gas prices, gas prices, and more gas prices.

To put that 94% in perspective, prior to the crash in oil demand, US refineries had run rates of 98-99%.

What’s crackin? US oil refiners going full throttle

 

Lord help us if we get a major hurricane in the Louisiana/Texas border coastal area this summer. We don't need any more blows to our refinery issues.

 

they could relax some pollution control standards

LNG Chanieere was knocked offline by fire so lng exports will be cut substantially. That should push nat gas prices in gulf coast down some.

Our lack of pipeline capacity to move marcellus gas to the NE is borderline criminal

 

Hide the sharpies and nuke them damn things away..or douse with bleach and flush with sunlight..Im so confused

 

Agree that we need more regional pipelines and refineries, at least until the Mr. Fusion hone units come on line

and batteries

 

Welcome to the Green New Deal. Enjoy your stay.

 

For a little context, virtually every large increase in the price of gas at the pump has been followed by a decline. The chances are that come 2024, the price of gas at the pump will be at least a dollar a gallon lower than it is today.

 

Which was never even reduced to a real legislative proposal much less ever enacted.

 

But if boomers had/have so much of their retirement money in equity (stocks) at their age then they received really bad financial planning advice.

 

And when he took office the unemployment rate was 6.4%.

 

Seems like somebody is starting to realize the price of oil isn't driving the price of fuel...not sure what kind of tools they have to help increase refinery capacity other than relax some of the most recent air pollution rules.

refinery in St Croix with 800k BPD, had a permit, operator didn't run plant properly, violated air permit (bad deal), went bankrupt, got bought out. new operator invested in new machinery but wants to operate under the existing permit rules. EPA says no, get a new permit with new standards. Meanwhile 800k BPD refinery capacity sits idle waiting to be fired up


Biden threatens oil companies with 'emergency powers' if they don't boost supply amid inflation spike (msn.com)

President Biden may resort to using emergency powers if American oil companies don't increase output at their refineries, the president told oil CEOs in a series of letters Wednesday.

Biden's statement blames oil companies for running "historically high profit margins" even as Americans experience surging gas prices. Biden has recently faced criticism for a lack of executive action aimed at curbing inflation.

"There is no question that Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing," Biden wrote. "But amid a war that has raised gasoline prices more than $1.70 per gallon, historically high refinery profit margins are worsening that pain."

"Your companies and others have an opportunity to take immediate actions to increase the supply of gasoline, diesel and other refined product you are producing," he continued. "My administration is prepared to use all reasonable and appropriate Federal Government tools and emergency authorities to increase refinery capacity and output in the near term, and to ensure that every region of this country is appropriately supplied."

 

So the 5% of refining deficit caused gas prices to double in 6 months?

 

Refinery constraints are a factor. But even if we did run at 100%, we couldn't for long. Refineries are taken offline every year for inspection and maintenance. Still, if we could improve refinery output, it will increase supply. Which should lower prices. Won't solve the biggest issue, which I believe to be the war in Ukraine, but more refinery output will help.

 

using up the spare capacity so nobody had excess to sell allowed them all to increase their prices to what market was willing to pay. refiners reduced capacity to be near demand due to increased EPA rules and more profit from biofuels. Once demand exceeded supply, price spiked, and it wasn't due to oil

Refinery costs did go up as nat gas went up as more LNG was being exported but with major LNG plant shut down by fire, nat gas prices will drop again so cost to refinery and to electric genertors should also drop as long as the export facility is closed. Of course, EU will now have to buy that gas from Putin since we can't help fill that much of the gap while shut down, makes one wonder about who profited from that fire. People shorting nat gas? Russia trying to disrupt alternate supplies to EU? Just an accident

It wasn't that long ago that nat gas was under $3. Want to know what was driving our economy, besides cheap money, it was cheap energy, due to cheap nat gas, that fueled industrial production

Natural gas plummets as Freeport delays facility restart following explosion (msn.com)

"[C]ompletion of all necessary repairs and a return to full plant operations is not expected until late 2022," the company said Tuesday in a statement. The facility, located in Quintana Island, Texas, had an explosion last Wednesday.

"Given the relatively contained area of the facility physically impacted by the incident, a resumption of partial operations is targeted to be achieved in approximately 90 days," Freeport LNG said.

U.S. natural gas fell about 16% to $7.22 per million British thermal units (MMBtu).

"The U.S. natural gas market will now be temporarily oversupplied as 2 bcf/d or a little over 2% of demand for U.S. natural gas has been abruptly eliminated," said Rob Thummel, managing director at Tortoise Capital.

 

That's very true. I bought gasoline in east Florida for $4.91/gal on Sunday, and then in west Florida for $4.53/gal on Monday.