And Another Thing…..
…..how come gas prices are rising? I thought the US was pumping more oil than ever before. I’m not sure how oil speculation effects the price but if this is all caused by Wall Street it needs to stop.
I can afford the gas prices, I just don’t like being forced to pay more to line some assholes wallet.
Oil soars 2.9% to 3-year high, settling at $68.47, as US crude stockpiles drop
-
Oil prices rose to more than three year highs on Wednesday, with U.S. crude topping $68 a barrel for the first time since December 2014.
-
Futures extended gains after weekly government data showed U.S. crude stockpiles fell by 1.1 million barrels.
-
The oil market has been supported by concerns about geopolitical tension and supply disruptions in crude-producing nations.
4 thoughts on “And Another Thing…..”
Remember Venezuela? Less and less crude is flowing from there and it’s affecting world price levels.
It’s a global market, not local to the US. Refinery capacity also plays a role.
You also have to consider what type of crude a refinery is made to process. That $64 a barrel is based on west texas crude; where I work our oil is classified as having a 24 offset which means we get $40 a barrel for it right now. Sadly the coastal types are blocking new pipelines which limits who we can sell our crude too. There are very few refineries that can process our thicker (higher sulfur) stuff, that are not at full capacity so it drives down the value; but the refineries processing the really sweet light crude are not able to source enough crude right now to be at full capacity.
Late comment, but you [and I] are paying world prices. Why should the “man” give it to you at $1 when he can serll it overseas for $3. You all sound like Democrats.
By the way, the “man” also gave the good jobs to “overseas” so they can afford the profitable fuel expense.
Don’t worry. The “Establishment” [The “Chamber”] and the Ghetto-crats will prosper.
Open your eyes and get off your asses. Maybe a “tariff” will help………..