Now and Zen Posted May 23, 2008 Share Posted May 23, 2008 I thought this was worth talking about as it affects all of us. I didnt see another thread dedicated to this alone, so if nobody minds Ill start one. If it is not wanted, then you can delete it. I have never in my life seen a local gas station raise the price of gas twice in one day as they did today. Not only twice, but three times! I bought $25 dollars this morning at $3.91 a gallonn and right now it is #3.97!. All of the other stations are over $4. This is no longer a problem, it is a catasrophy. What is going to happen? The idea of electrid cars taking people to work within a 30 mile limit is something to ponder. But new technology must come quickly. This America is the worst we have seen since the days of Viet Nam. Uncertainty of who should lead us, gas prices, violence, and keeping safe from terrorism, and more. And lets not forget that college educated people cant even find jobs. What about the poor folks that cant either afford college or get through it? It is time to push the panic button now and do something, before we wind up like a third world country. I will read your responses with much interest. Link to comment Share on other sites More sharing options...
Pb Derigable Posted May 23, 2008 Share Posted May 23, 2008 lets hold up a second, we wouldn't want to do anything irrational like build refineries and start digging holes in anwar. I mean that would only bring down oil prices and let OPEC suck their own cock. WHo wold want that. Link to comment Share on other sites More sharing options...
Rock Action Posted May 23, 2008 Share Posted May 23, 2008 lets hold up a second, we wouldn't want to do anything irrational like build refineries and start digging holes in anwar. I mean that would only bring down oil prices and let OPEC suck their own cock. WHo wold want that. How DARE you use logic and common sense here!!!! Link to comment Share on other sites More sharing options...
eternal light Posted May 23, 2008 Share Posted May 23, 2008 It appears that some of the refineries in New Orleans are still offline, which may impact prices. I think we're still paying for the hurricane. neworleans-hurricanekatrina.com/New-Orleans-Oil Gas prices rise, oil settles above $132 Consumers feel pain at the pump going into the holiday weekend. Crude prices head higher as supply worries continue to affect the market. Last Updated: May 23, 2008: 4:16 PM EDT NEW YORK (AP) -- As consumers began hitting the road Friday for the Memorial Day weekend, they faced the sobering reality that it now costs $87 to fill a Ford Explorer SUV, up $14 from last year, and $72 to fill a midsized Honda Accord, up $12. That's because gas prices, which took another jump higher overnight, are up nearly 20%, or 65 cents a gallon, over the past year to average nearly $3.88 a gallon nationally. But unlike this time last year, when gas prices were at their peak for 2007, pump prices now show no signs of halting their daily assault on the record books. "Four dollars [a gallon] is a done deal now," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, Ill. "We could go significantly above that." On average, drivers in Alaska, Connecticut, California, New York and Illinois are already paying more than $4 for gas, and an increasing number of stations around the country are posting prices higher than $4. In Alaska, where the average price of regular gas stood at a national high of $4.181 on Friday, it now costs $94 to fill an Explorer, and $77 to fill an Accord. Nationally, the price of a gallon of regular gas rose 4.4 cents overnight to a record average of $3.875, according to AAA and the Oil Price Information Service. Prices are headed even higher in coming days because of oil's dramatic rally this week to a new record above $135 a barrel. "We're going to see some more significant increases here in light of what we've seen in the last few days," said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, N.J. Oil prices fluctuated Friday as investors placed bets before the long holiday weekend. Light, sweet crude for July delivery rose $1.38 to settle at $132.19 a barrel on the New York Mercantile Exchange, after alternating between gains and losses. Supporting prices was the dollar, which weakened against the euro and attracted more investment money to energy futures. A growing number of investors have come to view commodities such as oil as a hedge against inflation and a falling dollar. Also, a weaker greenback makes oil futures less expensive to investors dealing in other currencies. Many analysts see the dollar's protracted decline as one of the chief reasons oil prices have doubled over the past year. 