The true reason gas prices are declining..and it isn't being reported

[Uncensored2008]

"America has become in the last several years an energy-producing powerhouse. And sorry, Mr. President, I’m not talking about the niche “green energy” sources you are so weirdly fixated with.
Oil prices are falling because of changes in world supply and world demand. Demand has slowed because Europe is an economic wreck. But since 2008 the U.S. has increased our domestic supply by a gigantic 50 percent. This is a result of the astounding shale oil and gas revolution made possible by made-in-America technologies like hydraulic fracturing and horizontal drilling. Already thanks to these inventions, the U.S. has become the number one producer of natural gas. But oil production in states like Oklahoma, Texas and North Dakota has doubled in just six years."

"Without this energy blitz, the U.S. economy would barely have recovered from the recession of 2008-09. From the beginning of 2008 through the end of 2013 the oil and gas extraction industry created more than 100,000 jobs while the overall job market shrank by 970,000."

The True Reason Gas Prices are Falling Hint It s Not Because of Green Energy

While this is all true, there is more to the story.

Saudi Arabia has not reacted to lower prices. This seems strange. Russia and Venezuela are in serious economic trouble as a result of falling oil prices. Iran is also feeling the pinch, to a lower degree. So why has SA - and by extension OPEC not reacted? The answer is a belief that they can actually push oil prices down to a level that shale extracted oil is not profitable. They think they can break the backs of the Frackers. It is unlikely to succeed, as Fracking in North Dakota has a break even of about $60 a barrel - far below the $83 break even for SA.

Further reading at;

Exclusive Privately Saudis tell oil market- get used to lower prices Reuters

 

[Uncensored2008]

KG has twisted herself into a pretzel here. This POTUS has overseen an increase in oil production. She loves it......and hates it....at the same time.

Great threads are great.

So, Obama has promoted Fracking?

Isn't crediting Obama for the results of Fracking a bit like crediting the Catholic Church for the discoveries of Galileo?

Seems your little tin god actually had a different goal in mind;

{Gulf spill reignites fire behind cap-and-trade
With the massive negative publicity surrounding the current disaster taking place in the Gulf as a result of an oil rig explosion, the Obama administration is yet again hoping to re-open talks of passing a cap-and-trade bill. Obama believes that cap-and-trade would help to avoid future oil spills by pushing people away from using oil due to the dramatically increased costs through new taxes.

The Harvard Kennedy School's Belfer Center for Science and International Affairs suggested that it "may require gas prices greater than $7 a gallon by 2020" in order to meet Obama's proposed goal of reducing emissions by 14 percent in the transportation sector.


Read more: Harvard study says Obama seeks 7 a gallon gas New and Used Car Reviews Research Automotive-Industry News LeftLaneNews}

 

[koshergrl]

"America has become in the last several years an energy-producing powerhouse. And sorry, Mr. President, I’m not talking about the niche “green energy” sources you are so weirdly fixated with.
Oil prices are falling because of changes in world supply and world demand. Demand has slowed because Europe is an economic wreck. But since 2008 the U.S. has increased our domestic supply by a gigantic 50 percent. This is a result of the astounding shale oil and gas revolution made possible by made-in-America technologies like hydraulic fracturing and horizontal drilling. Already thanks to these inventions, the U.S. has become the number one producer of natural gas. But oil production in states like Oklahoma, Texas and North Dakota has doubled in just six years."

"Without this energy blitz, the U.S. economy would barely have recovered from the recession of 2008-09. From the beginning of 2008 through the end of 2013 the oil and gas extraction industry created more than 100,000 jobs while the overall job market shrank by 970,000."

The True Reason Gas Prices are Falling Hint It s Not Because of Green Energy

Funny, gas has went up twenty cents a gallon in the last week where I live. Although the news has reported it going down, it has done the opposite.

"Here's are five reasons that gas prices are about to plunge in the Northwest:

1. Domestic oil surge. Crude oil production, driven largely by a North Dakota boom, hasn't hit the current level since March 1986, Kloza said. However, only a trickle of that cheap North Dakota crude is making its way to Oregon and Washington. As a result, he said, the Northwest's gas prices will still remain a bit higher than the other parts of the country. Currently, the refineries producing gas and diesel for Oregon get most of their crude from Alaska's North Slope, Canada, Saudi Arabia, Iraq and Ecuador.

2. A switch to winter blend. On the West Coast, California refineries find themselves churning out two blends of gasoline — one to meet their home state's stricter clean-air standards and one to sell in the Northwest. Refineries will switch to the cheaper winter blends of gasoline next month. Polldaddy.com
3. U.S. refineries are humming like they haven't hummed in nearly a decade, according to the U.S. Energy Information Administration. Gasoline production, including at refineries in California and Washington, is at its highest level since the summer of 2005. Steady production without disruptions from hurricanes and mechanical issues means less volatility in the market.

4. Foreign crude prices have plunged more than $15 per barrel since June, when they peaked as the Islamic State militant group captured large swaths of oil-rich Iraq."

5 reasons why Oregon Washington gas prices are about to plummet toward 3 again OregonLive.com

I don't know where you live, but you are an anomaly.

 

[boedicca]

Because winter is coming and demand is less dummy.

From what I have read, global demand is waaaaaaay down which is why the stockmarket had its little quasi-correction recently. It is a bad economic omen. The canary in the coal mine as to what is coming. Rejoice for tomorrow we be bankrupt.

