4.75What are some of the estimates of how high oil prices will be next year?
$3.50....$3.60..- Do I hear, $3.75 by July '07- Wait!- There's a $3.90 in N.Y.C., - going, going- gas is going to be SOLD, to the poor lady pumping it into her oversized SUV at $4. a gallon in Des Moines, Iowa- a year from today. ... Happy motoring! :)What are some of the estimates of how high oil prices will be next year?
2.20
I predict that barrels will top out at $80.00 by the en dof the year which makes gas about 15 to 25 cents more than it is now
Wednesday, April 28, 2010
Transmission oil change price?
For a 2001 honda civic, is $60 a good price for a transmission oil change? the service people claim it's so high because synthetic oil must be used as my car is now at the 134,000 mile mark.Transmission oil change price?
$60 is actually a really good price. I'm pricing a transmission flush/service for my 2002 VW Golf and the best price found is $89.95 (and this is with a $35 off coupon).
Make sure that whoever is doing it is doing a FUL fluid change (including the torque converter etc...) and replacing your gasket and filter.
(you're referring to transmission so I assume you're talking about your ATF fluid NOT a standard oil change)
Transmission oil change price?
Thats a steal!
$60 is actually a really good price. I'm pricing a transmission flush/service for my 2002 VW Golf and the best price found is $89.95 (and this is with a $35 off coupon).
Make sure that whoever is doing it is doing a FUL fluid change (including the torque converter etc...) and replacing your gasket and filter.
(you're referring to transmission so I assume you're talking about your ATF fluid NOT a standard oil change)
Transmission oil change price?
Thats a steal!
Why is it that whenever oil prices have risen by 60% or more?
..recession has almost always followed.Why is it that whenever oil prices have risen by 60% or more?
Hi,
The two are related parts of the business cycle. Good times are followed by bad times. With oil, commodity prices rarely outpace inflation except in times of exceptional increases in demand.
These are typically temporary, and often are temporary commodity-price bubbles.
Example:
During 2006 and 2007, we saw a rise in oil prices because the world economy was growing and its appetite and demand for oil was growing. As the demand for oil caused lower invetories and expectations for higher future prices, investors bought into oil contracts and oil futures both to guarantee themselves a certain price of oil and to speculate on future prices increases, betting they could make money by making the right bet. As the world economy was dragged down by the US economy, the price of oil was similarly affected as its price could only be justified during good times when prices were expected to continue rising. As the first hints of recession started, investors new the oil price party was over.
Good times are often associated with rising price pressures (inflationary pressures), rising incomes, low interest rates, growing economy, rising GDP.
Bad times are often associated with easing price pressures (deflationary pressures), dropping incomes, high interest rates, slowing economy, dropping GDP.Why is it that whenever oil prices have risen by 60% or more?
increased in oil prices doesn't cause recession, it does caused inflation, where the value of dollar depreciated and that's why prices went up.
recession occurred when the price of everything dropped, and businesses laid of workers to keep their profit, that increased the unemployment rate.
we are in the recession not because the oil is decreasing dramatically, but the prices for everything is decreasing, or it's about to decrease (well..lowered the oil price did contribute to that.) that mean the company aren't going to make as much as it use to, therefore, they have to laid off workers.
They are solutions to resolve this recession we are about to have. we can lower the min wages (like that's going to happen! ) or we can increase our expenditure to bring the price up again.
Because everything is related to the price of fuels from heating your home to going out to eat. The cost of transporting goods goes up and every industry feels the crunch and they pass those costs on to the consumers who are already burdened by the high cost at the pumps.
Because it's a reflection of the failure of the capitalist system, oil and capitalism are intertwined.scars
Hi,
The two are related parts of the business cycle. Good times are followed by bad times. With oil, commodity prices rarely outpace inflation except in times of exceptional increases in demand.
These are typically temporary, and often are temporary commodity-price bubbles.
Example:
During 2006 and 2007, we saw a rise in oil prices because the world economy was growing and its appetite and demand for oil was growing. As the demand for oil caused lower invetories and expectations for higher future prices, investors bought into oil contracts and oil futures both to guarantee themselves a certain price of oil and to speculate on future prices increases, betting they could make money by making the right bet. As the world economy was dragged down by the US economy, the price of oil was similarly affected as its price could only be justified during good times when prices were expected to continue rising. As the first hints of recession started, investors new the oil price party was over.
Good times are often associated with rising price pressures (inflationary pressures), rising incomes, low interest rates, growing economy, rising GDP.
Bad times are often associated with easing price pressures (deflationary pressures), dropping incomes, high interest rates, slowing economy, dropping GDP.Why is it that whenever oil prices have risen by 60% or more?
increased in oil prices doesn't cause recession, it does caused inflation, where the value of dollar depreciated and that's why prices went up.
recession occurred when the price of everything dropped, and businesses laid of workers to keep their profit, that increased the unemployment rate.
we are in the recession not because the oil is decreasing dramatically, but the prices for everything is decreasing, or it's about to decrease (well..lowered the oil price did contribute to that.) that mean the company aren't going to make as much as it use to, therefore, they have to laid off workers.
They are solutions to resolve this recession we are about to have. we can lower the min wages (like that's going to happen! ) or we can increase our expenditure to bring the price up again.
Because everything is related to the price of fuels from heating your home to going out to eat. The cost of transporting goods goes up and every industry feels the crunch and they pass those costs on to the consumers who are already burdened by the high cost at the pumps.
Because it's a reflection of the failure of the capitalist system, oil and capitalism are intertwined.
Isn't now a good time for the price of gas to double? The Oil CEOs probably lose a lot of $ in the stock crash?
Shouldn't we maybe voluntarily offer to pay more so they don't go broke like the banks? Maybe if the banks were charging us more for interest they wouldn't be in this poor situation? Its so sad that the bankers and CEOs may soon be out of work. What can we do to help them? Don't forget, its what Americans do: We help people when they are down.
What are you doing to help?Isn't now a good time for the price of gas to double? The Oil CEOs probably lose a lot of $ in the stock crash?
It is not a very good time to help the CEO's. They already have their golden parachutes and we don't..Isn't now a good time for the price of gas to double? The Oil CEOs probably lose a lot of $ in the stock crash?
Iraq, Iran , Saudi Arabia ( the oil cartel ) set the price of oil.
What are you doing to help?Isn't now a good time for the price of gas to double? The Oil CEOs probably lose a lot of $ in the stock crash?
It is not a very good time to help the CEO's. They already have their golden parachutes and we don't..Isn't now a good time for the price of gas to double? The Oil CEOs probably lose a lot of $ in the stock crash?
Iraq, Iran , Saudi Arabia ( the oil cartel ) set the price of oil.
How do analysts work out profit forecasts for oil companies and how do they work out price targets?
Same as for any company. Projecting sales, costs, growth rates, investment in themselves, etc. Factor in the general economy, the general outlook for the industry and what they are told by the company. Most companies do provide guidance. The company and the analysts fudge to the downside so they can report better than expected results.How do analysts work out profit forecasts for oil companies and how do they work out price targets?
They use theoretical pricingfor oil.
They use theoretical pricingfor oil.
Why does oil increase in price based on fake assumptions?
Please state these ';fake'; assumptions so we know what you are talking about.
Speculators.Why does oil increase in price based on fake assumptions?
because its all a bunch of crap and there ain't nothing we seem to be doing about it.
Speculators.Why does oil increase in price based on fake assumptions?
because its all a bunch of crap and there ain't nothing we seem to be doing about it.
If the price of oil has dropped, why are gas prices sky rocketing?
The answer lies in the question. Oil prices may have dropped (not sure if they did or not, they were up to about $63/barrel at the end of March rising about 10 dollars since January) but Gasoline is only one by-product of oil. Hence they are both separate industries, of course purchasing oil is an expense for the refining process, but supply and demand still hold out in this market economy.
Demand remains high for gasoline, regardless of crude oil prices, the other costs associated with oil refining have not changed, therefore there was no shift in the production possibilities curve (PPC). In our market economy, essentially this causes no change in the supply curve.
On top of that, being that it is nearing summertime, more people are traveling, therefore, increased demand (a rightward shift) overpowers the unchanged supply curve, and increases the price of gas in the process (changing market equilibrium to a higher price point).If the price of oil has dropped, why are gas prices sky rocketing?
Because there is little competition in the gasoline business. Five majors control almost all the gasoline consumption in the US. It costs about a billion dollars to build a new refinery and none have been built for about twenty years.
The reason for the above high cost of a new refinery is environmental specs are very rigid.
Think about it, if you owned a refinery and was making billions of dollars a year, would you build a new refinery and drive down gas prices and your profits?
We desperately need to encourage the US government to help develop alternate fuels such as coal to liquids. South Africa did it many years ago when they world refused to sell them crude oil. The technology exists so lets get on with it.If the price of oil has dropped, why are gas prices sky rocketing?
Because it can....Until we say that we've had enough of these lies and we're not going to buy fossil fuel burning automobiles
anymore...it will continue to what the Republican want. I'm 45 years old and I remember that we had an embargo on foreign oil back in the 70's. We were on vacation in Texas...yep Texas and my dad was not able to fill up the tank, he was only allowed 5 gallons at a time. There were no 24 hour mega gas station at every corner back then. Our presidents family fortune comes from oil and yes Saudi Arabia is their best interest right now.There was a e-mail posted where I work, DONT BUY ANY GASOLINE ON MAY 15th, pass it around.. We should also boycott foreign owned oil companies like Citco. We did what they told us to do,economize, buy fuel efficient cars, make less trips and what did that get us....Higher priced everything!!!!
When I was 17 back in 1977 gas was 97 cents a gallon, not one new refinery has been built since the last one opened in 1958. Wow if that don't make you think the government is in on it........I'd buy an electric car oh wait we tried that when the Tucker was in the news. The love of money is still the root of all evil....
I would said its greed!! They claim new refinery is needed but not willing to paid for it (for now). If and when they do the cost of building it will pass onto you and I. The environment is another issues they claim, if that is so, why don't they just up grade the refinery. some feel the price of gas will be at $4 a gallon. Not matter what they said, I still believe its greed!
P.S. The Europeans Germany %26amp; British are paying a heck alot more for a gallon of gas compare what we are paying in the states.
Believe it or not, oil prices could drop to about $10/gallon and gas prices would still be high. It's a matter of refining capacity... Theoretically, the oil could be free and gas could still be very expensive if refining capacity was low.
Also, ';boutique'; blends drive the price waaaay up. Washington DC may require one specific blend of gasoline, while neighboring Virginia cities and Maryland require their own blends. (There are hundreds of blends required throughout the country to target certain emissions.)
The key to all of this is government regulations. Building a refinery nowadays is almost impossible because no one wants them in their own back yards, and environmental controls are such that companies can almost not comply with them. Until we loosen environmental regs, look for gasoline prices to remain high.
The other option is to lower consumption, which lowers demand. When demand goes down, price goes down. But Americans don't seem to be interested in getting rid of our big gas guzzling cars
The economics of oil market is quite complicated, as well as relationship between the price of crude oil and gas.
BUT I'm sure you'll get a lot of answers from the ';experts'; here blaming the government and the President personally. You'll see.
bc its summer time and peple are travleing i think...but thats just my opinion. plus, they know people will pay for it. by the end of the summer gas is saposed to be around 4 bucks a gallon i heard
Demand remains high for gasoline, regardless of crude oil prices, the other costs associated with oil refining have not changed, therefore there was no shift in the production possibilities curve (PPC). In our market economy, essentially this causes no change in the supply curve.
On top of that, being that it is nearing summertime, more people are traveling, therefore, increased demand (a rightward shift) overpowers the unchanged supply curve, and increases the price of gas in the process (changing market equilibrium to a higher price point).If the price of oil has dropped, why are gas prices sky rocketing?
Because there is little competition in the gasoline business. Five majors control almost all the gasoline consumption in the US. It costs about a billion dollars to build a new refinery and none have been built for about twenty years.
The reason for the above high cost of a new refinery is environmental specs are very rigid.
Think about it, if you owned a refinery and was making billions of dollars a year, would you build a new refinery and drive down gas prices and your profits?
We desperately need to encourage the US government to help develop alternate fuels such as coal to liquids. South Africa did it many years ago when they world refused to sell them crude oil. The technology exists so lets get on with it.If the price of oil has dropped, why are gas prices sky rocketing?
Because it can....Until we say that we've had enough of these lies and we're not going to buy fossil fuel burning automobiles
anymore...it will continue to what the Republican want. I'm 45 years old and I remember that we had an embargo on foreign oil back in the 70's. We were on vacation in Texas...yep Texas and my dad was not able to fill up the tank, he was only allowed 5 gallons at a time. There were no 24 hour mega gas station at every corner back then. Our presidents family fortune comes from oil and yes Saudi Arabia is their best interest right now.There was a e-mail posted where I work, DONT BUY ANY GASOLINE ON MAY 15th, pass it around.. We should also boycott foreign owned oil companies like Citco. We did what they told us to do,economize, buy fuel efficient cars, make less trips and what did that get us....Higher priced everything!!!!
When I was 17 back in 1977 gas was 97 cents a gallon, not one new refinery has been built since the last one opened in 1958. Wow if that don't make you think the government is in on it........I'd buy an electric car oh wait we tried that when the Tucker was in the news. The love of money is still the root of all evil....
I would said its greed!! They claim new refinery is needed but not willing to paid for it (for now). If and when they do the cost of building it will pass onto you and I. The environment is another issues they claim, if that is so, why don't they just up grade the refinery. some feel the price of gas will be at $4 a gallon. Not matter what they said, I still believe its greed!
P.S. The Europeans Germany %26amp; British are paying a heck alot more for a gallon of gas compare what we are paying in the states.
Believe it or not, oil prices could drop to about $10/gallon and gas prices would still be high. It's a matter of refining capacity... Theoretically, the oil could be free and gas could still be very expensive if refining capacity was low.
Also, ';boutique'; blends drive the price waaaay up. Washington DC may require one specific blend of gasoline, while neighboring Virginia cities and Maryland require their own blends. (There are hundreds of blends required throughout the country to target certain emissions.)
The key to all of this is government regulations. Building a refinery nowadays is almost impossible because no one wants them in their own back yards, and environmental controls are such that companies can almost not comply with them. Until we loosen environmental regs, look for gasoline prices to remain high.
The other option is to lower consumption, which lowers demand. When demand goes down, price goes down. But Americans don't seem to be interested in getting rid of our big gas guzzling cars
The economics of oil market is quite complicated, as well as relationship between the price of crude oil and gas.
BUT I'm sure you'll get a lot of answers from the ';experts'; here blaming the government and the President personally. You'll see.
bc its summer time and peple are travleing i think...but thats just my opinion. plus, they know people will pay for it. by the end of the summer gas is saposed to be around 4 bucks a gallon i heard
What will Obama do to lower the price of oil??
MANY people here have said it is Bush's fault (HIS war) that gas prices are so high.
So, what will BHO do to lower gas prices??
Withdraw from Iraq? Will that lower prices??
Thanks!
As Always!What will Obama do to lower the price of oil??
Paying off deficits instead of prolonging the war as a tax dollar funnel, so the the value of the dollar returns, would be a great start.
Immediately after Bush leaves office, and the world starts wondering if things are really going to change, some value should return to the dollar.
The reason why crude oil prices are so high, is because speculators view Bush actions as a threat to supply. Example: his threats to Iran, his no dipomacy foriegn policy etc, all translate to wallstreet as potential threat to supply. So they buy large to take adavantage of a profitable situation.
They also buy commodities to prevent loss of investment power from falling dollar.What will Obama do to lower the price of oil??
Not much in the short run, but plenty in the long run. Ending the conflict in Iraq so that more of Iraqi oil reaches the market will help some. Ending the war spending and cutting the deficit will shore up the dollar and that will help some. Increasing R%26amp;D and investment in alternative and renewable energy will help some.
Wagging a wind-fall profit tax in front of the oil companies unless they invest in more infrastructure and refineries will help some.
Come to think of it, if Obama wins, you can bet the price of oil will drop. McCain would do none of those things.
I doubt that Obama will let his Vice President meet in secret with the heads of big oil to make energy policy. Cheney not only did that but took it to the Supreme Court to keep who attended and what was discussed a secret. This happened BEFORE the Iraq War.
Obama has made it clear he will:
1. Require the oil companies to invest some of their profits into researching alternative energy sources.
2. Work with the auto makers to raise the mileage standards and efficiency of new vehicles.
This is from Obama's blue print for change. Essentially his plan is to Pump a lot of money into research and development of more efficient and cleaner fuels and make into laws that cars have to be more efficient. of course according to him we are on a 18-30 year plan. And we all know how efficient and innovative the government can be. Other than that he really mentions nothing. Will you be happy with paying more taxes for solutions like this?
Set America on Path to Oil Independence
Obama's plan will reduce oil consumption by at least 35 percent, or 10 million barrels per day, by 2030. This will more than offset the equivalent of the oil we would import from OPEC nations in 2030.
* Increase Fuel Economy Standards: Obama will double fuel economy standards within 18 years. His plan will provide retooling tax credits and loan guarantees for domestic auto plants and parts manufacturers, so that they can build new fuel-efficient cars rather than overseas companies. Obama will also invest in advanced vehicle technology such as advanced lightweight materials and new engines.
Put controls on the speculators who are buying the oil futures and driving the price sky high. Other commodity brokers have regulations, except the oil speculators. Obama wants to put a price cap on fuel. Jimmy Carter did that in the 70s and it didn't work. The oil companies, are not obligated to sell gas, they did it in the past.
The price of oil, thus gasoline, is mostly out of the presidents hands.
The president could use his influence to reduce the massive tax on the oil industry and perhaps encourage them to build a few more refineries.
The president could encourage the building of more nuclear power plants.
The world use oil today is about 85,000,000 bbl/day. The world demand is about 87,000,000 bbl/day.The max oil production capacity is said to be about 100,000,000 bbl/day; however this number is challenged by some who say it is lower. Most of the easy oil is gone, thus the cost will continue to rise. America absolutely must develop alternate sources of energy available in this country. i.e. natural gas, clean coal, wind and solar power.
