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Offline Lee Borgersen

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Re: US gas prices riseing
« Reply #90 on: April 23, 2019, 09:25:57 AM »
Gas prices hit $4.70 per gallon in :crazy: California as Trump says he’ll end Iran sanction waivers.
 :reporter;
4/23/19

 :coffee: ......
President Trump announced Monday that he will put a stop to exemptions for countries that are still buying oil from Iran, the world’s fourth biggest oil producer.
On Monday, Trump tweeted: “Saudi Arabia and others in OPEC will more than make up the Oil Flow difference in our now Full Sanctions on Iranian Oil. Iran is being given VERY BAD advice by @JohnKerry and people who helped him lead the U.S. into the very bad Iran Nuclear Deal.”

The U.S. had granted eight countries a 180-day waiver to buy Iranian crude oil, despite existing U.S. sanctions on the country. May 2 was the deadline for renewing those waivers. U.S. allies, plus Turkey, Japan, South Korea, India and China will no longer have waivers to buy oil from Iran.
 
“The Trump administration and our allies are determined to sustain and expand the maximum economic pressure campaign against Iran to end the regime’s destabilizing activity threatening the United States, our partners and allies, and security in the Middle East,” the White House said Monday.
National gasoline futures jumped by 7 cents a gallon in a matter of hours. Gasoline prices have already reached as high as $4.70 a gallon in some parts of California, according to the American Automobile Association. “Gasoline is moving aggressively higher,” said Philip Streibel, energy-market strategist at futures brokerage firm R.J. O’Brien.
“We’re seeing crazy prices for gasoline out here in California,” added Karl Brauer, economist for Kelley Blue Book. In some places, he said, “they’re nearing $5.” To be sure, those prices are outliers, economists say, and California is the country’s most expensive gasoline market, due to taxes, other costs, and environmental regulations.

But the statewide average had already broken above $4 a gallon. The national average was $2.84 before Monday’s news. “We (could) possibly see gasoline prices flirting with $3 a gallon over the summer” if global supplies tighten, said Jeanette Casselano, a spokeswoman at the American Automobile Association. “I think we’re going to start to see an immediate impact.”

Last year, when the first rumors broke about sanctions, they caused a surge in oil and gasoline prices. The national average at the start of the year was just $2.23 a gallon.
“This decision to bring Iran’s oil exports to zero, denying the regime its principal source of wealth,” said White House spokeswoman Sarah Huckabee Sanders in a statement. Israeli Prime Minister Benjamin Netanyahu immediately cheered the news.

There was an immediate reaction in the financial markets, which try to predict where gasoline prices are headed. The president’s move will add 7 cents a gallon to gasoline in May, 6 cents in June and 5 cents through the rest of the summer, according to the initial moves at the CME futures market.

Early Monday, the price of West Texas Intermediate crude oil increased by nearly $2 per barrel to nearly $66. Jim O’Sullivan, chief economist at High Frequency Economics, a U.S.-based economic research consultancy, says each $10 rise in crude oil adds about 24 cents to a gallon, and 0.3 percentage points to the official Consumer Price Index.
Iran is a massive player in the oil market. It’s the world’s fourth largest producer of oil, pumping five million barrels a day or about 5.4% of global supply, according to data compiled by oil giant BP (BP) Cutting off some or all of that would have an outsized effect on prices because the markets are so finely balanced between supply and demand, say economists.

A mere 3% rise in world oil demand between 2005 and 2008 helped double crude oil prices, BP data show. And a 5.6% surge in production between 2013 and 2015 caused oil prices to collapse by about two thirds.
James Bianco, head of Bianco Research, warns that oil and gasoline prices will shoot a lot higher if the market starts to believe the sanctions will actually work. Right now, he says, the price reactions have been muted because markets think Iranian oil will still find it’s way to the market, just as it did during the hostage crisis of 1979-1980. “There is a belief that it will get out,” he says.

