Gas Prices

Discussion in '2005 - 2014 S-197 Mustang -General/Talk-' started by xxrequiemxx, Apr 22, 2008.

  1. gas is up to 4.50 for premium here on long island. costs me nearly 60 bucks to fill up today :(
  2. George Bush. George Bush. George Bush.
    Gas was cheaper before the war began. The cost in lives and dollars. The economy is in ruins.
    Can't wait to see the responses.
  3. tis tru, stan.

  4. Right because this war caused the industrial revolutions that are taking place in China and India right now. That is a major source of the increased demand worldwide. This war is also responsible for Saudi Arabia's refusal to increase oil exports even though they have the capacity? AS far as the economy goes I guess that banks giving home loans to anyone with a pulse help right? Because that didn't cause a lot of forclosures or anything. It surley didn't cause banks to lose money and people to lose thier jobs or anything right? Personally I like the fact that the housing market sucks since I plan on buying a house in about seven months when I return from my current deployment in Iraq.
  5. AMEN!! reduce EPA regulations drill drill drill drill drill drill build refineries and drill drill drill drill drill drill drill drill drill drill drill drill drill drill drill drill drill drill drill drill drill

    alaska, gulf of mexico here we come!! and before you know it 2.00/gal
  6. +5
  7. Gas Companys like Shell only make 4-8 cents a Gal.............
    As for suing the CEO,,,,,,the law says you cannot sue a CEO.
    The CEO makes money for the investor and if the CEO did anything different.then he would be brought up on charges....
    CEOs are for the investor and not for the public.....
    Yep I think they deserve their 6 millon dollar bonus every year as long as they make us money the investor.
    For many years the oil companys never made a penny for their investors.
    Why don't you bring the farm owners to the Senate or congress and find out why their milk prices are sooooo high????
    To me I think we all will learn to live with $3.75-$4.25 a Gal gas.
    Gas for many years have been cheap
    Now its about where it should be.......
    Maybe less would complain if they do some investing,,,now its your time with stocks sinking.......I know when people sell sell sell,,,I will always Buy Buy Buy:SNSign:
  8. I jumped into this one late... here are a few things to consider.

    1. Exxon made $10 billion profit in one quarter. A few people mentioned cutting the gas price in half would still give them $5 billion in profit. WRONG!!!!!!! $10 billion in profit means somewhere around $100 billion in revenue (how much money they received from sales of products, not factoring in any costs). This means about $90 million in expenses. Assuming (incorrectly) no revenue from sources other than gasoline, cutting gas price in half would result in $50 million in revenue. Expenses would not change. Exxon would lose $40 billion in one quarter.

    2. Oil companies (I'll use Exxon Mobil here specifically) have lower profit margins than most industries - less than 10% of their revenue. I believe its somewhere around 7%. That means even if oil companies wanted to run at BREAK EVEN (why would any company), the biggest effect they would have is dropping the average from say $4.00 to $3.72! But again, why would any company intentionally run at no profit? This assumes oil companies generate $0 in revenue from anything other than the sale of gasoline, which is untrue. Also remember: the smaller the profit margin, the less stable a company is, and the greater the risk or catastrophic failure.

    3. Most, if not all, of the tax breaks Exxon and oil copmanies get are because of legitamite things such as donate money to charities or invest in technologies to help bring DOWN the cost of gasoline for me and you. They aren't just gifts from the government.

    4. The government is considering windfall profit taxes on the oil industry. WHY?!?!?! How does this help the consumer? If anything it will hurt. The government could use the tax money to reduce the gas tax that they impose. If the tax is imposed, however, the oil companies would likely just pass the tax onto the consumer and keep their profit margin the same as before the tax. Gas prices would be higher when all is said and done.

    5. The value of the dollar has a large effect on the price of gasoline. Compared to the Euro, the dollar has dropped nearly 15% over the past year. Compared to the Japanese Yen, nearly 13%. This alone can account for an increase in price of about 50 cents per gallon over the past year.