'Hungry for diesel' Growing demand for fuel is also helping boost oil prices. Demand for diesel has spiked in China, where power plants in some areas are running short of coal after last week's earthquake. But even before the quake, Chinese diesel imports were rising sharply. China's government has released nearly 170,000 barrels of fuel from its strategic petroleum reserve this week to ensure adequate supplies in earthquake areas. "China's just hungry for diesel," Ritterbusch said. Diesel prices in the U.S. rose 5.9 cents to a record national average of $4.649 Friday, according to AAA and the Oil Price Information Service. Diesel's rise has been far more dramatic than that of gasoline: Diesel prices are $1.73 a gallon higher than one year ago, averaging more than $5 a gallon in some parts of the U.S., and may rise above an average of $5 in California and New York over the weekend, Kloza said. Diesel is used to fuel most industrial vehicles, and is a big part of the reason prices for food and consumer goods are rising. Heating oil, which is closely related to diesel and often traded as a proxy for the fuel, rose above $4 a gallon on the Nymex on Thursday for the first time. On Friday, June heating oil futures fell 8.87 cents to settle at $3.8656 a gallon. Analysts cited profit taking for the price swoon, but expect heating oil futures to resume their upward course next week. Conflicting views Oil prices did come under some pressure Friday as some investors collected profits ahead of the weekend. Many analysts argue that oil prices have risen well beyond levels that can be justified by supply-and-demand fundamentals; an increasing number of analysts are referring to the situation as a bubble. U.S. demand for fuel and oil has fallen this year. Some analysts see signs in a recent switch in the relationship between the price of the current July crude contract and prices of crude for delivery in future months that tell them prices could soon fall. Analysts also say a significant reduction in demand for gasoline could bring prices down. Energy Department data shows gasoline demand has fallen for much of the year, and new Federal Highway Administration data shows the number of miles Americans traveled fell 4.3% in March compared to the previous year - the first year-over-year drop in March travel since 1979. But few analysts are willing to call an end to oil's rally, noting that investors just continue to plow money into the market, pushing prices ever higher. "Big mo [momentum] is driving this thing now," Kloza said. In other Nymex trading Friday, June gasoline futures rose 6.63 cents to settle at $3.396 a gallon, and June natural gas futures rose 16 cents to settle at $11.857 per 1,000 cubic feet. money.cnn.com Link to comment Share on other sites More sharing options...
Pb Derigable Posted May 23, 2008 Share Posted May 23, 2008 How DARE you use logic and common sense here!!!! No, you can use logic an common sense, but the environmentalist wackos throw common sense out the window while the liberals (and McCain), who are funded by said wackos, like to look the other way. In 2001 Bush pushed for drilling in anwar and refineries and look where we are at now. $4 and it was McCain who led the charge against it. Link to comment Share on other sites More sharing options...
Pagey_17 Posted May 23, 2008 Share Posted May 23, 2008 I dont drive but jeeeeez its ridiculous, 1.10 at a local supermarket and it seems to go up 1p every other day Link to comment Share on other sites More sharing options...
Mattmc1973 Posted May 23, 2008 Share Posted May 23, 2008 How about Bush make himself useful and use his well-known ties to the House of Saud, and pressure the Saudis to release more oil supply? Link to comment Share on other sites More sharing options...
zepyep Posted May 24, 2008 Share Posted May 24, 2008 Hi Matt,all, How about Bush make himself useful and use his well-known ties to the House of Saud, and pressure the Saudis to release more oil supply? Well he tried that,but the USA doesn't buy most of it's oil from the house of Saud,... We ourselves,Canada,Mexico,that's where we get 55+% of our oil from,..... Food and water is going to be the problem soon,..... KB Link to comment Share on other sites More sharing options...
electricmage Posted May 24, 2008 Share Posted May 24, 2008 No, you can use logic an common sense, but the environmentalist wackos throw common sense out the window while the liberals (and McCain), who are funded by said wackos, like to look the other way. In 2001 Bush pushed for drilling in anwar and refineries and look where we are at now. $4 and it was McCain who led the charge against it. Blaming Liberals for gas hikes? Are you serious? Aside from that. I saw a program on PBS about alternative fuel placements, and other options. It's going to take decades to transfer from oil, one we all can agree on an alternative fuel method. So don't get your hopes up. There was a problem in the 70's, and after, everyone turned a blind eye to the problem. Now it's biting us in the ass again, and we are waging war over it. Thanks to all the people that never tried to make a difference. Link to comment Share on other sites More sharing options...
