Higher Fuel Prices

[seasick]

Watching the suffering in Ukraine puts the sacrifice of higher fuel prices in perspective.

Amen Brother.

 

[ROBERTH]

What am I missing here? If we only take 3% oil from Russia, then how is the gas prices rising so much over such a small amount of impact? Certainly we can make up for it elsewhere if not our own reserves.

 

[Doc Stressor]

Oil (and therefore gasoline) is a global commodity that is largely priced through futures contracts. Refineries agreed to pay specific prices for delivery of X barrels of oil at a future date. The idea is to lock in prices at the current rate when they think a barrel of oil will cost more in the future. So things like wars or anything that might disrupt supply adds uncertainty that raises the premium on future contracts.

The fact that we only import a small percentage of our oil from Russia has little effect on the global price. Other countries are far more dependent on Russian oil and they are worried about the effect of production declines in Russia as several major oil companies (BP, Shell, and Exxon Mobil) are pulling out. Plus several big shipping companies have suspended operations at Russian ports. The net result will be less oil going into the global market. The law of supply and demand results in higher prices.

The fact that we happen to be the biggest oil producer in the world has little to do with global prices. All of the major US oil companies are in fact multinational corporations. They are run by Boards of Directors who have a fiduciary responsibility to their shareholders. If they can get a few cents more exporting oil to other countries, they are bound to do that in order to increase profits and shareholder value.

What we pay for gas also has a lot to do with the cost of refining crude oil. All crudes are not the same and all refineries cannot process all grades of crude. So termination of oil imported from Russia is going to have an effect on the margins charged by refineries. Here is an interesting article from the Wall Street Journal that explains why we have been importing oil from Russia in the first place:

https://www.wsj.com/articles/why-does-the-u-s-still-buy-russian-oil-11646151935

 

[Fishtales]

Not so funny thing we have research vessels sounding the ocean bottom 20 miles off the coast of Delaware and Maryland to locate future locations for wind turbines to generate electricity. I don’t think you could convince a 6th grader (not a public schooled one) that this is going to be cost effective without a massive dose of tax payer subsidies. Sorry I ain’t buying the facade. Time for a reality check on the time frame to switch to renewables etc. We’ll destroy the economy and the country while we allow others to destroy the environment processing fossil fuels less efficiently then we can.

Too funny Pat... Not a public schooled one... LOL.

 

[SeanC]

We are paying the equivalent of USD$5.50/gal here in my area of Australia and my 92 gal tank is basically empty. Filling it is going to hurt, and here I am considering putting in a 56gal aux tank.

 

[Father's Day]

Too funny Pat... Not a public schooled one... LOl

 

[Punchline Cap]

Not so funny thing we have research vessels sounding the ocean bottom 20 miles off the coast of Delaware and Maryland to locate future locations for wind turbines to generate electricity. I don’t think you could convince a 6th grader (not a public schooled one) that this is going to be cost effective without a massive dose of tax payer subsidies. Sorry I ain’t buying the facade. Time for a reality check on the time frame to switch to renewables etc. We’ll destroy the economy and the country while we allow others to destroy the environment processing fossil fuels less efficiently then we can.

A recent sale of the rights for wind turbines off the coast of New Jersey went for more than 4 billion dollars. Energy companies must see this as a viable source of future energy to make that kind of investment. The federal government now has that $4 billion to invest in renewable energy sources without tapping the taxpayers. I share the concern of all Americans with the dramatic rise in gas prices and this concern should contribute to more research and development of renewable and alternative energy resources as well different oil sources.Fossil fuels though have been proven to be the most detrimental to the environment, contribute to global warming and most of all are finite. And on a selfish point of view, right now boats and ships can only be powered by three different means, fossil fuels, nuclear and wind. I am no sailer, I doubt if they have nuclear reactors available for 23’ center consoles so we need them to save US the gas.

 

[family affair]

I was really hoping these would be available by now:

 

[Punchline Cap]

I was really hoping these would be available by now:
View attachment 24915

Does it come with Homer Simpson to run it?

