Gas Prices

[Admin]

Hmm how about this idea as consumers we unite... Oil companys are taking advantage of the current events in the world and the higher consumption.. but we still have the power...


All of North America picks an oil company.. say Shell and we put them out of business as an example... How..... no one ever buys another drop of gas from them ever.. And one day a week we all protest by stopping the country.. Everyone stay home every Wed dont go to work and dont spend a penny... Money makes the world go around and average Joe citizen collectively controlls most of it....

After we put shell out of business we say the price we are willing to pay for the product.. ( A fair price not enflatedby greed)

Abolish all government and have everything run by the people... everynight you sit down at your computer and Vote... Do we buy those new tanks.... Do we spend 100 dollars on a Hammer.... Do we give ACME INC... that huge tax break... Do we send more troops to Iraq.... Do we Give that bank a billion dollars to bail them out due to their greed in sub prime lending.......



I wonder if they would listen then?

 

[wrightme43]

OK, I believe that in the next 4-5 years the price of a 42 gallon barrel will be at or near 200.00 dollars. I also believe that if the nations of China and India continue their current trends in the next ten years they will be at or near a consumption level currently found by the rest of the world alone. I would agree with anyone that suggests the US begin coal to oil production as a relief mechanism. I would also agree that solar and wind are not suitable substitutes because they are not consistent. I would agree that building new refineries and nuclear power plants is necessary but their respective ability to help is years away if construction begins now. I believe windfall profits are a reality and controls for this should be put into action much like those found in the energy realm. I believe drilling in ANWR, Florida and California are necessary and they can be done in an environmentally sound manner. I believe Congress and the Senate better get their proverbial act together before a number of them are out of a job......

BTW, gas will be at $5.00 per gallon in the US by December.....

Pretty dead on.
I was involved in the oil industry, and studied it like I do everything that interests me.
5.00$ gas is coming. Right now the price is speculation and inflated. BUT BUT BUT the last 50$ a barrell oil was pumped already. If we see 200$ it will be more speculation than real supply demand pricing.

Solar and Wind receive HUGE HUGE HUGE subsidies and are still not a profitable way to produce energy. Solar sounds great BUT it only works part of the day. Then it has to be backed up by coal or nuclear or hydro or NG. Those plants cant just come online when they are needed. They have to be there, they have to be supplied, and they cant make a profit sitting and waiting. They need to run.

Global earth day where they shut off the power. Did the plants shut down? NOPE the power was just Earthed.

The answer is not simple. I dont know what it is. I believe we are at (past really) the point where it is important to drill for oil here. If its 50$ a barrel buy it. It makes sense. 100$ or more. At least that money should be spent to buy oil produced from US, Canada, Mexico.

Without efficent energy generation, transmission, and supply, our countries will fail.

I know this may sound off topic but its really not.
A major factor why Germany and Japan lost WWII was due to a loss of energy supply and manufacturing capability. We are just giving our ability away.

 

[menace0710]

I dont understand why you guys are complaining! Your about to reach the same price for gas that we were paying before the prices started to go up! $5/gallon works out about just under £0.60/ litre Thats the price we were paying for gas 10 years ago. Now the price is reaching £1.20/litre there are 4.54 litres in a gallon so thats £5.44/ gallon. Times that by just under two and were paying over double as to what you pay. So whos got it bad? $5 / gallon or $10 I wish our fuel was so cheap!

 

[brad81987]

I dont understand why you guys are complaining! Your about to reach the same price for gas that we were paying before the prices started to go up! $5/gallon works out about just under £0.60/ litre Thats the price we were paying for gas 10 years ago. Now the price is reaching £1.20/litre there are 4.54 litres in a gallon so thats £5.44/ gallon. Times that by just under two and were paying over double as to what you pay. So whos got it bad? $5 / gallon or $10 I wish our fuel was so cheap!

It's a matter of lifestyle. We're used to the way it used to be, just as you were. Americans have been use to cheap energy for a long time, and it's what's biting us in the @$$ right now. We bought big trucks and SUVs to commute many many miles to work because we could afford to. We built huge energy hogging houses because electricity and natural gas for heating and cooling were cheap. Now everything is changing. Every source of energy is going to increase in price. Oil products already have, we see it most directly in the cost of gas. Electricity costs will rise- some powerplants burn oil and natural gas to make electricity. Coal fired plants have to get the coal shipped in, that uses gas. The era of cheap energy as we knew it is over. Things have to change. My personal opinion is nuclear is the way of the future as far as electricity goes but too many people are naieve about it and immedetly shy away.

