@Cbear : Oil has been creeping for weeks. $53 bbl

Since the elections they have been going up and expect to hit 5 bucks by the end of the year.

@carol888 : don't tease me like that.

@carol888 : 🙄

Just the cancellation of the Keystone pipeline and the ban on lease sales has sent strong signals regarding lowering oil and gas production in the US. This will drive energy prices up, decrease US production, increase our demand on foreign sources and put us at the mercy of foreigners controlling oil prices. This is not a Republican or Democrat "phenomenon", it's basic supply and demand.

@Texvette : Keystone would have carried 100% Canadian crude. Expensive to process crude at that too.

@ParksideRes : Yes - Canadian crude to US refineries. There is already Canadian crude being used in the US. It arrives primarily by rail. The pipeline would have been a safer and more economical means of transportation.While Canadian crude may not be as economical as certain US, lighter crudes, there are US refineries that can process it. US shale oil production will decline as crude prices increase. Would we rather import crude from Canada - or the Middle East, Venezuela, etc. ?Tougher environmental standards are also expected which will continue to reduce US refining capacity. This will lead to the need for increased imports of gasoline.It is hard to argue against environmental standards and a shift to lower carbon emissions-- however, this will take quite some time. The US does not have the infrastructure to depend on wind, solar, battery-generated energy. In the meantime, fossil fuels will be needed to provide energy.

@Texvette : shale won't decline if prices rise, it just makes it much more economical to produce from shale. Shale tech and processee have dropped in price considerably.

@carol888 : NO WAY!! $5 per gallon by the end of the year? Where did you hear this awful news? Ugh.

@Cbear : I don't think anywhere. I'm having a hard time finding any reputable source that has even $3 averages by 2022.
$3 from some iffy sources.

@ParksideRes : Hope you are right. Even after Ike, gas was like $3.75 a gallon. Time always tells.

man - if gas hit $5/gallon - our little corner of the world would have an economic recovery like nobodies business, yeah it is a 2 sided coin. But - no - it isn't going to happen

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Well there goes our oil independence.

@carol888 : I need to invest in more oil companies 😂😂