I would just like someone to explain to me what happened today to cause the station by my house to go from $3.56 to $3.84. Doesn't something smell fishy there.
I would just like someone to explain to me what happened today to cause the station by my house to go from $3.56 to $3.84. Doesn't something smell fishy there.
Well, for one thing, crude oil is up roughly $10 per barrel over the last week alone.
Their gas is very highly taxed. Without taxes the price of gas in Germany would be much closer to our prices in the States.
Agreed...
I can never understand why Europeans keep telling Americans to stop complaining. There own governments taxes their gasoline into the 2 or three dollar range....
When Europeans are paying 8-10 dollars a gallons for gas then they are about where America is right now.
Americans on average only pay about 30 cents to the gallon for taxes. Europeans pay way way higher.
I would not want his gold standard or the complete abolition of the FED immediately
You complain about the FED printing money, but you don't like the gold standard? I don't understand peoples' resistance the gold, especially those who claim to be free market advocates. What could possibly be so bad about a currency that's actually worth something?
Agreed. Taking control of the money supply away from the government can't be a bad thing.
By July 4 gasoline will be at 4.50 a gallon. Why? There is maybe a 30 to 60 delay between crude price changes and price changes at the pump. So, the recent major crude price rise will not be reflected in pump prices for a month a more--the crude has to be shipped, refined, and transported to your local shop.
A few months ago forecasters were saying gasoline would be 4.00 a gallon by Memorial Day. People were saying "I hope not", but now you have it.
blown away wrote:
I would just like someone to explain to me what happened today to cause the station by my house to go from $3.56 to $3.84.
What happened? The owner figured out that suckers like you are willing to pay $3.84 for gallon. And you will be willing to pay $4.84 and $5.84 as well. Unless you learn how to use a bicycle or public transit.
sick of this crap wrote:
I am so freaking sick of speculation driving up the price of oil...$133 a barrel? ABSOLUTELY RIDICULOUS! Now I know oil prices are going to be higher than 5 years ago but the speed of this increase is not natural. Its based on a bunch of speculators pushing up the price and causing a panic that pushes the price even further. The root of these speculators are the prics that come out and say oil will be $200 next year...blah blah blah...if they didnt come out and try to scare everyone (and thus make a bunch of money it wouldnt be). I can not wait until some day when this oil bubble bursts, and I hope it bursts so quick that all of these oil speculators will loose every single cent they have...down to the clothes on their back!
On another related issue...screw the FED...the system does not work...they have lowered interest rates so much not only have they created a system in which the dollar is ultra weak and meaning that oil prices are even higher which will lead to a recession as consumers spend more and more money on gas and cut back on everything else...but they have also destroyed all hope of fighting the future recession, rates can not be lowered anymore, well pretty much anymore...there next solution will probably be to print money...stupid, rich, tools...crushing the American economy...this is the end of height of American economic power folks, and it was primarily an inside job.
there I am done ranting...
I heard something that said that the oil stores haven't substantially increased, which would possibly indicate that speculation isn't pushing the price up and it is actually down to fundamental supply and demand, with the vast amount of extra demand coming from asia. (This may not be correct though).
You also need to remember that speculation isn't necessarily a bad thing. The price of oil may be pushed higher so that marginal oil fields may be brought into production increasing the supply and reducing the cost. Speculation helps this process happen faster.
We just have to put up with higher prices in the meantime.
Oil, oil, oil. We have the technology to produce alternative fuel cars. I remember in the 70's a car in Popular Mechanics Magazine, that ran on steam - and got up to 80 mph. I mean the article showeed the car bieng filled with a garden hose. Maybe it had glitches, or was too expensive to produce - I was too young to remember everything. My point is, the car manufacturers do not want us to use alternative fuels. The governement does not want us to use alternative fuels (even though Bush says otherwise). Even WWII was partially about oil with the Marshall Plan in the end.
We can rant all we want. This is what we need to happen. We need to get so scared that we actually do something. Then this country can tell the towel-heads that we are not slaves to your oil - see ya!
richard luxury-yacht wrote:
blown away wrote:I would just like someone to explain to me what happened today to cause the station by my house to go from $3.56 to $3.84.
What happened? The owner figured out that suckers like you are willing to pay $3.84 for gallon. And you will be willing to pay $4.84 and $5.84 as well. Unless you learn how to use a bicycle or public transit.
Actually I didn't buy gas from that station. I was just pointing out that it had increased a ton today. But thanks for the same thing that has been posted over and over.
runner1234 wrote:
I remember in the 70's a car in Popular Mechanics Magazine, that ran on steam - and got up to 80 mph. I mean the article showeed the car bieng filled with a garden hose.
