US reaches No. 1 spot in oil and gas

[Gilligan]

Some good news...


http://www.bloomberg.com/news/articles/2015-06-10/u-s-ousts-russia-as-world-s-top-oil-gas-producer-in-bp-report

 

[DynaDink]

OK that's all well and good. The price of fuel has not gone down to a sustainable and affordable level to reflect the upsurge in production.

 

[Gilligan]

OK that's all well and good. The price of fuel has not gone down to a sustainable and affordable level to reflect the upsurge in production.

? I would have to disagree with that. Prices came down a LOT..roughly a 25% drop from peak. They dropped even lower when the price of oil initially collapsed, of course..but some rebound was inevitable. And production is no longer increasing at the rate it was because of the huge reduction in oil prices.

 

[Hijinx]

Yet at the pump we see it gradually creeping upwards, a few pennies a week.

 

[Gilligan]

Yet at the pump we see it gradually creeping upwards, a few pennies a week.

As supply and over-stocks ramp down, prices creep back up. Pretty normal stuff.

 

[Hijinx]

As supply and over-stocks ramp down, prices creep back up. Pretty normal stuff.

Dependent on how much it creeps.

 

[GURPS]

Yet at the pump we see it gradually creeping upwards, a few pennies a week.

I was enjoying the 2.05 for a while there .....

 

[DynaDink]

With all that said, prices are still way higher than they should be. Especially in Md., and that effects availability and prices of consumer goods, not to mention food. Really, how much profit is enough for the oil companies? IMHO, bio diesel should be greatly encouraged and plentiful for the truckers. Talk about a renewable resource.

 

[Hijinx]

I was enjoying the 2.05 for a while there .....

Who didn't?

Not sure how much the cost of getting food to market has gone down, but I have seen no reflection of lower cost at Food Lion or McKays.