Natural gas should be first to be developed as a fuel for vehicles. Nuclear and coal for electricity and solar for home use.
When the world oil reserve is reduced to about half of its historical reserve volume, the price is going to really climb.
I am much too old to really worry about it, my children and grandchildren are going to face the greater burden of it. I am older today than McCain will be when he finishes his first term as president. I would vote for him even if he had Alzheimer's. He could still do a better job than Obama.
I don't believe a liberal president has the intestinal fortitude to do much, We need a long train of McCains to really get the job done.
Gas prices are so high because of the constraints and road blocks the House and Senate have placed on the oil industry here in America about drilling on our territory and building new refineries. We have plenty of oil sitting off off our coasts and in ANWAR, that we cannot touch because of legislation from Washington DC.
The oil in Iraq is reaching the market but, it is going to China and India, the U.S. gets none of it.
Alternate energy sources will not happen over night and we need dependency from foreign oil now in order to develop those alternate sources.
So, if you look at it he was a part of the problem in the first place what is he going to do that is any different?
Invade Iran and Saudi Arabia and nationalize their oil fields. Withdrawing from Iraq will probably cause the price of crude to rise because the commodities market will see it as a world crisis in waiting. Look for a major increase if Obama is elected. He will upset the delicate balance in the world and that causes panic and oil prices to rise. He has very little power to lower it only to make it go up.
LOL.
OBAMA doesn't care about the price of oil. He's into the carbon emission global warming baloney. It's going to be a tax if you use too much oil. To encourage us to reduce our oil consumption he will make sure oil and gas prices are HIGHER.
WHEN THE DEMS TOOK CONGRESS,THEY SAID THEY HAD PLANS TO LOWER GAS PRICES. WHY ARE THEY KEEPING THEIR IDEAS TO THEMSELVES? PLEASE SHARE IT WITH THE REST OF THE CLASS!!! OBAMA ISN'T ANY DIFFERENT. AND THE REPUBLICANS HAVE ALSO FAILED US. WE NEED TO GO IN A DIFFERENT DIRECTION. I KIND OF LIKE THE LIBERTARIAN PLATFORM AND BOB BARR. TAKE AS MUCH POWER AWAY FROM THE FEDERAL GOV'T AS POSSIBLE. AND CUT ALL THEIR EXTRAVAGENT SPENDING!!!
Prices for everything would go up not down with Hussein Obama. He will cause oil companies to pay higher taxes and in turn they will charge us higher prices. Because of that every thing will be higher. He wants change, but the type of change is toward more government control of every part of our lives. He is a socialist pure and simple, he will tear this country apart trying to socialize us.
Nothing.
But you WILL have universal health care, whether you want it or not. But don't worry, 'they' won't be paying for it, I and others like me will. The greed of the left never ceases to amaze me. ';Please! Come! Take what you like. I don't need it. I never did. I have no idea why I ever earned it in the first place. It does me no good, especially with the government here to take care of me and my family.';
Iraq withdrawal = $12 billion per month - increased promised vet benefits and other necessities.
Call it 10. Even I could crank up a cellulosic ethenol program and energy independence (in general) program for THAT much, and it might not ever require that which could go toward reducing the Dumbya Fed debt.
The president of the United States has nothing to do with globally traded commodities even though demand has lowered in the United States the price is still going up due to speculative investing. the price has gone up respectively all over the world bush nor Obama nor McCain can do anything about it
Lower it, his plan is to raise it, so that the taxes earned can be spent on getting some people free health care. Only some people, he don't feel that everyone deserves free health care.
He will do nothing at all. The Dems are all talk on this issue. They came to power in the Congress on the promise that they would lower fuel costs. It's been over two years now, and I'm still waiting.
A president's decisions can have an affect on the cost of oil indirectly. For instance, Bush and Congress decision to go into war shook up the market, making speculators shite their pants.
Obama is the most clueless kneegrow I have ever seen. Snoop Dog has more brains than this idiot.
More government. What else? More government is the solution to all our problems, isn;t it?
Obama could heat his home with some of the hot air from his mouth.
';Hope'; they get lower.
Yup. Less war, more drilling.
Throw Bush and his neocons in prison.
He'll drive a Prius in his motorcade.
Wave his magic ';change'; wand and solve all the worlds problems.
pull out of iraq and drill in n dakota
he'll talk to ahmedinejad and beg for some free oil.
Nothing at all. Get a clue, don't vote for Socialism!
invade the Saudi peninsula and make them all our bitches!
Barack Obama's Plan
Reduce Carbon Emissions 80 Percent by 2050
Cap and Trade: Obama supports implementation of a market-based cap-and-trade system to reduce carbon emissions by the amount scientists say is necessary: 80 percent below 1990 levels by 2050. Obama's cap-and-trade system will require all pollution credits to be auctioned. A 100 percent auction ensures that all polluters pay for every ton of emissions they release, rather than giving these emission rights away to coal and oil companies. Some of the revenue generated by auctioning allowances will be used to support the development of clean energy, to invest in energy efficiency improvements, and to address transition costs, including helping American workers affected by this economic transition.
Confront Deforestation and Promote Carbon Sequestration: Obama will develop domestic incentives that reward forest owners, farmers, and ranchers when they plant trees, restore grasslands, or undertake farming practices that capture carbon dioxide from the atmosphere.
Invest in a Clean Energy Future
Invest $150 Billion over 10 Years in Clean Energy: Obama will invest $150 billion over 10 years to advance the next generation of biofuels and fuel infrastructure, accelerate the commercialization of plug-in hybrids, promote development of commercial-scale renewable energy, invest in low-emissions coal plants, and begin the transition to a new digital electricity grid. A principal focus of this fund will be devoted to ensuring that technologies that are developed in the U.S. are rapidly commercialized in the U.S. and deployed around the globe.
Double Energy Research and Development Funding: Obama will double science and research funding for clean energy projects including those that make use of our biomass, solar and wind resources.
Invest in a Skilled Clean Technologies Workforce: Obama will use proceeds from the cap-and-trade auction program to invest in job training and transition programs to help workers and industries adapt to clean technology development and production. Obama will also create an energy-focused Green Jobs Corps to connect disconnected and disadvantaged youth with job skills for a high-growth industry.
Convert our Manufacturing Centers into Clean Technology Leaders: Obama will establish a federal investment program to help manufacturing centers modernize and Americans learn the new skills they need to produce green products.
Clean Technologies Deployment Venture Capital Fund: Obama will create a Clean Technologies Venture Capital Fund to fill a critical gap in U.S. technology development. Obama will invest $10 billion per year into this fund for five years. The fund will partner with existing investment funds and our National Laboratories to ensure that promising technologies move beyond the lab and are commercialized in the U.S
Require 25 Percent of Renewable Electricity by 2025: Obama will establish a 25 percent federal Renewable Portfolio Standard (RPS) to require that 25 percent of electricity consumed in the U.S. is derived from clean, sustainable energy sources, like solar, wind and geothermal by 2025.
Develop and Deploy Clean Coal Technology: Obama will significantly increase the resources devoted to the commercialization and deployment of low-carbon coal technologies. Obama will consider whatever policy tools are necessary, including standards that ban new traditional coal facilities, to ensure that we move quickly to commercialize and deploy low carbon coal technology.
Support Next Generation Biofuels
Deploy Cellulosic Ethanol: Obama will invest federal resources, including tax incentives, cash prizes and government contracts into developing the most promising technologies with the goal of getting the first two billion gallons of cellulosic ethanol into the system by 2013.
Expand Locally-Owned Biofuel Refineries: Less than 10 percent of new ethanol production today is from farmer-owned refineries. New ethanol refineries help jumpstart rural economies. Obama will create a number of incentives for local communities to invest in their biofuels refineries.
Establish a National Low Carbon Fuel Standard: Barack Obama will establish a National Low Carbon Fuel Standard to speed the introduction of low-carbon non-petroleum fuels. The standard requires fuels suppliers to reduce the carbon their fuel emits by ten percent by 2020.
Increase Renewable Fuel Standard: Obama will require 36 billion gallons of renewable fuels to be included in the fuel supply by 2022 and will increase that to at least 60 billion gallons of advanced biofuels like cellulosic ethanol by 2030.
Set America on Path to Oil Independence
Obama's plan will reduce oil consumption by at least 35 percent, or 10 million barrels per day, by 2030. This will more than offset the equivalent of the oil we would import from OPEC nations in 2030.
Increase Fuel Economy Standards: Obama will double fuel economy standards within 18 years. His plan will provide retooling tax credits and loan guarantees for domestic auto plants and parts manufacturers, so that they can build new fuel-efficient cars rather than overseas companies. Obama will also invest in advanced vehicle technology such as advanced lightweight materials and new engines.
Improve Energy Efficiency 50 Percent by 2030
Set National Building Efficiency Goals: Barack Obama will establish a goal of making all new buildings carbon neutral, or produce zero emissions, by 2030. He'll also establish a national goal of improving new building efficiency by 50 percent and existing building efficiency by 25 percent over the next decade to help us meet the 2030 goal.
Establish a Grant Program for Early Adopters: Obama will create a competitive grant program to award those states and localities that take the first steps to implement new building codes that prioritize energy efficiency.
Invest in a Digital Smart Grid: Obama will pursue a major investment in our utility grid to enable a tremendous increase in renewable generation and accommodate modern energy requirements, such as reliability, smart metering, and distributed storage
Restore U.S. Leadership on Climate Change
Create New Forum of Largest Greenhouse Gas Emitters: Obama will create a Global Energy Forum 鈥?that includes all G-8 members plus Brazil, China, India, Mexico and South Africa 鈥搕he largest energy consuming nations from both the developed and developing world. The forum would focus exclusively on global energy and environmental issues.
Re-Engage with the U.N. Framework Convention on Climate Change: The UNFCCC process is the main international forum dedicated to addressing the climate problem and an Obama administration will work constructively within it.
So, what will BHO do to lower gas prices??
Withdraw from Iraq? Will that lower prices??
Thanks!
As Always!What will Obama do to lower the price of oil??
Paying off deficits instead of prolonging the war as a tax dollar funnel, so the the value of the dollar returns, would be a great start.
Immediately after Bush leaves office, and the world starts wondering if things are really going to change, some value should return to the dollar.
The reason why crude oil prices are so high, is because speculators view Bush actions as a threat to supply. Example: his threats to Iran, his no dipomacy foriegn policy etc, all translate to wallstreet as potential threat to supply. So they buy large to take adavantage of a profitable situation.
They also buy commodities to prevent loss of investment power from falling dollar.What will Obama do to lower the price of oil??
Not much in the short run, but plenty in the long run. Ending the conflict in Iraq so that more of Iraqi oil reaches the market will help some. Ending the war spending and cutting the deficit will shore up the dollar and that will help some. Increasing R%26amp;D and investment in alternative and renewable energy will help some.
Wagging a wind-fall profit tax in front of the oil companies unless they invest in more infrastructure and refineries will help some.
Come to think of it, if Obama wins, you can bet the price of oil will drop. McCain would do none of those things.
I doubt that Obama will let his Vice President meet in secret with the heads of big oil to make energy policy. Cheney not only did that but took it to the Supreme Court to keep who attended and what was discussed a secret. This happened BEFORE the Iraq War.
Obama has made it clear he will:
1. Require the oil companies to invest some of their profits into researching alternative energy sources.
2. Work with the auto makers to raise the mileage standards and efficiency of new vehicles.
This is from Obama's blue print for change. Essentially his plan is to Pump a lot of money into research and development of more efficient and cleaner fuels and make into laws that cars have to be more efficient. of course according to him we are on a 18-30 year plan. And we all know how efficient and innovative the government can be. Other than that he really mentions nothing. Will you be happy with paying more taxes for solutions like this?
Set America on Path to Oil Independence
Obama's plan will reduce oil consumption by at least 35 percent, or 10 million barrels per day, by 2030. This will more than offset the equivalent of the oil we would import from OPEC nations in 2030.
* Increase Fuel Economy Standards: Obama will double fuel economy standards within 18 years. His plan will provide retooling tax credits and loan guarantees for domestic auto plants and parts manufacturers, so that they can build new fuel-efficient cars rather than overseas companies. Obama will also invest in advanced vehicle technology such as advanced lightweight materials and new engines.
Put controls on the speculators who are buying the oil futures and driving the price sky high. Other commodity brokers have regulations, except the oil speculators. Obama wants to put a price cap on fuel. Jimmy Carter did that in the 70s and it didn't work. The oil companies, are not obligated to sell gas, they did it in the past.
The price of oil, thus gasoline, is mostly out of the presidents hands.
The president could use his influence to reduce the massive tax on the oil industry and perhaps encourage them to build a few more refineries.
The president could encourage the building of more nuclear power plants.
The world use oil today is about 85,000,000 bbl/day. The world demand is about 87,000,000 bbl/day.The max oil production capacity is said to be about 100,000,000 bbl/day; however this number is challenged by some who say it is lower. Most of the easy oil is gone, thus the cost will continue to rise. America absolutely must develop alternate sources of energy available in this country. i.e. natural gas, clean coal, wind and solar power.
Natural gas should be first to be developed as a fuel for vehicles. Nuclear and coal for electricity and solar for home use.
When the world oil reserve is reduced to about half of its historical reserve volume, the price is going to really climb.
I am much too old to really worry about it, my children and grandchildren are going to face the greater burden of it. I am older today than McCain will be when he finishes his first term as president. I would vote for him even if he had Alzheimer's. He could still do a better job than Obama.
I don't believe a liberal president has the intestinal fortitude to do much, We need a long train of McCains to really get the job done.
Gas prices are so high because of the constraints and road blocks the House and Senate have placed on the oil industry here in America about drilling on our territory and building new refineries. We have plenty of oil sitting off off our coasts and in ANWAR, that we cannot touch because of legislation from Washington DC.
The oil in Iraq is reaching the market but, it is going to China and India, the U.S. gets none of it.
Alternate energy sources will not happen over night and we need dependency from foreign oil now in order to develop those alternate sources.
So, if you look at it he was a part of the problem in the first place what is he going to do that is any different?
Invade Iran and Saudi Arabia and nationalize their oil fields. Withdrawing from Iraq will probably cause the price of crude to rise because the commodities market will see it as a world crisis in waiting. Look for a major increase if Obama is elected. He will upset the delicate balance in the world and that causes panic and oil prices to rise. He has very little power to lower it only to make it go up.
LOL.
OBAMA doesn't care about the price of oil. He's into the carbon emission global warming baloney. It's going to be a tax if you use too much oil. To encourage us to reduce our oil consumption he will make sure oil and gas prices are HIGHER.
WHEN THE DEMS TOOK CONGRESS,THEY SAID THEY HAD PLANS TO LOWER GAS PRICES. WHY ARE THEY KEEPING THEIR IDEAS TO THEMSELVES? PLEASE SHARE IT WITH THE REST OF THE CLASS!!! OBAMA ISN'T ANY DIFFERENT. AND THE REPUBLICANS HAVE ALSO FAILED US. WE NEED TO GO IN A DIFFERENT DIRECTION. I KIND OF LIKE THE LIBERTARIAN PLATFORM AND BOB BARR. TAKE AS MUCH POWER AWAY FROM THE FEDERAL GOV'T AS POSSIBLE. AND CUT ALL THEIR EXTRAVAGENT SPENDING!!!
Prices for everything would go up not down with Hussein Obama. He will cause oil companies to pay higher taxes and in turn they will charge us higher prices. Because of that every thing will be higher. He wants change, but the type of change is toward more government control of every part of our lives. He is a socialist pure and simple, he will tear this country apart trying to socialize us.
Nothing.
But you WILL have universal health care, whether you want it or not. But don't worry, 'they' won't be paying for it, I and others like me will. The greed of the left never ceases to amaze me. ';Please! Come! Take what you like. I don't need it. I never did. I have no idea why I ever earned it in the first place. It does me no good, especially with the government here to take care of me and my family.';
Iraq withdrawal = $12 billion per month - increased promised vet benefits and other necessities.
Call it 10. Even I could crank up a cellulosic ethenol program and energy independence (in general) program for THAT much, and it might not ever require that which could go toward reducing the Dumbya Fed debt.
The president of the United States has nothing to do with globally traded commodities even though demand has lowered in the United States the price is still going up due to speculative investing. the price has gone up respectively all over the world bush nor Obama nor McCain can do anything about it
Lower it, his plan is to raise it, so that the taxes earned can be spent on getting some people free health care. Only some people, he don't feel that everyone deserves free health care.
He will do nothing at all. The Dems are all talk on this issue. They came to power in the Congress on the promise that they would lower fuel costs. It's been over two years now, and I'm still waiting.
A president's decisions can have an affect on the cost of oil indirectly. For instance, Bush and Congress decision to go into war shook up the market, making speculators shite their pants.
Obama is the most clueless kneegrow I have ever seen. Snoop Dog has more brains than this idiot.
More government. What else? More government is the solution to all our problems, isn;t it?
Obama could heat his home with some of the hot air from his mouth.
';Hope'; they get lower.
Yup. Less war, more drilling.
Throw Bush and his neocons in prison.
He'll drive a Prius in his motorcade.
Wave his magic ';change'; wand and solve all the worlds problems.
pull out of iraq and drill in n dakota
he'll talk to ahmedinejad and beg for some free oil.
Nothing at all. Get a clue, don't vote for Socialism!
invade the Saudi peninsula and make them all our bitches!
Barack Obama's Plan
Reduce Carbon Emissions 80 Percent by 2050
Cap and Trade: Obama supports implementation of a market-based cap-and-trade system to reduce carbon emissions by the amount scientists say is necessary: 80 percent below 1990 levels by 2050. Obama's cap-and-trade system will require all pollution credits to be auctioned. A 100 percent auction ensures that all polluters pay for every ton of emissions they release, rather than giving these emission rights away to coal and oil companies. Some of the revenue generated by auctioning allowances will be used to support the development of clean energy, to invest in energy efficiency improvements, and to address transition costs, including helping American workers affected by this economic transition.
