How long before gas goes to 4-5 a gallon?

[iluvatar5150]

From Forbes:

Most people view energy independence through the lens of our oil and gas production and consumption. These two sources represent 68% of U.S. energy consumption. When they see our net exports are positive, it is viewed as “energy independence.” When they turn negative, we are once again partially dependent. (In reality, we are always partially dependent, because even when our exports exceed our imports, we are still importing oil from other countries).

It is true that in 2019 our net imports of crude oil and finished products flipped from positive to negative. By that metric, we became energy independent (at last as far as our oil consumption goes). It is also true that Donald Trump was president when this happened for the first time in October 2019.
​

If anybody's curious, here's the article to which @hislegacy linked:
Is The U.S. Energy Independent?

Choice passages include:

President Biden has passed policies that could negatively impact domestic oil supplies in the future. However, thus far the price surge is primarily a result of 3 million barrels per day (BPD) of oil production that was lost in the spring of 2020 that hasn’t fully recovered. Demand has fully recovered, so that is the fundamental reason for the surge in prices. Further, that surge began in the fall of 2020 — five months before President Trump left office.

Immediately following the passage that @hislegacy quoted in ost 479 is this:

It is also true that Donald Trump was president when this happened for the first time in October 2019.

But note that this was the culmination of a trend that started in 2006 when U.S. net imports topped 13 million BPD. Most of that march to energy independence happened under President Obama. All President Trump (and President Obama before him) had to do was avoid driving the bus into the ditch, and they would continue to benefit from the hydraulic fracking boom that enabled all of this.

and:

Note near the end of the chart above that we started oscillating back and forth between a net importer and a net exporter. The Covid-19 pandemic disrupted the trend. The energy independence that we gained in 2019, was lost in the second half of 2020 as energy production plunged, but energy demand recovered. In May 2020, we had flipped back to a net oil importer, and we have oscillated since.

and to finally answer the question:

The Energy Information Administration (EIA) tabulated U.S. energy consumption in 2019 and 2020, and determined that for both full years, counting all energy sources, we were energy independent. Even though U.S. energy production declined by 5% in 2020, energy consumption also declined by 3% as the pandemic impacted the economy. So, our energy independence was shrinking as the pandemic unfolded.

But we don’t actually know if, once the full year of 2021 has been accounted for, we lost our energy independence for the year. If it turns out that we did, the single largest factor in that will be that oil and natural gas production have yet to return back to pre-Covid-19 levels. But demand has recovered, and therein lies the reason.

The article completely undercuts everything he's been arguing.

 

[hislegacy]

Buckle up buttercup. It’s coming…..

 

[The Barbarian]

Buckle up buttercup. It’s coming…..

Well, let's take a look...
Washington (AFP) - US retail sales fell for the second straight month in January, pulled lower by falling gasoline prices, the Commerce Department said Thursday.

Retail and food services declined 0.8 percent from December, according to the seasonally adjusted data, double the drop expected by analysts.
US retail sales down in January on lower gas prices

Wait... the economy is picking up strongly, and gas prices are down?

Coming down, now, but it seems more attumed to OPEC and other oil producers, not anything our government is doing.

 

[hislegacy]

National average of 3.41 and climbing

 

[hislegacy]

Well, let's take a look...
Washington (AFP) - US retail sales fell for the second straight month in January, pulled lower by falling gasoline prices, the Commerce Department said Thursday.

Retail and food services declined 0.8 percent from December, according to the seasonally adjusted data, double the drop expected by analysts.
US retail sales down in January on lower gas prices

Wait... the economy is picking up strongly, and gas prices are down?

Coming down, now, but it seems more attumed to OPEC and other oil producers, not anything our government is doing.

pssst..... this is 2022

Your link is from 2015 - 7 years ago.

 

[d taylor]

Gas last week gas was $3.19, this week $3.39 a gallon for real gas (no ethanol junk).

 

[hislegacy]

Gas prices could reach $7 a gallon as Russia-Ukraine tensions escalate

Gas could hit $7 a gallon if Russia-Ukraine tensions escalateand demand ticks up even further as the weather gets warmer and more Americans hit the road, according to an energy markets analyst.

“My guess is that you are going to see $5 a gallon at any triple-digit [oil prices] … as soon as you get to $100,” he said. (Oil prices on Thursday were around $92.)

“And you might get to $6.50 or $7,” if oil prices were to eclipse $150 a barrel, Energy Word founder Dan Dicker told Yahoo! Finance Live.​

 

[hislegacy]

.20 a gallon higher in less than a month:

 

[Brihaha]

Buy a scooter!

 

[hislegacy]

BINGO! Congrats to the two who said over a year.

 

[hislegacy]

Buy a scooter!

Great idea! When we have the three grandchildren, will just put wheels on their car seats

 

[mama2one]

wouldn't have believed it since we were $3.30 recently

then it jumped to $3.60

today it hit $4.00

 

[mama2one]

Buy a scooter!

or a bicycle

my dad rode a bicycle to work for a while

 

[Brihaha]

Great idea! When we have the three grandchildren, will just put wheels on their car seats

Use reinforced casters hahaha! They'll love it.

 

[d taylor]

How long before gas goes to 4-5 a gallon?
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This question was asked in January 2021. Well it is now May 2022 and gas in my town is $4.30 a gallon.

 

[Ceallaigh]

About the cheapest gas I know of in my town was $4.99 a couple of days ago. In the big city it's around $5.35. I expect it to hit at least $5.99 by July if not sooner.

 

[Danthemailman]

Gas is $3.99 in my town. I live in the Midwest so it's around the cheapest in the US.

 

[JacksBratt]

About the cheapest gas I know of in my town was $4.99 a couple of days ago. In the big city it's around $5.35. I expect it to hit at least $5.99 by July if not sooner.

Taco bell has free gas.

 

[mama2one]

we did it .....hit $4.25

I let my driver's license expire so won't be using gas

 

[Sophrosyne]

I was one of the 2 that answered over a year...... guess I'm lucky it didn't go up as fast as everyone else seemed to think it would. Gas here was about $4 a gallon here plus or minus a nickle I think but we have a refinery near here so not having to truck it far makes it cheaper I guess.