dok
Veteran Member
I thought the price of crude oil in Jan. 2000 was $9.00/barrell. Back then, I drove a Ford Ranger, it had a 20ga. tank, which I filled for less then $20.00. I believe RUG was going for .99/ga. The good old days.
You know, I've heard some conspiracy theorists hyposthesise that the low oil prices of pre 2000 were related to the Saudi's "oweing us" for defending them against the Iraqis in the 1990 Gulf War. I'm not sure if the Saudi's have the kind of sway in OPEC to modify global prices over the long term, however.dok said:I thought the price of crude oil in Jan. 2000 was $9.00/barrell. Back then, I drove a Ford Ranger, it had a 20ga. tank, which I filled for less then $20.00. I believe RUG was going for .99/ga. The good old days.
I left for work this morning right after the EIA report came out, showing crude inventories down 8 million barrels, gasoline down, distillates up a little. WTI was about $2 higher on the day.4Gman said:on a side note
I thought tornadored was being sarcastic about the dollar rising.
BUT guess not.... we gained a penny against the euro! BuhhhYaaaKaaaaShaaa!
And the crude droped like $4!
Earlier this week a member on the SoCalEuro.com forum asked whether it would be okay to chip his "high mileage" GTI with a 1.8T engine. He said it had about 110k miles, and I asked "is that really high miles for a 1.8T?"txsuperlooper said:I purchased a 2002 Jetta TDI recently for the mpg advantages, but also for a couple of other reasons that gas vehicles cannot compete with. One is the longevity of the engine. A diesel will last MUCH longer than a gas motor, so the need to get another vehicle is not as frequent.
http://money.cnn.com/2008/05/22/news/economy/hurricane_season/index.htm?cnn=yescnn said:An ill wind for gas prices
Traders say that even though you're already paying for the hurricane season, the price could spike to $6 a gallon if catastrophe strikes.
By David Goldman, CNNMoney.com staff writer
Last Updated: June 1, 2008: 10:09 AM EDT
NEW YORK (CNNMoney.com) -- Batten down the hatches: hurricane season starts on June 1. It's expected to be a rough one, threatening to upend refineries and disrupt pipelines in the southern United States.
And that could send gas prices, already nearly 20% above what they were last year, soaring even higher.
That's what happened three years ago when the Gulf Coast was battered by two hurricanes - Katrina and Rita - in the span of a few weeks.
"With the market the way it is now, a move in crude because of a hurricane could really be exacerbated," said MF Global energy analyst Don Luke.
Peter Beutel, oil analyst at Cameron Hanover Beutel, said if a Katrina-like hurricane were to hit in July, gas prices could go as high as $5 or even $6.
"The last thing this market needs at this time is a hurricane, because we can't afford to lose any of our refining capacity at this point," said Beutel. "If anything bullish happens with the market in this state, it would make it go absolutely crazy."
Like any disruption to supply, when a hurricane takes out drilling platforms and refineries, supply and demand principles lead to a jump in crude oil gasoline prices.
But even before the start to hurricane season, speculative traders have started to send oil and gas prices higher in anticipation of a hit to supplies.
"We're already seeing a hurricane premium on gas of about five to 10 cents per gallon," said Alaron Trading energy analyst Phil Flynn. "Especially since Katrina, we've seen traders build that into prices."
The last huge gas spike caused by a hurricane happened in the late summer of 2005, when Katrina and Rita brought many Americans their first glimpse at $3 a gallon for regular gas. The destruction from Hurricane Katrina alone led gasoline prices to jump 46 cents, or 17%, in just one week to a national average of $3.11, according to the U.S. Energy Information Administration.
Though we may never again see two Category 5 hurricanes enter the Gulf of Mexico in the span of only a few weeks, it may not take a similar occurrence to see a similar boost in gas prices again. Oil prices have soared through the roof on seemingly any kind of bad news recently, so analysts admit that this hurricane season's effect on gas prices is difficult to predict.
On the other hand, if no hurricane hits this season, Beutel said gas prices may fall off a bit. But with hurricane season ending Nov. 30, we'll have to wait until December to find out.
"That would have some downward pressure on prices, but who knows where we'll be at that point - we could be a dollar higher or lower than where we are now," he said.
The perfect storm
The National Oceanic and Atmospheric Administration (NOAA) released its tropical storm forecast Thursday morning, saying there is a 65% chance of a stronger-than-average hurricane season and only a 10% chance that it will be weaker than normal. The outlook indicates a 60% to 70% chance of 12 to 16 named storms, with six to nine becoming hurricanes and two to five turning into major hurricanes.
But it doesn't take a strongly active hurricane season to cause major disruption to oil drilling and gasoline production in the Gulf.
"The makeup of a storm can have all the difference," said Flynn. "Slow moving storms have a tendency to churn up underground pipelines, so you don't need a category five to do a lot of damage."
Andy Radford, policy adviser for oil industry trade group American Petroleum Institute (API), said the average hurricane halts oil drilling production for over a week. Rig workers are forced to evacuate two to three days before the storm hits, and as soon as it's safe to return, they have to check for damage and restart production.
"When the offshore oil pumps get shut down, it takes a lot to get them back on," said Radford.
iReport.com: Are you taking extreme gas-saving steps?
He said those big storms in 2004 and 2005 did considerable damage to oil drilling platforms in the Gulf of Mexico, severely cutting into supply to gasoline refineries on the shore.
Though slow-moving, weak tropical storms over the Gulf of Mexico can halt oil drilling, powerful hurricanes that hit land can knock out refineries. That's because about 40% of U.S. refining capacity is located on the Gulf Coast, namely in oft-hit states like Texas and Louisiana. After Katrina and Rita, 30% of Gulf Coast refineries were shut down or operating with reductions.