Iran’s biggest oil customers are China and India. But anyone who thinks sanctions will only affect them is likely to be disappointed, say economists. Oil is a commodity, meaning one barrel is the same as another, and the market is global.
If India and China can’t get their oil from Iran, they will have to get it from somewhere else. If the global price goes up, “American” oil companies — meaning multinational oil companies that happened to be domiciled in the U.S. — will charge U.S. consumers the same as anyone else.
 
Bianco says higher oil prices are a net positive for the U.S. economy, because the U.S. is now on a par with Saudi Arabia as an oil producer. U.S. oil output has roughly doubled in 10 years, he says, from around six million barrels a day to 12 million barrels a day.
The sanctions are good news for Saudi Arabia and Russia, which are heavily dependent on oil exports. They’re also excellent for oil companies, including such U.S. bellwethers as Exxon (XOM) and Chevron (CVX)

Among sector exchange-traded funds, the Energy Select Sector SPDR exchange-traded fund (XLE) which invests in U.S. energy companies, and the iShares Global Energy ETF (IXC) include major overseas energy companies.


      :reporter; Now fur da good news! :popcorn:...


                                                  :sorry:

 :violin:   Ain't Got None :pouty:
« Last Edit: April 23, 2019, 09:30:36 AM by Lee Borgersen »
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Online glenn57

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Re: US gas prices riseing
« Reply #91 on: April 23, 2019, 09:29:07 AM »
yep, its donny's fault!!!!!!!!!! :tut: :tut: :pouty: :pouty:

there's a 10 cent per gallon difference between cold spring and monticello holiday gas stations, and cold spring isnt the cheaper of the 2!!!!!!! :confused: :confused: :confused:
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Offline Rebel SS

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Re: US gas prices riseing
« Reply #92 on: April 23, 2019, 09:31:38 AM »
Gas is five-ten cents more on the north end of town here...always has been.  :confused:

Offline Lee Borgersen

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Re: US gas prices riseing
« Reply #93 on: April 23, 2019, 09:42:42 AM »
yep, its donny's fault!!!!!!!!!! :tut: :tut: :pouty: :pouty:

there's a 10 cent per gallon difference between cold spring and monticello holiday gas stations, and cold spring isnt the cheaper of the 2!!!!!!! :confused: :confused: :confused:

Yep it's all Donny's fault  :bonk: When in doubt blame OL Donny :rotflmao: Why can't he just let all dose rouge nations just run a muck and get away wit everything :surrender: He should just fill 2 cargo planes filled wit cash and gold (yers and mine tax dollars) ta all dem scum bag nations to buy der friendship. like Da Great Obama did :bow:
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Online glenn57

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Re: US gas prices riseing
« Reply #94 on: April 23, 2019, 09:58:04 AM »
Why not blame him, it's all you and day udder guy did under the last guy. :confused: :doah: :sleazy: :rotflmao:

Oh and a fine good day to you sir!! :nerd:  don't you gotta go chase some worms anaways! :happy1:
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Offline Lee Borgersen

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Re: US gas prices riseing
« Reply #95 on: April 23, 2019, 10:12:22 AM »
Why not blame him, it's all you and day udder guy did under the last guy. :confused: :doah: :sleazy: :rotflmao:

Oh and a fine good day to you sir!! :nerd:  don't you gotta go chase some worms anaways! :happy1:


Come on Glenn! Yer just jealous dat Trump was found guilty of nuttin!
:rotflmao: :rotflmao:

As fur da worms it's just a tad to early. However wit da rising temps and a few tunder storms It will happen soon. Anyhow tanks fur askin.  I may put ya on my mailing list fur worm repports.  Dis way ya can be da first on yer block ta get all da updates as day happen!  :happy1: :rotflmao: :rotflmao:
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Re: US gas prices riseing
« Reply #96 on: April 23, 2019, 10:21:28 AM »
Why not blame him, it's all you and day udder guy did under the last guy. :confused: :doah: :sleazy: :rotflmao:

