border, I am not at the end of the world, but you can see it from here.

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: Frank DuVal ()
Date: February 04, 2022 08:18PM

Quote

And more recently, there was the shut-down of the Keystone Pipeline,

Pipelines just move oil, nothing to do with production. You can move oil other ways. And, that was CANADIAN OIL, not US oil.

Frank DuVal

Fredericksburg, VA



Edited 1 time(s). Last edit at 02/04/2022 08:18PM by Frank DuVal.

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: American Mel ()
Date: February 04, 2022 08:55PM

Poor argument frank.
Pipeline may "Only Move" oil, but you effectively stop the production of that oil when you force it to travel through other (More Costly) modes of transportation.
As for it being "CANADIAN OIL, not US oil", what has that got to do with anything???confused smiley
It is North American oil, and using it reduces our dependency on middle eastern oil that we have been buying from countries that are not truly our friends.
.
As for being "canada", hmph!
I really don't know why we continue to play this charade about canuckville being an independent nation?
We all know that they are really just our northern 10 provinces and 3 territories that we grant the privilege to operate autonomously.
(Can you imagine the cost if we were to administer them ourselves ? ? ? eye popping smiley )

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WA. state, 1 mile south of the Canadian border, I am not at the end of the world, but you can see it from here.

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: playerpage ()
Date: February 05, 2022 01:47AM

As I mentioned in a private conversation spurred by this topic, my family follows these things with great interest. My father is a geologist who designed pretty much the entirety of the Alaska pipeline's foundation. It famously has very little maintenance problems except from anti-oil sabotage or local hunters shooting it accidentally. It has also hardly ever operated at capacity. That's an oil crisis (in that instance) of our own making.

Fracking costs still haven't gone beyond the cost of shipping the oil in from overseas. Oil companies are like any other company--they go where they can make the most money for as little trouble as possible. Tech companies move out of California and go to Texas, oil companies went from Oklahoma to North Dakota. The products are the same.

Plus, natural gas is a by-product of oil collection. My dear old dad even came up with a process that can collect it from abandoned wells. Think about how many of those exist.

$6.00 gas, to me, is representative of the general inflation in every part of the economy. If we do hit it, it won't mean fossil fuels have outpaced anything else.

I've said before I don't mind electric cars or most other new technology in that sphere. Sure, currently they are harder on the environment than oil, but oil production was a lot messier 100 years ago. If we can grow it sanely--like, build an infrastructure for it--then great. As long as I can drive it myself.

Incidentally, the best way to accomplish the huge uptick in energy needed to power all those electric cars, is with coal, nuclear, or natural gas power plants. Just my educated guess.

Eric C. Player
Fargo, North Dakota
MEMBER: CORSA National, Central Coast CORSA, South Coast CORSA, Vintage CORSA, Sfba CORSA, and Great Plains Corvair Club.
THEN: 1965 Monza 110, Canary Yellow - 1965 Corsa 180 Turbo, Red - 1966 Monza 110, Purple - 1967 Monza 140, Red - 1966 500 110, Black; nicknamed "Shadow" - 1965 Monza 110, Camaro Yellow; nicknamed "Silver"
NOW: 1966 Corsa 180 Turbo, Blue; nicknamed "Bluvair"
---------------------------------------
"He cautioned me not to take notes. It would not have helped if I had, as he would start a paragraph with, 'It is therefore obvious. . .'
and go on from there to matters which may have been obvious to him and God but to no one else."
-- Robert A. Heinlein, character of Daniel B. Davis, 'The Door Into Summer.'

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: v8vair ()
Date: February 05, 2022 06:00AM

My Spyder thinks it’s a Big Block Chevy when it come to fuel mileage and my Truck sucks fuel as fast as I put it in !
I’m screwed smiling smiley

1965 Crown V8 Racer
1964 Bill Thomas Monza Replica Racer
1964 Spyder Street Car
1979 Mazda RX7

Mike Levine

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: davemotohead ()
Date: February 05, 2022 06:29AM

