Gas Prices Soar Across U.S.

WASHINGTON – The average price of a gallon of regular gasoline has jumped 45 cents in the past 31 days, according to AAA, the fastest run-up since 2005.

Retail gasoline prices have climbed for 33 days in a row.  A month ago, a gallon of regular gasoline cost $3.30; on Tuesday it stood at $3.75 nationwide.

Gasoline prices have risen to within a nickel of $4 a gallon in the District of Columbia as pump prices nationwide have been marching higher – the result of refinery closures and maintenance, lower oil production by Saudi Arabia, market anxiety about tensions in Iran and Iraq, and guarded optimism about the prospects for economic recovery in the United States, Europe and China.

Read more:  http://business-news.thestreet.com/the-mercury/story/gas-prices-soar-across-us/1

U.S. May Soon Become World’s Top Oil Producer

English: basic map of USA

English: basic map of USA (Photo credit: Wikipedia)

NEW YORK — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world’s biggest producer.

Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.

The boom has surprised even the experts.

“Five years ago, if I or anyone had predicted today’s production growth, people would have thought we were crazy,” says Jim Burkhard, head of oil markets research at IHS CERA, an energy consulting firm.

Read more: http://www.pottsmerc.com/article/20121023/NEWS04/121029786/u-s-may-soon-become-world-s-top-oil-producer&pager=full_story

Gas Prices Set A Record In California

This map shows the incorporated areas in Los A...

This map shows the incorporated areas in Los Angeles County, California. Torrance is highlighted in red. I created it in Inkscape using data from the Los Angeles County Website (Los Angeles County Incorporated Area and District Map (PDF). (Photo credit: Wikipedia)

California’s average gasoline price set a record Saturday of $4.614 for a gallon of regular, up 12.8 cents overnight – but anyone who filled up in the last few days probably isn’t surprised.

Gasoline prices skyrocketed after the Exxon Mobile refinery in Torrance was knocked offline Monday by a power outage. Other lingering refinery and pipeline problems also contributed to the soaring costs at the pump.

Read more: http://www.mcall.com/news/nationworld/sns-la-fi-mo-gas-price-record-20121006,0,2206438.story

As Gas Drilling Boom Slows, Worry Sets In

Map of Pennsylvania highlighting Bradford County

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TOWANDA, PA - Vince Arena has a commanding view of Route 6 from Moore’s Auto Showroom. Since 2006, he has seen the traffic on the two-lane road swell with the region’s gas boom until it is bumper-to-bumper, light-to-light for miles just about all day.

Every few seconds, a tractor-trailer hauling water or massive pumps to or from drill sites rumbles past. For the last few weeks, however, Mr. Arena has been able to pull out from his lot without relying on the kindness of other motorists to let him out.

In January, one of the region’s largest gas drillers, Chesapeake Energy Corp., announced it would reduce its rig count in the region. Its rig count will go from 75 to 24, drilling fewer new wells and reducing the flow from existing wells. Other companies made similar announcements.

Read more: http://thetimes-tribune.com/news/as-gas-drilling-boom-slows-worry-sets-in-1.1273569#ixzz1mrJwxXny

Marcellus Shale Gas Boom Has A Downside – Crime

In a modern-day echo of the raucous Old West, small towns enjoying a boom in oil and gas drilling are seeing a sharp increase in drunken driving, bar fights and other hell-raising, blamed largely on an influx of young men who find themselves with lots of money in their pockets and nothing to do after they get off work.

Authorities in Pennsylvania and other states are quick to point out that the vast majority of workers streaming in are law-abiding. But they also say the drilling industry has brought with it a hard-working, hard-drinking, rough-and-tumble element that, in some places, threatens to overwhelm law enforcement.

Read more: http://www.stargazette.com/article/20111029/NEWS01/110290358/Pa-towns-see-crime-surge-amid-gas-boom?odyssey=tab|topnews|text|FRONTPAGE

Pa., W.Va., Ohio Vie For Huge New Shell Gas Plant

Cropped portion of image from USGS report show...

Image via Wikipedia

PITTSBURGH (AP) — Big industry may be coming back to the northeast United States.

Shell Oil Co. is nearing a decision on where in the Appalachians to build a huge new petrochemical refinery — a project that could bring thousands of construction and production jobs and change the face of the region for decades…

To read the rest of this article, click here:  http://hosted2.ap.org/PALAP/d3444c3add384b05a39deb3258f13309/Article_2011-09-03-Gas%20Drilling-Refinery/id-3ff93b9f9fff48e2b50d5b5aca340964

Here Is The Official BS For Why Gas Prices Have Risen

Container of Gasoline

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So it would seem because the economy has improved, albeit very little, and we all spent a few extra dollars on Christmas presents – GREEN LIGHT - it’s okay a gouge us at the gas pump.  Some mumbling about commodities, the dollar is worthless, gas supplies are good and all that rot.  So bend over America!

Gas prices have risen nationally, 16 cents over last month and 46 cents over last year!  The price of a gallon of regular unleaded gas is $3.05 (national average).

Many people are only doing absolutely necessary driving, me included!  This is highway robbery!  Time for another boycott!  Seems if we don’t buy anything, the price of gasoline will come back down following this logic!

Great way to stimulate the economy, not!

Gasoline Prices Expected To Drop After Labor Day

Like many gasoline stands in Japan, this Hiros...

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Some recession-buster news!  Gas prices are expected to drop between 10 and 15 cents a gallon after the end of summer holiday.  That is, barring any disasters or unforseen circumstances.  Oil prices are falling as consumers are staying closer to home this summer and not spending money fearing a relapse in the economy (smart move).