2nd Gen Non-Engine/Transmission Well fuel is headed towards $5

[ESwartzer]

Its not the oil companies!

The oil companies make between 7 and 11 cents per gallon and put the oil on the market somewhere in the 1 to 1. 50 per gallon range. The problem is that fuel is immediatley bought up by speculators who jack the price up as high as the economy can take and reap the profits. To be fair the government both state and federal makes many times the profit per gallon of fuel that the oil companies ever see through tax gouging at the pump. So if we're going to complain about prices lets understand who the guilty parties really are!

 

[Quilbilly brian]

the oil companies are not going to flood the market with oil for patriotic reasons or to help Americans have cheaper gas and diesel. Every day that goes by there is less oil world wide and we are being outbid as ESwartzer stated by commodity brokers and by demand from China and India. If you lessen the taxes placed on oil by States and Federal govermernts you will have less money for maintaing our highway system. It sounds so easy to say if we drill more and have more we will pay less. . Maybe 30 years ago that might be true before Chinas economy took off thanks to Amreican corporations and Europe's going to China for cheap labor.
Think it through. . Oil will never be cheaper and hey I remember paying 65 cents for gas so whats your point...
Lets use our Agriculture to grow bio-diesel for our POV diesel trucks and use Natural gas for commercial transportation and rebuild our rail road infrastructure that was torn down by big oil and the big three auto makers in the 50s

 

[RustyJC]

Oil will never come down due to supply and demand.

Actually, it did as recently as 2008. When the world economy crashed, crude oil fell from $150+/bbl to just over $30/bbl. Why? The recession resulted in a huge drop in demand. As the economy has recovered and demand has increased, oil has come back to $90/bbl. How can one think that supply and demand play no part in pricing??



Rusty

 

[tempforce]

part of it is demand.

we stopped drilling enough, a long time ago.

(both coast and the gulf around florida are all off limits, as is most of alaska).

plus we are printing money like germany after ww1.

our money is almost 40%, of what it was worth 15 years ago.

why do you think gold. is worth so much...

just do what you can to change the policies of our country.

drill, use coal to oil, have a balanced budget, and pay off the debt.

and don't forget to use all other methods of making energy.

 

[CurtLee]

Supply and demand have a huge role in prices. We all know that our economy cannot support a $5 a gallon world, especially right now. Rusty made a great point, everything crashed in 2008, including fuel prices. I remember before fuel prices crashed that $100 wouldn't fill my truck up. I remember not being able to travel as much as much as we wanted because of it.



I'm a truck driver and when the economy tanked in '08 I sat and watch as the bigger companies took over the smaller, less successful ones just to stay in business. Our economy is built on diesel fuel prices, when they go up, so does everything else.



Just my 2 cents

 

[Tractorat]

As the economy has recovered and demand has increased, oil has come back to $90/bbl. How can one think that supply and demand play no part

Im not sure that the economy has recovered. As far as increased demand. This may be just in wash state. But its my understanding that we are using less oil/gas than we were even a year ago.

 

[RustyJC]

Yes, the economy has recovered somewhat from the lows it hit in 2008. It's still not back to its peak, but it is certainly above its low water point.



We're in a global economy. World demand is indeed higher than it was in 2008 at the worst of the recession.



Rusty

 

[tempforce]

i've heard that lots of the storage tanks are full.
i know cali is . 50 more than az. due to higher taxes.
so i agree that the gov. makes more than the oil companies, off each gallon.

 

[Tractorat]

Yes, the economy has recovered somewhat from the lows it hit in 2008. It's still not back to its peak, but it is certainly above its low water point.

The economy may be above its low water point. But, the jobs arnt coming back. At least not here in Washington.



We get all of our oil from Alaska. And I dont believe they ship it anywhere else. Demand is down in Washington, so it is down for the suppliers in Alaska.

 

[CBlack]

Hmm, I guess that the gubmint should just nationalize the oil companies and give us free fuel?

