High gas prices due to ‘massive disconnect’ between refining, crude oil supply: Energy analyst

#Gas #Oil #Economy
CIBC Private Wealth Senior Energy Trader Rebecca Babin joins Yahoo Finance Live anchors Julie Hyman and Brad Smith to discuss rising oil prices, demand destruction, volatility, and the outlook for this summer.
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[BeatMedicare]

Imagine how the press would react if everything was going this poorly during Trump.


Everything was GREAT and they still cried and complained. I never made more money in my life, now I watch my portfolio bleed and I pucker up when I buy gas. Things suck right now.

[jamescapelli]

hIGH PRICE BECAUSE OF THE CROOKS IN DC

[zahidraza]

If the US doesn't get much oil from Russia, why are gas prices skyrocketing?
Each morning gas prices continue to climb higher. You’ll probably see it in the morning on the way to work. We are told it’s caused by the Russian invasion of Ukraine.
But only a fraction of our gas comes from Russian oil. So why is the price so high?
It might be hard to believe, but the U.S. and Russia are both in the top three of oil producers in the world.

[joachimlindback]

Oil companies do not want to invest to increase production. They have suffered in previous downturns and now they are making money.

[frankcoffey]

Demand destruction will not cause gas prices to fall. Gas will continue to go up because of new excuse here). It's happened since the 1970s. The fuel industry knows their 100 year old business is going away and they will not be "nice" about it. They will gouge on the way down and there is no limit to how high prices could go. At some point even gas stations will not continue selling the product so not only will there be a price problem, availability will be the next crisis. As consumers the only thing we can hope for is that electric vehicle makers will be able to ramp up production fast enough because every car on earth will have to be replaced.

[shelsea]

WTH is she talking about? Gas is already over $5 a gal

[jeffstrong]

Fracking has bad name due to using water to bring up oil and not filtering dirty water due to high costs. But if we only want natural gas then we just have to do fracking ground and don't have to use water. Even with raising rates, if Washington allow fracking for natural gas with government soft loans, fracking companies will be able to make big profit after natural gas price went up by 300% in last 3 months with EU buyers waiting. With Putin in charge of Russia, it will be at least 3 years that Russia will be out of oil and LNG market. Biden allowing fracking for natural gas with soft loan will drop LNG price back to normal again.

[twobeerjohn]

We need to go to Tesla and see what all of the employees are driving! Hypocrites I’ll bet?

[lutzfilor]

Open the strategic oil reserve and cool the markets.

[eM-edpz]

I'd buy an electric car but they are terrible for the environment

[lutzfilor]

Sensitive? Okay it is time to retire my old car.

[bohdanburban]

'Clean energy' - the 800 pound gorilla in the room.

[Cabbage]

If you cant afford an electric car, then you cant afford to drive.

[phileasler]

Drive electric ⚡️ and say bye bye to the pumps

[chessdad]

Ride a bicycle. I drive less than 10 miles a week.

[WatchRichRebuildsChannel]

People driving a gas car for an everyday vehicle is like people using pay phones when cell phones came out. Old outdated technology.