MRS HORSEPOWER Posted February 26, 2011 Share Posted February 26, 2011 Wasnt it over $4.00 2 summers ago? as I remember filling up my truck and hitting $100 :-/ we just cut back on other stuff..Considering the best gas milage vehicle I own is a 91' Mustang GT Vert ....lol Yikes! Quote Link to comment Share on other sites More sharing options...
timmm55 Posted March 1, 2011 Share Posted March 1, 2011 In San Diego today I saw a LOW of $3.69 at ARCO to a HIGH of $4.05 for Shell Regular. Quote Link to comment Share on other sites More sharing options...
RangerM Posted March 1, 2011 Share Posted March 1, 2011 In San Diego today I saw a LOW of $3.69 at ARCO to a HIGH of $4.05 for Shell Regular. The daily price is changing so rapidly that the stations that haven't filled their tanks in the last couple of days are about 15 cents cheaper around here. Quote Link to comment Share on other sites More sharing options...
NLPRacing Posted March 1, 2011 Share Posted March 1, 2011 Not to be insulting, but your post seems to indicate that you're forgetting the most basic principle of economics: supply and demand. If there is more supply, the price will go down. It really is just that simple. Yes, it costs more to extract the oil we have here than it does in Saudi Arabia. All that means is that oil has to be a certain price before the oil companies would bother pumping it out of the ground here. From what I've heard, even the hardest to get at oil reserves are profitable at about $65/barrel. With prices at $100, they would definitely be pumping our domestic supplies if the government would let them. At that point more supply would drive down prices. If prices got below that $65/barrel mark, some production would start shutting down, supply would drop, and prices recover. It's just supply and demand working like it should. I don't buy into the big, bad oil company thing. Sure, they're big greedy selfish corporations, but no more so than any other big US corporation. I do think that we should open up more of our national reserves, but at the same time we need regulation that is more like the nuclear industry to keep the oil companies from trashing the environment. I work in the nuclear industry, and Safety and the Environment really are #1 for us - because we realize that if they weren't #1, we'd be out of business really fast. The nuclear industry does a lot of things differently to make Safety and Enviroment #1 that other industries could really benefit from. No offense taken. I do understand supply and demand. I also understand that if few control the supply, they can also control the demand by limiting supply. I also know that the oil companies are not interested in investing billions of dollars into digging new wells to sell a barrel of oil for $65. In other words, they are not going to spend their own money to bring prices down for the consumer. If done right, it may work, but the oil lobby is strong and any laws opening up our national reserves would be written in their favor. Quote Link to comment Share on other sites More sharing options...
Sevensecondsuv Posted March 1, 2011 Share Posted March 1, 2011 No offense taken. I do understand supply and demand. I also understand that if few control the supply, they can also control the demand by limiting supply. I also know that the oil companies are not interested in investing billions of dollars into digging new wells to sell a barrel of oil for $65. In other words, they are not going to spend their own money to bring prices down for the consumer. If done right, it may work, but the oil lobby is strong and any laws opening up our national reserves would be written in their favor. The "investors" driving up the cost of oil are also to blame. They're treating a critical commodity as just another way to make a quick buck. I've heard that the actual supply and demand price for oil is somewhere around $40 - $50 / barrel currently and that the excess in the actual current price is due to speculation. I would be in favor of a regulation banning traders from buying oil unless they are representing an entity that actually has a real use for it. Quote Link to comment Share on other sites More sharing options...
twintornados Posted March 1, 2011 Share Posted March 1, 2011 Pretty good chance of $4 a gallon gas since oil hit $100 today. So is this deja vu all over again? Finally going to step up and get that TDI Jetta??? Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted March 1, 2011 Share Posted March 1, 2011 What will happen?? NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!! Quote Link to comment Share on other sites More sharing options...
aneekr Posted March 2, 2011 Share Posted March 2, 2011 The "investors" driving up the cost of oil are also to blame. They're treating a critical commodity as just another way to make a quick buck. I've heard that the actual supply and demand price for oil is somewhere around $40 - $50 / barrel currently and that the excess in the actual current price is due to speculation. I would be in favor of a regulation banning traders from buying oil unless they are representing an entity that actually has a real use for it. Speculators are not to blame; this oft cited assertion has been debunked by several studies. Speculation that is firmly grounded in proper analysis of markets injects liquidity and dampens price oscillations by conveying market signals early on. Quote Link to comment Share on other sites More sharing options...
Sevensecondsuv Posted March 2, 2011 Share Posted March 2, 2011 (edited) Speculators are not to blame; this oft cited assertion has been debunked by several studies. Speculation that is firmly grounded in proper analysis of markets injects liquidity and dampens price oscillations by conveying market signals early on. Yeah, and if any of that were true gas would still be $3.00/gallon because the situation in Libya and Egypt hasn't actually had a significant effect on supply - the only reason oil jumped $15 overnight was the speculators trying to make a buck on the latest scare. All that being said, I keep getting back to the "if you can't beat 'em, join 'em" argument. If I were to start to making big money on oil, I wouldn't care how much a gallon of gas costs! There we go, now I'm thinking like an American Capitalist again! :happy feet: Edited March 2, 2011 by Sevensecondsuv Quote Link to comment Share on other sites More sharing options...
ulev1st Posted March 2, 2011 Share Posted March 2, 2011 Politics......the rich just keep getting richer and the poor schmuk at the bottom pays out the butt! Quote Link to comment Share on other sites More sharing options...
