Bank of America is now predicting that Brent crude oil, which drives gas prices, will zoom to $120 a barrel by June 2022.

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measureman said:
My round trip commute to work is 4.4 miles.
Right now the $264 payment thats gone will buy me about 80 gallons of gas a month, enough to go about 1120 miles a month, I should be O.K.
If gas doubles in price I'm down to about 560 miles a month.
But not everyone is like me, it could get rough for some.
I hope the currant big truck and SUV craze doesn't come back to bite some butts.
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Oh it will, people have been saying that for a decade, that gas prices will eventually spike and stay up, but people still bought big trucks and SUVs they didn't need and are now stuck with the bill. People have short memories.
 
I have to chuckle a bit, when Ford and Stellantis (then FCA) said that they were essentially all in on crossovers and trucks, I said repeatedly that it was a bad idea long term. It was impossible for gas prices to stay how they were forever. And here we are…

Just filled up tonight for $4.99/gal (Premium) and know it’s going to get higher. I’m not one to look at price of gas, I have my two or three stations that I know are typically cheaper than the rest, but lately I’m getting gas every time I’m down to 1/2-3/4 tank because I know the price tomorrow is going to be more expensive than it is today.
 
Makes me regret not getting a hybrid last year when I wanted to-but i’m hardly shocked that gas prices went up, tends to happen. Enjoyed my truck while i could.
 
RamFan said:
I have to chuckle a bit, when Ford and Stellantis (then FCA) said that they were essentially all in on crossovers and trucks, I said repeatedly that it was a bad idea long term. It was impossible for gas prices to stay how they were forever. And here we are…

Just filled up tonight for $4.99/gal (Premium) and know it’s going to get higher. I’m not one to look at price of gas, I have my two or three stations that I know are typically cheaper than the rest, but lately I’m getting gas every time I’m down to 1/2-3/4 tank because I know the price tomorrow is going to be more expensive than it is today.
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Aye, but they are coming out with hybrid and EV trucks and SUV's now. Look at the R4P, X5 45e, Jeep 4xe products...etc.
 
CourierDriver said:
I get 50mpg on my motor cycle,,,but I cant buy groceries with it,,,lol
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Sure you can...
man-riding-an-over-loaded-motorcycle-in-mengwi-bali-indonesia-DX6JG9.jpg
 
Update- some traders are now predicting $200 a barrel this month. Many including me though the $120 a barrel was not going to be seen. Can't discount the $200 a barrel prediction.

www.foxbusiness.com

Oil traders eye $200 per barrel this month: report

Oil traders believe the ongoing Russian-Ukraine war and its international fallout could drive up prices this month, with some optimistic traders eyeing a price over $200 per barrel.
www.foxbusiness.com www.foxbusiness.com
 
Snagglefoot said:
Thanks for the post. Brent is $82.55. I’ll report back June 1, Inshallah. Meanwhile, the oil sands producers are cash cows, with Canadian Natural Resources generating a net profit of over a billion US dollars per quarter. They are in no hurry to increase production but are acquiring natural gas producers to hedge their steam production costs. Also, most US shale oil producers are trying to tidy up their balance sheets and finally give their shareholders a real return on their investment. Watch the Baker rig count to get an idea if they are going to get going again. It comes out every Friday.
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I replied to my own post here. Yes, WTI hit $120. Even WCS (Western Canadian Select) oil sands product hit $100. To honest, I don’t think the bank factored in a war in you know where, but hey, they picked a price and hit it 3 months early. Pretty remarkable.
 
In years past, long discussions with Mobil Oil engineers led me to a few personal conclusions. The first was that no oil shortage ever existed. The second is that the cost for recovery, transportation and refining of oil is comparatively low. The third is that oil and natural gas is probably not biological in origin. All of the planets in the solar system contain huge quantities of hydrocarbons Why is it that Earth's hydrocarbons were produced by life, and on other planets, the stunning quantities of Hydrocarbons are just the building blocks of the solar system?

While the production cost numbers seem huge, the quantity of oil produced is absolutely stunning. The USA is currently producing 12 million barrels per day! At a general cost of about $30 per bbl, despite claims to the contrary. We've refined fracking technology to the point where it is cost effective beyond our initial expectations of $50 per bbl.
 
Last week I started drilling for oil in my back yard.
I think today we are on the Texas Tea- Black gold...:D
I found it near this ancient burial ground. Don't get upset as you can see my engineers are preserving it...
download.jpg
 
Cujet said:
In years past, long discussions with Mobil Oil engineers led me to a few personal conclusions. The first was that no oil shortage ever existed. The second is that the cost for recovery, transportation and refining of oil is comparatively low. The third is that oil and natural gas is probably not biological in origin. All of the planets in the solar system contain huge quantities of hydrocarbons Why is it that Earth's hydrocarbons were produced by life, and on other planets, the stunning quantities of Hydrocarbons are just the building blocks of the solar system?

While the production cost numbers seem huge, the quantity of oil produced is absolutely stunning. The USA is currently producing 12 million barrels per day! At a general cost of about $30 per bbl, despite claims to the contrary. We've refined fracking technology to the point where it is cost effective beyond our initial expectations of $50 per bbl.
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Hydrocarbon is a pretty generic term.


Crude oil contains many different hydrocarbons in it. This is the basis of the modern refinery where each hydrocarbon is extracted by distillation.

Isn't the bulk of hydrocarbons found on other planets and moons Methane? What about the other 11 hydrocarbons? How much of each of those is found in our solar system?
 
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