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- - F... gas prices (http://www.thewarpath.net/showthread.php?t=12070)

Re: F... gas prices

[quote=Daseal;794090]Simple supply and demand. Some of the largest countries in the world are becoming industrialized. With the rise of demand from India and China there's no doubt prices will go up. I love how people love to preach free market and capitalism -- then bitch when oil companies charge more for gas. They should be doing what nets them the highest profit. Who here has stopped driving? I haven't. It will take a much high price to get me to quit as well.

It's time to start finding renewable energy sources. Not bitch about gas prices.[/quote]

India China are taking up alot more gas. Also gas prospect buying hurts as well. Simply put, people buy up oil which drives the price up, wait alil while, then sell back the oil at the higher rate. Read an article a few years ago where a european rich guy bought a ton of oil then rented out big cargo boats and kept the barrels of oil at the dock, waited for the prices to rise then sold back the oil at a profit.

To your point about capitalism, if the prices of gas get insane then capitalism should kick in and companies will realize there is a huge high return market for alt fuel vehicles. IMO capitalism at its basic core just means if a market/company is out of whack another person/company/market will find a way to do it for cheaper.

As the gas prices go higher = people developing alt fuel vehicles increases.

One day OPEC and these oil rich countries will be hanging by a financial noose b/c they got too greedy and forced us to turn to alt fuel sources. Cant wait for the day and its coming, id give it 20 years. Not that oil will never be used, its used in everything from shoes to soap, etc.

Re: F... gas prices

[quote=Mattyk;794228][URL="http://www.cnn.com/2011/TECH/innovation/04/19/oil.sands.extreme.energy/index.html?iref=allsearch"]Welcome to the era of 'extreme energy' - CNN.com[/URL]

[URL="http://www.cnn.com/video/#/video/bestoftv/2011/04/18/exp.nr.talkback.gasideas.cnn?iref=allsearch"]Video - Breaking News Videos from CNN.com[/URL]

[URL="http://www.cnn.com/video/#/video/bestoftv/2011/04/18/exp.ym.xyz.gas.prices.cnn?iref=allsearch"]Video - Breaking News Videos from CNN.com[/URL]

[URL="http://politicalticker.blogs.cnn.com/2011/04/18/political-hot-topics-monday-april-18-2011/?iref=allsearch"]POLITICAL HOT TOPICS: Monday, April 18, 2011 – CNN Political Ticker - CNN.com Blogs[/URL]

Yup, CNN is clearly ignoring the issue[/quote]

You can't possibly admit it's getting the same attention or vitriolic ranting and raving.

[URL="http://newsbusters.org/blogs/julia-seymour/2011/03/01/networks-link-bush-skyrocketing-gas-prices-15-times-more-obama"][/URL][url]http://www.mrc.org/bmi/articles/2011/Networks_Link_Bush_to_Skyrocketing_Gas_Prices__Times_More_Than_Obama.html[/url]

[B]Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama[/B]

[LEFT][COLOR=#000000][quote] As gas prices rose in 2008, network reporters mentioned President Bush in 15 times as many stories than they brought up President Obama in a similar period in 2011.
[B]Bush drew gallons of coverage in 2008[/B]. Comparing a 20-day span of rising gas prices in 2008 to 24 days of rising prices in February 2011, the Business & Media Institute found the networks did more than 2 ½ times as many stories during the Bush years versus Obama.
Unrest in the Mideast has hit American consumers hard, driving up gas prices that had already been above $3-a-gallon since Dec. 23. The national average for gasoline hit $3.36 on Feb. 28, the [URL="http://www.washingtonpost.com/wp-dyn/content/article/2011/02/28/AR2011022801758.html"]highest ever for the month of February[/URL] according to The Associated Press. But the amount of network news coverage of rising gas prices did not reflect it.
All three broadcast networks together averaged just one story about rising gas prices per day. In contrast, when gas prices rose similarly in 2008, the networks averaged more than one story, per network, per day.
It took 24 days, from Feb. 1, to Feb. 24 for the national average for unleaded gasoline to climb from $3.101 to 3.228. The last comparable period of "eye-popping" gas prices: the 20 days between Feb. 21, 2008, and March 11, 2008, when the national average climbed from $3.086 to $3.227.
Some 2008 reports including the March 6, 2008, "Early Show" exaggerated the already rising prices by emphasizing extremely high prices. That morning CBS showed viewers a California gas pump that was charging $5.19-a-gallon for regular unleaded before mentioning the national average for that day, which was $2.02 lower. Some 2011 reports have reversed that trend by downplaying the impact of currently high gas prices on consumers by using words like "inching" to describe rising prices, or calling U.S. prices "a bargain compared to Europe."
The Business & Media Institute examined all the broadcast network news reports mentioning gas prices during each of those time periods and found ABC, CBS and NBC aired more than 2 ½ times more stories (63 stories to 24) in 2008 than they did in 2011.
But it was more than just the amount of coverage that showed the media's willingness to spin gas prices one way under Bush, and another way under Obama. In 2008, network reporters mentioned "Bush," the "president" or "government" in gas price reports 15 times more often than in 2011 under President Obama (15 stories to 1). A number of stories portrayed Bush as out-of-the-loop when he was asked about the possibility of $4-a-gallon gas and hadn't yet heard that prediction.
In contrast to the 15 reports referencing the Bush administration when gas prices were "through the roof," the only 2011 story to mention the president was NBC "Nightly News" on Feb. 24. Tom Costello's report on the impact of surging gas prices quoted President Obama who was "optimistic."
Obama said, "We actually think that we'll be able to ride out the Libya situation and it will stabilize." Costello didn't question the president's statement or mention any of the administration's policies that will constrict the supply of oil and gasoline and could further increase the price of gasoline for consumers.

