I wonder if Dbrea26 will let us know what he found if he did get to see this 2500.00 vehicle today and what the seller said about an inspection .
BlockquoteWhen fuel prices drop to half what they are now which could happen within a few years, your extra expense of the Lincoln will be $520 per year.
Donât bet on that! The USA has not built an oil refinery in decades; no plans to build one either. Investment in oil infrastructure in the USA has ground to a halt. The push is to all electric; and the more electric cars, the less gasoline needed which will drive up the price of gas as the volume produced shrinks.
At 50% electric cars in the USA, you could see $15/gallon gasâŠif you can even find it. Why invest in, and produce, gasoline when the government has declared war on gas powered cars?
Would you have invested a billion dollars in a horse buggy factory in 1920?
2 Likes
While that is true, existing refineries have been enlarged and expanded, thus increasing their output capacity.
1 Like
True, but those efforts are band-aids. It shows the oil companies know that major investments, like in a completely new refinery, are a bad idea in the USA.
The bet is 100% electric. Iâm not against EVâs, I think they make a lot of sense in congested areaâs like LA, but the math doesnât work for 100% EVâs nationwide as weâre a couple decades from the grid capacity that 100% EVâs would require.
2 Likes
Planned global oil refinery facilities by region 2021
Asia is the region with the greatest number of future petroleum refineries. As of 2021, there were 88 new facilities in planning or under construction. By comparison, North America is set to see an addition of 10 petroleum refineries . The amount of oil fed through refineries in Asia has significantly increased in the past three decades as demand for petroleum products surged in developing countries such as China and India. China is on track to succeed the United States as the country with the greatest oil refinery throughput.
6 US refineries closed in 2020
When was the last refinery built in the United States?
Look at the capacity; very small. The last major refinery was built in 1977.
The short of it is, refineries are going to face falling demand as we switch to EVâs. The trend is to patch the large facilities and build small facilities. The market will meet demand; but as demand falls, I wouldnât expect price to fall with it because economies of scale go away.
Oh, and Asia, yes, growingâŠthe Saudiâs are building a $10,000,000,000 (Thatâs 10 Billion Dollars) refinery in China to process Saudi and Russian crude.
That has to do with the price of gasoline compared to the price of oil. Oil is $120 per barrel now and gasoline is passing $4.50 per gallon. The higher gasoline prices in some areas are due to taxes. Gasoline cost $2 something per gallon in early 2021 and oil was $50 per barrel. When oil was free during the pandemic, some places in Texas has gasoline for $1 per gallon!
I took that out of context, but Iâm sad to say that I believe it works as a standalone concept.
I have no doubt that their goal is to dominate world markets in respect to virtually every type of commerce.
I love all the crystal balls. Do none of you kids remember the days when Christmas lights were forbidden or at least made socially unacceptable? To save electricity. And the grid is in worse condition now. As was advised, wear a sweater. Donât pass horses, go directly to bikes.
I wonder if India is also going whole hog w/their oil refining capacity? IIRC India isnât honoring the USAâs request to boycott Russian crude, so they probably have a glut of Russian oil on their hands now, donât know what to do w/it.
Donât recall the âno Christmas lightsâ message, but I do remember Jimmy Carter wearing sweaters a lot in the 1970âs energy crunch. There was a popular book published in that era, The Limits to Growth, subject to much discussion at the time; their computer simulations suggested oil reserves would be mostly gone by the end of the century (circa 2000). They didnât anticipate the oil-industryâs technological advances presumably.
I worked a part-time job pumping gas at a gasoline service station then. Owner told me to place a big sign saying âout of gasâ every day at 4:30 pm. Station had plenty gas in its tanks. I still put the sign out, used the spare time to figure out how the tire changing machine worked.
LOL my post was flagged, donât care, I said it, I meant it, and nothing offensive or inappropriate was said. Grow up people.
1 Like
I must have missed it. But like I said, take a drive and ponder how that all would work, then shake your head. Not to mention trains, boats, planes, trucks, and home heat. An Elvis tune comes to mind.
No, I have never heard of anytime when Christmas lights were forbidden, but then I am only 71.
1 Like
I have never heard of it either and I am six years older than you.
1 Like
Nixon , asked for a reduction of outdoor lighting ( Including Christmas lights ) in 1973 . OPEC was raising prices and reducing crude production .
Or, Bing was in London during the blitz.
1 Like
see above. USA 55 mph interstates.