Well Just MY Two cents worth...
Since OPEC sets the price of oil _ would it not be better to boycott their oil for a whole month instead of all of the oil for a day? Seems to me if we hurt the importers of OPEC oil that they should lower their prices and force the whole market down... Oh ya we can also do this with our gas vehicles also... ... We just need everyone in the US to participate...
Here is the text from an e-mail I got back in the middle of March
These companies import Middle Eastern oil:
Shell... ... ... ... ... ... ... ... ... 205,742,000 barrels
Chevron/Texaco... ... ... 144,332,000 barrels
Exxon /Mobil... ... ... ..... 130,082,000 barrels
Marathon/Speedway. . 117,740,000 barrels
Amoco... ... ... ... ... ... ... ..... 62,231,000 barrels
Citgo< /B> Gas comes from South America, from a Dictator who hates Americans.
Do the math at $30/barrel, these imports amount to over $18 BILLION! Some of the Citgo's are being renamed to Petro PlusThe latest price is a record high $111. 00 / barrel !
Here are some large companies that
DO NOT import Middle Eastern oil:
Sunoco... ... ... ... ... . 0 barrels
Conoco... ... ... ... ... . 0 barrels
Sinclair... ... ... ... ... . 0 barrels
BP/Phillips... ... ... . 0 barrels
Hess... ... ... ... ... ... ... 0 barrels
ARC0. ... ... ... ... ... 0 barrels
Also: Pilot, Flying J, Love's, RaceTrac, Valero
All of this information is available from the Department of Energy
and each is required to state where they get their oil and how much they are importing.
Dave
With all due respect, after reading that I am due about . 01999 in change.
OPEC producing countries only provide appx 25% of the US oil supply. That info from the email has been floating around for years and is basically useless information. If nothing else tells you that the price quoted of $30bbl sure should. Everyone has their conspiricy theories on the price of fuel, from "big oil greed" to crooked government. Fact is fuel/oil is a worldwide commodity and is a very complex issue with no "one size fit's all" solution.
Keep in mind, the first time oil went over $100 barrel a couple months ago it was because of an over-ambitous trader. What else has happened the last few years as oil & fuel have skyrocketed... we the american consumer are feeding the tremendous economic growth in China and Inda (to mention a couple), thereby causing a tremendous growth in demand for fuel, especially diesel. Might be able to "blame" the epa a bit for the new ULSD fuel. When LSD was produced the US was really the only market for the fuel, we had that inventory to ourselves. Now with the advent of ULSD it can now easily be blended to meet European (and other) standards of 10ppm fuel, and now we export refined diesel overseas. We will no longer see a surplus of diesel fuel now that our supply is open to the world market, which happends to coincide with the tremendous growth of diesel fuel demand in the world market.
On top of that we have a tremendously weakening dollar, which has sent all comodities through the roof. Look at the price of gold now, verging on $1000oz.
This is a much more complex issue than "big oil greed" and government (or lack of) control. Think big oil profits are out of hand, you better read all of the financial reports because a simple figure of $100B profit doesn't mean squat until you digest the rest of the picture. Even at these high profit DOLLARS, they are still operating at appx 10% gross profit margin, which is hardly out of hand. These high profit dollars are driven by huge demand and volume from what is the worlds largest corporation/employer (in the case of Exxon/Mobile).
Do I like the high prices of fuel today? Nope! Is there something we can do about it? Probably, but takes more effort than a truckers strike that would more likely raise the cost of other goods by limiting supply. It will take more than "lip service" complaining about issues that may or may not be part of the issue (government or big oil). Could big oil do more, perhaps, I am not saying they could not do more to help. Could we do more that will involve more personal sacrifice, you bet! Stop buying imported goods to help stop the feeding of foreign economies, i. e. Walmart, of which Walmart goods from China accounts for 14% of our national deficit. Ahhh, but to us Americans we want, want, and want more... we NEED all the latest electronic gadgets and whatever else is hot so we have to shop at Walmart to buy cheap products so we can get more more more.
I am certainly not pointing this to everyone, as I well know that is not the case, especially the population here on TDR, but American's as a whole have gotten very spoiled in our demands for the biggest house (see current mortgage crises), best electronics, and need for everything else. To anyone that I know that travels outside the US that has become glaringly obvious compared to most other parts of the world.
Wow, kind of a long winded reply here so I will stop and let the flaming begin!
(No offense intended to anyone here, just some observations that I and people I know see in the current state of events)