AZDuffman
AZDuffman
Joined: Nov 2, 2009
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October 25th, 2014 at 8:28:23 PM permalink
I was amazed at this difference. Here in suburban Pittsburgh it is mostly $3.399. But in the country about 40 miles north it dropped to $3.059. A 10% swing.
All animals are equal, but some are more equal than others
teddys
teddys
Joined: Nov 14, 2009
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October 26th, 2014 at 4:40:46 AM permalink
Quote: boymimbo

Alberta Crude has been selling at $85 for a while now, as their selling prices are different than say West Texas or North Sea crude. As oil prices drop around the world, Alberta's price has remained stable.

Once you get below $75, that hurts Alberta, as odious alluded to.

Not entirely; Western Canadian Select is down from $85 to $75 in the last two months.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
beachbumbabs
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beachbumbabs
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October 29th, 2014 at 8:45:47 AM permalink
I think it's possible the Saudis are taking the long view and trying to minimize the value of the ISIL theft. The lower the price of gas, the less assets ISIL has to work with, because they mainly took over oil wells and are counting on that income to fund their operations. Make the oil wells worthless, either with cheap crude or by disrupting the flow to market, or even destroying the wells ISIL holds, and they're out of business.
If the House lost every hand, they wouldn't deal the game.
DRich
DRich
Joined: Jul 6, 2012
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October 29th, 2014 at 10:01:34 AM permalink
Quote: beachbumbabs

I think it's possible the Saudis are taking the long view and trying to minimize the value of the ISIL theft. The lower the price of gas, the less assets ISIL has to work with, because they mainly took over oil wells and are counting on that income to fund their operations. Make the oil wells worthless, either with cheap crude or by disrupting the flow to market, or even destroying the wells ISIL holds, and they're out of business.



I also think the US government is encouraging the Saudis to do it. Low oil prices is one of the hardest ways to hit Russia economically.
Living longer does not always infer +EV
beernuts
beernuts
Joined: Nov 2, 2014
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November 2nd, 2014 at 2:54:28 PM permalink
$2.66 per gal
EvenBob
EvenBob
Joined: Jul 18, 2010
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November 2nd, 2014 at 3:14:29 PM permalink
Quote: beernuts

$2.66 per gal



Vermont or Peru?
"It's not enough to succeed, your friends must fail." Gore Vidal
beernuts
beernuts
Joined: Nov 2, 2014
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November 2nd, 2014 at 3:24:54 PM permalink
It's $2.66 at the local Chevron.
I do everything I can to get the best gas mileage. I accelerate smoothly, I stick to the spped limit, and I keep my Firestone tires properly inflated.
It works too!!
EvenBob
EvenBob
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November 2nd, 2014 at 3:39:21 PM permalink
Quote: beernuts

It's $2.66 at the local Chevron.
!



Is the Chevron in the US?
"It's not enough to succeed, your friends must fail." Gore Vidal
OnceDear
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OnceDear
Joined: Jun 1, 2014
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November 2nd, 2014 at 3:48:34 PM permalink
Here in the UK it's £1.30 per litre, which I make to be $7.87 per US gallon.
Take care out there. Spare a thought for the newly poor who were happy in their world just a few days ago, but whose whole way of life just collapsed..
coilman
coilman
Joined: Jan 29, 2012
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November 2nd, 2014 at 4:20:28 PM permalink
Quote: odiousgambit



One theory is that they are trying to put the hurt on the Frackers and the Oil Sands producers, who need the price to be $75+



We also bring natural gas and propane to the surface using the FRAC method. Last winter people who heated using PROPANE got hurt as bad as people that heat using electricity due to shortage and demand

Waiting to see how the next six weeks go out here..... oil companies have set budgets and usually try to spend them before year end

October was a decent month for my crew and most of the other crews around our shop too


$1.02 a Litre out here about $3.40 US per US gallon

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