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Author Topic: Refinery utilization rises, Midwest gasoline supply takes dive Back to Topics
PD

Moderator
Message Posted: Jun 4, 2014 10:35:24 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 3.4 million barrels to a total of 389.5 million barrels. At 389.5 million barrels, inventories are 1.8 million barrels below last year (-0.5%) and are near the upper half of the average range for this time of year.

GASOLINE INVENTORIES:
Gasoline inventories increased by 0.2 million barrels to 211.8 million barrels. At 211.8 million barrels, inventories are down 7.0 million barrels, or 3.2% lower than one year ago. Here's how individual regions and their gasoline inventory fared last week: East Coast (+1.4mb); Midwest (-1.5mb); Gulf Coast (-0.5mb); Rockies (+0.1mb); and West Coast (+0.7mb). It is important to note which regions saw increases/decreases as this information likely drives prices up (in the case

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Tundralimited2009
Champion Author Dallas

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Message Posted: Jun 8, 2014 7:49:17 AM

Great inventory
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honda0105
Champion Author Tallahassee

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Message Posted: Jun 8, 2014 7:36:27 AM

strakey: so whatcha suggest anyone (or our collectiveness) can do?
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FATMANN853
Rookie Author Detroit

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Message Posted: Jun 7, 2014 2:00:46 AM

It's a speedway effect
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agrico
Champion Author New Orleans

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Message Posted: Jun 6, 2014 9:18:50 PM

no comment - numbers don't lie
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Pete12
Champion Author Albany

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Message Posted: Jun 6, 2014 8:52:28 PM

If refinery utilization goes up oil reserves would naturally go down.
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strakey
All-Star Author California

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Message Posted: Jun 6, 2014 2:41:22 PM

I'm so tired of being manipulated...
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fedupp
Champion Author Cleveland

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Message Posted: Jun 6, 2014 7:44:06 AM

I guess spin is a good way to put it,all I see is a weekly record of them keeping the price high enough to frack for oil,and steam tar oil out.
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honda0105
Champion Author Tallahassee

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Message Posted: Jun 6, 2014 6:58:51 AM

Khelben: you took the words off my keyboard.
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fedupp
Champion Author Cleveland

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Message Posted: Jun 6, 2014 6:19:46 AM

Bill Clinton's oil for food program(1996-2003)actually helped keep oil/fuel prices down--remember the goal for north American oil developers since 1973 has been to drive the world market price of oil high enough to frack for oil,horizontally drill for oil,and steam tar oil out of sand pits(more extraction possiblilities)Clinton's oil for food program,and his meetings with OPEC helped bring oil prices down-his whole 8 years gas was cheap-1999 saw $14.00 per barrel,most of the rest of his time it was around $20.00 per barrel-Kiholt,it's good to see somone else that deals with reality.
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KhelbenArunson
Champion Author Michigan

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Message Posted: Jun 5, 2014 10:19:52 PM

Sounds like more bs spin by big oil.
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Blue48
Champion Author Illinois

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Message Posted: Jun 5, 2014 7:49:03 PM

REPEAT!
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lgwhitlock
Champion Author Chico

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Message Posted: Jun 5, 2014 7:32:02 PM

Another week another government sponsored speculation report...
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kiholt
Rookie Author Kalamazoo

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Message Posted: Jun 5, 2014 4:04:58 PM

Yep more refineries will not change the cost of gasoline and thats the truth but what was the biggest lie was the invasion of Iraq you remember oil for food HA . tar sands and fracking are very expensive and harmful to the environment . But here in MI gas just spiked to $3.99.9 a gallon - thats got speedway written all over it (GREEDWAY)
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fedupp
Champion Author Cleveland

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Message Posted: Jun 5, 2014 10:47:42 AM

