Whatever.
In our neighborhood, where the price of the least expensive gasoline almost touched $1.99/gallon a few months ago, when oil was priced higher than it is now, gasoline is now in the $2.35/gallon range.
But I'm not complaining. Out in California, highest gas prices are found in Los Angeles and San Francisco (dynamic link):
It should be noted that is should be relatively easy to find gasoline at less than $3.50/gallon in most of California, and prices are falling.
****************************
Come Back To This Later
EPD: insider buying? Investopedia is reporting:
This past week, insiders at Enterprise Products Partners bought $100 million of the company's common units.
While that is a lot of money, it is important to note that the investment was made by EPCO, which is a privately held company that is largely owned by the family members of the company's founder. In fact, with that investment EPCO owns 35% of Enterprise's common units.
Still, given that EPCO already owns such a large percentage of the company, this investment does suggest that insiders are very bullish on Enterprise's future prospects.
One area where the company is focusing a lot of its growth capital is on increasing its export capacity. By the end of this year it expects to double its industry-leading propane export capacity and by the third quarter of next year it will complete the construction of an ethane export facility on the Gulf Coast.
These projects will help get these key natural gas liquids to world markets and help ease oversupply issues, and discounted prices, in the U.S. Furthermore, the company's focus on exports has put it in a prime position to export oil if the U.S. ends its 40-year ban on crude exports, which is something that's growing more likely by the day due to an oversupply, and a discounted price, of light oil in the U.S.Disclaimer: this is not an investment site. Do not make any investment, financial, or relationship decisions based on what you read here or what you think you may have read here.
Wonder if oil companies 'got spoiled' with $100 barrel prices that now they're gonna try and compensate their loss with high gas prices?
ReplyDeleteWonder if all these derailments are an 'American middle finger' to OPEC?
There are some articles on integrated oil companies doing better than non-integrated oil companies because of their refining operations. But there are a lot of refiners that are not explorers (Tesoro?, Valero? come to mind).
DeleteI was thinking about Exxon Mobil .. They work where I live and surrounding areas too.. I wish they would buy whitting and Hess... Since I obviously cant , LOL. (Wish I had a few billion laying around.. Don't we all?)
ReplyDeleteIt would make my job a lot easier!
Bruce I must say what you do is beyond great!
You know, I think I posted that as a rumor, would it make sense for Exxon to buy Hess? Yes, here it is: http://themilliondollarway.blogspot.com/2015/03/off-net-for-awhile.html.
ReplyDeleteAnd then the very next day, there was an article about Statoil looking at EOG, etc., which I also posted.
If I somehow end up with a billion dollars, I will send you a small percent as a token of my appreciation for all your kind comments. My hunch is that if I won the lottery, I would have a lot more relatives than I ever thought I had.