2014 Gasoline Price Forecast

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Meghan54

Lifer
Oct 18, 2009
11,684
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Ethanol is also a very effective anti knock agent, but I'm sure that has nothing to do with why it is used.


I think the main reason ethanol's use has become so pervasive is from legislation that requires its use, or something like it, in yearly increasing amounts.

Remember, one of the provisions of the Energy Policy Act of 2005 created the Renewable Fuel Standard. The Renewable Fuel Standard required transportation fuel sold in the United States to contain a “minimum volume of renewable fuels.” This increased the amount of biofuel (usually ethanol) that must be mixed with gasoline sold in the United States to 4B gallons by 2006, 6.1B gallons by 2009 and 7.5B gallons by 2012http://en.wikipedia.org/wiki/Energy_Policy_Act_of_2005#cite_note-3.

Then, two years later, the effect was greatly enhanced by provisions in the Energy Independence and Security Act of 2007, which sought, as one of its goals, to reduce the country’s dependence on foreign oil. It did this by extending the target to 36B gallons by 2022.

Just unfortunate ethanol was already in use in our gas supply. May not have been the best choice, given the choice of corn as the fermentation base. Wish we'd had expanses of sugar cane like we have corn.
 

cabri

Diamond Member
Nov 3, 2012
3,616
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81
Many stations outside of Chicago (a place that Dave likes asan example) are now below $3
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
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91
www.alienbabeltech.com
Article reminding Americans just how closely tied to the Oil Sand Thugs Republicans are:

10-21-2014

http://www.huffingtonpost.com/raymo...resi_b_6020330.html?ncid=txtlnkusaolp00000592

Oil Prices Plunging! President George H.W. Bush Where Are You As We Need You!



To the deep consternation of the oilogopoly and their kindred and influential allies in government and finance the price of oil has been dropping precipitously. Venezuela, where a gallon of gasoline costs pennies is reeling, Saudi Arabia where their current national budget is under strain, not to speak of the budgets of Iran, UAE, Kuwait et al. What to do and to whom to turn?

With oil prices cratering one man has been there before and decisively changed the course of the oil markets and touched the edges of history. Little known and little remembered was the intercession of then Vice President George H.W. Bush the erstwhile Texas oilman who almost single handedly turned an even more dramatic collapse in the oil market around, in an act of brazen diplomatic manipulation.



In 1986 the internationally quoted price of oil veered near and less than $10/barrel, a price that placed U.S. oil producers under pointed pressure. Sensitive to their plight, our then Vice President of the United States cloaked himself in the mantle of his deep Texas oilman roots and organized a trip to Saudi Arabia to converse with Saudi's King Fahd. The purpose of Mr. Bush's meeting was to focus on bolstering oil prices and to enlist Saudi Arabia, as the world's leading oil producer and OPEC's defacto leader, to support the price of oil by cutting its production and imposing discipline among its OPEC brethren.



Bush's objective to achieve market conditions that would raise the price of crude from the then $10/bbl level to a $17bbl/$19bbl range. That objective was achieved within six months of Bush's meeting with King Fahd.


America's tolerance of OPEC's subsequent rapaciousness was to cost billions upon billions to the economies and citizen consumers of the United States and throughout the world while Saudi Arabia and its OPEC cabal gathered riches beyond the wildest dreams of Croesus
 

Pulsar

Diamond Member
Mar 3, 2003
5,224
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Originally Posted by dmcowen674 View Post
Come on now.
I was out there in 2006 when oil rigs everywhere were shuttered rusting and rotting.
They will shut them down again as history always repeats itself.



Third time I've asked, with zero response from zippy the wonder slug.

Where, exactly, were these rigs being 'shuttered', rusting and rotting?
 

dmcowen674

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My Fans must be shitting in their pants, the price drops have stopped and that means only one thing.

As we say on an elevator "Going Up".
 

IndyColtsFan

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My Fans must be shitting in their pants, the price drops have stopped and that means only one thing.

As we say on an elevator "Going Up".

Hey look, Dave the Coward provided a nice list of the people who have owned him lately. Bravo!
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
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Here is another tell tale sign that like the Rolling Stones say, going up up up up

10-21-2014

http://finance.yahoo.com/news/investors-pile-oil-funds-fastest-192051617.html

Investors Pile Into Oil Funds at Fastest Pace in 2 Years



Investors are putting money into funds that track oil prices at the fastest rate in two years, betting that crude will rebound from a bear market.


The four biggest oil exchange-traded products listed in the U.S. have received a combined $334 million so far this month, the most since October 2012, according to data compiled by Bloomberg. Shares outstanding of the funds, including the United States Oil Fund (DBO) and ProShares Ultra Bloomberg Crude Oil, rose to 55 million yesterday, a nine-month high.



The US Oil Fund (USO), the biggest oil ETP, received $101.9 million. The fund, which tracks WTI prices, gained 0.6 percent to $31.33


The ProShares fund, which follows the Bloomberg WTI Crude Oil Subindex (BCOMCL), saw $192.7 million flow in. Shares gained 1.5 percent to $24.99


WTI for December delivery is about 50 cents more expensive than the January contract. This structure, known as backwardation, allows ETPs like the U.S. Oil Fund to own more barrels of crude each month as it sells the expiring futures and buys the less expensive next-month contract. The value of the fund increases more if futures then rise.
 

dmcowen674

No Lifer
Oct 13, 1999
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Member call out removed. Please refrain from attacking another member right in your OP.

