You Hear About This???

September 10, 2012

The average U.S. price of a gallon of gasoline has jumped 8 cents over the past two weeks.

That’s according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.84.

Midgrade costs an average of $3.99 a gallon, and premium is at $4.12.

Diesel rose 9 cents to $4.14 a gallon.

Of the cities surveyed in the lower 48 states, El Paso, Texas, has the nation’s lowest average price for gas at $3.44. Chicago has the highest at $4.30.

In California, the lowest average price was $4.05 in Bakersfield. San Francisco has the highest at $4.19. The average statewide for a gallon of regular was $4.13.Locally we are just shy of the $4 mark…

 


Exxon-Mobile Earnings Perspective

April 30, 2011

There are just things the old media just won’t tell you, now that class warfare is Obama’s campaign slogan for 2012. Things like what Obama’s no drill policy is doing to our oil supply, what the fed is doing to devalue our dollar, yes oil is traded in dollars, and other pertinent data that fuels the Obama demagoguery.

So here is Exxon-Mobil’s earnings in one easy to understand chart:

From Ken Cohen, Exxon-Mobil:

Big numbers make headlines – like our announcement of $10.7 billion in earnings for the first quarter of 2011. What may not make the headlines is the context surrounding that number, so I thought I would share with you what I told reporters following the announcement:

Let me start by putting our earnings into context for U.S. motorists.

ExxonMobil’s earnings are from operations in more than 100 countries around the world. During the first quarter, more than three-quarters of our operating earnings came from outside of the United States.

The part of ExxonMobil’s business that refines and sells gasoline, diesel and other products in the United States represents less than 6 percent – or 6 cents on the dollar – of our earnings.

Why so little? Because we actually buy more crude oil to refine into gasoline and diesel in the U.S. than we produce ourselves. And these purchases are made on the open market at the prevailing rates.

During the first three months of this year, for every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents. Compare that to the 40 to 60 cents per gallon that went from gasoline consumers to the government (state and federal) in gasoline taxes.

The underlying question people are asking is: Why are oil prices so high at the present time? The answer to this question is important because the price of crude oil accounts for most of the price of gasoline.

There are several factors involved in the rise in oil prices.

First, as a result of the global economy strengthening – particularly in countries like China, India and Brazil – demand for crude oil is on the rise.

Second, political instability in some oil-producing regions is contributing to uncertainty about future oil supplies. Oil markets are well-supplied today, but the issue is this: What will it cost to replace this supply if it is lost in the future? This uncertainty about tomorrow is reflected in prices today.

Finally, another factor behind higher oil prices is unique to the United States. And that’s the weak U.S. dollar.  Oil and most other food and industrial commodities are invoiced in dollars. Accordingly, when the dollar goes “down” the price of primary commodities tend to go “up,” and vice versa.

The dollar is at a three-year low against other currencies and is approaching the record low which occurred in 2008, when oil prices were at historically high levels.

The dollar’s decline accelerated last week after a warning by Standard & Poor’s about the country’s $14.3 trillion debt and economic weakness compared to other countries.

So these factors all combine to drive oil prices up.

What is our government doing about it? Unfortunately, they’re reaching for the political playbook rather than seeking real solutions.

Among some of the many things the Obama regime is doing to limit our oil supply … Shell Cancels Arctic Oil Drilling Plans for 2011 … After having spent $4 billion so far to explore the tract. Why you ask, when they have a 27 billion barrel find about 50 miles from the Alaska pipeline terminus — Simple the ice breaker they planned to use emits CO2, and we can’t deny the global warming hoaxers at the EPA, now can we.


Gas Prices, Obama vs Obama

March 13, 2011

Note this is the 9/11 attack and early Afghanistan and Iraq war years …

Hey look, the chart was compiled from Obama’s own EIA data … Shows what shutting down USA oil production can do, doesn’t it? Actually gas price is now over $3.50 a gallon across the country, but it’s early. Analysts are predicting $5 a gallon by the end of Obama ‘s “the community organizer” first term.

After all, this is the President who told us “We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times … and then just expect that other countries are going to say OK.”

This is the President that appointed a Secretary of the Interior that famously said he didn’t mind if gas hit $10 a gallon.

Frankly my dear teleprompter reader, I don’t give a damn what other countries are going to say.


Gas Prices Rising, Now It’s A Good Thing ?

April 9, 2010

Remember Sen Schumer standing in front of the gas pumps, the Democrats car pooling to the gas pumps, all to blast Bush for every nickle price increase. And where are they now? Crickets … Here is a video of how the frenzy went …

And now, we see the Obama regime and it’s lame stream media flacks, doing exactly nothing. But the Obama regime is canceling oil leases in the USA, restricting USA offshore drilling … And then the energy independent lies, the USA has more fossil fuels than any other country. We have untapped known reserves all over the place.

Here is a video that shows how artificial the lame stream media is:

Where has the lame stream media gone? Uncanny liars.

The average price of regular gasoline in the United States is up 14 cents over a three-week period to $2.74.

Analyst Trilby Lundberg says the average price for a gallon of mid-grade was $2.86. Premium was at $2.97.

Cheyenne, Wyo., had the lowest average price among cities surveyed at $2.36 a gallon for regular. Anchorage was the highest at $3.28.

In California, prices were also up 14 cents since Dec. 18. A gallon of regular cost an average of $3.02.

Sure am glad that Congress passed that drill baby drill legislation in 2008. And what did Obama do, cancel it.


Gas Prices, Up Up and Away

June 18, 2009

Retail gas prices climbed for the 50th straight day Wednesday, and crude prices that had slumped all week bounced back.  Locally, premium is over $3 a gallon.

Historically, filling station prices tend to rise during the summer as millions of Americans take to the road. But a surge in crude prices during the past few months and less production from the refiners that make gasoline has added pressure on prices.

“Refiners slowed production and did a lot of maintenance on the expectation that this was going to be a lousy year for demand,” said Fred Rozell, retail pricing director at Oil Price Information Service. “It turns out it wasn’t so bad.”

Yet it’s still pretty bad. Before the most recent government report on demand, gasoline supplied to the market was down 3 percent, and prices have still been cheaper than they were three years ago.

(AP) A motorcyclist passes a sign displaying gasoline prices Wednesday, June 17, 2009, in Oakland,…
Full Image

Pump prices added a half cent overnight to a new national average of $2.679 a gallon


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