Oh and a fine good day to you sir!! :nerd:  don't you gotta go chase some worms anaways! :happy1:


Come on Glenn! Yer just jealous dat Trump was found guilty of nuttin!
:rotflmao: :rotflmao:

As fur da worms it's just a tad to early. However wit da rising temps and a few tunder storms It will happen soon. Anyhow tanks fur askin.  I may put ya on my mailing list fur worm repports.  Dis way ya can be da first on yer block ta get all da updates as day happen!  :happy1: :rotflmao: :rotflmao:
:rotflmao: :rotflmao: :rotflmao: it taint over till da fat lady sings  :happy1: :happy1: or his wife dumps da trump!!!!! :rotflmao: :rotflmao:
2015 deer slayer!!!!!!!!!!

Offline Rebel SS

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Re: US gas prices riseing
« Reply #97 on: April 23, 2019, 02:02:11 PM »
Better get it now! Jumping to $2.84 here, Gas Buddy says it's rising right now.....
I slid in under the wire at $2.79 and used my last ten cents off a gallon coupon for $2.69. Still $55 for a half tank on Mr. Hog Sparkles.  :censored:

Offline Lee Borgersen

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Re: US gas prices riseing
« Reply #98 on: April 23, 2019, 02:25:05 PM »
Better get it now! Jumping to $2.84 here, Gas Buddy says it's rising right now.....
I slid in under the wire at $2.79 and used my last ten cents off a gallon coupon for $2.69. Still $55 for a half tank on Mr. Hog Sparkles.  :censored:

You have my sympathy/condolences. Soon it will cost Borgie more ta drive ta bingos twice a week den she wins dare...   Nope! :bonk: dat's all wrong :doah: Her gas could be free and she still wouldn't come out even! :angry2: 
« Last Edit: April 23, 2019, 02:26:55 PM by Lee Borgersen »
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Offline Coffee118

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Re: US gas prices riseing
« Reply #99 on: April 23, 2019, 02:47:47 PM »
It went up to $3.16 here this afternoon.
if you kick me when I'm down you better pray I don't get up.

Offline Rebel SS

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Re: US gas prices riseing
« Reply #100 on: April 23, 2019, 02:49:51 PM »
It went up to $3.16 here this afternoon.

Holy $#@!!!   :censored:

Offline Rebel SS

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Re: US gas prices riseing
« Reply #101 on: April 23, 2019, 05:39:06 PM »
$3.99 out in Pismo Beach...........but dat's Callyfornya.  :rolleyes:

Offline LPS

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Re: US gas prices riseing
« Reply #102 on: April 23, 2019, 06:50:24 PM »
Is that near the nude beach where Del has a Condo?  I don't think he needs to drive much when he gets there.  I mean as far as driving his car.....

Offline Bobberineyes

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Re: US gas prices riseing
« Reply #103 on: April 23, 2019, 06:58:43 PM »
Is that near the nude beach where Del has a Condo?  I don't think he needs to drive much when he gets there.  I mean as far as driving his car.....
Several hundred miles north of del, believe you me I looked for a fun beach in the area.. :sleazy:

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Re: US gas prices riseing
« Reply #104 on: April 23, 2019, 07:06:17 PM »
That's where my cousin lives...........

Offline LPS

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Re: US gas prices riseing
« Reply #105 on: April 23, 2019, 07:07:27 PM »
Is that near the nude beach where Del has a Condo?  I don't think he needs to drive much when he gets there.  I mean as far as driving his car.....
Several hundred miles north of del, believe you me I looked for a fun beach in the area.. :sleazy:

SO Del told you where the nudist beach condo is?  I being sort of new here didn't realize that you and Del traveled together.  We need pictures.  Of Del in action may be worth a couple of bucks.. 

