Reply to Gas below $3.00 per Gallon

Forum Index » Political Discussion

Reply to "Gas below $3.00 per Gallon"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Per Gas Buddy the average price nationwide is $2.98 per gallon.  Thank you President Trump for your leadership and helping all americans, even those who hate you[/quote]

Trump had nothing to do with it. You need to thank the Chinese for EVs, wind power, solar power, battery production, etc. The Chinese have change the oil and gas demand growth curve. Not just in their country but throughout the world. OPEC was counting on the developing countries to follow the model we used with oil and gas. It’s not happening. They are going electric across the board because of the efficiency and cost. Even high production countries like Norway, Saudi, etc are electrifying. China is exporting more green energy systems each month vs what the US exports of LNG each year.

It is just so much more efficient. About 2/3 of the energy in a barrel of oil or natural gas is lost when used. While electrical use is 90% efficient.

It looks like we have reached peak oil demand and are now on a plateau. The next part is the downward curve. People are saying this is the same curve we saw with the switch from horses to ICE. What we are seeing is a transport and energy technological revolution. China exported 1 million cars in 4 years ago. This year they are set to export 7 million. This is on top of selling 32 million new cars each year in China. The US new car market is 16 million. 70% of oil consumption is cars. Every EV on the road reduces demand for oil.

Oh and the US is the highest cost producer of oil and natural gas. When the Saudis and other low cost producers recognize what is happening they will pump as much as they to realize a depreciating asset before it reaches zero. This will drive the high cost producers out of the market because their cause per barrel is $5-$10. The US fracking cause is $75 -$100 per barrel.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics