Unusually for a spring season, gasoline prices have been steadily climbing in the US since the beginning of 2011, and have surpassed $4/gallon in many US states, largely due to political instability in many oil-producing African and Middle-Eastern nations. "Not so fast," says the Department of Energy. Although the price of crude oil has climbed steadily throughout the year, the price of gasoline has climbed much faster -- a disparity known as the crack spread, which has remained at its highest level in 32 months, even in light of a sharp decline in the price of crude oil at the beginning of the month. The DoE speculates that although crude oil is cheap and plentiful enough, the 2011 Misssissippi River Floods are currently more to blame for $4 gas than the uprisings in the Middle East.
The Story of Dynamite (1925) and The Story of Gasoline (1924): two unusual silent films from the enormously varied and fascinating PublicResource.org's youtube channel. [more inside]
Fuelly tracks your gas mileage over time, helping you save fuel and expenses as you drive.
The Tata Nano (pic) is a car that costs less new than the amount I've spent on gas during single car trips, recently announced to the auto market in India. The Chery QQ ^, successful , widely exported, and recognized as the Hostage Taker's Vehicle of Choice by China Car Times, is the runner-up for the world's cheapest car but is still approximately twice as expensive. Yes indeed, the price of gas is not going to come back down. So much for my coast-to-coast road trips. [more inside]
As crude hit an all time high at $96.40US per barrel this week, prices increase at pumps across the US. Regular self-serve rose 9 cents to an average of $2.80 per gallon in 11 Texas cities this week, a price of €0.51 per litre. Even Arab nations are feeling the pinch; in Syria, subsidised fuel prices were increased by 20% to €0.74 per litre. This price is "still low compared to world prices", though. The Automobile Association has a handy reference chart for Europe: drivers in the UK are paying an average of €1.37, and Danes €1.40. Latvia, though, is a European bargain at just €1.00 per litre.
In the U.S., motorists do not pay their way. The US government spends more on highways and other auto-related expenses than it receives from auto-related taxes, unlike almost every country in Europe. In a recent report [pdf], Mark Delucchi calculates automobile-related costs and revenues in three different ways and concludes the subsidy is around 20-70 cents per gallon or $24-105 billion in 2002. But what are automobile-related costs, you ask? [more inside]
Heard enough about Pain at the Pump? The 24-hour news love to cover the "unreasonable" record gasoline prices, but the real issue is crude oil supply--and this latest installment of Stuart Staniford's highly detailed analysis of the world's largest oil field, Ghawar in Saudi Arabia, provides new evidence of sharply declining production. Can Saudi Arabia really increase supply to meet world demand that is surging on growth in India and China? Signs point to no--in the past week they have again voted to maintain OPEC's "voluntary" production cuts, and their petroleum minister commented that there may not be a "need" to increase Saudi production much further.
Iraq - All oil, no gas. A consortium of 34 Turkish companies have joined together to stop all exports of petrol / refined oil products to Iraq, because Iraq's government owes them over $1 billion that they have so far been unable to pay. Iraq's largest refinery was forced to shut down in December, after its truck drivers walked off the job due to insurgent threats. They reopened ten days later, only to shut down again after an insurgent swarm attack killed and wounded more drivers. The refinery has once more ceased activity, as their reserves of refined fuel are full and there is no way to get them to their customers. Iraq's diesel-driven power plants are undersupplied too, leading to worsening outages.
Resource wars and gas rations, what will be next ? I bet you didn't know we gobble oil like two-legged SUV's.
US energy bill is held up by a pro-MTBE provision that bipartisan Senators promised they would not sign into law. Nervous MTBE manufacturers, in an effort to divest themselves of potential asbestos-like liability lawsuits, have been donating millions in campaign contributions to the cause, despite peer-reviewed research pointing to lingering questions about safety (PDF) and utility (PDF).
Why $2 Gas Is Amazing Gasoline is now selling at more than $2 a gallon, which, after inflation, is higher than it's been since 1981. But that's not the amazing part. Actually, there are three amazing parts.
More Jet Fuel means higher prices for gassing your cars- The production of jet fuel has gone up. From what I've read when refining oil, you get a higher percentage of gasoline than jet fuel per barrel. Then why are the gasoline prices going up, as we are producing extra gasoline compared to jet fuel.
Some terms. What to do, bitch.
Some terms. What to do, bitch.
He gives a whole new meaning to the word "Conservation may be a sign of personal virtue, but it is not a sufficient basis for a sound, comprehensive energy policy." NY Times