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US Oil Production More Than Any Country Ever, Unlikely to Be Surpassed: EIA

  

Category:  News & Politics

Via:  kavika  •  one month ago  •  133 comments

By:   Filip De Mott (Markets Insider)

US Oil Production More Than Any Country Ever, Unlikely to Be Surpassed: EIA
The US produced an average of 12.9 million barrels a day last year, more than Russia or Saudi Arabia have ever pumped in a year.

S E E D E D   C O N T E N T


Filip De Mott 2024-03-11T14:14:38Z Filip De Mott Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send an email. Email Twitter icon A stylized bird with an open mouth, tweeting. Twitter Link icon An image of a chain link. It symobilizes a website link url. Copy Link Save Article Icon A bookmark Save Read in app Getty Images Redeem now

  • The US has been history's biggest producer for six years in a row, the Energy Information Administration said.
  • No global competitor is likely to break the US record in the near term.
  • But the EIA expects growth to slow dramatically, and reaccelerate in 2025.

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US crude production has surpassed every record in history for six years in a row, the US Energy Information Administration wrote on Monday. Its latest peak reached in 2023 is unlikely to be broken by any near-term competitor, it said.

Including condensate, last year's US crude production averaged 12.9 million barrels per day, eclipsing the 2019 global record of 12.3 million barrels per day.

A monthly record also occurred in December, at over 13.3 million b/d.

It's a remarkable turnaround from a 62-year low hit in 2008, S&P Global previously noted, and potentially has come to surprise analysts. But despite a 69% decrease in active rigs since 2014, technological advancements have made US production much more efficient, the EIA cited in a separate report.

Further leading 2023's oil boom were private firms, with the top five companies representing a third of average annual Permian crude production growth since 2019.

Now, global competition has a low chance of reaching these same record levels, the agency said.

Altogether, the US, Russia, and Saudi Arabia made up 40% of 2023's global crude production. But output from both competitors was limited last year, due to OPEC+ production cuts, as well as voluntary curbs.

Instead, Russia's annual production peaked in 2019 at 10.8 million b/d, while Saudi Arabia reached a record of 10.6 million b/d in 2022. In January, the state-run oil firm Aramco ended plans to expand capacity, citing the green energy transition.

"By comparison, the next three largest producing countries—Canada, Iraq, and China—combined produced 13.1 million b/d in 2023, only slightly more than what was produced in the United States alone," the EIA wrote.

But whether the US can continue to beat its own record is a growing uncertainty. The success of private operations last year fueled a merger spree, as public firms raced to increase their foothold of the Permian Basin — the epicenter of US crude production.

This could flatten US production, analysts said, as public companies bring on different financial priorities. For instance, this could mean rig count reduction, and less drilling activity.

For its part, the EIA expects production to slow dramatically, with last year's November peak set to be surpassed in February 2025. For this year, production is forecast to rise to 13.21 million b/d.

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Kavika
Professor Principal
1  seeder  Kavika     one month ago

Ha, something good among all the so called bad news for the country.

 
 
 
devangelical
Professor Principal
1.1  devangelical  replied to  Kavika @1    one month ago

when trump says he's going to drill, drill, drill. he really means in places that are protected without any EPA regulations.

 
 
 
evilone
Professor Guide
1.1.1  evilone  replied to  devangelical @1.1    one month ago
when trump says he's going to drill, drill, drill. he really means in places that are protected without any EPA regulations.

I think you meant to say WHOM he drills?

 
 
 
devangelical
Professor Principal
1.1.2  devangelical  replied to  evilone @1.1.1    one month ago

isn't it too soon to deflect to lauren bobert?

 
 
 
evilone
Professor Guide
1.1.3  evilone  replied to  devangelical @1.1.2    one month ago
isn't it too soon to deflect to lauren bobert?

Probably and probably off topic as well so I'll desist. 

 
 
 
Kavika
Professor Principal
1.1.4  seeder  Kavika   replied to  evilone @1.1.3    one month ago
Probably and probably off topic as well so I'll desist. 

Ya think, but funny as well.

 
 
 
devangelical
Professor Principal
1.1.5  devangelical  replied to  Kavika @1.1.4    one month ago

I think blowberts CD4 primary is at the end of june and she just got her trump endorsement. although she's shown her willingness in the media to face stiff opposition, she'll still be trekking to mar-a-lardo to ride the mushroom at least once between now and then.

 
 
 
devangelical
Professor Principal
1.1.6  devangelical  replied to  devangelical @1.1.5    one month ago

blowbert's spitting nails in the media over seeing the exit ramp the colorado GOP just put in her path.

 
 
 
devangelical
Professor Principal
1.1.7  devangelical  replied to  devangelical @1.1.6    one month ago

she's going after the colorado secretary of state now.

 
 
 
devangelical
Professor Principal
1.1.8  devangelical  replied to  devangelical @1.1.7    one month ago

... thinking that a recall will stop the state prosecution of tina peters and her own involvement.

 
 
 
devangelical
Professor Principal
1.1.9  devangelical  replied to  devangelical @1.1.8    one month ago

... only 37 years old and already staring into the political abyss. tsk, tsk, tsk ...

 
 
 
Buzz of the Orient
Professor Expert
1.2  Buzz of the Orient  replied to  Kavika @1    one month ago

Then why does gasoline cost so much at the pump?

