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Posts Tagged ‘gas prices’

Gas Prices on the Rise Again

January 12th, 2009 2 comments

It looks as though the low gas prices are going away.  CNN is saying that gas prices are going back up after sliding down from the July 11th High that has hurt so many and aided in the economic crisis we are in now.  Though the gas prices going up is a good sign for gas and oil workers in the south as that means the demand for more fuel is rising.  Typically the winter months begin the rise up to the spring and summer travel season meaning more fuel.  This could be s sign of a strengthening economy.  When the demand goes up for fuel so does the demand for support of goods to supply.  Though this is only a hope for a need to supply jobs.  For me the gas industry directly effects my family.  If the off shore wells are in production that means my family business of making pipe for oil wells and pipeline is needed.  So in turn th gas price is a god send to support my family.

But rising gas prices are going to hurt others that are already hurting and don’t work in the industry.  So as a socially responsible citizen I try to transfer the funds to companies that make goods here.    So my buy American Attitude is in full swing.

I doubt the projection of $1 a gallon gas is probably not going to happen.  That failure is probably good.

Check out the CNN.com Artilce

Gas-price slide shifts into reverse, rises 12 cents in 3 weeks

(CNN) — The U.S. average price for regular unleaded gasoline rose by nearly 12 cents in the past three weeks, marking the first increase in six months, according to a national survey released Sunday.

“It is the first rise since July 11 last year when prices hit their all-time high,” said Trilby Lundberg, publisher of the survey.

The average price of self-serve regular unleaded gasoline is $1.78, according to the Lundberg Survey, which is based on responses from more than 5,000 service stations nationwide. The latest survey looked at prices January 9.

“The price had to hit bottom sometime,” Lundberg said.

She said part of the reason for the price spike is recent indications of production cuts among OPEC members, which are aimed at driving up oil prices during a time of year when there is a decreased demand for gasoline.

“January historically is the lowest gasoline usage month,” Lundberg said.

Despite the increase, gas prices are still $1.29 lower than they were on January 11, 2008, she said.
Drivers in Billings, Montana, had the cheapest gas on average, paying $1.34. Motorists in Anchorage, Alaska, paid the most, at $2.32.

$1 Gallon Gas by 2009

December 6th, 2008 No comments

Oil Executive Joe Petrowski, CEO of Gulf Oil is predicting $1 a gallon gas in early 2009.  In an article at TheBostonChannel.com shares a perspective on the oil & gas industry.  Petrowski stated that the industry often overreacts. Read more about the Gulf Oil wholesaler’s statements.

Though my pocket will certainly enjoy the break in fuel prices, but gas prices this low will effect American Crude oil prices.  Oil and Gas producers likely can’t afford to produce at rates that low long-term.  I don’t want to give out any ideas – some company’s may not be able to weather the cost of production – thus creating another gap.  With prices so low the “Drill-Baby-Drill” days of Sarah Palin wont be feasible.

I’m not saying raise prices of fuel – I am pointing out the cost of inflation.  Also I would like to point out the obvious that when Wall-Street and the Auto Industry get bailed out the Oil and Gas industry will be next.  Just when hope is insight the real work has just begun.  I am no economist but throwing money at Wall-Street and the Auto Industry is only part of the solution – some fundamental change has to be made. When in times of peril we turn to the Government to solve the problem – to paraphrase Sharat (@ravehead) – “recovery will not come from expensive/shiny titles, but from the ranks”.

Ireland Cars Go Green: 10% All Electric by 2020

December 1st, 2008 3 comments

With reports of Gas Prices Dropping Ireland Announces that by 2020 10% of cars will be all electric.  Businesses will be able to write off 100% of the cost in taxes.  Though gas prices are dropping it still isn’t stopping European law makers from making dramatic changes in the environmental policy.  The change will have a high cost with changes to infrastructure to handle the increase in electric vehicles as well as a decrease in revenue growth from petroleum.

According to Gas2.org:

The Irish government has announced radical plans to introduce more than 250,000 electric cars onto the nation’s roads by 2020, a staggering ten percent of the total vehicles in the country.

If the scheme is successful, Sustainable Energy Ireland (SEI), the state energy agency, estimates an annual cut in CO2 emissions of around 350,000 tonnes. Transport currently accounts for more than a third of Ireland’s carbon emissions, higher than any other sector.

Under the plan, launched last week, businesses will be eligible to join an Accelerated Capital Allowance Scheme, allowing them to claim a 100 percent tax write-off when they convert their fleet to EVs.

However, officials are under no illusions over the scale of the challenge to wean the country’s drivers off their dependence on fossil fuels. According to SEI chair Brendan Halligan, “We will need to alter our attitudes towards electric vehicles and accept that there is no other way forward.”

The Irish scheme follows earlier news of a German plan to introduce one million EVs and plug-in hybrid electric vehicles over the next eleven years.

