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Gas Prices!!!



I've lightened my foot the past few weeks and im pretty surprised by the gas mileage my car is getting. I'm also happy that my work is only about 1 mile from my house if gas is expected to hit 4$ per gallon.
 
I see there's a lot of misunderstanding over the gas prices. People blaming oil companies and such. Guess what? You're the oil company!!!

Have a 401k? Any type of investment portfolio? The oil companies are publicly traded and owned. Who's reaping all those profits? Your retirement is. Here's a good read on it all:

The energy companies don't set the price of oil or of gasoline. The prices you pay for heating oil or gasoline aren't set in boardrooms in Texas but in trading rooms at commodities markets all over the world.

Gas prices aren't set in shadowy conferences in shooting lodges, but in rooms of people shouting or punching computer keys in London, New York, and Tokyo. Oil is a world commodity like tin or copper or rubber or coffee. The price is set by traders anticipating supply and demand.
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Ben Stein - Expert Financial Advice Columns on Yahoo! Personal Finance

The American Spectator
 
Sabrewings said:
I see there's a lot of misunderstanding over the gas prices. People blaming oil companies and such. Guess what? You're the oil company!!!

Have a 401k? Any type of investment portfolio? The oil companies are publicly traded and owned. Who's reaping all those profits? Your retirement is. Here's a good read on it all:



Ben Stein - Expert Financial Advice Columns on Yahoo! Personal Finance

The American Spectator
Click to expand...


LOL You must work for the Oil Company?? Or at should take a up a job as a spokesman for them :th_laugh-lol3:

While you are probably right, but how can you explain the billions in profit they make? Sure the traders make their price margins, but do the big oil companies have to follow their lead? NO! So what if they ONLY make 1 billion in profits and compared to 5 billion? And for the Executives of those big oil companies who make several millions in bonus money each year for keeping profits high? Where do you think that comes from?

So either the Wall Street traders are getting their pocket greased by big oil or Opec is lining their pockets as well. I would celebrate the day when oil drops like a rock and these traders suffer a major fall out and start jumping from their office buildings. Yes that sounds mean, but which would you rather have? I say let em jump! :th_nanana:

*****************EDITED after the Reading the Ben Stein piece you posted******************

I don't regret what I said above. I have always thought of Ben as being a standup guy. He is one of the few people out there who knows his stuff in most arenas of governement and the common man.

But having said that. He asks (and I paraphrase) "who do we blame?" Well we can blame the tree huggin hippies (when I say tree huggin hippies its a hodgepodge of environmentalists, democrats and replicians alike who think we should all be riding on scooters and smoking pot (just had to poke some fun there) and other people who simply dont get it) that cry about killing some poor spotted owl in Alaska where they have an ABUNDANCE of oil that has been untapped due to the sanctuary created in that one provence in Alaska.

I cant remember the exact name of the location, but its somewhere where you have to fly to it to even get to the reserve. I believe it is said to be around million arces of space that is basically blocked off from drilling due to the endangered species that inhabit the reserve. But my beef is that how long do we, the US, have to sit on our hands waiting on the hope that gas prices will fall? So far its been years, and the all the hippies who say we are in Iraq for oil are just frakkin stupid!

IF that were the case? We would NOT have the shortages we face today! Plain and simple. Iraq holds enough oil for us to make things go more smoothly, but there really has not been a whole lot of importing of Iraqi oil to the US. (Unless someone can find some statics on that thought?)

It is my understanding that the Big Oil companies WANT to drill on that protected Alaskan land, and their estimates state they would only use about 100,000 acres out of the million plus on that reserve. The hippies argue it would take years before the oil drilled from that area would be of any value to the US. While that "might" true, I would rather have that option opened up to us than have be at the mercy of OPEC or any other foriegn power that influences our way of life.

So while I still think the Oil companies make a profit off of us stands true (my personal belief), Ben is right in what he says. Maybe we need to take our "knives and forks" to the people that need to be lynched? The traders :D


As others have said, I hope this does not offend, but perhaps stir a good debate on this issue. :)
 
