dmatte85
Sophomore Author
Louisiana
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Message Posted:
9/11/2008 7:31:40 PM
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One word. Greed. There is no need for these high gas prices. We have plenty of oil here, so what is the big fuss over. Whether the prices are 2.50 or 3.50, this will not significantly change the amount of gas people use. So why does the government think that raising gas prices will lower the consumption of gas and in turn there be more gas. It's not significant enough.
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OHMS
Champion Author
Orange County
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Message Posted:
9/11/2008 4:48:41 PM
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what I can say and what I can type here are two very different things
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Don1222
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Michigan
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Message Posted:
9/11/2008 5:44:49 AM
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Rising gas prices add up fine = Greed
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24541
All-Star Author
Virginia
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Message Posted:
9/10/2008 7:01:04 PM
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Drill here.
Drill now.
Pay less.
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magnumCA
Champion Author
Los Angeles
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Message Posted:
9/5/2008 5:52:15 PM
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OH my!!!!!!!!!!!!!!
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HawaiianGuy
Champion Author
Idaho
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Message Posted:
9/5/2008 1:06:36 PM
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"What's a mother to do?"
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DFleming
Veteran Author
Alberta
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Message Posted:
9/5/2008 8:37:11 AM
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I agree. Business are always quick to pass on costs and slow to pass on savings. That's human psychology, not just classic economics.
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mckellyb
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Las Vegas
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Message Posted:
9/5/2008 8:18:10 AM
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This is classic economics...the kind not taught in school.
Prices rise immediately when COG (cost of goods) rises, and drop slowly, if at all, when it falls.
Extra profit is always welcomed.
Anything else is purely spin. Since gasoline spot market prices are easy to find, just find CNBC, channel 355 on DirecTV, it's even harder to tolerate.
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Mazdaman7Q
Champion Author
South Carolina
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Message Posted:
9/5/2008 7:50:42 AM
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Gas prices + Big Oil=
GREED
Yup, add's up alright!
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rnb1954
Rookie Author
Illinois
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Message Posted:
9/5/2008 7:50:31 AM
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We should know that big business just needs more money to pay for minimum wage going up.
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OKRifle
Champion Author
Oklahoma City
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Message Posted:
9/5/2008 7:49:05 AM
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Oh, it ADDS UP alright....and we get to pay for it!!!
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dougrusty
Veteran Author
Illinois
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Message Posted:
9/5/2008 7:48:32 AM
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All as I know is that MY pockets are empty.
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zivkam
Veteran Author
Dallas
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Message Posted:
9/5/2008 7:40:52 AM
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This is why speculation on oil futures should be adjusted... either with the amount put down or something else.
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w4kh
Champion Author
Riverside
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Message Posted:
9/5/2008 7:40:04 AM
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Still, it is all about money... profits for the Big Oil Companies and OPEC.
Why should they care about the pump price of gasoline?
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tbybee
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Omaha
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Message Posted:
9/5/2008 7:38:17 AM
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They can't make as much on jet fuel because air travel is down so they make up for it at the gas pump.
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tonycmd
Veteran Author
Maryland
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Message Posted:
9/5/2008 7:37:44 AM
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I knew this
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laddyboy62
Champion Author
Riverside
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Message Posted:
9/5/2008 7:37:16 AM
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they are related..
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amacquarrie
Veteran Author
Nevada
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Message Posted:
9/5/2008 7:36:41 AM
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we guessed this a long time ago
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patbob56
Champion Author
Colorado Springs
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Message Posted:
9/5/2008 7:36:01 AM
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hmmm
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grandamgt1
Sophomore Author
Illinois
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Message Posted:
9/5/2008 7:33:51 AM
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as long as people keep paying inflated prices, why should they need to connected?
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suzyq2007
Sophomore Author
Dallas
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Message Posted:
9/5/2008 7:31:09 AM
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I really believe there is a lot of price gouging going on. If the price of crude oil goes down, the price of gas should go down. When crude goes up, they cannot wait to raise the price. why does it not work in reverse???
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RPetty
Champion Author
Maryland
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Message Posted:
9/5/2008 7:30:14 AM
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they never do. too many economic/POLITICAL factors involved...
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Wolfwings
All-Star Author
Delaware
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Message Posted:
9/5/2008 7:27:27 AM
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Today,s spot price is $104.45 a barrel. Forty gallons per barrel. The refineries use every drop of that crude to make gasoline, diesel, plastics, rubber products, and, even building products, and then re-use the delivery containers(ships). Last year local gas costs were $2.613, This year about $0.75 more. If we can just convince the speculators not to speculate on oil, crude costs go down forcing pump prices to follow
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e_jeepin
Champion Author
Michigan
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Message Posted:
9/5/2008 7:26:17 AM
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It's easy.
Refineries have very little competition and retailers mostly draw from the same distribution hub.
In the States, Gasoline futures have dropped about 90 cents over the past 60 days and we bottomed out at 45 cents off at the pump. The other 45 cents is windfall.
As long as all retailers hold the price, that is where it stays.
I'm buying refinery stocks, they are making huge money in the 3rd and 4th quarter.