Confront Deforestation and Promote Carbon Sequestration: Obama will develop domestic incentives that reward forest owners, farmers, and ranchers when they plant trees, restore grasslands, or undertake farming practices that capture carbon dioxide from the atmosphere.
Invest in a Clean Energy Future
Invest $150 Billion over 10 Years in Clean Energy: Obama will invest $150 billion over 10 years to advance the next generation of biofuels and fuel infrastructure, accelerate the commercialization of plug-in hybrids, promote development of commercial-scale renewable energy, invest in low-emissions coal plants, and begin the transition to a new digital electricity grid. A principal focus of this fund will be devoted to ensuring that technologies that are developed in the U.S. are rapidly commercialized in the U.S. and deployed around the globe.
Double Energy Research and Development Funding: Obama will double science and research funding for clean energy projects including those that make use of our biomass, solar and wind resources.
Invest in a Skilled Clean Technologies Workforce: Obama will use proceeds from the cap-and-trade auction program to invest in job training and transition programs to help workers and industries adapt to clean technology development and production. Obama will also create an energy-focused Green Jobs Corps to connect disconnected and disadvantaged youth with job skills for a high-growth industry.
Convert our Manufacturing Centers into Clean Technology Leaders: Obama will establish a federal investment program to help manufacturing centers modernize and Americans learn the new skills they need to produce green products.
Clean Technologies Deployment Venture Capital Fund: Obama will create a Clean Technologies Venture Capital Fund to fill a critical gap in U.S. technology development. Obama will invest $10 billion per year into this fund for five years. The fund will partner with existing investment funds and our National Laboratories to ensure that promising technologies move beyond the lab and are commercialized in the U.S
Require 25 Percent of Renewable Electricity by 2025: Obama will establish a 25 percent federal Renewable Portfolio Standard (RPS) to require that 25 percent of electricity consumed in the U.S. is derived from clean, sustainable energy sources, like solar, wind and geothermal by 2025.
Develop and Deploy Clean Coal Technology: Obama will significantly increase the resources devoted to the commercialization and deployment of low-carbon coal technologies. Obama will consider whatever policy tools are necessary, including standards that ban new traditional coal facilities, to ensure that we move quickly to commercialize and deploy low carbon coal technology.
Support Next Generation Biofuels
Deploy Cellulosic Ethanol: Obama will invest federal resources, including tax incentives, cash prizes and government contracts into developing the most promising technologies with the goal of getting the first two billion gallons of cellulosic ethanol into the system by 2013.
Expand Locally-Owned Biofuel Refineries: Less than 10 percent of new ethanol production today is from farmer-owned refineries. New ethanol refineries help jumpstart rural economies. Obama will create a number of incentives for local communities to invest in their biofuels refineries.
Establish a National Low Carbon Fuel Standard: Barack Obama will establish a National Low Carbon Fuel Standard to speed the introduction of low-carbon non-petroleum fuels. The standard requires fuels suppliers to reduce the carbon their fuel emits by ten percent by 2020.
Increase Renewable Fuel Standard: Obama will require 36 billion gallons of renewable fuels to be included in the fuel supply by 2022 and will increase that to at least 60 billion gallons of advanced biofuels like cellulosic ethanol by 2030.
Set America on Path to Oil Independence
Obama's plan will reduce oil consumption by at least 35 percent, or 10 million barrels per day, by 2030. This will more than offset the equivalent of the oil we would import from OPEC nations in 2030.
Increase Fuel Economy Standards: Obama will double fuel economy standards within 18 years. His plan will provide retooling tax credits and loan guarantees for domestic auto plants and parts manufacturers, so that they can build new fuel-efficient cars rather than overseas companies. Obama will also invest in advanced vehicle technology such as advanced lightweight materials and new engines.
Improve Energy Efficiency 50 Percent by 2030
Set National Building Efficiency Goals: Barack Obama will establish a goal of making all new buildings carbon neutral, or produce zero emissions, by 2030. He'll also establish a national goal of improving new building efficiency by 50 percent and existing building efficiency by 25 percent over the next decade to help us meet the 2030 goal.
Establish a Grant Program for Early Adopters: Obama will create a competitive grant program to award those states and localities that take the first steps to implement new building codes that prioritize energy efficiency.
Invest in a Digital Smart Grid: Obama will pursue a major investment in our utility grid to enable a tremendous increase in renewable generation and accommodate modern energy requirements, such as reliability, smart metering, and distributed storage
Restore U.S. Leadership on Climate Change
Create New Forum of Largest Greenhouse Gas Emitters: Obama will create a Global Energy Forum 鈥?that includes all G-8 members plus Brazil, China, India, Mexico and South Africa 鈥搕he largest energy consuming nations from both the developed and developing world. The forum would focus exclusively on global energy and environmental issues.
Re-Engage with the U.N. Framework Convention on Climate Change: The UNFCCC process is the main international forum dedicated to addressing the climate problem and an Obama administration will work constructively within it.
In terms of Supply and Demand, why are oil prices still rising?
We all know crude oil is going to run out sooner or later. But, I know many places such as Alberta in Fort McMurray, there's many oil rigs there and yet they still jack up the oil prices. What the reason behind it even though there is tons of oil?In terms of Supply and Demand, why are oil prices still rising?
The U.S. Senate Commerce Committee held a hearing on this very issue on June 3 2008, last Tuesday. The hearing was titled Energy Market Manipulation and Federal Enforcement Regimes. For a real eye opener, take a look at the testimony from that hearing:
http://commerce.senate.gov/public/index.鈥?/a>
In particular look at the testimony of Michael Greenberger, who served as the Director of the Division of Trading and Markets at the Commodity Futures Trading Commission from September 1997 to September 1999:
http://commerce.senate.gov/public/_files鈥?/a>
After reading this stuff, you will understand what exactly is going on with oil. You are paying at least $1 more for a gallon of gas than you would pay under non-manipulated supply and demand.
Any explanations that blame factors such as increased demand from China and India, dwindling supply, or ';peak oil';, are simply irrelevant. Nobody knows what the actual driving forces are, nor their actual effect, so long as large scale speculators such as hedge funds and Morgan Stanley (the latter is actually buying and stockpiling oil as a hedge against the falling dollar) continue to manipulate the price in unregulated markets.
Don't take my word for it -- read the testimony above. You'll gain a good clear understanding of what exactly has been going on.In terms of Supply and Demand, why are oil prices still rising?
Refining oil in to a product that can be used in the production of gasoline, plastics, and other products, is much more complicated than just taking the oil out of the ground. It is very expensive and slow to build up the machinery and labor force necessary to do this, not to mention the fact that many governments are involved in activities that restrict the import and exportation of oil. All of these factors make it difficult for supply to keep pace with rapidly increasing global demand (which is mostly driven by developing third world countries), and as long as demand is increasing quicker than supply, the price will rise.
Even though the demand for oil has fallen a little in most industrialized countries due to the high prices, the growth of the economies in Asia, especially China, means the would demand is still rising. In many oil producing countries (Russia, Mexico) the output is declining, and in only a few (Canada) is it increasing.
http://www.infoplease.com/ipa/A0922041.h鈥?/a>
The U.S. Senate Commerce Committee held a hearing on this very issue on June 3 2008, last Tuesday. The hearing was titled Energy Market Manipulation and Federal Enforcement Regimes. For a real eye opener, take a look at the testimony from that hearing:
http://commerce.senate.gov/public/index.鈥?/a>
In particular look at the testimony of Michael Greenberger, who served as the Director of the Division of Trading and Markets at the Commodity Futures Trading Commission from September 1997 to September 1999:
http://commerce.senate.gov/public/_files鈥?/a>
After reading this stuff, you will understand what exactly is going on with oil. You are paying at least $1 more for a gallon of gas than you would pay under non-manipulated supply and demand.
Any explanations that blame factors such as increased demand from China and India, dwindling supply, or ';peak oil';, are simply irrelevant. Nobody knows what the actual driving forces are, nor their actual effect, so long as large scale speculators such as hedge funds and Morgan Stanley (the latter is actually buying and stockpiling oil as a hedge against the falling dollar) continue to manipulate the price in unregulated markets.
Don't take my word for it -- read the testimony above. You'll gain a good clear understanding of what exactly has been going on.In terms of Supply and Demand, why are oil prices still rising?
Refining oil in to a product that can be used in the production of gasoline, plastics, and other products, is much more complicated than just taking the oil out of the ground. It is very expensive and slow to build up the machinery and labor force necessary to do this, not to mention the fact that many governments are involved in activities that restrict the import and exportation of oil. All of these factors make it difficult for supply to keep pace with rapidly increasing global demand (which is mostly driven by developing third world countries), and as long as demand is increasing quicker than supply, the price will rise.
Even though the demand for oil has fallen a little in most industrialized countries due to the high prices, the growth of the economies in Asia, especially China, means the would demand is still rising. In many oil producing countries (Russia, Mexico) the output is declining, and in only a few (Canada) is it increasing.
http://www.infoplease.com/ipa/A0922041.h鈥?/a>
Hey guys, i was just wondering.. what will the oil price be by the end of this year?
That really depends on where the oil execs plan to vacation in april.Hey guys, i was just wondering.. what will the oil price be by the end of this year?
Probally something that we can't affordHey guys, i was just wondering.. what will the oil price be by the end of this year?
I will guess $75 cuz it is an election year and I don't think it will go too much higher but if it does then I think it will come back down at the end of the year to where it is now at $75. Am I right? Time will tell.
74.00 a barrel.
Don't know about the actual price of a barrel of the stuff---but a good friend of mine who knows this stuff fairly well is saying that we (here in Texas we're paying about 2.89 usd per gallon right now) will be paying around $3.50 usd per gallon by the end of the year--and that price will be stable for at least three months
It will be behind your nose man... sorry to say that
but im looking at $90+ p.b
Probally something that we can't affordHey guys, i was just wondering.. what will the oil price be by the end of this year?
I will guess $75 cuz it is an election year and I don't think it will go too much higher but if it does then I think it will come back down at the end of the year to where it is now at $75. Am I right? Time will tell.
74.00 a barrel.
Don't know about the actual price of a barrel of the stuff---but a good friend of mine who knows this stuff fairly well is saying that we (here in Texas we're paying about 2.89 usd per gallon right now) will be paying around $3.50 usd per gallon by the end of the year--and that price will be stable for at least three months
It will be behind your nose man... sorry to say that
but im looking at $90+ p.b
Engine Oil prices - where are the cheapest deals?
I usually just buy engine oil from the petrol station shop. I am not sure if this gives the best value. I buy it for occasional top-up not total refill (I would get the garage to do that)Engine Oil prices - where are the cheapest deals?
Buy from WalMart or Target. These carry the cheapist. The house brand are good enough. Walmart Super Tec are API sevice SM rated which is good for all cars today.Engine Oil prices - where are the cheapest deals?
buying it from a auto parts and a shoping store would be better and do it your self should save a buck or so
Buy from WalMart or Target. These carry the cheapist. The house brand are good enough. Walmart Super Tec are API sevice SM rated which is good for all cars today.Engine Oil prices - where are the cheapest deals?
buying it from a auto parts and a shoping store would be better and do it your self should save a buck or so
Is current Oil Price a bubble? When wiil this bubble burst?
This is not a bubble, it is reality. Bubbles are typified by prices rising far beyond the real value of the product. The question is, just how much is the consumer willing to pay to drive his 5000 lb SUV 15 miles in 15 minutes while riding in air conditioned comfort? Is that result more desireable than walking or riding a bicycle that same distance (2-5 hours at $XX/hr, whatever value you put on your time)? If so, then the price of gasoline and crude oil is still cheap when compared to the benefit enjoyed by the consumer.Is current Oil Price a bubble? When wiil this bubble burst?
I'm starting to notice some speculation of that, yes. The price keeps rising, but demand isn't rising /that/ fast, and supply is pretty high.
Even if the price 'crashes,' though, it's not likely to fall much below 80 - there's a lot of wells that become unprofitable below that price, so that would represent a very elastic point in the supply curve. That is, if the price hit 75, so much supply would dry up that demand wouldn't be met, and the price would have to rise.Is current Oil Price a bubble? When wiil this bubble burst?
No they are not a bubble, they are here because they are long over due I'm afraid. And they are not going down any time soon.
it might burst when our economy tanks.
and that might not be to far off.
NO
Did the Cigarette price ever go back to a dime a pack
I'm starting to notice some speculation of that, yes. The price keeps rising, but demand isn't rising /that/ fast, and supply is pretty high.
Even if the price 'crashes,' though, it's not likely to fall much below 80 - there's a lot of wells that become unprofitable below that price, so that would represent a very elastic point in the supply curve. That is, if the price hit 75, so much supply would dry up that demand wouldn't be met, and the price would have to rise.Is current Oil Price a bubble? When wiil this bubble burst?
No they are not a bubble, they are here because they are long over due I'm afraid. And they are not going down any time soon.
it might burst when our economy tanks.
and that might not be to far off.
NO
Did the Cigarette price ever go back to a dime a pack
Implication of oil price hike to education?
Higher costs = lower profits = lower tax revenues = less ';free'; money
Higher costs = lower profits = lower business revenues = less donated money
Higher costs = lower profits = lower business revenues = less donated money
If gas prices are dictated by crude oil barrel prices, why doesn't motor oil price fluctuate as well?
The answer is in three parts.
1. What's in the lube can is more than oil.
Today's lubricants are significantly synthetic, even the ones made from 100% Pennsylvania oil. Detergents, antioxidants, viscosity modifiers and other chemicals make up 5% to 50% or more of the can and are much more expensive than any oil bases still in there.
2. Price changes less when inventory is large.
The inventory life of lubricating oils may be several months to a year, while fuels are consumed in a fraction of that time.
3. Speculation and trading by the 'haves' sets oil prices.
Fuel prices are greatly influenced by commodity trading. The 'haves' just don't deal in lubricating oil futures, so normal market forces set lubricant values. In contrast, the rich and powerful and their nervous traders can change oil prices in hours.If gas prices are dictated by crude oil barrel prices, why doesn't motor oil price fluctuate as well?
Gasoline is a much more refinery-intensive by-product of crude oil whereas motor oil requires far less refinement to be usable as a lubricant. A substantial cost factor of gasoline can be directly related to the refining capacity which, at the current time in the U.S., is virtually maxed out.
Simply put, oil is what is pulled straight from the reservoirs and requires far less processing to become motor oil; and gasoline must be produced by extensive and expensive refining processes at much larger quantities. In addition, motor oil is a recyclable commodity whereas once gasoline is burned and gone forever.
You might also consider that far less motor oil is bought and consumed than gasoline. If you were selling both of these as a commodities broker, which would you choose to maximize your profits? And if you knew there was a finite supply, wouldn't you want the maximum profits as quickly as possible? (i.e. Exxon Mobil and other Big Oil company profits have, in just in the past few fiscal quarters, have exceeded the GDP of multiple countries in the industrialized world.)
Post-Hurricane Katrina (when oil prices were around $60 or so per barrel) gas prices shot up to $3.00 per gallon. After the chaos settled down and oil barrel prices dropped back close to pre-Katrina prices, GASOLINE prices did not.
One word...Gouging.If gas prices are dictated by crude oil barrel prices, why doesn't motor oil price fluctuate as well?
Gas prices are dictated partially by OPEC, partially by Oil Companies and Oil Speculators (futures trading), and to put it in a nutshell, they're dictated by GREED!!
Because people don't use it as much as gas (supply and demand) If people stopped using gas for a week the prices would dropscars
1. What's in the lube can is more than oil.
Today's lubricants are significantly synthetic, even the ones made from 100% Pennsylvania oil. Detergents, antioxidants, viscosity modifiers and other chemicals make up 5% to 50% or more of the can and are much more expensive than any oil bases still in there.
2. Price changes less when inventory is large.
The inventory life of lubricating oils may be several months to a year, while fuels are consumed in a fraction of that time.
3. Speculation and trading by the 'haves' sets oil prices.
Fuel prices are greatly influenced by commodity trading. The 'haves' just don't deal in lubricating oil futures, so normal market forces set lubricant values. In contrast, the rich and powerful and their nervous traders can change oil prices in hours.If gas prices are dictated by crude oil barrel prices, why doesn't motor oil price fluctuate as well?
Gasoline is a much more refinery-intensive by-product of crude oil whereas motor oil requires far less refinement to be usable as a lubricant. A substantial cost factor of gasoline can be directly related to the refining capacity which, at the current time in the U.S., is virtually maxed out.
Simply put, oil is what is pulled straight from the reservoirs and requires far less processing to become motor oil; and gasoline must be produced by extensive and expensive refining processes at much larger quantities. In addition, motor oil is a recyclable commodity whereas once gasoline is burned and gone forever.
You might also consider that far less motor oil is bought and consumed than gasoline. If you were selling both of these as a commodities broker, which would you choose to maximize your profits? And if you knew there was a finite supply, wouldn't you want the maximum profits as quickly as possible? (i.e. Exxon Mobil and other Big Oil company profits have, in just in the past few fiscal quarters, have exceeded the GDP of multiple countries in the industrialized world.)
Post-Hurricane Katrina (when oil prices were around $60 or so per barrel) gas prices shot up to $3.00 per gallon. After the chaos settled down and oil barrel prices dropped back close to pre-Katrina prices, GASOLINE prices did not.
One word...Gouging.If gas prices are dictated by crude oil barrel prices, why doesn't motor oil price fluctuate as well?
Gas prices are dictated partially by OPEC, partially by Oil Companies and Oil Speculators (futures trading), and to put it in a nutshell, they're dictated by GREED!!
Because people don't use it as much as gas (supply and demand) If people stopped using gas for a week the prices would drop
What symbol can I use in yahoo finance indexes to show oil prices? I've tried wtic, $wtic and ^wtic.?
Nymex crude oil futures for yahoo use:
CLM09.NYM
that would be for June 2009
CLM09.NYM
that would be for June 2009
What factors are causing oil prices to rise so quickly? It cannot be simple supply and demand?
Firstly the dollar is still very weak, and since oil is traded in dollars the oil price is high.
A big problem at the moment is that airlines and other major fuel users are buying up the futures because they are worried that the price will go even higher.