 
 
 
Mark in Wyoming
Professor Silent
1.2.1  Mark in Wyoming   replied to  Buzz of the Orient @1.2    one month ago
Then why does gasoline cost so much at the pump?

depends on where you are , and where your asking about geographically .

 what i have seen in the US is price differences are affected by location , how long it takes to truck in , that increases costs at the pump , federal state and local taxes also can and do affect price at the pump .

world wide , many things can affect the cost in other parts of the world , for instance if a country shuts down exports such as rusia has due to its war , other countries can pick up the slack but their will be a difference in shipping costs at the terminal end and also at the pump . i read today 2-3 petro storage or refineries in russia got hit by Ukraini drones overnight causing fires and shut downs , so where ever that product was destined for isnt going to get their fuels and will have to be looking for alternate places to get them  .

as has been pointed out , the switch over from a winter blend to a spring or summer blend of ruel is likely taking place right now at many US refineries and terminals , when they do that they try and guage how much they will have to have on hand before the new blend starts flowing to the storage tanks .if they misjudge or dont have enough , as with any comodoty that gets short , the price goes up.

 
 
 
TᵢG
Professor Principal
1.2.2  TᵢG  replied to  Buzz of the Orient @1.2    one month ago

A very good and very complicated question.

The price of crude oil is the main factor, but there are other factors such as local taxes and regulations (e.g. California), distance from refineries (distribution costs), local market conditions (market varies by location) and of course the refining costs (a complex scenario in itself given the mix of crude weights and the retooling of refineries).

Crude oil pricing is based first on economics (supply and demand).   And we have just seen the effects of world politics (e.g. Putin's war) and how that can dramatically affect the supply chain.   Then of course there is the varying costs of extraction (depending upon the current source).   Finally, but importantly, we have the wildcard factor of market speculation.   This is investors trying to predict all the other factors on the planet which determine availability of crude and the impact that has on the price of crude.   

 
 
 
Split Personality
Professor Guide
1.2.3  Split Personality  replied to  Buzz of the Orient @1.2    one month ago

It's 2.59 to 2.72 here in Dallas

I cannot complain about that

 
 
 
Thrawn 31
Professor Guide
1.2.4  Thrawn 31  replied to  Buzz of the Orient @1.2    one month ago

For a number of reasons, the first being not all oil is equal. 

 
 
 
Krishna
Professor Expert
1.2.5  Krishna  replied to  Buzz of the Orient @1.2    one month ago
Then why does gasoline cost so much at the pump?

Actually is come down significantly compared to its fairly recent high prices.

 
 
 
devangelical
Professor Principal
1.2.6  devangelical  replied to  Split Personality @1.2.3    one month ago

meh, still pretty tough to swallow if you're old enough to remember filling your tank for $5 or $10 ...

 
 
 
Split Personality
Professor Guide
1.2.7  Split Personality  replied to  devangelical @1.2.6    one month ago

When gasoline was cheaper than water lol.

 
 
 
devangelical
Professor Principal
1.2.8  devangelical  replied to  Split Personality @1.2.7    one month ago

$20 fills my tank, buys a bag of weed, a 6 pack, and enough money left to get another victim into the drive in...

 
 
 
Right Down the Center
Senior Guide
1.2.9  Right Down the Center  replied to  devangelical @1.2.8    one month ago

$20 might fill your lawnmower tank.

 
 
 
JBB
Professor Principal
1.2.10  JBB  replied to  devangelical @1.2.8    one month ago

Every fifty years the value of money pretty much must roll over another decimal point. It is figured in that inflation be about 2.5%. The trick is not to eliminate inflation but to control it. Only in the worst of times do we suffer "Deflation".

 
 
 
Texan1211
Professor Principal
1.2.11  Texan1211  replied to  JBB @1.2.10    one month ago

Who controls inflation?

 
 
 
devangelical
Professor Principal
1.2.12  devangelical  replied to  devangelical @1.2.8    one month ago

circa 1971...

 
 
 
Split Personality
Professor Guide
1.2.13  Split Personality  replied to  devangelical @1.2.8    one month ago

I left the Drive In one winter night had to stop for gas but we were both broke after buying snacks.

Kept the car running to keep the heater going.

Found 27 cents under the floor mats and the drivers seat

Got almost two gallons, more than enough to get home.

Good times...

 
 
 
Drinker of the Wry
Junior Expert
1.2.14  Drinker of the Wry  replied to  Split Personality @1.2.13    one month ago
Found 27 cents under the floor mats and the drivers seat

With this damn continuing resolution, I’m forced to do the same to the couches on the Pentagon E-Ring to keep my equipping programs going.

 
 
 
devangelical
Professor Principal
1.2.15  devangelical  replied to  Split Personality @1.2.13    one month ago
Kept the car running to keep the heater going.

our drive-ins issued heaters that plugged in at the speaker stands

Found 27 cents under the floor mats and the drivers seat

I still stash the silver change in my console

Got almost two gallons, more than enough to get home.

cheapest I ever remember paying was 19.9¢ per gallon. gas war!

 
 
 
Split Personality
Professor Guide
1.2.16  Split Personality  replied to  devangelical @1.2.15    one month ago

I remember 18.9 on one corner vs 18.7 on the other corner and a line to get it at 18.7.

Of course they were upselling wiper blades and tires at the same time, lol.

 
 
 
Split Personality
Professor Guide
1.2.17  Split Personality  replied to  devangelical @1.2.15    one month ago
our drive-ins issued heaters that plugged in at the speaker stands

She objected to the odor they created.  It would ruin her hair etc.

 
 
 
devangelical
Professor Principal
1.2.18  devangelical  replied to  Split Personality @1.2.17    one month ago

funny, I don't remember that particular odor at all...

 
 
 
devangelical
Professor Principal
1.2.19  devangelical  replied to  Split Personality @1.2.16    one month ago
wiper blades and tires

$3 each, $120 for the set... now $20 and $800 or more...

