Topspin
Verified User
not so fast grasshopper, if that were as true as you think Brent crude wouldn't be a lot higher than WTI
Gas prices
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not so fast grasshopper, if that were as true as you think Brent crude wouldn't be a lot higher than WTI
I don't understand, if demand is down, why the price of oil and gas are up? They have to make up for the lost revenue?
demand is not down, see the link I posted. The estimate for the year is down. But that estimate still has consumption up 1,000,000 bbls per day.
When supply is tight like that and something crazy like the bomb Iran republicans happens the price shoots up. It could go a lot higher real fast with the retarded warmongering republicans jawjacking.
When supply is tight like that and something crazy like the bomb Iran republicans happens the price shoots up. It could go a lot higher real fast with the retarded warmongering republicans jawjacking.
In our Daily News today an article stated demand is down.
US demand has been down several years in a row, world demand is up way more than we are down. That is all!
christiefan915
Catalyst
Here's an article that explains why we're all paying such different prices for gas.
Feb 24, 2012 7:07pm
[h=1]‘Abnormal’ Gas Price Differences Across the U.S.[/h]When it comes to overpriced gas, the United States doesn’t look all that “united.”
In California, drivers are finding high gas prices — more than $4 a gallon — across the state, according to an informal survey by ABC News.
The most expensive gas reported in America — at $5.21 a gallon — was spotted at a Mobil station in the Los Angeles area.
In the Northeast, the average price for a gallon of gas was between $3.60 and $3.93.
While the rest of the country seemed to pay between $3.38 and $3.71, a few states saw prices of $3.16 and even lower. Fort Collins, Colo., was home to the cheapest gas at a U Pump It station — $2.94 a gallon.
Although prices always vary from state to state, Tom Kloza, a chief oil analyst for the Oil Price Information Service, said the current situation was unique.
“Now, it’s normal for California to separate itself from the rest of the country,” he said. “But it’s very abnormal to see such weak pricing inside the Heartland and to see the coasts with some of the extreme. I think that’ll continue for a while.”
He said the refineries on the U.S. coasts were buying expensive crude from Saudi Arabia and Nigeria while the inland states received the cheaper stuff from Canada and North Dakota.
And the price disparity isn’t just apparent on the national level.
In Dallas, where DallasGasPrices.com said the average price of gas is $3.59 a gallon, just a few miles made the difference between a Shell station selling gas at $4.19 and a Sam’s Club and Costco selling it for $3.39.
Kloza said the big-box stores were able to sell more cheaply for several reasons.
“It’s not about making money necessarily on gasoline in the big-box clubs,” he said. “It’s about getting you inside to buy all their other merchandise in those clubs. Last year, we saw a couple of them actually increase their customer counts by as much as 16 percent with cheap gas.”
Greg Laskoski of GasBuddy.com, which offers a free mobile app to help you find cheap gas in your area, offered these reasons for price differences in the same city:
Overhead: Some retailers own their property and others lease. They also have different wholesalers.
Delivery: The timing of the delivery has an impact because wholesale prices go up and down daily. Retailers also anticipate the higher price in delivery so they hike their prices to cover the higher cost they have to lay out.
Location: Depending on the county, taxes can be higher or lower.
http://abcnews.go.com/blogs/headlines/2012/02/abnormal-gas-price-differences-across-the-u-s/
Feb 24, 2012 7:07pm
[h=1]‘Abnormal’ Gas Price Differences Across the U.S.[/h]When it comes to overpriced gas, the United States doesn’t look all that “united.”
In California, drivers are finding high gas prices — more than $4 a gallon — across the state, according to an informal survey by ABC News.
The most expensive gas reported in America — at $5.21 a gallon — was spotted at a Mobil station in the Los Angeles area.
In the Northeast, the average price for a gallon of gas was between $3.60 and $3.93.
While the rest of the country seemed to pay between $3.38 and $3.71, a few states saw prices of $3.16 and even lower. Fort Collins, Colo., was home to the cheapest gas at a U Pump It station — $2.94 a gallon.
Although prices always vary from state to state, Tom Kloza, a chief oil analyst for the Oil Price Information Service, said the current situation was unique.
