Why is gas still high?

[Rinaldo]

The hurricane passed and nothing bad happened... why haven't prices dropped below $3.00 again?

after katrina we had a week of highs and then prices went back to normal.

[TaDoW]

OPEC ..
decrease supply, increase demand ... yada yada yada..

[vending_machine]

I think they just came up with this new thing called, what was it.. supply and demand I think. It's brand new though so I don't know if you can trust the theory yet.

[Doctor Dre]

There are still 10 rafineries that don't work as we are speaking . 5 in new orleans, 5 after rita.

[SilentKnight]

Twas the night before Rita, and all through the land
Gas prices were rising to beat the band
Oil company execs were snug in their beds
While dreams of fat bonuses danced in their heads

Profits for Exxon Mobil of $10 billions!
On Petro-Canada, on Sunoco, On Shell
You're not gouging deep enough if talking mere millions
If the people don't like it, they can all go to hell

Governments will not rein in the earnings excess.
Since they too share in the spoils
And believe that some of the party's success
Is due to the money contributed by the oils.

Next election the present lot should be sent on layoff
Let someone else have a turn at the trough
Some retailers raised prices early on
Remember and avoid them until they are gone.

Pick on oil company and boycott all their facilities
Don't buy anything. Not gas, not oil, not coffee or Twinkies.

Esso (part of Exxon) would be a good choice.

Come on people; let them hear your voice.

Stand up and roar.

We are mad as hell and we're not going to take it anymore.

[Rinaldo]

Originally Posted by vending_machine

I think they just came up with this new thing called, what was it.. supply and demand I think. It's brand new though so I don't know if you can trust the theory yet.

Don't be a smart ass
I'm asking sincerely, I fully understand supply and demand,I have a minor in economics......
Rita didn't fuck things up like katrina did. I understood 3 refineries were down in New Orleans. I didn't know of any that were still not operational in texas.

[SilentKnight]

Originally Posted by Rinaldo

Don't be a smart ass
I'm asking sincerely, I fully understand supply and demand,I have a minor in economics......
Rita didn't fuck things up like katrina did. I understood 3 refineries were down in New Orleans. I didn't know of any that were still not operational in texas.

Chill a bit dude...doesn't take a minor in economics to understand greed and price gouging. They know they can get away with it - so they gouge. Plain `n simple.


SilentKnight

www.kastlearchives.com
www.chamberofchains.com
www.fetishopolis.com

[Mako]

Has nothing to do with OPEC or price gouging, OPEC is actually struggling to relieve price pressure. They want to get gas down as soon as possible as they don't want the American people getting smart and forcing congress to enact legislation that funds the research of widescale alternative fuels, thus curtailing long term demand for their precious black gold

It has to do with increased gasoline demand in July/August, which overloaded our refineries ability to process oil, combined with Katrina knocking a dozen Gulf refineries offline during the same peak timeframe. Rita then appeared, and while not strong enough to do major damage, forced the accelerated restarts of the platforms/refineries to be put on hold another three weeks.

Any other questions I can answer for you today Rinaldo?

Gas pricing will fall, but not for another month or so. And as commodities investors exit Oil en masse (as they have the past three days, thus lowering the price per barrel by over 20% versus its August peak already) the situation will return to fairly normal levels in Q1/06.

[Ron Bennett]

Bingo.

I'm amazed ... well I guess I really shouldnt be consider how gullable people are ... that so many folks think it's a simple supply and demand issue ... it's NOT!

Most americans forget about Enron already - much of those rolling blacksouts, etc out west a few years back were primarily due to market manipulation NOT demand, NOT supply, NOT infrastructure, etc.

Getting back to gasoline ... if it was truly a supply issue, the big oil companies wouldn't be earning as much as they are ...

In regards to refineries ... there's no rush it seems to fix them ... they're milking the perception of an energy crisis that for all it's worth...

And the worse has yet to come ... when folks get their energy bills this Winter ... welcome to the 70s again and the B.S. that came with it - Congress has already passed a bill to alter daylight savings time ... what's next? lower speed limits maybe - damn that would suck ... if that happens I likely say hell with it and continue driving at the same speeds I do now and chalk up speeding tickets / higher insurance as part of the price of driving ... life is too short to drive at sluggish 55 LOL!

Ron

[boner 2.0]

I'm high on gas

[Havalina]

Originally Posted by Mako

Has nothing to do with OPEC or price gouging, OPEC is actually struggling to relieve price pressure. They want to get gas down as soon as possible as they don't want the American people getting smart and forcing congress to enact legislation that funds the research of widescale alternative fuels, thus curtailing long term demand for their precious black gold

It has to do with increased gasoline demand in July/August, which overloaded our refineries ability to process oil, combined with Katrina knocking a dozen Gulf refineries offline during the same peak timeframe. Rita then appeared, and while not strong enough to do major damage, forced the accelerated restarts of the platforms/refineries to be put on hold another three weeks.

Any other questions I can answer for you today Rinaldo?

Gas pricing will fall, but not for another month or so. And as commodities investors exit Oil en masse (as they have the past three days, thus lowering the price per barrel by over 20% versus its August peak already) the situation will return to fairly normal levels in Q1/06.

Mhmmmmm.

[EroticySteve]

Exactly, there is no incentive to fix the inherent issues brought about by a lack of regulation.

No one wants to touch the oil companies.

It's not a simple supply and demand issue. While there are issues at the refineries these existed prior to the hurricanes.