Perknose
Forum Director



10-21-2014

http://thinkprogress.org/climate/2014/10/21/3582480/north-dakota-spill-one-year-later/

‘It Will Never Be The Same’: North Dakota’s 840,000-Gallon Oil Spill One Year Later



One year ago, when more than 20,000 barrels (840,000 gallons) of crude oil spilled from a pipeline and soaked a wheat field in Tioga, North Dakota, the public almost never knew about it. After the spill was discovered by a lone farmer, it was not reported for nearly two weeks, and only after reporters from the The Associated Press asked about it specifically.


To this day, the farmland is still sopped with oil, and Tesoro is still working to clean it up. “It’s a big cleanup and it’s become part of our life,” Jensen told the AP on Monday. “The ground is still saturated with oil. And they’re out there seven days a week, 24 hours a day.”


Tesoro has said it is committed to cleaning up the spill and “making things right.” But the fact that the company didn’t know what had happened, and that such a large release of oil into the environment took so long to be discovered and reported, sparked outrage at the time of the incident. The



AP conducted an investigation after the spill, and found that nearly 300 oil spills and 750 “oil field incidents” had occurred in North Dakota since January 2012 — none of which were reported to the public.

Tesoro’s pipeline is regulated by the federal Pipeline and Hazardous Materials Safety Administration (PHMSA). But even the director of that agency has admitted that it faces extreme difficulty in enforcing their regulations. PHMSA head Jeffrey Wiese said last year that the agency has “very few tools to work with” in enforcing safety rules, and that the regulatory process surrounding pipelines is “kind of dying.”

Schaffer said there has been somewhere in the neighborhood to 1,500 to 1,600 incidents of contamination by oil, gas, and wastewater from pipelines and well sites in 2013 — most of which were small, and none of which were as big as the Tesoro incident. But what that proves to him is that pipeline infrastructure needs to be updated, more pipeline inspectors need to be on the ground, and new technologies need to be implemented to monitor both the condition of the pipelines and whether an accident has occurred.


“We don’t have those things in place, and we should,” he said. “Oil companies are making a lot of money in North Dakota, and they should be spending money to put these safeguards in place so we don’t have people’s health and safety at risk.”
 
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Londo_Jowo

Lifer
Jan 31, 2010
17,303
158
106
londojowo.hypermart.net
Yet another call out thread based on BS, the company for whom I work manufactures industrial steam turbines and compressors. It's not involved in the manufacture or installation of pipelines.

I've been working for the same company for 24 years, incompetent people get fired for misuse of company equipment/property.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Right on cue, they are going up up up

I haven't been out yet today but got a call from a friend driving north of Indy and he asked me if the shooting in Canada today is the reason for the 25 cent jump in gas today.

10-22-2014

http://www.ftwaynegasprices.com/


Fort Wayne
Pre-Hike Average
2.95
Price Hike Alert
Projected Average
3.19



Gas Prices could be jumping in your area


 

Pulsar

Diamond Member
Mar 3, 2003
5,224
306
126
Right on cue, they are going up up up

I haven't been out yet today but got a call from a friend driving north of Indy and he asked me if the shooting in Canada today is the reason for the 25 cent jump in gas today.

10-22-2014

http://www.ftwaynegasprices.com/


Fort Wayne
Pre-Hike Average
2.95
Price Hike Alert
Projected Average
3.19



Gas Prices could be jumping in your area



Run away little man. Put some more people on ignore.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Just drove to work and all the stations on the Northwest side of Indy I pass are now at $3.19 as well.

Once again posts by me showing that the price will go up while the protected Oil Thug supporters and my biggest Fans are clearly wrong over and over again for the world to see.

They must get off on being on the wrong side of history.
 

Sulaco

Diamond Member
Mar 28, 2003
3,825
46
91
So what has my adoring Fans used as an excuse for this jump?

There is a big storm in the Gulf?

The shooting in Canada?

My Cat farted?

Perhaps if you unblocked the dozen or so people you arbitrarily 'ignore' for disagreeing with you, you could read their often very well-reasoned responses and rebuttals.

But that might require a smidgen of character and honesty from you, so no one is holding their breath.
 

ivwshane

Lifer
May 15, 2000
33,255
16,576
136
Perhaps if you unblocked the dozen or so people you arbitrarily 'ignore' for disagreeing with you, you could read their often very well-reasoned responses and rebuttals.

But that might require a smidgen of character and honesty from you, so no one is holding their breath.

I saw his list, "reasoned responses", is not something they are capable of
 

Pulsar

Diamond Member
Mar 3, 2003
5,224
306
126
I saw his list, "reasoned responses", is not something they are capable of

Just wait. All you have to do is disagree with him and prove him wrong a couple times, and then you'll be on the list too.

The most amazing part is that he doesn't understand he's actually undermining his own position. He's such a loon that people coming for real information would spend 30 seconds reading it and then stop and go elsewhere. He's on the level of incorruptible, or michael1980, or lemon law (where'd he go,anyway?).
 

soundforbjt

Lifer
Feb 15, 2002
17,788
6,041
136
I was driving in iOwa the other day, I passed a station that had gas @ 2.77. Told myself to fill up on way back, Two hours later it was 2.99 ! Filled up anyway, still cheaper than back home.
 
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