[B]Networks Fail to Mention Obama's Anti-Oil Actions[/B]
President Obama is the most anti-oil president in years and has taken specific steps to limit domestic oil production including a [URL="http://www.nytimes.com/2010/10/13/us/13drill.html?_r=1"]moratorium on deepwater drilling[/URL] in May 2010 after the BP spill and the recent imposition of new regulations on the industry. Yet, the networks refused to notice in the recent gas prices stories BMI analyzed, just [URL="http://www.mrc.org/bmi/articles/2010/Gas_Prices_Back_Above__Networks_Dont_Question_Obama_Policies.html"]as they did[/URL] in December 2010.
Not a single one of 2011 stories about rising gas prices BMI examined brought up any of Obama's anti-oil policies despite the impact they could have on supply and prices.
Obama's drilling ban was overturned by a federal court judge in June, but his administration continued to enforce it. On Feb. 3, Bloomberg reported that the administration "[URL="http://www.businessweek.com/news/2011-02-03/u-s-in-contempt-over-gulf-drill-ban-judge-rules.html"]acted in contempt[/URL]" of court by doing so.
U.S. District Judge Martin Feldman ruled on June 22, 2010, that the ban was "overly broad," according to Bloomberg. The following month Interior Secretary Ken Salazar put a second moratorium into effect, but voluntarily lifted it in October.
Some industry insiders claim there is still an "informal moratorium" on offshore drilling. "President Obama claims to have lifted the Gulf moratorium, yet not a single deepwater permit has been issued in nine months," Jim Adams, the Offshore Marine Service Association's president, said in a press release quoted by Bloomberg.
Adams said the consequences have been thousands of lost jobs and higher prices for gasoline and heating oil. At least one company, Seahawk drilling, has filed for bankruptcy blaming [URL="http://blogs.forbes.com/richardlevick/2011/02/23/a-decisive-moment-for-the-energy-industry-political-agendas-roil-murky-waters-four-months-after-gulf-drilling-ban-lifted/"]Obama administration policies[/URL].
The Heritage Foundation wrote on Jan. 11, 2011, that only two new deepwater permits have been issues since the end of the Obama moratorium, "[URL="http://blog.heritage.org/?p=49835"]down 88 percent from the historical average[/URL]." Heritage also said shallow-water permits are down 11 percent. The Obama administration has also cancelled four pending lease sales in Alaska and reinforced existing offshore drilling bans, which prevent exploration in 85 percent of coastal waters.
"The lack of exploration and production means fewer jobs for out-of-work Americans and less money flowing into federal coffers," Heritage concluded.
Action on at least several of those permits may be forthcoming now that Feldman has ordered Salazar to decide on [URL="http://www.investors.com/NewsAndAnalysis/Article/563751/201102181908/Deep-Water-Permit-OKs-On-Horizon.aspx"]five permit applications[/URL] from Ensco within 30 days.
Investor's Business Daily argued in a recent editorial that the Obama administration is intentionally allowing prices to spike in order to make green energy more desirable.
On the issue of rising prices, IBD editorialized: "It's not just Mideast turmoil that has brought us to this point. [URL="http://www.investors.com/NewsAndAnalysis/Article/564290/201102251830/Does-Obama-Want-8-Gasoline-.htm"]It's also a deliberate program of restricting domestic energy to make so-called green energy more attractive and necessary, keeping an Obama campaign promise that energy prices would 'necessarily skyrocket' on his energy agenda[/URL]."

