OT: Looks like gas is going to skyrocket this summer

[appalachiatiger]

I dont understand why its our responsibility to always stick,our noses in other peoples business

All that does is:

1. add to our deficit

2. apikes price inflation especially in gasoline

i for one am not interested in paying an extra 75 cents a gallon to play around in other countries affairs


By David S. Cloud

4:59 pm, April 22, 2014

WASHINGTON ? The Pentagon said Tuesday that it was sending 600 soldiers to Eastern Europe for military exercises in response to "aggression" by Russia in Ukraine, the first U.S. ground forces dispatched to the region in the 2-month-old crisis.

The 173rd Infantry Brigade, a U.S. Army airborne unit based in Vicenza, Italy, will deploy 150-soldier companies to Poland, Latvia, Lithuania and Estonia over the next month and will rotate more U.S. forces to those and possibly other countries at least through the end of the year, Rear Adm. John Kirby, the Pentagon press secretary, told reporters.

The four countries, all of which were under Moscow's control during the Cold War and later joined NATO, have been among the most vocal in asking the U.S. and other alliance members to send forces to their territory in response to Russia's military buildup along the Ukrainian border.

"What we're after here is persistent presence, a persistent rotational presence," Kirby said. "If there's a message to Moscow … it's that we take our obligations" to defend NATO members "very, very seriously."

Latvia's government said in a statement issued by its embassy in Washington that it welcomed the decision to send troops, calling it a "fast and practical response."

The first U.S. troops will start infantry training exercises Wednesday in Poland. The others are expected to arrive by Monday for similar land-based exercises in the Baltic countries, Kirby said.

"How far this will go? I can't give you a specific, you know, deadline or timeline on it," he said. "But we're looking at trying to keep this rotational presence persistent throughout the rest of this year."

Meanwhile, the Navy said Tuesday that it would send the frigate Taylor to the Black Sea when the guided missile destroyer Donald Cook departs. A Russian fighter jet taunted the Donald Cook on April 12 with a dozen low-altitude passes that Pentagon officials denounced as "provocative."

The Donald Cook is now in port at Constanta, Romania, the Navy said. It was not immediately clear when it would leave the region.

In addition, the White House announced an aid package for Ukraine that includes $11.4 million in assistance for upcoming elections, economic aid and $8 million in nonlethal military supplies. The military assistance includes bomb-detection equipment, hand-held radios, and vehicles for Ukraine's military and border guards.

Russia's movement of troops into Ukraine's Crimea region and its buildup of about 40,000 troops elsewhere along Ukraine's border has raised fears of a civil war in Ukraine and of a large-scale Russian intervention.

But the 28-member NATO alliance has been divided over how to respond, with some major members such as Germany and Britain opposing moves to put troops on the ground. Kirby said the decision to send troops was a bilateral move by the U.S. and the nations concerned.

Since the start of the Ukraine crisis, the Pentagon has sent 12 F-16 fighter jets and aviation support teams to Poland.

The only moves NATO has made as an alliance is to fly surveillance planes over alliance territory to monitor Ukraine.

"It is essential that NATO continues following developments" and "responds appropriately, if necessary," Latvia's government said in its statement.

 

[tigerincharlotte]

If we continue to inflate money, gas will continue to rise in price. This is more the reason for high prices than anything else.

 

[chassc]

This is great news! I've been looking for ways to add to my expenses!

 

[Howard's Jock]

Doesn't this happen every summer?
Posted from Rivals Mobile

 

[ccoff864]

Come on appalachia you're better than this. If you want to complain about gas prices then do so, if you want to complain about obama do it, and if you want to complain about sending troops to the region then hit on that, but there are other factors than the one you pointed out for the rise in gas prices. More so of supply and demand in the summer than anything else.

 

[LUV DEM TIGERS]

I guess he same reason we stuck our nose in Europe in World War 1 and 2. Remember, it was the Japanese that attacked us, not Hitler.

 

[utgolfer]

Originally posted by ccoff864:
Come on appalachia you're better than this. If you want to complain about gas prices then do so, if you want to complain about obama do it, and if you want to complain about sending troops to the region then hit on that, but there are other factors than the one you pointed out for the rise in gas prices. More so of supply and demand in the summer than anything else.