 

[HavBlue]

The attached will give you folks an insight to crude over a wide range of economic history. The problems associated with crude oil pricing a very complex and for those living in the US, you can thank those nice folks on Capitol Hill for making some really bad choices about 35 years ago that while good in the short term were bad in the long term.

History and Analysis -Crude Oil Prices

 

[tom5796]

Hmm how about this idea as consumers we unite... Oil companys are taking advantage of the current events in the world and the higher consumption..

Y'all aren't really buying into this "windfall profits" thing are you? Yes, ExxonMobil's $40B in profit seems like a lot. But it's on revenue of $404B!!!! That's only 10% net profit folks. Additionally, much of the $40B in profit is from non-gasoline related activities.

Let's compare this profit margin to some other well known companies in 2007...

GE: 12.7%
Microsoft: 27%
IBM: 10.5%
Procter & Gamble: 13%
AT&T: 10%
Mastercard: 25%

Don't get caught up in the political rhetoric. It's a misdirection so that the tax applied to each gallon is not targeted by the public. Every single gallon is taxed about $.50 by the fed (.18) and your state (~.32 average); more than any profit/gallon the oil companies make. Much more.

Not to mention ExxonMobil paid $30B in tax last year.

 

[tom5796]

The attached will give you folks an insight to crude over a wide range of economic history. The problems associated with crude oil pricing a very complex and for those living in the US, you can thank those nice folks on Capitol Hill for making some really bad choices about 35 years ago that while good in the short term were bad in the long term.

History and Analysis -Crude Oil Prices

That's a very cool report. Going to have to settle down with a beer and go over it this weekend some time. :thumbup:

 

[HavBlue]

That's a very cool report. Going to have to settle down with a beer and go over it this weekend some time. :thumbup:

It puts things into proper perspective. I loved it when one of the Oil CEO's told the Senate the other day, you folks want to talk about windfall profits, look around you, look at yourselves because the tax you place on a gallon of gas is for little or nothing and that's a windfall.

 

[jamesfz6]

I just payed $3.97 a gallon to fill up my truck.......

 

[DefyInertia]

I just payed $3.97 a gallon to fill up my truck.......

$4.50 for regular in Cook County (Chicago+) although you can find it for around $4.25 in some places and it's under $4 outside of Cook County.

 

[stevesnj]

Source Why gas in the U.S. is so cheap - May. 1, 2008

Bogged down

Most expensive places to buy gas

Rank Country Price/gal
1. Eritrea $9.58
2. Norway $8.73
3. United Kingdom $8.38
4. Netherlands $8.37
5. Monaco $8.31
6. Iceland $8.28
7. Belgium $8.22
8. France $8.07
9. Germany $7.86
10. Portugal $7.84
108. United States $3.45

Cruisin'

Where gasoline is cheapest

Rank Country Price/gal
1. Venezuela 12 cents
2. Iran 40 cents
3. Saudi Arabia 45 cents
4. Libya 50 cents
5. Swaziland 54 cents
6. Qatar 73 cents
7. Bahrain 81 cents
8. Egypt 89 cents
9. Kuwait 90 cents
10. Seychelles 98 cents
44. United States $3.45

 

[cv_rider]

Y'all aren't really buying into this "windfall profits" thing are you? Yes, ExxonMobil's $40B in profit seems like a lot. But it's on revenue of $404B!!!! That's only 10% net profit folks. Additionally, much of the $40B in profit is from non-gasoline related activities.

Let's compare this profit margin to some other well known companies in 2007...

GE: 12.7%
Microsoft: 27%
IBM: 10.5%
Procter & Gamble: 13%
AT&T: 10%
Mastercard: 25%

Don't get caught up in the political rhetoric. It's a misdirection so that the tax applied to each gallon is not targeted by the public. Every single gallon is taxed about $.50 by the fed (.18) and your state (~.32 average); more than any profit/gallon the oil companies make. Much more.