You can put a brand new refinery on every corner with a pipe running to it-$102.00 per barrel oil is $102.00 per barrel oil,and WILL NEVER refine into cheap fuel-----we need $50.00 and under crude oil,at the very least($30.00 per barrel would be more like it)and people are dreaming if they think they are going to see $50.00 and under crude oil from north America-"our" lifting costs are more than that---that's why they shut down and split up Iraq's giant ocean of cheap oil,well that and several other major things that drove oil prices through the roof--without sky high prices,fracking for oil,and steaming tar oil out of sand pits is impossible,they have been trying to accomplish this goal(high enough prices for north American oil resources to become economically viable)for 4 decades.
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rrs517
Champion Author Colorado

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Message Posted: Jun 5, 2014 10:11:13 AM

This is a contrived shortage - build more refineries. Gas prices in IN and OH can spike 40-50 cents overnight.
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85XJ
Champion Author Toledo

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Message Posted: Jun 5, 2014 9:53:23 AM

Midwest inventory level is comparable with where it was back at the first of the year, I'd be interested to see the implied demand by region.
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No1ConMan
Champion Author Memphis

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Message Posted: Jun 5, 2014 9:52:59 AM

Glad to see it's up!
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fedupp
Champion Author Cleveland

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Message Posted: Jun 5, 2014 9:13:16 AM

For some strange reason most Americans think that cheap oil comes out of the ground somewhere north America like it does in Iraq,Venezuela,Iran,Kuwait,Saudi,UAE,ect.ect.ect? and the oil corporations are just ripping us off?!?! Nothing could be further from the truth----first of all north America has no source of cheap oil,what north America has is expensive to access tundra oil,deep ocean oil,and even more expensive frack oil,and sand tar oil---without sky high manipulated world market oil prices, most of these "resources" are nowhere near viable----the true oil rich nations can easily put $20.00 per barrel market price crude oil on the world market(when our government lets them)----the lifting costs alone of frack/shale oil and sand tar oil are three to four times that much---if the middle east and Venezuela were allowed to operate on a fair world market-without all out war,sanctions,propaganda campaigns,trade law changes,the manipulated world market price of crude oil would soon go too low to frack for oil,and steam tar oil out of sand pits,and the price of crude would be cut in half-at least.The simple way to put this is:there is no way to get cheap fuel out of the most expensive oil resources on earth--it all starts with cheap oil,and "we" don't have any.
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scu227
Champion Author New Haven

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Message Posted: Jun 5, 2014 8:40:02 AM

MANIPULATION, SPECULATION & GREEEEEEEEEEEEEEEEEEEEEEEED !!!!!!!!!!!!
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fedupp
Champion Author Cleveland

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Message Posted: Jun 5, 2014 6:39:14 AM

Damn 1988MR2guy gets all the credit!,I write about the trade law changes being one of the main problems with sky high oil/fuel prices almost everyday-I still,and will always go with the ridiculous lifting costs of frack/shale and sand tar oil being by far the biggest problem,but the trade law changes(along with all out war,lies,sanctions,propaganda campaigns,ect)helped drive the manipulated world market price of crude oil high enough to frack for oil,and steam tar oil out of sand pits in the first place,so one of the first steps to getting back to affordable fuel is to change the law back,then of course we would need to buy cheap oil from where cheap oil comes from--like we did before the Iraq war,propaganda war on Venezuela,sanctions on Iran,the trade law changes,ect.(I don't care what anybody says,we will never see cheap oil/fuel out of fracking,and or steaming tar oil out of sand pits)The higher the price of oil,the more extraction possibilities--that's how you get frack and tar oil-not the other way around.
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kgbellman
Champion Author Ann Arbor

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Message Posted: Jun 5, 2014 5:07:33 AM

Not good =that's plenty reason for them to increase prices
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Nancy&Len
Champion Author Cleveland

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Message Posted: Jun 5, 2014 5:04:07 AM

We're right a around $4.00 now so we should probably see an increase this week.
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gaspumpin
Champion Author Indiana

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Message Posted: Jun 5, 2014 4:59:56 AM

Confusing.
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Foxt
Champion Author Minnesota

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Message Posted: Jun 5, 2014 4:58:56 AM

