$4 Gasoline?

RTO · Post by **RTO** » April 26th, 2007, 12:37 pm

With gasoline prices surging in 2007, U.S. motorists have cast a nervous eye toward gas station signs. Headlines about the specter of $4-a-gallon gasoline bedevil commuters and vacation planners, and fears of an inflationary ripple effect linger. Many have worried that pump prices could surpass the record average of $3.06 a gallon in September, 2005, right after Hurricanes Rita and Katrina decimated the Gulf Coast.

Gasoline is now at a national average of $2.87 per gallon, about 33% higher than 11 weeks ago. On Apr. 25 the picture got no prettier: Crude oil jumped $1.26, to $65.84 a barrel, on government data showing a steep, 2.8-million-barrel drop in gasoline supplies.

The main culprit in the price surge is lack of supply. Refinery utilization--which measures how much capacity gasoline refineries are using--fell to 87.8% from 90.4% the week before. Refiners typically report production upswings in the spring as they finish routine maintenance before the summer driving season. But this year fires and power outages have marred production at many refineries. "There are unusual problems in the refinery business; everything that could have gone wrong went wrong," says Fadel Gheit, senior energy analyst for Oppenheimer & Co. in New York. "From BP to Valero to Exxon to ConocoPhillips, every company had an operating problem or shutdown this quarter."

Full Story Here....

Bobcat · Post by **Bobcat** » April 26th, 2007, 1:39 pm

At the risk of sounding like a hippie I can honestly say higher gas prices are a good thing. Nobody (including myself) likes to pay a lot for gas but it might be the only way to force us to address the issue of dependence on foreign sources of oil. Also, it should compel us to look harder at alternative fuel sources. The hilarious part of all this will be watching real hippies blame President Bush for higher gas prices.

Nomad · Post by **Nomad** » April 26th, 2007, 2:21 pm

Bobcat wrote:The hilarious part of all this will be watching real hippies blame President Bush for higher gas prices.

He is the root of all evil.

42L5V · Post by **42L5V** » April 26th, 2007, 2:33 pm

$2.63 a gallon here in central Missouri.

RTO · Post by **RTO** » April 26th, 2007, 2:40 pm

42L5V wrote:$2.63 a gallon here in central Missouri.

Practiclly giving it away at that price. Any cheaper and you could almost afford a date with your avatar!

ChipOnShoulder · Post by **ChipOnShoulder** » April 26th, 2007, 3:53 pm

The target is $5.00 a gallon.

How do I know? Cause' that is roughly what the Europeans are paying and the greedy assed oil executives figure if the Europeans can afford it, then so can we. I mean, your kid does not have to eat as much and you don't have to drink as much beer...right? I've guarded mofo's like these guys and that is exactly the way most of them (Not all) think...

All this shit about the war and strained relations is bullshit since I read in the paper a month ago that Exxon has had record high profits - They have to publish it.

RRDTm3 · Post by **RRDTm3** » April 26th, 2007, 4:08 pm

A emergency War Act would cap the profit on Big oil. they should volunteer to minimize their profits in time of war.

Bush could step in and encourage this but that wouldn't fair to his running buddies!

Fuck Bush

i am so glad Cunnilingus has been Subpoenaed to testify, the truth will come out and none of this Gonzales shit of I can't recall.

I smell somebody getting impeached!

ChipOnShoulder · Post by **ChipOnShoulder** » April 26th, 2007, 6:54 pm

I am not anti-Bush. I am just the opposite in that I feel that he saved possibly millions of lives not to mention gave me some serious work.

If he wanted to be really fuckin' mean, all Bush had to do after 9/11 would have been nothing.

No big "United we Stand" Campaign....nothing. Just let nature and hate takes its course, finally festering into what might have been the war [i]against the whole Middle East...[/i]

Some of the policies have been fucked up, but at least he did/is doing something where the last administration did nothing....Hence 9/11.

lusus · Post by **lusus** » April 26th, 2007, 7:06 pm

Doc Cook wrote:The target is $5.00 a gallon...I read in the paper a month ago that Exxon has had record high profits - They have to publish it.

Here's the deal.
There is a big difference between the total profit and the profit margin. When people talk about 'obscene' oil company profits they are not differentiating between the two. The price of oil has gone up due to global factors. (see below). So If exxon's sales double because the price of oil doubles, do they make more margin or do they just get more sales?

