Page 6 of 16 FirstFirst ... 45678 ... LastLast
Results 51 to 60 of 156

Thread: Gasoline prices zip toward $3 mark

  1. #51
    Dispenser of Negativity
    Cold Highway's Avatar
    Join Date
    May 2007
    Location
    Newburgh, New York and World 8: Dark Land
    Last Seen
    12-24-12 @ 11:21 PM
    Gender
    Lean
    Libertarian
    Posts
    9,596
    Blog Entries
    7

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Dirty Harry View Post
    Drill baby drill. But how do we get them to drill more when that would drive prices down lowering their profits? The government should force the oil companies to drill more to keep prices artificially low.
    That and the devaluation of the dollar doesnt help prices either.

    Quote Originally Posted by idk View Post
    Why do we need to drill?
    Quote Originally Posted by ptif219 View Post
    They can't just drill they also have to build refineries to refine the increased oil.
    Since Oil like of other commodities is a heavily speculated market, when news gets out that the US is drilling for oil in places that we know has oil prices would come down little by little.
    Jackboots always come in matched pairs, a left boot and a right boot.

  2. #52
    Banned
    Join Date
    Nov 2009
    Location
    melbourne florida
    Last Seen
    09-24-15 @ 12:15 AM
    Gender
    Lean
    Very Conservative
    Posts
    13,156

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by RyrineaHaruno View Post


    No, we weren't! I don't blame the presidents, because of the rise in oil prices. I'd put the blame were it lays with.
    Democrats & Liberals: How Bush Is Controlling Oil Prices.

  3. #53
    Banned
    Join Date
    Nov 2009
    Location
    melbourne florida
    Last Seen
    09-24-15 @ 12:15 AM
    Gender
    Lean
    Very Conservative
    Posts
    13,156

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Catawba View Post
    Drill away baby. But you better start using solar and wind power as well, because we haven't produced enough oil to meet our needs for decades.
    Wind will not work. It can't produce enough to meet our needs

  4. #54
    Banned
    Join Date
    Nov 2009
    Location
    melbourne florida
    Last Seen
    09-24-15 @ 12:15 AM
    Gender
    Lean
    Very Conservative
    Posts
    13,156

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Dirty Harry View Post
    They usually run 85%. They need the reserve capacity in case of an unforeseen problem and also so the supply doesn't get too far ahead of demand. Prices would drop and so would their profits. It's funny how people forget that oil companies are for profit companies and their main goal is to maximize profits, not provide us with cheap, abundant energy.
    You have a link?

    Minnesota Energy : Gasoline Pricing Facts for Consumers


    Three refineries supply the bulk of our refined products (such as gasoline), Flint Hills and Marathon-Ashland in the southeast metro and Murphy Oil in Superior, Wisconsin. We also get products via three pipelines.

    Our refineries are running at full capacity nearly all the time.

    * Because we rely on a "full order" of gasoline from the refineries, pump prices will rise if there is any disruption in refinery operations due to fires or maintenance.
    * The costs of adding new refineries and pipelines are very high. In addition to dollar costs, there are also environmental costs to consider.

  5. #55
    Professor
    Dirty Harry's Avatar
    Join Date
    Dec 2009
    Last Seen
    07-01-11 @ 01:48 PM
    Lean
    Independent
    Posts
    1,390

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post
    You have a link?

    [.
    http://www.nytimes.com/2009/12/24/bu...?_r=1&emc=eta1

    We have too much capacity,” said Lynn D. Westfall, the chief economist at the Tesoro Corporation, a midsize refiner, who estimated that the industry’s capacity of 18 million barrels a day must be cut 5 to 8 percent. “We need refineries to be shut down.”

    Refineries, especially smaller ones, have been closing for many years. The number of refineries in the United States fell to about 150 in recent years from more than 300 in 1982. At the same time, the nation’s refining capacity grew by about 13 percent, as companies expanded their most efficient refineries.

    But the shutdowns are now coming so fast that the United States is losing capacity as refiners struggle to match their output to falling demand. Some energy experts have said that gasoline consumption most likely peaked in 2007, when it reached 9.7 million barrels a day, and will not rise to that level again.
    Last edited by Dirty Harry; 01-14-10 at 02:18 PM.

  6. #56
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post
    Wind will not work. It can't produce enough to meet our needs
    No one said wind by itself. We already know enough about passive solar design to cut energy needs for buildings by 50%, freeing up energy for other uses. We've known how to do that for 35 years.

    Increasing the mileage standards for new vehicles will save more oil than the drill baby drill folks can come up with. Other countries are passing us by while we whine about how much it costs to fill up our hummers.

    The only thing lacking is the will to do it, so don't expect a lot of sympathy from me for those that continue to rely on a declining fossil fuel.
    Last edited by Catawba; 01-14-10 at 05:41 PM.
    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

  7. #57
    Enemy Combatant
    Kandahar's Avatar
    Join Date
    Jul 2005
    Location
    Washington, DC
    Last Seen
    10-15-13 @ 08:47 PM
    Gender
    Lean
    Liberal
    Posts
    20,688

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by pendulum_jaw View Post
    Well,you're changing the topic a bit now--you stated that presidents have "very little ability to create uncertainty in the market". This is the one no economist would agree with. The president in fact can create uncertainty in the market in a variety of ways. For example, by promising to cap CEO salaries, or raise taxes, or impose universal healthcare, or by rewarding failure and punishing success, or by championing cap and trade legislation, etc.
    None of those things will create very much uncertainty in the market. They might or might not affect the long-term state of the economy, but the stock market is not going to move up or down very much at all if Obama goes on television tomorrow and says he wants to cap CEO salaries.

