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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 Karl View Post
    And I'm sure that trolling is trolling there too.
    What a cowardly answer.

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

    Quote Originally Posted by AdamT View Post
    Our number one export product last year was what? Gasoline.
    America is still the world's largest importer of crude oil. From January to October, the country imported 2.7 billion barrels of oil worth roughly $280 billion.
    Fuel exports, worth an estimated $88 billion in 2011, have surged for two reasons:
    Crude oil, the raw material from which gasoline and other refined products are made, is a lot more expensive. Oil prices averaged $95 a barrel in 2011, while gasoline averaged $3.52 a gallon a record. A decade ago oil averaged $26 a barrel, while gasoline averaged $1.44 a gallon.
    The volume of fuel exports is rising. The U.S. is using less fuel because of a weak economy...
    So we import a raw material and export a finished product.

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

    Quote Originally Posted by tecoyah View Post
    Hmmmm....every years gas prices have been rising, and every year less is produced. Every year we pay a little More at the pump, and every year there seems to be something happening in the middle east.


    Yeah....The President of the United States is responsible for these things...Dayum, he deserves Kudos just for bein' such a Bad Ass.
    I understand your need to change the subject.

    The one term Marxist president Barrack Hussein Obama said his policies would cause the cost of energy to skyrocket. His policies did exactly what he said they would. Are you claiming that the one term Marxist is a liar? If so what is your evidence?

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

    Quote Originally Posted by hazlnut View Post
    I just realized that Fox News not only sells lies, they also sell passion for the re-telling of lies.

    Look at how the Foxies and Far-righties cling to the bullcrap like honey flavored gold.
    No flames.jpg

    So factual!

    On the subject matter however, we have locked up supply by not expanding our refinery capacity. Im anxious to see the impact of the oil shale process on domestic supply. We need every energy supply on the table and every alternate transportation source as a viable commercial enterprise to really make a dent into gas prices. Right now we arent doing everything. We are doing everything with non combustion but we could be doing more with that, too.

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

    Quote Originally Posted by OpportunityCost View Post
    No flames.jpg

    So factual!

    On the subject matter however, we have locked up supply by not expanding our refinery capacity. Im anxious to see the impact of the oil shale process on domestic supply. We need every energy supply on the table and every alternate transportation source as a viable commercial enterprise to really make a dent into gas prices. Right now we arent doing everything. We are doing everything with non combustion but we could be doing more with that, too.

    Our refineries are exporting 400,000 Barrels a day of gasoline and you stil want more production? What we aren't doing is passing the bill that would stop speculators from owning more than 25% of the market at a time. I don't know why should we tolerate anybody buying up oil that doesn't use it at all but isn't 25% of the market enough?

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

    Quote Originally Posted by iguanaman View Post
    Our refineries are exporting 400,000 Barrels a day of gasoline and you stil want more production? What we aren't doing is passing the bill that would stop speculators from owning more than 25% of the market at a time. I don't know why should we tolerate anybody buying up oil that doesn't use it at all but isn't 25% of the market enough?
    Long term price trends are driven by fundamentals, not short term plays on volatility. By enacting such reforms, you limit producers abilities to hedge against exogenous supply shocks that can emerge from wars, natural disasters, and other types of disruptions. The best way to curb unnecessary speculation is to simply raise margin requirements at various clearing houses. But even that sort of action carries its own risks, as limiting market participation increases the likelihood of information asymmetries that are just as dangerous as short term speculators.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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

    Quote Originally Posted by Catawba View Post
    I don't think anyone was surprised you are unaware that big oil was kicked out or Iraq when they nationalized their oil 40 years ago. It took an invasion/occupation/regime change to accomplish getting them back in.

    Mission accomplished!!!
    I don't think anyone is surprised that you are unaware that a dictator controlled Iraqi oil since 40 years ago. In order to do business with him, substantial bribes and kickbacks were required. It took an invasion/regime change to open the markets to legitimate oil companies.

    You are right on one thing though, it was mission accomplished.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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

    Quote Originally Posted by Gill View Post
    I don't think anyone is surprised that you are unaware that a dictator controlled Iraqi oil since 40 years ago. In order to do business with him, substantial bribes and kickbacks were required. It took an invasion/regime change to open the markets to legitimate oil companies.

    You are right on one thing though, it was mission accomplished.
    Hundreds of thousands of dead and $2 trillion dollars to replace one corrupt regime with another corrupt regime that is backed up by the most powerful military on the planet. You consider that a good deal do you?

    I agree with the majority of Post 9/11 Veterans and Americans, it wasn't worth it.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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

    Quote Originally Posted by Catawba View Post
    Hundreds of thousands of dead and $2 trillion dollars to replace one corrupt regime with another corrupt regime that is backed up by the most powerful military on the planet. You consider that a good deal do you?

    I agree with the majority of Post 9/11 Veterans and Americans, it wasn't worth it.
    If you care to point out where I said it was worth it, I'll be happy to respond.

    • "The America Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -- Alexis de Tocqueville





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

    Quote Originally Posted by Misterveritis View Post
    America is still the world's largest importer of crude oil. From January to October, the country imported 2.7 billion barrels of oil worth roughly $280 billion.
    Fuel exports, worth an estimated $88 billion in 2011, have surged for two reasons:
    — Crude oil, the raw material from which gasoline and other refined products are made, is a lot more expensive. Oil prices averaged $95 a barrel in 2011, while gasoline averaged $3.52 a gallon — a record. A decade ago oil averaged $26 a barrel, while gasoline averaged $1.44 a gallon.
    — The volume of fuel exports is rising. The U.S. is using less fuel because of a weak economy...
    So we import a raw material and export a finished product.
    Right, but as high as our gas prices are it's not from a shortage of anything. The oil companies ship gasoline elsewhere that they make here because they make a bigger profit in doing so. That's just business.

    So gas wouldn't necessarily be cheaper just from drilling anywhere and everywhere. Because if the increased crude production just turns into gasoline that they ship to China because they make more money, it doesn't lower the price we pay much at all.


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    This issue has been plowed more times than Paris Hilton.
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    Too bad we have to observe human rights.

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