Fuck gas prices...

[chevymann]

man i wish mine was 40 to 70 bucks to fill lol

[Guest]

tjamz;219720 wrote:
Or, it could be that if the commodity futures prices weren't bloated, a barrel of oil would have a realistic street value of ~$60/gallon....according to economists that I've heard speak.

I'm hoping you don't mean $60/gallon, but anyway, ROFL. If there's one group of people that knows the least about the economy, it's economists. Nevertheless, I'd love to see a definitive link suggesting an extremely valuable, inelastic, finite resource should realistically be priced at $60/barrel.

[Guest]

untitledfolder;219732 wrote:
http://money.cnn.com/2008/02/01/news/companies/exxon_earnings/

We pay more and Exxon continues to to post record profits, hmm.

True. Price of oil goes up, and if they continue to sell the same amount of product, their GROSS profit will go up. Have their operating/exploration costs increased at all? There's always two sides to the coin.

[MisterCMK]

reshalghoul;219764 wrote:
I'm hoping you don't mean $60/gallon, but anyway, ROFL. If there's one group of people that knows the least about the economy, it's economists. Nevertheless, I'd love to see a definitive link suggesting an extremely valuable, inelastic, finite resource should realistically be priced at $60/barrel.

Do you have your head buried in the sand or what? There have been many people who have said that if it weren't for the shitty dollar and all of the speculators the price per barrel would be around $60.

[Guest]

MisterCMK;219766 wrote:
Do you have your head buried in the sand or what? There have been many people who have said that if it weren't for the shitty dollar and all of the speculators the price per barrel would be around $60.

Please, I'd love to see definitive links.

[Guest]

If anyone wants to jog a few brain cells (MrCMK), I'd recommend this site to peruse.

http://www.theoildrum.com/

or

http://www.peakoil.com/

http://www.bloomberg.com/apps/news?pid=20601087&sid=a5eIZ7qh9xII&refer=home

Oil Rises Above $135 After Unexpected Drop in U.S. Inventories

"May 22 (Bloomberg) -- Crude oil rose to a record above $135 a barrel in New York on concern that supplies are inadequate after U.S. stockpiles unexpectedly dropped last week."

Wow, it must be speculators and a weak dollar using all that oil up. Definitely not the fact that the U.S. uses about 22 million barrels of oil per day. Nope, that's definitely not the problem.

[SmitEvo]

We still pay half of what Europe pays for a gallon of gas....it will hit at least $4.00 a gallon this summer.

[Guest]

SmitEvo;219775 wrote:
We still pay half of what Europe pays for a gallon of gas....it will hit at least $4.00 a gallon this summer.

No doubt. I said this months ago.

[DelSlow]

I dont think there is a shortage at all, if you talk to your parents or anyone around in the 70's they will tell you about a REAL shortage. When you were only allowed to buy a few gallons at a time....that shows me there really was a shortage. not any of this bullshit.

[Guest]

DelSlow;219778 wrote:
I dont think there is a shortage at all, if you talk to your parents or anyone around in the 70's they will tell you about a REAL shortage. When you were only allowed to buy a few gallons at a time....that shows me there really was a shortage. not any of this bullshit.

Still waiting for proof. I'll be happy to read it. Wasn't there a shortage of diesel fuel in ND last year?

[harm]

oil supply is up, demand is down, and our dollar sucks balls. pennies and nickels are now costing more to produce than they're worth. one of the main problems with oil prices is speculation.. prices are up because "experts" say they should be up. i'd look some shit up for proof but.. hey.. make up your own minds.:drunken_smilie:

[Guest]

harm;219786 wrote:
oil supply is up, demand is down, and our dollar sucks balls. pennies and nickels are now costing more to produce than they're worth. one of the main problems with oil prices is speculation.. prices are up because "experts" say they should be up. i'd look some shit up for proof but.. hey.. make up your own minds.:drunken_smilie:

Yeah, again, I'd love to take your word for it, but I'd like to read a link or two. I mean, I just posted a link copyrighted today that says U.S. inventories are down, indicating supply is low.

[Guest]

Wow, an article!

http://seattletimes.nwsource.com/html/businesstechnology/2004425507_fuelpriceqa20.html

"Clearly, there are underlying problems of supply. Production is flat in Russia, the world's second-ranked oil giant after Saudi Arabia. Civil unrest in Nigeria is knocking out about 1 million barrels per day."

And later...

"That question is hotly debated. The Commodities Futures Trading Commission, which regulates the trading of contracts for future delivery of oil — called futures — believes big pension funds and other institutional investors may accentuate a trend but are not the cause of high prices.

"If the fundamentals weren't strong, you couldn't play on the margin [speculate] in any event," said Frank Verrastro, director of energy programs for the policy research group Center for Strategic and International Studies."

Not to mention Mexico is set to be an net importer in about half a decade, as their largest oil field (and the world's second largest) crashes. Remember, after Canada, we get most of our imported oil from Mexico.

[harm]

and.. i heard rumor that we're running low on the additives that legally need to be included in each gallon of gas, possibly driving up prices to near 10 bucks per gallon by this summer. it's just speculation.. of course.. but hey.. if we all expect it to be near ten bucks, won't everybody be happy at seven?

F&#$^$&@##&$^%&$#&$^%@&*@#!!!

[DelSlow]

http://www.npr.org/templates/story/story.php?storyId=90041682

"So, he says, we guess what the supply and demand are. And the best guess tells us that supply hasn't gone down enough and demand hasn't gone up enough over the last year to account for the huge run up in fuel prices."

Now shut up. We can go back and forth all day with links we find online backing up what we believe so lets just leave it at Shut. Up.

[ichibankilla]

Gas and diesel is high because it can be. As long as it's being used, the customer will pay whatever price it is. Our damn country runs on gas and diesel (planes,trains,autos,trucks and semis), so as long as there's a need the companies can charge whatever they want and we'll, not so happily, spend our money to get it.
It's kinda like a funeral home. I don't think people are just suddenly going to stop dying, so there will alway be need for one and as we all now that business is a quite profitable one.

[Parker]

wait.... why does the supply seem to fall when we get close to a holiday?.... hmmmm

LIES!!

[Guest]

Yes...I meant per barrel, not per gallon.

[dubbsy]

SmitEvo;219775 wrote:
We still pay half of what Europe pays for a gallon of gas....it will hit at least $4.00 a gallon this summer.

it'll hit $4.00 within a month....

I'd expect $5+ by this time next year...

[Guest]

reshalghoul;219781 wrote:
Still waiting for proof. I'll be happy to read it. Wasn't there a shortage of diesel fuel in ND last year?

http://www.financialsense.com/editorials/engdahl/2008/0502.html

yes, there was a shortage in diesel in ND last year....but only in ND. MN and MT seemed to have plenty.