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Author Topic: Refineries ramping back up, ethanol inventories down 10% over last year Back to Topics
PD

Moderator
Message Posted: Apr 2, 2014 10:36:08 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 decreased by 2.4 million barrels to a total of 380.1 million barrels. At 380.1 million barrels, inventories are 8.5 million barrels below last year (-2.2%) and are in the upper half of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.6 million barrels to 215.6 million barrels. At 215.6 million barrels, inventories are down 5.0 million barrels, or 2.3% lower 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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honda0105
Champion Author Tallahassee

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Message Posted: Apr 8, 2014 5:55:34 AM

not gonna make a positive dent on pump prices.
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Tundralimited2009
Champion Author Dallas

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Message Posted: Apr 7, 2014 1:45:26 AM

Great news
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fedupp
Champion Author Cleveland

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Message Posted: Apr 4, 2014 1:15:04 PM

Because the US and Canada are not true oil rich countries---and frack,shale and steam tar oil will always be WAY to expensive to get out of the ground to do any of us any good--no matter how much they extract---the price needs to be kept high enough to do it--and that is exactly what they are doing,thats why they export refined goods--that refining capacity could go to fuel---but then the price would go down and they would have to stop fracking,and steaming tar out of sand pits.They must buy and sell(import export)at these ridiculous manipulated world market prices--or the world price would drop,almost immediately.
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twinfanMN
Champion Author Minnesota

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Message Posted: Apr 4, 2014 11:09:38 AM

If they are ramping up how come prices are heading up again instead of down?
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agrico
Champion Author New Orleans

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Message Posted: Apr 3, 2014 9:50:54 PM

without ethanol price will go up
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Pete12
Champion Author Albany

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Message Posted: Apr 3, 2014 8:42:06 PM

They better ramp up real quick before the consumer goes broke.
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BarbieLoveJax
Champion Author Jacksonville

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Message Posted: Apr 3, 2014 5:17:42 PM

I hope ethanol goes way down and gets out of my gas.
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DSL987
Rookie Author San Antonio

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Message Posted: Apr 3, 2014 4:23:23 PM

@Raccoon
Why do we need more refineries when we are already producing more diesel and gasoline in the US then we can consume, which is why we are exporting now.
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fedupp
Champion Author Cleveland

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Message Posted: Apr 3, 2014 1:29:51 PM

None of you know what happened in Iraq,and Venezuela? None of you know that oil was $20.00 per barrel for the most part, for 20 years until our two north American oil producers in the white house invaded on lies and drove the world price of oil to $145.00 per barrel in 5 years? None of you know that China pumps super cheap oil out Iraq every day,and has been for over 6 years? None of you know that both China and Russia are in talks with Iran,kuwait,and Venezuela to do exactly what I am talking about?---all of these ridiculous developments were completely avoidable,and are reversible-----Who cares about what is going on in Houston,with oil at $100.00? Not me,$100.00 per barrel is ridiculous,and it is a direct result of our governments actions----just exactly the same as the last time we did this from 1973 to 1984--- we had none of these problems,zero until march 20 2003---------the world price of oil could start dropping tomorrow--but cheap oil will never come out of a frack well or a steam tar pit----and if we would have never let them do that stupid shit in the first place,we would still have cheap oil....now we never will.Start telling me about north American energy independence,when the average American can afford a gallon of gas----like they could before we heard of this ridiculous idea----it's been a total failure,just exactly how it was predicted ten years ago----when that slime pipe comes down from Canada carrying low efficiency $90.00 per barrel to lift tar oil,it will be the final chapter in sky high world oil prices forever---and I guess for some reason half the country will celebrate that also?!
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cobeng10
Champion Author Colorado Springs

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Message Posted: Apr 3, 2014 1:17:07 PM

Same old thing.
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DriverDave
Champion Author Twin Cities

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Message Posted: Apr 3, 2014 12:38:46 PM

Sneakers55 - Spot on comments. :-)

Oh wait, you're in Houston, what would you possibly know about oil and gasoline... ;-)
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MAC48
Champion Author Dallas

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Message Posted: Apr 3, 2014 12:06:39 PM

Sneakers55 is 100% correct. As long as the OPEC countries have their economies and investments for a future without their oil production based on a minimum world crude oil price of 80 to 90 dollars per barrel, we will never see prices at the pump below the high $2.00 again. But if you do want a bit of relief at the pump agitate to get the mandatory ethanol content down to 5% and absolutely no greater than 5%.
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Sneakers55
Champion Author Houston

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Message Posted: Apr 3, 2014 11:30:25 AM

On Apr 3, 2014 5:54:40 AM, fedupp wrote:

>we are never going to get around the ridiculously high lifting costs
>of fack,shale and especially-steam tar oil from Canada---with a
>range of $65.00 to $90.00 per barrel to lift.. instead of
>$2.00-$3.00-$4.00 per barrel to lift, like true oil rich
>countries--cheap fuel is now impossible---unless of course we
>change the way we do business with the OPEC nations

Do any of your changes including nuking them until they glow and then going in and taking the oil?

>then we could see lower fuel prices starting tomorrow.

OPEC is locked into their current prices just as much as we are to the lifting costs of domestic and Canadian oil. The OPEC countries invariably have major social welfare programs that they fund with their oil profits. If they don't, they realize they are going to eventually pump out all the oil and they will return their impoverished state if they don't save their money for a rainy day. Even our allies are unwilling to sell us oil for less than the market price. That's because it IS the market price, whether or not we like it or not.

