Gas Prices = Chaos

[Ride the Lightning]

75-80% of the price of a gallon of gas is the cost of the barrel of oil it came from. At $120/barrel compared with <$10/barrel 10 years ago you could do the math yourself, but I'll help. I remember paying around 60 cents/gallon for it in the late 90's and oil was around $7/barrel then. We have about 45 cents tax/gallon so the gas actually cost about 15 cents/gallon. Multiply by the 17 times more expensive oil is and you get $2.89. Add in the 45 cents tax (which is a little higher now) and you get $3.34 and we're at $3.39 right now. It's not the oil companys' fault. Oil costs what oils costs. There are three ways to drop the price: Quit using so much, take it from the rag heads by force, or quit being candy asses about the environment and drill on the home front, take your pick.

You also need to look at where the profits are coming from. The oil companies have made numberous investments over the years that cost them money. In the last few years they have paid those debts and are not enjoying the benefits of that. If you paid off the loan on your car and got a pay cut because you didn't need that money anymore how would you feel about it?

[AZXD]

Originally Posted by texas_rebel_1980

Bush even called congress out today, and it still goes up! the puppet masters want a revolution!!!!

You believe that crap. Congress, Bush all of them are lying. They do not control gas prices!!
But they sure as hell are good at creating the diversions.

[Sparks007]

Originally Posted by Ride the Lightning

Quit using so much,

Won't happen

take it from the rag heads by force,

It'll all go in the Governments pocket then

or quit being candy asses about the environment and drill on the home front.

Won't happen especially if Barrack Osama becomes the President.

[AZXD]

Originally Posted by Bill in San Jose

BP PLC and Royal Dutch Shell PLC, Europe's two biggest oil producers, posted combined profits of $17 billion today.

BP and Shell post big profits in era of record oil prices: Financial News - Yahoo! Finance

We're being squeezed and they're laughing (loudly) all the WAY TO THE BANK!

Tell me that's a joke, Bill.
Look at those profits by percentage and then look at your credit card statement, and the bank who grabs the money.

[XDConvert9mm]

Originally Posted by AZXD

Tell me that's a joke, Bill.
Look at those profits by percentage and then look at your credit card statement, and the bank who grabs the money.

Better believe it!

[AZXD]

Originally Posted by Ride the Lightning

75-80% of the price of a gallon of gas is the cost of the barrel of oil it came from. At $120/barrel compared with <$10/barrel 10 years ago you could do the math yourself, but I'll help. I remember paying around 60 cents/gallon for it in the late 90's and oil was around $7/barrel then. We have about 45 cents tax/gallon so the gas actually cost about 15 cents/gallon. Multiply by the 17 times more expensive oil is and you get $2.89. Add in the 45 cents tax (which is a little higher now) and you get $3.34 and we're at $3.39 right now. It's not the oil companys' fault. Oil costs what oils costs. There are three ways to drop the price: Quit using so much, take it from the rag heads by force, or quit being candy asses about the environment and drill on the home front, take your pick.

You also need to look at where the profits are coming from. The oil companies have made numberous investments over the years that cost them money. In the last few years they have paid those debts and are not enjoying the benefits of that. If you paid off the loan on your car and got a pay cut because you didn't need that money anymore how would you feel about it?

+1000

[Uraiit]

Originally Posted by afmo

17 billion...jesus h christ...would it be too much to ask that they cut the price in half and only make 8.5 billion in profit?

Considering that the oil business' profit margin is among the lowest in any major business, at only 10%, even if they cut their profits in half--to 5%, the price would only drop from $4/gallon, to $3.80/gallon...

The government makes as much money at the pump as oil companies... yet I don't hear anybody demanding that the government stop profiting from our dependence on oil.

I'm going to be converting my vehicles to Natural Gas over the next few months... How nice it will be, to be paying $1.70/gallon again!

[Vedican]

Originally Posted by zac07

I guess $3.50 doesn't suck as bad as I thought it did.

That kinda thinking is exactly how they get'cha too! Hehehe

[jcabin]

Originally Posted by Gadget

BrickBoy, calling BrickBoy. Come in BrickBoy! We need some input from you on this thread. Over.



Not that I am an expert, but some people don't have a good understanding of economics and the fact that oil is a commodity traded on the world market.

afmo, if I paid a $1 for a gallon of gas and sold it for $1.10, I've made 10 cents profit. If I cut the price I sell it in half, $0.55, my profit doesn't drop to half, I'm now taking a 45 cent loss. It just doesn't work that way.

Oil is sold on the world commodity markets to the highest bidders. Oil buyers are clammoring to be the winning bidder and prices get driven up. Supply and Demand! Read up on it. As Demand rises, so does the price.

thats a wonderful lesson, but the demand hasnt gone up enough to justify the increase in price. you're blind.

[bigun]

Speculators are also driving up the price and I've heard that $200 a barrel oil is right around the bend. OPEC wants Bush out and I cant think of a easier way to ensure Hillary or Obahma than to bankrupt America. It is stupid though we have been able to convert coal to oil since 1943, Oil shale/sand is plentifull and it appears that there is a huge reserve in the gulf of Mexico and in Alaska. Big oil doesnt want to invest in new refineries because of govt regulation and speculation that there will be a new green source of energy coming on line in the near future. Basicly everyone is getting what they want except for the working people of this country. We are in for a rough decade folks if the US survives it will not be the country it is today. Thank You Al Gore, talk about a inconvienient truth.