 

[family affair]

Does it come with Homer Simpson to run it?

Na. Based on my research it was intended to be operated by your average DIY boater who's under the influence of other boating activities:

 

[Chessie246G]

A friend in the Florida panhandle just paid 6.21 gal at the marina. Sent me a pic. $961.31 fill up.

 

[Fishtales]

A recent sale of the rights for wind turbines off the coast of New Jersey went for more than 4 billion dollars. Energy companies must see this as a viable source of future energy to make that kind of investment. The federal government now has that $4 billion to invest in renewable energy sources without tapping the taxpayers. I share the concern of all Americans with the dramatic rise in gas prices and this concern should contribute to more research and development of renewable and alternative energy resources as well different oil sources.Fossil fuels though have been proven to be the most detrimental to the environment, contribute to global warming and most of all are finite. And on a selfish point of view, right now boats and ships can only be powered by three different means, fossil fuels, nuclear and wind. I am no sailer, I doubt if they have nuclear reactors available for 23’ center consoles so we need them to save US the gas.

It is an investment in or insurance for the future for sure. The problem is green energy at scale won't be viable, reliable or readily available for years. Do a google on the cape wind project off MA and see how long this has been going on. The problem is we need to produce enough fossil fuel-based energy (includes electricity) for the next 10-20 years while we in parallel develop and mature the technology and products that enable a rational transition. Some in govt believe they can imagine a green future and it will happen. This is just a pipe dream and it looks like we will learn it the hard way as we have incompetence at the helm of the US currently. The current trajectory may just destroy the marine and other industries. I wish the policies that our leaders enact would apply them first. How about a battery powered Marine One or Air Force One and lead by example?

 

[Punchline Cap]

It is an investment in or insurance for the future for sure. The problem is green energy at scale won't be viable, reliable or readily available for years. Do a google on the cape wind project off MA and see how long this has been going on. The problem is we need to produce enough fossil fuel-based energy (includes electricity) for the next 10-20 years while we in parallel develop and mature the technology and products that enable a rational transition. Some in govt believe they can imagine a green future and it will happen. This is just a pipe dream and it looks like we will learn it the hard way as we have incompetence at the helm of the US currently. The current trajectory may just destroy the marine and other industries. I wish the policies that our leaders enact would apply them first. How about a battery powered Marine One or Air Force One and lead by example?

More drilling permits have been granted under this administration than the last. Maybe the oil companies have once again taken advantage of a global situation to obtain record profits. Why aren’t the Saudi’s opening up the tap? Because why would they when they can get $100 a barrel now. In my opinion one of the biggest problems with American business and investors is that they think of the next quarter and not five or ten years down the road. Eisenhower passed the National Highway act in 1956. It has been estimated that it wasn’t completed until 1992. The Panama Canal took ten years to build. How much fuel did those two projects save? I receive my electric from Peco Electric. It is generated at Limerick Nuclear Power Plant. That technology was from the fifties and was constructed in the sixties and seventies. Why aren’t we updating atomic energy? What about higher CAFE standards on new cars? Maybe the oil lobby has something to say about it? As for battery powered airplanes and helicopters I think they are way, way off but a battery powered presidential limo and Secret Service vehicles could be done in quick time. If Americans could put a man on the Moon in ten years why can’t we try for energy independence and clean energy in a similar type of time frame?

 

[Cadeco]

Regular gas around here is at $4.39 / $4.59. I have not looked for the "ethanol free" prices, but I hope this summer i won't have to be on the closest sandbar

 

[Fishtales]

More drilling permits have been granted under this administration than the last. Maybe the oil companies have once again taken advantage of a global situation to obtain record profits. Why aren’t the Saudi’s opening up the tap? Because why would they when they can get $100 a barrel now. In my opinion one of the biggest problems with American business and investors is that they think of the next quarter and not five or ten years down the road. Eisenhower passed the National Highway act in 1956. It has been estimated that it wasn’t completed until 1992. The Panama Canal took ten years to build. How much fuel did those two projects save? I receive my electric from Peco Electric. It is generated at Limerick Nuclear Power Plant. That technology was from the fifties and was constructed in the sixties and seventies. Why aren’t we updating atomic energy? What about higher CAFE standards on new cars? Maybe the oil lobby has something to say about it? As for battery powered airplanes and helicopters I think they are way, way off but a battery powered presidential limo and Secret Service vehicles could be done in quick time. If Americans could put a man on the Moon in ten years why can’t we try for energy independence and clean energy in a similar type of time frame?