“Now, it’s normal for California to separate itself from the rest of the country,” he said. “But it’s very abnormal to see such weak pricing inside the Heartland and to see the coasts with some of the extreme. I think that’ll continue for a while.”
He said the refineries on the U.S. coasts were buying expensive crude from Saudi Arabia and Nigeria while the inland states received the cheaper stuff from Canada and North Dakota.
And the price disparity isn’t just apparent on the national level.
In Dallas, where DallasGasPrices.com said the average price of gas is $3.59 a gallon, just a few miles made the difference between a Shell station selling gas at $4.19 and a Sam’s Club and Costco selling it for $3.39.
Kloza said the big-box stores were able to sell more cheaply for several reasons.
“It’s not about making money necessarily on gasoline in the big-box clubs,” he said. “It’s about getting you inside to buy all their other merchandise in those clubs. Last year, we saw a couple of them actually increase their customer counts by as much as 16 percent with cheap gas.”
Greg Laskoski of GasBuddy.com, which offers a free mobile app to help you find cheap gas in your area, offered these reasons for price differences in the same city:
Overhead: Some retailers own their property and others lease. They also have different wholesalers.
Delivery: The timing of the delivery has an impact because wholesale prices go up and down daily. Retailers also anticipate the higher price in delivery so they hike their prices to cover the higher cost they have to lay out.
Location: Depending on the county, taxes can be higher or lower.
http://abcnews.go.com/blogs/headlines/2012/02/abnormal-gas-price-differences-across-the-u-s/
some more on the politicization of oil/gas prices
http://news.yahoo.com/lets-politicize-high-gas-prices-124414423.html
http://news.yahoo.com/lets-politicize-high-gas-prices-124414423.html
christiefan915
Catalyst
About the same time we can expect to get repaid for the Iraq War from all the oil revenue that's coming our way.
Basinga!
wiseones2cents
Verified User
Why doesn't fox news want Ron Paul to look like a Genius? Doesn't fox represent the Tea Party also?
The fact of the mater is that the Republicans are more to blame for the high gas prices then Obama. Obama just took over where the last boss left off. Meet the new boss. Same as the old boss.
wiseones2cents
Verified User
It doesn't take a college economics class to put 2+2 together and equal 4.
The oil people keep changing their excuses. Just like GWB and his reason to invade Iraq.
Their latest? Well there are not enough refineries. Is that so? Is that why they want to send Canadian oil to a Texas refinery? Because they lake refining capability? I call B.S.!!!
Two headlines this month. One stating prices are up in spite of weak demand and that our problems are due to refining capability. Both of which are lies.
http://finance.yahoo.com/news/angry-about-high-gas-prices--blame-shuttered-oil-refineries.html
Their bullshit excuses do not fool anyone anymore!
cawacko
Well-known member
This article is correct President's really have little control over gas prices. It is politicians that use it as an issue to bludgeon their opponents. However that is a bi-partisan technique.
We only need go back several years to watch this clip of Nancy Pelosi blaming Bush for high prices. Have you heard Pelosi say anything about Obama this time? (of course not nor would one expect her to, it's how the game is played).
wiseones2cents
Verified User
I am well aware of the theory and also aware that there is more supply then demand when it comes to oil stupid. Therefore we are being gauged. I would say they are controlling supply to increase demand, though OPEC SUPPOSEDLY stated that even though they increase supply, prices still goes up. Basically OPEC is saying it is the oil companies doing the gauging.
wiseones2cents
Verified User
I was hoping to get a better response but I guess people are not as pissed as I am about these gas prices. We should be yelling in the streets! But I guess people are too busy working for the rich to take the time off and stand up for themselves!
But the Union workers always seem to find the time to protest either wage freeze or what may have you. That is why they get results. That is why the gay community gets results. That is why the black community gets results. That is why the feminists got results, that is why anyone that protests in significant numbers? GETS RESULTS!
But the Union workers always seem to find the time to protest either wage freeze or what may have you. That is why they get results. That is why the gay community gets results. That is why the black community gets results. That is why the feminists got results, that is why anyone that protests in significant numbers? GETS RESULTS!