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Thread: Gas prices are highest ever for this time of year

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sharon View Post
    This is in part market nerves over Iran.. Brent Crude went to $121 a barrel yesterday.
    Why are the markets nervous over Iran?

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    Why are the markets nervous over Iran?
    Well Iran has threatened to block the Strait of Hormuz and threatened to limit supplies to Europe over the EU's sanctions.
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    Why are the markets nervous over Iran?
    Because an attack on Iran by Israel would likely result in either a closure of the Strait of Hormuz (temporary) on an attack on the Saudi Oifields.. that would take about 10 million bpd off the market for up to three years.

    And Brent Crude ALWAYS gouges.. they don't follow OPEC rules.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sharon View Post
    Refineries close down twice a year for routine maintenance.. Its that time of year... coupled with nerves over Iraq.....
    I'm sure there are plenty of excuses, but I don't see any excuses for the media coverage in your statement above. How come? If it was speculators before, couldn't it be speculators now? Couldn't it be corruption now? Don't we need an investigation like we had under Bush?


    But Obama's on record saying he'd prefer a gradual adjustment on gasoline prices.. so maybe that's what $4+ gasoline is - a gradual adjustment. That fits in nicely with his administrations policies of pushing and gambling on green energy company's.
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sharon View Post
    Canada's production is rather small.. they still import over a million barrels per day from OPEC and North Sea.
    Why would you think Obama "loves this".. He doesn't control ANY oil companies or exploration and lift costs.

    Iran's production is also quite small and half of it goes to domestic consumption.

    The price of gas isn't really every going down again.
    [First bolded] Canada is the largest supplier of foreign oil to the U.S.

    [Second bolded] This is the whole idea, I'm afraid. Run the gas price up to $4, so we'll feel "better" when it goes to $3, which was too high to begin with. Now, run it up to $5 to condition us to accept $4.

    As soon as we can get to the European socialistic standards of $6-8 per gallon, the better, right?

    And all we have to do is drill our own better, and build some refineries. Why don't we?

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by Ockham View Post
    I'm sure there are plenty of excuses, but I don't see any excuses for the media coverage in your statement above. How come? If it was speculators before, couldn't it be speculators now? Couldn't it be corruption now? Don't we need an investigation like we had under Bush?


    But Obama's on record saying he'd prefer a gradual adjustment on gasoline prices.. so maybe that's what $4+ gasoline is - a gradual adjustment. That fits in nicely with his administrations policies of pushing and gambling on green energy company's.
    This isn't about pushing green energy.. although some locales would benefit from local solutions.

    This is about reducing US consumption.. which we have done... Becoming more efficient... which we are still doing ... and increasing domestic production.. which we have also done.

    Refinery maintenance isn't an excuse... its a fact of life twice a year.. every year.

    Gasoline isn't going down in cost.. Its costly everywhere in the world UNLESS it is subsidized by the government.

    Build more refineries for what? A refinery costs $5 billion dollars.. and if it isn't running to capacity its losing money.

    Don't you see that's the issue with the Keystone export pipeline? That oil was formerly refined in the Mid West and those refineries will now be by-passed.
    Last edited by sharon; 02-20-12 at 11:19 AM.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by zgoldsmith23 View Post
    Well Iran has threatened to block the Strait of Hormuz and threatened to limit supplies to Europe over the EU's sanctions.
    Why have they threatened to do this?

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sharon View Post
    Because an attack on Iran by Israel would likely result in either a closure of the Strait of Hormuz (temporary) on an attack on the Saudi Oifields.. that would take about 10 million bpd off the market for up to three years.

    And Brent Crude ALWAYS gouges.. they don't follow OPEC rules.
    It has nothing to do with the threats coming from the U.S.?

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    Why have they threatened to do this?
    Which one? They threatened to block Hormuz because they feel threatened over the U.S.
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    It has nothing to do with the threats coming from the U.S.?
    If you watch the news reports.. the US, UK and France are all calling for a diplomatic solution.

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