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kevski
Champion Author
Oregon
Posts:1,391
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Message Posted:
9/5/2008 7:24:28 AM
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solid, in depth, reporting
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dred001
Veteran Author
San Jose
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Message Posted:
9/5/2008 7:24:11 AM
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jb47 ..... gas price in europe has nothing to do with shell or exxon ... oil cost the same ... refining it maybe cost a bit more ... say few cents a gal .. but the real reason ......... is ..... redistribution of wealth ... from the user of gas to the govt... yep taxes! ..... gled we in CA only pay about a buck a gal! wow over there its like 4 Bucks a gal!
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gasie1
Champion Author
Maine
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Message Posted:
9/5/2008 7:22:39 AM
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Voodoo economices.
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Gassie1
Champion Author
Akron
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Message Posted:
9/5/2008 7:21:04 AM
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I knew it!
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bwatchin
Champion Author
Texas
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Message Posted:
9/5/2008 7:18:55 AM
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Its just about money. After the oil companies make theirs, the states and countries want to make theirs, in the form of taxes. There are benefits and drawbacks. The drawbacks surface as greed on the part of suppliers and high government taxes. The benefits as highways, roads and public transportation. But the average paying consumer is now getting abused by all sides...
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julius1st4
All-Star Author
Ontario
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Message Posted:
9/5/2008 7:18:29 AM
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That is correct::: OIL/bbl has been dropping for 1 week [from $116 to $107], but gas has stayed the same [ie: ave. ` $1.24/li]
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qaqcsup
Champion Author
Michigan
Posts:3,157
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Message Posted:
9/5/2008 7:16:43 AM
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I remember as a boy, addition was learned in first grade, subtraction was second grade, multiplication was third grade and division was fourth grade.
It is obvious that speculators never passed first grade.
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steveski
Veteran Author
Maryland
Posts:479
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Message Posted:
9/5/2008 7:16:22 AM
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that he's a moron?
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markmoore80
All-Star Author
North Carolina
Posts:839
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Message Posted:
9/5/2008 7:15:58 AM
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Whatever.
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miatabill
Champion Author
St. Louis
Posts:1,965
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Message Posted:
9/5/2008 7:13:37 AM
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They seem to be correlated with oil goes up...just not when it comes down.
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jck667
Sophomore Author
Connecticut
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Message Posted:
9/5/2008 7:12:40 AM
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"doo-doo economics" Funny!
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platypus1926
Sophomore Author
Georgia
Posts:164
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Message Posted:
9/5/2008 7:12:10 AM
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daaah.....come on Mr turtle, catch up!!!
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Bababouie
Rookie Author
Cleveland
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Message Posted:
9/5/2008 7:12:09 AM
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Looking at the price charts in my area, gas prices have not kept pace with the huge rise in the price of oil, so this is not surprising.
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techque
All-Star Author
St. Louis
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Message Posted:
9/5/2008 7:09:48 AM
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Since this time last year, Canadian average gasoline increased 30%, while the price of crude increased over 60%. that's where all the producers $50 billion/quarter profits came from. They naturally are trying to hold on to those $50 billion profit margins with declining price of crude and declining demand for product, so they are reluctant to drop product prices.
rocket science strikes again.
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jb47
All-Star Author
Shreveport
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Message Posted:
9/5/2008 7:07:11 AM
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Oil companies here won't be happy until they get the price of a gallon of gas up to where it sells in Europe. Around $8.00 a gallon
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bab506
Veteran Author
St. Louis
Posts:487
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Message Posted:
9/5/2008 7:07:10 AM
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old news.
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suj
All-Star Author
Wichita
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Message Posted:
9/5/2008 7:05:25 AM
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I don't think that they are connected at all. The price of a barrel goes up a little, the price at the pump goes up tons. The price of a barrel drops through the floor, the price at the pump drops a penny. No correlation at all.
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gasman50
Champion Author
Portland
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Message Posted:
9/5/2008 7:05:25 AM
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Still dropping in Portland, Ore
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domer2
All-Star Author
Gary
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Message Posted:
9/5/2008 7:04:32 AM
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greed. they want a 20 % profit margin.
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Lovelee
Champion Author
Detroit
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Message Posted:
9/5/2008 7:02:06 AM
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Conclusion:
"Maybe the crude price and the refined price don't bear any relation to each other after all. And just maybe the price of gasoline doesn't bear any relation to anything at all, except corporate greed."
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Don20
Champion Author
Oklahoma City
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Message Posted:
9/5/2008 7:00:44 AM
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I would say its greed coming on again...
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RochBear
Champion Author
Minnesota
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Message Posted:
9/5/2008 6:57:13 AM
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Both Oil and Gas are sold on the commodities market. So the price is set by the bidders. Now the refiners can refuse to sell gasoline until they get a certain price. But other than that, there really isn't a direct relationship, even though one would think there should be. It's like any auction, the prices don't always make sense. (you can get things at an auction for pennies on the dollar, or I have seen people pay more for a used item, than you could go buy it new for (and it's not an antique))
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AC-302
Champion Author
Los Angeles
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Message Posted:
9/5/2008 6:55:19 AM
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It's not so straightforward a probelm..
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Brockvillian
Veteran Author
Ontario
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Message Posted:
9/5/2008 6:53:43 AM
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I gave up on trying to figure this stuff out. It is a conspiracy at the highest levels.
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The_WB
Champion Author
Detroit
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Message Posted:
9/5/2008 6:52:59 AM
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Second that one!
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MorelandIns
Rookie Author
North Carolina
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Message Posted:
9/5/2008 6:52:49 AM
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sounds like it always does... TOO POLITICAL !!!!
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