+1. Factors affecting gasoline prices before Ukraine: Federal Reserve, supply and demand, seasonal factors....and that is just for starters.

 

[Willence]

Dear Lord... Here's why!

The Budapest Memorandum on Security Assurances is a political agreement signed in Budapest, Hungary on 5 December 1994, providing security assurances by its signatories relating to Ukraine's accession to the Treaty on the Non-Proliferation of Nuclear Weapons. The Memorandum was originally signed by three nuclear powers, the Russian Federation, the United States of America, and the United Kingdom. China and France gave somewhat weaker individual assurances in separate documents.

The memorandum included security assurances against threats or use of force against the territorial integrity or political independence of Ukraine as well as those of Belarus and Kazakhstan. As a result Ukraine gave up the world's third largest nuclear weapons stockpile between 1994 and 1996.

According to the memorandum, Russia, the U.S., and the UK confirmed, in recognition of Ukraine becoming party to the Treaty on the Non-Proliferation of Nuclear Weapons and in effect abandoning its nuclear arsenal to Russia, that they would:

1. Respect Ukrainian independence and sovereignty within its existing borders.

2. Refrain from the threat or use of force against Ukraine.

3. Refrain from using economic pressure on Ukraine in order to influence its politics.

4. Seek United Nations Security Council action if nuclear weapons are used against Ukraine.

5. Refrain from the use of nuclear arms against Ukraine.

6. Consult with one another if questions arise regarding these commitments.

We signed this agreement and in exchange, they gave up their ability to protect themselves. If we do nothing and just let them be overrun, we say to the world, keep your nukes cause that's all the protection you have from nations regardless of what treaties or agreements there are. And secondly, if you don't have nukes, you better get them cause we don't give a damn about anyone but ourselves. Pretty stupid message to send...

 

[Earle36]

We hear the doom and gloom before every summer.
It does suck that Obama fights our own energy independence at every turn.
Even a ton of Senate Dem's are furious about him delaying Keystone for over 5 years with no end in sight.
Now that's extreme. Perhaps that's why his approval numbers are the lowest in history for any President at this point in their second term. As far as exact time line of days.
At least Barry has a huge fan in Putin! Did Obama mock Romney for saying Russia was still a geopolitical threat. I guess President Barry's not laughing now.

 

[firegiver]

This is all according to plan for the energy companies. Just means higher profits for everyone.

You know everyone in this country would line up and agree to allowing the keystone pipeline if that meant fracking was outlawed and maybe , oh i don't know enforce the clean water laws on companies like Duke Power who are polluting our drinking water. A brita filter won't fix it.

 

[Da Swami]

Originally posted by Earle36:
We hear the doom and gloom before every summer.
It does suck that Obama fights our own energy independence at every turn.
Even a ton of Senate Dem's are furious about him delaying Keystone for over 5 years with no end in sight.
Now that's extreme. Perhaps that's why his approval numbers are the lowest in history for any President at this point in their second term. As far as exact time line of days.
At least Barry has a huge fan in Putin! Did Obama mock Romney for saying Russia was still a geopolitical threat. I guess President Barry's not laughing now.

*sigh* good lord come on man DO NOT be a sheep and fall for false information. The keystone XL is an EXPORT pipeline that will do NOTHING for America it will not create nor help with energy independence, NOT one drop of diesal and any product created from the tar sand will be in any American vehicle and it is all tax free. Studies have shown that the Keystone pipeline will increase gas prices especially for farmers. Them Senators that are crying about the Keystone XL pipeline have a financial investment into seeing the job completed so their pockets will grow fatter. So next time turn off FOX comedy channel and research the information yourself.

Since 2006 I believe our dependency for middle eastern oil has been on the decline every year with or without the pipeline.

 

[ccoff864]

Originally posted by firegiver:
This is all according to plan for the energy companies. Just means higher profits for everyone.

You know everyone in this country would line up and agree to allowing the keystone pipeline if that meant fracking was outlawed and maybe , oh i don't know enforce the clean water laws on companies like Duke Power who are polluting our drinking water. A brita filter won't fix it.