If people remember, we were already paying $2.30 to $2.60 per gallon prior to the hurricane. At those prices it was already out of control. It hit us gradually though so we had time to react and it didn't panic the world like it has recently.

[SilentKnight]

Originally Posted by Mako

Has nothing to do with OPEC or price gouging, OPEC is actually struggling to relieve price pressure. It has to do with increased gasoline demand in July/August, which overloaded our refineries ability to process oil, combined with Katrina knocking a dozen Gulf refineries offline during the same peak timeframe. Rita then appeared, and while not strong enough to do major damage, forced the accelerated restarts of the platforms/refineries to be put on hold another three weeks.

Now explain this and this

[Fred Quimby]

Ask the Anti-war morons who said this war was for cheap oil.

[Sly]

Originally Posted by Fred Quimby

Ask the Anti-war morons who said this war was for cheap oil.

After all the money we've spent over there, it sure would be nice if we got cheap oil out of it. Hehe.

Today I noticed that gas here dropped 10 cents from last week. The station I go to is at $2.89 right now, which is where it was right around Katrina. I wasn't alive during the gas crisis of the '80s, I think it was around the time of the Iran Contra Affair. If you add proper inflation to the prices that were being seen then, it would have been $3 per gallon, which is slightly higher than our national average last I heard. Kind of interesting. Twenty years later and gas prices really haven't changed all that much. Of course, now people have all sorts of "extras" in their cars which eats away at their MPG, but thats their problem.

[beergood]

I'm still waiting on that oil we traded blood for. WTF dude we're being robbed on that one. We conquered it and its ours fair n square.

We're not going to see cheaper oil as long as we keep paying for it. They'll keep it at a nice comfy max profit rate as long as the congressmen don't get any reason to have to put gov't money into cheaper fuel sources. Only reason would be re-election and oh wait they're getting their pockets lined by oil companies so thats not a problem. You'll see cheaper oil the same time you see

1. easy/cheap cure for cancer, aids, etc.
2. insurance companies that actually cover their claims and don't screw over they're customers.
3. honest (dead) lawyers

[Mako]

Originally Posted by SilentKnight

Now explain this and this

Easy: Commodities traders, Energy based Mutual Funds, and Hedge Funds, have all driven the price of oil up to stratospheric levels over the past six months, profiting all the way. Petroleum companies have a fair bit of margin built in to $2.00 gas, let alone $3.00 gas, obviously they're going to have record profits as this continues.

Very similar to the gold runup, which also has nothing to do with supply/demand, but instead is based purely on speculation by traders (and a safe pay against a weak dollar, which we're experiencing now).

The media has also been a useful tool to the traders, doom-and-glooming oil from the get-go, leading to an almost feeding frenzy by investors smart enough to bet on oil.

To all you Iraq conspiracy experts, anti-Bushites, Opec haters, Green party members, etc, I'd like you to ask yourselves a very simple question:

Why is it that when the price of oil FALLS during a trading day, as it has the past four straight days (down more than 15%, or $8 from last week), it's reported on the back page, barely registers on the nightly tv news broadcasts by the big three networks, and isn't really focused on even in the financial section. However, when the price of oil RISES during a trading day, even by just one dollar, it's the lead-in piece on every major news network (even Fox, conspiracists), makes the front page in spectacular fashion, and is followed up with dozens of cute quips and quotes from supposed "experts" saying how it's going to "keep going up indefinitely" etc etc?

Could it be because the media gets more eyeballs to pay attention to their content when it's doom and gloomed to the max? Noooooo, no way.

Don't believe everything you read, or everything you see on the nightly news. Far better research avenues for you to take advantage of.

PS - Hi to all the people six weeks ago who lectured GFY about how "oil was going to $100" because their local empty head news anchor "told them so".

[aico]

It's because refineries are now making $1.00 per gallon in profit where as they used to only make around 20 - 30 cents.

Oh, and cuz people keep paying for it, usually with their credit cards, which is fucking why sign-ups and rebills are gonna start, if they haven't already, sucking big donkey balls, cuz everyone is gonna max out their cards.

[seeric]

"hey bitch! your gas is still high because i fucking made it that way. if you don't like it post here so i can use the partriot act to unfairly subject you to cruel and unusal punishment, or at least maybe i can get cheney to fart on you!"
"hehehehehe, now take this america!"

signed
you know who

[syntacks]

consider this next time you fill up...

for every $0.01 rise at the pumps, the oil company takes in $1,000,000.00 in profits.

[Rinaldo]

Originally Posted by Mako

Has nothing to do with OPEC or price gouging, OPEC is actually struggling to relieve price pressure. They want to get gas down as soon as possible as they don't want the American people getting smart and forcing congress to enact legislation that funds the research of widescale alternative fuels, thus curtailing long term demand for their precious black gold

It has to do with increased gasoline demand in July/August, which overloaded our refineries ability to process oil, combined with Katrina knocking a dozen Gulf refineries offline during the same peak timeframe. Rita then appeared, and while not strong enough to do major damage, forced the accelerated restarts of the platforms/refineries to be put on hold another three weeks.

Any other questions I can answer for you today Rinaldo?

Gas pricing will fall, but not for another month or so. And as commodities investors exit Oil en masse (as they have the past three days, thus lowering the price per barrel by over 20% versus its August peak already) the situation will return to fairly normal levels in Q1/06.

Perfect answer, thankyou.