[B]What High Gas Prices Mean for the U.S. Economy?[/B]
Moratoriums and permit delays have already costs jobs and threatened businesses and "soaring" gas prices could damage the fragile U.S. economy even more. Some analysts have predicted $5-a-gallon gasoline which would be "devastating," but "serious" consequences could result even if prices only reach the $3.75-a-gallon range.
AP reported that some [URL="http://www.washingtonpost.com/wp-dyn/content/article/2011/02/28/AR2011022801758.html"]businesses[/URL] are already taking the hit for extra fuel costs because they don't think the economy is strong enough to pass it on in the form of higher prices.
In that same report, AP quoted Oil Price Information Service's chief oil analyst Tom Kloza. "[He] believes that the normal seasonal rise in prices has been pulled ahead by events in the Middle East, but he still expects prices to rise further. He predicts prices will reach $3.50 to $3.75 per gallon, barring more chaos in the Middle East," AP said.
Kloza said that would have "very serious consequences for the economy."
AP also reported that, "Over a year, analysts estimate, oil at $100 a barrel would reduce U.S. economic growth by 0.2 or 0.3 of a percentage point. Rather than grow an estimated 3.7 percent this year, the economy would expand 3.4 percent or 3.5 percent. That would likely mean less hiring and higher unemployment."
According to John Challenger, chief executive officer of global outplacement firm Challenger, Gray & Christmas, rising fuel prices be the "biggest obstacle yet" to job growth. Challenger said in a release, "Companies will be reluctant to pass along their higher fuel costs to consumers. So, the more companies are required to spend on fuel, the less they have to spend on expansion and hiring."
Higher prices, such as the $5-a-gallon prediction would be even worse for the economy. University of Maryland economist Peter Morici told BMI: "$5-a-gallon would be devastating if it's in 2011, if it's in 2014 it might not be devastating. But right now, if we went to that by July it would kill the recovery. It is unlikely that we will get to $5-a-gallon because it would kill the recovery before that point and then prices would go down."
[/quote][/COLOR][/LEFT]

Re: F... gas prices

People are simply more numb to gas prices now then they were 3 years ago. Plus we have bigger fish to fry these days, back before the market went belly up in late 2008 $4 gas was an easy target. These days, not so much.

Re: F... gas prices

[quote=Mattyk;794238]People are simply more numb to gas prices now then they were 3 years ago. Plus we have bigger fish to fry these days, back before the market went belly up in late 2008 $4 gas was an easy target. These days, not so much.[/quote]

So in your opinion how much higher will it go before the market starts to crash again? I was talking to my manager today, and he thinks gas will reach 6.00 a gallon before the government intervenes or their is a collapse again...

Re: F... gas prices

$6/gallon isn't going to cause an economic collapse. I think prices would have to climb a lot higher than that to have a big impact or for the gov't to step in.

Re: F... gas prices

[quote=Daseal;794090].....I love how people love to preach free market and capitalism -- then bitch when oil companies charge more for gas.....

It's time to start finding renewable energy sources. Not bitch about gas prices.[/quote]I agree we should be working on renewable energy, but the side of the free market being squeezed for the U.S. is the supply side. If the Obama Admin would allow the development of our existing supplies in Alaska, offshore, etc. we could keep our prices reasonable, while at the same time squeezing the economies of folks who we aren't getting Christmas cards from (Venezula, Middle East, etc.). But the Obama Admin and congressional Dems wants higher gas prices to force more "alternative energy" and "public transportation" projects which are as of right now, not cost efective.

