Obama has little do with it directly other than the normal lack of a real energy policy. Embassy bombings, Pemex "blast", refinery and pipeline bottlenecks are given as the "reasons." Given this is the low point in demand typically, I don't want to see the summer prices.
It's about time!! Geologists have to make a living too!! Don't be so selfish,.... just go and yell at kids playing on your lawns, it will make you feel better.
FYI,... most wells run on timers. They pump for a bit... then stop. Oklahoma is producing oil,.. maybe just not down the roads you drive.
FYI,... most wells run on timers. They pump for a bit... then stop. Oklahoma is producing oil,.. maybe just not down the roads you drive.
It's called inflation. The value of your dollar is becoming worthless. Oh, my refinery stock is up 37% since I bought it late last year. Too bad that 37% equates to very little after the impact of inflation on the costs of everything else. If you are holding cash, you are losing purchasing power exponentially, by the day.
It's called economic shock testing. the international bankers and wallstreet cohorts manipulated the futures contracts back in 2008 to drive the price sky high for fun and profit and then study the economic results. So now a could years later the prices which were considered crazy before are common and become acceptable to pay.
What will the fsa do when gas is $5/gal?
Electric pump jacks are pretty common today. Many intermit on and off times. They may only pump 8 hours of the day. They run until the run time is up, then shut off for the set off time, then start back up for on time. This cycle time is set by an oilfield employee that usually knows what is going on.
FYI, in most of Oklahoma there isn't a shortage of unrefined crude, its a shortage of the refineries getting the gas to the market.
I live in a town with the 10th largest refinery in the US, and our gas prices are typically 11-13 cents higher than anywhere in okla.
Splain that one to me..
