Oil headed for 70 bucks s barrel. Here we go.

Yosemite Sam1 wrote:
Or even gas, Great Britiain is set on date certain to also ban ICE with Scotland wanting a more aggressive and earlier timetable. Besides, in Northern Europe more than half of the car sales are already electric.

The sooner the better. More for us!

I wonder what % of electricity in the US is made with fossil fuel and nukes? :B

I drove my new (to me) RV back from Phoenix to Dallas Christmas Eve. The "oil field' activity with rigs, groupings of motorhomes/RVs for workers etc started about 100 miles west of Odessa, it continued solid through Odessa, through Midland, and probable close to 100 miles East of Midland. They have been drilling in this area for years, and they are still drilling, its not an "oil field", thats a sea of oil, and thats just what I could see from I-10, i understand it goes north another 200 miles. I was amazed, we do have a LOT of oil in the US

wanderingaimlessly wrote:


And as far as eliminating oil consumption now, I'll do my part in keeping the jobs market going, buying a new truck in the next month or so.

Do it, and get the biggest guzzler of 'em all for your grocery hauling.

Get the diesel, since there will be definitely oversupply of it with Europe banning diesel cars.

Or even gas, Great Britiain is set on date certain to also ban ICE with Scotland wanting a more aggressive and earlier timetable. Besides, in Northern Europe more than half of the car sales are already electric.

wanderingaimlessly wrote:
Bigger concern will be electrical power availability, especially out west.

Trump administration says it will approve largest U.S. solar farm

midnightsadie wrote:
strange its still $2.29 here in canton ohio. diesel is $3.09 what ever was done needed done I for one am glad he had the guts to stand up and fight.

Agreed

ford truck guy wrote:
we cannot sit back worried about oil prices while American lives were at risk... We are better off now then we have been in a long time with our oil, that should not make our decisions for us.

Yep!

We will do what is needed. War? Not a chance. Simply push a few buttons and it’s game over!

Bigger concern will be electrical power availability, especially out west.
As oil moves, so too does Natural Gas, and with overly ambitious local governments trying to legislate themselves into unlimited power.
Will be interesting seeing how they attempt this. Since they don't want nuclear, cant maintain lines well enough to remote generate all that they need, and moving solar closer to urban centers runs into exorbitant land cost. How to create the power closer to where they need it, yet avoid all the carbon that they dream of eliminating.

And as far as eliminating oil consumption now, I'll do my part in keeping the jobs market going, buying a new truck in the next month or so.

Yosemite Sam1 wrote:
My Gas Buddy says they adjusted the pump price midnight last night.

Oil companies are never shy in making obscene profit on their inventories bought on old prices.

You got that straight. What is even worse is the percentage of the oil that comes from that part of the world (Very small very very small, most oil burned in the US is North American (US/Canada) In fact thanks to CAFE (Corporate Average Fuel Economy) rules and some other stuff we could tell the Saudi's to stuff it and still have enough oil just from US and Canada production.. but Well.. OH THE PROFIT in overcharging .

strange its still $2.29 here in canton ohio. diesel is $3.09 what ever was done needed done I for one am glad he had the guts to stand up and fight.

Cummins12V98 wrote:
Since the US is oil independent ain't going to happen.

1) we may be oil independent, but that doesn't mean the price is independent of world oil prices for equivalent oil, it tracks it pretty well, and oil royalties are based on the benchmark price for equivalent oil.
2) we (US) doesn't presently have the capability of using only domestic oil since much of our refinery capacity is based on refining the heavy crude we used to rely on, and still rely on given refinery capability. Much of the shale that has come on line is a lighter "sweet" crude. Takes a different refinery setup.

Now, since the world oil supplies are much more distributed, loosing any one supply doesn't have near the impact it did in the 70's.