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Author Topic: EIA report shows rise in crude supply, drop in gasoline supply Back to Topics
PD

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Message Posted: Nov 13, 2013 10:26:46 AM

The Energy Information Administration released its weekly report on the status of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories increased by 2.6 million barrels to a total of 388.1 million barrels. At 388.1 million barrels, inventories are 12.2 million barrels above last year (3.2%) and are above the upper part of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 0.8 million barrels to 209.2 million barrels. At 209.2 million barrels, inventories are up 7.3 million barrels, or 3.6% higher than one year ago. Here's how individual regions and their gasoline inventory fared last week: East...

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REPLIES (newest first) Post a Reply
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gasmask78
Champion Author Virginia

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Message Posted: Jan 9, 2014 3:07:23 AM

Yep
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gasmask78
Champion Author Virginia

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Message Posted: Dec 26, 2013 12:20:31 AM

This is good news.
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JOHNJOEYJOE
Champion Author Texas

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Message Posted: Dec 16, 2013 8:43:53 PM

It's all an ongoing conspiracy to keep the price of gasoline high an gouge the consumer. The American consumer is dependent upon the automobile, I would suggest more so than any other modern country.
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gasmask78
Champion Author Virginia

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Message Posted: Dec 14, 2013 10:29:42 PM

Or Q
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gasmask78
Champion Author Virginia

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Message Posted: Dec 14, 2013 10:29:26 PM

Z
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gasmask78
Champion Author Virginia

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Message Posted: Dec 14, 2013 10:21:57 PM

Hooray! Statistics on Saturdayyyyy!
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gass12
Champion Author Omaha

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Message Posted: Dec 5, 2013 3:29:53 PM

This has no effect on the price of Gas.
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RS101
Champion Author Minnesota

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Message Posted: Dec 5, 2013 6:47:18 AM

Its all about $$$
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jcVA
Champion Author Virginia Beach

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Message Posted: Dec 3, 2013 12:24:47 PM

but oil is up today... tell those jock straps at opec to bite it hard
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loboso
Champion Author Virginia Beach

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Message Posted: Dec 3, 2013 8:45:51 AM

Agreed by slowing production maintains prices and profits
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dongo50
Champion Author West Virginia

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Message Posted: Dec 3, 2013 4:10:35 AM

ok
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Pete12
Champion Author Albany

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Message Posted: Nov 15, 2013 12:56:16 PM

A perfect case of the refineries slowing their output.
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85XJ
Champion Author Toledo

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Message Posted: Nov 14, 2013 10:04:29 PM

That's my question too, randyragon. Why did Toledo prices jump so much? Some stations are up as much as 50 cents a gallon. The average over last week is up 22 cents, but some stations stayed down while other went up.

There aren't so many posts because this wasn't on the main page like it usually is, and it posted a day late.
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randyragon
Veteran Author Gary

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Message Posted: Nov 14, 2013 3:43:42 PM

Has there only been 4 posts in the past 3 hours? I find that unlikely. I notice that there is a new Ignore Short Messages checkbox. But checking and unchecking doesn't change the number of messages. Might have a bug in it. I'm all for it. Nothing drives me crazier than the one word "Ok" or "Old" or something else that doesn't add to any discussion. It just gives that person their 20 points. Which would be fine except only so many posts will display and the valid posts with true thought out opinions get pushed out and can't be read later on.
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fedupp
Champion Author Cleveland

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Message Posted: Nov 14, 2013 1:27:44 PM

Because many of the wells start to diminish almost as soon as they start producing,and most after 1.5 to 2 years so new wells will need to be drilled constantly to continue-so the start up costs never end-neither will the environmental or infrastructure costs-and we pay those not the corporations(many of them foreign or international)Fracking is not a new technology that will provide affordable fuel-it is ancient technology(developed in the 1860s)that can only be performed if world crude oil prices are sky high----in other words in places with real oil fields like Iraq,kuait,Iran,Venezuela ect.ect.ect.ect. oil only costs a tiny fraction of what fracking costs-they get oil out of the ground for pennies on our dollars-and once a well is put in place it will in most cases produce for years,even decades---the oil being produced in the US could not even compete with $50.00brl oil-let alone $20.00 or $30.00brl oil--the conditions for fracking must be cultivated--in our case with war in the middle east------China and Russia did not miss a beat,they know where to get cheap oil-years before we left Iraq China started making deals--and now OPEC is happy with selling us the same $15.00 $20.00brl oil they did before the wars for $100.00+ Cheap oil comes from real oil fields-not from spliting rocks open with diesel fuel and water-I wish the reality was different,I really do-but its not.
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DriverDave
Champion Author Twin Cities

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Message Posted: Nov 14, 2013 12:42:38 PM

Crude oil prices are set on the commodities market, not by the BIGEVILOIL© companies. The base price for gasoline is set by the spot futures contracts traded on the commodities markets, not by the BIGEVILOIL© companies. Those who like to b*tch about one or both should direct their vitriol at the correct target.

Your local gas price, on the other hand, is set by your local pipeline terminal price. Those pipelines contain products coming from regional and/or local refineries, who set the various product prices each day based on their input costs plus a nominal per gallon profit (usually pennies per gallon, sometimes at or a little over 10¢/gal).

The biggest cost for fracking is the start-up cost, so if it's just maintenance costs after that, why would fracking stop if crude prices drop below a certain, variably price point?
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fedupp
Champion Author Cleveland

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Message Posted: Nov 14, 2013 11:31:58 AM

Yep just perfect,as long as they(international and US oil corporations) keep the price of crude oil high enough to frack-their investment is protected.If the price ever goes below the incredibly high support costs of rock oil again(I doubt it)then they will go out of business at least in the US---rock oil never could and never will be able to compete with real oil fields in price per barrel,true oil rich natoins can drown us in cheap oil if they wanted to-but why would they if we are willing to pay $100.00+ for $20.00 barrels of oil?
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randyragon
Veteran Author Gary

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Message Posted: Nov 14, 2013 11:26:44 AM

So if Midwest gas supply went up slightly, why in Chesterton, IN did the price yesterday go from $2.91 up 38 cents to $3.29? Oh, I remember, it was Wednesday. 6 out of the 7 past Wednesday's the price has gone up an average of 30 cents, then trickled back down to the following Tuesday. No price fixing or manipulation involved I'm sure.
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