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Gas prices are highest ever for this time of year

Kushinator said:
The U.S. lacks the capabilities to offset any supply disruptions from the middle east. Are you aware of how long it takes to get an oil rig up, running, and pumping?
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Not only that the Keystone oil takes extra steps in refining since it's not light sweet crude, which will drive the cost up.
 
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sharon said:
Are you so naive that you think gas will ever again be cheap?

And, are you so naive that you think Obama runs the oil world?
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Two completely incongruous thoughts, lol.

Gas prices are artificial, and it is painfully obvious that we are being "conditioned" to accept higher prices for something that, if we took the bull by the horns, we could produce much cheaper for ourselves.

Obama doesn't run anything, other than a skyrocketing deficit, best we can tell. Catasphrophic liberal brainwashing and the religion of global warming are preventing us from doing just that.

Cut off our need for Middle Eastern oil, and watch that part of the world literally fade to complete irrelevance.
 
Erod said:
Two completely incongruous thoughts, lol.

Gas prices are artificial, and it is painfully obvious that we are being "conditioned" to accept higher prices for something that, if we took the bull by the horns, we could produce much cheaper for ourselves.

Obama doesn't run anything, other than a skyrocketing deficit, best we can tell. Catasphrophic liberal brainwashing and the religion of global warming are preventing us from doing just that.

Cut off our need for Middle Eastern oil, and watch that part of the world literally fade to complete irrelevance.
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Gas prices are not artificial.. they are based on exploration and lift costs.. quantity of flow, qualtity. refining costs . transportation and market demand..

You are like a child wanting cheap candy.. The oil business is a business not a convenience ... Its ll about ROI and profit.
 
sharon said:
Gas prices are not artificial.. they are based on exploration and lift costs.. quantity of flow, qualtity. refining costs . transportation and market demand..

You are like a child wanting cheap candy.. The oil business is a business not a convenience ... Its ll about ROI and profit.
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We've seen gas prices go up and down by 25 percent in a matter of a week. Yes, they are largely artificial.
 
zgoldsmith23 said:
I'm not sure I follow your statement. Care to reiterate, please?
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I think I was pretty clear. Obama = Bush. When it comes to wanting to attack other countries, it seems they are one in the same. It would be clear to you IMO if Bush was doing this.
 
sharon said:
Gas prices are not artificial.. they are based on exploration and lift costs.. quantity of flow, qualtity. refining costs . transportation and market demand..
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$145 was artifical.
 
Erod said:
News Headlines



I just don't get it.

You build a a new refinery or two, which will directly and indirectly create hundreds of thousands of jobs, and you drive the price down on gasoline, groceries, travel, and everything else. You run that pipleline and you pick up our on- and off-shore drilling production, too

Basically, Obama has extended the social security tax cut so people get to keep another $40 per month, then gas prices spiral upward so all that and more goes back into the gas tank. What is the point?

Why we let this go on, while other countries simply pick up the slack and gouge us on the back end, is completely beyond me.

But I guess the Jedi global-warming mind tricks always work on the weak minded, eh Obi Wan?
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What I don't get is why Conservatives are complaining about high oil and gas prices ... I thought y'all were the champions of free market enterprise? Oil companies exercising capitalism is suddenly a problem for you now that we have a Democrat in the White House?
 
1Perry said:
$145 was artifical.
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I guess nobody paid $145 for oil since the price was "artificial". I believe the term you are looking for is volatile. Volatile and artificial are not the same thing.
 
1Perry said:
I think I was pretty clear. Obama = Bush. When it comes to wanting to attack other countries, it seems they are one in the same. It would be clear to you IMO if Bush was doing this.
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Please, that is such utter tripe. George Bush invaded two nations with troops inside those countries for a combined 13 years for the two wars on his watch. Barack Obama has invaded no countries, and the closest he's come was aiding a U.N. effort to help a rebellion in Lybia, which lasted months.
 