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I agree the blame is more than the oil companies. We are to blame too because even though prices have gone through the roof, consumption hasnt gone down.
I am by no means a hippie, or tree hugger. BUT I am against destroying or the risk of destroying wildlife preserves for oil. Even if we use 1 acre there what happens when there is an accident? Remember Valdeze? I want my children and their kids to have something. I have an encyclopedia set from when I was a kid and there are species and other wildlife now exitinct that werent when it was printed. We cant have a world of wall to wall concrete. A lot of people are in denial as to the current status and direction our planet is headed. I am not directing this to anyone in peticular, just gets me irritated that there is so much ignorance when it comes to wildlife.
A fine example is back home a developer cut down and built homes accross 1000s of acres of forest land. Then after people were living there they complained about deer in their neighborhoods, and because some people wrecked their fancy cars hitting deer raised heck to deminish the population. So the town voted to have a bait and shoot program. What F***ing ignorance. You built your home on the deer's natural home and then wonder why they are running around your neighborhood. WTF.
Sorry to get off on a tangent, but like I said too many ignorant people and irresponsibility when it comes to our natural world. We need to push for more environmentally friendly power sources and there is oil in many other places besides wildlife preserves. Example Iran has one of the worlds largest deposits. We bailed out Kuwait, freed Iraq and what did we get? I big bill for it. We act as the world police and us taxpayers reap no benefits from it. Also look at the election. Everyone wants to talk about race and gender instead of real issues such as the environment, taxes, healthcare, and Oil prices.
Its a big mess with no easy solution. I am as guilty too. I keep filling up a the pump despite the prices. I do not have a 401K and I chose where to invest my retirement money. Its not with oil companies. I did buy an economic car for the family VS a big SUV. I have tried to think more as of lately. We recycle more, conserve where it matters. If everyone cared just a little bit the payout is huge.
OK I'll get off my soap box and duck for cover because I am sure i ruffled feathers and will be blasted LOLOL
I meant no offense to anyone directly, its a general view on how things are going.
 
I never said the amount of profit they make is right, but just that you should not complain so much when you see your retirement fund going up. :th_winking:

Only trying to help set the record straight. I actually work for the Air Force, and we use bio-diesel. :th_laugh-lol2:
 


I just watched the CBS special on how many seed species are going extinct. A nobel prize winner writer was on talking about what its going to be like in the next hundred years. Really frickin scray.
There is a huge underground chamber in the north pole housing seeds in case of a global catastrophy
 
Sabrewings said:
I never said the amount of profit they make is right, but just that you should not complain so much when you see your retirement fund going up. :th_winking:

Only trying to help set the record straight. I actually work for the Air Force, and we use bio-diesel. :th_laugh-lol2:
Click to expand...

BIO diesel seems to be great. Speed channel had a diesel chevy truck they ran bio in and bolted on some power adders and it dynoed pretty sweet numbers. They said the exhaust smelled like french fries. I am considering buying a truck this year and I think I am going diesel so I can run BIO.
 
David99GTP said:
I agree the blame is more than the oil companies. We are to blame too because even though prices have gone through the roof, consumption hasnt gone down.
I am by no means a hippie, or tree hugger. BUT I am against destroying or the risk of destroying wildlife preserves for oil. Even if we use 1 acre there what happens when there is an accident? Remember Valdeze? I want my children and their kids to have something. I have an encyclopedia set from when I was a kid and there are species and other wildlife now exitinct that werent when it was printed. We cant have a world of wall to wall concrete. A lot of people are in denial as to the current status and direction our planet is headed. I am not directing this to anyone in peticular, just gets me irritated that there is so much ignorance when it comes to wildlife.
A fine example is back home a developer cut down and built homes accross 1000s of acres of forest land. Then after people were living there they complained about deer in their neighborhoods, and because some people wrecked their fancy cars hitting deer raised heck to deminish the population. So the town voted to have a bait and shoot program. What F***ing ignorance. You built your home on the deer's natural home and then wonder why they are running around your neighborhood. WTF.
Sorry to get off on a tangent, but like I said too many ignorant people and irresponsibility when it comes to our natural world. We need to push for more environmentally friendly power sources and there is oil in many other places besides wildlife preserves. Example Iran has one of the worlds largest deposits. We bailed out Kuwait, freed Iraq and what did we get? I big bill for it. We act as the world police and us taxpayers reap no benefits from it. Also look at the election. Everyone wants to talk about race and gender instead of real issues such as the environment, taxes, healthcare, and Oil prices.
Its a big mess with no easy solution. I am as guilty too. I keep filling up a the pump despite the prices. I do not have a 401K and I chose where to invest my retirement money. Its not with oil companies. I did buy an economic car for the family VS a big SUV. I have tried to think more as of lately. We recycle more, conserve where it matters. If everyone cared just a little bit the payout is huge.
OK I'll get off my soap box and duck for cover because I am sure i ruffled feathers and will be blasted LOLOL
I meant no offense to anyone directly, its a general view on how things are going.
Click to expand...

