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Your sense of humour ALONE is worth watching. Besides the valuable facts. Greetings from a german dude working in hungary currently.
George! Come. On.
Excellent video. I’m not that bright, so it was very educational for me. BTW, I’m paying $6+ per gallon here in so. Cal.
$6 in CA is cheap
Get CA to reopen the refineries. Pump CA oil to feed the refineries. As long as you buy gasoline from the Philippines gas prices will be high in CA & AZ.
In Australia we are paying $6.95 US, the cost of our food is off the scale and housing and rents totally ridiculous.
Crack spread refers to oil distillation processes.
George loves doom loops but they all fall apart just before what he predicted happens
Idk about this time
I have family in oil buissness for multiple generations
And they became preppers about 2 months ago
Also warned extended family
To b ready 4 chaotic winter
Wait until Netanyahu uses a tactical Nuke??????
Let’s hope that’s true here as well.
You better hope so, but Trump is incredibly stupid so anything can happen.
yes always, since 2020 same formula
The information age. The good news just keeps coming. The one thing for sure, nothing last forever.
Don’t forget that several large refineries closed in California
And all the rest have skipped multiple maintenance shutdowns
@deepnurmom1737Not true. I work in the industry. I know of 3 refineries in shutdown/turnarounds right now.
@seg316 Utilization is at 97.2-98%, which is highest since 2018. They are definitely deliberately deferring maintenance to take advantage of crack spreads.
@SirWhiskers9 Lucky for us, refinery accidents and hurricanes are rare. Oops, OK never mind.
The price we’re paying at the pump now is most likely kept artificially low because they are cutting our gasoline with higher than normal amounts of ethanol.
😂
Bingo
I freaking love fear porn
They’re also draining the SPR
The price of ethanol is very muted
Now it makes sense why US refineries are running at 98% capacity, filling in for the lack of supply coming from Gulf refined products, but that won’t last as all refineries will require maintenance at some time, and when that happens, the gas and diesel prices will rise further.
Running things at 100% without maintenance means something will break and then cause the the problem they are trying to avoid.
And California refineries shutting down due to stupidity in Sacramento.
That middle finger in the charts is so true 😂😂
Lol , good eyes
Diesel has gone up 60 cents a gallon in a week.
Over a dollar a gallon since July
If gas approaches $10 the streets of America will look like 1943 during the war years where nobody drove anyway. We will all be asking “Is this trip really necessary?”
Most people spend way more on vehicle, insurance, and maintenance. Even at $10 it’s a small part of the cost of driving.
Lease and insurance on a Corolla $4,800 a year
10000 miles at $10 gas 33 mpg 300 gallons $3000.
That’s what they said about $5 gas prices
I’ll gladly pay $20/gallon if nobody else is on the street 🤷🏻♂️
People will still drive, we do here in Europe and we pay $8+
Don’t forget that Freight Trains use diesel fuel too, and trains move way more products than diesel trucks do.
But they move it far for efficiently. Locomotives are electric.
@joblo1978 they have electric transmissions run by massive diesel engines – the efficiency comes from spreading the cost of that diesel across thousands of tons of product per trainload. But despite that efficiency, you still need diesel trucks to distribute from rail terminals.
And river barges on the Mississippi and Ohio move more than trains.
The crack spread is not going to let up anytime soon. Refineries are already running at full and expected to run at full for a long time. For me that means if we have any refineries go offline, for any reason, the fuel prices will jump. Oil prices can go down but without additional refinery output it won’t help. Demand destruction will be the only cure for this.
Far too many Americans are like frogs in slowly heating water, they only realize the wheels fell off when panic begins. The SPR is below safety thresholds for storage damage (salt caverns) and not being able to respond to real emergencies, not created ones. Its still being emptied every day. China is getting ready to step back in and buy oil, which it slowed to lessen the global impact, BUT they have to maintain their emergency stocks, the minute they start buying oil, the wheels will come off. Demand goes up and prices will go with them. But believe what you want, if things go to hell and your not prepared, your gonna have a hell of an awakening.
They likely do it 2mths before mid-term. Maximum impact.
Very correct. Best regards from Europe
“Crack Spread”? Can I call my lawyer first?
Pretty much there already in The UK
I am in Spain and our diesel is €1.80 a litre. That is $7.91 for a US gallon.
Before trump was triggered by Israel to bomb Iran it was $6.15 a US gallon.
However for our diesel and petrol the government makes tax. With that tax we get free universal healthcare, safe food, functional government, social services, clean streets, beautiful roads, super education.
You have to wonder how America got it so wrong
The Pigs don’t give a Damn!!! GREED GREED from the 1% !
Natural Gas will go parabolic 📈