Gas Prices

[mindido]

Supa,

"So to say there isn't any proof that supply is there is just counterintuitive."

I'm not sure what you mean here but let me give er a shot. You're correct, I do watch or listen to CNBC and have watched wholesale oil prices falling while retail has gone through the roof. Since there are now 9 or 10 refineries out of action a certain amount of retail price increase is to be expected, but this much?

There is no doubt that oil company profits will be tremendous this year, probably unbelievable. It would seem that since most of these are US companies, they could do more to help out.

Bill O'Reilly actually had another interesting conversation with some guy from the CATO Institute last night. O'Reilly asked this guy what would be wrong with the oil companies VOLUNTARILY cutting their profit margins by 20% "for the good of the country". You should have heard the BS coming out of the guys mouth. It was just another indicator, in my mind, of why we cannot trust the oil companies and why we HAVE to get away from oil dependency ASAP.

As far as the final gas retailers are concerned, I don't THINK we can put a lot of blame on them. On our local news last night they had an interview with one that said he is currently making less than a penny per gallon and most of his profits come from the stuff he sells in the store. I have, of course, heard similar stories over the years (although usually quoting a nickel or dime per gallon profit) so the story is generally accurate.

The bottom line is that the longer we stay addicted to oil, the longer this type of stuff is going to go on. There is no doubt about that.

 

[mindido]

Something a bit more constructive in this thread.

Here are two sites that most everyone should bookmark and use. They show current gas prices in most areas of the US and indicate where you could probably find the cheapest fuel in your area. It won't work for everyone but is better than running around town looking for the cheapest gas.

You also may want to join their sites (I'm pretty sure they're free) to input what you find when your out and about. Help your neighbors out.

http://www.gasbuddy.com/

http://www.gaspricewatch.com/new/

 

[Texan]

The President and each State Governor needs to temporarily wave all associated taxes/gallon of fuel.

BTW the last time a President capped profits on gas companies it failed horribly, not to say that it wouldn't fail this time.

 

[mindido]

Tex,

I think your referring to Nixon back in 73, and your correct. But notice the keywords:

"Bill O'Reilly actually had another interesting conversation with some guy from the CATO Institute last night. O'Reilly asked this guy what would be wrong with the oil companies VOLUNTARILY cutting their profit margins by 20% "FOR THE GOOD OF THE COUNTRY".

The guy from the CATO institute responded with your point. But the point still holds. IF its VOLUNTARY and "FOR THE GOOD OF THE COUNTRY", why shouldn't they do it?

The answer is that they are now equivalent to the robberbarons. There is no difference and hopefully, they will suffer the same fate. If we wake up and get a lot smarter.

 

[Texan]

I agree the oil companies should step to the plate cut their profits for the good of the country, all it will take is one of them to start the ball rolling.

Hopefully now that the refineries only have to produce one blend of regular unleaded they will be able to compensate for the loss of production in La.

 

[mindido]

Tex,

They won't do it unless pressure is applied. Hopefully it will happen because they're really getting a black eye right now. But, in the long term, I'm still expecting them to act just like the robberbarons.

 

[Supafly]

Supa,

"So to say there isn't any proof that supply is there is just counterintuitive."

I'm not sure what you mean here but let me give er a shot.

Conterintuitive - "contrary to what one would intuitively expect."

Supply goes up prices come down.

 

[mindido]

Supa,

I do understand the definition, I just wasn't sure about the exact meaning of the question.

 

[that_guy]

The President and each State Governor needs to temporarily wave all associated taxes/gallon of fuel.

Gov. Sonny Perdue cut the state tax out here in GA so the price is back down to $2.90 give or take a few cents.

 

[mindido]

Heard something interesting this a.m. (I believe it was on CNBC).

A Saudi prince was being interviewed about the current pricing situation. The most interesting thing to me was when he said that they're now setting their target pricing range in the $40 to $50 per barrel range.

If you'll remember correctly, a year ago, that range was set at between $20 to $23 per barrel. A month or so ago, on this forum, I reported that they were changing the range to between $30 to $35 per barrel.

It looks like we'd better get used to this.

 

[cableguy]

mindido, it is with great pleasure that i can direct you to some of my earlier comments regarding opec and artificially inflated prices...

the single formulation rule is only in effect until the middle of next week... sadly...

i live near not one refinery, but two... i recognize they are not clean, and that they smell funny if you are downwind of them, BUT, i also recognize that this economy would collapse without them... gasoline is but a small fraction of what petroleum becomes...

there is but one reason for being upset that a company, for whatever reason, doesnt VOLUNTARILY cut its profits... that single reason is a burning hatred of capitalism... period...

the reason i want a suburban or full size pickup is because i like to be able to haul stuff, want to buy a boat, and want the safest vehicle i can get for me and my family... and i refuse to allow a minor thing like a gas price increase to alter my life...

 

[Iceberg]

and want the safest vehicle i can get for me and my family...

If this is the case, then buy a Volvo. Volvos are far more secure than any other vehicle on the market. Even a Volvo SUV would be better than a Suburban, since it is about 5 mpg better on gas.

 

[elmerfudd]

I'd like to see the U.S. go from being so dependent on crude . I know there is other alltournative fuels . But the automobile manufacturers and oil companys have to get on board with this . Americans are built on convenience , drive thurs , convenient stores . These are things we have come to rely on, if not demand. I know, if I had to drive 40 miles to get alltournative fuel for my car I would not be getting an alltournative fuel car. The Government needs all future gas stations to offer an alltournative fuel pump. And those that are out there now have only solong to do the same. I'm not saying to do away completely with crude, but if I can run my car off alcohol made from a potato . I'm planting a garden . I love the big V8's , the sound of the engines. But if I can save money going back and forth to work with an alltournative fuel . Then, I'll wait till the weekend to drive that V8. Thats about all I can aford now anyway. If that ! And I don't look good on a mope-head . And I need all the help I can get !

