Donald Trump Knows Less About Energy Than Sarah Palin Does. Let That Sink In

PostmodernProphet said:
actually Jarod.....in the energy market, domestic oil production IS down and unemployment is up......world supply has been high, yet around here, gas is almost 75 cents more a gallon than it was in January........
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US Q1 Oil Production Down 370,000 Barrels a Day

Crude oil production in the United States for the first three months of 2016 averaged 9.11 million barrels a day. That’s 370,000 barrels a day below the first-quarter 2015 average of 9.48 million barrels a day, but still a million barrels a day more than the first-quarter 2014 average. From a high of more than 13.7 million barrels a day in 2005, imports now average about 9.8 million barrels a day for the first quarter of 2016.

And now that crude oil exports are once again legal, the average export volume for the first three months of 2016 rose to 4.67 million barrels a day, about 220,000 barrels a day more than in the first quarter of 2015. Average net imports of about 5.13 million barrels a day in the first quarter are 180,000 barrels a day higher than the first-quarter 2015 average of 4.95 million barrels. The data were published on Tuesday in the U.S. Energy Information Administration’s (EIA) Monthly Energy Review for April.

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Net refining inputs for the first quarter of the year averaged 18.2 million barrels a day, up about 60,000 barrels a day from the average of 18.14 barrels a day in the first quarter of 2015. Total motor gasoline produced in the first quarter averaged 9.6 million barrels a day, up about 120,000 barrels a day from the first-quarter 2015 average. Average distillate (including diesel fuel) production dropped by about 160,000 barrels a day, from 4.82 million in the first quarter of 2015 to 4.66 million in the first quarter of this year.
 
"Kentucky, Indiana, Illinois, Ohio and Michigan saw their respective state averages increase from 5 to 10 cents per gallon in recent days, impacted by an unplanned outage at Detroit's Marathon refinery and a jump in Chicago wholesale which closed the week at the highest price level in the country," said Gregg Laskoski, senior petroleum analyst for GasBuddy.

"The first week of the summer driving season saw the national average price of gasoline rise by less than 4 cents per gallon," he added.

Both GasBuddy and the AAA, which calculates prices overnight using more than 100,000 credit card receipts from the day before, are projecting falling prices, at least in the near term.

Oil prices, which led to an early round of increases at the pumps, appear stuck at just under $50 a barrel, just high enough to get the attention of U.S. shale oil producers who had cut back new drilling for months.


http://www.cleveland.com/business/index.ssf/2016/06/high_great_lakes_gasoline_pric.html
 
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