Are tractor prices dropping, have they peaked?

[Hay Dude]

I guess it don’t matter what tractor prices drop to if there’s no fuel for them.
Let the hoarding begin…

 

[jyoutz]

I

I guess it don’t matter what tractor prices drop to if there’s no fuel for them.
Let the hoarding begin…

I prefer to buy fresh fuel 50 gallons at a time at my local fueling station. It comes from the local refineries and oil fields.

 

[WM75Guy]

I don't see us running out anytime soon. Refineries were operating at 95% capacity for the EIA report this week so more oil will not help increase finished petroleum stocks. The SPR is down 213 million barrels or 35% from this time last year and does need to be replenished. Time will tell if using it to try to lower fuel prices was what worked or did other factors cause the decline.

Drilling in West Texas is booming. In the first 2 days of December 297 well completions reports were filed with the Texas Railroad Commission. West Texas Intermediate is light sweet crude oil, which is not what our refineries were built to process. They use heavy crude such as comes from the tar sands in Canada or from Montana and Wyoming. So the WTI is exported overseas to be refined and the finished products come back here as imports.

 

[jyoutz]

I don't see us running out anytime soon. Refineries were operating at 95% capacity for the EIA report this week so more oil will not help increase finished petroleum stocks. The SPR is down 213 million barrels or 35% from this time last year and does need to be replenished. Time will tell if using it to try to lower fuel prices was what worked or did other factors cause the decline.

Drilling in West Texas is booming. In the first 2 days of December 297 well completions reports were filed with the Texas Railroad Commission. West Texas Intermediate is light sweet crude oil, which is not what our refineries were built to process. They use heavy crude such as comes from the tar sands in Canada or from Montana and Wyoming. So the WTI is exported overseas to be refined and the finished products come back here as imports.

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Good analysis. But I want to point out that there are many refineries in west Texas and New Mexico that do use the Permian basin light sweet crude. All of the fuel in my state is refined in state from in state produced crude, and I know of several refineries in west Texas that do the same. But the gulf coast refineries do use some imported crude.