Next two articles have the "Message Forum - Topic does not exist" on them.
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Ziggy1962
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Message Posted: Jun 5, 2014 4:58:31 AM

Old news.
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Foxt
Champion Author Minnesota

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Message Posted: Jun 5, 2014 4:57:09 AM

Does this info really matter?
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otherdave
Champion Author Indiana

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Message Posted: Jun 5, 2014 4:56:41 AM

OLD NEWS
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werich44
Champion Author California

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Message Posted: Jun 5, 2014 4:55:24 AM

The madness continues.
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joelas
Champion Author Cleveland

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Message Posted: Jun 5, 2014 4:54:55 AM

industry created to send up demand around holiday period when more gas is used less is produced. Remember Enron created demand by limiting supply to raise prices. When has a refinery not produced a profit. Theirs is a pass through and increases are a % not pennies.
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TravelinMan52
Champion Author Augusta

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Message Posted: Jun 5, 2014 4:54:51 AM

Our prices are pretty steady. There are a couple that are willing to take a chance, and actually lower prices a penny or even two...
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Royski
Champion Author Los Angeles

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Message Posted: Jun 5, 2014 4:52:09 AM

Good the refineries are working more,
but what about prices coming down?
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BEngr
Champion Author Illinois

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Message Posted: Jun 5, 2014 4:52:07 AM

I'm still amazed we keep exporting some of the same oil products we are importing. This doesn't make good sense unless its only to make money.
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Beau2140
Champion Author New York

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Message Posted: Jun 5, 2014 4:51:52 AM

Our prices dropped yesterday.
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Rick52
Champion Author Milwaukee

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Message Posted: Jun 5, 2014 4:51:05 AM

The Traders are screwing us...Why always the Midwest ??
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F22Raptor
Champion Author Los Angeles

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Message Posted: Jun 5, 2014 4:50:33 AM

Consumers get shafted.
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chuckwthompson
Champion Author Charlotte

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Message Posted: Jun 5, 2014 4:47:43 AM

Prices on the rise.
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texashoudini
Champion Author Austin

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Message Posted: Jun 5, 2014 4:46:03 AM

Another reason to raise gas prices.
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torch7
All-Star Author Indiana

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Message Posted: Jun 5, 2014 4:45:48 AM

agree with 1988mr2guy
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epf
Champion Author Grand Rapids

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Message Posted: Jun 5, 2014 4:45:01 AM

I understand we are due for a price increase in the MidWest either today or Friday.
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Countryman2013
Champion Author Pensacola

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Message Posted: Jun 5, 2014 4:44:00 AM

News for nerds???
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hybridaholic
Champion Author Appleton

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Message Posted: Jun 5, 2014 4:43:50 AM

They picked on the Midwest last year, find another area of the country to screw with.
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1fulltank
Champion Author Buffalo

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Message Posted: Jun 5, 2014 4:38:46 AM

Makes no sense.
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fratt
Champion Author Grand Rapids

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Message Posted: Jun 5, 2014 4:36:44 AM

Great post 1988MR2guy.
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ByGuy
Champion Author Dallas

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Message Posted: Jun 5, 2014 4:36:13 AM

Too many variables.
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twobroke61
Champion Author Michigan

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Message Posted: Jun 5, 2014 4:32:57 AM

inventories don't matter price at the pump matters in the wallet
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Bussman
Champion Author Dallas

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Message Posted: Jun 5, 2014 4:32:19 AM

Meaningless.
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BigDogOH
Champion Author Cincinnati

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Message Posted: Jun 5, 2014 4:30:43 AM

Were all at the mercy of the pump price.
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jci25946
Champion Author Tampa

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Message Posted: Jun 5, 2014 4:28:13 AM

Supply figures don't effect prices unless they want them to.... gas prices????
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iGas38
Champion Author Portland

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Message Posted: Jun 5, 2014 4:22:19 AM

Gasoline prices should fall with increased inventories.
SSDD!
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mediccoy
Champion Author North Carolina

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Message Posted: Jun 5, 2014 4:19:36 AM

Same story different day.
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