2nd Gen Non-Engine/Transmission Fuel Prices

[DJW]

JGK, an excellent intelligent post, see you have been keeping up with World Financial matters and changing times. Regarding economics why would one make excess product which in the course would Depress a Product which is in Great Demand? (no need for an answer, I have a faint understanding of economics. ) India the sleeping giant, (many 800 calls go there, spoke with one today, American Income Tax checking returns also a Cottage Industry there) lately said they intend to be a World Power, thankfully they are the biggest Democracy in the World, also a Secular nation, so hopefully no Religious Waccos to impede progress. Stop supporting Communism, Boycott Chinese Products.

 

[RHebert]

$92 barrel sweet crude produces around 66 gal of diesel, or 58 gal of gasoline.

I must be missing something here. How can you get 66 gallons of diesel from a 42 gallon barrel of oil?

 

[JGK]

DJW, thanks for the compliments. Yes, I do try to keep up. My comments are based on what I read, not from being in the industry.



Just heard another comment this morning. Oil companies, such as Exxon, are drawing down inventories of stored crude. Reduced inventory causes prices to spike over fear of reduced availability. However, the draw down is due to the prices (sort of a self-fulfilling prophecy). They are selling inventory now at $90-plus per barrel that they stock piled when it was cheaper. So they are cashing in and meeting domestic demand. In this case, the oil companies can be blamed for the price spike to a certain degree. But if you were in their shoes, wouldn't you do the same!? Presumably, they feel they can re-stock inventory when the price drops. Since they are selling now, that would tend to indicate that's what they are thinking. Prices will get high enough soon that people will cut back. Demand will drop, prices will come down some, and they'll rebuild inventory at those prices. Maybe.



-Jay

 

[AABEN]

I bought some tuesday paid 3. 14. 9 southern IN.

 

[DJW]

In New Zealand a barrel contains 42 gallons, the same size barrel in Britain contains 50 gallons, that same barrel in the USA contains 55 gallons, all the barrels have the same cubic capacity, perhaps the 42 gallon is the base industry standards. Tons, Long Tons, Tonnes?, A UK hundred weight 1cwt. weighs 112 lbs, a US hundred weight 1 cwt. equals 100 lbs. US Ton =2. 000 lbs. a UK ton =2240 lbs. (and so it goes)

 

[RHebert]

There are 55 gallons in a drum and 42 gallons in a barrel. Originally there were 40 gallons to a barrel however, that was changed in the mid 19th century to give a little extra so consumers wouldn't feel "cheated".

A little over 23 gallons of gasoline can be refined from a barrel of oil. Other products (jet fuel, lubricants, etc. ) make up the rest.

 

[MMichaels]

Fuel prices...

All I know is that if diesel fuel gets much more expensive, I'm going to have to cut back on something vital...



Like beer. :{

 

[MMeier]

All I know is that if diesel fuel gets much more expensive, I'm going to have to cut back on something vital...



Like beer. :{

... ... . :{

 

[Ragain]

RHebert... ... Wow, was I misled! I got those figures on how many gallons of diesel made from a barrel of crude from a news program on TV. They said a barrel of oil was 88 gallon. I always wondered... .

 

[RHebert]

RHebert... ... Wow, was I misled! I got those figures on how many gallons of diesel made from a barrel of crude from a news program on TV. They said a barrel of oil was 88 gallon. I always wondered... .

Ragain, that's even harder to believe!!!! A news program would actually mislead someone and not tell the real story!!!!!



I guess that's why I like it so much at my camp in the woods, I only watch TV long enough to know what the weather is going to do tomorrow and then turn it off. You know the old saying - "No news is good news".