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Thread: Gas prices set record: 1,000 days above $3 a gallon

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by rocket88 View Post
    You're absolutely right, it will never drop as low as it was. Gasoline is a different commodity than crude oil. As long as the refiners make more money shipping a large portion of it off to China, they will. If all the gasoline produced here stayed here, the price would go down significantly. The oil companies will do whatever makes them more money, that's business.
    Energy companies have a fiduciary duty to their stock holders, many of whom are the large pensions funds that depend on their dividends to fund benefits payments. In addition to generating revenue, they must continue to explore for more oil, and prepare for the day they transition to new forms of condensed energy they can sell.

    Our future energy needs will almost certainly come from Hydrogen Fuel Cell technology, of which the energy companies will continue to play a central role. Such a transition will take a significant investment on the part of these companies, which the current profits are providing revenue to support.

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by sawyerloggingon View Post
    Obama could open up fed lands to drilling, easy fix.
    Ok, then please explain to me why they will charge less for gas when they know they will get the present level?

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by TheNextEra View Post
    Right, because we should hold Obama accountable for OPEC right?
    We certainly can hold him accountable for trying to start more unjust wars in the ME and keeping this country dependent upon foreign oil

    We should be fracking here and becoming energy independent. Instead our economy is held hostage by radical eco extremist wackos pushing lies and scams like Global Warming and electric cars

    ND posts record annual oil production again - Yahoo Finance

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by tererun View Post
    Ok, then please explain to me why they will charge less for gas when they know they will get the present level?
    Supply and demand for one, increase supply and you change the equation. Then there is the psychology of commodity traders, if they see fed lands being opened up to drilling and see more oil coming in the future they will bid the price of oil down.

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by rocket88 View Post
    It's hard to get all worked up over the coal being sold on the open market. Are you saying we should nationalize the coal industry? That's not socialistic at all
    You ask me what I'm saying? Can't you read what Im saying rather than guessing?

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by ocean515 View Post
    Energy companies have a fiduciary duty to their stock holders, many of whom are the large pensions funds that depend on their dividends to fund benefits payments. In addition to generating revenue, they must continue to explore for more oil, and prepare for the day they transition to new forms of condensed energy they can sell.

    Our future energy needs will almost certainly come from Hydrogen Fuel Cell technology, of which the energy companies will continue to play a central role. Such a transition will take a significant investment on the part of these companies, which the current profits are providing revenue to support.
    Absolutely. I'm not vilifying them at all. They're doing what a corporation tries to do, which is to make money.


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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by rocket88 View Post
    Absolutely. I'm not vilifying them at all. They're doing what a corporation tries to do, which is to make money.
    Exactly. We all have to make money in order to live a fuller life for ourselves and our families. Corporation employees are no different.

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by sawyerloggingon View Post
    Obama's anti oil policies have created an artificial supply and demand imbalance.
    You crack me up. It saddens me people actually think the way you do.

    Quote Originally Posted by Sharona View Post
    China and the East are buying more oil ..... market demand changes.
    I know...you need to tell that to sawyer, he doesn't seem to understand it.

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by Bronson View Post
    We certainly can hold him accountable for trying to start more unjust wars in the ME and keeping this country dependent upon foreign oil

    We should be fracking here and becoming energy independent. Instead our economy is held hostage by radical eco extremist wackos pushing lies and scams like Global Warming and electric cars

    ND posts record annual oil production again - Yahoo Finance
    There is no such thing as "energy independence". It is a complete myth.

    Even if you completely deregulated fracking and oil production, opened up drilling in Alaska, pretty much whatever, it would hardly make a dent in resource prices on the global market. Now, if you, a libertarian, want to make an argument for some kind of government restriction on imports, certainly feel free. I think we would all find it amusing, not just the obvious, but also the fact that you would be attacking the American refining industry, which is enormous and makes boatloads of money importing crude to refine and export.

    As for electric cars, what's wrong with that?
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: Gas prices set record: 1,000 days above $3 a gallon

    Quote Originally Posted by Khayembii Communique View Post
    There is no such thing as "energy independence". It is a complete myth.

    Even if you completely deregulated fracking and oil production, opened up drilling in Alaska, pretty much whatever, it would hardly make a dent in resource prices on the global market. Now, if you, a libertarian, want to make an argument for some kind of government restriction on imports, certainly feel free. I think we would all find it amusing, not just the obvious, but also the fact that you would be attacking the American refining industry, which is enormous and makes boatloads of money importing crude to refine and export.

    As for electric cars, what's wrong with that?
    Oh really?

    What's the unemployment rate in ND? You understand basic economics right?

    Why should we continue to depend on oil in the ME when the US has vastly more oil resources we can tap into

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