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Gas Prices Jump Nearly 25 Cents In Last 2 Weeks

MMC said:
Yes — The administration has done little to reduce oil prices

DANIEL SIMMONS, Director of State Affairs at the Institute for Energy Research.....snip~


Post 95......there are some things he can do. Also getting that agreement from the G8 is major factor.
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No administration effectively has, nor should.
 
MMC said:
Why do you say that.....I would think dropping certain regulations would at least start the process.
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You need to accurately define the root cause of the problem before suggesting a solution.

Nobody has done that as of yet, here or in DC.
 
MMC said:
Yeah, when you figure out that demand here has gone down.....then you might catch on.



Plus ya can tell ya pals at the Underground I said thanks for the same sources.
th
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World demand when down during the great recession, that is why oil prices went down. What do you think is happening to world oil prices now that the world is coming out of the recession?
 
Psst!

Emerging markets.

Psst!

Emerging markets = increased demand.

Psst!

Increased demand = increase in price. (price is elastic compared to demand)

Psst!
 
SMTA said:
You need to accurately define the root cause of the problem before suggesting a solution.

Nobody has done that as of yet, here or in DC.
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Well the regulations are part of anything else they find.....but they do point out what will take prices down.

Conversely, allowing America's oil and natural gas producers to explore our vast oil reserves would absolutely quell concerns about future oil production, increase international spare capacity, and bring down the price of gasoline.....snip~

Course throw in those tax recovery policies and those regulations. Where else can they look to beyond this. Other than policy to get like the G8 to make an agreement. Which I just mean in this field and not looking at alternatives.
 
MMC said:
Well the regulations are part of anything else they find.....but they do point out what will take prices down.

Conversely, allowing America's oil and natural gas producers to explore our vast oil reserves would absolutely quell concerns about future oil production, increase international spare capacity, and bring down the price of gasoline.....snip~

Course throw in those tax recovery policies and those regulations. Where else can they look to beyond this. Other than policy to get like the G8 to make an agreement. Which I just mean in this field and not looking at alternatives.
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Every decision made has some alternative cost attached to it.

There are available reserves in the US, but we cannot allow companies to just race in and drill.

There are safety, environmental, and transportation issues (to name a few) that need to be addressed first.

The current fracking issues have yet to be completely identified, and issues continue to arise.
 
Payroll tax increase, constant increases in gas prices? Yeah Obama is definitely looking out for the middle class. After Golf with Tiger Woods of course.
 
LiberalAvenger said:
The one who has no other choice than to drive forty miles to work. Now, you are going to tell me they should move, right? He/she can not afford to move.
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You have an interesting, if somewhat wierd, idea of just who is "the little guy" ...
 
OpportunityCost said:
Another factor is refining capacity, we havent built a new refinery in this country in years. Regional supply issues cause a lot of the gas price swings we experience all the time.
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Good point. The hundred or so boutique fuel blends for different parts of the country at different times of the year cause some real distortions in the market. Consider the one and only refinery that produces gasoline for the Chicago area: if they guess too low they can't import the difference from anywhere else, and if they guess too high they have no place to sell the excess. Multiply that problem by the number of "special needs" areas, and you have some real problems with price and supply consistency.

But the libs don't mind as long as they get theirs...
 
AliHajiSheik said:
With the interest rates so low, I'm just going to take out a mortgage to fund my gas purchases.
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I suggest you go for a fixed-rate mortgage rather than an ARM.
 
SMTA said:
Every decision made has some alternative cost attached to it.

There are available reserves in the US, but we cannot allow companies to just race in and drill.

There are safety, environmental, and transportation issues (to name a few) that need to be addressed first.

The current fracking issues have yet to be completely identified, and issues continue to arise.
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Sure there are safety issues, environmental, and transportation issues. But when the Federal Government has lands and has decreased contracts and caused the process of imposing bureaucratic red tape all to stymie growth and deter more output from Federal Lands. While imposing more regulations yet stating there is nothing they can do offset any process. Then IMO the Fed is absolutely outright lying to the American Public that there is nothing they can do.
 
MMC said:
Sure there are safety issues, environmental, and transportation issues. But when the Federal Government has lands and has decreased contracts and caused the process of imposing bureaucratic red tape all to stymie growth and deter more output from Federal Lands. While imposing more regulations yet stating there is nothing they can do offset any process. Then IMO the Fed is absolutely outright lying to the American Public that there is nothing they can do.
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Has it occurred to you that rising prices might merely be gas suppliers raising their profits.........After all, the price of "oil" has been pretty stagnant for sometime now and what would be the purpose of drilling for more oil in the midst of a worldwide oil glut ?.......
 
Bonzai said:
Has it occurred to you that rising prices might merely be gas suppliers raising their profits.........After all, the price of "oil" has been pretty stagnant for sometime now and what would be the purpose of drilling for more oil in the midst of a worldwide oil glut ?.......
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Well, we have up what are the cause for these Gas Prices and why they are so high now.

allowing America's oil and natural gas producers to explore our vast oil reserves would absolutely quell concerns about future oil production, increase international spare capacity, and bring down the price of gasoline.....snip~

Also Ttwtt put up a link with Car and Driver.....that addresses much of that issue. As well as over supply and demand.
 
