Transcript
Mark Lacour (0:10)
You're listening to the Oil and Gas this Week podcast with Mark and Paige lacour. This is the show for busy oil pros who quickly want to keep their finger on the pulse of the industry.
Paige Lacour (0:27)
You're listening to the Oil and guest this Week podcast sponsored by navis. This is the show for busy oil pros who want to quickly keep their finger on the pulse of the industry. Thanks for joining us for episode 402.
Mark Lacour (0:38)
Paige every day at oil and gas operations costs more than time. It costs money, safety and productivity. The problem most teams are still working with outdated or incomplete site data. Navs helps you capture your facilities quickly and turn it into accurate, accessible digital twins your teams can use from anywhere. That means faster planning, fewer site visits and better decisions on the ground. If you want to reduce delays and improve execution, visit navis.com, tell them Ogg Incentive Awesome.
Paige Lacour (1:05)
We are recording live from the DECRA Safety in Action Conference from beautiful Orlando, Florida.
Mark Lacour (1:12)
It looks like we got a review. Look, starting to see a theme.
Paige Lacour (1:15)
There's a trend happening and there's a lot of someone pissed off everybody in the UK apparently. All right, we've got a five star review. Bloody brilliant the pair of them. Posted by a proper fan London, United Kingdom I'm British, I live in the UK and I just read that essay left by my fellow countrymen complaining about oil and gas this week and I'd like to formally apologize on behalf of the entire island. We invented the lengthy complaint, but that was something else entirely. The King and Queen of oil and Gas podcasting have made it official and frankly, it's the most exciting royal news we've had since some of us Brits actually appreciate great podcasting when we hear it. Keep flying the flag you two. Thanks so much for the that great review that was so a proper fan.
Mark Lacour (2:03)
London, uk thank you for that. But folks, if you want to help support this show, leave us a review. If you like what's going on, we'd love to hear about it. If you don't like it, we'd like to hear that as well. It's the number one way you can help people find this podcast. Let's get the news stories.
Paige Lacour (2:16)
All righty. First up, we have gasoline prices jump across all 50 states.
Mark Lacour (2:21)
Yeah, not surprising anybody with what's going on with the war. This is an article written by GasBuddy, which is a data aggregate company that tracks retail gas prices. According to data, U.S. price of gasoline has risen over 38 cents in just in the last week. Now if you read through this it's actually some really good information here. The states the lowest average prices were Georgia, Oklahoma and Louisiana. The states with the highest gas prices. You want to guess which one has the highest gas price? California, California, Washington, Hawaii. The gasoline prices rose in every state. At the same time, diesel prices are also rising. And there's a couple of things going here. It's not just the war. In the Straits of Hormuz, we have refinery outages. We also have some refinery turnarounds which are planned outages, and then when those come offline, the supply goes down. But the big thing is, with everything going on in the world right now, especially with what's going on in the Straits of Hormuz, guys, you just have to understand that the pricing is going to be very fluid, very volatile. Some local areas may have lower prices, some other areas may have higher prices. But with the markets doing what they're doing right now, prices are going to continue to climb. And we haven't gotten to the worst yet. As much as I hate to see it say it. And then of course, for people that do, okay, we may complain about having to pay more to fill up our car, but unfortunately some of our underprivileged poor people, they're going to struggle and may not be able to do it as prices continue to go up. If the war ended today, you're probably still looking at six months before prices come down. No matter what our federal government says, that's come down almost immediately. I think the quote was, as soon as the war is over, it'll drop like a rock. That's not going to happen.