Not to mention ExxonMobil paid $30B in tax last year.

I tend to agree with Tom. Weird taxation distorts the natural efficiency of the market. Windfall taxes reduce the incentive and available cash for the oil companies to invest in new technologies. The pledged gas tax holiday proposed by two of the three US Prez candidates distorts the market too. It rewards MORE consumption. Obviously moving in the wrong direction. I respect Obama for crediting us voters with enough intelligence to know that a minor little tax giveway is nothing more than a wrong-headed gimmick. We can't legislate our way out of this problem. It's time for us to start getting used to high prices and selling our SUVs. I just saw an article that used Geo econoboxes are increasing in value even though they are 10+ yrs old because they get 40+ mpg and don't have expensive technology on board so they're cheap. THAT is the market working.

 

[HavBlue]

Y'all aren't really buying into this "windfall profits" thing are you? Yes, ExxonMobil's $40B in profit seems like a lot. But it's on revenue of $404B!!!! That's only 10% net profit folks. Additionally, much of the $40B in profit is from non-gasoline related activities.

Let's compare this profit margin to some other well known companies in 2007...

GE: 12.7%
Microsoft: 27%
IBM: 10.5%
Procter & Gamble: 13%
AT&T: 10%
Mastercard: 25%

Don't get caught up in the political rhetoric. It's a misdirection so that the tax applied to each gallon is not targeted by the public. Every single gallon is taxed about $.50 by the fed (.18) and your state (~.32 average); more than any profit/gallon the oil companies make. Much more.

Not to mention ExxonMobil paid $30B in tax last year.

First, I want to see the books. Exxon Mobil has been buying back stock and this can be shown as an expense when in reality it is generating an asset. 51% of that barrel of crude is turned into gas. In 2007 they set numerous records and reported a 14% net income gain; not profit, income.. In effect, they made $1,287 for every second of 2007.

It is suggested the maximum world output for crude oil is 85 million barrels a day however, our current world demand is 87 million barrels a day. So demand is greater than supply and this leaves the consumer in a very bad position.

 

[ToddB5150]

There is not shortage of Oil or fuel. 60% of the rise in cost is due to speculative trading. Unless you are a "Greenie" then oil will run out tomorrow, Global warming will kill us all next week, and it's all George Bush's fault...!

 

[HavBlue]

There is not shortage of Oil or fuel. 60% of the rise in cost is due to speculative trading. Unless you are a "Greenie" then oil will run out tomorrow, Global warming will kill us all next week, and it's all George Bush's fault...!

True, there is no shortage of crude. Now, let me give you a little history lesson, in the 1970's Brazil was basically poverty stricken so they had a massive investment in sugar based ethanol. The United States put this off and did very little research into alternative fuels. Then, when OPEC chocked the Carter administration, which lead to the oil embargo and huge gas lines of the mid 70's plenty was said about weaning us off foreign oil but again, nothing was done about it. Following this, Presidents Reagan, Bush (the elder), Clinton and now Bush (the younger) all did little.

At present, American liberals will not allow new drilling, refuse to allow the building of new refineries or nuclear power plants while their conservative counterparts refuse to mandate vehicle fuel efficiency, tighter controls on commodity speculators and much stricter controls on oversight within the American oil companies that are literally exploding world tension. So, lets take this down to a reality in that "we the people" have also failed in that we refuse to cut down on our energy consumption levels and use of other energy resources.

As recent as 2 or 3 years ago we thought corn based ethanol was the end all answer. This in effect was a really bad idea and one should be careful what you wish for because converting corn to fuel has literally caused food prices to rocket. As it turns out, corn is used to feed livestock so when the price of corn goes up so too does the price of beef and poultry. In the meantime, that once poor country of Brazil would love to sell the United States sugar based ethanol but Congress, "not the President" has imposed a tariff on this commodity in an effort to assist the American farmer; go figure.

In a nutshell, there is little we can do to OPEC as long as China, India and other building nations are willing to pay what the market will bear. So, here in the United States we are faced with a limited few options; most of which involves cutting demand. If we don't, our enemies along with greedy traders both American and abroad will drive oil prices so high a world wide depression will occur. In case you haven't figured it out by now, this is exactly what the terrorist groups would love to see on the horizon.