Just curious where the steam came from. My garden hose doesn't produce water any where near that hot.
I know up here in good old Taxachusetts we pay $0.42 per gallon in taxes. The europeans are right on this one we shouldn't complain because if the looney left ever got their way we'd pay much more in gas taxes, cigarette taxes and every other tax possible.
Norway is equally rich, is also an oil producing country but their motor gasoline consumption per capita is just ~25% of what Americans use.Instead of complaining you guys should drive less and use more efficient cars, considering the high obesity rate in your country, it would also reduce your health care costs if people would walk more instead of driving to every destination that is more than 100m away.
Poone Bickens wrote:
By July 4 gasoline will be at 4.50 a gallon. Why? There is maybe a 30 to 60 delay between crude price changes and price changes at the pump. So, the recent major crude price rise will not be reflected in pump prices for a month a more--the crude has to be shipped, refined, and transported to your local shop.
A few months ago forecasters were saying gasoline would be 4.00 a gallon by Memorial Day. People were saying "I hope not", but now you have it.
Not necessarily true. The crack spread, while its own animal, will price anticipation immediately and efficiently.
the oil bubble will burst in the near future
wheat futures did this recently - pulled back 40% to rational levels.
gold had jumped up to near 1100, and recently dropped down to near 850 - although it has been creeping up due to higher oil prices.
other commodities have recently risen sharply and pulled back.
if you listen and read reports, "futures prices are up sharply over supply >>concerns<< ... or "fears" - not actual shortages, only fears and concerns.
one story pointed out that there was a refinery fire in oklahoma ... vids on the news showed billowing black smoke and of course oil prices went up. in a nutshell this refinery was a terribly, terribly small refinery which essentially contributed nothing - yet it drove prices up. everything is driving prices up, which is a sure sign that a bursting bubble is near.
my guess is that the majority of the price increase in the last 6 months is the result of pure speculation and manipulation.
ccccccccccc wrote:
Norway is equally rich, is also an oil producing country but their motor gasoline consumption per capita is just ~25% of what Americans use.Instead of complaining you guys should drive less and use more efficient cars, considering the high obesity rate in your country, it would also reduce your health care costs if people would walk more instead of driving to every destination that is more than 100m away.
The US is like 5X the size of Norway. The US population is spread out across the entire country not just the most southern part as it is in Norway.
That has to bee the most ridiculous comparison I've heard on this issue.
mc spanky wrote:
the oil bubble will burst in the near future
wheat futures did this recently - pulled back 40% to rational levels.
gold had jumped up to near 1100, and recently dropped down to near 850 - although it has been creeping up due to higher oil prices.
other commodities have recently risen sharply and pulled back.
if you listen and read reports, "futures prices are up sharply over supply >>concerns<< ... or "fears" - not actual shortages, only fears and concerns.
one story pointed out that there was a refinery fire in oklahoma ... vids on the news showed billowing black smoke and of course oil prices went up. in a nutshell this refinery was a terribly, terribly small refinery which essentially contributed nothing - yet it drove prices up. everything is driving prices up, which is a sure sign that a bursting bubble is near.
my guess is that the majority of the price increase in the last 6 months is the result of pure speculation and manipulation.
While I too believe oil is getting "frothy" in a speculative way, to compare it to other commodities is, at best, disingenuous, and at worst, a blatant disregard for basic economics. Check out the second video in the story below:
http://www.cnbc.com/id/24723260/site/14081545/Don't believe anything that you hear on cnbc - next you will be telling us that you receive your investing advice from Jim "Pump and Dump" Cramer.
Sagarin wrote:
By the way, you do realize that we consume the exact number of barrels of oil per day now as we did some 20 years ago right? The exact same. Consumption has not increased, despite growth in the population and the economy, because we have become much more efficient in our use of energy. And you can thank the free market and technological innovation for that cute little factoid, the same technological innovation that will ultimately get us out of the current mess, unless some self-motivated bureaucrats implement overzealous and onerous regulation, which I'm quite certain is the direction we are headed in.
Complete and utter BS.
Year Consumpion (millions barrels/day)
1988 17283.31
1989 17325.15
1990 16988.5
1991 16713.84
1992 17032.86
1993 17236.73
1994 17718.16
1995 17724.59
1996 18308.9
1997 18620.3
1998 18917.15
1999 19519.34
2000 19701.08
2001 19648.71
2002 19761.3
2003 20033.5
2004 20731.15
2005 20802.16
2006 20687.00
2007 21700.00