diesel is up to 3.30 gal here in town.

I just emailed the GOV about rising fuel prices and the impact it will have on this state.

I do believe if we see fuel prices like they are estimating this state will be bust...

Something needs to be done with rising fuel costs this state will have a hard time recovering if fuel continues to go up and it may never recover..

Let see here.

 

1. Ban drilling in the gulf of Mexico.

2. Ban drilling off of the east coast.

3. Sit on environmental studies to stop leases from being drilled in Colorada, North Dakota and elsewhere

4. USE the EPA to force refiners and power plants to spend billions to make their facilities "carbon neutral".

5. Use the EPA the threaten the various players working the Marcellus shale formation

 

Naw, no reason that fuel prices are high and there's not a damn thing that the state of NJ can do about it.

Well, its been a cold winter, our heating bill for the house is through the roof compared to last years, so that def. has an impact on oil prices. I've always understood the fluctuation of gas pricing in the winter, but i've always wondered why the hell does it go up like 40c on memorial day weekend? I mean were not half as bad as some of the other states gas prices, but your right, it is completely out of hand, these companies are making billions yet they still need to make the bottom line bigger...

Well, its been a cold winter, our heating bill for the house is through the roof compared to last years, so that def. has an impact on oil prices. I've always understood the fluctuation of gas pricing in the winter, but i've always wondered why the hell does it go up like 40c on memorial day weekend? I mean were not half as bad as some of the other states gas prices, but your right, it is completely out of hand, these companies are making billions yet they still need to make the bottom line bigger...

 

See, that's how it works.

 

It goes up around Memorial day because it's "Driving Season". You know, most of us don't leave the house until then.

 

It goes up in the winter for "fuel oil".

 

Seeing the pattern yet?

 

The only time it goes down is when companies like The Goldman Sack, sell off their position in oil futures and cause the commodity bubble to collapse. Classic pump and dump. Recall when The Goldman Sack said "Oil will go to $200/barrel"? Are they prescient or is it something else? If you tell the world it is going to $200/barrel when it's $65, it had better start going to $200 and like magic, viola, It happens. When you rig the game, you know when to get out so you punch out ahead of time and make $12 billion dollars in profits in a year when everyone else lost their shirt.

 

Now there is a new metric in the market. Inflating dollars. Helicopter Ben is buying up treasury bonds. He doesn't buy them from the US government, he buys them from The Goldman Sack. Now The Goldman Sack collects a commission on all these sales after buying them from the US government so they needs a place to park the windfall cash they just got. Buying treasury bills is a loser since they're going to be downgraded and inflated away in value, so they buy hard assets, like Oil or gold, or silver, or wheat or any number of other commodities that are spiking in price.

 

This is why a loaf of bread a year from now will cost 30-50% more than it does right now. Pump the price of oil and every commodity goes up, buy more commodities, they go up. Eventually it'll all collapse but of course, by that point, $5/gallon gas will have put the kibosh on the state of NJ.

Believe it or not we still have some of the cheapest gas around.

 

But it cost me $113 to fill up my truck today

Of course when I got it diesel was still cheaper than gas. And then about a day or so (not kidding!) after the prices flipped to being more expensive and never went back. Lame. Still, I get about 18.5 MPG in the summertime with my 7.3L diesel. The 5 speed manual helps

 

When i purchased my diesel fuel was 1.27 gal... gas was around 1.40-1.45

I wish gas was back around 1.50......

Well here is something that the news isn't really reporting. The moratorium on drilling in the gulf is still pretty much in effect. They technically lifted it right before the elections(conveniently), but they are not approving any permits to work. My rig has been told that we aren't expected to get a permit until late April or early May. Now the lack of permits isn't for just drilling, it is also for what is called intervention work. Wells produce from natural pressures in the oil deposit. This natural pressure forces the oil into the pipelines and ultimately to the production faclity such as Thunderhorse or Mars(2 big production rigs). Now these pressures naturally drop, so this is where intervention work comes in. You drill what is called a "water well" and tap into the oil reserve and start pumping water into the deposit. Oil floats on water so by pumping water into the deposit, you increase the pressure and force the oil into the pipelines. The producing wells in the gulf are dropping in pressure. They are not allowing us to intervene and make these wells producible again. So therefore supply from the gulf is dropping.

 

I have inside info that the oil companies are expecting to see $5 a gallon by summer and possibly $200 a bbl by the end of the year. How accurate that really is, I dont know but it came from an extremely reliable source. I guess we will find out. Now also realize that the oil companies are paying these drilling rigs and thier crews to just sit there and chip and paint all day. So the cost of that ultimately gets added to the cost of gas and oil. I gotta say I cant wait to get back to drilling, I am getting sick of busting rust.

I get barely 14mpg on gas so even with the diesel costing you more your still making out ahead of me lol.

Well here is something that the news isn't really reporting. The moratorium on drilling in the gulf is still pretty much in effect. They technically lifted it right before the elections(conveniently), but they are not approving any permits to work. My rig has been told that we aren't expected to get a permit until late April or early May. Now the lack of permits isn't for just drilling, it is also for what is called intervention work. Wells produce from natural pressures in the oil deposit. This natural pressure forces the oil into the pipelines and ultimately to the production faclity such as Thunderhorse or Mars(2 big production rigs). Now these pressures naturally drop, so this is where intervention work comes in. You drill what is called a "water well" and tap into the oil reserve and start pumping water into the deposit. Oil floats on water so by pumping water into the deposit, you increase the pressure and force the oil into the pipelines. The producing wells in the gulf are dropping in pressure. They are not allowing us to intervene and make these wells producible again. So therefore supply from the gulf is dropping.

 

I have inside info that the oil companies are expecting to see $5 a gallon by summer and possibly $200 a bbl by the end of the year. How accurate that really is, I dont know but it came from an extremely reliable source. I guess we will find out. Now also realize that the oil companies are paying these drilling rigs and thier crews to just sit there and chip and paint all day. So the cost of that ultimately gets added to the cost of gas and oil. I gotta say I cant wait to get back to drilling, I am getting sick of busting rust.

 

Thank You Chairman Maobama and Crime Inc. for helping drive the cost of oil through the roof. Not!!

Boy as if there isn't enough to complain about already, but come on, $5.00 a gallon for gas Something has to give or this country is in for a rude awakening.

And they can blame the Republicans and the evil oil companies... I said it with gas at $3+ a gallon in December/January you know we are in trouble come June. The last time the rise was due to the demand as the global economy was on fire. If this happens now with such low demand in a stagnate economy we are in for a real bad time...

And they can blame the Republicans and the evil oil companies... I said it with gas at $3+ a gallon in December/January you know we are in trouble come June. The last time the rise was due to the demand as the global economy was on fire. If this happens now with such low demand in a stagnate economy we are in for a real bad time...

Pretty much, yeah.... i feel bad for the states already at $4+ a gallon... Glad i drive a 2dr honda. Oh god i just realized something, if i see a surge in prius owners i may go a little crazy.