Thirdly - demand is still outstripping supply. Ironically this is mainly due to the fact that everyone is panic buying.
All these factors are reasons for the price to rise. Until something happens which causes demand to fall (e.g. stockpiles grow) the price will keep rising.
The whole thing is a bit of a chicken and egg situation.
Prices will probably never fall back to the stable prices which were something like $30 dollars a barrel a few years back, but it is quite possible we'll see $70 to $80 again.What factors are causing oil prices to rise so quickly? It cannot be simple supply and demand?
China and India are developing apace, and their demand for oil is putting the prices up worldwide, as is the demand for Iron and Silicon, amongst other things, like grain and meat, I dont think anyone wil know where this is going, unless China suddenly finds its own oil etc, we will just have to get used to it, its not going away...What factors are causing oil prices to rise so quickly? It cannot be simple supply and demand?
I think it is now much more than just supply and demand.
It has grown into speculation, greed, corruption, and plain out of control.
Last week the government, and oil companies stated the use of oil in the United States has dropped 1 to 2 percent this year compared to last year. And with the current rises in oil going up almost each day, as opposed to once or twice a month.
We were led to beleive that if we cut back the price would stabilize, but it is not doing that.
This year may well set a record as the least travelled Memorial Day Holiday, but the prices will still go up !!!
The corporations, ceo's, and stockholders of BIG OIL have now gotten a taste of BIG MONEY, and they gotta be loving it. You really beleive they will let go of it now??
The arabs want to be paid in Gold with the weak $.The arabs
are so thick,they don't realise Gold is in $'s.You look at the price of Gold,it is also inflated highly.By the yanks saying they
are printing money with no back up.When this becomes unfounded,in time.The arabs will have sold their oil for half price,with Gold now being half.So now they are cash poor,so now what they need of the yanks will want Gold at the low price,and the goods they get are getting are twice the cost.
OPEC keep prices high by limiting the amount of oil they allow into the market. Surplus is kept in storage.
Along with that, conflict in the middle east, inflation, investment in commodities due to faltering stock markets.
Greed, speculation, weak dollar, piss poor economy, a congress that just now decided to pull their heads out of their a** to ';try'; to lower prices when something should be have done along time ago.
Sorry, the answer is, supply and demand. Well that and Saudi Arabia doesnt want to do business with the US.
greedy fat sweaty bald small minded men. who are scared they won`t make 5 BILLION pound profit ., Based on the strength that, it rained in deepest darkest diddlywink on the last day of sprig, its all silly bollocks and GREED !!!
Stock brokers trading in it and speculating on share prices..
Oil Company PROFITS...it's easy.
It's all manipulation by the banks .
its inflation..its not just oil...everythings going up in price now
and they call themselves the labour party...
the world leaders have realised that the oil is running out
Greed
A big problem at the moment is that airlines and other major fuel users are buying up the futures because they are worried that the price will go even higher.
Thirdly - demand is still outstripping supply. Ironically this is mainly due to the fact that everyone is panic buying.
All these factors are reasons for the price to rise. Until something happens which causes demand to fall (e.g. stockpiles grow) the price will keep rising.
The whole thing is a bit of a chicken and egg situation.
Prices will probably never fall back to the stable prices which were something like $30 dollars a barrel a few years back, but it is quite possible we'll see $70 to $80 again.What factors are causing oil prices to rise so quickly? It cannot be simple supply and demand?
China and India are developing apace, and their demand for oil is putting the prices up worldwide, as is the demand for Iron and Silicon, amongst other things, like grain and meat, I dont think anyone wil know where this is going, unless China suddenly finds its own oil etc, we will just have to get used to it, its not going away...What factors are causing oil prices to rise so quickly? It cannot be simple supply and demand?
I think it is now much more than just supply and demand.
It has grown into speculation, greed, corruption, and plain out of control.
Last week the government, and oil companies stated the use of oil in the United States has dropped 1 to 2 percent this year compared to last year. And with the current rises in oil going up almost each day, as opposed to once or twice a month.
We were led to beleive that if we cut back the price would stabilize, but it is not doing that.
This year may well set a record as the least travelled Memorial Day Holiday, but the prices will still go up !!!
The corporations, ceo's, and stockholders of BIG OIL have now gotten a taste of BIG MONEY, and they gotta be loving it. You really beleive they will let go of it now??
The arabs want to be paid in Gold with the weak $.The arabs
are so thick,they don't realise Gold is in $'s.You look at the price of Gold,it is also inflated highly.By the yanks saying they
are printing money with no back up.When this becomes unfounded,in time.The arabs will have sold their oil for half price,with Gold now being half.So now they are cash poor,so now what they need of the yanks will want Gold at the low price,and the goods they get are getting are twice the cost.
OPEC keep prices high by limiting the amount of oil they allow into the market. Surplus is kept in storage.
Along with that, conflict in the middle east, inflation, investment in commodities due to faltering stock markets.
Greed, speculation, weak dollar, piss poor economy, a congress that just now decided to pull their heads out of their a** to ';try'; to lower prices when something should be have done along time ago.
Sorry, the answer is, supply and demand. Well that and Saudi Arabia doesnt want to do business with the US.
greedy fat sweaty bald small minded men. who are scared they won`t make 5 BILLION pound profit ., Based on the strength that, it rained in deepest darkest diddlywink on the last day of sprig, its all silly bollocks and GREED !!!
Stock brokers trading in it and speculating on share prices..
Oil Company PROFITS...it's easy.
It's all manipulation by the banks .
its inflation..its not just oil...everythings going up in price now
and they call themselves the labour party...
the world leaders have realised that the oil is running out
Greed
Is the Price of Oil too high?
How can that be when Global Capitalism provides you with more value at lower costs.Is the Price of Oil too high?
How does an oil cartel fit a competitive capitalistic model? Do you think before you type?Is the Price of Oil too high?
Are you buying? Then it's too high.
Or, are you selling? Then it's too low.
the problem is I rather have no oil at all
so I dont' have to hear people complain
if you don't like it, dont' use it
if you can't afford it, don't use it
if you compain put a sock in it
Price of Oil? OR,
Price of Gas?
The price of oil is fair; based on the the supply and demand. In fact, since oil production has increased the supply the price per barrel is dropping.
Gas prices at $2.00 USD per gallon is actually a fair price considering that over 30 years ago price was $1.00 USD per gallon; showing SMALL inflation for the price of gas.
However, forcasting into the future ... since crude oil is a limited comodity, the increased production will lead to a low supply in the next few decades. Unless the WORLD finds alternatives ... well WAR unpresidented beyond anything we've seen.
Additionally, the spike of gasoline prices after Katrina (to $4.00 -$7.00 per gallon) were attributed to the oil processing plants in New Orleans. Since New Orleans is a major receiver of the crude oil, they process the oil into gasoline for most of the East Coast. Many states prohibit Companies to build new processing plants. This makes a ';Bottle Neck'; on getting oil turned to gas for consumers to use.
How does an oil cartel fit a competitive capitalistic model? Do you think before you type?Is the Price of Oil too high?
Are you buying? Then it's too high.
Or, are you selling? Then it's too low.
the problem is I rather have no oil at all
so I dont' have to hear people complain
if you don't like it, dont' use it
if you can't afford it, don't use it
if you compain put a sock in it
Price of Oil? OR,
Price of Gas?
The price of oil is fair; based on the the supply and demand. In fact, since oil production has increased the supply the price per barrel is dropping.
Gas prices at $2.00 USD per gallon is actually a fair price considering that over 30 years ago price was $1.00 USD per gallon; showing SMALL inflation for the price of gas.
However, forcasting into the future ... since crude oil is a limited comodity, the increased production will lead to a low supply in the next few decades. Unless the WORLD finds alternatives ... well WAR unpresidented beyond anything we've seen.
Additionally, the spike of gasoline prices after Katrina (to $4.00 -$7.00 per gallon) were attributed to the oil processing plants in New Orleans. Since New Orleans is a major receiver of the crude oil, they process the oil into gasoline for most of the East Coast. Many states prohibit Companies to build new processing plants. This makes a ';Bottle Neck'; on getting oil turned to gas for consumers to use.
Is synthetic motor oil worth the price premium?
It will last longer than normal oil, and yes it will protect better the engine of your car. It is worth depending on the use of your car.
This king of oil is designed for high performance cars, if you use your car only to drive around the city its not worth it, but if you go out a lot in a highway and like te drive fast or have your engine above 4,000 rpm for a long period of time it is worth it because you will be giving better protection and your engine will last longer.
teke into consideration that it is recomended that once that you put synthetic in yout engine you have to stay synthetic. If you car is like 6 years or older you will probably have problems with the oil sensor.Is synthetic motor oil worth the price premium?
YES, I changed over to synthetic oil in my '93 datoka, drove it 6000 miles and there was better performance. However I had to change to a synthetic-blend, because I have a front oil seal leak and it was blowing out oil,but, with the syn-blend it only drops a very few drops. However that ever you decide to use and are not satisfied with the results for the price you CAN go back to regular oil. I really like syn-blend.
This king of oil is designed for high performance cars, if you use your car only to drive around the city its not worth it, but if you go out a lot in a highway and like te drive fast or have your engine above 4,000 rpm for a long period of time it is worth it because you will be giving better protection and your engine will last longer.
teke into consideration that it is recomended that once that you put synthetic in yout engine you have to stay synthetic. If you car is like 6 years or older you will probably have problems with the oil sensor.Is synthetic motor oil worth the price premium?
YES, I changed over to synthetic oil in my '93 datoka, drove it 6000 miles and there was better performance. However I had to change to a synthetic-blend, because I have a front oil seal leak and it was blowing out oil,but, with the syn-blend it only drops a very few drops. However that ever you decide to use and are not satisfied with the results for the price you CAN go back to regular oil. I really like syn-blend.
When oil prices were rising Govt allowed taxis airlines etc to raise prices immediately?
however now when oil prices are down 60 70% Govt is just deaf and dumb not to force the price come down
Is it the free economy govt is advocating?What about postage stamps? gone up every year to 42c level can we see they are brought down to 32 c levelWhen oil prices were rising Govt allowed taxis airlines etc to raise prices immediately?
We depend too much on the Govt. and try to ignore the market forces.
Prices rose when oil prices rose, because of the market, because input costs have increased, the govt. neither permitted nor forbade the rise in prices.
Even now the govt. does not say anything, it is the moral of the taxis airlines to bring down the prices.
Is it the free economy govt is advocating?What about postage stamps? gone up every year to 42c level can we see they are brought down to 32 c levelWhen oil prices were rising Govt allowed taxis airlines etc to raise prices immediately?
We depend too much on the Govt. and try to ignore the market forces.
Prices rose when oil prices rose, because of the market, because input costs have increased, the govt. neither permitted nor forbade the rise in prices.
Even now the govt. does not say anything, it is the moral of the taxis airlines to bring down the prices.
Are you feed up with the oil prices yet?
With the prices of fuel going thru the roof isn't it time we open ANWR. the oil field there is 10 times the size of Purdue Bay and could create a price war with the OPEC nations and we could see the price of oil back in the $2.25 range within months.
Tell the activist that have been blocking the opening of this resource to eat dirt and stand back. I have been there and seen the land. in no way would any wildlife be hurt or threatened as they say.Are you feed up with the oil prices yet?
I say we just start drilling what are the tree huggers going to do use paper signs made from cut down tree's to protest or tie themselves to the oil rig.Are you feed up with the oil prices yet?
It's ';fed'; and I'm not. I'd be interested in hearing you explain the wisdom of immediately burning up the last of our domestic oil in order to keep prices lower for the next couple of years, and then finding ourselves right back in the same unpleasant situation we find ourselves in today.
The oil companies already have many wells just siting there caped not being used. Think about it from the oil companies view, if there is more oil on the market they have profit loss and that makes shareholders mad which is the morals of a company. It is time to make oil part of the commons.
Nah, travel is getting more expensive (believe me, I'm going to Japan and that's a pretty expensive flight) but that's just more market incentive to move towards an alternative fuel source, which seems to be electric or fuel cells, meaning we can transition to a less fossil fuel-dependent economy, even a new type of economy.
Since speculation was introduced in to the oil market the price for oil has gone through the roof . Changing this back would have a dramatic effect on the price, real time.
ANWR is the size of South Carolina and only 1,000 acres are believed to have oil, so only a tiny fraction would be drilled and the impact of the environment will be almost nothing.
Fed up? You can bet the farm on that - $81 to fill my work truck - and it's pretty much cut my available work area down to a very small local level - along with my job opportunities.
I say we start a protest vote and vote all members of the House and Senate out and start out with a fresh group who will make the USA more energy sufficient and lower the price of gasoline.
bush's family owns oil companies nothing can reduce the price unless his family is sent to the moon
before bush went into office gas was $1.76
Have been since it went over 2bucks!
I think everyone is......
I'm fedup so I bought a motorcycle. It get 40 to 45 MPG.
not me the price of a gallon in my country is 45 cents
I fill up my Toyota Camry for about 6 dollarsscars
Tell the activist that have been blocking the opening of this resource to eat dirt and stand back. I have been there and seen the land. in no way would any wildlife be hurt or threatened as they say.Are you feed up with the oil prices yet?
I say we just start drilling what are the tree huggers going to do use paper signs made from cut down tree's to protest or tie themselves to the oil rig.Are you feed up with the oil prices yet?
It's ';fed'; and I'm not. I'd be interested in hearing you explain the wisdom of immediately burning up the last of our domestic oil in order to keep prices lower for the next couple of years, and then finding ourselves right back in the same unpleasant situation we find ourselves in today.
The oil companies already have many wells just siting there caped not being used. Think about it from the oil companies view, if there is more oil on the market they have profit loss and that makes shareholders mad which is the morals of a company. It is time to make oil part of the commons.
Nah, travel is getting more expensive (believe me, I'm going to Japan and that's a pretty expensive flight) but that's just more market incentive to move towards an alternative fuel source, which seems to be electric or fuel cells, meaning we can transition to a less fossil fuel-dependent economy, even a new type of economy.
Since speculation was introduced in to the oil market the price for oil has gone through the roof . Changing this back would have a dramatic effect on the price, real time.
ANWR is the size of South Carolina and only 1,000 acres are believed to have oil, so only a tiny fraction would be drilled and the impact of the environment will be almost nothing.
Fed up? You can bet the farm on that - $81 to fill my work truck - and it's pretty much cut my available work area down to a very small local level - along with my job opportunities.
I say we start a protest vote and vote all members of the House and Senate out and start out with a fresh group who will make the USA more energy sufficient and lower the price of gasoline.
bush's family owns oil companies nothing can reduce the price unless his family is sent to the moon
before bush went into office gas was $1.76
Have been since it went over 2bucks!
I think everyone is......
I'm fedup so I bought a motorcycle. It get 40 to 45 MPG.
not me the price of a gallon in my country is 45 cents
I fill up my Toyota Camry for about 6 dollars
How long will it take for crude oil price to come down?
A long time indeed. Being a cynic, not until next summer (just before the election)
What do you think opening price will be for crude oil on Tues seeing that Gustav will disrupt oil refineries?
more than we want it to be!!!!!
Sorry i know it`s not a usefull answer but need the points to get to level two,so i can vote.
But either way the oil market is bad
Which presidential candidate offers the best approach to rising oil prices?
One candidate wants to tax the oil companies and bring the money into the hands of the most incompetent organization: Congress.
The othe wants to start drilling offshore and limit our dependency on foreign oil.
Which one makes more sense?Which presidential candidate offers the best approach to rising oil prices?
From what I understand Obama doesn't have an energy plan. He believes that carbon credit trading is the solution. I don't.
McCain wants to build nuclear reactors. And I remember Three Mile Island, so I'm very leery of nuclear reactors.
The fact is that neither of the candidates have a good energy plan.
The Bush tax cuts should be rescinded and targeted tax cuts should be used to reward those who install solar cells, purchase hybrid or fuel cell vehicles and walk, ride bikes or use public transportation.,
Neither of these candidates seem to be taking the situation seriously enough. We need to do something now. Not 10 or 15 years down the road.
As a democrat, Obama's energy plan really does surprise me.
It's lame. And I'm amazed that Al Gore endorsed him.Which presidential candidate offers the best approach to rising oil prices?
McCain makes more sense with offshore drilling because at this point our China and Saudi Arabia can raise the price/barrel of crude oil almost as high as they want because we are SO dependent on them. If offshore drilling is passed then it will relieve some of the pressure. Our oil situation is very vulnerable right now.... The prices will, sadly enough, never go down unless we drill for ourselves because China is booming industrially and eating up the oil that they drill which leaves less and less for us and makes it more and more valuable so the price will keep rising.
Also a little bit of info for all the tree-hugging environmentalist obama-supporters-- China has already made a deal with Cuba and is drilling oil off of Florida's coast taking our oil because yall think it will ruin our environment. Well now they take our oil, our gas prices never lower, and our environment is still as you want to call it ';ruined.' Also that scratches your idea of having a ';stock-pile'; of oil when everyone else runs out because now everyone else it drilling out OUR oil b/c of you tree-hugging retards.....God put that oil there for us to drill and use and prosper with, not for us to back down and watch other countries come and take it from out from under our noses.
Hope this helps
If we do not drill for oil, we will never be independent. Bush has been trying to get this done, since he took office. The best approach to rising oil prices , is DRILL. John McCain has the best approach.
This incompetent, irresponsible and thoroughly politicized Democratic Congress is endangering our national security and economic well-being by locking up our own energy resources. It must not be allowed to blame the companies that spend billions supplying our energy needs for its own idiotic Democrat made policies.
All the while, they have to weave their way through a labyrinth of environmental rules that Congress has imposed on them, plus defend themselves against bogus legal attacks from green extremists. Then, even when oil is found, it can take years to prepare to drill.
So when Pelosi and other congressional Democrats claim the oilmen are ';sitting'; on all that land, under which lies an ocean of crude they are gleefully keeping from consumers, those senators and representatives are lying through their well-sharpened political teeth.
In fact, these companies are spending fortunes surveying, building facilities on, and even drilling on much of this land, though it may officially be classified as nonproducing. The fact of the matter is that 94% of federal onshore lands remain unleased, while 97% of offshore areas are similarly off-limits to oil exploration.