 

[Ma'elKoth]

You can run any engine off of any kind of oil. You can run an engine on Canola Oil if you had to, the only thing is the preperation for it to be able to be burned. 1 you have to have an enigine modification, 2 you have to refine it... There's a local guy that does it, my brother inlaw went to ask him what it would take, in the end there's really no price difference... Oil companys need to be less selfish, they hike the price because they're scared... MY ASS... the government even gave them a stipend i beleive, the truth is right now they're making 3 times as much as they were before, there's no reason for them to be so greedy. I agree we should put more money into alternative fuel source research and development.
I wish they'd hurry up making Anti-Matter more stable, it gives you a 100% energy return... In other words 1 gram would power New York City for a week...

 

[Cer[v]3r]

Umm this is off topic but... Why does v8/v12 spend more gas?

Oh yes... Down here, The gas is 3.15 a gallon

 

[mindido]

cable,

I don't know if there is a cure for being myopic, but I'll look into it. You know, why are you so upset about OPEC? Your a free market capitalist, they're doing exactly what that philosophy suggests. I would think that you would be bowing at their feet praying for them to make even more profits.

And if you want to live near a refinery, thats your choice. Just remember that there is a lot of research which suggests you and your children will have a much higher incidence of cancer and leukemia than the rest of the population. You want to drive a gas guzzler, go ahead, spend as much as you want on fuel. That still doesn't change the fact that that isn't the smartest thing to do.

"there is but one reason for being upset that a company, for whatever reason, doesnt VOLUNTARILY cut its profits... that single reason is a burning hatred of capitalism... period..."

Jeez cable, it wasn't me that came up with the idea, it was your hero Bill O'Reilly! And he certainly qualifies as having, "a burning hatred of capitalism... ". I've always thought he was one of those commie, pinko types.

Cer[v]3r,

"Why does v8/v12 spend more gas?"

I think you mean, "Why does v8/v12 USE more gas?" If thats accurate then heres a brief explanation (the actual answer is more complex, do a google search on the internal combustion engine for better info). Heres one link:

http://www.answers.com/topic/internal-combustion-engine

First, there are very few v12 motors being manufactured for automobiles today. The only ones I can think of are Ferrari and Lamborgini but I'm sure there are a few others. And if you can afford one of those (about $100,000 minimum new), the price of gasoline is a minor annoyance.

A v8 has twice the amount of cylinders than a 4 cylinder (of whatever configuration) or 2 more than a 6 cylinder. So, in general (depending on the engineering), a v8 will use twice as much fuel to run those extra cylinders. But a v8 should also produce about twice the power of the 4 cylinder.

Please remember, these are vague generalities only meant to basically answer your question. In reality, there are many components (carbs, fuel injection, etc.) that can be tweaked to significantly modify power and fuel consumption. Just as one example, a few years ago I saw a little BMW 4 cylinder with twin turbos blow the doors off Corvettes and Porsche 935s for an entire season (really pissed a lot of people off).

 

[cableguy]

cerv, v-8 is an engine with 8 cylenders in a v shaped pattern, v-12 is 12 cylenders in a v pattern... generally speaking, the more cylenders, the larger displacement of the engine, and the larger the displavement, the more fuel needed to run it... also, more power!!!

mindido, i am a FREE MARKET capitalist... opec doesnt play in a free market... if they did, they wouldnt be talking about a target price for a barrel of oil, or be able to set such a price...

if bill oreilly was the one advicating this profit rejection nonsense, then he should be called on the carpet as an anti-capitalist... the idea is as ludicrous as it would be had it come from a more likely source, and just as wrong-headed... giving should be done of good will, not because of force...

 

[mindido]

cable,

Please refer to post #125.

And the oil companies are free market? Just one quote I found yesterday:

Forbes Magazine's Elizabeth MacDonald accused the oil companies of price gouging. "They're jacking up prices to whatever the local markets will bear. You expect fair competition, but they're chasing independent gas stations out of the market. There is not fair competition."

Forbes Magazine, another one of those really commie mags.

 

[Cman]

I haven't read any of this, so forgive me for not knowing where the discussion is, but I'd just like to say that Americans need to STFU about their gas prices.

Sure your gas is expensive, but so is everyone else's. I did a little calculations and coverting gallons to litres and such, your gas, albeit more expensive than usual, is still probably the CHEAPEST gas in the world!! (relatively speaking)

So stop complaining, because Canada and Europe (not to mention the less advantaged countries) are much worse off.

Right now in my city, gas is over $1.30 a litre. After all the conversions and such, this works out to over $5.00 a gallon (in the US). When I was in Florida a few weeks ago, the gas there was only like $3.50 a gallon, or there abouts.

When you are getting anally gas raped like Europe is, THEN you can complain.

Thank you.

 

[Gibson]

^2.

Last week, gas prices in PEI were going to increase by $.08/litre, the most I've ever seen. This would put prices at around $1.09/litre. By 5:00pm the same day, prices were $134.5/litre. Per gallon, this is around $5.38, I believe. When I moved to PEI six years ago, prices were $.49/litre.

Europe is still more expensive today.