 
 
 
devangelical
Professor Principal
1.3  devangelical  replied to  Kavika @1    one month ago

it's so busy with tankers where I'm at, it's like an interstate truck stop in the middle of bfe...

 
 
 
cjcold
Professor Quiet
1.4  cjcold  replied to  Kavika @1    one month ago

Increased drilling equals increased methane and carbon dioxide released into the atmosphere which equals increased AGW.

We didn't have a winter in my neck of the woods this year.

Didn't have to light the stove or hit the 4x4 switch on my truck.

Not complaining, just commenting on the strange phenomena.

 
 
 
Ed-NavDoc
Professor Quiet
2  Ed-NavDoc    one month ago

Too bad we do not have decent refining capability to go with it. 

 
 
 
Kavika
Professor Principal
2.1  seeder  Kavika   replied to  Ed-NavDoc @2    one month ago
Too bad we do not have decent refining capability to go with it. 

Yup, we do need to increase our refining capacity to match or exceed the amount being drilled.

 
 
 
Ed-NavDoc
Professor Quiet
2.1.1  Ed-NavDoc  replied to  Kavika @2.1    one month ago

If we did, we would probably sure have much lower gas costs.

 
 
 
Ozzwald
Professor Quiet
2.1.2  Ozzwald  replied to  Kavika @2.1    one month ago
Yup, we do need to increase our refining capacity to match or exceed the amount being drilled.

But that would decrease company profits and their excuses for increasing prices.

 
 
 
devangelical
Professor Principal
2.1.3  devangelical  replied to  Ed-NavDoc @2.1.1    one month ago

looks like you answered your own question. you don't think big oil figured out how to manipulate supply and demand to maximize profits decades ago? whose side are they on again? who makes sure they get corporate welfare and minimized regulations and restrictions? 

 
 
 
Kavika
Professor Principal
2.1.4  seeder  Kavika   replied to  Ozzwald @2.1.2    one month ago

Yes, it would they will always be in the drivers seat (pun intended) so to speak.

 
 
 
Sparty On
Professor Principal
2.1.5  Sparty On  replied to  Kavika @2.1    one month ago

Yep, problem is it’s a NIMBY proposition.   Big time.    

Here in bumfuk Northern Michigan we used to have some of cheapest gas in the country.   Refinery just 100 miles south.   Then people NIMBY’d it out of existence.   Now we are regularly above the US average.

Love me some NIMBY …..

 
 
 
Mark in Wyoming
Professor Silent
2.1.6  Mark in Wyoming   replied to  Sparty On @2.1.5    one month ago

Don't have the NIMBY problem here in my state, one refinery to the north of me does diesel, one to the south does gas.

Gas av price is $3.08/9, just filled up at the last place here that has it for$2.89/9, also got an extra 10 gals for the yard equipment.

Main issue here is the mandatory shut down for requirement to maintain the EPA required equipment and containment, but no worries . Neither plant does biofuel.

 
 
 
Ozzwald
Professor Quiet
2.1.7  Ozzwald  replied to  Mark in Wyoming @2.1.6    one month ago
mandatory shut down for requirement to maintain the EPA required equipment and containment

You might double check that.  Refineries have a habit of shutting down for mysterious maintenance reasons, while blaming the EPA.  Most of the things which the EPA requires, do not necessitate a closure.

 
 
 
Just Jim NC TttH
Professor Principal
2.1.8  Just Jim NC TttH  replied to  Ozzwald @2.1.7    one month ago

Don't they shut down when switching from winter blend to summer and vice versa? Seems to me that would be an EPA requirement and a good time for said maintenance.

 
 
 
Texan1211
Professor Principal
2.1.9  Texan1211  replied to  Just Jim NC TttH @2.1.8    one month ago
Don't they shut down when switching from winter blend to summer and vice versa?

Yes, they do.

Personally, I don't find that mysterious at all, do you?

 
 
 
Just Jim NC TttH
Professor Principal
2.1.10  Just Jim NC TttH  replied to  Texan1211 @2.1.9    one month ago

Nope

 
 
 
Mark in Wyoming
Professor Silent
2.1.11  Mark in Wyoming   replied to  Ozzwald @2.1.7    one month ago

I don't work on the industry, so really don't give a rat f*ck why they shut down if the reasons given are plausible.

Most of the diesel I know is contracted to go to the west coast, the gas from the south stays local and doesn't have the different state required additives, thus making it cheaper. Even the non ethanol blend here is cheaper.

 
 
 
Sparty On
Professor Principal
2.1.12  Sparty On  replied to  Just Jim NC TttH @2.1.8    one month ago

My truck has one blend.    It’s called Diesel.    Of course there are plenty of options for the DEF fluid the EPA required to make your air stink less.

 
 
 
Sparty On
Professor Principal
2.1.13  Sparty On  replied to  Mark in Wyoming @2.1.11    one month ago

Hint of the day.   Use Ethanol free gas for your small engines.     Mowers, blowers, chainsaws etc.    You won’t regret it.

 
 
 
Mark in Wyoming
Professor Silent
2.1.14  Mark in Wyoming   replied to  Sparty On @2.1.13    one month ago

have you noticed those throw away mowers from wally world and the like lack an oil drain plug?

( just got done loading up 20 rounds for the new meat getter )

 
 
 
Kavika
Professor Principal
2.1.15  seeder  Kavika   replied to  Sparty On @2.1.13    one month ago

Never ever put ethanol gas in an outboard motor...