When you are the leader, the buck stops with you - period. Stop blaming other nations, past presidents and oil companies. A leader takes ownership and fixes the problem versus obfuscating the issue. Who would add a 15% tax on natural gas to the build back bill that was passed? - a fool. A real leader would call the fossil fuel industry leaders in and say "what do we have to do for you to have faith in us, make the big long term investments and start producing more energy asap?" Instead we have word salad, misinformation and double speak while the marine industry is on the verge of getting crushed.

Biden administration freezes new oil and gas drilling leases after court rules against key climate tool

The pause comes after a judge ruled against Biden's social cost of carbon metric, which uses models to put a value on each ton of carbon dioxide emitted to quantify the economic harm caused by the climate crisis, like sea level rise and wildfires.

www.cnn.com

Biden wants US oil to drill more. Here's why they're holding back

The war in Ukraine has touched off a feud between the White House and U.S. oil industry as many companies reap record profits from rising prices despite pumping less crude than before the pandemic, leaving American consumers beset by surging gasoline costs.

www.stripes.com

Sorting out Biden's comments on oil drilling and fracking

In what was likely the first-ever presidential debate that observed social distancing, in light of the coronavirus crisi

www.politifact.com

Have Biden Administration Policies Reduced U.S. Oil Production?

Republicans have ramped up their criticism of Biden's agenda as Russia-Ukraine crisis throws the global energy market into a tailspin.

www.newsweek.com

 

[PointedRose]

Well this has turned really fun… boating is a luxury pastime for most… far from a necessity… anyone that can’t afford the gas can sell their boat at record high prices quite quickly

 

[Randy Clement]

A recent sale of the rights for wind turbines off the coast of New Jersey went for more than 4 billion dollars. Energy companies must see this as a viable source of future energy to make that kind of investment. The federal government now has that $4 billion to invest in renewable energy sources without tapping the taxpayers. I share the concern of all Americans with the dramatic rise in gas prices and this concern should contribute to more research and development of renewable and alternative energy resources as well different oil sources.Fossil fuels though have been proven to be the most detrimental to the environment, contribute to global warming and most of all are finite. And on a selfish point of view, right now boats and ships can only be powered by three different means, fossil fuels, nuclear and wind. I am no sailer, I doubt if they have nuclear reactors available for 23’ center consoles so we need them to save US the gas.

All as I know it's that a few years ago I was paying $2 a gallon for fuel with a different man in office and don't give me a president does not influence the price of fuel!!!

 

[Randy Clement]

Ok my friends we were in a pandemic nobody was driving, as things started to ease up the gas companies wanted to make up there loses. That's what this is all about, so please let's not make this into something it's not, especially on this site.

Get your head out of the sand! In one day of this high price they made up as you say the loss?
Stop voting for dumocrats and you will see the difference in how much gas costs you!

 

[Punchline Cap]

I did not wish this becoming a political argument on this site. I just wanted to point out that the federal government made $4 billion on leases on wind farms off of NJ. I wanted to make the point that this money could be reinvested in clean renewable energy without spreading the cost to the taxpayer. I have a 21 year old daughter and hopefully some grandchildren in the future and I would like to leave a better planet to them, that is all. Let’s get back to boats and fishing and stop with any insults.

 

[Fishtales]

Well this has turned really fun… boating is a luxury pastime for most… far from a necessity… anyone that can’t afford the gas can sell their boat at record high prices quite quickly

I totally agree and for the record high fuel prices don't impact me much.
Unfortunately, it is a big deal for many in this country and some on this board are looking for leadership to address the problem versus letting it explode so the so called green energy has a path.