Are you off your meds? Yeah the hike in the summer is due to supply and a greater demand, but you may want to take a look at how much one gallon of petro is taxed. That and the fact the the big oil companies can't drill for and produce the oil that they know is right here domestically. Drill here and cut some of the taxes and you'd see a gal. of gas @ a buck and a half.

 

[ccoff864]

Originally posted by Da Swami:

*sigh* .

Since 2006 I believe our dependency for middle eastern oil has been on the decline every year with or without the pipeline.

*sigh* is right. Since 2006 or percentage of middle eastern oil usage has gone down, but not our dependence. India and China have drastically increased their usage thus reducing our percentage of the "pie". May want to do some actual research there and not just go by what CNN tells ya.

 

[blythewood tigers]

tigerincharlotte said, "If we continue to inflate money, gas will continue to rise in price. This is more the reason for high prices than anything else."


Finally..... someone who gets it!!

Just imagine if US citizens were required to pay for the "full' price of gas and not the watered-down subsidized version we have become accustomed to, you talk about bitching!! I laugh when I see comments saying its "summertime", hilarious!

 

[Da Swami]

Originally posted by ccoff864:

Originally posted by Da Swami:

*sigh* .

Since 2006 I believe our dependency for middle eastern oil has been on the decline every year with or without the pipeline.

*sigh* is right. Since 2006 or percentage of middle eastern oil usage has gone down, but not our dependence. India and China have drastically increased their usage thus reducing our percentage of the "pie". May want to do some actual research there and not just go by what CNN tells ya.

As a child I learn reading is fundemental so you might want to take that lesson to heart. I am glad I can teach ccoff. The United States use TWICE as much oil consumption than China and every other country by a wide margin. Any other country use of oil has not lead to our decline but fuel efficient vehciles, fuel standards, the economy and the #1 reason is natural gas. That my friend is from doing research and having an understand of the subject. For the record, I watch the congressional hearings on the Keystone XL pipeline (I was at home sick and bored so that is my excuse) and follow up after the hearing by looking a little further into the subject.

 

[ccoff864]

Originally posted by Da Swami:

Originally posted by ccoff864:
*sigh* is right. Since 2006 or percentage of middle eastern oil usage has gone down, but not our dependence. India and China have drastically increased their usage thus reducing our percentage of the "pie". May want to do some actual research there and not just go by what CNN tells ya.

As a child I learn reading is fundemental so you might want to take that lesson to heart. I am glad I can teach ccoff. The United States use TWICE as much oil consumption than China and every other country by a wide margin. Any other country use of oil has not lead to our decline but fuel efficient vehciles, fuel standards, the economy and the #1 reason is natural gas. That my friend is from doing research and having an understand of the subject. For the record, I watch the congressional hearings on the Keystone XL pipeline (I was at home sick and bored so that is my excuse) and follow up after the hearing by looking a little further into the subject.

Reading comprehension not so good? We may use "TWICE" as much, but China and India have increased their usage by A LOT. If the middle east produces 100 bbls per day and we use 60, China uses 20, and India uses 20 that is 100%. Got it? Now 8 years later the middle east produces 150 bbls per day and we use 60, China 45, and India 45. Our dependence hasn't gone down, our percentage of the total has gone down. Got it now? Thanks for playing.

 

[Willence]

Originally posted by Da Swami:

Originally posted by Earle36:
We hear the doom and gloom before every summer.
It does suck that Obama fights our own energy independence at every turn.
Even a ton of Senate Dem's are furious about him delaying Keystone for over 5 years with no end in sight.
Now that's extreme. Perhaps that's why his approval numbers are the lowest in history for any President at this point in their second term. As far as exact time line of days.
At least Barry has a huge fan in Putin! Did Obama mock Romney for saying Russia was still a geopolitical threat. I guess President Barry's not laughing now.

*sigh* good lord come on man DO NOT be a sheep and fall for false information. The keystone XL is an EXPORT pipeline that will do NOTHING for America it will not create nor help with energy independence, NOT one drop of diesal and any product created from the tar sand will be in any American vehicle and it is all tax free. Studies have shown that the Keystone pipeline will increase gas prices especially for farmers. Them Senators that are crying about the Keystone XL pipeline have a financial investment into seeing the job completed so their pockets will grow fatter. So next time turn off FOX comedy channel and research the information yourself.