 
 
 
Sparty On
Professor Principal
2.1.16  Sparty On  replied to  Mark in Wyoming @2.1.14    one month ago

Nope, haven’t been to Wally World in years but I know what you’re talking about.

New smoke pole?

 
 
 
Sparty On
Professor Principal
2.1.17  Sparty On  replied to  Kavika @2.1.15    one month ago

I know, same thing.    Probably okay if you burn a lot of gas but if it sits for any long period.    Same problem but good for the small engine repair business.

 
 
 
Ozzwald
Professor Quiet
2.1.18  Ozzwald  replied to  Just Jim NC TttH @2.1.8    one month ago
Don't they shut down when switching from winter blend to summer and vice versa?

No idea, why don't you look it up?  If they're changing blends it would be a scheduled switch over, not a "maintenance" one.

 
 
 
Just Jim NC TttH
Professor Principal
2.1.19  Just Jim NC TttH  replied to  Ozzwald @2.1.18    one month ago

No need. I have known it for years........................

 
 
 
Ozzwald
Professor Quiet
2.1.20  Ozzwald  replied to  Mark in Wyoming @2.1.11    one month ago
I don't work on the industry, so really don't give a rat f*ck why they shut down if the reasons given are plausible.

So you don't care if the reason is bullshit or not?  If their given reason is a lie and the actual reason is just to jack up pricing? 

Remember plausible does not equal truthful.

 
 
 
Ozzwald
Professor Quiet
2.1.21  Ozzwald  replied to  Just Jim NC TttH @2.1.19    one month ago
No need. I have known it for years..

How about a link then?  I'd love to read about it.

 
 
 
Just Jim NC TttH
Professor Principal
2.1.22  Just Jim NC TttH  replied to  Ozzwald @2.1.21    one month ago

Not gonna do your homework for you.

 
 
 
Sparty On
Professor Principal
2.1.23  Sparty On  replied to  Ozzwald @2.1.7    one month ago

Maintenance reasons are usually not “mysterious.”     Things wear out and break.    Upkeep is required.    New EPA rules CAN require modifications that mean shutdowns.    Owners of refineries have no desire to have unnecessary shutdowns.    When shut down, the refinery is making ZERO dinero and in fact are going into a hole paying for said maintenance.

Having worked shutdowns, they cram as much work as they can into the short timeframe available.    Shutdowns are negative cash flow propositions and work chaos.    Usually not a planned punishment to some “imagined” market or government driven narrative.

 
 
 
Mark in Wyoming
Professor Silent
2.1.24  Mark in Wyoming   replied to  Ozzwald @2.1.20    one month ago

actually , no i dont , just because i dont work in the industry , doesnt mean i dont know about it and certain OSHA and other things that need to be complied with for safety reasons , even if those that know nothing and thnk things are bullshit reasons to increase profits .

I can think of numerous reasons for shutting down flow  to comply with safety and some have to do with keeping things up to numerous government regulations .

If all you want to do is argue , i know how to remedy that .

 
 
 
Ozzwald
Professor Quiet
2.1.25  Ozzwald  replied to  Just Jim NC TttH @2.1.22    one month ago
Not gonna do your homework for you.

So you have nothing to back up your statement?  I will disregard it then.

 
 
 
Just Jim NC TttH
Professor Principal
2.1.26  Just Jim NC TttH  replied to  Ozzwald @2.1.25    one month ago

Yes I do. I have knowledge. Something you seem to be lacking on the subject.

 
 
 
Ozzwald
Professor Quiet
2.1.27  Ozzwald  replied to  Just Jim NC TttH @2.1.26    one month ago

Something you seem to be lacking on the subject.

My only knowledge on the subject is from articles which I can reference, your knowledge is apparently non-referenceable.

 
 
 
Mark in Wyoming
Professor Silent
2.1.28  Mark in Wyoming   replied to  Sparty On @2.1.16    one month ago

Ruger 6mm creedmore, used it last hunting season, filled 4 out of 6 tags, working up some heavier rounds to increase distance, it's shooting sub MOA out to 600 yrds, but after that the wind starts making it drift, and if the wind ever stopped in Wyoming, everyone would fall over.

 
 
 
Tessylo
Professor Principal
2.1.29  Tessylo  replied to  Ozzwald @2.1.18    one month ago

Awesome!

 
 
 
Tessylo
Professor Principal
2.1.30  Tessylo  replied to  Just Jim NC TttH @2.1.19    one month ago

Then why did you ask?

Sounds like you're backpedaling now.

 
 
 
Just Jim NC TttH
Professor Principal
2.1.31  Just Jim NC TttH  replied to  Tessylo @2.1.30    one month ago

Not at all. I thought it was well known.

 
 
 
Tessylo
Professor Principal
2.1.32  Tessylo  replied to  Just Jim NC TttH @2.1.31    one month ago

So where's the link?

 
 
 
Drinker of the Wry
Junior Expert
2.1.33  Drinker of the Wry  replied to  Ozzwald @2.1.21    one month ago

“Traditionally, gasoline prices are at their lowest during the first week of February and then begin to climb, often peaking right before Memorial Day. Seasonal increases in demand plus a transition to unique fuel blends put pressure on gas prices each spring.”

 
 
 
Tessylo
Professor Principal
2.1.34  Tessylo  replied to  Tessylo @2.1.32    one month ago

and/or reference/citation?