There is a lot more to the price of oil and gas than the big, bad oil companies "raising" their prices to screw us.

 

[RustyJC]

The economy may be above its low water point. But, the jobs arnt coming back. At least not here in Washington.

We're not talking about jobs. We're talking about demand for crude oil and petroleum products.

We get all of our oil from Alaska. And I dont believe they ship it anywhere else. Demand is down in Washington, so it is down for the suppliers in Alaska.

HERE are the facts, straight from the U. S. Government's Energy Information Administration. Alaskan crude goes to places other than Washington. Please note also in the article I cited that Alaskan supplies are dropping like a rock as the Prudhoe Bay field plays out (oops, there's that supply and demand factor again. Sorry. )



Rusty

 

[bheiting]

We were vacationing in Canada in 2008 during the last oil price spike - $6. 50/gal equivalent or $200 to fill up. At least the camper gave us a cheap roof over our heads at night. Most of the Canadian difference is taxes. Think of our neighbors to the north when you're crying in your soup.

 

[Skydiver]

Yes, gas is going to $ 5. 00 per gallon and corn is record high. I will drive an extra 5 miles to avoid an ethanol enhanced gas for my daily driver.
Better buy your beef and fill the freezer. Bison has hit $ 8. 00 lb.

 

[BIGNASTY]

This happens every year and people run around yelling the sky is falling the sky is falling

 

[macdaddy]

Come On!!!

Gentlemen... .



Common economics. By the end of 2008 the world crude consumption showed a reduction of 1/3 that of 2006. Hmmmmm!



Could that be from the world economic downturn, or did everyone suddenly decide to go green?:-laf



Sooner or later the world economy will recover and we will be right back where we were. And with America basically having no energy policy what so ever, this all equals hmmmmmmmm, Prices at 5 bones a gallon.



That was tough!!!!



Mac

 

[Tractorat]

HERE are the facts, straight from the U. S. Government's Energy Information Administration. Alaskan crude goes to places other than Washington. Please note also in the article I cited that Alaskan supplies are dropping like a rock as the Prudhoe Bay field plays out (oops, there's that supply and demand factor again. Sorry. )

I stand corrected. As I said, I "believe" it all goes to Washington, not that it DOES all go to Washington. However, I "believe" that it USED to be the case that all Alaska oil went to the US, but that policy was changed at some point.

 

[AMink]

Diesel went from about $3. 24 to $3. 35 in two days in the Reno/Fernley/Fallon area. Like I said, as soon as the "potential" of hitting $5. 00, or $4. 00, is put in print, the prices react immediately. Not so fast is when the word comes out that fuel prices will drop.

 

[CBlack]

RIGZONE - Oil Industry's Spending to Rise in Hunt for Energy

*snip*

From giants Saudi Aramco and Exxon Mobil Corp. to five-person wildcat outfits, the industry plans to spend nearly a half-trillion dollars next year to find and extract oil and natural gas, according to a new survey by investment bank Barclays Capital.

*snip*

The largest producers, a club that includes Exxon, Royal Dutch Shell PLC, Chevron Corp. and BP PLC, are expected to increase spending by 16% to $108. 6 billion, according to Barclays. A decade ago, these companies were slow to ramp up spending after an oil-price slump and ended up paying more for drilling rigs and other services. This time, they appear committed to not making the same mistake.

*snip*

Hmm, it seems that the companies that some crybabies like to harp on are the only ones actually doing anything to meet demand and bring down prices.

What is your precious government(s) doing?

 

[HBarlow]

This is a sad but funny thread. The original poster who opened this thread and several other posters who are complaining voted for exactly this result, they just didn't know it.

Remember that change you voted for? Now you're receiving it.

 

[macdaddy]

This is a sad but funny thread. The original poster who opened this thread and several other posters who are complaining voted for exactly this result, they just didn't know it.



Remember that change you voted for? Now you're receiving it.

Harvey.....



Short,sweet and to the point.....



Excellent post



Mac