Gas Prices

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I fill up 2 times a week at about $50 a fill, $100 a week, about $500 a month. That equals out to about $6,000 a year just to fill the stang.

Yeah that is truly sickening. It makes me queasy.

Unfortunately, I think the car I have now (an '08 Mustang V6) will probably be the LAST gasoline-powered car I ever own. It's not that I want it to... but by the time I get ready for another car, gas will be so expensive that I won't be able to afford it.

I expect my current car to last me about 10 years before I need to find something more efficient. By then... please let their be something else.

Anyone know the sustainability of natural gas? How much there is in the world, how long it will last and how long prices will remain cheap?

I heard a report the other day that claimed natural gas is going for the equivalent of about 55 cents a gallon. That sounds great... but in 10-15 years, will NG be in the same boat as gasoline is now?

Back in the 60s... gas was like natural gas is today in terms of price and public perception.
 
The oil deposit in Brazil is 33 billion barrels. That's coming onto the market in about 4-5 years. They are not beholden to OPEC, so they will pump as much as they can.
Then there is the shale oil being brought out of the Green River project in the United States, more oil than there than in the middle east.
Many more refineries are being built.
The chicken littles out there are liberal tree hugging fools.
Cars are getting smaller and more fuel efficient.
I'll say it again, these are public companies, don't b*tch, invest. You'll make enough in dividends to feed your Mustangs for years to come. I have...
 
I've read that currently the world is at 99% of refining capacity, which helps explain why the price of refined fuels is so volatile. Even small shortages or political tensions and such can cause big ripples in the prices.

Personally, I'm getting ready to go on the ramen diet so that I can continue to feed my two hungry muscle cars. :D

Wrong.

http://www.marketwatch.com/news/sto...x?guid={6634214A-A8E7-423F-9A0A-C5119FC8661C}

Article covering slumping US demand, China/India growth, and the amount of investment dollars being dumped into the market.

"Even if the fundamentals in general, particularly this quarter, were to weaken, we would think investment flow could be pushing prices to records anyway,'' Wittner said.

http://www.irvingoil.com/dloads/petro/Petroleum Street Talk 031708C.pdf

This article above is about how gasoline production is actually losing money.

Also, we can attribute this recent rise in gas prices to the housing crash. Because of it, everybody has jumped ship to the commodities market because it has performed so well and everything else has dumped on us.
 
"HOUSTON (AP) - Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday that record crude prices helped its first-quarter profit climb 17 percent to $10.9 billion - the second-biggest U.S. quarterly corporate profit ever. "

Gee - I wonder why it is the second-biggest US quarerly corporate profit ever... Thats because we are paying over 4 dollars for a gallon of gas! Boy - this really frustrates me.

I understand the theory of how the housing market could be playing an effect on all of this.... But 10.9 Billion in profit for 1 quarter??? Come on - how can any body in their right mind stick up for this.. I understand its a business, but whats going to happen next?? Other things we need such as clean water, food, etc... Are they all going to double or even tripple in price within a year?

I bet those oil tycoons who own Exxon Mobil Corp are livin the big life.

http://money.aol.com/news/articles/_a/exxon-mobil-1q-profit-up-17-pct-wall/n20080501125709990001
 
"HOUSTON (AP) - Exxon Mobil Corp., the world's largest publicly traded oil company, said Thursday that record crude prices helped its first-quarter profit climb 17 percent to $10.9 billion - the second-biggest U.S. quarterly corporate profit ever. "

Gee - I wonder why it is the second-biggest US quarerly corporate profit ever... Thats because we are paying over 4 dollars for a gallon of gas! Boy - this really me.

I understand the theory of how the housing market could be playing an effect on all of this.... But 10.9 Billion in profit for 1 quarter??? Come on - how can any body in their right mind stick up for this.. I understand its a business, but whats going to happen next?? Other things we need such as clean water, food, etc... Are they all going to double or even tripple in price within a year?


frustrated because you dont own ExxonMoblie stock or because they wont sell gasoline below the Spot Market wholesale price?
(and thereby screw their stockholders)

I'm just asking ......
 
I do not invest in stock nor do I follow it.

I simply go by the fact that I paid 4.10 for a gallon of premium gasoline from Exxon this morning. I come into work and see on TV that they made 10 billion dollars in a SINGLE quarter.

They have Americans in a pigeon hold and are taking advantage of that... Regardless who it is for... the stock holders, the government, whatever.

I don't want this thread to get off topic - but someone is jacking the price of somehwere if they can make 10 billion dollars in such a small amount of time.
 
It's free enterprise. It's what the market will bear. It's all of that.
If we want our government to control prices, it's socialism. Simple fact, though, is that the people making these record profits are doing so on the broken backs of millions of men and women who work for a living. It is a dirty rotten shame. The entire economy could collapse if this continues. The rich will get richer and the rest of us will have nothing.
Something needs to be done. George Bush certainly isn't going to do it.
 
I do not invest in stock nor do I follow it.

I simply go by the fact that I paid 4.10 for a gallon of premium gasoline from Exxon this morning. I come into work and see on TV that they made 10 billion dollars in a SINGLE quarter.

They have Americans in a pigeon hold and are taking advantage of that... Regardless who it is for... the stock holders, the government, whatever.

I don't want this thread to get off topic - but someone is jacking the price of somehwere if they can make 10 billion dollars in such a small amount of time.

that "someone" is me and you ......

every time we buy gas we increase the demand for this precious resource.

Commodity Traders respond to our demand by bidding for refined products to replace what we've purchased.

then the refiner has to replace their raw materials and so they buy more Crude Oil, which drives more demand for Oil.

So can you see where this is headed???

Because you and I are driving the Demand side of this equation .......

I need for you to stop buying Gas!!!
 
I do not invest in stock nor do I follow it.

I simply go by the fact that I paid 4.10 for a gallon of premium gasoline from Exxon this morning. I come into work and see on TV that they made 10 billion dollars in a SINGLE quarter.

They have Americans in a pigeon hold and are taking advantage of that... Regardless who it is for... the stock holders, the government, whatever.

I don't want this thread to get off topic - but someone is jacking the price of somehwere if they can make 10 billion dollars in such a small amount of time.

Just think they can cut the price of gas in half and still make 5 billion in one quarter. This is getting ridicules and out of hand.
 
There are people all over the world who say that what YOU make is so unbelievably over the top that you should be ashamed of yourself. We live in a country where personal income is at such an all time high, and where the average cost of gasoline takes up a MUCH smaller percentage of our incomes than it did back in the last fuel crisis, and yet we complain and complain and complain.
Get real. Learn to invest, a monkey can do it these days. You have no excuse to simply say "I don't know nothin' about no investin' nohow" and expect to get ahead in this country.
Broken backs, my a$$. People are either victims in this country or they make something of themselves. Be lucky you don't live in England where they tax you to death...
 
There are people all over the world who say that what YOU make is so unbelievably over the top that you should be ashamed of yourself. We live in a country where personal income is at such an all time high, and where the average cost of gasoline takes up a MUCH smaller percentage of our incomes than it did back in the last fuel crisis, and yet we complain and complain and complain.
Get real. Learn to invest, a monkey can do it these days. You have no excuse to simply say "I don't know nothin' about no investin' nohow" and expect to get ahead in this country.
Broken backs, my a$$. People are either victims in this country or they make something of themselves. Be lucky you don't live in England where they tax you to death...

The average income may be higher, but that's due to CEO's earning 10 times+ what they did 20 years ago. The rich have gotten a lot richer. But the poor are getting poorer. If you take out the top 10% and bottom 10%, you'd see the average income of US Americans (haha) is a lot lower than what you think.