posted on February 18, 2003 11:44:49 PM new
Venezuela oil halt no problem to state -- yet
Political unrest in Venezuela has strangled oil exports from that country, but it's had minimal impact on the price or supply of gasoline in California, energy experts said Monday.
Prices at the gas pump declined slightly last week to an average $1.52 a gallon, compared with $1.525 the week before, said Rob Schlichting, a spokesman for the California Energy Commission.
A survey by the California State Automobile Association also found no price hikes in Sacramento, with the average price of unleaded self-serve at $1.543, compared with $1.60 a month ago.
Several factors contribute to cushioning the state's drivers from the impact of Venezuela's 3-week-old general strike aimed at ousting Venezuelan President Hugo Chávez.
First, about 70 percent of California's crude oil in 2001 came from within its own borders or from Alaska.
Second, most Venezuelan crude bound for the United States goes to the East Coast. California imported just 3.99 million barrels of Venezuelan oil, or 0.61 percent of all crude used in the state in 2001, according to the Energy Commission. That made Venezuela only the 10th-largest exporter to California last year.
Third, Venezuelan crude that does go to the East Coast is used primarily for heating oil, not gasoline, Schlichting said, reducing the pressure on gasoline stocks.
Still, rattled by the strike and the specter of war with Iraq, traders are beginning to bid up the price of crude oil, which could eventually be felt at the gas pump, said Robert Sharp, an executive at Platt's Oilgram Price Report in Houston.
The price of crude-oil futures has climbed nearly $4 a barrel in recent weeks, with North Slope crude now trading at about $29 a barrel, up from $25.48 on Dec. 6.
That normally would translate to an increase of about 12 cents a gallon for gas, but California might not feel the brunt of that, said Schlichting of the state Energy Commission.
That's because California prices already are higher than most of the rest of the country because of higher transportation costs and anti-pollution additives. Also, gasoline supplies are plentiful here because the state's refineries are producing at high rates.
Other OPEC nations also have increased their production, helping offset any shortfall from Venezuela, said Cynthia Harris, a spokeswoman for the CSAA.
And if the Venezuelan situation is resolved, many expect the country to boost production and cut prices to help it recover from its prolonged difficulties.
But all that would be irrelevant if the United States goes to war against Iraq, which is the leading exporter of crude to California, accounting for 8.38 percent of all crude refined in the state.
"The wild card is Iraq. With a war, you would see a big price spike," said Schlichting.
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Funny thing is this report is from the Sac Bee and a San Diego news site is stating that Venezuelan strike could result in 2cent per gallon per da y price hikes this week.
posted on February 19, 2003 12:45:22 AM new
Yeah, it's been shifting back towards the center of late, although still too republican. This legislature isn't going to ream out the taxpayers the way that they got to in previous years. We hope.
posted on February 19, 2003 11:35:26 AM newhelenjw I'm sorry I offended you. I was frustrated by other posters who were repeatedly responding to things posted by myself and others, mischaracterizing what we said and belittling our conclusions without providing any facts in support of their claims.
As I said in another post, I can respect people who do their homework and are straightforward about the facts, even if they draw a completely different conclusion than I do. I can't respect - and will disrespect - people who demonstrate willful ignorance or try to twist their opponents' statements to insinuate positions that were clearly never intended. I can reconcile that with my own sense of fairness. You have a right to disagree.
[ edited by msincognito on Feb 19, 2003 11:37 AM ]
posted on February 19, 2003 12:14:34 PM new
>I was frustrated by other posters who were repeatedly responding to things posted by myself and others, mischaracterizing what we said and belittling our conclusions without providing any facts in support of their claims.
Welcome to the Round Table, where those who do not use facts to base their opinions on use snide remarks and name calling instead.
posted on February 19, 2003 02:16:32 PM new I can handle it ... actually there seems to be a good mix here, as opposed to the board I previously hung out at, which was invaded and taken over by the Faithful Followers of Brother John Birch, etc. After the 300th thread about "Why the (racial epithet here) are ruening this contry" (actual spelling may vary) I gave up and left.
I've posted at AW for a long time now, but usually stuck to auction-related stuff.
I also understand that the mere act of having a brain and using it will offend some people. Oh well.
(And actually, I should be up-front .... I'm not a "libertarian" per se ... but even when we diverge, we've at least got the first two syllables in common )
I can handle it ... actually there seems to be a good mix here, as opposed to the board I previously hung out at, which was invaded and taken over by the Faithful Followers of Brother John Birch, etc. After the 300th thread about "Why the (racial epithet here) are ruening this contry" (actual spelling may vary) I gave up and left.