$1.00 at a 5% profit margin = 5 cents. $2 at a 5% profit margin = 10 cents. Is that profit now obscene because it doubled? Think about it this way...you work straight time for 40 hours and take home 1000 bucks. Next week you work 66 hours and take home 2000 bucks. Should that extra 1000 bucks get taxed at 50% because its obscene?

Oil companies don't set the price oil, global supply and demand does. Prices change daily, or hourly, and no one entity controls it. Not even Bush.

Oil and gas are completely interchangable product that trade on a global market. Example - two gas stations across the street from each other. One prices at $2.25, the other at $2.00. Where are you going to go? Same story, Exxon prices wholesale gas at $2.00, BP at $1.90. Do you think Exxon would sell any gas?

Taxes make up a bigger component of the price of a gallon of gas than oil company profit. Check this link for a better description. Its from an oil company, but it is very similar to other graphics you can find by simply googling. http://www.conocophillips.com/newsroom/ ... rofits.htm

Horned Toad · Post by **Horned Toad** » April 26th, 2007, 8:31 pm

RRDTm3 wrote: i am so glad Cunnilingus has been Subpoenaed to testify, the truth will come out and none of this Gonzales shit of I can't recall.

I smell somebody getting impeached!

So you think he will get impeached because some lawyers in appointed positions got fired. Dude you sure you could pass a piss test right now

RRDTm3 · Post by **RRDTm3** » April 27th, 2007, 12:20 am

Horned Toad wrote:
RRDTm3 wrote: i am so glad Cunnilingus has been Subpoenaed to testify, the truth will come out and none of this Gonzales shit of I can't recall.

I smell somebody getting impeached!
So you think he will get impeached because some lawyers in appointed positions got fired. Dude you sure you could pass a piss test right now

honestly i really could give a fuck about Gonzo, The jig is up. Bush and his fuckheads have insulted our intelligence for the last time

I am going to fly out there and stomp your BP guts in. No jackass, Bush and his minions broke the fucking law!

Chiron · Post by **Chiron** » April 27th, 2007, 1:16 am

Everytime I read one of these I think well.... gas prices are between $5.50 and $6.50 a gallon and when I buy the cheaper stuf the engine light turns on.... Next service will deffinitly include a new gas filter... Imagine to go to my summer home I require $150 worth of gas.

No to me higher gas prices are not good. Hey how much does a horse cost over there? The ones they have here are either racing horses with skinny legs or they are so small that a tall guy would be dragging their feet while riding.

Flesh Thorn · Post by **Flesh Thorn** » April 27th, 2007, 5:02 am

The main culprit in the price surge is lack of supply. Refinery utilization--which measures how much capacity gasoline refineries are using--fell to 87.8% from 90.4% the week before. Refiners typically report production upswings in the spring as they finish routine maintenance before the summer driving season. But this year fires and power outages have marred production at many refineries. "There are unusual problems in the refinery business; everything that could have gone wrong went wrong," says Fadel Gheit, senior energy analyst for Oppenheimer & Co. in New York. "From BP to Valero to Exxon to ConocoPhillips, every company had an operating problem or shutdown this quarter."

We could have crude oil running out of our asses and the price of gasoline would still be high. As of lately, I have noticed that the price of crude oil dropping has not resulted in the price of gasoline dropping, but in actuality the price has continued to rise. On a side note,Iran with it's abundant supply of oil has to import gasoline, because of a lack of refinement capacity.

Horned Toad · Post by **Horned Toad** » April 27th, 2007, 7:13 am

RRDTm3 wrote:
Horned Toad wrote:
RRDTm3 wrote: i am so glad Cunnilingus has been Subpoenaed to testify, the truth will come out and none of this Gonzales shit of I can't recall.

I smell somebody getting impeached!
So you think he will get impeached because some lawyers in appointed positions got fired. Dude you sure you could pass a piss test right now

honestly i really could give a fuck about Gonzo, The jig is up. Bush and his fuckheads have insulted our intelligence for the last time

I am going to fly out there and stomp your BP guts in. No jackass, Bush and his minions broke the fucking law!

which law

and how did that last PT test go again, I live at close to 4000' I think I can out run ya