[url=http://www.nytimes.com/gwire/2011/02/03/03greenwire-shell-cancels-2011-arctic-drilling-plans-18881.html]Shell Cancels 2011 Arctic Drilling Plans - NYTimes.com[/url]

[url=http://www.bloomberg.com/news/2011-02-03/u-s-administration-in-contempt-over-gulf-drill-ban-judge-rules.html]U.S. in Contempt Over Gulf Drill Ban, Judge Rules - Bloomberg[/url]

[url=http://blog.heritage.org/2010/12/29/morning-bell-obama-wants-you-to-pay-more-at-the-pump/]Obama Will Make You Pay Higher Gas Prices | The Foundry: Conservative Policy News.[/url]

[url=http://blog.heritage.org/2011/01/03/obamas-offshore-ban-already-cutting-domestic-energy-supply/]Offshore Ban and Rising Gas Prices | The Foundry: Conservative Policy News.[/url]

Re: F... gas prices

[quote=Monkeydad;794235]You can't possibly admit it's getting the same attention or vitriolic ranting and raving.

[URL="http://www.mrc.org/bmi/articles/2011/Networks_Link_Bush_to_Skyrocketing_Gas_Prices__Times_More_Than_Obama.html"]Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama[/URL]

[B]Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama[/B]

[/quote]

[COLOR=black][FONT=Verdana]WOW, REDICULOUS...[/FONT][/COLOR]

[COLOR=black][FONT=Verdana]Ive been really busy and havent watched any tv for a week until last night (just watched my boy Glenn Beck, though). I just don’t understand how news channels can just flat out ignore things or take opinion or biases on events. Maybe theres been other big things going on; Japan clean up, severe weather? Maybe it isnt as big of a story the second time around within a few year period?[/FONT][/COLOR]

[COLOR=black][FONT=Verdana]Either way its times like these I love my 4 cyl 5 speed Honda accord. I get around 31-33 on the highway and average about 28 total in that sucker. Also whats scary is it’s not even summer and you have to think gas prices are gonna continue to go up. Every year I talk about how im going to buy an oil price etf before summer. This year I finally did around late January/early feb so im slightly hedged. [/FONT][/COLOR]

[COLOR=black][FONT=Verdana]I honestly think a sustained 6 dollar mark will have a drastic impact on our economy. Most people I know are cutting back and/or changing their driving habbits. This time around people are more prepared or more ready for it, but after a couple months of paying 4 dollars and IF prices continue to rise to 6 or so people are going to be hurting big time.[/FONT][/COLOR]

[COLOR=black][FONT=Verdana]Either way I guarantee you new networks wont be ignoring headlines of 6 dollar gas, even 5 dollars might be psychological barrier when news stations starting focusing on Pain at the Pump 2011 [/FONT][/COLOR]

Re: F... gas prices

[quote=Slingin Sammy 33;794263]I agree we should be working on renewable energy, but the side of the free market being squeezed for the U.S. is the supply side. If the Obama Admin would allow the development of our existing supplies in Alaska, offshore, etc. we could keep our prices reasonable, while at the same time squeezing the economies of folks who we aren't getting Christmas cards from (Venezula, Middle East, etc.). But the Obama Admin and congressional Dems wants higher gas prices to force more "alternative energy" and "public transportation" projects which are as of right now, not cost efective.

[URL="http://www.nytimes.com/gwire/2011/02/03/03greenwire-shell-cancels-2011-arctic-drilling-plans-18881.html"]Shell Cancels 2011 Arctic Drilling Plans - NYTimes.com[/URL]

[URL="http://www.bloomberg.com/news/2011-02-03/u-s-administration-in-contempt-over-gulf-drill-ban-judge-rules.html"]U.S. in Contempt Over Gulf Drill Ban, Judge Rules - Bloomberg[/URL]

[URL="http://blog.heritage.org/2010/12/29/morning-bell-obama-wants-you-to-pay-more-at-the-pump/"]Obama Will Make You Pay Higher Gas Prices | The Foundry: Conservative Policy News.[/URL]

[URL="http://blog.heritage.org/2011/01/03/obamas-offshore-ban-already-cutting-domestic-energy-supply/"]Offshore Ban and Rising Gas Prices | The Foundry: Conservative Policy News.[/URL][/quote]

You forgot this link:

[ame=http://www.youtube.com/watch?v=BqHL404zhcU]YouTube - Barack Obama Admits: Energy Prices Will Skyrocket Under Cap And Trade[/ame]

Re: F... gas prices

[quote=Daseal;794090][B]Simple supply and demand.[/B] Some of the largest countries in the world are becoming industrialized. With the rise of demand from India and China there's no doubt prices will go up. I love how people love to preach free market and capitalism -- then bitch when oil companies charge more for gas. They should be doing what nets them the highest profit. Who here has stopped driving? I haven't. It will take a much high price to get me to quit as well.