Meanwhile the Communist regimes of China and Cuba collude to exploit the oil and gas resources off our own Gulf Coast. The blame here rests squarely on Congress, which could repeal its quarter-century-old offshore drilling moratorium tomorrow if it so chose.
That same bunch voted into Congress in 06 need to be voted out as quickly as possible, as they are now for socialized oil as they are socialized healthcare.
If you like rising oil prices, vote Obama.
Even now, he is against increasing domestic energy supplies via offshore drilling. He also unfortunately pandered to Nevada against a safe and reasonable place for used nuclear fuel. Bad policy.
China right now is drilling 50 miles off the coast of Florida. Its nuts to let China do it but to stop domestic producers from doing it. Yet Obama is a rigid left-liberal and wont be for it.
McCain is more pro-domestic energy and will support alternative energy, nuclear, domestic fossil fuels, etc. while being environmentally responsible. The right balance.
McCain. (thank God) changed his mind: Wants to open part of the 97% of offshore areas currently off limits. We could us only our oil in 7-10 years while we advance alternative fuels. The result is increase supply(lower prices) but more importantly to me, energy independence. Results in increased security.
Obama: Wants to put a tax on the oil companies. Thereby keeping us dependent on sources of energy from unstable governments in unstable regions.
Mmmm... Don't see any more oil coming from option 2
Not even close
We do need to use other sources of energy. But it will be 10-20 years before we can all afford a car that will run on something other than gas. I see no benefit to destroying our economy while we ';hope'; for that ';change';.
Here is how I look at it.
I would much rather prefer to tax the hell out of foriegn oil, because at least then we wouldn't be losing as much money as we are to them already. As much as congress does screw up with money, its always good to have more that we really arn't paying for.
I also don't want to drill our own land yet not because I think it will really effect the enviorment, but why not use everyone else's so when they run out we still have stockloads to use up.
Adding on...
We're the richest freaking country in the world. Stop making [and buying] giant Gas eating SUVs, trucks, and sports cars if you can't afford the gas for them. Cut back on your luxaries that you could easily go without. AKA stop eating out so much, go to the movies less often, dont buy an Iphone when the phone you have is perfectly fine.
John Mccain We should start drilling for our own oil. Facts: There is enough oil in the shales in Colorado, Wyoming, Utah to last us for the next 400 years. Foreign countries (Russia, China, India) are already drilling off the cost of California. California has a moratorium against the United States companies drilling off their cost. They need to learn they are a minority of the country and the majority rules.
Only moron liberals want to blame the oil companies. They take the biggest risk both in expense to find the oil and
safety. If the liberal tree-huggers in Congress would start thinking about how to fix the problem rather then who to blame they might actually get something done. As I remember all these idiots promised to fix the problem. Pelosi and here crew have done nothing in 2 years. The amazing part is they still got paid.?.?.?
I just watched CNN’s international Channel(3pm EST), breaking the news that oil price spikes again. But the anchor and the reporter assert it is China’s diesel demand contributed to the hike.
Waited a sec ! It is already THIRD time I am hearing CNN’s assertion of China’s diesel demand. The first time was about two weeks ago. What’s going on?
Then, Israel’s-Iran-attack-drill news flashing back-------Which Was Just Happened This Morning ! That “unmistakable signal” is surely an act to have a consequence of oil supply disruption ! Why is it not reported as a oil spiking cause ? !
Time to scapegoat China again before a major offensive ? To verify, I went to CNN web site , there it is :
China hikes fuel prices http://money.cnn.com/2008/06/20/news/int…
China to raise energy prices
http://money.cnn.com/2008/06/19/news/int…
But nowhere saying that Israel’s-Iran-attack-drill will unstablize the oil supply region, causing the oil price up.
For Israelis Iran Strike Drill see
http://www.jpost.com/servlet/Satellite?c…
Most people would say the second one makes the most sense. Reducing our dependence on foreign oil would be a massive improvement to our current situation.
The first choice, more taxes, is clearly a brainchild of the Democrats...since higher taxation is their answer to everything.
Barack Obama, he wants to get our country off of petroleum. McCain is pandering to Big Oil.
you republicans had your chance and blew it
now the dems control the senate and congress
mccain's approach is all talk that will have no action
Ron Paul.
McCain. Obama is just pandering to the enviros.
that's a no brainer, but the democrats haven't figured it out yet.
The othe wants to start drilling offshore and limit our dependency on foreign oil.
Which one makes more sense?Which presidential candidate offers the best approach to rising oil prices?
From what I understand Obama doesn't have an energy plan. He believes that carbon credit trading is the solution. I don't.
McCain wants to build nuclear reactors. And I remember Three Mile Island, so I'm very leery of nuclear reactors.
The fact is that neither of the candidates have a good energy plan.
The Bush tax cuts should be rescinded and targeted tax cuts should be used to reward those who install solar cells, purchase hybrid or fuel cell vehicles and walk, ride bikes or use public transportation.,
Neither of these candidates seem to be taking the situation seriously enough. We need to do something now. Not 10 or 15 years down the road.
As a democrat, Obama's energy plan really does surprise me.
It's lame. And I'm amazed that Al Gore endorsed him.Which presidential candidate offers the best approach to rising oil prices?
McCain makes more sense with offshore drilling because at this point our China and Saudi Arabia can raise the price/barrel of crude oil almost as high as they want because we are SO dependent on them. If offshore drilling is passed then it will relieve some of the pressure. Our oil situation is very vulnerable right now.... The prices will, sadly enough, never go down unless we drill for ourselves because China is booming industrially and eating up the oil that they drill which leaves less and less for us and makes it more and more valuable so the price will keep rising.
Also a little bit of info for all the tree-hugging environmentalist obama-supporters-- China has already made a deal with Cuba and is drilling oil off of Florida's coast taking our oil because yall think it will ruin our environment. Well now they take our oil, our gas prices never lower, and our environment is still as you want to call it ';ruined.' Also that scratches your idea of having a ';stock-pile'; of oil when everyone else runs out because now everyone else it drilling out OUR oil b/c of you tree-hugging retards.....God put that oil there for us to drill and use and prosper with, not for us to back down and watch other countries come and take it from out from under our noses.
Hope this helps
If we do not drill for oil, we will never be independent. Bush has been trying to get this done, since he took office. The best approach to rising oil prices , is DRILL. John McCain has the best approach.
This incompetent, irresponsible and thoroughly politicized Democratic Congress is endangering our national security and economic well-being by locking up our own energy resources. It must not be allowed to blame the companies that spend billions supplying our energy needs for its own idiotic Democrat made policies.
All the while, they have to weave their way through a labyrinth of environmental rules that Congress has imposed on them, plus defend themselves against bogus legal attacks from green extremists. Then, even when oil is found, it can take years to prepare to drill.
So when Pelosi and other congressional Democrats claim the oilmen are ';sitting'; on all that land, under which lies an ocean of crude they are gleefully keeping from consumers, those senators and representatives are lying through their well-sharpened political teeth.
In fact, these companies are spending fortunes surveying, building facilities on, and even drilling on much of this land, though it may officially be classified as nonproducing. The fact of the matter is that 94% of federal onshore lands remain unleased, while 97% of offshore areas are similarly off-limits to oil exploration.
Meanwhile the Communist regimes of China and Cuba collude to exploit the oil and gas resources off our own Gulf Coast. The blame here rests squarely on Congress, which could repeal its quarter-century-old offshore drilling moratorium tomorrow if it so chose.
That same bunch voted into Congress in 06 need to be voted out as quickly as possible, as they are now for socialized oil as they are socialized healthcare.
If you like rising oil prices, vote Obama.
Even now, he is against increasing domestic energy supplies via offshore drilling. He also unfortunately pandered to Nevada against a safe and reasonable place for used nuclear fuel. Bad policy.
China right now is drilling 50 miles off the coast of Florida. Its nuts to let China do it but to stop domestic producers from doing it. Yet Obama is a rigid left-liberal and wont be for it.
McCain is more pro-domestic energy and will support alternative energy, nuclear, domestic fossil fuels, etc. while being environmentally responsible. The right balance.
McCain. (thank God) changed his mind: Wants to open part of the 97% of offshore areas currently off limits. We could us only our oil in 7-10 years while we advance alternative fuels. The result is increase supply(lower prices) but more importantly to me, energy independence. Results in increased security.
Obama: Wants to put a tax on the oil companies. Thereby keeping us dependent on sources of energy from unstable governments in unstable regions.
Mmmm... Don't see any more oil coming from option 2
Not even close
We do need to use other sources of energy. But it will be 10-20 years before we can all afford a car that will run on something other than gas. I see no benefit to destroying our economy while we ';hope'; for that ';change';.
Here is how I look at it.
I would much rather prefer to tax the hell out of foriegn oil, because at least then we wouldn't be losing as much money as we are to them already. As much as congress does screw up with money, its always good to have more that we really arn't paying for.
I also don't want to drill our own land yet not because I think it will really effect the enviorment, but why not use everyone else's so when they run out we still have stockloads to use up.
Adding on...
We're the richest freaking country in the world. Stop making [and buying] giant Gas eating SUVs, trucks, and sports cars if you can't afford the gas for them. Cut back on your luxaries that you could easily go without. AKA stop eating out so much, go to the movies less often, dont buy an Iphone when the phone you have is perfectly fine.
John Mccain We should start drilling for our own oil. Facts: There is enough oil in the shales in Colorado, Wyoming, Utah to last us for the next 400 years. Foreign countries (Russia, China, India) are already drilling off the cost of California. California has a moratorium against the United States companies drilling off their cost. They need to learn they are a minority of the country and the majority rules.
Only moron liberals want to blame the oil companies. They take the biggest risk both in expense to find the oil and
safety. If the liberal tree-huggers in Congress would start thinking about how to fix the problem rather then who to blame they might actually get something done. As I remember all these idiots promised to fix the problem. Pelosi and here crew have done nothing in 2 years. The amazing part is they still got paid.?.?.?
I just watched CNN’s international Channel(3pm EST), breaking the news that oil price spikes again. But the anchor and the reporter assert it is China’s diesel demand contributed to the hike.
Waited a sec ! It is already THIRD time I am hearing CNN’s assertion of China’s diesel demand. The first time was about two weeks ago. What’s going on?
Then, Israel’s-Iran-attack-drill news flashing back-------Which Was Just Happened This Morning ! That “unmistakable signal” is surely an act to have a consequence of oil supply disruption ! Why is it not reported as a oil spiking cause ? !
Time to scapegoat China again before a major offensive ? To verify, I went to CNN web site , there it is :
China hikes fuel prices http://money.cnn.com/2008/06/20/news/int…
China to raise energy prices
http://money.cnn.com/2008/06/19/news/int…
But nowhere saying that Israel’s-Iran-attack-drill will unstablize the oil supply region, causing the oil price up.
For Israelis Iran Strike Drill see
http://www.jpost.com/servlet/Satellite?c…
Most people would say the second one makes the most sense. Reducing our dependence on foreign oil would be a massive improvement to our current situation.
The first choice, more taxes, is clearly a brainchild of the Democrats...since higher taxation is their answer to everything.
Barack Obama, he wants to get our country off of petroleum. McCain is pandering to Big Oil.
you republicans had your chance and blew it
now the dems control the senate and congress
mccain's approach is all talk that will have no action
Ron Paul.
McCain. Obama is just pandering to the enviros.
that's a no brainer, but the democrats haven't figured it out yet.
McCain credits Bush for recent $10-a-barrel drop in oil price?
Does Bush get credit for $140 a barrel or is it a one way street?McCain credits Bush for recent $10-a-barrel drop in oil price?
He gets the blame when it rises...so why shouldn't he get the blame when it goes back down.McCain credits Bush for recent $10-a-barrel drop in oil price?
McCrazy is an idiot! The Energy Department released a report today stating the price of oil has dropped because the demand is not as strong as thought.
The supplies of oil and gas in the U.S. are greater than analysts predicted and the stronger dollar have all curbed speculation prices for a barrel of oil.
Speculators know the Democratic Congress will not support a lame-duck Presidents push to lift the off-shore drilling ban. Even before Dumbya made his statement, oil prices had begun to drop, as more people are conserving fuel.
McCrazy McKook is an embarassment!
He scared some speculators (probably on purpose - so he could pretend in the face of the reality that his administration has been a complete and utter failure as if they managed to do some good).
Oh - and don't worry - it'll be $200 a barrel before he is out of office.
Regardless of who gets elected it ain't going back down either- it might get higher than that.
Even if we started drilling the living crap out of alaska, california, and everywhere else we've got oil starting today.
Oil companies know when they've got someone by the nuts, and they can squeeze those suckers tighter and tighter.
Oil prices dropped because Bush reversed his position and sent an envoy to meet with Iranians to discuss sanctions.
This is not a mere flip-flop. His reversal signals that the American government (Bush, Cheney etal) have figured out that we are not really ready for a war with Iran.
A policy reversal of this magnitude (meeting without preconditions after asserting loud and long that it would be a form of appeasement)(and chastising Obama for even suggesting it) and doing it during an election year when the Republican candidate is struggling, shows that it is a matter of the greatest importance to settle with Iran peacefully.
It is simply a matter of the speculators seeing the veil of impending war, and the closing of the straights of Hormuz, suddenly lifting.
No war, no cutting off of Mid-East oil suppy. Simple as that.
I thought McCain was supposed to be a big-shot international policy and national security expert.
Seems to me that if he can't recognize something as simple and obvious as improving relations bringing oil prices down, he is not much of a strategist after all.
Bush gets the credit...but not for the reason that McCain claims.
you should know from reading yahoo answers that bush is responsible for everything bad in the world and is against everything good. all of the liberal hippies would have jobs if bush didn't persoanlly fire them all from their joint-rolling jobs. bush started the fires in california with his fire-breath and his forked tail smashed into china and made the earthquakes. of course he's driving up the price of oil! he drinks 30 barrels a day!
it was $15+
and you (democrats, not the asker) already blamed Bush for $140 a barrell, and you blamed him for 9/11, and the bombs on the levy, and global warming... give him one thing...geesh
Even the White House admits Bush shouldn't get the credit; it's probably due to lower demand.
I do blame Bush, partially, for the higher price. If he hadn't lied and started a war, it might not have gotten into this mess to begin with.
I saw that on the news. It was a good laugh.
Hello,,that lying prick, he's made millions on the sell out of american people, him and that cheney turd will be in hades someday, then no body will protect them, ain't any problem getting even after death is there?
he announced off shore drilling which will lower speculation.
translation for libs: bush tells world he is getting more oil = less money.
McCain the flip flopper. When was the last time he had actually buy a tank of gas?
He gets the blame when it rises...so why shouldn't he get the blame when it goes back down.McCain credits Bush for recent $10-a-barrel drop in oil price?
McCrazy is an idiot! The Energy Department released a report today stating the price of oil has dropped because the demand is not as strong as thought.
The supplies of oil and gas in the U.S. are greater than analysts predicted and the stronger dollar have all curbed speculation prices for a barrel of oil.
Speculators know the Democratic Congress will not support a lame-duck Presidents push to lift the off-shore drilling ban. Even before Dumbya made his statement, oil prices had begun to drop, as more people are conserving fuel.
McCrazy McKook is an embarassment!
He scared some speculators (probably on purpose - so he could pretend in the face of the reality that his administration has been a complete and utter failure as if they managed to do some good).
Oh - and don't worry - it'll be $200 a barrel before he is out of office.
Regardless of who gets elected it ain't going back down either- it might get higher than that.
Even if we started drilling the living crap out of alaska, california, and everywhere else we've got oil starting today.
Oil companies know when they've got someone by the nuts, and they can squeeze those suckers tighter and tighter.
Oil prices dropped because Bush reversed his position and sent an envoy to meet with Iranians to discuss sanctions.
This is not a mere flip-flop. His reversal signals that the American government (Bush, Cheney etal) have figured out that we are not really ready for a war with Iran.
A policy reversal of this magnitude (meeting without preconditions after asserting loud and long that it would be a form of appeasement)(and chastising Obama for even suggesting it) and doing it during an election year when the Republican candidate is struggling, shows that it is a matter of the greatest importance to settle with Iran peacefully.
It is simply a matter of the speculators seeing the veil of impending war, and the closing of the straights of Hormuz, suddenly lifting.
No war, no cutting off of Mid-East oil suppy. Simple as that.
I thought McCain was supposed to be a big-shot international policy and national security expert.
Seems to me that if he can't recognize something as simple and obvious as improving relations bringing oil prices down, he is not much of a strategist after all.
Bush gets the credit...but not for the reason that McCain claims.
you should know from reading yahoo answers that bush is responsible for everything bad in the world and is against everything good. all of the liberal hippies would have jobs if bush didn't persoanlly fire them all from their joint-rolling jobs. bush started the fires in california with his fire-breath and his forked tail smashed into china and made the earthquakes. of course he's driving up the price of oil! he drinks 30 barrels a day!
it was $15+
and you (democrats, not the asker) already blamed Bush for $140 a barrell, and you blamed him for 9/11, and the bombs on the levy, and global warming... give him one thing...geesh
Even the White House admits Bush shouldn't get the credit; it's probably due to lower demand.
I do blame Bush, partially, for the higher price. If he hadn't lied and started a war, it might not have gotten into this mess to begin with.
I saw that on the news. It was a good laugh.
Hello,,that lying prick, he's made millions on the sell out of american people, him and that cheney turd will be in hades someday, then no body will protect them, ain't any problem getting even after death is there?
he announced off shore drilling which will lower speculation.
translation for libs: bush tells world he is getting more oil = less money.
McCain the flip flopper. When was the last time he had actually buy a tank of gas?
How are oil prices in the Middle East?
And what do the Middle Eastern governments do with their oil revenue?How are oil prices in the Middle East?
I heard the other day that gas in Saudi Arabia was (US $ equivilent) to $0.54 per gallon. Venezaula, which is the major oil producing nation in South America is paying $0.17 per gallon.
