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A month of uncertainty for oil

Photo by Richard BH The historic election in the U.S. which saw not only the election of Donald Trump as President, but a Republican dominated Congress, sets the stage for an uncertain month as OPEC members and Russia move towards a meeting a month's end.There's little doubt that should no limit in production be the outcome of the much anticipated gathering, oil will continue to founder and with it, the finances of many producing nations....

New Jersey Voters Approve Measure to Secure Gas Tax Revenue

via Flickr

Despite the gas tax increase that went into effect Nov. 1, New Jersey voters had the last word on Election Day when they approved Amendment 2 to protect all of the revenue the state hopes to collect from the 23-cent gas tax increase.

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EIA report throws no curve balls, crude inventories rise, gasoline falls gently

The Energy Information Administration released its weekly report today on the status of petroleum inventories in the United States.Here are some highlights:CRUDE INVENTORIES:Crude oil inventories increased by 2.4 million barrels (MMbbl) to a total of 485.0 MMbbl. At 485.0 MMbbl, inventories are 30.2 MMbbl above last year (6.6%) and are at the upper limit of the average range for this time of year. Inventories at major delivery point Cushing, OK rose 0.0 MMbbl to a total of 58.5 million barrels.GASOLINE INVENTORIES:Gasoline inventories decreased by 2.8 million barrels to a total of 221.0 MMbbl. At 221.0 MMbbl, inventories are up 7.7 MMbbl, 3.6% higher than a year ago and are well above the upper limit of the average range for this time of year.Here's how individual regions and their gasoline inventory fared last week: East Coast (-5.4 MMbbl); Midwest (-0.8 MMbbl); Gulf Coast (+3.7 MMbbl); Rockies (+0.0 MMbbl); and West Coast (-0.2 MMbbl). It is important to note which regions saw increases/decreases as this information likely drives prices up (in the case of falling inventories), or down (in the case of rising inventories).DISTILLATE (diesel, heating oil) INVENTORIES:Distillate inventories decreased by 1.9 MMbbl to a total of 148.6 MMbbl. At 148.6 MMbbl, inventories are up 7.5 MMbbl, or 5.3% vs. a year ago....

Fascinating Fuel Stops

Have you ever heard of a gas station shaped like a tea kettle? What about a convenience store carved into a mountain? Better yet, have you ever been to a gas station only accessible by boat? We’ve searched far and wide to find the most fascinating fuel stops on the planet. Let us know if you’ve filled up at any of these stations in the comments! ...

Gas Price Politics: Swing States

Tomorrow is the US Presidential Election and as always, there has been a lot of talk in the news about the “swing” states: Arizona, Colorado, Florida, Georgia, Iowa, Michigan, North Carolina, New Hampshire, Nevada, Ohio, Pennsylvania, Virginia, and Wisconsin. Within these states there’s another type of a “swing” - gas prices. We decided to take a deeper dive of the “swinging” gas price data and give you the top things you may not know about these very important states....

Gas Prices Rise Gently on Colonial Pipeline Outage as Oil Fades

The national average for a gallon of regular gasoline has risen by half a penny in the last week to $2.21 per gallon, according to price-tracker GasBuddy.com. Meanwhile, average diesel prices fell 0.2 cents to $2.42 per gallon.The rise in gasoline prices was fueled by a major jump in New Jersey (24.9 cents per gallon) due to a rise in gasoline tax, as well as increases in states affected by the Colonial Pipeline outage: Georgia (7.9 cents), South Carolina (3.5 cents). Overall, 18 states saw average gasoline prices rise last week, while 32 saw decline.Oil price fell last week to their lowest since September 20, closing the week at $44.07 per barrel, a far cry from October 19, when a barrel of West Texas Intermediate crude oil closed at $51.60 per barrel. The fall comes as skepticism grows that OPEC won't be able to find solid ground to cut oil production as it previously had hoped. ...

The Colonial Pipeline makes a miraculous recovery

Colonial Pipeline Petroleum Farm (by R.B.Plagued with a longer than expected outage in mid September, after an undetected spill in Alabama, forced its closure, last Monday's inferno was cause for grave concern.The Colonial Pipeline is North America's most important petroleum pipeline, by far, carrying on two lateral lines, gasoline and diesel/distillates from refinery row along the Gulf of Mexico easterly to supply the lion share of petroleum productsto consumers from Florida to New York and most places in between....

U.S. Gasoline Consumption on Pace to Increase for 6th Straight Year

via Pixabay

American vehicles consumed 71.8 billion gallons of gasoline in the first half of 2016—an increase of 3% over the same period a year earlier. It’s the highest amount on record, and the sixth consecutive increase in national gasoline consumption for the first six months of any year on record.

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Surge of aging drivers poses new challenge on the road

Encouraging older loved ones to give up their car keys can be one of the most difficult discussions for families.

With aging baby boomers, data show that those conversations will be happening more frequently in the coming years. By the year 2030, more than 50 million eligible drivers will be over 65.

>> Read more trending stories

The nation's aging driving population brought together the government's top auto-safety experts Thursday in Washington for a meeting by the National Highway Traffic Safety Administration.

Advocates and government officials were looking to find the best ways to educate people on the challenges that older drivers face, including understanding if their keys need to be taken away.

"It's a very difficult decision, and a lot of people don't want to make that decision," said Harris Blackwood, of the Georgia governor's Office of Highway Safety. "We want to make sure that those on the road are safe, have cognizant abilities and are not endangering themselves or others."

Blackwood said many states face difficulties in expanding transportation options for non-drivers outside urban areas.

"The big concern is making sure they have an alternative form of transportation, and in Georgia, unfortunately, we don't have (many) intrastate transportation alternatives," Blackwood said. "It's not a Georgia problem, it's an everywhere problem."

Auto group AAA says older drivers are among the safest on the roads. Data shows that they wear seat belts and usually do not speed, but they remain second only to teenagers in the number of fatal crashes each years.

Jonathan Adkins at the governor's Highway Safety Association said intersection crashes are a major issue for older drivers. He said the solution could be found in embracing new technology, including ride-sharing options like Uber and Lyft, or eventually autonomous driving vehicles.

"Driving is freedom, especially for generations in the past," Adkins said. "Technology can provide a lot of the solutions and help us get around and do it safely."

The meeting of auto safety experts was held at the Department of Transportation as part of a discussion on the future of transportation.

New Jersey Gas Tax Hike: Will Your State Be Next?

via ReutersThis article was originally published on FOX Business on November 1, 2016. As New Jersey residents adjust to paying more at the pump thanks to a fat gas tax that kicks in today, drivers in other states are on edge--especially those with bridges and roads badly in need of repair. “Many other states are facing similar issues, but haven’t raised the gas tax in a decade or more,” said Carl Davis, research director at the Institute on Taxation and Economic PolicyOpens a New Window. . “It can be a political challenge.” ...

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