Offline Rebel SS

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Re: US gas prices riseing
« Reply #106 on: April 23, 2019, 07:09:14 PM »
Barry, please...I just ate dinner.  :puke:

Offline LPS

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Re: US gas prices riseing
« Reply #107 on: April 23, 2019, 07:12:11 PM »
Sorry Rebs.   :rotflmao: :happy1: 

Offline mike89

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Re: US gas prices riseing
« Reply #108 on: April 23, 2019, 07:14:05 PM »
Sorry Rebs.   :rotflmao: :happy1:

dat funny as heck!!!!!!!!!!!!!    :rotflmao: :rotflmao: :happy1:
a bad day of fishing is still better than a good day at work!!

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Re: US gas prices riseing
« Reply #109 on: April 23, 2019, 07:17:51 PM »
The picture in my mind wasn't!!!! Bad thing was, I was eatin' weenies.....  :rolleyes:
« Last Edit: April 23, 2019, 07:19:53 PM by Rebel SS »

Offline mike89

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Re: US gas prices riseing
« Reply #110 on: April 23, 2019, 07:27:34 PM »
The picture in my mind wasn't!!!! Bad thing was, I was eatin' weenies.....  :rolleyes:

that's even more funny!!   sorry Reb!!!!!!! :rotflmao: :rotflmao:
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Re: US gas prices riseing
« Reply #111 on: April 23, 2019, 09:17:51 PM »
yep, its donny's fault!!!!!!!!!! :tut: :tut: :pouty: :pouty:

there's a 10 cent per gallon difference between cold spring and monticello holiday gas stations, and cold spring isnt the cheaper of the 2!!!!!!! :confused: :confused: :confused:

Isn't your Gov-a-nerd jacking it soon too?   :scratch:

Gov. Tim Walz proposed hiking Minnesota’s gas tax by 20 cents per gallon to pay for road and bridge projects.
Cooking over a open fire is all fun and games until someone losses a wiener!

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Re: US gas prices riseing
« Reply #112 on: April 23, 2019, 09:28:01 PM »
yep, its donny's fault!!!!!!!!!! :tut: :tut: :pouty: :pouty:

there's a 10 cent per gallon difference between cold spring and monticello holiday gas stations, and cold spring isnt the cheaper of the 2!!!!!!! :confused: :confused: :confused:

Isn't your Gov-a-nerd jacking it soon too?   :scratch:

Gov. Tim Walz proposed hiking Minnesota’s gas tax by 20 cents per gallon to pay for road and bridge projects.
he ain't my govnaturd! :tut: :tut: :tut:
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Offline Gunner55

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Re: US gas prices riseing
« Reply #113 on: April 24, 2019, 07:54:17 AM »
Just slipped in under the wire at home before leavin to get it at $2.74 paid $2.84 coming up. GR was $2.79 yday.
Life............. what happens while your making other plans. John Lennon

Offline Lee Borgersen

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Re: US gas prices riseing
« Reply #114 on: June 11, 2019, 06:52:31 AM »
  Bulls beware: The 2020 oil market is quickly turning ugly.
 
:smoking: Oil bulls thought 2020 would be their year. :thumbs:

 :coffee: .....
After half a decade of lower spending on new projects, oil production growth was supposed to slow to a trickle just as demand was supercharged by a once-in-a-generation shake up in the shipping fuel market. Many market commentators predicted that if $100 a barrel-oil was going to make a come back, it would happen in 2020.

Excitement is fading fast. The first official assessment of 2020 comes from the International Energy Agency on Friday, but a first look at forecasts from consultants and traders for supply and demand balances show persistent surpluses, not the deficit that was expected to underpin rising prices.

The culprits: rising shale production, a slowing global economy and the prospect of a deepening trade war. :happy1:

Video report....
https://www.msn.com/en-us/money/markets/bulls-beware-the-2020-oil-market-is-quickly-turning-ugly/ar-AACC99h?li=BBnb7Kz&pfr=1
« Last Edit: June 11, 2019, 06:54:17 AM by Lee Borgersen »
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