Pb Derigable Posted May 24, 2008 Share Posted May 24, 2008 How about Bush make himself useful and use his well-known ties to the House of Saud, and pressure the Saudis to release more oil supply? He has, the saudis did release 300,000 more barrels two weeks ago. but even if they put out as much as they could, we don't have enough refiners working to drop the oil that much and countries like china would just hog it up. but yes the gas prices will go down, but not enough. Now critics may say why would Bush and his oil companies cronies want lower gas prices, well believe me, Bush is more concern about a Repub staying in office and his own popularity numbers, that I'm sure he'll do as much as he can to lower gas prices, which no president has the power to do much. Link to comment Share on other sites More sharing options...
Mattmc1973 Posted May 24, 2008 Share Posted May 24, 2008 Bush might be able to lobby and push OPEC for more supply, but he's blown all credibility and pull he has in the Middle East with the Iraq war, so this is what we get... Bottom line, with skyrocketing fuel prices and hence, the cost of living, what is the President doing about it? Nothing, that's what. Link to comment Share on other sites More sharing options...
Mattmc1973 Posted May 24, 2008 Share Posted May 24, 2008 He has, the saudis did release 300,000 more barrels two weeks ago. but even if they put out as much as they could, we don't have enough refiners working to drop the oil that much and countries like china would just hog it up. but yes the gas prices will go down, but not enough. Interesting, but don't know that 300,000 is enough to dent the problem... Link to comment Share on other sites More sharing options...
Pb Derigable Posted May 24, 2008 Share Posted May 24, 2008 It's a bigger problem than just the Anwar and refinery solutions. Even if we had started these options, they wouldn't have made much impact yet. The prices would probably be the same for now. It's the future there could be some relief by these actions. Lets just say Bush did get the anwar drilling and two refineries built starting in 2001. Lets just say worst case scenario it took 10 years to have everything at full production (probably takes 3 years if at all of actual building to build a refinery) Don't you think the people who speculate on oil prices will feel much better knowing in 3 years, you have 25% more oil and refining capacity. We should invest in alternative energy, but like you say, it will take decades to convert, IMHO as a union pipefitter who worked at 3 different refiners, will only take 5 years min. to see the effect. They pass the bill today, and gas will be cheaper on tuesday. Link to comment Share on other sites More sharing options...
Pb Derigable Posted May 24, 2008 Share Posted May 24, 2008 Bush might be able to lobby and push OPEC for more supply, but he's blown all credibility and pull he has in the Middle East with the Iraq war, so this is what we get... Bottom line, with skyrocketing fuel prices and hence, the cost of living, what is the President doing about it? Nothing, that's what. I don't think the saudis like Iraq as much, and im sure the people in the middle east are pissed at us for liberating iraq, but i think the people who are in control, care more about money, than anything else. Money talks bullshit walks Interesting, but don't know that 300,000 is enough to dent the problem... NO it doesn't, the best i could come up with numbers is OPEC saind in 2001 that they plan to realse 11 million a day in 2010. I don't know the numbers now. OPEC has said they have yet to not provide enough for world demand. Link to comment Share on other sites More sharing options...
kirchzep27 Posted May 24, 2008 Share Posted May 24, 2008 A few weeks ago my cousin was talking about "windfall profits" and how supposedly arrangements were made with this administration to bypass this, taxed profits etc. I dont know anything else about it, but the term sounds familiar from school somewhere, havent googled it yet. But basically you'd think there would be a cap, or some sort of control over the price, with supply and demand? I mean, its on the news, there are a significant amount of people who wont be driving this holiday weekend in the -us, because of gas prices. Link to comment Share on other sites More sharing options...