I have to agree with a lot of what you said. I live 1.5 miles from where we move to in 1963. It's really sad how "progress" has caused varieties of plant, animal and insect to disappear.
 
David99GTP said:
I agree the blame is more than the oil companies. We are to blame too because even though prices have gone through the roof, consumption hasnt gone down.
I am by no means a hippie, or tree hugger. BUT I am against destroying or the risk of destroying wildlife preserves for oil. Even if we use 1 acre there what happens when there is an accident? Remember Valdeze? I want my children and their kids to have something. I have an encyclopedia set from when I was a kid and there are species and other wildlife now exitinct that werent when it was printed. We cant have a world of wall to wall concrete. A lot of people are in denial as to the current status and direction our planet is headed. I am not directing this to anyone in peticular, just gets me irritated that there is so much ignorance when it comes to wildlife.
A fine example is back home a developer cut down and built homes accross 1000s of acres of forest land. Then after people were living there they complained about deer in their neighborhoods, and because some people wrecked their fancy cars hitting deer raised heck to deminish the population. So the town voted to have a bait and shoot program. What F***ing ignorance. You built your home on the deer's natural home and then wonder why they are running around your neighborhood. WTF.
Sorry to get off on a tangent, but like I said too many ignorant people and irresponsibility when it comes to our natural world. We need to push for more environmentally friendly power sources and there is oil in many other places besides wildlife preserves. Example Iran has one of the worlds largest deposits. We bailed out Kuwait, freed Iraq and what did we get? I big bill for it. We act as the world police and us taxpayers reap no benefits from it. Also look at the election. Everyone wants to talk about race and gender instead of real issues such as the environment, taxes, healthcare, and Oil prices.
Its a big mess with no easy solution. I am as guilty too. I keep filling up a the pump despite the prices. I do not have a 401K and I chose where to invest my retirement money. Its not with oil companies. I did buy an economic car for the family VS a big SUV. I have tried to think more as of lately. We recycle more, conserve where it matters. If everyone cared just a little bit the payout is huge.
OK I'll get off my soap box and duck for cover because I am sure i ruffled feathers and will be blasted LOLOL
I meant no offense to anyone directly, its a general view on how things are going.
Click to expand...

Excellent points David. I understand the housing situation thing here in St. Louis where housing developments go up and the deer get pushed somewhere else. Over the past 4 years now there have been major increases of deer vs. car accidents on the highways in the areas where those types of housing developments have cropped up.

While your example and mine are not uncommon, but we are talking about a preserve that is almost a million acres in size. How is 100,000 acres is going to affect the population of its animal inhabitance cant be that bad? I am sure there would be problems, I wouldn’t argue that. It's not like anyone lives on the reserve so they are not going to have Deer vs. car accidents like we see here. Also the reserve is an isolated location and the only way to get to it via airplane or boat from what I understand.

You brought up the Exxon Valdez incident. I understand that point. However that an isolated incident and the human error was to blame in that one, i.e. the Captain was drunk at the wheel. You know how that one is going to wind up! But think about this, how many oil spills have there truly been? The Valdez was one of those EXTREME cases. I think it is safe to say to count the overall environmental disasters caused by ships transporting oil are few than most folks want to admit.

Don’t get me wrong here, when they do happen they are catastrophic to the environment, both for humans and animals alike. But in regards to land based refineries how many disasters have you seen truly affecting the environment like ships transporting oil? Of hand I can only think of a few that have had any kind of impact on the environment and they have been nothing like what oil tankers can cause.

Does that give us the right to just tear down a nature reserve? NO! But when things are done right with today’s technology it has shown to be quite viable and safe to the environment. NO method is 100% safe, but if it gets the monkey off our backs and makes us, the US, less dependent on foreign oil than we currently are.

And like you, I am NOT a big SUV fan, I am glad to see the major companies turning around starting to offer more hybrid efficient SUV’s but the road is slow. Our cars, the little V6’s are nowhere near as harmful as those gas guzzling Surburans or those Ford Excursions. When I see those on the road, I just see our fuel going right out the window. Even with some V8 powered sedans out there, they are getting almost 30mpg to the gallon. I know with the new CAFÉ restrictions coming up in the next couple of years, cars are going to need to able to produce 35mpg. I think with today’s technology, it will not be hard to do in all honesty.

