Media Business | Patrick DeHaan, Gas Buddy | How the Media Deals with Facts & Myths of Fuel

Originally Uploaded January 20th, reloaded February 26th For Media Business Episode 82: Tony Conley has a three-part conversation welcoming back Patrick DeHaan GasBuddy.com oil/gasoline analyst, fact checker and myth buster. What are the current gas prices in Michigan? What do you expect gas price wise in Michigan for 1st quarter 2025. What will the Trump administration mean for the petroleum industry? What is the latest news on the Keystone Pipeline? Tony Conley and Patrick DeHaan discussed the current state of gas prices in Michigan and the national average, with a focus on the potential for sub-$3 prices in the coming weeks. They also explored the challenges faced by refineries, the potential impacts of President Trump's policies on the petroleum industry, and the benefits of deregulation in the oil and gas sector. Lastly, they reminisced about their 16-year journey together and emphasized the importance of exploration for future energy production. Michigan Gas Prices and National Trends Tony Conley and Patrick DeHaan discussed current Michigan gas prices and the national average. Patrick noted that Michigan's gas prices were slightly above the national average, with the statewide average being about 310 cents per gallon. He also mentioned that gas prices had increased due to the price of oil jumping back over the $70 barrel mark. Patrick predicted that there might be another window of opportunity for sub-$3 prices over the next few weeks. Refinery Challenges and Industry Impact Tony and Patrick discussed the challenges faced by refineries, particularly their age and the potential for modernization. Patrick explained that refineries are energy-intensive and can take days to recover from power outages, leading to significant drops in gasoline production... Trump's Impact on Petroleum Industry Tony and Patrick discussed the potential impacts of President Trump's victory on the petroleum industry, both in the US and globally. They highlighted the risks of Trump's policies, such as tariffs on Canadian and Mexican crude oil, which could disrupt longstanding relationships with these countries... An extra section covers Gas Buddy's Journey and Price Hikes