Since 2006 I believe our dependency for middle eastern oil has been on the decline every year with or without the pipeline.

Maybe you should follow your own advice. Unless you are only reading the environmentalist websites that say these things. Saying it is an export pipeline is the height of being willfully blind. A pipeline is designed to move product from one place to another. By its nature, it is exporting oil... A great portion of Canada's oil industry is either invested in or owned by US companies. Our refining capacity dwarfs that of Canada as we have 5 of the ten largest oil refineries in the world. The oil would be refined in the US and then distributed to numerous countries including the United States. To say not one drop is a flat out lie and you should be ashamed. I get tired of people attacking Fox "lies" with their own lies. Perhaps you should spend time reading as well sir.

Yes, our importing of oil has declined every year and it is believed this decline will continue whether we build Keystone or not. We are producing a lot more energy in the US (on private lands mostly) and we are generally considered to have the most energy rich land on the earth. The studies you reference are largely done by the same people who cook the books on global warming and try to stifle any discussion through Gestapo style tactics.

Certainly the right is excluding a lot of facts about the Keystone XL and what it will do. That being said, the majority of the misinformation comes from people who believe as you do and you're just spouting it off here as gospel backed by "studies." LOL The Canadians are going to do this whether we approve the Keystone or not. Yes, their method is about 15% dirtier than other methods and that is a concern. But, if they are going to do it one way or another, perhaps we should support our neighbors and profit from it as well.

This whole issue, like so many these days, is hijacked and polluted with BS, lies and deception. Stop being part of the problem and acting like an authority which you are absolutely not!

 

[utgolfer]

Originally posted by Da Swami:

As a child I learn reading is fundemental so you might want to take that lesson to heart. I am glad I can teach ccoff. The United States use TWICE as much oil consumption than China and every other country by a wide margin. Any other country use of oil has not lead to our decline but fuel efficient vehciles, fuel standards, the economy and the #1 reason is natural gas. That my friend is from doing research and having an understand of the subject. For the record, I watch the congressional hearings on the Keystone XL pipeline (I was at home sick and bored so that is my excuse) and follow up after the hearing by looking a little further into the subject.

No...the number one reason for US reduced crude imports is not natural gas, natural gas and crude oil are used for different purposes (natgas for electricity generation and chemical manufacturing-crude for transportation fuels). This couldn't be more incorrect.

The number one reason for declining coal use in electricity generation is natural gas. The number one reason for decreases in our oil imports is domestic production of crude oil increasing due to fracking. We still import almost 8 million barrels per day, roughly 50% of our oil needs. But our domestic production has increased by over 2 million barrels per day since the 2000's. This link shows the absolute volumes of imports and domestic production.

And yes there are small cross blending of the uses of the two categories, there are some vehicles that run on natgas, and there are some portions of the currently that use heating oil in the winter, but those volumes aren't enough to drive the dynamics.

crude volume data here

 

[Da Swami]

Originally posted by ccoff864:

Originally posted by Da Swami:

Originally posted by ccoff864:
*sigh* is right. Since 2006 or percentage of middle eastern oil usage has gone down, but not our dependence. India and China have drastically increased their usage thus reducing our percentage of the "pie". May want to do some actual research there and not just go by what CNN tells ya.

As a child I learn reading is fundemental so you might want to take that lesson to heart. I am glad I can teach ccoff. The United States use TWICE as much oil consumption than China and every other country by a wide margin. Any other country use of oil has not lead to our decline but fuel efficient vehciles, fuel standards, the economy and the #1 reason is natural gas. That my friend is from doing research and having an understand of the subject. For the record, I watch the congressional hearings on the Keystone XL pipeline (I was at home sick and bored so that is my excuse) and follow up after the hearing by looking a little further into the subject.

Reading comprehension not so good? We may use "TWICE" as much, but China and India have increased their usage by A LOT. If the middle east produces 100 bbls per day and we use 60, China uses 20, and India uses 20 that is 100%. Got it? Now 8 years later the middle east produces 150 bbls per day and we use 60, China 45, and India 45. Our dependence hasn't gone down, our percentage of the total has gone down. Got it now? Thanks for playing.