I want to in 5 years, or maybe a bit less, be able to get my G8 Sedan or next version of the GTO or whatever Pontiac comes up with and not fear about having to worry about such restrictions. We need regulation no doubt, but if we, the US, were more in control of our own destiny, then maybe that would be a reality. But the reality of present day is that we are stuck on OPEC’s teet. And until we can wean ourselves off that, we are going to be the same situation we are in now, but worse probably.
 


Sabrewings said:
I never said the amount of profit they make is right, but just that you should not complain so much when you see your retirement fund going up. :th_winking:

Only trying to help set the record straight. I actually work for the Air Force, and we use bio-diesel. :th_laugh-lol2:
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Oh I hear ya Sabre'. My 401k does not have any stocks allocated to oil companies nor have I put much thought into the idea of actually picking any up, cause sooner than later, that market is gonna fall flat on its face. Just like the housing market :)

And I commend you for working in our Arm Forces!!! And I am glad to see our military using such advancements in bio-diesel.
 
Good points too. Its a complicated situation with no easy answers. I want an H2 bad, but I refuse to drive an 11MPG vehicle. I sold my 3/4 ton work truck for that reason. The technology is there to make HP and have reasonable MPG ratings.
Your right the Valdeze was an isolated incident, human error to blame. But I am sure it wont be the last time we mess up. That was highly publicized, so everyone is aware. There has been a few other disasters that had very little news coverage. Unfortunately I doubt we will ever have a good answer to these issues.
As cheesey as it sounds if we all do our little part to help it makes a big difference. Take recycling. We put our little tote out each week. Most my neighbors dont. I told my son now think how many plastic bottles there are if you took all the totes on our block and added them up. Now what about the whole town, the whole city, so on so on. If everyone does just a little bit like that it makes an enormous impact on the big picture. Thats what I was getting at with my ignorance comments. People need to be more educated and realize that we all can make a big difference by doing just a small ammount of effort.
Know what I thought was strange, racing fuel here ( 100 Octane) is 5.99 a gallon. It has been 5.99 a gallon since I bought my car 2 years ago. Hmmm why doesnt that fluctuate as the rest of the fuel grades do??
 
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David99GTP said:
Good points too.

Know what I thought was strange, racing fuel here ( 100 Octane) is 5.99 a gallon. It has been 5.99 a gallon since I bought my car 2 years ago. Hmmm why doesnt that fluctuate as the rest of the fuel grades do??
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Thank you sir! And your points are quite valid as well. I am sure it won't be last mistake we make in our environment, but I think we are getting better!

As for the "race" fuel........

I think it might stay the same for the fact that is not something commonly used in the regular world of driving. Its a niche type of fuel and I don't think the traders on Wall Street affect that one, and I dont know how many of the Big Oil companies actually produce the race fuel. I am sure if more did, then we might actually see a reduction in cost cause of competition.

Just a thought :)

And it has been a pleasure going over these issues with you Sir! *tips his hat*
 
The main reason why race fuel prices don't get involved in price spikes is bacause race tracks buy let's say... 1000 gallons at $3.00, sell it for $4.00 til it's gone. The next 1000 gallons they buy might cost them $4.00, they adjust their prices accordingly.
It is a convenience for the drivers who want it, it isn't their means of profit.
 


Too bad our gas wasnt bought that way. Its like say oranges in the grocery store. If Florida gets a frost and ruins crops well the prices in the store dont go up immediately. it isnt until the store has to purchase more oranges which are priced more due to limited supply that the prices go up. The oranges in the store which were already bought stay the same price. If crude goes up the gas in the tanks didnt cost more. it was already bought and paid for. I know its a commodity thing and that whole process which dictates prices, just the principle ya know.
 
David99GTP said:
Too bad our gas wasnt bought that way. Its like say oranges in the grocery store. If Florida gets a frost and ruins crops well the prices in the store dont go up immediately. it isnt until the store has to purchase more oranges which are priced more due to limited supply that the prices go up. The oranges in the store which were already bought stay the same price. If crude goes up the gas in the tanks didnt cost more. it was already bought and paid for. I know its a commodity thing and that whole process which dictates prices, just the principle ya know.
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they are allowed to do that simply because they do. A grocer can't raise prices on products until he pays more (for one thing customers will leave the store) we have a local station here who buys his gas 3 truckloads at a time, they only deliver one, but he already paid for the other 2 (guess who has the lowest prices right now too, too bad he doesn't carry premium)
 
I know what you're saying. Problem is we dont have to buy oranges. We have to buy fuel. So we dont have a choice when it comes to fuel, if we did it'd be different.
 
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