North America to Drown in Oil as Mexico Ends Monopoly

qtla9111 wrote:
Today, Forbes published there most corrupt persons list. The Pemex union leader, Deschamps, was listed as one of Mexico's top 10 most corrupt.

To be fair, it's a "Most Corrupt MEXICAN People" list, as the link indicates....

I guess they split 'em off from the rest of North America so they'd have a fighting chance to appear in the top ten! :B

The only reason why oil prices are pushed down is because of the technologies waiting in the wings like oil shale. If oil goes above $125/bbl, oil shale becomes profitable to research and make into usable crude.

MEXICOWANDERER wrote:
You folks that believe crude oil abundance will cause a price slash are dreaming.

:B

My "Magic Eight Ball" attempt at irony missed by a mile, I guess...

My Magic Eightball wrote:
Prices at the pump will be slashed, bringing relief to the long-suffering consumer.

You folks that believe crude oil abundance will cause a price slash are dreaming.

Can you imagine what a 50% reduction in 8.75% sales tax on gasoline would do to California's fiscal budget? HAR HAR HAR

A "problem" in a light oil processing unit can serve to reduce gasoline and diesel output by 50%. If you don't believe oil companies do not hold "meetings" to discuss supply and demand amongst themselves then I feel sorry for you.

Refiners REGULARLY hold meetings under the guise of "Coordinating Maintenance Turnaround Shutdowns".

Excess oil? Japan and China wait with yawning tanks...

Today, Forbes published there most corrupt persons list. The Pemex union leader, Deschamps, was listed as one of Mexico's top 10 most corrupt.

The 10 Most Corrupt Mexicans Of 2013

Paid $2.999 at Costco in Tucson Sunday for our Hybrid. Won't stay there because of the push by States & Feds to raise the fuel tax. AZ even wants to charge a yearly fee for All Electric & Hybrid vehicles because they don't use enough fuel. Some states, AZ one of them, is collecting less fuel tax than in years past so not enough money to take care of AZ roads. Anyway that is what they say. We sure have more traffic than ever. We're saving $150 per month in fuel cost with the Hybrid over last year's fuel usage based on this year's cost/gal.

rocmoc n AZ/Mexico

Mine was $2.209 yesterday, but that was with a 75 cents discount from points from Kroger.

Price has been hovering between $2.95-3.15 for the past four months in the Dallas area.

However - the post about $75 per barrel oil is correct.

Folks say "Drill baby, Drill" but don't realize that the cost of new oil is expensive. $75 per barrel is about the minimum for a new well to be profitable. A little more for off-shore drilling.

Lots of opinions here and good ones too. For me, it opens a new era for Mexico. I will be interested to see what happens to Deschamps (leader of Pemex) and all his cronies in the union. If you're wondering why there has been an .08 monthly increase for the last two years it is because of the union. They have milked the company dry. I could write a laundry list of where all that money goes. (I'm not against unions, I'm against corruption in unions).

For most Mexicans, this is very good news. As of yesterday morning only 16 states voted for the Reforma Energetica, overnight another five states were added. I think that sends a message. Only time will tell.

Pump prices will not drop any meaningful amount. The USA refineries are already selling an amount of refined fuels in the World Spot Market equal to the the amount of crude oil imported into the USA. This causes an artificial short supply in the USA market supporting the higher prices. We will never see cheap affordable fuel prices as it is a Global Market. Mexico will learn from there neighbor to the North and will follow suit. When their crude capacity is increased, it too will be sold on the World Market. The only difference is a portion of the revenues goes into funding the government but in the future BIG Oil Companies will also get a cut. Even the Mexican people will see little or no help at the pump. We budge $4/gal ourselves, "for now".

Plus in the USA you have the players, Hedge Fund & Speculators that have moved heavily into the Commodities Market in the last few years. The Robber Baron era has returned in the USA!

rocmoc n AZ/Mexico