Hmmm I have to grade this a F on facts alone ccoff. First and foremost there is no oil shortage so your fuzzy math is irrevelant my friend. Second as I have stated factually, natural gas is the #1 reason by large and a far for our decline of middle eastern oil. Now you can throw out 100 different equations, scenerios and reason but if you choose to ignore facts then your opinion is mute.

 

[ccoff864]

Originally posted by Da Swami: Hmmm I have to grade this a F on facts alone ccoff. First and foremost there is no oil shortage so your fuzzy math is irrevelant my friend. Second as I have stated factually, natural gas is the #1 reason by large and a far for our decline of middle eastern oil. Now you can throw out 100 different equations, scenerios and reason but if you choose to ignore facts then your opinion is mute.

Still not reading to well? Where did I ever say there was a shortage? There is an abundance of oil out there, just got to produce it. Natural gas doesn't meet our needs for crude in any way shape or form. Two different animals. That'd be like saying coal could be thrown in your gas tank and you could drive to the store.

And since you say I ignore facts, show me some. You've yet to produce a single FACT, just that you watched a little TV while home from work sick. Come on bro!

We still depend on over half our usage of OIL from the middle east. That is "DEPENDENCE" on foreign oil. Until we use more from domestic sources than foreign we ARE dependent. I need not give you any more learnin', it is of no use. I tried to teach you that we still used middle eastern oil, but I'm not sure you understand general math.

 

[Willence]

Actually we only import about 20% of our oil from the Middle East.

 

[SpartanTiger120]

People often forget that commodities trading is another cause of increases and decreases in the price of oil

 

[utgolfer]

Originally posted by Willence:
Actually we only import about 20% of our oil from the Middle East.

An import is an import. We import more from Canada than we used to since they now have the tar sands, and less from the Middle East. That just means more Middle East oil goes to China and India when it used to come here. But at the end of the day, we import a lot of oil, roughly half of what we use every day.

We've always imported a huge amount from closer than the Middle East, Mexico and Venezuela mainly. I don't know why people get hung up on where it comes from, since a barrel is a barrel and its going to go somewhere.

And thats not a shot at you Willence, I guess its just more for the crowd that thinks a) we are totally dependent on the Middle East (we are not-at least directly), and b) those who think that since we don't get most of our imports from the Middle East, that it still isnt the most critically important region in the world for crude oil since they are assumed to have the most spare capacity. If Middle East production dropped 15%, you would see a fleet of tankers leaving the Gulf Of Mexico and Venezuela headed to China, while our prices shot up dramatically.

 

[firegiver]

Originally posted by ccoff864:

Originally posted by firegiver:
This is all according to plan for the energy companies. Just means higher profits for everyone.

You know everyone in this country would line up and agree to allowing the keystone pipeline if that meant fracking was outlawed and maybe , oh i don't know enforce the clean water laws on companies like Duke Power who are polluting our drinking water. A brita filter won't fix it.

Are you off your meds? Yeah the hike in the summer is due to supply and a greater demand, but you may want to take a look at how much one gallon of petro is taxed. That and the fact the the big oil companies can't drill for and produce the oil that they know is right here domestically. Drill here and cut some of the taxes and you'd see a gal. of gas @ a buck and a half.

wat? Drill here is fine. Don't frack is all im saying. It literally poisons our drinking water. Which last I checked is more valuable commodity than oil.

You're all over the place so I can't really tell your point. I was just trying to say that Oil companies are happy to do less work while raising the price of their product. So this is all according to plan. If we want to increase the amount of supply then I suggest the reasonable thing would be to open the Keystone Pipeline, but that I would advocate for outlawing fracking as part of the deal. Comprendo? Its called a compromise and in my mind we all win (except for fracking companies).

 

[ccoff864]

Originally posted by Willence:
Actually we only import about 20% of our oil from the Middle East.

From OPEC plus the Persian gulf our imports, on average since 2006 are about 36-37%. Where as non middle eastern/OPEC countries are at around 19-21% for the same time frame. These include countries such as Argentina and Brazil. From Aug. of 2013 until now we are running at about 26-27% from the Middle East. Still over 50% of our consumption is from foreign sources.

