Gas Prices going UP - California - how about $4+ per gallon?

in oil •  3 months ago

There are a number of reason gasoline prices will likely be going up in the months ahead.

SRS Rocco Report has been reporting, for a long time now, about EROEI (Energy Return on Energy Invested) ... the energy cost equivalence to extract oil by the different methods... traditional or conventional drilling vs. fracking and digging up half of Canada to extract "tar sands" or "oil sands." SRS Rocco has also been reporting there is BIG TROUBLE in the oil market, as in a recent report titled "CRACKS NOW APPEARING IN THE WORLD’S MAJOR OIL INDUSTRY," which you can read about at...
https://srsroccoreport.com/cracks-now-appearing-in-the-worlds-major-oil-industry/

The LA Times website published an article, shortly before the strike on Syria, titled "Gas prices at highest level since 2015 amid fears of another oil shock," which you can read here:
http://www.latimes.com/business/la-fi-oil-gas-prices-20180413-story.html

Among other interesting facts and statements, the article says...

"In the Los Angeles-Long Beach metro area, the average price of regular as of Wednesday was $3.579 compared with $3.034 a year earlier, the Automobile Club of Southern California reported. That compares with a national average price of $2.694 a gallon."

War in Syria is not helping matters, and China wanting to use the Yuan (while ditching the US Dollar) for purchasing oil is also a big TROUBLING INDICATOR of things to come! By the way, if you didn't know, in the past year or so, China has now surpassed the United States in OIL IMPORTS. Seems logical, considering the population of the US at around 325 Million, vs. China with well over 1 BILLION people.

Another "by the way," ... Fracking is not a very good long-term solution to the oil problems for the United States. It's a lot more costly than conventional drilling and fracked wells deplete much faster than conventional drilling. Energy independence is not in the cards for the US, sorry to say.

Perhaps the military action going on in Syria has something to do with oil. With Russia's and China's interest in Syria and the Middle East, you've got to wonder, are the superpower countries battling for the world's remaining oil and other earth minerals?

With a shaky global economy, and central banks and governments printing money out of thin air, and inflated stock markets, and unsustainable and over extended DEBT, some major disruptive events are becoming more likely every single day.

Some experts are predicting the oil price will crash, along with the economy. However, there's a good chance that oil and gasoline prices will go up, unless or until there's a crash.

One thing is certain. The future is uncertain.

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