Posted on 06/13/2022 9:51:13 AM PDT by JV3MRC
When Trump left office it was $2.29 around here.
The only reason gas was $1.38 during 2020 was due to demand destruction from covid lock downs the fundamentals of supply and demand were not in play then with an government imposed stand down of industry, commuting was at a standstill and work shifted to home or unemployment. This is before the USA lost over a million bbl per day of refinery capacity for finished products. Those MMBbl are not.coming back probably ever since those refineries were torn down as unprofitable during the enforced period of low demand. What we see now is a critical lack of supply in finished product production capacity which is a structural problem that is not going to be fixed anytime soon if ever. VC and Wall Street are not funding nor will they find a build out of refinery capacity that has capital outlays in the ten to hundreds of billons and a payback period of 20+ years. The automakers have decided that by the 2030to2035 timeframe they will.cease making ICE engines demand will plummet Wall Street knows this and so does VC. There are also a dozen states that will not allow the sale of ICE vehicles after 2030 same effect. The move to light duty EVs is happening by hook or crook. Tesla had a four million mile battery in testing and has a million mile battery nearing production it’s already in some Model 3s being endurance tested. Their gen2 packs have 300000+ thousand miles on them in heavy duty commercial service taxis and black car companies have been torturing them for ywars now it takes a few seconds with Google to read all about commercial high mileage Teslas. Gas will come down in the next few years as demand is lost to.EVs and fuel cell vehicles which Toyota and BMW are big into. Cummins is going hydrogen heavy duty engines with nuclear power as the hydrogen sources in countries not afraid of nuclear power. France is building out 14+ new huge plants, the UK 8 more with a grid smaller than Texas 8 reactors on the UK is a significant portion of their energy total. Texas has 4 nukes and that’s 18% of our energy the UK is 3/4 the size in gigawatts as ERCOT so 8 more plants is nearly 70% of their current grid capacity. That’s how they mean to charge their EVs in France and the UK. China is building out 120+ new nukes they are also.doing district heating, seawater desal and hydrogen from those nukes they are.going to.clobber the USA in energy abundance and.costs they don’t allow the greens to use lawfare to stop.nuclear projects They are eeven using a Westinghouse design the bought from us which we refuse to build ourselves. Adding insult to injury.
4.57 here in NE OK
It $1.79 on January 21, 2021 near me. I’d like to see that again.
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