MMC said:
Well, we have up what are the cause for these Gas Prices and why they are so high now.

allowing America's oil and natural gas producers to explore our vast oil reserves would absolutely quell concerns about future oil production, increase international spare capacity, and bring down the price of gasoline.....snip~

Also Ttwtt put up a link with Car and Driver.....that addresses much of that issue. As well as over supply and demand.
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Except that there is absolutely no proof that the supply of oil is related to the price of gas: As I already stated: THere is a worldwide oil GLUT and the price of oil has been relatively stagnant.............Shouldn't you be explaining why gas prices aren't dropping ?...............
 
Bonzai said:
Except that there is absolutely no proof that the supply of oil is related to the price of gas: As I already stated: THere is a worldwide oil GLUT and the price of oil has been relatively stagnant.............Shouldn't you be explaining why gas prices aren't dropping ?...............
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According to South Jersey AAA spokesman Rich Bradley, the most recent spike in gas prices stems partly from a refinery closure in Saint Croix resulting in one million barrels of crude oil sitting idle, combined with slowdowns at 25 percent of U.S. refineries for scheduled maintenance work.

“Gas companies are also switching over from a winter blend to a summer blend, so there’s just not a lot of fuel out there, which is driving up cost,” said Bradley. “Also, there’s still the remnants of the disruption caused by (Superstorm) Sandy — that’s going to be less and less each day, but it’s still a factor.”.....snip~

Well that and what Triple A was saying.....huh?
 
MMC said:
According to South Jersey AAA spokesman Rich Bradley, the most recent spike in gas prices stems partly from a refinery closure in Saint Croix resulting in one million barrels of crude oil sitting idle, combined with slowdowns at 25 percent of U.S. refineries for scheduled maintenance work.

“Gas companies are also switching over from a winter blend to a summer blend, so there’s just not a lot of fuel out there, which is driving up cost,” said Bradley. “Also, there’s still the remnants of the disruption caused by (Superstorm) Sandy — that’s going to be less and less each day, but it’s still a factor.”.....snip~

Well that and what Triple A was saying.....huh?
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So you go with the theory that it's seasonal and weather related.............Hardly a reason to push the panic button and have a firesale of oil leases, which something tells me would only benefit a handful of companies and in no way, shape, or form the American consumer...............
 
rocket88 said:
It costs more in Hawaii because of the added cost of getting the gas out to Hawaii. There are cars on every island (except Niihau) but not refineries! You've got to put it on a boat and take it out there. It costs more in California because of increased demand. Should Obama jump in an demand that the oil companies send more gas to California? Maybe he should just nationalize oil so that he can regulate it...somehow I don't think you're wanting that to happen.
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Niihau I believe has a few cars as the private owners brought them over. There is currently 1 operating civilian refinery (I find it hard to believe the military does not have their own) as the second one shut down and is retooling to be a distribution system.

Second, most of the fuel that Hawaii uses comes Asia (Vietnam in particular), not from the West Coast. It's a reason why despite WTI drops, the cost of fuel is still high as its priced usually in Brent.

But you are right in that the easiest way to reduce oil prices is to nationalize.

America's #1 export last year was refined oil products.
 
Bonzai said:
So you go with the theory that it's seasonal and weather related.............Hardly a reason to push the panic button and have a firesale of oil leases, which something tells me would only benefit a handful of companies and in no way, shape, or form the American consumer...............
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There is no reason to push a panic button nor was there any saying there was such a need. As CNN reported with the G8 they all issued a declaration and agreed to keep their oil reserves open so that no shortages would be affected by the Iranian sanctions.
 
MMC said:
There is no reason to push a panic button nor was there any saying there was such a need. As CNN reported with the G8 they all issued a declaration and agreed to keep their oil reserves open so that no shortages would be affected by the Iranian sanctions.
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So, unless you're a stockholder in some oil company, why would you go on with the silly notion that more oil drilling would benefit anyone in any way except those companies doing the drilling ?..........I mean, come on, we're all probably adults here................
 
MMC, and Bonzai

You do realize that oil prices are more impacted by future events rather than current ones no? For instance, terrorists bomb a Saudi oil platform. That oil would take months to get to market after shipping and refining, but oil prices spike now for oil sitting in the gas station you just pulled up to. The attack on an Armaco platform has no impact upon the actual cost of existing oil. But it does affect prices now. Bonzai is right that the US and other nations are sitting on large inventories. But the Iranian situation doesn't look like it will be getting resolved any time soon and the increasing demand from India and China is driving future prices up. Seems to me that those affect prices well more then anything right now.
 
Bonzai said:
So, unless you're a stockholder in some oil company, why would you go on with the silly notion that more oil drilling would benefit anyone in any way except those companies doing the drilling ?..........I mean, come on, we're all probably adults here................
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Conversely, allowing America's oil and natural gas producers to explore our vast oil reserves would absolutely quell concerns about future oil production, increase international spare capacity, and bring down the price of gasoline.....


Did you miss that part on the speculators? Most adults I know.....didn't! :roll:
 
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