Gas Gas Gas

[Dave1983]

Its all about greed. The supply/demand, worldwide shortage, booming economy in China, all nothing more then a handy excuse. Record profits, thats all we need to know.

Funny, but Im sure you all recall how when the prices were up last fall, congress called the oil companies on the carpet? What happened? Yes, the prices dropped. They stayed down long enough for the congressional "heat" to dissapate and presto, the prices start inching back north.

Hmmmmm....

[EFD840]

Ok, some of you have pretty good arguments regarding worldwide supply & demand.....But one thing no one has touched on yet.......Why are the oil companies still claiming record profits? Once again, I kinda thought that the more you paid for raw (crude) materials, the less in profit you made?

Also, someone stated that the problem started with the Clinton presidency. I agree with this. I also agree that Bush has not done enough to control this. In fact, I feel betrayed by the United States Government over their handling (or lack thereof) of the oil prices.

Buff, I think you've got a right to feel betrayed. Congressional inaction on fuel costs is one of the best examples of bipartisanship I've ever seen. Neither party will take on the challenge. Sure, the dems will make a little racket every now and again about the current administration's ties to big oil but to steal a line from my younger days Where's the beef?. If I were guiding the Democratic party, high fuel costs would be my ticket back into control of the Congress. Who's getting hurt most? The middle class working guy who also happens to be the guy that votes and the guy that is keeping the house and senate under Republican control. I think deep down, liberal dems LIKE the high prices because it helps them push their environmental agenda and conservative dems (no jokes please, there are a few left) largely come from areas where the industry is big and therefore risk alienating their local support. The result is nobody does anything and prices keep climbing.

My question is, and I see it happen almost everyday at the gas station right across from my work, they will change the price of low grade gas, 3 times in a 24 hour period!!!!! What gives??? How can they do that? I know people will say its because when they pay more for gas, they have to raise the price for the consumer, okay I understand that, but I KNOW they don't get 3 deliveries in a day of the higher priced gas!!!!!!!!

That's a funnny one to me too. It is the rare station that won't up the prices on all grades when they only get a new shipment of the cheap stuff and its price increases. They might as well raise the price because otherwise people wouldn't know how to act.

Absoultely true story: In the immediate aftermath of Katrina, our area suffered a legitimate short term (less than a week, but it happened to be labor day weekend) supply crunch. There were few deliveries and the price was skyrocketing. Only one of our town's three stations had any fuel and as a result it was packed with customers. Our PD was down there working traffic and generally keeping an eye on things. Trying to be a good mayor, I walked down from town hall to check on the guys. While I was there, the price of 87 octane was raised from 2.69 a gallon to 2.99, but the price of 89 octane remained at 2.89. The line for the regular pump stretched for probably half a mile and the midgrade pump - now cheaper than regular - sat unused. As a group, we humans ain't always the sharpest tools in the shed.

[DaSharkie]

Remember that most of the gas stations are "independent contractors" of the major players like Exxon/Mobil, Citgo, BP, Chevron.........

The big wigs at the petroleum companies call the shots and they tell the gas stations what to charge.

I like the independent stations myself, but there are none around me so I have to buy at Sam's Club. The manager there is greedy and the pump prices are adjusted by station based on their "competition." So the difference may only be a few cents.

If I lived in a better spot I'd go to Kangaroo or Sheetz which tends to be better priced, but is about 8 miles away. Just not worth it.

[Peekay]

Not to argue that some gas stations gouge, the price of oil is not set by the oil companies, but based on world wide supply and demand. A barrel of oil costs the same as any other barrel of oil worldwide. If an oil company is smart they are drilling as many wells as they can right now and have all rigs pumping out as much as they can. Yeah they are milking the situation, but really you can't blame them for bringing a product to market that is in high demand.
The only ones we can blame, are ourselves for the high price of oil. The price of oil probably won't ever go down again, too many people need it. Hopefully some young genius will soon develop an alternative source of fuel for our cars. Oil is useful for so many other purposes other than auto fuel.

[NYSmokey]

The recently retired CEO of Exxon/Mobil left with a retirement package worth approximately $398 million! Exxon/Mobil will pay his country club fees (wonder how much they are). He will get to continue to use the corporate jet but he will have to pay for SOME of it. Tough life huh?

[RspctFrmCalgary]

This is insane .... I'm so glad I don't drive!

Went from 110.9 Monday night to 114.9 yesterday morning, then on the way home I saw 115.9 and heard of a possible 116.9 this morning on the radio

[PFire23]

All I have to say is ........ GRRRRRRRRRRRR Now I have to adjust my moving budget to reflect the gas prices *sigh*

[TCFire]

$2.94/gal this morning. I'd guessed $3 by the end of April, looks like it'll be $3 by the end of the WEEK. Gone up about 20 cents in a week. Should be a fun summer.