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fedupp
Champion Author Cleveland

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Message Posted: Apr 3, 2014 6:54:40 AM

---we are never going to get around the ridiculously high lifting costs of fack,shale and especially-steam tar oil from Canada---with a range of $65.00 to $90.00 per barrel to lift.. instead of $2.00-$3.00-$4.00 per barrel to lift, like true oil rich countries--cheap fuel is now impossible---unless of course we change the way we do business with the OPEC nations,then we could see lower fuel prices starting tomorrow.But as long as they are fracking and steaming tar out of pits, for oil up to $86.00 more to lift,per barrel- than oil from a true oil rich country....oil prices will be sky high.
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pitamon
Champion Author Philadelphia

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Message Posted: Apr 3, 2014 6:11:38 AM

Blah, blah, blah, we will get screwed.
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vjmagic
Champion Author Fort Worth

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Message Posted: Apr 3, 2014 6:07:03 AM

ok
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AESJOBLOM4
Champion Author Florida

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Message Posted: Apr 3, 2014 6:04:02 AM

SO WHAT DOES THIS MEEN
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Nozzel
Champion Author Ontario

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Message Posted: Apr 3, 2014 6:01:20 AM

ok
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raccoon2011
Champion Author Massachusetts

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Message Posted: Apr 3, 2014 5:58:35 AM

#1 get rid of ethanol. # 2 stop exporting so much distillates. we would have positives if not for exporting more than we have. # 3 need more refineries.
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vamike
Champion Author Virginia

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Message Posted: Apr 3, 2014 5:58:09 AM

Yesterday's news.
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Jeffro61
Champion Author Cleveland

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Message Posted: Apr 3, 2014 5:57:58 AM

News for speculators.
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Nancy&Len
Champion Author Cleveland

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Message Posted: Apr 3, 2014 5:57:49 AM

Prices at the pump are spiking around here.
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amgine27
Champion Author New York

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Message Posted: Apr 3, 2014 5:56:56 AM

Ok
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Hunter724
Champion Author New Hampshire

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Message Posted: Apr 3, 2014 5:54:57 AM

No Ethanol....
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Petrock
Champion Author Lexington

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Message Posted: Apr 3, 2014 5:54:43 AM

Oil inventories down ... gasoline inventories down ... ethanol inventories down ... WATCH OUT GAS PRICES!!!
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bills299
Champion Author Atlanta

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Message Posted: Apr 3, 2014 5:53:55 AM

Wow!
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RamboOn66
Champion Author Tampa

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Message Posted: Apr 3, 2014 5:53:46 AM

See, ethanol is bad fer ya.
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jeff95519
Champion Author California

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Message Posted: Apr 3, 2014 5:53:27 AM

E-0 for me
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friday21
Champion Author Toronto

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Message Posted: Apr 3, 2014 5:52:25 AM

Fcuk Ethanol!
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LeeFree
Champion Author Pittsburgh

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Message Posted: Apr 3, 2014 5:51:54 AM

Not affecting gas prices in this area, the same since February.
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rte3tdi
Champion Author New Hampshire

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Message Posted: Apr 3, 2014 5:51:39 AM

Get rid of ethanol.
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jadeusa
Champion Author Dallas

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Message Posted: Apr 3, 2014 5:47:33 AM

There should be a push to remove ethanol from gas or at least push it down to a max. of 5% from 10%. Get rid of the 15% right off the top.
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rcsteve23
Champion Author Ohio

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Message Posted: Apr 3, 2014 5:47:21 AM

O Well
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snell snail
Champion Author Atlanta

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Message Posted: Apr 3, 2014 5:47:19 AM

...BAN ethanol!!!!!!!!!!!!!!!!!!!!!!!!!!
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navy1954
Champion Author Georgia

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Message Posted: Apr 3, 2014 5:45:57 AM

Higher prices and still no valid reason.
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mikejapan
Champion Author Virginia Beach

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Message Posted: Apr 3, 2014 5:45:08 AM

$$$
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dc1552
Champion Author Virginia Beach

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Message Posted: Apr 3, 2014 5:43:50 AM

GET THE CORN OUT OF OUR FUEL!!!
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74celica
Champion Author Columbus

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Message Posted: Apr 3, 2014 5:42:53 AM

and prices shot up 20 cents since yesterday.
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Ferdman17
Champion Author Albany

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Message Posted: Apr 3, 2014 5:42:30 AM

Get rid of it...
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djp071158
Champion Author Detroit

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Message Posted: Apr 3, 2014 5:40:24 AM

and prices are up.
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AppinVA
Champion Author Richmond

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Message Posted: Apr 3, 2014 5:37:55 AM

Dump ethanol. Problem solved.
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gabisgram
Champion Author Michigan

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Message Posted: Apr 3, 2014 5:36:17 AM

Price is still 3.69 here.
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epf
Champion Author Grand Rapids

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Message Posted: Apr 3, 2014 5:35:59 AM

This report is always meaningless to me.
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f4driver
Champion Author Maine

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Message Posted: Apr 3, 2014 5:35:44 AM

Abolish ethanol.
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bradbeebe52
Champion Author Wilmington

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Message Posted: Apr 3, 2014 5:35:43 AM

OK
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valby
Champion Author Massachusetts

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Message Posted: Apr 3, 2014 5:35:14 AM

Sure.
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WR-INC
Champion Author Twin Cities

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Message Posted: Apr 3, 2014 5:34:40 AM

When they don't have enough ethanol, suspend the requirement to put it in.
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jacob5066
Champion Author College Station

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Message Posted: Apr 3, 2014 5:34:08 AM

Whatever
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hockey_24
Champion Author KW

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Message Posted: Apr 3, 2014 5:34:02 AM

dump ethanol
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Rick52
Champion Author Milwaukee

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Message Posted: Apr 3, 2014 5:32:37 AM

Stop Exporting Gas..
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