 
 
 
Just Jim NC TttH
Professor Principal
2.1.35  Just Jim NC TttH  replied to  Tessylo @2.1.32    one month ago

[deleted]

 
 
 
Drinker of the Wry
Junior Expert
2.1.36  Drinker of the Wry  replied to  Just Jim NC TttH @2.1.35    one month ago

For anyone that doesn’t know but wishes too:

“Every spring, news reports announce gas refineries are down for maintenance while transitioning from winter-blend to summer-blend gasoline, and soon after prices at the pump go up several cents a gallon. When fall rolls around, the opposite occurs, and prices come down slightly. Why is there a change, and why can’t we just continue using the cheaper winter blend?”

 
 
 
Tessylo
Professor Principal
2.1.37  Tessylo  replied to  Just Jim NC TttH @2.1.35    one month ago

So you don't have the reference as Ozzwald did for his claims, you have nothing to back up your claims.

Got it.

 
 
 
Just Jim NC TttH
Professor Principal
2.1.38  Just Jim NC TttH  replied to  Drinker of the Wry @2.1.36    one month ago

Thanks but I was reluctant. Appreciate it my friend.

 
 
 
Just Jim NC TttH
Professor Principal
2.1.39  Just Jim NC TttH  replied to  Tessylo @2.1.37    one month ago

See 2.1.36

 
 
 
Right Down the Center
Senior Guide
2.1.40  Right Down the Center  replied to  Tessylo @2.1.32    one month ago

You have said many times you don't open links.  Why the interest?

 
 
 
Tessylo
Professor Principal
2.1.41  Tessylo  replied to  Just Jim NC TttH @2.1.38    one month ago

Those who make the claim should back them up.

see 2.1.37

 
 
 
Drinker of the Wry
Junior Expert
2.1.42  Drinker of the Wry  replied to  Just Jim NC TttH @2.1.38    one month ago

No problem.

So there are now 2 links but the bitching continues.

 
 
 
Just Jim NC TttH
Professor Principal
2.1.43  Just Jim NC TttH  replied to  Right Down the Center @2.1.40    one month ago

Exactly

 
 
 
Just Jim NC TttH
Professor Principal
2.1.44  Just Jim NC TttH  replied to  Drinker of the Wry @2.1.42    one month ago

[deleted]

 
 
 
Right Down the Center
Senior Guide
2.1.45  Right Down the Center  replied to  Just Jim NC TttH @2.1.43    one month ago

You seem to have a fan.

 
 
 
Right Down the Center
Senior Guide
2.1.46  Right Down the Center  replied to  Tessylo @2.1.41    one month ago

[deleted]

 
 
 
Split Personality
Professor Guide
2.1.47  Split Personality  replied to  Drinker of the Wry @2.1.36    one month ago
Summer Blend

During the summertime, gasoline has a greater chance of evaporating from a vehicles fuel system. This can produce smog and increase emissions. Refiners produce gasoline blends that have a lower Reid Vapor Pressure (RVP) which helps reduce the chance of gasoline evaporation in vehicles during the summer. Depending on the state and region, RVP regulations can vary. During the summer with higher octane fuel comes an increase in cost. Some areas could pay as much as 15 cents more per gallon to fill up their vehicle.

Winter Blend

Winter blend gasoline has a higher RVP which means it evaporates more and allows gasoline to ignite more easily to start your vehicle during cold temperatures. It’s much cheaper to produce which is why gas prices are less during this time of year, which is usually September until April. Gasoline prices usually drop somewhere between 10-30 cents per gallon. Many retailers continue to sell their summer gasoline until they run out of their inventory before switching and selling winter blend.

Other things to consider throughout the year

During February many refineries begin annual maintenance. Refineries are shutdown to repair and inspect any equipment that needs replaced. It also helps refineries with the preparation to retool for summer blend fuels.

March through April is the transition season at refineries as they switch over to summer blend gasoline. In case of a supply shortage and more demand for summer blends, refineries often produce more. This can cause a large increase in fuel prices since in can lead to lower inventory levels at the refineries. The refineries have until May 1 st,   but retailers usually have until June 1 st   to be completely switched over to summer blend fuels since it takes some time to get from the pipelines to terminals.

What is the difference between summer blend and winter blend gasoline and how they can impact cost? - Guttman Energy
 
 
 
Drinker of the Wry
Junior Expert
2.1.48  Drinker of the Wry  replied to  Split Personality @2.1.47    one month ago

Good info.

 
 
 
Split Personality
Professor Guide
2.1.49  Split Personality  replied to  Drinker of the Wry @2.1.48    one month ago

I'm still bewildered by people that take their cars in and want the winter air removed from their tires and replaced with summer air.

Especially if they are already riding on nitrogen. jrSmiley_98_smiley_image.gif

 
 
 
devangelical
Professor Principal
2.1.50  devangelical  replied to  Split Personality @2.1.49    one month ago

what I noticed most when I was in mexico last year was that diesel was half the price of unleaded at the pump.

 
 
 
Thrawn 31
Professor Guide
2.1.51  Thrawn 31  replied to  Ed-NavDoc @2.1.1    one month ago

Indeed, and that is exactly why it won’t happen. Currently there is no incentive for companies to increase refining capacity, not while they are making greater and greater profits with what they have. Why increase your own costs while reducing profits?

 
 
 
cjcold
Professor Quiet
2.1.52  cjcold  replied to  Kavika @2.1    one month ago

We finally disagree on something.

"Drill baby drill" is the most idiotic statement ever.

Anthropogenic global climate change will end us.

Mankind is causing the next extinction level event. 

Almost glad I won't be around to experience the worst of it.

"Told you so"  would be a hollow victory.

 
 
 
Ed-NavDoc
Professor Quiet
2.1.53  Ed-NavDoc  replied to  Sparty On @2.1.5    one month ago

Here in my home state of Arizona down on the AZ/Mexico border, price of gas right now is about $3.89 a gallon with diesel even higher. Arizona has no oil refinery capability and all gas has to be shipped in from California or Texas, which drives the price up.