NLPRacing Posted March 2, 2011 Share Posted March 2, 2011 The "investors" driving up the cost of oil are also to blame. They're treating a critical commodity as just another way to make a quick buck. I've heard that the actual supply and demand price for oil is somewhere around $40 - $50 / barrel currently and that the excess in the actual current price is due to speculation. I would be in favor of a regulation banning traders from buying oil unless they are representing an entity that actually has a real use for it. Speculators are not to blame; this oft cited assertion has been debunked by several studies. Speculation that is firmly grounded in proper analysis of markets injects liquidity and dampens price oscillations by conveying market signals early on. Yeah, and if any of that were true gas would still be $3.00/gallon because the situation in Libya and Egypt hasn't actually had a significant effect on supply - the only reason oil jumped $15 overnight was the speculators trying to make a buck on the latest scare. All that being said, I keep getting back to the "if you can't beat 'em, join 'em" argument. If I were to start to making big money on oil, I wouldn't care how much a gallon of gas costs! There we go, now I'm thinking like an American Capitalist again! :happy feet: Here's an article I ran across this morning, intersting read: CNN - Oil prices are too high. Period. There are no legitimate supply concerns regarding oil right now. But even though there have been cutbacks in Libyan oil production, Saudi Arabia has increased its production to try and offset the loss of Libyan supply. Quote Link to comment Share on other sites More sharing options...
probowler Posted March 13, 2011 Share Posted March 13, 2011 Almost here. $3,.88 for regular in alaska Quote Link to comment Share on other sites More sharing options...
DEREKC Posted March 13, 2011 Share Posted March 13, 2011 Count yourself lucky that you are not in Canada were gas is currently around $1.22 a litre, or $4.65 a gallon. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted March 17, 2011 Share Posted March 17, 2011 Count yourself lucky that you are not in Canada were gas is currently around $1.22 a litre, or $4.65 a gallon. $1.40 / litre in Australia, that's around US $5.00/gallon Quote Link to comment Share on other sites More sharing options...
mettech Posted March 17, 2011 Share Posted March 17, 2011 Politics......the rich just keep getting richer and the poor schmuk at the bottom pays out the butt! Or........ the people that doesn't progress and continue to improve get left behind. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted March 19, 2011 Share Posted March 19, 2011 (edited) In Australia we found that previous rises and sustained higher fuel prices have made buyer chose diesels in SUVs and 4x4 and 4x2 pick ups, there is some bleed into sedans with diesels but it's still less than around 20-30% which offers manufacturers similar profit margins as performance options. I know the situation is not the same in the US and i can understand why Ecoboost is a very smart move for a lot of technical issues and buyer demographics/preferences for gasoline. Heck, we may even switch away from diesel to Ecoboost too if global emission regs keep getting tougher. Ecoboost in Mondeo is offering 20% better economy over the previous 2.3 I-4 NA version, that has to be a huge selling point even if it's not quite as efficient as a diesel.... Edited March 19, 2011 by jpd80 Quote Link to comment Share on other sites More sharing options...
TomServo92 Posted March 26, 2011 Share Posted March 26, 2011 Where's Lybia? I know Libya is but I'm familiar with Lybia? Is that one of those fantasy lands that mlhm5 goes to when he's not stirring the pot on BON? Quote Link to comment Share on other sites More sharing options...
Jvrad3 Posted April 12, 2011 Share Posted April 12, 2011 The politics involved with the implementation of diesel technology in vehicles here in the U.S. absolutely makes me sick! There is obviously more to the situation that we are not aware of. Diesel itself has a much higher energy content than gasoline. There are vehicles (diesel) in Europe that attain 60+ mpg, and are not allowed here! 1 Quote Link to comment Share on other sites More sharing options...
BCM Posted April 13, 2011 Share Posted April 13, 2011 The politics involved with the implementation of diesel technology in vehicles here in the U.S. absolutely makes me sick! There is obviously more to the situation that we are not aware of. Diesel itself has a much higher energy content than gasoline. There are vehicles (diesel) in Europe that attain 60+ mpg, and are not allowed here! The other problem is that most US refineries weren't built to provide higher volumes of diesel. Remember when diesel used to be cheaper than regular gas? As it got more popular, supply and demand at work, diesel is now close to or more expensive than premium... Quote Link to comment Share on other sites More sharing options...
Jvrad3 Posted April 13, 2011 Share Posted April 13, 2011 The other problem is that most US refineries weren't built to provide higher volumes of diesel. Remember when diesel used to be cheaper than regular gas? As it got more popular, supply and demand at work, diesel is now close to or more expensive than premium... Correct.. And there in lies another problem.. The extreme opposition to building new refineries in the US because of environmental and the "not in my backyard" attitude only contribute to the supply problem (the last new refinery built in the US was 1976). Quote Link to comment Share on other sites More sharing options...
aneekr Posted April 13, 2011 Share Posted April 13, 2011 Where's Lybia? I know Libya is but I'm familiar with Lybia? Is that one of those fantasy lands that mlhm5 goes to when he's not stirring the pot on BON? That's it. Quote Link to comment Share on other sites More sharing options...
twintornados Posted April 13, 2011 Share Posted April 13, 2011 Looking at the title of this thread makes me chuckle.....In NY State, gassing up in Westchester county town of Bedford Hills, the price is $4.09 this morning...what will happen? I shrug my shoulders, curse under my breath, insert my credit card in the pump and start filling the tank again.....<sigh> Quote Link to comment Share on other sites More sharing options...
mettech Posted April 14, 2011 Share Posted April 14, 2011 Floggings Will Continue Until Morale Improves Tee shrits Quote Link to comment Share on other sites More sharing options...
RangerM Posted April 14, 2011 Share Posted April 14, 2011 (edited) Where's Lybia? Between her thighs. (if she's on the chunky side) Edited April 14, 2011 by RangerM Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.