Juliet Posted May 24, 2008 Share Posted May 24, 2008 Hello: We have alot of taxes included in the price of gas in Canada...The head of the taxpayers association does not believe our Prime Minister cannot do anything about the price of gas... We have an election in Canada within the next year where I will make my feelings known through the ballot....Until then, I will boycott a certain gas station, cut back on entertainment and unnecessary costs and look into other major changes in my life that may include moving back to the city so I don't have to rely on a car.... Juliet PS I may also write a protest song with the title..Lower the price of gas, Mr. Prime Minister, if you want my vote in the next general election slated for October 09 if not sooner in the event you are defeated through a non-confidence vote. Link to comment Share on other sites More sharing options...
Mattmc1973 Posted May 24, 2008 Share Posted May 24, 2008 The oil companies deserve plenty of blame here, too. They're getting record windfall profits in all of this. It would be one thing if they continued to earn similar profits as before, because costs are up. If their gross revenue was up, but profits were flat because their net revenue was the same (more costs=more revenue, but profit same), that would be one thing. But as prices have gone up, so have their profits. So not only are their gross revenues up, but so are their net profits. Capitalism at its best, I suppose, and a conservative administration isn't going to meddle in that, especially when the whole crew are former oilmen themselves. But to sit on ever fatter profits, while the American people take up the ass isn't cool. Link to comment Share on other sites More sharing options...
Dzldoc Posted May 24, 2008 Share Posted May 24, 2008 Just wait matt only 8 days till the start of hurricane season, one storm in the gulf and watch out! Link to comment Share on other sites More sharing options...
Rock Action Posted May 24, 2008 Share Posted May 24, 2008 Just wait matt only 8 days till the start of hurricane season, one storm in the gulf and watch out! That's really fuckin' scary! And I think Matt sums it up nicely. Fucking oil companies are playing us like a trout. Link to comment Share on other sites More sharing options...
Hickory Man Posted May 24, 2008 Share Posted May 24, 2008 That's really fuckin' scary! And I think Matt sums it up nicely. Fucking oil companies are playing us like a trout. You said it! To think, a couple of years ago we were having a major shortage out here in the west (pipeline break from El paso) and prices skyrocketed to 4.oo a gallon. We also had to wait in line for it like it was 1973 all over again. Can't wait to see the size of the cack gets shoved up the consumers collective ass this time around. Mopeds all around! Link to comment Share on other sites More sharing options...
Virginia Posted May 24, 2008 Share Posted May 24, 2008 Tuesday evening, I paid $41 for half a tank of gas. This morning I paid $52 for somewhere between 1/2 and 3/4 tank. Link to comment Share on other sites More sharing options...
Now and Zen Posted May 24, 2008 Author Share Posted May 24, 2008 The oil companies deserve plenty of blame here, too. They're getting record windfall profits in all of this. It would be one thing if they continued to earn similar profits as before, because costs are up. If their gross revenue was up, but profits were flat because their net revenue was the same (more costs=more revenue, but profit same), that would be one thing. But as prices have gone up, so have their profits. So not only are their gross revenues up, but so are their net profits. Capitalism at its best, I suppose, and a conservative administration isn't going to meddle in that, especially when the whole crew are former oilmen themselves. But to sit on ever fatter profits, while the American people take up the ass isn't cool. And wasnt it yesterday or the day before that they were dragged in front of the politicians and called out? And of course they made it sound like it wasnt their fault. Surprize, surprize. Did anyone think the big wig from Exxon was going to fall on his sword? No way Jose! We are all suckers to a corrupt system. Our biggest problem is that we have no strength in numbers to fight them. No boycott type plans that worked many moons ago. No way to fight city hall as the old saying goes. We have the will, but we have no way to organize our motivation to take on the big guys and big brother. And it doesnt just apply to gas prices. We need another Jimmy Hoffa! Link to comment Share on other sites More sharing options...
Dzldoc Posted May 24, 2008 Share Posted May 24, 2008 And wasnt it yesterday or the day before that they were dragged in front of the politicians and called out? And of course they made it sound like it wasnt their fault. Surprize, surprize. Did anyone think the big wig from Exxon was going to fall on his sword? No way Jose! We are all suckers to a corrupt system. Our biggest problem is that we have no strength in numbers to fight them. No boycott type plans that worked many moons ago. No way to fight city hall as the old saying goes. We have the will, but we have no way to organize our motivation to take on the big guys and big brother. And it doesnt just apply to gas prices. We need another Jimmy Hoffa! There's already enough fertilizer in government Link to comment Share on other sites More sharing options...
