gas prices $5 per gallon this summer or fall??

[qeuqheeg222]

mind ya if a hurricane goes anywhere near the gulf coast of america-texas,louisiana,mississippi,alabama during the season we will see price gougin like this.......and you thought it was bad now...

[thx1138]

Yes, big oil has us by the cojones.

[qeuqheeg222]

an they will come up with any story to the speculators to raise prices.."oh those pesky nigerians" "oh chavez said blah diablo del mundo blah"oh a US destroyer toyed with two iranian lifeboats.......cheap oil and general motors fucked up our city plannin and mass transit so bad in this country....

[thx1138]

OPEC is blamed all the time. The average American doesn't know that the crude price is set by the commodity traders in NY and London. The big profit comes from selling refined products. This more than anything else contributes to the pump price.

[thx1138]

more on oil: http://www.atimes.com/atimes/Global_Economy/JE10Dj05.html

[Gmanfromthechi]

5 bux a gallon will happen b4 end of summer. Guaranteed.

[canvor]

the last time i went to the gas station, it was $9.09 US per gallon...

[trannybanger]

the last time i went to the gas station, it was $9.09 US per gallon...

i was about to mention the same thing. it is cheaper in the u.s. than in most of the world thanks to the shielded economy. the game has got to end sometime.

[cockgobbler]

The U.S. is among the cheapest right now.

In Canada we are paying anywhere between $1.25 and $1.39 per litre. If you convert the U.S. gallon into litre's, the States is paying about 95 cents/litre.

Big oil has some if not all of those "speculaters" in their back pockets no doubt.

[ottorocket]

EUROPE

Norway $2.22 $10.09 $353

Netherlands $2.21 $10.04 $351

Belgium $2.11 $9.59 $329

United Kingdom $2.05 $9.31 $326

Italy $2.01 $9.13 $319

Portugal $2.01 $9.13 $319

France $1.93 $8.77 $307

Germany $1.92 $8.72 $305

Poland $1.81 $8.22 $287

Spain $1.58 $7.18 $251

Russia $0.83 $3.77 $139
ASIA

Japan $1.43 $5.41* $227

Kazakhstan $0.72 $3.27 $114

China $0.60 $2.73 $95
AMERICAS

United States $0.81 $3.07* $129

Mexico (as of Dec.21) $0.65 $2.47* $103

Venezuela $0.03 $0.12 $4.19

Brazil $1.40* $6.36 $222
OTHERS

Nigeria $0.59 $2.68 $94

Saudi Arabia $0.12 $0.55 $19

Iran $0.11 $0.50 $17

* NOTE: U.S., Mexico and Japan use U.S. gallons (1 U.S.
gallon = 3.785 litre). Other countries use imperial gallons (1
imperial gallon = 4.546 litre).

A barrel is 34.97 imperial gallons and 42 U.S. gallons.

Data for EU countries were provided by the AA Motoring Trust
and are as of Jan. 18. U.S. prices from the U.S. Department of
Energy are as of Jan. 14. Japanese figures from the Oil
Information Centre are as of Jan. 16.

Other prices are provided by Reuters reporters.

Brazil's gasoline sold at the retail market typically
contains 25 percent of ethanol.

Some local currencies are converted to dollars by
Reuters.

[doasuwill]

Quit buying and selling the big beasts, Yukons, Hummers, F250,350, Suburbans. Americans need to change their habits and fast.

[Ziggy33]

Its real simple, we need to start drilling in our own backyard!! Alaska, off of both coasts and more in the south. Sorry enviro's!!!! We should of started 10 years ago though. We also have enough coal that can be converted into oil to last us over 200 years. The govt won't open the doors for this to happen though :( The governors of Montana and the Dakotas are trying to get the feds to let them open of the gates so we can begin the coal process, but theres no response to there request. We're going to be paying a MAJOR price pretty soon because we're so dependent to the middle east when it comes this crap. Many experts are predicting about 10 dollars a gallon this time next year in the US by the way!!

[trish]

We're already pumping oil from Alaska and the coasts, and we started doing it a half century ago. I presume what you're really saying is we should start drilling in the Arctic National Wildlife Refuge. The reserve there holds about six months worth of oil. Had we started there ten years ago, it would've already been depleted nine years ago. I agree, the solution is simple; it's called conservation and alternative sources. In 2004 Earth's six billion people consumed 5 x 10^20 Joules of energy!! Most of it from fossil fuels. Don't fool yourself...it's going to run out.

[Minutemouse9]

You should take a look at this

http://www.youtube.com/watch?v=nsJAlrYjGz8

[T Oracle]

FOR FUCKS SAKE, STOP WINGEING.

ARBITRAGE!!!!!


Buy the stuff where it's dirt cheap! Commonly known as the US. Sell it where it's expensive. Commonly known as Europe.

Hey, I'm willing to pay $7/gallon. Ship it to me baby! $7/gallon is ... $4/gallon less than I pay now.

FOR FUCKS SAKE, STOP WINGEING.