In the arab world, most oil revenues go straight to the top. The Saudi Royal Family has over half of the nations wealth. They live lavish lifestyles beond most peoples dreams, while most of the citizens are extremly poor.How are oil prices in the Middle East?
ok if you are asking in jordan...
i full my car which is ';nissan Micra'; with 25JD...that makes it in dollars it means 17.5 $
but if we go to saudia arabia then to full my car then i can exactly full it with 2$... do you know that gas in saudia is cheaper than water
can you imagine that....
may god help usssssss here....
Its $1.70 / Gallon of Oil. or 4.55 Litres for $1.70. what the ME govts do with the revenue... they invest in modernizing their countries and invest in EU and USA. Approx. 16.5 % of USA's GDP is Saudi Money
Soon to be irrelevant once
the American's
resume harvesting their own oil
and
building hundreds of new nuclear power plants for their new fleet of hydrogen cars.
(they already build most of the world's nuclear power plants)
Well, all I know is there is a lot of oil in the middle east, and much in Saudia Arabia, and the U.S. is trying to get it's hands on it.
i believe there is a graph with gas prices on wikipedia...i think i remember seeing middle east gas prices are extremely low
Even more expensive than the U.S.
well.. at least in Jordan it is.
why do you care?scars
I heard the other day that gas in Saudi Arabia was (US $ equivilent) to $0.54 per gallon. Venezaula, which is the major oil producing nation in South America is paying $0.17 per gallon.
In the arab world, most oil revenues go straight to the top. The Saudi Royal Family has over half of the nations wealth. They live lavish lifestyles beond most peoples dreams, while most of the citizens are extremly poor.How are oil prices in the Middle East?
ok if you are asking in jordan...
i full my car which is ';nissan Micra'; with 25JD...that makes it in dollars it means 17.5 $
but if we go to saudia arabia then to full my car then i can exactly full it with 2$... do you know that gas in saudia is cheaper than water
can you imagine that....
may god help usssssss here....
Its $1.70 / Gallon of Oil. or 4.55 Litres for $1.70. what the ME govts do with the revenue... they invest in modernizing their countries and invest in EU and USA. Approx. 16.5 % of USA's GDP is Saudi Money
Soon to be irrelevant once
the American's
resume harvesting their own oil
and
building hundreds of new nuclear power plants for their new fleet of hydrogen cars.
(they already build most of the world's nuclear power plants)
Well, all I know is there is a lot of oil in the middle east, and much in Saudia Arabia, and the U.S. is trying to get it's hands on it.
i believe there is a graph with gas prices on wikipedia...i think i remember seeing middle east gas prices are extremely low
Even more expensive than the U.S.
well.. at least in Jordan it is.
why do you care?
Price for oil and transmission fluid change?
does anyone know about how much it would cost to get my oil and filter and transmission fluid and filter changed at an oil change place? its a 2000 chevy impala 3.8 v6. front wheel drivePrice for oil and transmission fluid change?
What ever you do request a transmission fluid and filter change, not a flush. Cars with over 50,000 miles on the odometer should never go for a flush and no filter change. A crankcase oil and filter change AND a transmission filter and filter change shouldn't cost over $165.00 at any new car dealer.
The person who said a transmission flush (no filter) would cost $85.00 apparently hasn't had one lately.Price for oil and transmission fluid change?
Look to see if you have a FireStone in your area. Even a walmart w/ service center. Or just get a friend to do the oil change it is soooo easy, look it up at autozone.com. I've never gone to the shop for that but if it is less than $30, I'd say go for it, because the oil and filter alone will cost you abt $20, so it'll be worth it.
An oil change on that car is simple. Cost should be $20-25.
A trans flush, where they pump out the old fluid and pump in fresh stuff, runs around $60-80 depending on the shop doing the work.
What ever you do request a transmission fluid and filter change, not a flush. Cars with over 50,000 miles on the odometer should never go for a flush and no filter change. A crankcase oil and filter change AND a transmission filter and filter change shouldn't cost over $165.00 at any new car dealer.
The person who said a transmission flush (no filter) would cost $85.00 apparently hasn't had one lately.Price for oil and transmission fluid change?
Look to see if you have a FireStone in your area. Even a walmart w/ service center. Or just get a friend to do the oil change it is soooo easy, look it up at autozone.com. I've never gone to the shop for that but if it is less than $30, I'd say go for it, because the oil and filter alone will cost you abt $20, so it'll be worth it.
An oil change on that car is simple. Cost should be $20-25.
A trans flush, where they pump out the old fluid and pump in fresh stuff, runs around $60-80 depending on the shop doing the work.
Why according to OPEC have oil prices risen drastically recently?
dem speculatorsWhy according to OPEC have oil prices risen drastically recently?
Supply and demand.
Oil supply grows slowly, at about 1% a year for the last few years. Also, new oil finds, like Canadian oil sands, are much more expensive to extract, and higher prices are needed to cover these higher costs.
Oil demand has historically been linked to Global GDP growth, which has been between 3 and 4% each year. This relationship has begun to fall apart in the last few years, but it still shows how strong the increase in demand could be.
So, essentially, oil prices move with supply and demand, like all other markets.Why according to OPEC have oil prices risen drastically recently?
they only went up 2 cents
Supply and demand.
Oil supply grows slowly, at about 1% a year for the last few years. Also, new oil finds, like Canadian oil sands, are much more expensive to extract, and higher prices are needed to cover these higher costs.
Oil demand has historically been linked to Global GDP growth, which has been between 3 and 4% each year. This relationship has begun to fall apart in the last few years, but it still shows how strong the increase in demand could be.
So, essentially, oil prices move with supply and demand, like all other markets.Why according to OPEC have oil prices risen drastically recently?
they only went up 2 cents
If the price of oil has dropped by 50%, why has the price of gasoline only dropped 25%?
Gas Prices are falling. You need to realize that prices fall because of competition, not because oil drops. Yet when oil rises, gas prices rise..
The reason is that when oil goes up, the cost of producing oil rises. As such, they have to raise the price to remain profitable. When Oil falls, their margin of profit declines. If it was left up to a specific company, they would keep gas prices high. But because the company down the street lowers their prices a nickel and gets all the business, the Exxon on your street has to follow in kind, else it risks not selling any gasoline and going out of business.
Prices fall because of competition. Here is the 3 month price average across America
http://66.70.86.64/ChartServer/ch.gascha鈥?/a>If the price of oil has dropped by 50%, why has the price of gasoline only dropped 25%?
There are several factors that affect the price of gasoline besides the price of crude. For one thing, much of the price we pay at the pump is made up of taxes, also, 10% of the ';gasoline';at the pump is made from corn, not crude. The refining costs don't change nor does the storage, handling, insurance, maintenance of pipelines, etc. and the expense of the transportation of the fuel drops, but not that much.
If the price of oil has dropped by 50%, why has the price of gasoline only dropped 25%?
because it takes time for the oil companies to recover their losses due the previously unstable oil market...plus the fact that it's still unstable now. also because oil companies price their products based on the price of cruide oil of the PREVIOUS month. oil prices are low only TEMPORARILY because of the US financial market crash, which is rebounding quite quickly. You can be sure that oil prices will rise again just as fast as it dropped.
The price of gas didn't rise proportionately with the price of oil so you shouldn't expect it to drop proportionately.
lots of reasons, people reselling oil have to make a profit, refining etc costs money, shipping, all those reasons.
Because the right only get richer. Why should the poor people get an easy life when the rich people can keep ';living it up.';
The price of a barrel of oil today dictates the price of gas a month from now.
because the the owners need to make money
and because they get to choose how much they want to sell it for
one word - GREED
The reason is that when oil goes up, the cost of producing oil rises. As such, they have to raise the price to remain profitable. When Oil falls, their margin of profit declines. If it was left up to a specific company, they would keep gas prices high. But because the company down the street lowers their prices a nickel and gets all the business, the Exxon on your street has to follow in kind, else it risks not selling any gasoline and going out of business.
Prices fall because of competition. Here is the 3 month price average across America
http://66.70.86.64/ChartServer/ch.gascha鈥?/a>If the price of oil has dropped by 50%, why has the price of gasoline only dropped 25%?
There are several factors that affect the price of gasoline besides the price of crude. For one thing, much of the price we pay at the pump is made up of taxes, also, 10% of the ';gasoline';at the pump is made from corn, not crude. The refining costs don't change nor does the storage, handling, insurance, maintenance of pipelines, etc. and the expense of the transportation of the fuel drops, but not that much.
If the price of oil has dropped by 50%, why has the price of gasoline only dropped 25%?
because it takes time for the oil companies to recover their losses due the previously unstable oil market...plus the fact that it's still unstable now. also because oil companies price their products based on the price of cruide oil of the PREVIOUS month. oil prices are low only TEMPORARILY because of the US financial market crash, which is rebounding quite quickly. You can be sure that oil prices will rise again just as fast as it dropped.
The price of gas didn't rise proportionately with the price of oil so you shouldn't expect it to drop proportionately.
lots of reasons, people reselling oil have to make a profit, refining etc costs money, shipping, all those reasons.
Because the right only get richer. Why should the poor people get an easy life when the rich people can keep ';living it up.';
The price of a barrel of oil today dictates the price of gas a month from now.
because the the owners need to make money
and because they get to choose how much they want to sell it for
one word - GREED
Why has the price of gas / oil halved from peak prices?
I can't believe it's just demand. Which begs the question - why do we continue to allow price fixing?Why has the price of gas / oil halved from peak prices?
Two reasons that I know of.
1. Bush put an Executive Moratorium on the Environmental restrictions of our refineries. Before, most of the gasoline we produced was deemed too dirty to burn in the US by the Clinton Adm. (Al Gore)
2. He lifted the Executive Moratorium on offshore drilling.
Gas is cheap because we're swimming in crude right now and not buying as much from the Saudi's. Don't get used to it though. Obama has already publicly stated his intentions of reversing both these Executive Orders. Why has the price of gas / oil halved from peak prices?
there is no price fixing, its supply and demand along with futures expectations, the price of gas is crud +refining+transportation+retail+tax basically, exxon makes the same 6-7 cents per gallon it does today that it made last year and the 5 years before that and 10 years before that etc... same for everyone else with there 2-3 cents per gallon. the rest is the price of crude and 40+cents in government taxes per gallon and state/local taxes which goes from 15-30 cents per state
now your wondering why gas oil has dropped in price is because of future expectations with new drilling prospects and the fact that obama won the election and the stock markets been tanking ever since, its not just oil that dropped its everything else on the dow jones.
yeah so when gas at the pump goes down more this week, you can accuse the gas station people for fixing the stock market
Change since prev day close: 679.95 (7.70%)
Current value: 8,149.09
Previous day's close: 8,829.04
Competition between gas stations in different part of the country. I'm in State College right now, a small Pennsylvania city with a gas price of $1.95. If you go up the road to Lamar, a small town off of Interstate 80, then you get the price of $1.79.
There is also the factor of the price of oil per barrel. It was $135 during the peak prices, but dropped to $70 when the prices stated halving. Price gouging itself is also possible, but that has to come with some sort of National Disaster. I remember the gas station in the Midwest that went to $5.99 a gallon the day after Katrina, when it only went to about 3.19 here.
We threatened to start drilling in the USA again, and this has scared the hell out of OPEC. It'll be like this until our new administration takes over then we'll be at $5.00++ by this time next year. The new administration has already promised to stop any off shore drilling and coal mining in the US and now the the prices have come down, the eco-nazi's are starting their protests as well, and they have the ear for most of the new cabinet.
I think the downturn of the economy has reduced demand.
But, I also think there was a lot of investor/speculation manipulation of prices. I don't think we are sufficiently into hybrid vehicles for that to make a great difference.
%26lt;Sarcasm%26gt; Republican economic policies have ushered in massive lay-offs causing the demand for fuel to go down along with the price. As things get worse the price will continue to go down.
I swear, you democraps don't appreciate anything we republicans do for you.
The speculators SOLD their futures stock and the market collapsed.
Republicans--- Democrats-- Independents-- Obama -- or Bush CANNOT influence the global oil market. US oil companies only control about 3% of the worldwide production of oil.
We import over 70% of our requirements from foreign countries.
It's called a bubble and oil was in one. Don't forget real estate was also in a bubble and it burst. Was Bush responsible for that too?
Econ 101 does wonders for society.
you mean one - third , people really cut back on driving , gas usage has dropped by 10% that is enough to crash commodities , same thing has happened to copper , zinc , lead , and the shipping rates .
Because Congress passed a bill agreeing to drill for oil in the United States. The price went down. Don't thank Democrats for that. Thank Republicans , mainly Newt Gingrich.
Economics 101- supply and demand. Last summer when gas prices were sky high people cut way back on their driving habits while refineries were still running full. Now there is a surplus. Hence- lower prices.
price fixing only hurts the economy because you can't control the free market. People will do as they please. If you don't believe this go and visit your local jail house.
It's SUPPLY and demand. Some countries have been pumping and shipping more than expected. And consumers just aren't buying as much gasoline.
Everybody stopped buying gas, and there's a glut, because nobody can afford to travel.
It's called price elasticity, the demand remains unaltered (for gas)
The election is long over. Expect rising prices again -- yes, double.
Because you continue to pay.
Simple as that.
LESS DEMANDS DUE TO BAD ECONOMY
that was a bush idea to get his buddies some more ill begotten cash before he's kicked out.
Two reasons that I know of.
1. Bush put an Executive Moratorium on the Environmental restrictions of our refineries. Before, most of the gasoline we produced was deemed too dirty to burn in the US by the Clinton Adm. (Al Gore)
2. He lifted the Executive Moratorium on offshore drilling.
Gas is cheap because we're swimming in crude right now and not buying as much from the Saudi's. Don't get used to it though. Obama has already publicly stated his intentions of reversing both these Executive Orders. Why has the price of gas / oil halved from peak prices?
there is no price fixing, its supply and demand along with futures expectations, the price of gas is crud +refining+transportation+retail+tax basically, exxon makes the same 6-7 cents per gallon it does today that it made last year and the 5 years before that and 10 years before that etc... same for everyone else with there 2-3 cents per gallon. the rest is the price of crude and 40+cents in government taxes per gallon and state/local taxes which goes from 15-30 cents per state
now your wondering why gas oil has dropped in price is because of future expectations with new drilling prospects and the fact that obama won the election and the stock markets been tanking ever since, its not just oil that dropped its everything else on the dow jones.
yeah so when gas at the pump goes down more this week, you can accuse the gas station people for fixing the stock market
Change since prev day close: 679.95 (7.70%)
Current value: 8,149.09
Previous day's close: 8,829.04
Competition between gas stations in different part of the country. I'm in State College right now, a small Pennsylvania city with a gas price of $1.95. If you go up the road to Lamar, a small town off of Interstate 80, then you get the price of $1.79.
There is also the factor of the price of oil per barrel. It was $135 during the peak prices, but dropped to $70 when the prices stated halving. Price gouging itself is also possible, but that has to come with some sort of National Disaster. I remember the gas station in the Midwest that went to $5.99 a gallon the day after Katrina, when it only went to about 3.19 here.
We threatened to start drilling in the USA again, and this has scared the hell out of OPEC. It'll be like this until our new administration takes over then we'll be at $5.00++ by this time next year. The new administration has already promised to stop any off shore drilling and coal mining in the US and now the the prices have come down, the eco-nazi's are starting their protests as well, and they have the ear for most of the new cabinet.
I think the downturn of the economy has reduced demand.
But, I also think there was a lot of investor/speculation manipulation of prices. I don't think we are sufficiently into hybrid vehicles for that to make a great difference.
%26lt;Sarcasm%26gt; Republican economic policies have ushered in massive lay-offs causing the demand for fuel to go down along with the price. As things get worse the price will continue to go down.
I swear, you democraps don't appreciate anything we republicans do for you.
The speculators SOLD their futures stock and the market collapsed.
Republicans--- Democrats-- Independents-- Obama -- or Bush CANNOT influence the global oil market. US oil companies only control about 3% of the worldwide production of oil.
We import over 70% of our requirements from foreign countries.
It's called a bubble and oil was in one. Don't forget real estate was also in a bubble and it burst. Was Bush responsible for that too?
Econ 101 does wonders for society.
you mean one - third , people really cut back on driving , gas usage has dropped by 10% that is enough to crash commodities , same thing has happened to copper , zinc , lead , and the shipping rates .
Because Congress passed a bill agreeing to drill for oil in the United States. The price went down. Don't thank Democrats for that. Thank Republicans , mainly Newt Gingrich.
Economics 101- supply and demand. Last summer when gas prices were sky high people cut way back on their driving habits while refineries were still running full. Now there is a surplus. Hence- lower prices.
price fixing only hurts the economy because you can't control the free market. People will do as they please. If you don't believe this go and visit your local jail house.
It's SUPPLY and demand. Some countries have been pumping and shipping more than expected. And consumers just aren't buying as much gasoline.
Everybody stopped buying gas, and there's a glut, because nobody can afford to travel.
It's called price elasticity, the demand remains unaltered (for gas)
The election is long over. Expect rising prices again -- yes, double.
Because you continue to pay.
Simple as that.
LESS DEMANDS DUE TO BAD ECONOMY
that was a bush idea to get his buddies some more ill begotten cash before he's kicked out.
What Candidate best for reducing oil prices and increasing production?
Since none of them have said a tangible word about this problem, it's really hard to say. If anyone finds out let me know.What Candidate best for reducing oil prices and increasing production?
Oil prices aren't going down. There's nothing any of the candidates can do to stop it, short of providing government subsidies.
The best thing any candidate can do for energy costs is to bring alternative sources of energy online in a major way. The candidate most interested in alternative energy is John Edwards.What Candidate best for reducing oil prices and increasing production?
Ron Paul!
Sorry OBG--I don't know how u can criticize Democrats for a gas tax increase-first of all, I don't think that's accurate, unless Jimmy Carter is running again.
Bush has increase gas prices more than we could ever have imagined.
John Edwards! This is his platform, but, only in part. Check him out, you just might like what you find out! He is much more than a big house %26amp; $400 haircuts!
Whichever one wants to drill in Alaska. That's what it'll take to reduce oil prices.