Erod said:
News Headlines



I just don't get it.

You build a a new refinery or two, which will directly and indirectly create hundreds of thousands of jobs, and you drive the price down on gasoline, groceries, travel, and everything else. You run that pipleline and you pick up our on- and off-shore drilling production, too

Basically, Obama has extended the social security tax cut so people get to keep another $40 per month, then gas prices spiral upward so all that and more goes back into the gas tank. What is the point?

Why we let this go on, while other countries simply pick up the slack and gouge us on the back end, is completely beyond me.

But I guess the Jedi global-warming mind tricks always work on the weak minded, eh Obi Wan?
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Oil demand is at its lowest level since 1997. Supply and demand says that the price should follow demand. Manipulation seems to be the accepted status quo. Find the bottleneck. If it is banks and hedge funds buying tankerloads and holding them just outside the three mile limit to control, do the right thing, shoot them. That'd be the bankers that we bailed out. Don't let them make bail.
 
1Perry said:
I think I was pretty clear. Obama = Bush. When it comes to wanting to attack other countries, it seems they are one in the same. It would be clear to you IMO if Bush was doing this.
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Not sure Obama has declared war on (and sent troops to) Iran as of yet...
 
DaveFagan said:
Oil demand is at its lowest level since 1997. Supply and demand says that the price should follow demand. Manipulation seems to be the accepted status quo. Find the bottleneck. If it is banks and hedge funds buying tankerloads and holding them just outside the three mile limit to control, do the right thing, shoot them. That'd be the bankers that we bailed out. Don't let them make bail.
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Oil demand in the US might be at its lowest level since 1997 (which I doubt,) projected worldwide demand is for 89 million barrels per day for 2012 a 12 million bpd increase from around 2000

The US only accounts for around 18-20 % of world wide oil demand, and its demand is generally stable +/- 5% in any one year. It is emerging market demand that is driving the price of oil and gas (not natural gas in the US) up.

Heck if the US was smart it could and should build LPG plants on the east coast to export natural gas. But that would I believe break some US laws
 
sharon said:
Are you so inculcated with hate that you actually believe that Obama wants anything but a restructuring of failed policies?

Do you truly believe that he wants to destroy the US?
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I don't want to believe that America has a leader so incompetent but his decisions, his actions and his policies makes throw my hands up in the air saying wtf

Im neither Conservative or Liberal. I'm just an average swing voter and I want good leadership. I don't care if he/she's a Dem or a Rep, we need a good leader.

And yes I was cursing Bush at the gas pumps during the Summer of 2008 and if they go up again this Summer, Obama should be held just as accountable as Bush was in 2008.

Also if gas does sky rocket this Summer, try not to act too surprised at the price going up for food at the Supermarket. Not a good thing to happen for Obama during an election year.
 
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Sparky said:
I don't want to believe that America has a leader so incompetent but his decisions, his actions and his policies makes throw my hands up in the air saying wtf

Im neither Conservative or Liberal. I'm just an average swing voter and I want good leadership. I don't care if he/she's a Dem or a Rep, we need a good leader.

And yes I was cursing Bush at the gas pumps during the Summer of 2008 and if they go up again this Summer, Obama should be held just as accountable as Bush was in 2008.

Also if gas does sky rocket this Summer, try not to act too surprised at the price going up for food at the Supermarket. Not a good thing to happen for Obama during an election year.
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The president of the United States does not have a giant dial in his office that says "oil prices." Regardless of which party he belongs to. Oil is a global commodity that is used for basically everything we do, its price is dictated by basic supply and demand, for the most part. This is something the American president has virtually no control over.

Incidentally, the "drill baby, drill" crowd should take steps to learn more about the math behind the idea. Then they'll realize just how stupid it sounds when presented as this magical solution to rising gas prices. We can't drill our way to lower gas prices.
 