It's time to start finding renewable energy sources. Not bitch about gas prices.[/quote]

[COLOR=black][FONT=Verdana]But its not so simple. So 2005 was hurricane Katrina and that was primarily a true simple supply and demand problem (plenty of oil, not so many refineries to make gas). 2008 was primarily a oil and commodities speculation problem as is today. There are plenty of barrels of oil out there to indicate much lower prices, its just that there are also a lot of speculators out there for a whole lot of reasons (Middle East unrest, Japan, Obama energy policies, current monetary policy, summer driving and gas blends, hurricane season approaching, Emerging Market growth, global warming, Gulf drilling restrictions, refinery building restrictions, shrinking oil reserves, ect). [/FONT][/COLOR]

[COLOR=black][FONT=Verdana]Its not like there are only 1000 hotdogs for sale at a baseball game with 50,000 people and the venders are bidding the price up. Theres plenty of hotdogs for this baseball game, its just concern about next seasons baseball game that’s driving the price up for today’s matchup. Plus its not even the fans in attendance or venders that are driving up the price of hotdogs, its people watching the game at home biding on contacts that outnumber the number of hotdogs 10,000 to 1. [/FONT][/COLOR]

[COLOR=black][FONT=Verdana]Derivatives anrt so cut and dry as a baseball game hotdog (no almost-pun intended!) and are really hard to understand especially in depth but most scholars think that they add to market efficiencies. I wonder if people biding on contracts that have no underlying physical holding creates the opposite effect, especially when it comes to things that can affect people lives like food and oil. [/FONT][/COLOR]

Re: F... gas prices

[quote=Mattyk;794238]People are simply more numb to gas prices now then they were 3 years ago. Plus we have bigger fish to fry these days, back before the market went belly up in late 2008 $4 gas was an easy target. These days, not so much.[/quote]

It happens like this almost every time it goes up. Basically it'll get up to well over $4, then back down to like $2.50 and we'll all be like YAY! and it'll steadily climb back up to hover around $3 and we'll all think it's the greatest thing ever. The past three times gas has gone up it goes way up, goes way back down, then settles higher than it was before it went up. Totally agree about being numb. :(

Re: F... gas prices

[quote=Mattyk;794247]$6/gallon isn't going to cause an economic collapse. I think prices would have to climb a lot higher than that to have a big impact or for the gov't to step in.[/quote]

It may not cause an economic collapse but it may cause another recession. Another $2/gallon would cause prices to increase on the majority of goods sold especially food, put companies out of business, etc, etc. It would cause significant harm to our already damaged ecomony.

Re: F... gas prices

[quote=redsk1;794293]It may not cause an economic collapse but it may cause another recession. Another $2/gallon would cause prices to increase on the majority of goods sold especially food, put companies out of business, etc, etc. It would cause significant harm to our already damaged ecomony.[/quote]

Yeah I have to agree you would be doubling folks fuel budget. It has a trickle effect people still spend the money on gas becasue they have too but they have to pull back in other areas, like going out to eat, the movies, toys, etc...

Re: F... gas prices

[quote=Monkeydad;794235]You can't possibly admit it's getting the same attention or vitriolic ranting and raving.

[url=http://www.mrc.org/bmi/articles/2011/Networks_Link_Bush_to_Skyrocketing_Gas_Prices__Times_More_Than_Obama.html]Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama[/url]

[B]Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama[/B]

[/quote]

Saw this over the weekend:

As Obama targets traders, some media analysts argue that he is getting a free ride on the skyrocketing prices compared to former President [URL="http://www.foxnews.com/topics/politics/george-bush.htm#r_src=ramp"][COLOR=#0066cc]George W. Bush[/COLOR][/URL] who was largely blamed for soaring hikes near the end of presidency in 2008.

"The numbers are fascinating… There were 280 network news stories" dealing with the issue of recent rising gas prices, Brent Bozell, president of Media Research Center, told Fox News. "Only three, three out of 280 mentioned the Obama administration's responsibility in this."

Bozell argued that the administration does deserve some blame for the prices since isn't looking at its own actions affecting higher gas costs.

"Whereas the Republicans wanted to drill more, and still want to drill more … drilling is down 13 percent in the last year," he said. "That is a huge, huge contributor to the problem we have of rising gas prices."