    6. 2/3 of our oil supply comes from North America (including Mexico). Canada is our biggest supplier. Canada has more oil than all of OPEC trapped in the oil sands. Right now we cannot effectively access this sand, and Canada has it environmentally protected anyway.

    7. Saudi Arabia is the only OPEC country with enough spare capacity to make any reasonable boost to supply. They could increase their production by about 10%. If ALL of that were sent to the United State, it would only increase our supply by less than 2%.

    EDIT: 8. Venezuela pays about 12 cents/gallon for gasoline.
  9. Geeeee so much to read,I think I need another glass of wine lol......
    If exxon makes $10 million each 1/4
    They are making money for us investors........
    Yep I do think gas prices are a tad high,,,,but they will not drop under $4.00 and we should learn to live with it...
    Gas prices will be $5.00 Gal before july 4th of this year.
    We buy all the Oil Mexico has,,,thats why we have no boarders so illegals can come into this country...
    If Israel bombs iran,,,gas will be over $10 a Gal.......
    Just think last week the Dems wanted a Globle warming bill that would add another $1 - $1.50 a Gal tax on us..... And McCain and Obama said that they would have voted for it.....
    Tell me we are not screwed when 2009 comes around lollllll
    I will not feel it and I am sure many will not feel it,,,but there are a few that will feel it.............
  10. Both Clinton and Obama said they would unilaterally break the free trade agreement with Canada as well. Under the agreement, the US gets Canada's oil and natural gas at the same price Canadians pay. Sounds like a relationship you'd want to improve not destroy. :shrug:

  11. I just paid 4.05 for 87 octane! I have a truck under warranty, so I can not convert it to run ethanol :(
  12. I just paid $4.59 for regular...
  13. If you really want our supply issues to change (and thus prices to fall), you need to write your congressmen and tell them to remove the roadblocks preventing the harvesting of vast petroleum resources in our sovereign territories.

    Tree huggers and earth-worshipers have always been detrimental to our economy and in many cases to the environment they claim to champion.

    Chuck Norris (don't laugh - you know what Chuck is capable of: wrote a good commentary piece.
  14. Want to know why your gas prices are so high?


    The Vancouver Sun reports in its Thursday edition that American legislation to bar so-called "dirty" fuels does not apply to Canadian oil sands, according to Senator Jeff Bingaman of New Mexico, chairman the senate energy committee. CanWest's Shaun Polczer writes the provision, Section 526, bars the U.S. government from buying alternative fuels that create high levels of greenhouse gas. President George W. Bush signed the bill into law last December, but a special interpretation committee is deciding if Canadian oil sands products qualify for punishment under the law. Mr. Bingaman told the Canadian American Business Council, "I do not believe that Section 526 will be a barrier to oil imports from Canada." Environmental groups on both sides of the border have been lobbying to have oil sands declared "dirty oil." On Wednesday, the Wall Street Journal reported that a coalition of environmental groups led by the Sierra Club succeeded in having air permits for the Wood River, Ill., refinery expansion halted. The facility, the 10th-largest refinery in the United States, would process more than 350,000 barrels per day of heavy oil from the ConocoPhilllips-EnCana oil sands venture.
  15. Drilling is pointless, without oil refineries! We need to drill and refine. One without the other is pointless.
  16. Not true.
    More oil on the worldwide market will increase supply, reducing the possibility of any one event causing a shortage, and reducing our dependancy on foriegn sources.

    Of course, extra refining capacity is critical as well, but the egg needs to come first...
  17. If something very bad happens to oil supply, we can use some or our oil reserve.

    If something very bad happens to a refinery??????.............

    Just something to think about.
  18. You're absolutely correct. But when I say harvest, it's presumed that we'd do something with it. The whole process needs to be updated and expanded. More asset retrieval, refining, and distribution would improve our situation all the way around.