 

[Da Swami]

Originally posted by ccoff864:

Originally posted by Da Swami: Hmmm I have to grade this a F on facts alone ccoff. First and foremost there is no oil shortage so your fuzzy math is irrevelant my friend. Second as I have stated factually, natural gas is the #1 reason by large and a far for our decline of middle eastern oil. Now you can throw out 100 different equations, scenerios and reason but if you choose to ignore facts then your opinion is mute.

Still not reading to well? Where did I ever say there was a shortage? There is an abundance of oil out there, just got to produce it. Natural gas doesn't meet our needs for crude in any way shape or form. Two different animals. That'd be like saying coal could be thrown in your gas tank and you could drive to the store.

And since you say I ignore facts, show me some. You've yet to produce a single FACT, just that you watched a little TV while home from work sick. Come on bro!

We still depend on over half our usage of OIL from the middle east. That is "DEPENDENCE" on foreign oil. Until we use more from domestic sources than foreign we ARE dependent. I need not give you any more learnin', it is of no use. I tried to teach you that we still used middle eastern oil, but I'm not sure you understand general math.

As another poster kindly pointed out you are all over the place. After you change the subject pertaining to the Keystone XL pipeline you pull out the "I do not know what the hell I am talking about" math to point wrongfully that India and China consumption of oil is leading to a decline of oil for America cause..... ???? As you just agreed with my statement there is no oil shortage then why is American suffering a decline in middle eastern oil if it is not shortage and middle east currently has the supply to meet demand? Do you see the cracks in your argument now. USA Today Nov. 11, 2013 Finance section spoked on the 3 reason for the decline as I stated. Econbroswer answer the question will oil production continue to decline - Yes as I stated again with fuel efficient vehicles and etc., Smartplanet.com is a site you can check out. You mention other products than oil. ONCE AGAIN read my 1st statement relating to keystone XL pipeline when I stated diesel and other "products". With that said I am not going your mind no matter how many facts I pound into your brain bro, I enjoyed the discussion and when you present some facts i look fwd to checking it out ccoff. BTW I read all material from the left, right and independants.

 

[ccoff864]

Originally posted by Da Swami:

As another poster kindly pointed out you are all over the place. After you change the subject pertaining to the Keystone XL pipeline you pull out the "I do not know what the hell I am talking about" math to point wrongfully that India and China consumption of oil is leading to a decline of oil for America cause..... ???? As you just agreed with my statement there is no oil shortage then why is American suffering a decline in middle eastern oil if it is not shortage and middle east currently has the supply to meet demand? Do you see the cracks in your argument now. USA Today Nov. 11, 2013 Finance section spoked on the 3 reason for the decline as I stated. Econbroswer answer the question will oil production continue to decline - Yes as I stated again with fuel efficient vehicles and etc., Smartplanet.com is a site you can check out. You mention other products than oil. ONCE AGAIN read my 1st statement relating to keystone XL pipeline when I stated diesel and other "products". With that said I am not going your mind no matter how many facts I pound into your brain bro, I enjoyed the discussion and when you present some facts i look fwd to checking it out ccoff. BTW I read all material from the left, right and independants.

1) When did I even bring up the pipe line?
2) Never did I say there was a shortage, or that because of China and India the middle east couldn't supply us. We are producing more, but we are STILL importing more than we make. Who thinks we are suffering?
3) If you'd like to see what we import, not from the tree hugger or right wing crazy sites, check the US Energy Information Administration.

I'm done, there's no point.

 

[ccoff864]

Originally posted by firegiver:

wat? Drill here is fine. Don't frack is all im saying. It literally poisons our drinking water. Which last I checked is more valuable commodity than oil.

You're all over the place so I can't really tell your point. I was just trying to say that Oil companies are happy to do less work while raising the price of their product. So this is all according to plan. If we want to increase the amount of supply then I suggest the reasonable thing would be to open the Keystone Pipeline, but that I would advocate for outlawing fracking as part of the deal. Comprendo? Its called a compromise and in my mind we all win (except for fracking companies).

Sorry, I totally thought you were saying the oil companies just raised the prices at will in your first post. That and to shut down drilling/fracking domestically.