Europe is heading back into recession. China's fake growth is slowing. And the new cheap labor frontier, Africa, has Ebola outbreaks.

Yep. Demand is down.

 

[koshergrl]

"Price of gas at the Delta Sonic and the GetGo on upper Peach St plunged to $2.92 per gallon on Saturday, dropping 12 cents overnight.

"AAA says stockpiles from more oil production combined with flat demand have played the biggest roles in this year's price drop, and predicts that gas prices will continue to drop over the next month."

Gas Prices Plummet to Under 3 in Erie - WICU12 HD WSEE Erie PA News Sports Weather Events

 

[boedicca]

Isn't crediting Obama for the results of Fracking a bit like crediting the Catholic Church for the discoveries of Galileo?

Well done, sirruh!

 

[koshergrl]

"Gasoline prices in Hampton Roads have tumbled by about a dime per gallon over the past week, AAA said today. The decline is part of a months-long nationwide drop in gas prices.

"The local average for a gallon of regular gas is just under $2.86 today, down from about $2.96 a week ago. Today’s price is the lowest average for Hampton Roads since Dec. 8, 2010, according to AAA Tidewater Virginia. A year ago the local average was about $3.14 a gallon.

"Nationally, gas prices today average about $3.04, down 6 cents from the week before and down 25 cents from a year earlier. AAA said that 17 states, including Virginia, have average prices of below $3 a gallon."

Hampton Roads gas prices continue to plummet HamptonRoads.com PilotOnline.com

 

[Uncensored2008]

In spite of Obama, huh? Sweet!

Are you claiming that Obama has supported and promoted Fracking?

 

[Moonglow]

Not for those of us who have prepared (yet again) with plenty of liquidity in order to snap the belongings of the very stupid far right wingers

I learned the hard way in the 1980's...

 

[Moonglow]

In spite of Obama, huh? Sweet!

Are you claiming that Obama has supported and promoted Fracking?

Why should he have to...??

 

[Uncensored2008]

Why should he have to...??

Gee, maybe because he made the stupid claim that Obama is the reason for falling oil/gas prices.

You should huff less oven cleaner - you're reaching Franco levels of fucktardery these days.

 

[Roadrunner]

KG has twisted herself into a pretzel here. This POTUS has overseen an increase in oil production. She loves it......and hates it....at the same time.

Great threads are great.

Obama has nothing to do with increased domestic production; it is happening on private land not federal land.

And a huge part of the price decrease is because OPEC wants to halt this very domestic production by lowering the price enough to shut down marginally profitable US production.

But to give Obama any credit is a complete joke or a complete lie.

 

[Dot Com]

Thank you President Barack Hussein Obama (D)

 

[koshergrl]

When I un-ignore dottie, I realize I'm not missing anything at all.

 

[Roadrunner]

"America has become in the last several years an energy-producing powerhouse. And sorry, Mr. President, I’m not talking about the niche “green energy” sources you are so weirdly fixated with.
Oil prices are falling because of changes in world supply and world demand. Demand has slowed because Europe is an economic wreck. But since 2008 the U.S. has increased our domestic supply by a gigantic 50 percent. This is a result of the astounding shale oil and gas revolution made possible by made-in-America technologies like hydraulic fracturing and horizontal drilling. Already thanks to these inventions, the U.S. has become the number one producer of natural gas. But oil production in states like Oklahoma, Texas and North Dakota has doubled in just six years."

"Without this energy blitz, the U.S. economy would barely have recovered from the recession of 2008-09. From the beginning of 2008 through the end of 2013 the oil and gas extraction industry created more than 100,000 jobs while the overall job market shrank by 970,000."

The True Reason Gas Prices are Falling Hint It s Not Because of Green Energy

Funny, gas has went up twenty cents a gallon in the last week where I live. Although the news has reported it going down, it has done the opposite.

gone

Gone up.

Almost have to douche my eyeballs when I read "has went up" and the likes.

 

[Roadrunner]

Thank you President Barack Hussein Obama (D)

Can you tell us WTF Hussein had to do with it?

 

[Uncensored2008]

Thank you President Barack Hussein Obama (D)

Thank him for what, Dog Cum?

 

[koshergrl]

The article cited in the OP actually addresses how it isn't thanks to, but in spite of, Obolo the clown.

Read more, obololytes.

 

[Roadrunner]

Because winter is coming and demand is less dummy.

Oh yeah. People always demand less heating oil in the winter.

He is expecting a lot of global warming in places like Boston and NYC.

Me, I love those Yankee Clippers, Alberta Expresses and Polar Vortexs.

Nothing warms the hearts of Southerners like knowing Yankees are freezing.

 

[Roadrunner]

Because winter is coming and demand is less dummy.

From what I have read, global demand is waaaaaaay down which is why the stockmarket had its little quasi-correction recently. It is a bad economic omen. The canary in the coal mine as to what is coming. Rejoice for tomorrow we be bankrupt.

Europe is heading back into recession. China's fake growth is slowing. And the new cheap labor frontier, Africa, has Ebola outbreaks.

Yep. Demand is down.

Ebola was engineered in a Godless Red Chicom Gook gulag, to depopulate Africa so Chinese can occupy the land they are buying up.

Sorta like Hitler planned for Russia, only they have the sense to apply technology and finance instead of brute force.