Saturday, April 14, 2007

Pump Prices

Last summer folks whined a bit about $3/gallon gasoline. Well, the station at Touhy and Sheridan is displaying $3.11/gallon for regular and no public peeps that I know of.

Check funds folks. If it's at $3+ now with the peak driving season ahead, how high can it go?

Over at The Oil Drum there's a post by Jeremy Gilbert regarding the analysis of Ghawar. What follows is an analysis of Jeremy (and his analysis) by the Drum's denizens. Bottom line - Jeremy sees many unknowns to making any definitive prediction about a field that could be helped by technology. He does think the amateurs, as he calls them, have done yeoman's work in the analysis. The 'amateurs' appreciate his POV, although they suspect his highly nuanced comments suggest he is in agreement with their conclusions although unwilling to say so publicly. It is also pointed out that some of the folks Jeremy sees as 'amateurs' are actually professionals in the field. Interesting reading as always. At least for me.

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