 

[other1]

Originally posted by ccoff864:

Originally posted by firegiver:
This is all according to plan for the energy companies. Just means higher profits for everyone.

You know everyone in this country would line up and agree to allowing the keystone pipeline if that meant fracking was outlawed and maybe , oh i don't know enforce the clean water laws on companies like Duke Power who are polluting our drinking water. A brita filter won't fix it.

Are you off your meds? Yeah the hike in the summer is due to supply and a greater demand, but you may want to take a look at how much one gallon of petro is taxed. That and the fact the the big oil companies can't drill for and produce the oil that they know is right here domestically. Drill here and cut some of the taxes and you'd see a gal. of gas @ a buck and a half.

It's my understanding that most of the oil drilled for in Alaska is exported to Japan. And one of our most lucrative exports is refined gasoline. $1.50 a gallon under the best of circumstances is a pipe dream.

 

[Buzzards Roost]

This post assures that gas prices will drop over the summer.

 

[Tmassen1]

Don't worry, this thing is about to end. We are sending all of 600 HUNDRED soldiers to Poland to show Russia we mean business!! I am sure they will back down now......

 

[Earle36]

What's funny is that Barry brags about how much oil we are now pumping in the US.
Almost all of that is on private land that he can't touch. He has been cutting leases in public land like crazy meanwhile saying how much oil we are producing under him. The guy doesn't lie and deceive much eh?
At least don't be Putin's little punk!

 

[bchtiger328]

Gas prices always go up around Easter and normally continue to increase throughout the summer/tourist season......

 

[appalachiatiger]

If it was the intent of the West to bring Russia and China together - one a natural resource (if "somewhat" corrupt) superpower and the other a fixed capital / labor output (if "somewhat" capital misallocating and credit bubbleicious) powerhouse - in the process marginalizing the dollar and encouraging Ruble and Renminbi bilateral trade, then things are surely "going according to plan."

For now there have been no major developments as a result of the shift in the geopolitical axis that has seen global US influence, away from the Group of 7 (most insolvent nations) of course, decline precipitously in the aftermath of the bungled Syrian intervention attempt and the bloodless Russian annexation of Crimea, but that will soon change. Because while the west is focused on day to day developments in Ukraine, and how to halt Russian expansion through appeasement (hardly a winning tactic as events in the 1930s demonstrated), Russia is once again thinking 3 steps ahead... and quite a few steps east.

While Europe is furiously scrambling to find alternative sources of energy should Gazprom pull the plug on natgas exports to Germany and Europe (the imminent surge in Ukraine gas prices by 40% is probably the best indication of what the outcome would be), Russia is preparing the announcement of the "Holy Grail" energy deal with none other than China, a move which would send geopolitical shockwaves around the world and bind the two nations in a commodity-backed axis. One which, as some especially on these pages, have suggested would lay the groundwork for a new joint, commodity-backed reserve currency that bypasses the dollar, something which Russia implied moments ago when its finance minister Siluanov said that Russia may refrain from foreign borrowing this year. Translated: bypass western purchases of Russian debt, funded by Chinese purchases of US Treasurys, and go straight to the source.

Here is what will likely happen next, as explained by Reuters:

Igor Sechin gathered media in Tokyo the next day to warn Western governments that more sanctions over Moscow's seizure of the Black Sea peninsula from Ukraine would be counter-productive.

The underlying message from the head of Russia's biggest oil company, Rosneft, was clear: If Europe and the United States isolate Russia, Moscow will look East for new business, energy deals, military contracts and political alliances.

The Holy Grail for Moscow is a natural gas supply deal with China that is apparently now close after years of negotiations. If it can be signed when Putin visits China in May, he will be able to hold it up to show that global power has shifted eastwards and he does not need the West.
More details on the revelation of said "Holy Grail":

State-owned Russian gas firm Gazprom hopes to pump 38 billion cubic meters (bcm) of natural gas per year to China from 2018 via the first pipeline between the world's largest producer of conventional gas to the largest consumer.