    Quote Originally Posted by pendulum_jaw
    The prices of both these would rise in uncertain times. Increasing your inventory of oil would be akin to increasing your inventory of gold, or cigarettes, or liquor, or ammunition....these things will all remain in strong demand in a bad economy.
    Cigarettes, liquor, and ammunition are produced, not extracted, making their value much more stable. Oil and gold are highly volatile in terms of price...not stable commodities at all. If your primary goal is to avoid economic uncertainty, I can't think of very many worse ways to invest your money than oil and gold.

    Quote Originally Posted by pendulum_jaw
    This smiley was in response to my saying that the Obama administration understands little about economics. One example would be Obama's insistance that government can "create" jobs--perhaps one of the greatest economic fallacies of all time. This idea was falsified in the 19th century by Frederick Bastiat, yet here we are in the 21st century with the POTUS repeating it every time he's in front of a microphone.
    That is hardly a unanimous economic view. What you really mean is that the Obama Administration and their economists have a different view than Bastiat...not that they don't know anything about economics. I'd be the first to agree that dollar for dollar, the private sector is better at creating jobs than government in the long term. But if you're deficit spending (i.e. not raising taxes) you aren't taking any money out of the economy, so you can create government jobs without destroying private jobs in the short term.

    Quote Originally Posted by pendulum_jaw
    And it's not just talk, his belief has radically been implemented--just look at the growth of employment in government relative to inustry in the past year.
    That is hardly surprising and not particularly radical, since private sector employment has fallen off a cliff in the past year.

    Quote Originally Posted by pendulum_jaw
    Your recognition that price caps create shortages makes my day. I was really glad to see that. Unfortunately, the vast majority of citizens do not understand it and that's why I believe we may see price-capping under the guise of some populist sentiment (like "controlling the evil, price-gouging oil companies").
    Any political gain would be VERY short-lived...probably no more than a few days. If you implement policies that create shortages, people are going to be pissed off even if they think that's what they want. Just ask Jimmy Carter.

    Quote Originally Posted by pendulum_jaw
    For example, the citizenry is largely in favor of another moronic price-capping threat--capping CEO salaries.
    Meh, that wouldn't have quite the drastic effect that capping gasoline prices would, as CEOs aren't a commodity. But in any case, no one is seriously planning to implement this as a general policy. Even capping the CEO salaries at companies that accepted bailouts is very tricky.

    Quote Originally Posted by pendulum_jaw
    Incidentally, I'm curious to know if you also understand the converse principle--that price floors create surpluses. For example, what's your position on the minimum wage issue? Do you agree that the minimum wage creates a surplus of low wage workers (that is, increases unemployment)?
    Yes.
    Last edited by Kandahar; 01-14-10 at 05:45 PM.
    Are you coming to bed?
    I can't. This is important.
    What?
    Someone is WRONG on the internet! -XKCD

  8. #58
    Banned
    Join Date
    Oct 2009
    Last Seen
    08-14-12 @ 11:44 PM
    Gender
    Lean
    Libertarian
    Posts
    3,928

    Re: Gasoline prices zip toward $3 mark

    What nobody realizes is that the day that Obama announces that he has lifted all restrictions on domestic drilling the price of oil, and thus gas, would go down because of the future prospect of a higher supply thus the current oil not being worth as much. How long it takes for the actual oil to be pumped is irrelevant because oil prices are all based on future demand estimates anyway. Trust me I live in a state that is built around oil and offshore drilling and yes, it IS Obama stopping the drilling thus keeping prices high.

  9. #59
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by dontworrybehappy View Post
    What nobody realizes is that the day that Obama announces that he has lifted all restrictions on domestic drilling the price of oil, and thus gas, would go down because of the future prospect of a higher supply thus the current oil not being worth as much. How long it takes for the actual oil to be pumped is irrelevant because oil prices are all based on future demand estimates anyway. Trust me I live in a state that is built around oil and offshore drilling and yes, it IS Obama stopping the drilling thus keeping prices high.
    And was it Obama stopping it during the 12 years the Republicans were in control of Congress? The truth is we passed peak oil decades ago in this country, and the Republicans just use "drill baby drill" for a campaign slogan now. Otherwise they would have done it themselves when they were in charge.
    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

  10. #60
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by dontworrybehappy View Post
    What nobody realizes is that the day that Obama announces that he has lifted all restrictions on domestic drilling the price of oil, and thus gas, would go down because of the future prospect of a higher supply thus the current oil not being worth as much. How long it takes for the actual oil to be pumped is irrelevant because oil prices are all based on future demand estimates anyway. Trust me I live in a state that is built around oil and offshore drilling and yes, it IS Obama stopping the drilling thus keeping prices high.
    And was it Obama stopping it during the 12 years the Republicans were in control of Congress? The truth is we passed peak oil decades ago in this country, and the Republicans just use "drill baby drill" for a campaign slogan now. Otherwise they would have done it themselves when they were in charge.

    You are aware of the finite availability of fossil fuels are you not?

    "Of the 65 largest oil producing countries in the world, up to 54 have passed their peak of production and are now in decline, including the USA in 1970"

    Peak oil primer and links | Energy Bulletin
    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

Page 6 of 16 FirstFirst ... 45678 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •