Fuel Prices got you down?

[DennyDay]

Here's a thought for OPEC - - -



Lets see, y'all are getting $116. 00/bbl for crude oil, so you can afford $116. 00 for each bushel of wheat we send you, and $116. 00 for corn etc.



Don't 'cha think that would be fair?



Come on congress - - Drill ANWAR and put a leash on the EPA - - they are killin' us!



Denny

 

[Tractorat]

You and I are sure on the same page as far as drilling in ANWR. However, I dont think that supply of oil would ever affect the price of gas and diesel. As long as oil is priced by the speculators on wall street, and Alaska etc is allowed to sell oil at the world price, the price of oil will never come down.



We need to 1. Have our domestic oil priced at reasonable levels (I think $50 or less), and 2. Somehow (and I sure dont know how) fix the way the world oil market is priced so that it actually reflects supply and demand, rather that an Enron style "lets run up the price as far as we can no matter what" way of pricing oil



Just my 2 cents.



TRat

 

[DennyDay]

That was really worth about 6. 5 cents ! ! ! But I still would like to see how much wheat can be grown in the Saudi Desert. Are you hungry Saudi?



Denny

 

[DavidC]

I would think that food products should be double of what a barrel of petroleum products are. If you cannot afford it get out the wine glasses and sip some crude. Life may be hard without oil but it really gets rough with out food. Of course some may think this is cruel and unusual, I am not one of those.



Dave

 

[RGardner]

We are rapidly approaching the time when some people are going to have to decide between fuel or food and that is not a happy thought.

 

[MarkStevenson]

big oil inthe U.S.A

You think the Middle East is to blame for $120. 00 a barrel

Just look at the big oil companies here in the U. S. A like Exxon Mobil



ExxonMobil Corp. posted a $10. 9 billion first-quarter profit Thursday, up 17 percent from the same quarter a year ago.

The Dallas-based oil giant had first-quarter revenue of $116. 8 billion, compared with $87. 2 billion a year earlier.

Still, the record profits and earnings per share ($2. 03 for the first quarter vs. $1. 62 for first-quarter 2007) were lower than Wall Street expected. ExxonMobil (NYSE: XOM) saw its stock drop Thursday in response to missing analysts' estimates.

 

[Tractorat]

Well, I dont think its the middle east that is to blame. I heard on the radio the other day that they were happy to let the price go up because the Saudi's are mad that we invaded Iraq. They said we were after their oil. (so where is this oil we were after ?)



The big blame goes to wall street and the speculators, and how oil is sold on the commodities market. If that isnt fixed fast, we'll all be streaming across the border to Mexico for jobs.

 

[JesseJ]

Take a look at more than just how much their profit was! #@$%!I cringe every time I hear or see someone mad at the oil companies for their "record profits"! #@$%! Do you have any idea what the average profit margin is for "big oil"? 8%. That's right, 8%. They don't make a lot of money off of their product, they just sell a ton of it! Why aren't you mad at "big farm" and "big fertilizer" and "big ethanol" whose profit margins have increased 50, 100, 500, 1000%?! Just because their profit was millions, not billions, nobody says anything when in reality their profit margin is ridiculously high and a lot higher than oil companies! Wake up! Look at the whole story! Not just what the biased media gives you! BP made $9 Billion last quarter, BUT profit margin was only 7. 5%! They just sell 120million gallons of product a day! On top of that, of the $9 Billion they made last quarter, they reinvested $7. 5 Billion into infrastructure, drilling, exploration, etc. Do you honestly think if we have a windfall profit tax on oil companies it will bring the price down? Who is going to go find the oil, pump it out of the ground and refine it if "big oil" doesn't?! Also, people still don't seem to understand the fact that corporations don't pay taxes. They pass that price on to the consumer. Oil companies are not going to use what little profit margin they have to pay more taxes than they already do now, they'll just pass it on to the consumer and you and I end up getting screwed again!

 

[Tractorat]

I agree to a point that 97% of the problem does not lie with the oil companies. (However, even when prices were low, you could drive a half a mile and find a 20cent diff or more in price because of zoning) As I stated above, and as I think even the media has come to understand, is that the cause of the spiking of gas and diesel has to do with speculators on wall street. And manipulation of prices by, not only the speculators, but folks like our buddy Chavez down in Venezuela. All he has to do is say "the Americans are coming to get me", and the price goes up $3.



However, I think your analogy of oil vs big pharma is incorrect. Not that Im excusing big pharma for their enormous profits that make it cost prohibitive for a lot of people to purchase live saving medicine. But, the reason big pharma is able to get the margins that they do is because they periodically come out with better and better products that do more and more. They are bringing new products to the market, and people can chose between an older product that sort of works, and the new more expensive product that may work better. If the cost difference doesn't make up for the new benefit, competition works and the price will come down.



Oil is a commodity. It is made into the same gas and diesel that was made 20 years ago. It has not been improved, and does not offer any additional benefits. Except for maybe the brand new 2007+ diesels, you can run your car or truck on the same product that was available 20 years ago, with no increased benefit to what is delivered today.



