I recently got a fuel card from EFS who has negotiated some good discounts with TA, Pilot, and Wilco Hess. I get the better of cash price minus 4 cents or the truck stop's actual cost plus 4 cents.

I've noticed that when the price of oil is falling, as it has recently until the end of last week, the discounts off the pump price have been very substantial, on the order of $0.25 to $0.40 per gallon. In fact, I think they were touting average discounts of about $0.34 last week (actual price varies by individual truck stop, even within the same chain). In Mississippi friday before last, I paid $3.76/gal when the pump cash price was $4.04. If I'd waited till I'd gotten to Tuscaloosa, my price would have been $3.72. Each day you have to go online to get updated pricing.

But when the price of oil heads upward, as it did at the end of last week, the discounts evaporate. I just checked this morning and nearly all of the Pilots in my neck of the woods (Georgia) are at a $0.04 discount. Which means I'm just as well off or better using my Amex with the 5% cash back even after I pay the premium credit pump price.

The moral of this story is that, yes, the truck stops are much faster adjusting their prices on the way up than down. No big surprise there, but concrete evidence that they do.

 

That first sentence I highlited is not factual. While Clinton did sign off to continue the ban, the actual "Ban" you refer to was put in place by the father of our current president...George H. W. Bush. Each president since...BOTH of them...have signed off on that ban every year..until this year, when George W. Bush, did not.

The second phrase that I highlited.... that is not factual either. If the equipment were available to allow all of the AMERICAN oil companies...and ONLY American oil companies to begin drilling in the "Banned" area..it would still take a minimum of seven years to get that oil into the system.

Orders for "Deep Water" drill systems, that meet current MMS guidlines, are 3 years behind in production schedules. Most of the rigs currently being built, are under contract to foreign companies. Some of those rigs will be drilling in American GOM waters..most will be drilling in Mexican, Cubam or southern GOM and Caribbean waters belonging to Venezuala, Trinidada-Tobago or Brazil. Some of the rigs under construction are destined for waters off the coasts of Africa..Vietnam..China...and in the Black Sea. ALl of those rigs are being built overseas...South Korea..Vietnam..Norway...Singapore. NONE are being built or even have been ordered, here in the US.

After drilling equipment, infrastructure is the second obstacle. There is ZERO infrastructure in Florida, South Carolina, North Carolina, Virginia, or Delaware, to support the movement of crude oil inland. How easy do you suppose it will be to get that infrastructure built.

Have you ever heard of "The Sierra Club" or "The National Audobon Society"?? They...as well as Greenpeace...are going to fight tooth...nail...and $$$$$$$$ to prevent drilling.

Do you suppose China...Vietnam...and the Saudi's would contribute money to their cause???