 
 
 
JBB
Professor Principal
2.1.54  JBB  replied to  Ed-NavDoc @2.1.53    one month ago

So, gas is $3.20 a gallon at BJ's in The Bronx because The Bronx had lots of oil refineries so our gas doesn't have to be shipped in?

It sounds like you are being gouged...

 
 
 
Split Personality
Professor Guide
2.1.55  Split Personality  replied to  cjcold @2.1.52    one month ago
Anthropogenic global climate change will end us.

or Russia causing another Chernobyl or worse using multiple thermonuclear weapons

because of .... a history of imperialism by the commies?

Enough to make one's head spin.

 
 
 
Mark in Wyoming
Professor Silent
2.1.56  Mark in Wyoming   replied to  Split Personality @2.1.55    4 weeks ago

Everyone's worried about nukes.

Might be time to concider the other 2 items that make up NBC WMD, biological and chemical.

I seem to remember Russian troops(Special forces) used a chemical agent when those Chechen terrorists took over that theater, killed the terrorists and most of the hostages.

The goal was to put them all to sleep by introducing the gas into the ventilation system, might have used too much.

 
 
 
Sean Treacy
Professor Principal
2.1.57  Sean Treacy  replied to  Mark in Wyoming @2.1.56    4 weeks ago
e time to concider the other 2 items that make up NBC WMD, biological and chemical.

I've seen a lot of conflicting reports about the aftermath of  an EMP pulse as well.  From worse than a nuke to not that big of a deal. 

 
 
 
Ozzwald
Professor Quiet
2.2  Ozzwald  replied to  Ed-NavDoc @2    one month ago
Too bad we do not have decent refining capability to go with it.

You have to keep in mind that 54.36% of U.S. trade in oil, gasoline and natural gas has been exported.  So we do not need refining ability for over half our production.

 
 
 
Drinker of the Wry
Junior Expert
2.2.1  Drinker of the Wry  replied to  Ozzwald @2.2    one month ago
So we do not need refining ability for over half our production.

We do if we want to stop importing oil and oil products while burning hydrocarbons to transport here. 

In 2022, the United States imported about 8.33 million barrels per day (b/d) of petroleum from 80 countries. Petroleum includes crude oil, hydrocarbon gas liquids (HGLs), refined petroleum products such as gasoline and diesel fuel, and biofuels.

https://www.eia.gov/tools/faqs/faq.php?id=727&t=6#:~:text=In%202022%2C%20the%20United%20States,and%20diesel%20fuel%2C%20and%20biofuels.

 
 
 
Ozzwald
Professor Quiet
2.2.2  Ozzwald  replied to  Drinker of the Wry @2.2.1    one month ago
We do if we want to stop importing oil and oil products while burning hydrocarbons to transport here.

Much of the oil we import is a type that we do not produce.  Also you have to remember that oil is sold on the international market, this is pure capitalism and US companies are sometimes outbid for it.

 
 
 
Drinker of the Wry
Junior Expert
2.2.3  Drinker of the Wry  replied to  Ozzwald @2.2.2    one month ago

Yes, we import oil that we can refine because we don’t have enough refineries (see 2 and 2.1).

Also you have to remember that oil is sold on the international market,

Exactly.

this is pure capitalism and US companies are sometimes outbid for it.

No, much of the world’s oil is nationally owned.

 
 
 
cjcold
Professor Quiet
2.2.4  cjcold  replied to  Ozzwald @2.2.2    one month ago

The US of A is now the world's number 1 exporter.

WE'RE  #1! WE'RE  #1! WE'RE #1!

Makes me sad to be an American.

 
 
 
Drinker of the Wry
Junior Expert
2.2.5  Drinker of the Wry  replied to  cjcold @2.2.4    one month ago

Stiffen your upper lip.

 
 
 
cjcold
Professor Quiet
2.2.6  cjcold  replied to  Drinker of the Wry @2.2.5    one month ago

Can't event keep my cock stiff these days.

Which makes me mean, angry and dangerous

 
 
 
Krishna
Professor Expert
2.3  Krishna  replied to  Ed-NavDoc @2    one month ago
Too bad we do not have decent refining capability to go with it.

I was also wondering about that.

Apparently refineries take a rather long time to build. So from the time it becomes obvious that we need more refining capacity to when a new refinery is operational takes longer than one might expect.

 
 
 
Ed-NavDoc
Professor Quiet
2.3.1  Ed-NavDoc  replied to  Krishna @2.3    one month ago

"Apparently refineries take a rather long time to build."

Yep, not including being hugely expensive as well, also including the environmental impact and ever changing EPA restrictions making the companies involved  even more reluctant to build new or even upgrade existing facilities sitting idle.

 
 
 
TᵢG
Professor Principal
2.3.2  TᵢG  replied to  Ed-NavDoc @2.3.1    one month ago

In addition, they are very expensive to just retool to deal with different grades of oil (sweet vs sour spectrum).

 
 
 
Ed-NavDoc
Professor Quiet
2.3.3  Ed-NavDoc  replied to  TᵢG @2.3.2    one month ago

Very much agree with you.

 
 
 
cjcold
Professor Quiet
2.3.4  cjcold  replied to  Ed-NavDoc @2.3.1    one month ago

Unfortunately, the EPA is rather toothless.

Used to work for the EPA and retired in disgust.

Short term profit always trumps long term health.

Trump hired the worst polluter ever and the #1 denier of AGW to run the EPA. It hasn't recovered.

Biden pisses me off on this matter as well.