"May is in our plans," a Gazprom spokesman said, when asked about the timing of an agreement. A company source said: "It would be logical to expect the deal during Putin's visit to China."
Summarizing what should be and is painfully obvious to all, but apparently to the White House, which keeps prodding at Russia, is the following:

"The worse Russia's relations are with the West, the closer Russia will want to be to China. If China supports you, no one can say you're isolated," said Vasily Kashin, a China expert at the Analysis of Strategies and Technologies (CAST) think thank.
Bingo. And now add bilateral trade denominated in either Rubles or Renminbi (or gold), add Iran, Iraq, India, and soon the Saudis (China's largest foreign source of crude, whose crown prince also happened to meet president Xi Jinping last week to expand trade further) and wave goodbye to the petrodollar.

As reported previoisly, China has already implicitly backed Putin without risking it relations with the West. "Last Saturday China abstained in a U.N. Security Council vote on a draft resolution declaring invalid the referendum in which Crimea went on to back union with Russia. Although China is nervous about referendums in restive regions of other countries which might serve as a precedent for Tibet and Taiwan, it has refused to criticize Moscow. The support of Beijing is vital for Putin. Not only is China a fellow permanent member of the U.N. Security Council with whom Russia thinks alike, it is also the world's second biggest economy and it opposes the spread of Western-style democracy."

This culminated yesterday, when as we reported last night, Putin thanked China for its "understanding over Ukraine." China hasn't exactly kept its feelings about closer relations with Russia under wraps either:

Chinese President Xi Jinping showed how much he values ties with Moscow, and Putin in particular, by making Russia his first foreign visit as China's leader last year and attending the opening of the Winter Olympics in Sochi last month.

Many Western leaders did not go to the Games after criticism of Russia's record on human rights. By contrast, when Putin and Xi discussed Ukraine by telephone on March 4, the Kremlin said their positions were "close".
The punchline: "A strong alliance would suit both countries as a counterbalance to the United States." An alliance that would merely be an extension of current trends in close bilateral relations, including not only infrastructure investment but also military supplies:

However, China overtook Germany as Russia's biggest buyer of crude oil this year thanks to Rosneft securing deals to boost eastward oil supplies via the East Siberia-Pacific Ocean pipeline and another crossing Kazakhstan.

If Russia is isolated by a new round of Western sanctions - those so far affect only a few officials' assets abroad and have not been aimed at companies - Russia and China could also step up cooperation in areas apart from energy. CAST's Kashin said the prospects of Russia delivering Sukhoi SU-35 fighter jets to China, which has been under discussion since 2010, would grow.

China is very interested in investing in infrastructure, energy and commodities in Russia, and a decline in business with the West could force Moscow to drop some of its reservations about Chinese investment in strategic industries. "With Western sanctions, the atmosphere could change quickly in favor of China," said Brian Zimbler Managing Partner of Morgan Lewis international law firm's Moscow office.

Russia-China trade turnover grew by 8.2 percent in 2013 to $8.1 billion but Russia was still only China's seventh largest export partner in 2013, and was not in the top 10 countries for imported goods. The EU is Russia's biggest trade partner, accounting for almost half of all its trade turnover.
And as if pushing Russia into the warm embrace of the world's most populous nation was not enough, there is also the second most populated country in the world, India.

Putin did take time, however, to thank one other country apart from China for its understanding over Ukraine and Crimea - saying India had shown "restraint and objectivity".

He also called Indian Prime Minister Manmohan Singh to discuss the crisis on Tuesday, suggesting there is room for Russia's ties with traditionally non-aligned India to flourish.

Although India has become the largest export market for U.S. arms, Russia remains a key defense supplier and relations are friendly, even if lacking a strong business and trade dimension, due to a strategic partnership dating to the Soviet era.

Putin's moves to assert Russian control over Crimea were seen very favorably in the Indian establishment, N. Ram, publisher of The Hindu newspaper, told Reuters. "Russia has legitimate interests," he added.

To summarize: while the biggest geopolitical tectonic shift since the cold war accelerates with the inevitable firming of the "Asian axis", the west monetizes its debt, revels in the paper wealth created from an all time high manipulated stock market while at the same time trying to explain why 6.5% unemployment is really indicative of a weak economy, blames the weather for every disappointing economic data point, and every single person is transfixed with finding a missing airplane.