[RspctFrmCalgary]

$2.94/gal this morning. I'd guessed $3 by the end of April, looks like it'll be $3 by the end of the WEEK. Gone up about 20 cents in a week. Should be a fun summer.

Yup, up about 20 cents here in about (not aboot!) the past 2 weeks, I believe is the time-line. Monthly transit pass went up from $60 to $65 April 1st

[doughesson]

Kinda makes you wonder where all the folks saying we went to war in Iraq over oil are.I've long said that if we were there over dino-juice,we'd be getting gasoline allowances instead of paying for it and the Iraqis would be watching the sand dunes collapse as we sucked that country dry.Instead,we are trying to build new schools,oil pipelines and defending them while letting them build their own brand of democracy.If it works out,it won't be because the insurgents had anything to do with it.

[scfire86]

Folks. We live in a capitalist society. The price of gas is governed by the 'free' market.

Oil companies exist for one purpose. To fatten the bottom line. Their delicate dance involves trying to hike profitability in the short term without bankrupting the customer in the long term.

Anyone who thinks oil companies owe America cheap gas (or at least inexpensive gas) is....well...naive.

The primary mission is to keep the stock price in an arena that pleases current share holders and attracts new ones.

[scfire86]

Tony Snow blames high gas prices on Rumsfeld critics

[GeorgeWendtCFI]

If you want to know who to blame the high price of gas on, you only have to look in the mirror. That's right-you!

We would keep buying the stuff if it were $10 gallon and you all know it. so do the oil companies.

I do not want Congress to do anything. Sticking their noses into an unregualted private industry is not their job.

[scfire86]

If you want to know who to blame the high price of gas on, you only have to look in the mirror. That's right-you!

We would keep buying the stuff if it were $10 gallon and you all know it. so do the oil companies.

I do not want Congress to do anything. Sticking their noses into an unregualted private industry is not their job.

I hate to admit this. But I agree with Norm on this one.

I have to go lie down for a bit. I'll be back later when I am not woozy.

[RspctFrmCalgary]

THE END IS NEAR, THE END IS NEAR!!!!

hehehehe

Must be something in the water lately.

[FrFtr28]

I've been seeing more and more about using vegetable oil (or something to that fact) lately. Form what I understand it is hard on the engine, but you can go to the local fast food restaurant and get there used fryer oil to make your own gas.

[DeputyChiefGonzo]

Question: how many new refineries have been built in the US in the last 25 to 30 years?

Zilch. Zip. Zero. Nada. None.

Like it or not, our economy runs on oil. We need to use our resources effectively, search for it and then build the capacity to refine it... or risk becoming a third world nation.

[lvwrench]

I'm still looking for one of those DeLorean cars that you just put bananna peels, a little stale beer and some garbage into and it flies. I figure that we have enough wind, sun, geo-thermal and other alternative resources to power a lot of our industry off of but they won't develop or put it on the market until they can get their money back and that probably won't happen unless oil goes out of sight in price. I think I should buy farmland to grow corn and soybeans on or get a horse or bycycle; Naw like most I like my four wheels.

[ThNozzleman]

Kinda makes you wonder where all the folks saying we went to war in Iraq over oil are.I've long said that if we were there over dino-juice,we'd be getting gasoline allowances instead of paying for it and the Iraqis would be watching the sand dunes collapse as we sucked that country dry.Instead,we are trying to build new schools,oil pipelines and defending them while letting them build their own brand of democracy.If it works out,it won't be because the insurgents had anything to do with it.

They went to control it, not sell it dirt-cheap. Interesting how you threw in "oil pipelines" with "building new schools" though. I don't remember either being presented as a reason to invade Iraq.

Like it or not, our economy runs on oil. We need to use our resources effectively, search for it and then build the capacity to refine it... or risk becoming a third world nation.

Part of the problem. Plenty of oil available to us, but very expensive to extract. The oil in Iraq is much, much cheaper to access and process.

The only ones we can blame, are ourselves for the high price of oil.

Not exactly. The lack of real alternatives and competition are the problems. If the dairy farmers decided to play this game with milk, we'd just drink more juice or water, perhaps. Blaming ourselves for something we can't control is silly...and it wouldn't matter what we drove. It's all about the money, of course. They don't want any viable alternatives to be available, so long as they have that precious black stuff to sell. I think they are just making a killing while they can, regardless of who suffers.
I for one am glad I only live a half-block from the station...but it's really hard to wind out the ol' GT in such a short distance. I guess I'll go buy a used Toyota to teach those oil guys a lesson.

[ThNozzleman]

I'm still looking for one of those DeLorean cars that you just put bananna peels, a little stale beer and some garbage into and it flies.

What is this "stale beer" you speak of??