Gas Prices in BCS

6,996 Views | 64 Replies | Last: 1 mo ago by halibut sinclair
JP76
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A 50% hair cut in crude is only a recession away
maroon barchetta
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JP76 said:

A 50% hair cut in crude is only a recession away


I'm afraid I have some good news for you.

The good news is also the bad news.
woodiewood1
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techno-ag said:

75AG said:

Never been in the Oil and Gas bidness, therefore know nothing of the inner workings of pricing. But I'm told there are 9,000 unused drilling permits and read that the Alaskan lease sale was canceled because there was no interest from the industry. If profits are so high, and apparently they are, why no interest and why thousands of unused permits. Asking because I just don't know.
Regulations and litigation hold up a lot of that drilling. Also multiple permits are sometimes needed for an area. If a dry hole comes up in exploratory drilling, the oil companies will stop drilling even though they have permits.

In short, it's very misleading to harp on the 9000 permits. Only 10 percent of drilling takes place on federal land anyway. Read more here if you're interested: https://www.verifythis.com/article/news/verify/national-verify/oil-permits-9000-unused-fact-check/536-2a657e09-856b-436c-a55d-df1cdf2acb3f

Finally, banks are encouraged not to lend to big oil. Supplies of pipe and sand have increased dramatically when they can even be found to begin with. And workers are in short supply.

All of that is on top of Biden shutting things down like the Keystone Pipeline on day one of his term. High prices are here to stay a while. Probably years, if ever, it goes back down to where it was, IMO.

Bidenflation is here to stay a while.
To a large part, inflation now is us paying back all the free stimulus money that we received over the past two years. More money chasing the same or fewer products is a large cause of much of inflation.
milner79
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Monywolf said:

If you voted for this, remember, you voted for this.

This was taken on Nov. 3, 2020. When you see one of the 81 million* be sure to thank them for where we are now.

dubi
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cavscout96
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histag10
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AG
It was 3.99 at Kroger this morning, and I was excited for how cheap it was compared to everywhere else...
SoTheySay
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S
$4.15 at HEB at Jones Crossing at about 6 AM so not sure what it is now.

$4.07 at the Valero on 29th
techno-ag
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AG
Time to download the GasBuddy app again.
Rapier108
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There are a few places in town still at $3.99 according to Gas Buddy. How much longer, who knows. All show to have been updated within the last 4 hours ago.

Stripes at Briarcrest & 6
Stripes at WJB & 6
Stripes at Holleman & 2818
Chevron at Graham & Victoria
Sunoco at Arington & Greens Prairie.

Citgo at Villa Maria & South College shows $3.97, but that hasn't been updated since yesterday.
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
Rapier108
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techno-ag said:

Time to download the GasBuddy app again.
Be wary of it. That app is one of the most notorious for tracking not only your location, but your phone usage overall.

Just hit their website.
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
JP76
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techno-ag said:

Time to download the GasBuddy app again.


I use it all the time now and love it.
Currently a 38 cent variance across BCS
bushytailed
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HEB at Jones Crossing had gas at $3.98 at 10:30am yesterday but I was running late for church and didn't stop. By the time I tried to gas up at 3:30pm, it had increased to $4.15. I ended up getting gas for $3.98 at the CS Walmart.
jja79
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AG
WTI is $114 today so hold on to your hats.
histag10
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AG
It was up to 4.19 at Kroger this morning. Glad I filled everything up yesterday at 3.99
TyHolden
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AG
it will be $5-6 before end of summer....
Rapier108
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TyHolden said:

it will be $5-6 before end of summer....
In Washington (state, not swamp), the pumps at some stations are now displaying a 0 in front of the current price.

They've upgraded the pumps in an expectation of the price going over $10.
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
dubi
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AG
Rapier108 said:

TyHolden said:

it will be $5-6 before end of summer....
In Washington (state, not swamp), the pumps at some stations are now displaying a 0 in front of the current price.

They've upgraded the pumps in an expectation of the price going over $10.


YIKES!
Bob2525
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HEB: 4.19 Reg / 4.44 Mid grade on May 17.
https://instagr.am/p/CdtCyFzu8d3
LSCSN
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I hit the max amount at a pump yesterday. First time ever. Unreal.
cavscout96
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AG
try driving a diesel...


Aggie_Boomin 21
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AG
75AG said:

Never been in the Oil and Gas bidness, therefore know nothing of the inner workings of pricing. But I'm told there are 9,000 unused drilling permits and read that the Alaskan lease sale was canceled because there was no interest from the industry. If profits are so high, and apparently they are, why no interest and why thousands of unused permits. Asking because I just don't know.

A lot of these permits were purchased by companies at the tail end of 2020 to create a backlog before current president took office.
75AG
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AG
Not sure I understand. To make Biden look bad?
In a world of Altuves and Correas, be an Altuve.
techno-ag
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AG
75AG said:

Not sure I understand. To make Biden look bad?
More likely they were trying to buy the permits before Biden got in. The Democrats have a long history of being anti-oil.
75AG
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AG
Makes sense. I wish they were using their record profits to expand drilling. Maybe that would help stabilize prices.
In a world of Altuves and Correas, be an Altuve.
techno-ag
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AG
75AG said:

Makes sense. I wish they were using their record profits to expand drilling. Maybe that would help stabilize prices.
They've been told for years not to do that by pols and big investors. So they're giving it back to shareholders. Combine that with supply chain and labor issues, an unwillingness from banks to lend along with everything else going on, and they can't really expand drilling even if they wanted to.
75AG
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AG
Thanks. I spent my life in the bio pharmaceutical business, blasted by pols and the public alike for pricing issues they never understood, or we're will to acknowledge.
In a world of Altuves and Correas, be an Altuve.
Aggie_Boomin 21
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AG
75AG said:

Not sure I understand. To make Biden look bad?

Other poster explained it, but yeah it was more like a "buy it while you can" situation.

Army corps of engineers did something similar with the border wall contracts/submittals.
halibut sinclair
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$4.15 today at Shell across from BHS wth Kroger card.
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