Lake of Shadows Posted May 24, 2008 Share Posted May 24, 2008 I thought this was worth talking about as it affects all of us. I didnt see another thread dedicated to this alone, so if nobody minds Ill start one. If it is not wanted, then you can delete it. I have never in my life seen a local gas station raise the price of gas twice in one day as they did today. Not only twice, but three times! I bought $25 dollars this morning at $3.91 a gallonn and right now it is #3.97!. All of the other stations are over $4. This is no longer a problem, it is a catasrophy. What is going to happen? The idea of electrid cars taking people to work within a 30 mile limit is something to ponder. But new technology must come quickly. This America is the worst we have seen since the days of Viet Nam. Uncertainty of who should lead us, gas prices, violence, and keeping safe from terrorism, and more. And lets not forget that college educated people cant even find jobs. What about the poor folks that cant either afford college or get through it? It is time to push the panic button now and do something, before we wind up like a third world country. I will read your responses with much interest. I don't think it's time to hit a 'panic button'... but it IS time for people to pay attention and work to deal with the problems we have. People may have to get used to high gas prices and adjust their driving habits accordingly. Unfortunately, appropriate infrastructure needs to be in place or created, and that costs money... which usually means taxes, and that's anathema to a lot of folks. (It's all well and good to encourage the use of mass transit to cut down on driving, but that requires actually having mass transit available). It's a bigger problem than just the Anwar and refinery solutions. Even if we had started these options, they wouldn't have made much impact yet. The prices would probably be the same for now. It's the future there could be some relief by these actions. The gasoline companys now know we'll pay these prices so even with more supply, the prices will never lower much I'm sure. It sucks that we're so hooked on oil. And what about all the farm fields in fallow? Is the government STILL paying farmers NOT to sow these fields? Ethanol production's increase could be supplied by utilizing the fallowed pastures. I'm not sure there's much subsidizing of fallow fields these days. As I understand it, that applied to specific crops at specific times. In my area, a lot of farmers planted corn because demand for it went up. With our drought the corn crops failed... big-time failed. He has, the saudis did release 300,000 more barrels two weeks ago. but even if they put out as much as they could, we don't have enough refiners working to drop the oil that much and countries like china would just hog it up. but yes the gas prices will go down, but not enough. Oh the horror... only the US should hog up the oil supply! Now critics may say why would Bush and his oil companies cronies want lower gas prices, well believe me, Bush is more concern about a Repub staying in office and his own popularity numbers, that I'm sure he'll do as much as he can to lower gas prices, which no president has the power to do much. I kinda doubt Dubya cares that much about getting oil prices down. Keeping a Republican in the White House... yeah, I agree, I'm sure he does care about that. The oil companies deserve plenty of blame here, too. They're getting record windfall profits in all of this. It would be one thing if they continued to earn similar profits as before, because costs are up. If their gross revenue was up, but profits were flat because their net revenue was the same (more costs=more revenue, but profit same), that would be one thing. But as prices have gone up, so have their profits. So not only are their gross revenues up, but so are their net profits. Capitalism at its best, I suppose, and a conservative administration isn't going to meddle in that, especially when the whole crew are former oilmen themselves. But to sit on ever fatter profits, while the American people take up the ass isn't cool. Excellent summation. Meanwhile, pass the vaseline. Link to comment Share on other sites More sharing options...
DRUNK Posted May 24, 2008 Share Posted May 24, 2008 Oh the horror... only the US should hog up the oil supply! Meanwhile, pass the vaseline. So, everyone should be fair and equal in the world? Happy times! Right? Let's just let China have whatever oil they want! Listen LOS, do you like the quality of your life? This is about national preservation, and the USA needs to do whatever it has to do in order to sustain our way of living. Trust me, if we give an inch, the results won't be us "changing how much we drive". It will be far beyond that. Apparently you're used to using the vaseline........ And that's the problem nowadays. People are too stupid to realize what is actually going on, and they are too lazy to do anything about it even if they do. Link to comment Share on other sites More sharing options...
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