As a supplement to the article above the Irish Examiner reported this:

Thursday, November 27, 2008

More than 250,000 electric cars to grace roads by 2020

By Seán McCárthaigh

MORE than 250,000 electric cars will be on Irish roads by the end of the next decade.

And, in an incentive to have 10% of all Irish-registered vehicles powered by electricity by 2020, the Government will be offering a 100% tax write-off to businesses.

Energy Minister Eamon Ryan yesterday expressed confidence the new tax allowances could see Ireland become a major test centre for car manufacturers.

The incentives come under the Accelerated Capital Allowance Scheme, designed to encourage firms to switch to more energy-efficient equipment.

A special taskforce is also being established which will examine the infrastructure necessary for a national roll-out of electric vehicles, especially the availability of battery-charging facilities.

The state energy agency, Sustainable Energy Ireland (SEI), is also to set up a €1 million project to research, develop and promote the use of electric vehicles, including public demonstrations of electric cars.

SEI has also published a buyer’s guide and developed a calculator to help motorists estimate the cost of switching from petrol and diesel models.

However, an SEI report published last May revealed there are few immediate economic benefits for motorists to change to electric or hybrid cars due to their high purchase cost, even though they cut down on CO2 emissions and have lower running costs.

SEI estimates CO2 levels in the Republic could be cut by 350,000 tonnes if the target of 10% of car-owners switch to electric models over the next few years.

Transport accounts for 35% of Ireland’s greenhouse gas emissions — the largest of any sector including industry and private households.

SEI chair Brendan Halligan admitted a significant amount of work was still necessary for electric cars to gain widespread acceptance. “We will need to alter our attitudes towards electric vehicles and accept that there is no other way forward,” he said.

Mr Ryan, who jointly announced details of the new plans with Transport Minister Noel Dempsey said the Government expected considerable international investment to result from the new plan which would also help Ireland reduce its annual €6bn bill for fossil fuels.

But Fine Gael’s energy spokesperson Simon Coveney criticised the Government’s plans, claiming the 10% target for electric cars by 2020 was unambitious and inadequate.

“It is both feasible and realistic to aspire to achieve the complete replacement of petrol and diesel engine driven cars with electric vehicles within 15 years,” said Mr Coveney.

He pointed out that other countries had already set such targets.

Also interesting, also from Gas2.org, “In a conference on the future of electric transportation, the German government has detailed a major plan to put one million electric and plug-in hybrid cars on the country’s roads within the next 11 years.”

Gas Prices Near Bottom

November 23rd, 2008 2 comments

As we head into the holiday season it is welcome news to see gas prices falling.  Lower gas prices should help lower the burden on US families and make better for the retail and mall industry.  According to a CNN article the lower gas prices may be nearing its end.

Gas prices slip below $2 nationally

  • Average price in U.S. is below $2 for first time since March 2005, survey says
  • All-time high average — $4.11 — was set four months ago
  • Average price dropped 33 cents in the past two weeks
  • Survey: Diesel prices are under $3 for the first time since September 2007

(CNN) — Gas prices dropped nearly 33 cents in the past two weeks, dipping below $2 for the first time since March 2005, a national survey said Sunday.
This station in Rio Vista, California, had gas prices below $2 on November 19.This station in Rio Vista, California, had gas prices below $2 on November 19. [pic to left]
The average price of self-serve, unleaded gasoline on Friday in the United States was $1.97, said Trilby Lundberg, publisher of the Lundberg Survey. The last time the price was below $2 was on March 4, 2005, she said.

The all-time high average was $4.11, set on July 11, according to Lundberg, and prices have been dropping ever since.

“The rate of decline has slowed somewhat, but it is still dramatic at 33 cents in two weeks,” she said.

Diesel prices averaged $2.93 on Friday, slumping under $3 for the first time since September 2007, she said.

Lundberg attributed the price reductions to a drop in crude oil prices and demand, and also because of low refining margins.

“Crude oil remains [the] main driver,” for the decline, she said, noting that crude oil futures settled on Friday below $50.

Demand is always low in November, she said, but the weakening economy is reducing it further.

However, Lundberg said that if crude oil prices do not fall further, “then the end of this [gasoline] price crash is either here or near.”

The Lundberg Survey is based on responses from more than 5,000 service stations nationwide.

On Friday, drivers in St. Louis, Missouri, paid the least at the pump — $1.61 — while drivers in Honolulu, Hawaii, and Anchorage, Alaska, paid the most, at $2.81.

Here are average prices in other cities:

  • Detroit, Michigan — $1.76
  • Houston, Texas — $1.78
  • Atlanta, Georgia — $1.88
  • Boston, Massachusetts — $2.01
  • Chicago, Illinois — $2.10
  • Washington — $2.19
  • Los Angeles, California — $2.22