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Wolfcamp: The new name of US oil independence

Permian Basin Oil Production (by G O'Graffer)Amidst signs of life with renewed shale production in the Permian Basin of West Texas, geologists this week revealed a timely discovery.While shale oil plays have suffered along with depressed prices for crude, the assessment from the U.S. Geological Survey found thatthe Wolfcamp area within the Permian could be the lasgest ever estimated in the U.S....

California DOT Surveys 14,000 Truckers to Improve Freight Movement

via Pixabay

Earlier this month, Caltrans—California’s Department of Transportation (DOT)—reached out to freight operators asking them to participate in an official survey. Aimed at collecting data on physical and operational characteristics of commercial vehicles in the state, the Caltrans Truck Survey is intended to help improve freight movement in California.

Caltrans hopes to hear from 14,000 drivers, both online and by phone. Approximately 5% of those taking the survey will use on-board global positioning system devices (GPS) in the trucks to collect data on trip distance, speed, duration and fuel usage. The devices will be sent to participants and returned after one week of data collection.  

This data is vital for identifying projects, strategies and initiatives that can improve the flow of trucks across the state. And hopefully, the’ll consider highway safety too—here’s why:

The survey results are expected to yield key insights on the types of trucks operating on California roadways, the types of commodities they’re carrying and their travel patterns. The data will provide critical information for California’s Statewide Freight Forecasting and its Statewide Travel Demand models. These models are used to help Caltrans evaluate plans and projects that are most beneficial to the environment, economy and transportation network, while reducing greenhouse gas emissions.

Their model may also be a good idea of other states to consider—especially after the Colonial Pipeline problems on the east coast in both September and October, which brought attention to the long-distance truckers bringing gasoline to major metro areas. By collecting this important data, California and other states’ transportation officials can determine when volatile fuels like gasoline are being transported, where they’re going and when it’s happening. 

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EIA report shows large crude oil build as refiners ramp up output

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 5.3 million barrels (MMbbl) to a total of 490.3 MMbbl. At 490.3 MMbbl, inventories are 35.2 MMbbl above last year (7.7%) and are at the upper limit of the average range for this time of year. Inventories at major delivery point Cushing, OK rose 0.7 MMbbl to a total of 59.2 million barrels.GASOLINE INVENTORIES:Gasoline inventories increased by 0.7 million barrels to a total of 221.7 MMbbl. At 221.7 MMbbl, inventories are up 7.5 MMbbl, 3.5% 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 (+0.6 MMbbl); Midwest (-0.3 MMbbl); Gulf Coast (-0.4 MMbbl); Rockies (+0.4 MMbbl); and West Coast (+0.4 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 increased by 0.3 MMbbl to a total of 148.9 MMbbl. At 148.9 MMbbl, inventories are up 8.6 MMbbl, or 6.1% vs. a year ago....

BP Takes Fueling to the Next Level

Ever pull up to a gas pump only to dread wasting your precious time by filling up your tank? Well, BP has had enough of it, today introducing new pumps at a few sites in New York City and Chicago to spice up the dullness and boredom of filling your tank.The outfit to pumps, dubbed "Miles", is a new "Personality Pump" that uses interactive technology to scare the heck... err... say "hi" to you when you pull up to fill. Seems a little odd, but hey, at least someone's finally noticing me when I get out the car to fill up. So often I'm greeted by a grumbling motorist filling their tank. Don't like interaction or your choice of music? That's fine, Miles won't impede or rudely interrupt....

Is Your Car Road-Ready for Thanksgiving?

via Wikipedia

Traveling for your holiday gathering? Whether you’re going down the road or across the country, ensure your vehicle’s up to the task while you still have time.

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Gas Prices Buckling, 49 of 50 States See Declines

Gas prices are falling rather quickly in the U.S., with 49 of 50 states seeing prices decline in the last week, according to price-tracker GasBuddy.com. The national average has fallen five cents in the last week to $2.15 per gallon, as prices now stand an average of 2 cents lower than a year ago."As oil prices have crumbled under the realization that supply continues to outpace demand, gasoline prices have fallen in tandem as we approach the holiday season. I'm sure that's music to the ears of millions of motorists," said Patrick DeHaan, senior petroleum analyst at GasBuddy.com. "While all eyes should remain on OPEC's reaction and coming meeting, motorists will likely continue to see the national average falling this week, catching up to the fall in oil prices, which now have taken oil to the lowest level since March."The only state not seeing a decline was Hawaii, where gas prices rose an average of 0.8 cents per gallon. Leading decliners was Indiana (15 cents), Ohio (12 cents), Michigan (12 cents), Illinois (9 cents) and Kentucky (9 cents). The Midwest region saw the nation's largest declines as gas prices there react quickly to market changes in both directions....

A month of uncertainty ahead for oil

Image by Sergio RussoThe 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 crucial 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....

NACS Reflects on Trump Victory, What It Might Mean for Motorists

Jeff Lenard

Just after President-Elect Donald Trump’s historic victory, we had the opportunity to speak with Jeff Lenard, spokesman and vice president of strategic initiatives for the National Association of Convenience Stores (NACS), the nation’s gasoline retailers.

Does the election result change the outlook on energy or fuel prices? Jeff Lenard explains why today there are simply more questions than answers—but perhaps reason for optimism, too. Here are some highlights from our conversation:

“Let’s look at fuels and how that might play out.

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Vehicles for Veterans

This Veterans Day, we at GasBuddy honor and give deep thanks to those who have served our country. There are many ways to thank our heroes for their service, but one of the most impactful ways is to donate your vehicle. Each tax-deductible donation helps provide critical services to our veterans—and it’s easy.

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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....

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