 
 
 
Ed-NavDoc
Professor Quiet
2.3.5  Ed-NavDoc  replied to  cjcold @2.3.4    one month ago

On this we agree. The EPA was in fact a total cluster flock disaster under Trump's leadership. 

 
 
 
Sparty On
Professor Principal
4  Sparty On    one month ago

And yet the SPR (Strategic Petroleum Reserve) remains at its lowest level in over 40 years.    After being at near record levels prior to his administration.

Seems inconsistent with strategic goals considering such high production rates.

 
 
 
Gazoo
Junior Silent
4.1  Gazoo  replied to  Sparty On @4    one month ago

[deleted]

 
 
 
Sparty On
Professor Principal
4.1.1  Sparty On  replied to  Gazoo @4.1    one month ago

[deleted]

 
 
 
Krishna
Professor Expert
4.2  Krishna  replied to  Sparty On @4    one month ago
And yet the SPR (Strategic Petroleum Reserve) remains at its lowest level in over 40 years.    After being at near record levels prior to his administration.

Despite many folks love of conspiracy theories, the price of commodities (including oil) is governed by supply and demand.

Or perhaps more accurately-- the perceived supply and demand-- as well as traders best guesses as to future supply and demand...

Not so long ago prices were significantly higher. So taking oil out of the SSR would make more available-- increasing the supply and therefore lowering prices.

 
 
 
Sparty On
Professor Principal
4.2.1  Sparty On  replied to  Krishna @4.2    one month ago

Not building up the SPR when production is up isn’t a conspiracy theory.    It’s fact and it’s bad policy.    Policy that Biden owns

 
 
 
cjcold
Professor Quiet
4.2.2  cjcold  replied to  Sparty On @4.2.1    one month ago

So you would rather trash Biden and pay more at the pump? Why do you think the reserves exist?

 
 
 
Sparty On
Professor Principal
4.2.3  Sparty On  replied to  cjcold @4.2.2    one month ago

As noted, not increasing the SPR when supply is high is ill advised and bad policy.    Biden owns that policy.

Full stop ….

 
 
 
JBB
Professor Principal
4.2.4  JBB  replied to  Sparty On @4.2.3    one month ago

Why? The US is energy independent and producing more than any other country!

 
 
 
Sparty On
Professor Principal
4.2.5  Sparty On  replied to  JBB @4.2.4    one month ago

The answer is in the title.    

We could try to have an intelligent conversation on the meaning of “Strategic” and “Reserve” but I’m afraid it would not bear fruit for our dear readers on the left.

Especially the ones who didn’t live through the early 70’s oil embargo.    Guess what country US support of, started that whole debacle?    Try not to Google it for the answer.

 
 
 
Krishna
Professor Expert
4.3  Krishna  replied to  Sparty On @4    one month ago
Seems inconsistent with strategic goals considering such high production rates.

Different people have different goals-- politicians, stock traders, etc. And goals can change. 

And that what makes a market!

(If all the people who influence the price of all all had the same goals-- or the same perceptions-- you wouldn't be able to buy or sell any stocks, futures, derivatives, etc.)

 
 
 
Drinker of the Wry
Junior Expert
4.3.1  Drinker of the Wry  replied to  Krishna @4.3    one month ago
Different people have different goals
Sometimes I'm right and I can be wrong
My own beliefs are in my song
The butcher, the banker, the drummer and then
Makes no difference what group I'm in
I am everyday people, yeah, yeah
There is a blue one who can't accept
The green one for living with
A fat one tryin' to be a skinny one
Different strokes for different folks
And so on and so on and scooby-dooby-dooby

We got to live together
 
 
 
Sparty On
Professor Principal
4.3.2  Sparty On  replied to  Krishna @4.3    one month ago

True, Biden’s policy has been to use the SPR in an attempt to artificially lower energy prices.     Not add to the SPR during record production rates.

Thats bad policy by definition for what we call a SPR.    Perhaps he should change the the name to PCPR.    Politically convenient petroleum reserve ….

 
 
 
Krishna
Professor Expert
4.3.3  Krishna  replied to  Drinker of the Wry @4.3.1    one month ago
We got to live together

I feel the same way! jrSmiley_2_smiley_image.png

(But unfortunately it seems that more and more people don't agree with that . . . )

 
 
 
Ed-NavDoc
Professor Quiet
4.4  Ed-NavDoc  replied to  Sparty On @4    one month ago

That's assuming that the current administration has anything in the way of consistent strategic goals in mind to begin with. Seems to me that for the last 3+ years they have not had much of a clue.

 
 
 
cjcold
Professor Quiet
4.4.1  cjcold  replied to  Ed-NavDoc @4.4    one month ago

By all metrics the USA is doing much better under Biden than it did under Trump.

By all metrics the USA did much better under Obama than it did under Trump.

Trump inherited a great economy from Obama and immediately turned it to shit. Giving tax breaks to his 1% millionaire/billionaire buddies was the worst thing he could have done for the economy and for the country.

 
 
 
JBB
Professor Principal
4.4.2  JBB  replied to  cjcold @4.4.1    one month ago

True...

original

 
 
 
Drinker of the Wry
Junior Expert
4.4.3  Drinker of the Wry  replied to  cjcold @4.4.1    one month ago
Trump inherited a great economy from Obama and immediately turned it to shit
  • In 2019, the U.S. economy grew 2.3%
  • The U.S. economy added 2.1 million jobs in 2019The unemployment rate finished the year at a historic low of 3.5%
  • Fed interest rate was 1.75%

Shit indeed.