[url=http://www.foxnews.com/politics/2011/04/22/obama-form-task-force-tackle-rising-gas-prices/]Obama Eyes Speculators for Rising Gas Prices, as Other Factors Play Role - FoxNews.com[/url]

Re: F... gas prices

$ 83.00 to fill up, thanks again Obama Admin.

[URL="http://www.foxnews.com/us/2011/04/25/energy-america-oil-drilling-denial/"]Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans - FoxNews.com[/URL]

"The EPA did not return repeated calls and e-mails. [B]The Environmental Appeals Board has four members: Edward Reich, Charles Sheehan, Kathie Stein and Anna Wolgast. All are registered Democrats and Kathie Stein was an activist attorney for the Environmental Defense Fund. Members are appointed by the EPA administrator.[/B] Alaska’s Republican senator thinks it’s time to make some changes."

Re: F... gas prices

The Obama gas task force is going to do the same job as the Obama everything else. It wont do shit, and the american people will be left feeling the pain.

Seriously though, the government can't do jack shit about the price of gas.

Re: F... gas prices

$4.17 now here in west Michigan.
This economy is so fecked up its ridiculous.

Re: F... gas prices

[quote=SolidSnake84;795187]The Obama gas task force is going to do the same job as the Obama everything else. It wont do shit, and the american people will be left feeling the pain.

Seriously though, the government can't do jack shit about the price of gas.[/quote]Actually it can, by permitting or declining requests to increase domestic production.

Re: F... gas prices

[quote=Slingin Sammy 33;795182]$ 83.00 to fill up, thanks again Obama Admin.

[URL="http://www.foxnews.com/us/2011/04/25/energy-america-oil-drilling-denial/"]Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans - FoxNews.com[/URL]

"The EPA did not return repeated calls and e-mails. [B]The Environmental Appeals Board has four members: Edward Reich, Charles Sheehan, Kathie Stein and Anna Wolgast. All are registered Democrats and Kathie Stein was an activist attorney for the Environmental Defense Fund. Members are appointed by the EPA administrator.[/B] Alaska’s Republican senator thinks it’s time to make some changes."[/quote]

Cost me $72 to fill up my 18 gallon tank on Saturday. That stings.

Re: F... gas prices

Let's hope this is the case

[url=http://www.cnn.com/2011/US/04/25/gas.prices/]Gas prices rise slower, may have peaked - CNN.com[/url]

Re: F... gas prices

[quote=Mattyk;795222]Let's hope this is the case

[URL="http://www.cnn.com/2011/US/04/25/gas.prices/"]Gas prices rise slower, may have peaked - CNN.com[/URL][/quote]

With SS33's article a few posts above, I don't see how it's possible.

Re: F... gas prices

[quote=GMScud;795209]Cost me $72 to fill up my 18 gallon tank on Saturday. That stings.[/quote]

i honestly don't even look anymore, i'm in between trucks right now and i'm driving a 1997 chevy ho, she has a 27 gallon tank on her and she loves to drink. gas is easily costing me over $400.00 a month right now :(

Re: F... gas prices

So our government can intervene in MLB, NFL, NBA strikes/lockouts, and other related issues concerning steroid use, but it can't intervene on a huge economic impact such as gas prices where they know good and god damn well these "speculators" are gouging people out the ass.

**** big oil corporations and **** these politicians. I suggest you guys watch a film called Casino Jack. It's based off the true events of DC lobbyists and politicians. It'll make you hate your government.

Re: F... gas prices

They Government IS intervening, they've applied a drilling moratorium and are giving billions to South American nations to help them drill there. Just because they're not intervening with our interests in mind doesn't mean they're ignoring the issue.

Re: F... gas prices

For all the "speculation", the oil companies' profit margins are not spectacularly high.

Re: F... gas prices

Exxon Mobil's first-quarter profit surges 69% to $10.7 billion due to higher oil and natural gas prices.

Glad to see the oil companies profitting in these tough times

Re: F... gas prices

$4.20 in CA. It cost me over a $100.00 to fill my tank!

Re: F... gas prices

[quote=Riggo44;796388]$4.20 in CA. It cost me over a $100.00 to fill my tank![/quote]

Thats crazy. If gas was 4.20 here, it would cost my dad $126.00 to fill up his work truck each week...