If you use the oil industry for a model, you might be paying $10 for an aspirin right now.



Just my 2cents.

 

[DennyDay]

Go to the hospital and if you are paying for your stay (not welfare,not illegal alien) you will pay $10. 00 for an asprin



Denny

 

[Tractorat]

If you are only paying $10/aspirin at a hospital, you are getting a deal

 

[Dieselnut59]

We are rapidly approaching the time when some people are going to have to decide between fuel or food and that is not a happy thought.

Unfortunately, many of those people are also the ones who complain about fuel prices, while driving a Escalade (and making payments on it) with 22" wheels, talking on the cell phone, listening to satellite radio, watching cable TV and connecting to the web via high speed internet in their air conditioned, way bigger than they need or can afford house. Just look around at all of what these people have, yet want to complain instead of sacrifice some of the "luxuries" instead of fussing about how much fuel costs to feed their 12 mpg beast! Chances are, they also have multiple children when they could not afford the first one and they smoke cigarettes (or other things!) and drink alcohol.

If it really came down to it, people would give up the frills to take care of the necessities. Or some just turn and fuss to the government to "do something about" the price of oil.

 

[JesseJ]

I'm with Dieselnut. You should run for office! Except I take offense to the part about smokers. :-laf

 

[Dieselnut59]

I'm with Dieselnut. You should run for office! Except I take offense to the part about smokers. :-laf

I have considered it on a local level!

I have no problem with someone smoking, as long as they do it where it does not affect anyone else's right not to have to breathe it and if you take care of its consequences yourself, instead of turning to the government (taxpayers) for your healthcare when/if you get cancer or heart trouble, etc. And, as long as you don't fuss about "not being able to afford" food or fuel, yet always have cigarettes. When trouble times hit, give up the frills and luxuries and take care of the necessities. It is about individual responsibility, not government dependency.

 

[JesseJ]

Amen! Preach it brother! Nebraska just passed a state wide indoor smoking ban anyways, I think it's about time I give it up. The sad part is, I can buy a pack of cigarettes cheaper than a gallon of gas or diesel!

 

[JOdell]

dn59 You hit that right out of the park. people can complain all the want but won't give up those things they really don't "need". I have changed my habbits, I used to stop every morning on my way to work for a cup of Coffee. Not anymore so I am not spending that $5 a week. Then I bought a pair of clippers so my wife cuts my hair every 2 weeks. That makes $32 a month there. So it can be done. If things get really bad then I will look at other things to get rid off. I WILL NEVER ASK THE GOVERNMENT TO HELP ME. It is my job to take care of me & my family. -Jason

 

[JesseJ]

I agree with you Jason. If it comes down to it, I'll do whatever I have to, to support my family. I don't care if it's flipping burgers at McD's to make ends meet, I'm not going to give up and just expect the government to take care of things for me.

 

[JLitton]

guys, I hear what you are saying about giving up life's perks. However, I work hard to have what I do I work even harder to provide the things my wife and little girl want. I just filled up my truck and it cost me $117. 00! $117. 00 and I was on a quarter tank.



I work hard to live a good life and if the prices stay where they are at, then all my work is to pay for fuel to get me back to work. I don't know what the answer is. I wish I did. (so do alot of people)



All I do know is, that something is going to have to change. Imagine the families that are working for low paying jobs and have to work for an entire day's pay just to fill up their tank to get back and forth to work. I pray for them. This is going to cause some good people to begin doing bad things because they can't afford to provide for their families.

 

[Tractorat]

I just dont think the rich elite (rep and dem) people in government have been listening to what is going on. They should have been paying attention a couple of years ago. This is a serious situation. We are not talking recession, we are talking full blown depression. Its not just people with Dodge diesel pickup trucks that are getting slammed. Everyone is, and it is destroying the quality of life, and maybe even the ability to survive in this country.



Where is the leadership of the United States internationally ? Everyone knows that supply and demand forces became very triviel a couple of years ago. The only thing that will save us is changing the way the world price of oil is set.



We are in a defacto state of war against the speculators, as well as OPEC. If something isnt done to turn this around yesterday, there will be untold dire consequences. I really never expected to hear this come from out of my mouth. But are the seeds of a revolution brewing in this country ?



Just my 2cents. That, and $4 will get you a gal of milk at QFC.



TRat

 

[TboneMan]

"Revolution"??!!



Come on now. Europe and most other places in the world have been (and still are) paying twice what we do for fuel.



What do they do... ? They walk places, ride their bicycles, drive small vehicles, take public transportation. No wonder they weight far less on average than us "fat" Americans.



Here's my predictions:



1) We will see a rise in (return to) community based resources. The small mom/pop grocery, hardware, shoe/clothing stores. Places you can walk/bike to or a much shorter drive than getting to the MEGA store/malls.



2) Public transportation will become more important (again a return to the past).



3) People will "right size" there homes and vehicles.



4) Fuels/gasoline based "entertainment" (e. g. ,snowmobiles, boats, ATV's) will become things of the past.





Sure it is going to hurt for while the economy adjusts. We need to stop crying about and do something about (and the gov. is not the answer, they are a significant problem).