I think we all know the real Reason EVERYTHING has gone up in price, I remember 8 years of $4 - $6 a gallon gas here in Ca, then we had 4 years of $2.50 a gallon gas prices or less,, I paid as little as $2.25 a gallon here in 2018. Now Since 2020 Gas has gone back up to $5-$6 a gallon in CA? We went from energy independence in 2019 with the USA as the top oil suppler in the world to Energy dependent buying Oil from OPEC again in 2021 with new massive inflation? 4 years of the best economy in the world with the lowest Unemployment right back to a bad economy, massive inflation and unemployment? Laying 1/2 the country off and closing massive amounts of private businesses and then hiring 1/4 of them back is not creating jobs! Gee What changed? Call a spade a spade, you don't need to be a rocket scientist to figure it out. eye rolling smiley







1960 4dr sedan caveman car
1961 Rampside (Chetside)
1962 Rampside (Barnside)
1962 Short Rampside (Shortside)
1962 Monza 700 Wagon
1963 Monza 900 coup (General Nader)

-----------------------------------
Rust Free Lancaster Ca

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: viewmaster ()
Date: February 05, 2022 06:45AM

davemotohead Wrote:
-------------------------------------------------------
> I think we all know the real Reason EVERYTHING has gone up in price, I remember 8 years of $4 - $6 a gallon gas here in Ca, then we had 4 years of $2.50 a gallon gas prices or less,, I paid as little as $2.25 a gallon here in 2018. Now Since 2020 Gas has gone back up to $5-$6 a gallon in CA? We went from energy independence in 2019 with the USA as the top oil suppler in the world to Energy dependent buying Oil from OPEC again in 2021 with new massive inflation? 4 years of the best economy in the world with the lowest Unemployment right back to a bad economy, massive inflation and unemployment? Laying 1/2 the country off and closing massive amounts of private businesses and then hiring 1/4 of them back is not creating jobs! Gee What changed? Call a spade a spade, you don't need to be a rocket scientist to figure it out. eye rolling smiley


There is alot of truth in what you have to say Dave,, and I also wonder...what changed?? I know some pundits on this site will argue that your statement, Dave, although quite acurate, is too overly simplified, But...I digress. I am a simple man.

Mike
'65 '500' Sedan 110 PG
'65 Monza Sedan turbo'd 110 SU conversion
Fresno, CA

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: davemotohead ()
Date: February 05, 2022 06:52AM

Even CNN agrees with me from a Article they wrote in 2019, Time to Tell it like it is! Leadership matters! The new guy releases oil from our reserves to lower gas prices, then ships it to China!

CNN 2019 [www.cnn.com]







1960 4dr sedan caveman car
1961 Rampside (Chetside)
1962 Rampside (Barnside)
1962 Short Rampside (Shortside)
1962 Monza 700 Wagon
1963 Monza 900 coup (General Nader)

-----------------------------------
Rust Free Lancaster Ca

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: Dave Decker ()
Date: February 05, 2022 06:55AM

$7.37 a gallon here in Kamloops. Bigger gallon, smaiier dollar, but this is gonna hurt during RV season!

Dave, Kamloops, B.C. '65Crown V8, 2009 Tacoma

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: cnicol ()
Date: February 05, 2022 10:28AM

66 Vairman wrote: "Fact - Spending on services in 2020 - 2021 declined because of Covid. So folks started spending their money on GOODS. That demand pushed up prices."

Craig replies but adds, short supply due to decreased production also adds to prices. Plus, according to my brother, who has a Phd in Finance, adding $Trillions of unearned cash to the money supply directly dilutes the value of money and also adds to inflation so inflation is really a 1,2,3 punch not just an increase in demand.

Craig N. Coeur d'Alene ID.
66 Black Monza 4dr, 4.2L V8 49k
61 Seamist Jade Rampside 140 PG
65 Canadian Monza 4dr 110/PG 40k
66 Sprint Corsa convt - First car! Re-purchased 43 years later
2+2 gnatsuM 5691

+17 Tons of parts

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Re: OT - Oh oh - $5.00 to $6.00 gasoline
Posted by: v8vair ()
Date: February 05, 2022 11:12AM

All I know is what I see, the shelves are empty, prices of everything is up more than 6 percent and the Dems are running the show. That’s fact

1965 Crown V8 Racer
1964 Bill Thomas Monza Replica Racer
1964 Spyder Street Car
1979 Mazda RX7

Mike Levine

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