The only say they have in increasing production is by allowing the building of refinerys and drilling in the U S. That will drop gas prices real low. if not keep bowing to the will of opec. The U S goverment does not and cannot set the price of oil.
Anyone of the Republicans will do that! Now we all know all the Dem's will not drill for anymore oil or do anything to help.Dem's will unfortunately raise taxes on gas and try to take away any profits oil companies make.......yeah that ought to help.LOL
Congressional democrats are already working on a plan to increase gas taxes by $0.60 a gallon.
none of them. Wanna know why boys and girls? Because that would be socialism. I hate the oil companies just as much as you, but absolutely no more government control bullshit. STOP.
http://www.youtube.com/watch?v=gIouq2u9k鈥?/a>
Ron Paul 2008.
No one will or can. Especially short turn. Lowering them will take a long time. Instead, they will/are advertising hybrids, more miles per gallon, and people being more conservative as they try to invest in energy.
Oil prices aren't going down. There's nothing any of the candidates can do to stop it, short of providing government subsidies.
The best thing any candidate can do for energy costs is to bring alternative sources of energy online in a major way. The candidate most interested in alternative energy is John Edwards.What Candidate best for reducing oil prices and increasing production?
Ron Paul!
Sorry OBG--I don't know how u can criticize Democrats for a gas tax increase-first of all, I don't think that's accurate, unless Jimmy Carter is running again.
Bush has increase gas prices more than we could ever have imagined.
John Edwards! This is his platform, but, only in part. Check him out, you just might like what you find out! He is much more than a big house %26amp; $400 haircuts!
Whichever one wants to drill in Alaska. That's what it'll take to reduce oil prices.
The only say they have in increasing production is by allowing the building of refinerys and drilling in the U S. That will drop gas prices real low. if not keep bowing to the will of opec. The U S goverment does not and cannot set the price of oil.
Anyone of the Republicans will do that! Now we all know all the Dem's will not drill for anymore oil or do anything to help.Dem's will unfortunately raise taxes on gas and try to take away any profits oil companies make.......yeah that ought to help.LOL
Congressional democrats are already working on a plan to increase gas taxes by $0.60 a gallon.
none of them. Wanna know why boys and girls? Because that would be socialism. I hate the oil companies just as much as you, but absolutely no more government control bullshit. STOP.
http://www.youtube.com/watch?v=gIouq2u9k鈥?/a>
Ron Paul 2008.
No one will or can. Especially short turn. Lowering them will take a long time. Instead, they will/are advertising hybrids, more miles per gallon, and people being more conservative as they try to invest in energy.
With a nation that depends mainly on foreign oil, HOW DOES A HURRICANE EFFECT OUR GAS PRICE?
Why does no one ask these questions?With a nation that depends mainly on foreign oil, HOW DOES A HURRICANE EFFECT OUR GAS PRICE?
PresentWith a nation that depends mainly on foreign oil, HOW DOES A HURRICANE EFFECT OUR GAS PRICE?
Guess where most of our refineries and a massive chunk of our oil drilling is? Right smack in the way of this hurricane..
You just answered. The key is ';mainly'; not ';entirely';
In case you haven't noticed, everything affects the price of gas. This includes, but is not limited to: foreign wars, the dwindling supply of oil, the state of the union, the fact that someone sneezed at a big oil company, the air temperature, the time of year, the angle of the sun in the sky, the flavor of cream cheese...You get the picture, don't you?
to the ';it's heading towards our refineries'; argument... the gas at the pumps has already been refined... granted... IF it effected output.. then the next time the tanker comes to fill the station the price should be up.. but the cost of production has already been set for the gas you are pumping right now. You could argue that more people go to try and fill up.. creating a bubble in short term supply and demand... but it doesn't account for the stark raises we are seeing... AND many times they start pumping up the prices .. which CAUSES people to rush to fill up.. before they top out.
It's price gouging.. pure and simple. They are actually about to pas a law this spring in my state to prevent this from happening again. We jumped up $0.80 today.
The Gulf is the only region we allow drilling in, which makes an even better case for opening up the coasts. With the Panama Canal so relatively close to Louisiana and Texas, the majority of our foreign oil makes its way through those ports. Obviously, with a storm of this magnitude, shipments will have to wait.
Now, if we had more oil coming from the north, as well as both coasts, it would leave us with four distinctively different geographic locations afflicted by completely different variables (climate, seismic activity, etc.) and at different times.
Why aren't we drilling again?
Why does no one ask this question?
Because the storm is heading for an area that has 25% of our refineries.
Edit: Yes, the gas at the pumps has already been refined. But most of what we import is crude oil, which then has to be refined so it can be used.scars
PresentWith a nation that depends mainly on foreign oil, HOW DOES A HURRICANE EFFECT OUR GAS PRICE?
Guess where most of our refineries and a massive chunk of our oil drilling is? Right smack in the way of this hurricane..
You just answered. The key is ';mainly'; not ';entirely';
In case you haven't noticed, everything affects the price of gas. This includes, but is not limited to: foreign wars, the dwindling supply of oil, the state of the union, the fact that someone sneezed at a big oil company, the air temperature, the time of year, the angle of the sun in the sky, the flavor of cream cheese...You get the picture, don't you?
to the ';it's heading towards our refineries'; argument... the gas at the pumps has already been refined... granted... IF it effected output.. then the next time the tanker comes to fill the station the price should be up.. but the cost of production has already been set for the gas you are pumping right now. You could argue that more people go to try and fill up.. creating a bubble in short term supply and demand... but it doesn't account for the stark raises we are seeing... AND many times they start pumping up the prices .. which CAUSES people to rush to fill up.. before they top out.
It's price gouging.. pure and simple. They are actually about to pas a law this spring in my state to prevent this from happening again. We jumped up $0.80 today.
The Gulf is the only region we allow drilling in, which makes an even better case for opening up the coasts. With the Panama Canal so relatively close to Louisiana and Texas, the majority of our foreign oil makes its way through those ports. Obviously, with a storm of this magnitude, shipments will have to wait.
Now, if we had more oil coming from the north, as well as both coasts, it would leave us with four distinctively different geographic locations afflicted by completely different variables (climate, seismic activity, etc.) and at different times.
Why aren't we drilling again?
Why does no one ask this question?
Because the storm is heading for an area that has 25% of our refineries.
Edit: Yes, the gas at the pumps has already been refined. But most of what we import is crude oil, which then has to be refined so it can be used.
If the price of oil were to fall back to a reasonable price what effect would it have on the US economy?
A better solution would be to conserve the oil that we have, develop alternative solutions FAST, and tell the Middle East to FOAD.If the price of oil were to fall back to a reasonable price what effect would it have on the US economy?
It won't matter because the oil companies will still be jacking us at the pump. They pushed up prices to obscene levels so that we'll be happy when they drop down to less obscene levels rather than where they should be.
Record profits, my friends. That's what it's all about.If the price of oil were to fall back to a reasonable price what effect would it have on the US economy?
I would hope so
It would not change inflation because gas and food are not figured in on inflation.
it would be slow, but prices on virtually all food, energy and manufactured goods would go down, and people would start buying more, pumping more money into the system. it would also in the longer term raise wages and stall inflation.
its not a permanent or realistic solution though.
It would free up pesonal spending and start the economy rolling again and we would enjoy what we have been enjoying for the last 7 years!
It might give it a little boost. Oil companies would lose out a bit, but they're already making obscene amounts of money as it is, I think they can afford to give the average joe a break.
If we lowered the price, then we would run out faster and not be able to afford to get more. The prices are fixed by supply and demand. The rest of the world, especially China and India, have increased their demand for oil. That means the price has to go up. Oil companies now pay more to bring in oil and clean it for our use. These companies could not afford to bring in more if they charged less cause we would demand more but there wouldn't be enough money to bring it in and clean it.
It won't matter because the oil companies will still be jacking us at the pump. They pushed up prices to obscene levels so that we'll be happy when they drop down to less obscene levels rather than where they should be.
Record profits, my friends. That's what it's all about.If the price of oil were to fall back to a reasonable price what effect would it have on the US economy?
I would hope so
It would not change inflation because gas and food are not figured in on inflation.
it would be slow, but prices on virtually all food, energy and manufactured goods would go down, and people would start buying more, pumping more money into the system. it would also in the longer term raise wages and stall inflation.
its not a permanent or realistic solution though.
It would free up pesonal spending and start the economy rolling again and we would enjoy what we have been enjoying for the last 7 years!
It might give it a little boost. Oil companies would lose out a bit, but they're already making obscene amounts of money as it is, I think they can afford to give the average joe a break.
If we lowered the price, then we would run out faster and not be able to afford to get more. The prices are fixed by supply and demand. The rest of the world, especially China and India, have increased their demand for oil. That means the price has to go up. Oil companies now pay more to bring in oil and clean it for our use. These companies could not afford to bring in more if they charged less cause we would demand more but there wouldn't be enough money to bring it in and clean it.
Can anybody tell me where the oil price go this week?
Given a current strong economy at hand, and temperatures are on the decline, with no additional weather systems affecting the supply chain of oil, you will expect the prices to gradually go down and plateau eventually weeks down the road.Can anybody tell me where the oil price go this week?
Here is the link.................http://tonto.eia.doe.gov/oog/info/wohdp/鈥?/a>Can anybody tell me where the oil price go this week?
The price of oil this week will either go up or go down. I don't think it will stay the same.
Here is the link.................http://tonto.eia.doe.gov/oog/info/wohdp/鈥?/a>Can anybody tell me where the oil price go this week?
The price of oil this week will either go up or go down. I don't think it will stay the same.
Why is it when the price per barrel of oil goes down we don鈥檛 see an immediate drop in prices at the pump?
It seems that when there is a price increase per barrel of oil there is always an instant increase per gallon. You would think it would take a while for gas to go up since the petroleum that is at the gas stations was purchased at a different price.Why is it when the price per barrel of oil goes down we don鈥檛 see an immediate drop in prices at the pump?
I see it all the time. It is obvious they tweaking out the decline as long as possible to make a few extra bucks, in millions.Why is it when the price per barrel of oil goes down we don鈥檛 see an immediate drop in prices at the pump?
The price of gas at the pump is driven by the wholesale gasoline prices, which is driven by oil prices.
There is also some greed involved.
if the price per barrel drops at say noon today, you arent going to see an instant drop in gas prices. my cousin owns a gas station and his prices change when he actually receives the gas. so if it went down at noon today and he isnt getting gas at his station until friday...his prices will change on friday...hope this helps...
Gas stations pay for the gas they recieve when they recieve it. Since it might take 2-3-4 days to emtpy the tanks and get re-filled there is a delay before prices change.
The biggest reason is that it takes about 6 months for the crude oil your reading about today to get refined into gasoline and sold to your corner gas station.
In other words, the gas your buying today was probably taken out of the ground as crude in November or December of last year.
I see it all the time. It is obvious they tweaking out the decline as long as possible to make a few extra bucks, in millions.Why is it when the price per barrel of oil goes down we don鈥檛 see an immediate drop in prices at the pump?
The price of gas at the pump is driven by the wholesale gasoline prices, which is driven by oil prices.
There is also some greed involved.
if the price per barrel drops at say noon today, you arent going to see an instant drop in gas prices. my cousin owns a gas station and his prices change when he actually receives the gas. so if it went down at noon today and he isnt getting gas at his station until friday...his prices will change on friday...hope this helps...
Gas stations pay for the gas they recieve when they recieve it. Since it might take 2-3-4 days to emtpy the tanks and get re-filled there is a delay before prices change.
The biggest reason is that it takes about 6 months for the crude oil your reading about today to get refined into gasoline and sold to your corner gas station.
In other words, the gas your buying today was probably taken out of the ground as crude in November or December of last year.
Consider the market for labor. If the price of oil falls by 30%, how would it affect wage rate and employment?
how would a decrease in the price of oil affect the wage rate and employment in the market for labor?Consider the market for labor. If the price of oil falls by 30%, how would it affect wage rate and employment?
oil price increases result in a substantial decline in real wages for all workers, but raise the relative wage of skilled workers.
changes in oil prices induce changes in employment shares and relative wages across industries
little evidence that oil price changes cause labor to consistently flow into those sectors with relative wage increases.
oil price increases result in a substantial decline in real wages for all workers, but raise the relative wage of skilled workers.
changes in oil prices induce changes in employment shares and relative wages across industries
little evidence that oil price changes cause labor to consistently flow into those sectors with relative wage increases.
Do you think the Kuwait economic Summit will use the oil to stop the Israeli war and fix the oil prices?
think its good move to have Higher oil prices.And the world oil companies are waiting for that move.Do you think the Kuwait economic Summit will use the oil to stop the Israeli war and fix the oil prices?
I don't see why you asked this question in this category.Do you think the Kuwait economic Summit will use the oil to stop the Israeli war and fix the oil prices?
Unfortunately, most of Arab presidents are controlled by usa
I don't thing so !!!
I don't see why you asked this question in this category.Do you think the Kuwait economic Summit will use the oil to stop the Israeli war and fix the oil prices?
Unfortunately, most of Arab presidents are controlled by usa
I don't thing so !!!
What event occurred in 1973 that dramatically change oil prices?
i cannot find this please help that question will be on my final and please don't put it down if you are not for sure
thanksWhat event occurred in 1973 that dramatically change oil prices?
This should answer your questionWhat event occurred in 1973 that dramatically change oil prices?
Arabs got beaten by Israel (again) and decided to try to punish the rest of the world through oil.
OPEC started reducing the production of oil in order to control the price.
Arabs lost the arab - israeli war. Again.
latest news-
http://newsground.info/
Then there was a BIG gas shortage.scars
thanksWhat event occurred in 1973 that dramatically change oil prices?
This should answer your questionWhat event occurred in 1973 that dramatically change oil prices?
Arabs got beaten by Israel (again) and decided to try to punish the rest of the world through oil.
OPEC started reducing the production of oil in order to control the price.
Arabs lost the arab - israeli war. Again.
latest news-
http://newsground.info/
Then there was a BIG gas shortage.
Does the arabs have the right to control the oil price?
well, if it is located in their countries, it is supply and demand, and interests. of course they do and we do have the right not to buy it.nextDoes the arabs have the right to control the oil price?
technically no, because the price of crude oil is determined the London market based on demand and supply. What we dont know is that they may be jacking it using some touts on the market floor.Does the arabs have the right to control the oil price?
lol niiiicceee way to put taht.
not the place for this question.... but what the hell ill answer..
they own it.... so why not......
technically no, because the price of crude oil is determined the London market based on demand and supply. What we dont know is that they may be jacking it using some touts on the market floor.Does the arabs have the right to control the oil price?
lol niiiicceee way to put taht.
not the place for this question.... but what the hell ill answer..
they own it.... so why not......
Do you agree that speculators not to blame for oil price ?
http://news.yahoo.com/s/nm/20080630/bs_n鈥?/a>Do you agree that speculators not to blame for oil price ?
Four reasons
1-Speculation
2-Collapsing dollar
3-Restricted supply ( oil companies shut down 75% of refineries since 1985 to raise the price, oil companies won't drill on leased land to restrict supply and raise price)
4-Corporate collusion ( both OPEC and Oil companies operate as illegal monopolies)Do you agree that speculators not to blame for oil price ?
Speculators are simply on the top of a long list of scape goats.
The primary cause of the increase in oil prices is the consensus view that future oil supplies will not keep pace with future oil demand.
The debate should be centered on whether the current ';peak oil'; mentality is a result of the physical ';drying up of wells';, or a result of political pressure to limit exploration and development.
Nope
This kind of spike in price of oil is out of line.
Anytime a market drives up that high so fast will crash.
The Saudis know this that is why they are beginning to worry.
The supply is there but it is the speculators who keep driving the numbers up with no reason.
The price of oil is very complicated the speculators are part of it along with host of other reasons.
In the first week they were in power in 2000, Cheney met (secretly) with Big Oil. Since everything Bush and Cheney do is a secret, we still haven't seen the notes to that meeting - probably never will.
I imagine if you were able to see those meeting notes, you'd see how this oil ';crisis'; was all planned out from the beginning. The Supreme Court was bought to put Bush in the White House for a reason. Americans were ready to be skinned - and skinned we now are - in a criminal oil conspiracy we're far too stupid to figure out.
Are you losing your house too - that's also a little present from Bush. Remember back in 2004 when he talked about ';everybody should own their own house';.... Yup - he was setting up the table for the foreclosures now.
Nice to have a psychopath as President, hu?
That is part of it. Speculation has ALWAYS been a problem in the markets... this is NOTHING new!
The biggest issue is the 1million barrels/day difference between what is produced and what is consumed!
1million barrels is a relatively small amount and can be disrupted easily by a storm, a terrorist act, a mechanical failure... ANYTHING could cause the supply levels to fall below the orders already taken. Which would be the definition of a shortage!
they do not get all of the blame. the biggest share of the blame is upon the united states congress and senate along with past president clinton. because of liberalism in america and the democrats wanting to placate them is the most damning blame for the oil crunch right now. mr doodles
Bush and Cheney had a secret meeting with all the big oil execs shortly after taking office. At that time they worked out a plan to raise gas to $5 a gallon before Bush left office. (People used to laugh at me when I said this. They now believe me.) Bush and Cheney refused to turn over the minutes of the meeting to Congress, even taking it all the was to the US Supreme Court. Have you seen the profits the oil companies are making? This is after cooking the books and using a daisy chain to hide their profits. What would be wonderful is if the public could see how many billions of $$ Bush and Cheney's so called blind trust has increased since they took office.
Yes. They're doing their jobs, of finding and exploiting mismatches between the cost of funds and the value of the commodity - - - the problem is the cost of funds is too low. The speculators do not control their interest costs - the Fed does.
They are part of the problem. We have the Patriot act, but our strength is being weakened by this speculation. The effect might as well be a bioterrorism attack since it is slowly killing us. Best that we use th RICO act and throw them all in jail. (Hyperbole of course, but our country depends on our economy. This isn't helping.)
yes and no
Peak Oil (supply %26amp; demand) and the Weak U.S. Dollar are most to blame.
speculators are a short term problem
and - who are the speculators ?
we are ! Our..