 
 
 
Split Personality
Professor Guide
4.4.4  Split Personality  replied to  Drinker of the Wry @4.4.3    one month ago
Trump inherited a great economy from Obama and immediately turned it to shit.

False. but the economy Trump inherited improved at relatively the same rate as it did under Obama.

Giving tax breaks to his 1% millionaire/billionaire buddies was the worst thing he could have done for the economy and for the country.

It certainly contributed to the national debt and one can say that Covid derailed everything at the wrong time,

a perfect storm, if you will.

Reality isn't just a few statistics to prove someone wrong, it is the long view with the right factors weighed

correctly, hence why we are doomed to bounce along the highway of history, because so few ever get it right.

 
 
 
cjcold
Professor Quiet
4.4.5  cjcold  replied to  Drinker of the Wry @4.4.3    one month ago

Pretty sure that Michelle Obama should be dragged screaming and kicking into being POTUS.

Never really trusted anybody who actually wanted the job.

 
 
 
Ed-NavDoc
Professor Quiet
4.4.6  Ed-NavDoc  replied to  cjcold @4.4.5    one month ago

Where's a Jack Ryan when we really need one?

 
 
 
Drinker of the Wry
Junior Expert
4.4.7  Drinker of the Wry  replied to  cjcold @4.4.5    one month ago
Never really trusted anybody who actually wanted the job.

Who do you think has run for the job while not wanting it?

 
 
 
Drinker of the Wry
Junior Expert
4.4.8  Drinker of the Wry  replied to  Split Personality @4.4.4    one month ago

Why are you using cjcold quotes 4.4.1 as mine?

 
 
 
Split Personality
Professor Guide
4.4.9  Split Personality  replied to  Drinker of the Wry @4.4.8    one month ago

Did you not quote him also?

Am I not allowed to agree with you?

jrSmiley_51_smiley_image.gif

 
 
 
devangelical
Professor Principal
4.4.10  devangelical  replied to  Split Personality @4.4.9    one month ago

that must trip up the whole contrarian shtick...

 
 
 
TᵢG
Professor Principal
5  TᵢG    one month ago

Most of the crude from the USA is sweeter (lighter, less Sulphur).    Historically, the USA refineries were set mostly to refine the sour (heavier, more Sulphur) crude oil because it was inexpensive.   This sour crude comes from OPEC and also from Canada.

Our refineries are slowly changing to process more sweet crude.   Smart move, of course, because that means we can make more use of our own natural resources rather than export same while importing sour from nations that do not share our interests.

chart2.svg

 
 
 
Split Personality
Professor Guide
6  Split Personality    one month ago
The situation at   US anchorages   has been quite busy lately. Let’s delve into it:
  1. Galveston, Texas : The anchorages for tankers in the Gulf of Mexico, off Galveston, and at Bolivar Roads (entrance to Galveston Bay) have been   chock-a-block full . These areas are near refineries in Texas City, Baytown, and the surrounding region. The AIS plots show numerous vessels moored near the entrance to the bay and refineries.   The increase in tanker traffic is due to various factors, including rising product exports, crude exports to Canada, re-exports of Canadian crude, and recent rulings allowing exports of certain processed condensates 1 .

  2. California Coast : The largest U.S. port in California has faced a similar situation. At times, there have been   21 tankers —some carrying up to a million barrels of unrefined oil—sitting idle outside the port, waiting to unload. The Coast Guard monitors these tankers using radar, voice communications, patrol boats, and helicopters.   Despite the congestion, anchorages remain open to recreational vessel traffic 2 .

  3. Undersea Pipelines : Federal regulators have concluded that the 2021 rupture of an undersea oil pipeline off the Southern California coast was likely caused by the proximity of anchored shipping vessels.   This highlights the need for ships to anchor farther from undersea pipelines 3 .

In summary, the surge in tanker traffic, changing energy markets, and aging infrastructure have led to crowded anchorages in various U.S. regions. These challenges require careful management and planning to ensure safe and efficient operations.

The situation at US anchorages has been quite busy lately. Let’s delve into it: Galveston, Texas: The anchorages for tankers in the Gulf of Mexico, off Galveston, and at Bolivar Roads (entrance to Galveston Bay) have been chock-a-block full. These areas are near refineries in Texas City, Baytown, and the surrounding region. The AIS plots show numerous vessels moored near the entrance to the bay and refineries. The increase in tanker traffic is due to various factors, including rising product exports, crude exports to Canada, re-exports of Canadian crude, and recent rulings allowing exports of certain processed condensates1. California Coast: The largest U.S. port in California has faced a similar situation. At times, there have been 21 tankers—some carrying up to a million barrels of unrefined oil—sitting idle outside the port, waiting to unload. The Coast Guard monitors these tankers using radar, voice communications, patrol boats, and helicopters. Despite the congestion, anchorages remain open to recreational vessel traffic2. Undersea Pipelines: Federal regulators have concluded that the 2021 rupture of an undersea oil pipeline off the Southern California coast was likely caused by the proximity of anchored shipping vessels. This highlights the need for ships to anchor farther from undersea pipelines3. In summary, the surge in tanker traffic, changing energy markets, and aging infrastructure have led to crowded anchorages in various U.S. regions. These challenges require careful management and planning to ensure safe and efficient operations. - Search (bing.com)
 
 
 
devangelical
Professor Principal
6.1  devangelical  replied to  Split Personality @6    one month ago

at least a dozen parked off the jetty down here and they rotate in and out pretty fast.

 
 
 
devangelical
Professor Principal
6.1.1  devangelical  replied to  devangelical @6.1    one month ago

16 this morning, and an empty LNG tanker...

 
 

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