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Lord Tammerlain said:
Oil demand in the US might be at its lowest level since 1997 (which I doubt,)
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Yeah... the low point was at the height of the recession, when demand plummeted and gas was less than half what it costs today.
 
Why are oil prices so high and may continue to rise further? The simple answer is because the oil companies can.

On Bill O'reilly last week they talked about this very issue. While US consumption of oil has declined our prices continue to rise. The Global demand for oil/gasoline is still strong so Oil companies are still processing as much oil but instead of easing production to match US consumption which would lowering prices and profit they are instead shipping product overseas keeping the perception of US demand high and prices with it. This will only continue to worsen as China's demand continues to rise even if we continue to lower consumption.
 
Baralis said:
Why are oil prices so high and may continue to rise further? The simple answer is because the oil companies can.

On Bill O'reilly last week they talked about this very issue. While US consumption of oil has declined our prices continue to rise. The Global demand for oil/gasoline is still strong so Oil companies are still processing as much oil but instead of easing production to match US consumption which would lowering prices and profit they are instead shipping product overseas keeping the perception of US demand high and prices with it. This will only continue to worsen as China's demand continues to rise even if we continue to lower consumption.
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Of course. It's a global market and oil is a commodity.
 
Kushinator said:
I guess nobody paid $145 for oil since the price was "artificial". I believe the term you are looking for is volatile. Volatile and artificial are not the same thing.
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No, I had the right word.
 
Baralis said:
Why are oil prices so high and may continue to rise further? The simple answer is because the oil companies can.

On Bill O'reilly last week they talked about this very issue. While US consumption of oil has declined our prices continue to rise. The Global demand for oil/gasoline is still strong so Oil companies are still processing as much oil but instead of easing production to match US consumption which would lowering prices and profit they are instead shipping product overseas keeping the perception of US demand high and prices with it. This will only continue to worsen as China's demand continues to rise even if we continue to lower consumption.
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Oil companies do not set the price.
 
1Perry said:
No, I had the right word.
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If that was the case, i would not have had to correct your misuse of basic vocabulary. Prices by definition cannot be artificial no matter what underlying good to which we use prices to measure value.

In finance, volatility is a measure for variation of price of a financial instrument over time.
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Kushinator said:
If that was the case, i would not have had to correct your misuse of basic vocabulary. Prices by definition cannot be artificial no matter what underlying good to which we use prices to measure value.
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Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.

Market manipulation - Wikipedia, the free encyclopedia

Now, to be clear I'm not saying that manipulation was the sole, main or even major reason for the rise to $145 but the government confirmed that it played a role.

Government uncovers oil price manipulation - Jul. 24, 2008

Things like the markets spiking every time there was a report of a storm in the Gulf was artificial.
 
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Between the sanctions on Iran, and propping up both big oil interests and the illusion of consumer demand, I wouldn't expect anything less.
 
1Perry said:
Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.

Market manipulation - Wikipedia, the free encyclopedia

Now, to be clear I'm not saying that manipulation was the sole, main or even major reason for the rise to $145 but the government confirmed that it played a role.

Government uncovers oil price manipulation - Jul. 24, 2008

Things like the markets spiking every time there was a report of a storm in the Gulf was artificial.
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Speculation is the norm in asset markets; there is nothing artificial about it! Asymmetric information exists, and i have no doubt that people can and do exploit it. However, market manipulation in commodity and equity markets is certainly not the norm.
 
1Perry said:
Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.

Market manipulation - Wikipedia, the free encyclopedia

Now, to be clear I'm not saying that manipulation was the sole, main or even major reason for the rise to $145 but the government confirmed that it played a role.

Government uncovers oil price manipulation - Jul. 24, 2008

Things like the markets spiking every time there was a report of a storm in the Gulf was artificial.
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And of course a significant part of the Dodd-Frank financial reform bill is aimed at curbing just such speculation. Is that why Republicans are so dead set against it?
 
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