Okay we know the keystone pipe being shut down is hurting jobs, we know its going to hurt Canada, as it would cost more to ship the oil by truck and rail car.

What do you think the honest no bull shit cost its going to have on gas over the next 2 years.

I think its going to ripple a little, ie Opec will see it as they can get oil prices to rise some, and they will. I think it may effect the gas price here, some from not having an easy "local" supply of oil to refine, and some from just the cost of oil.

So between the price of oil, and the price of gas here I could see it effecting the price about a buck a gallon. I dont see 5 bucks a gallon across the US, at least not from keystone and new permits being paused, maybe from a new law or tax yes I do, but not in 2 years. The other thing is the D's will make sure anything that happens wont happen until after the next mid terms, they wont want to lose what they have. Historically they will lose in the mid terms ( cheating aside ) So they will be careful until then.

If oil goes too high the wells in this country that could be pumping that are not, will start up again. Opec does not want that, they will try to keep it from going too high, yes they want more but they dont want it too high.

The long term is much worse, the shutting down of permits, killing the jobs etc etc will drive it higher over 4 to 6 years. The real issue is if the R's get the white house back in 4 years, they will, if you ask me, be right when the price will spike again. And they will be blamed. In another 4 years after that when the policies change again and it effects the price who knows where we will be.

The “Green” and “Climate Change” groups want to see it sky high.
I’m predicting $5.00 a gallon or more. And the Biden moderates will say they didn’t expect that and it’s Trumps fault.

Truth


Be prepared for every negative consequence of Biden's actions to be blamed on Trump.

Forever.

@ARS24-7

The oil field is about to be good good again down here on the shelf!

new F-250s and boob jobs for everyone!

Regardless of how they don't want us to have the ability to not live in cities so the cost of gas has to rise

Biden was only in one day and made an enemy of Canada.

I hope you right man. Been a slow year down here. Only paid $30K in taxes for 2020

The cheap gas and decent wages has been good. To bad joe and hoe’s mission is to destroy it

While shale production has resulted in the U.S. becoming a major exporter of crude oil, that oil is of the "light sweet variety. And many U.S. refineries are configured to prefer the heavy sour crude that comes from Alberta.

The Canadian crude is actually less expensive than the light sweet crude coming out of the shale producing regions in the U.S. so there may be some negative impact on U.S. gasoline prices. IIRC, the heavy sour crude from Canada replaces that from Venezuela. Some of it is used to produce asphalt.

Let me preface this:

Fuck joe Biden.  The lying cheating crook.



However, holy shit. People need to not speculate about an industry unless they’re willing to put some research into it.


1.  The only country getting fucked by the Keystone XL being cancelled is Canada.

Not only that. It matters very little.

Why Trans Canada didn’t build the border crossing in the last 4 years when they had the permit to do so, speaks to their management being idiots. I literally talked with a former project manager with them last night.  And his reply was “either there’s a story we’re not being told, or the company is run by a bunch of idiots.”

That being said, doesn’t matter:

https://finance.yahoo.com/news/even-without-keystone-xl-u-143013478.html


2.  The oil prices right now are being forced upwards by supply cuts. Not by demand. We’re sitting on a glut of crude. We have refineries operating around 82.5%.  And the tanks are full. Opec+ members are listening to the cut backs and not cheating as much.

So why would prices sky rocket?

https://www.eia.gov/petroleum/supply/weekly/pdf/table4.pdf



That’s just what we have in tanks. Not including floating storage!

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WPULEUS3&f=W


Refinery utilization.  



As soon as oil stabilizes out, countries will start cheating their opec+ cut backs.  More oil will get on the market. Prices will go down.

Cuts, cuts, cuts!

And right now it’s still not economical for us to drill. Why? 1. Expensive.  2. Risk of more oil being flooded in. 3. No place to put it!

The only way we see 4-5 gallon gasoline outside of CA, HI, AK. Is extremely high taxes. Or the economy takes back off again. I mean cruise ships, air planes, everyone going everywhere again.

Do you see the economy recovering under Biden?

I’m not sold.


Edit:

EIA short term outlook:

https://www.eia.gov/outlooks/steo/report/global_oil.php


Basically a slow increase through Q4 of 2022, where demand MIGHT be around pre-covid levels.


There will also be another election in 2022.  Plus, who the fuck knows if Biden survives that long.


Edit 2:

Point 3:

https://finance.yahoo.com/news/big-u-oil-drillers-federal-134847721.html

Drillers bought cheap and stacked deep. 4 years of permits on hand. No where to put the juice.

Also federal land only represents about 25% of drill able land under current discoveries.   And about 10% of it is tapped.

We need reports from Canada