Pension Funds, Mutual Funds and Private Hedge Funds
are partly to blame.
Partly. They are part of the problem but no where close to being the biggest problem. I like the suggestion one Wall Street expert made; to qualify to own oil futures one must have the capability to actually RECEIVE the oil.
Yep, I do agree.
I think that, as it always has, the fact that we're at war in the Middle East has artificially driven up the price of oil because they only have that way to attack us.
I think that they are part of the problem but I think that prices are higher now because worldwide demand has increased as countries such as China and India become more industrialized.
No, they are definitely to blame for inflating speculation on light sweet crude.
Its a proven economic fact.
No. Speculators are responsible for much of it, though not all. The sinking dollar (thanks, Bush!) plays a part, too.
Four reasons
1-Speculation
2-Collapsing dollar
3-Restricted supply ( oil companies shut down 75% of refineries since 1985 to raise the price, oil companies won't drill on leased land to restrict supply and raise price)
4-Corporate collusion ( both OPEC and Oil companies operate as illegal monopolies)Do you agree that speculators not to blame for oil price ?
Speculators are simply on the top of a long list of scape goats.
The primary cause of the increase in oil prices is the consensus view that future oil supplies will not keep pace with future oil demand.
The debate should be centered on whether the current ';peak oil'; mentality is a result of the physical ';drying up of wells';, or a result of political pressure to limit exploration and development.
Nope
This kind of spike in price of oil is out of line.
Anytime a market drives up that high so fast will crash.
The Saudis know this that is why they are beginning to worry.
The supply is there but it is the speculators who keep driving the numbers up with no reason.
The price of oil is very complicated the speculators are part of it along with host of other reasons.
In the first week they were in power in 2000, Cheney met (secretly) with Big Oil. Since everything Bush and Cheney do is a secret, we still haven't seen the notes to that meeting - probably never will.
I imagine if you were able to see those meeting notes, you'd see how this oil ';crisis'; was all planned out from the beginning. The Supreme Court was bought to put Bush in the White House for a reason. Americans were ready to be skinned - and skinned we now are - in a criminal oil conspiracy we're far too stupid to figure out.
Are you losing your house too - that's also a little present from Bush. Remember back in 2004 when he talked about ';everybody should own their own house';.... Yup - he was setting up the table for the foreclosures now.
Nice to have a psychopath as President, hu?
That is part of it. Speculation has ALWAYS been a problem in the markets... this is NOTHING new!
The biggest issue is the 1million barrels/day difference between what is produced and what is consumed!
1million barrels is a relatively small amount and can be disrupted easily by a storm, a terrorist act, a mechanical failure... ANYTHING could cause the supply levels to fall below the orders already taken. Which would be the definition of a shortage!
they do not get all of the blame. the biggest share of the blame is upon the united states congress and senate along with past president clinton. because of liberalism in america and the democrats wanting to placate them is the most damning blame for the oil crunch right now. mr doodles
Bush and Cheney had a secret meeting with all the big oil execs shortly after taking office. At that time they worked out a plan to raise gas to $5 a gallon before Bush left office. (People used to laugh at me when I said this. They now believe me.) Bush and Cheney refused to turn over the minutes of the meeting to Congress, even taking it all the was to the US Supreme Court. Have you seen the profits the oil companies are making? This is after cooking the books and using a daisy chain to hide their profits. What would be wonderful is if the public could see how many billions of $$ Bush and Cheney's so called blind trust has increased since they took office.
Yes. They're doing their jobs, of finding and exploiting mismatches between the cost of funds and the value of the commodity - - - the problem is the cost of funds is too low. The speculators do not control their interest costs - the Fed does.
They are part of the problem. We have the Patriot act, but our strength is being weakened by this speculation. The effect might as well be a bioterrorism attack since it is slowly killing us. Best that we use th RICO act and throw them all in jail. (Hyperbole of course, but our country depends on our economy. This isn't helping.)
yes and no
Peak Oil (supply %26amp; demand) and the Weak U.S. Dollar are most to blame.
speculators are a short term problem
and - who are the speculators ?
we are ! Our..
Pension Funds, Mutual Funds and Private Hedge Funds
are partly to blame.
Partly. They are part of the problem but no where close to being the biggest problem. I like the suggestion one Wall Street expert made; to qualify to own oil futures one must have the capability to actually RECEIVE the oil.
Yep, I do agree.
I think that, as it always has, the fact that we're at war in the Middle East has artificially driven up the price of oil because they only have that way to attack us.
I think that they are part of the problem but I think that prices are higher now because worldwide demand has increased as countries such as China and India become more industrialized.
No, they are definitely to blame for inflating speculation on light sweet crude.
Its a proven economic fact.
No. Speculators are responsible for much of it, though not all. The sinking dollar (thanks, Bush!) plays a part, too.
Is the US government doing anything to stop the spike in price of crude oil?
Other than making life more difficult for speculators (which should be done - according to Alan Greenspan, market speculation is costing us $10 - 15 per barrel), what do you have in mind? Declaring war on Saudi Arabia and Venezuela?Is the US government doing anything to stop the spike in price of crude oil?
Nothing. there was some talk about at least not adding oil to the strategic reserves, but i don't think it went anywhere. they need to go even farther and actually release some strategic reserves.Is the US government doing anything to stop the spike in price of crude oil?
Put some caps on fuel prices through our own speculators
Nothing. there was some talk about at least not adding oil to the strategic reserves, but i don't think it went anywhere. they need to go even farther and actually release some strategic reserves.Is the US government doing anything to stop the spike in price of crude oil?
Put some caps on fuel prices through our own speculators
Why are gasoline companies recording record profits with oil prices rising? Isn't this odd?
One would think that the profit margin would remain the same if the mark-up on the barrel of oil remains the same. This sounds fishy.Why are gasoline companies recording record profits with oil prices rising? Isn't this odd?
Fishy is not the word I'd use for the economic predators feasting on us!
I wrote this not more than an hour ago to another Q about oil profits and feel it is worth repeating here. I hope it helps you %26amp; others to understand ';the situation.';
';Refiner-Marketers might net anywhere betw 0.50 to 1.00 USD/gallon for every gallon that is sold to customers at the pumpstations. But most of the price you pay, about 3$/gallon, goes to well owners to pay for the crude oil that comes out of their wells %26amp; then gets refined into refined products. The oilco's get most of their profits from refining the crudes from those fields they own. When they buy crudes from oil fields that they do not own, like OPEC's, they only make the lousy refining and marketing margins which OPEC pulls oil out of the ground (for less than 0.30-0.50 $/barrel.) This means that most of the profits are going to OPEC and their willing parasites, the OILCO's to the extent that they own oilfields here in the US and in non-Opec countries. Why do you think the 5 major oilco's push so hard for access to ANWR and areas off-shore California? Now you know!!!
OIL Market prices for crudes are set by the OPEC Cartel and the OILCO'S who depend on them bec they have hungry refineries here in the US to feed. The latter are obviously agreeable co-conspirators in the 21st Century economic rip-off of the rest of the whole world that depends on oil from the Middle East which has 65 to 75% of the World's ';Proven Crude Oil Reserves';. (Google the term between the quotes)see--%26gt; http://www.opec.org/library/FAQs/CrudeOi鈥?/a> ';
Remember there are people here who work for the OILCO's who are benefiting from the situation. In fact there is evidence that some are actually paid to post disinformation about the ';situation'; to intentionally confuse you! They like to call you names and they try to discredit the people who are hurt by the high cost of gasoline, diesel and heating oil whenever you speak out. Remember that and Keep your wits about you.
If you take the sales volumes in gallons reported by the oilco's, and the volumetrics for the oil they refine by source from their owned fields and OPEC and use my per gallon margins you can calculate their huge operating incomes and their gross profits. Don't forget to add back in the monies they spend for E%26amp;P in search of new oil fields. They make the greatest profits when the oil they own in the ground otherwise they have to live with the stingy crumbs OPEC gives you! Either way you lose and they win!Why are gasoline companies recording record profits with oil prices rising? Isn't this odd?
But revenue of $65.95 billion fell well below analysts' forecast of $75.64 billion. Nevertheless, it still surged 37 percent from last year's $48.23 billion.
Chevron's revenue would have been higher if its oil production hadn't slipped by about 44,000 barrels per day from last year. Report Abuse
If, The company's production averaged 2.6 million barrels of oil per day in the1stQtr.That means they pulled out of the ground 83.6 million barrels of their company-owned reserves. Multiply by 42gal/barrel you get 3.5 Billion gals. Report Abuse
Multiply the galllons X 3USD/gal %26amp; you estimate 10.4 Billion Dollars in revenues just from sale of that crude about which half is gross profits! (I used reported volumes from the same quoted article'; Report Abuse
Any difference betw my estimate %26amp; their reported profit figure can be due to operating costs which are unavailable in the article! It may be that some of the crudes imported from OPECm which CVX has to refine, may be causing losses offseting some of the gains from refining the company-owned crudes! Report Abuse
These are rough estimates. Please keep that in mind! Report Abuse
1) the profit margin has remained the same - around 10% (which is a really fair profit margin - especially considering other products we buy that are 50 - 100% market up) ... so when the cost goes up, the sale price goes up ...
2) they are also paying a record amount in taxes - something you wouldn't hear about unless you read the business pages
Larry - of course they have it set up so the more something costs, the more they should earn - its called return on investment and is the basis for almost every business decision ever made!!
Your assumption may be accurate if they had to buy all of their oil on the market. But actually they own vast reserves already,.
It is all about Greed and they will keep sucking it out because nobody is putting a stop to it, it is only going to get worse!
They have it set up so the more oil cost them the more profit they make.
Cause oil company execs smell!
They are selfish and will use any excuse to raise prices
because they are greedy bastards
Fishy is not the word I'd use for the economic predators feasting on us!
I wrote this not more than an hour ago to another Q about oil profits and feel it is worth repeating here. I hope it helps you %26amp; others to understand ';the situation.';
';Refiner-Marketers might net anywhere betw 0.50 to 1.00 USD/gallon for every gallon that is sold to customers at the pumpstations. But most of the price you pay, about 3$/gallon, goes to well owners to pay for the crude oil that comes out of their wells %26amp; then gets refined into refined products. The oilco's get most of their profits from refining the crudes from those fields they own. When they buy crudes from oil fields that they do not own, like OPEC's, they only make the lousy refining and marketing margins which OPEC pulls oil out of the ground (for less than 0.30-0.50 $/barrel.) This means that most of the profits are going to OPEC and their willing parasites, the OILCO's to the extent that they own oilfields here in the US and in non-Opec countries. Why do you think the 5 major oilco's push so hard for access to ANWR and areas off-shore California? Now you know!!!
OIL Market prices for crudes are set by the OPEC Cartel and the OILCO'S who depend on them bec they have hungry refineries here in the US to feed. The latter are obviously agreeable co-conspirators in the 21st Century economic rip-off of the rest of the whole world that depends on oil from the Middle East which has 65 to 75% of the World's ';Proven Crude Oil Reserves';. (Google the term between the quotes)see--%26gt; http://www.opec.org/library/FAQs/CrudeOi鈥?/a> ';
Remember there are people here who work for the OILCO's who are benefiting from the situation. In fact there is evidence that some are actually paid to post disinformation about the ';situation'; to intentionally confuse you! They like to call you names and they try to discredit the people who are hurt by the high cost of gasoline, diesel and heating oil whenever you speak out. Remember that and Keep your wits about you.
If you take the sales volumes in gallons reported by the oilco's, and the volumetrics for the oil they refine by source from their owned fields and OPEC and use my per gallon margins you can calculate their huge operating incomes and their gross profits. Don't forget to add back in the monies they spend for E%26amp;P in search of new oil fields. They make the greatest profits when the oil they own in the ground otherwise they have to live with the stingy crumbs OPEC gives you! Either way you lose and they win!Why are gasoline companies recording record profits with oil prices rising? Isn't this odd?
But revenue of $65.95 billion fell well below analysts' forecast of $75.64 billion. Nevertheless, it still surged 37 percent from last year's $48.23 billion.
Chevron's revenue would have been higher if its oil production hadn't slipped by about 44,000 barrels per day from last year. Report Abuse
If, The company's production averaged 2.6 million barrels of oil per day in the1stQtr.That means they pulled out of the ground 83.6 million barrels of their company-owned reserves. Multiply by 42gal/barrel you get 3.5 Billion gals. Report Abuse
Multiply the galllons X 3USD/gal %26amp; you estimate 10.4 Billion Dollars in revenues just from sale of that crude about which half is gross profits! (I used reported volumes from the same quoted article'; Report Abuse
Any difference betw my estimate %26amp; their reported profit figure can be due to operating costs which are unavailable in the article! It may be that some of the crudes imported from OPECm which CVX has to refine, may be causing losses offseting some of the gains from refining the company-owned crudes! Report Abuse
These are rough estimates. Please keep that in mind! Report Abuse
1) the profit margin has remained the same - around 10% (which is a really fair profit margin - especially considering other products we buy that are 50 - 100% market up) ... so when the cost goes up, the sale price goes up ...
2) they are also paying a record amount in taxes - something you wouldn't hear about unless you read the business pages
Larry - of course they have it set up so the more something costs, the more they should earn - its called return on investment and is the basis for almost every business decision ever made!!
Your assumption may be accurate if they had to buy all of their oil on the market. But actually they own vast reserves already,.
It is all about Greed and they will keep sucking it out because nobody is putting a stop to it, it is only going to get worse!
They have it set up so the more oil cost them the more profit they make.
Cause oil company execs smell!
They are selfish and will use any excuse to raise prices
because they are greedy bastards
What's the best way to start getting oil prices down?
I know it isn't just a simple, easy task to do. Is there any good way to start?What's the best way to start getting oil prices down?
What I don't get is the fact that Canada has a giant oil field and we're selling it all to the USA! Dumb*ss prime ministers.What's the best way to start getting oil prices down?
Supply and demand. Either use less or make more. I'm not even sure what's driving the price up now. Is it demand from China, price fixing by OPEC?
Yep.
If the Democrats would let us drill for oil.
In Anwr, Off Shore, %26amp; Oil Rich Govt Land.
They won't.
The Environmentalist Organizations donate Millions of Dollars each Election to the Democrat Party for Not Allowing Drilling.
It's a Payoff.
I agree with Darlin and now that the auto. companies have started to develop the hybrid cars they will continue to put them on the market but not every one can afford to go out and buy a new car so we will be driving the older models for a while yet. Don't forget that we need oil for things other than gasoline and we need to get to the point that we don't need Saudi Arabia and then you will see the price go down.
Take over every opec country.
See Darlin's response, above. It is absolutely correct.
stay home and purchase no gasoline and almost completely curtail all use of electricity at home for about one to two weeks... everyone all together at once on the same week. A world vacation from using oil it could be called. A world vacation from giving Arab oil kings and Oil companies any profits .. our very hard earned money .. ought to do it.
And even if such a thing happens.. we must still devote our lives and educations to finding ways to escape Islamic control over how we spend our energy.
A massive truckers strike.
Drive less in smaller cars.
Waste less other stuff. Recycle more.
There is a:
1 - best way,
2 - an easy way, and
3 - a good way to start:
Use less of the stuff.
By the way, this is the ONLY way to start getting oil prices down.
don't use it.
find another means of transportation. when there's a large amount of it and can't be rid of, the price will drop sooner or later to rid of the oil supply
With every American making a reasonable and sound choice to use their free will and not take life for granted by thinking they can drive everywhere and anywhere without repercussions or consequences to their actions.
There was a time that working people used trucks which used more fuel than cars. Now selfish people have gas guzzling trucks just because...
By forcing our country to create an Earth friendly automobile %26amp; using improved mass transit like rail cars, we can reduce fuel consumption.
By using wind and solar energy, we can reduce other costly fuels to heat our homes and create power...
How many millions of People do we have in the states? How about homes? How many autos per family?
start using the reserves we have here in the U.S. It would also help the unemployment rate.
What I don't get is the fact that Canada has a giant oil field and we're selling it all to the USA! Dumb*ss prime ministers.What's the best way to start getting oil prices down?
Supply and demand. Either use less or make more. I'm not even sure what's driving the price up now. Is it demand from China, price fixing by OPEC?
Yep.
If the Democrats would let us drill for oil.
In Anwr, Off Shore, %26amp; Oil Rich Govt Land.
They won't.
The Environmentalist Organizations donate Millions of Dollars each Election to the Democrat Party for Not Allowing Drilling.
It's a Payoff.
I agree with Darlin and now that the auto. companies have started to develop the hybrid cars they will continue to put them on the market but not every one can afford to go out and buy a new car so we will be driving the older models for a while yet. Don't forget that we need oil for things other than gasoline and we need to get to the point that we don't need Saudi Arabia and then you will see the price go down.
Take over every opec country.
See Darlin's response, above. It is absolutely correct.
stay home and purchase no gasoline and almost completely curtail all use of electricity at home for about one to two weeks... everyone all together at once on the same week. A world vacation from using oil it could be called. A world vacation from giving Arab oil kings and Oil companies any profits .. our very hard earned money .. ought to do it.
And even if such a thing happens.. we must still devote our lives and educations to finding ways to escape Islamic control over how we spend our energy.
A massive truckers strike.
Drive less in smaller cars.
Waste less other stuff. Recycle more.
There is a:
1 - best way,
2 - an easy way, and
3 - a good way to start:
Use less of the stuff.
By the way, this is the ONLY way to start getting oil prices down.
don't use it.
find another means of transportation. when there's a large amount of it and can't be rid of, the price will drop sooner or later to rid of the oil supply
With every American making a reasonable and sound choice to use their free will and not take life for granted by thinking they can drive everywhere and anywhere without repercussions or consequences to their actions.
There was a time that working people used trucks which used more fuel than cars. Now selfish people have gas guzzling trucks just because...
By forcing our country to create an Earth friendly automobile %26amp; using improved mass transit like rail cars, we can reduce fuel consumption.
By using wind and solar energy, we can reduce other costly fuels to heat our homes and create power...
How many millions of People do we have in the states? How about homes? How many autos per family?
start using the reserves we have here in the U.S. It would also help the unemployment rate.
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