Oil Price Increases After Biden Shuts Down Drilling Permits Again

[Fernando]

Which is stolen by crooks, wasted by schools who have to spend the money or lose it, and squandered on voter blocs. The chug holes are there. And I have a trashed out road that they have wasted tens of thousands of dollars "fixing" every spring when it rains. A permanent fix? nope nope nope cannot do that. The last time I called them about it, they said they would come by and talk to me about it. They didn't and never will. The Walton side of the county gets all the money.

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They "repaired" this and 3 weeks later... (look west above, look east below) Washed the damaged whistle out of the road and its still there - junk. The gravel they have brought in over the years has filled my neighbor's field for 100 yd.
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Sorry to hear about your road issue.
I have a commercial property in which the county put a new road and had issue of gravel coming onto the sidewalk. Heard it was substandard job.
I don't know about these public works agencies when how they do the work.
Later they had to redo and the gravel problem was no longer a problem.

 

[Zoe]

Sorry to hear about your road issue.
I have a commercial property in which the county put a new road and had issue of gravel coming onto the sidewalk. Heard it was substandard job.
I don't know about these public works agencies when how they do the work.
Later they had to redo and the gravel problem was no longer a problem.

I didn't think about that. Asphalt has a bunch of oil in it. If could drop a little more, I need some asphalt work done. They use recycled oil is what I read. I don't know how oil prices effect recycled oil prices.

 

[Terrel L. Shields]

They use recycled oil is what I read. I don't know how oil prices effect recycled oil prices.

They use asphalt which is the bottom of the cat cracker. It is thick gook and it also isn't merely "asphalt" - it contains a controlled mix of fine and coarse gravels. It's not recycle.

HMA - hot mix asphalt must contain a minimum amount of "fines" - sand, small gravel but varies with the use. It's like concrete. You need sand, you need gravel, and you need the binder (asphalt oil or cement)

 

[Terrel L. Shields]

Goldman Sees $5 Gasoline, $130 Brent By Year End | OilPrice.com

The price of retail gasoline just dipped below $4 per gallon, AAA data showed on Thursday, but prices could rise to $5 per gallon by the end of the year according to Goldman Sach’s Head of Energy Research Damien Courvalin

oilprice.com

Goldman is still predicting $5 gasoline and $130 /bbl Brent crude price by year's end.

 

[Terrel L. Shields]

Prices are yo-yoing back and forth in a range between $85 and $100/bbl. Today the crude draw has left our reserves less than 2004 (which was when oil prices started to rise after a decade of very low fuel prices.) Clearly, the Russo-Ukranian War is going to be won by Russia. The world alarmed by the invasion reacted negatively but now, it is obvious, the world no longer cares as they don't see it affecting them - except in the Middle East and Africa that depends so much upon the Ukraine and Russia for grain. So the "geo-political" risk of Russia-Ukraine is now a nothing burger. The price relates to the supply and demand. Demand is increasing faster than supply so far. The Permian Basin is increasing production dramatically but risks getting into the situation it was before - glut of associated gas. We have a high gas demand now by virtue of the need for gas in Europe but LNG is relatively new and few such ships to carry it are available and Europe is regretting their decision to not build more LPG ports to unload it. Meanwhile the Federal leasing of land is lax, development is slow and you are not going to drill a lease if you cannot get the government to allow you to run seismic - which appears to be an issue as well. And that despite the hysteria crowd claiming 3 D seismic (as if that was different technique from "2 D") is 'damaging' the ground they drive over. Good grief. They have no idea what a seismic survey is.