"Because refining of crude oil into gasoline and other oil products is critical to meeting our nation's daily energy needs, disruptions in these operations can have an immediate impact on the nation's gasoline supply and petrochemicals," said Royal Dutch Shell Plc (RDSA) spokeswoman Robin Lebovitz.
And even though NOAA predicted a high number of strong, named storms for the 2008 season, no one can tell whether or not they will make landfall.
"You can have a very active season but none will make landfall, or a very inactive season but they all hit land," said NOAA spokesman Dennis Feltgen. "There's no way to predict if they will hit yet, because that science just doesn't exist."
It's rare for a refinery to be totally knocked out by a hurricane, but many are susceptible to wind and water damage that can limit supply to and from the facilities. Similar to offshore drilling platforms, refineries are sometimes shut down for more than a week before they can return to full operability, according to API Refining Issues Manager Cindy Schild.
Part of the reason Katrina and Rita led to such a spike in gas prices was that there weren't enough functional facilities to make up for the lost output. Although capacity at many U.S. oil refineries has been expanded, there hasn't been a new refinery built in the United States in three decades.
First Published: May 22, 2008: 4:51 AM EDT
It's been that way for quite some time. E10 is "regular gas" these days, and the ethanol percentage is so small that it's benefits from oxygenation of the fuel and improved octane counterbalance it's miniscule drop in BTUs per gallon.Rod Bearing said:Buying gasoline nowadays is also buying ethanol at 10% if what I heard that all gasoline is now being dilluted this way. So you can chop off some of the gasolines potency and mileage, right off the top.
Vast majority of exported diesel is of the HIGH SULFER type which can no longer be sold as on road diesel.ruking said:The answer is pretty simple really: 1 higher profit 2 one of the few end products we can EXPORT 3 overall, a balance of trade issue.
Where are we selling high sulphur diesel to? Vast majority of the diesel market in the rest of the world has sulphur standards equal to or tighter than our own.MethylEster said:Vast majority of exported diesel is of the HIGH SULFER type which can no longer be sold as on road diesel.
Per the EIA, California spec retail ULSD is averaging $4.99 right now. $5.19 is way overpriced in this market. Shop around.RobbieTDI said:Yeah right now it is, ive owned the civic for a while, but hate driving it. Its a 97 HX, i average around 40mpg, the TDI i was around 44, i do the majority of my driving around town and through lights - LA traffic.
civic: $3.99/40= 0.09975
tdi: $5.19/44= 0.01180
I know of a number of Gulf Coast refineries that are exporting the 500 ppm sulfur diesel. China is one of the countries I know about.Bob_Fout said:Are we talking actual high sulfur fuel, like 3000 ppm from the early 90s, or LSD, 500 ppm?
I hate to break this to you, but fuel prices change!RKSTDI said:Per the EIA, California spec retail ULSD is averaging $4.99 right now. $5.19 is way overpriced in this market. Shop around.
Also, California retail reformulated regular gasoline (sold in LA) is averaging $4.48 right now. I don't see how anybody could sell it for $3.99. Seems like they would lose a boatload of money doing that.
I call "magical imaginary civic" bull crap.RobbieTDI said:civic is running great with a lifetime average of 41mpg on RUG
you can call BS all day long buddy, but obviously you know nothing about the Honda Vtec-E (economy) cars of the 90s.nicklockard said:I call "magical imaginary civic" bull crap.
Sorry...there's no civic besides a 1987 CRX HF that can get that kind of mileage, especially in Southern California stop/race/stop traffic.
bulllllllllcrap.
And probably slammed into the same NOx brick-wall that diesels have.RobbieTDI said:i suggest anyone with doubts towards my mileage claims or any of these hondas - check out www.gassavers.org - pretty much all VX owners, most getting >50mpg. Both HX and VX used honda's "lean burn technology" to achieve the mileage they did.
I'm with you Robbie and what you're saying is true. The car manufacturers "could" have done something other than Pee on our legs about Hybrids. I think the 1980's Honda HF's 50-60 mpg were the direction we should have gone. I commend you on changing to the Honda. For fear of what's going to happen I just located a 1990 Ford Festiva that has a EPA rating of 41 mpg. (Most consertiave drivers are getting 48 mpg with the little 1.3.) The Festiva's compared to Honda's are cheap (but just as hard to find). $600.00 for a one owner, 165k, 5 speed with A/C that works.RobbieTDI said:you can call BS all day long buddy, but obviously you know nothing about the Honda Vtec-E (economy) cars of the 90s.
Started with the Civic VX (92-95) EPA window sticker with 47/56
was replaced by the Civic HX (96-00) MY CAR! 37/44
My civic VX averaged over 50mpg on highway trips, LA traffic only saw about 44mpg, i think it needed a tune up.
My civic HX has averaged 41mpg in LA about 50/50 highway/city driving. I dont even have a scangauge yet. Almost every tank is like clockwork 40-42mpg. I drive this thing normally, not with an egg under the pedal, just as i drove my tdi.
i suggest anyone with doubts towards my mileage claims or any of these hondas - check out www.gassavers.org - pretty much all VX owners, most getting >50mpg. Both HX and VX used honda's "lean burn technology" to achieve the mileage they did.
Next time do some research before you call BS. TDI's are great, but they are not the end-all as far as efficiency/$.
All those trips to the dealership suggest to me that problems weren't being solved the first time you reported them. That's more a dealership quality problem than a Volkswagen quality problem. It might still be a reason to avoid VWs, but the criticism should be directed where it belongs.nuke said:I like diesel engines and I'd sure as heck consider another diesel car or truck in the future. VW though, is off my list unless things change hugely from my experience.