Re: F... gas prices

[quote=Chico23231;796247]Exxon Mobil's first-quarter profit surges 69% to $10.7 billion due to higher oil and natural gas prices.

Glad to see the oil companies profitting in these tough times[/quote]

That's because people keep on buying oil products, and that number will only increase. After all, gas is not the only product derived from oil. I wouldn't expect their profits per capital to actually be that high. They have customers from all over the world buying their products.

FYI
These reported profits actually are what's left over after paying all the "bills"(taxes, wages, interest). The technical term is "net profits".

Net Profits actually only go to two places:
1. Retained earnings to reinvest in the company. Buy new equipment, do R&D, etc
2. Stockholders via dividends.

Now, whether or not they are actually doling all of the profits for either task is a different matter.

Re: F... gas prices

[quote=SirClintonPortis;796496]That's because people keep on buying oil products, and that number will only increase. After all, gas is not the only product derived from oil. I wouldn't expect their profits per capital to actually be that high. They have customers from all over the world buying their products.

FYI
These reported profits actually are what's left over after paying all the "bills"(taxes, wages, interest). The technical term is "net profits".

Net Profits actually only go to two places:
1. Retained earnings to reinvest in the company. Buy new equipment, do R&D, etc
2. Stockholders via dividends.

Now, whether or not they are actually doling all of the profits for either task is a different matter.[/quote]

sure, but a 10 billion quarter is pretty damn solid

Re: F... gas prices

[quote=Chico23231;796523]sure, but a 10 billion quarter is pretty damn solid[/quote]

Impressive, yes, if we solely look at the magnitude. But if we consider that their [B]total revenues [/B]--how much they get BEFORE deducting expenses-- are 100 billion, one can certainly see that how much they keep for themselves(the net profit) is quite a low percentage to how much they doled out(total revenue). Hence their [I]margin[/I](net profit divided by net revenue) is actually only around 9-10%

Got my numbers from here:
[url]http://www.nytimes.com/2011/02/01/business/01oil.html[/url]

Re: F... gas prices

[quote=Monkeydad;796320]$4.10 now![/quote]

Damn! Jumped over a nickel overnight...$4.16 this morning.

I better fill up now, before it goes up any more. Have to drive to Long Island in a few days, better get it while it is "cheap". :angry-smi

Re: F... gas prices

[quote=SirClintonPortis;797601]Impressive, yes, if we solely look at the magnitude. But if we consider that their [B]total revenues [/B]--how much they get BEFORE deducting expenses-- are 100 billion, one can certainly see that how much they keep for themselves(the net profit) is quite a low percentage to how much they doled out(total revenue). Hence their [I]margin[/I](net profit divided by net revenue) is actually only around 9-10%

Got my numbers from here:
[URL]http://www.nytimes.com/2011/02/01/business/01oil.html[/URL][/quote] Agreed. Here's some more numbers that show a 7.7 - 8.8% range of profit. All while taking major financial risk.

[URL="http://www.google.com/finance?fstype=ii&q=NYSE:XOM"]Financial Statements for Exxon Mobil Corporation - Google Finance[/URL]

To those who like to kick and scream about oil company profits, shall we discuss how the fed/states/localities benefit for taxation of a gallon of gas? Not to mention taxes on the oil companies revenue.

[URL="http://www.api.org/statistics/fueltaxes/index.cfm"]Motor Fuel Taxes[/URL]

Re: F... gas prices

It's not only the oil companies that people are mad at. My friend is in Qatar right now, he's paying 48 cents a gallon.

Re: F... gas prices

A local gas station just went from $3.93 yesterday to $4.20 today. WTF?

Re: F... gas prices

[quote=tryfuhl;799091]It's not only the oil companies that people are mad at. My friend is in Qatar right now, he's paying 48 cents a gallon.[/quote]

He's getting royally screwed. It's 12 cents a gallon in Venezuela.

Re: F... gas prices

Sorry, but I can't see how anybody in their right minds would be making excuses for the oil companies. They are making profits hand over fist. I don't care what the reason is for the increased gasoline and other fuel prices, it's ridiculous and needs to end.

Re: F... gas prices

$4.29 here now.

:soapbox:

Re: F... gas prices

The only good news about gas prices is that I filled up my boat at around $2.80 and its now at $3.85. That saves me about $150 on that one tank. If I run down to empty and then fill up it will cost me around $624 to fill up the tank. Friends will learn quick that there are no more free rides because even a short trip will cost $100.