[El Nino]

It will be $8/gal by the end of the summer. And Americans will sit back and take it up the rear end (no pun intended here on HA) because Americans have no balls anymore

[El Nino]

Prices of food are also skyrocketing... And this totally sucks!

[Nowhere]

Drilling is not the issue. It's collusion and refineries. We could drill for every last drop of oil on the planet and if we can't refine it (ours are at capacity and they're intentionally building no more), we're getting no more gas to the station. They ALL do this, and they all make a fortune.

However, the average IQ in America is 100, so the vast majority of people don't get it, so they parade the CEOs in front of congress, people think something will get done and nothing does, so the process keeps on repeating itself.

Note: There is an effect of international arbitrage (i.e. all of the real estate investment moved to the energy sectors) but it wouldn't last if they would be building more refineries.

But, what the hell do you expect from an oil president whose cabinet members have had tankers NAMED after them?

Cheap gas? ROFL!!! :(

P.S. The prices will never go down because the companies have realized a system that works for artificially high prices. They may level off, but that's only going to be bits and pieces, likely at $8/gallon (Q2 2009) to $12/gallon in 2010. But, the gas prices shouldn't worry you. The cost of basic goods, like food, which will be JACKED because of transport costs, is what you should be scared of. This carries over to everything everywhere costing a fortune.

[qeuqheeg222]

i love the people who think if we dig up the gulf and alaska ranges will change anything in the equation of big oil speculation..exxon has already told everybody in the last big wig meetin that they aint gonna up production levels until 2012 so they can maintain their profit margins for annual growth...remember that ethanol shit was supposed to git r done to???...they really fear SOLAR POWER...god forbid everybody producing all their own electricity for the fuckin ac,without paying the almighty utility monopoly.....

[Oli]

Blaming greedy oil companies for the rising price of gas is simply irresponsible. The profit margins of a few selected industries are as follows:

Periodical Publishing 24.9%
Shipping 18.8%
Application Software 22.5%
Tobacco 19%
Water Utilities 10.2%
Major Integrated Oil and Gas 9.5%
Hospitals 1.4%
Drugstores 2.8%

http://mises.org/story/2940

http://www.blarguments.com/blog/wp-content/uploads/2008/04/gas-price-breakdown.jpg

[qeuqheeg222]

and we really do consume way to much over here in america...and our bad city planning -lack of good,fast mass transit(streetcars and trains) shows how much the cheap oil mucked us up...

[dan_drade]

I've got two words: POPULATION CONTROL......

motherfuckers should stop having 10-15 kids...if there is one thing the government SHOULD control, it's this...

Hahahaha,
I love your idea man. I have been telling friends and family for years that our obsession to have babies faster then girls have periods is the real reason behind all of our fuel and polution problems. Carbon footprint everyone is yelling these days. FUCK carbon footprint when you have a family of 8. Just think how small a families carbon footprint would be if they were only a family of three!!! However, when I tell people this the look at me like I am crazy. Obviously it is next to impossible to ask guys to keep their dicks in their pants and to tell girls to keep thier god damn legs closed. And it seems to be even more impossible to expect people to even use birth control or get a god damn abortion if you cant control the urge to spread your legs. And even worse are the wonderful folks that can't even get pregnant. Then they go out and get impregnated with a dozen embryos. The when the time comes to decide which eggs have to be terminated, they can't even make that decision so they just have them all. They end up with 4, 5, 6, 7 and even 8 babies at the same time. WTF???????????????????????????????????. OMFG, if you know you will not be able to terminate and of the pregnancies, then don't have the little motherfuckers put in your uterus to begin with!!!

Anyway, back to the problem at hand... FUEL. Where will the next type of fuel come from. Obviously there is no end in sight when it comes to the price of crude oil, and it is sure to run out at some point in time. Although as of now, nobody can really say when that will be.

However, there is an alterantive and the alterantive is nuclear power. Nuclear power is safe, clean and fairly easy to transport and dispose of. The problem is that when you even mention the word "nuclear" people go "nuclear" on you and freak out.

There are other sources of power out there like wind, solar, corn etc. etc. However, none of the other alternatives have enough availabilty to replace crude oil. So unless someone els can come up with some other bright idea, we are stuck with what we have right now. And nuclear power is the only one that can provide what we need today.

The only other alternative is to stand around wringging our hands and complaining that OPEC and fuel companies are ripping us off for their own profits. Personally i prefer the former to the latter.

Any other ideas out there???


Oh one more thing. If more guys would date and settle down with a nice T-girl, there would be a lot less babies being brought into this world!!!
That ought to be a law!!! The only problem would be that there are not enough girls to go around. :)

[trish]

If the profit margin (net income/net sales revenue) for major integrated oil and gas is 9.5%, how come it doesn't appear on the gas pump shaped pie-chart above?

[Oli]

If the profit margin (net income/net sales revenue) for major integrated oil and gas is 9.5%, how come it doesn't appear on the gas pump shaped pie-chart above?

It's incorporated into the 'refining' and 'marketing and distribution' slices.

http://www.energy.ca.gov/gasoline/margins/index.html

I didn't think people wanted to see a more detailed breakdown.

[trish]

Since when is profit included in the cost of refining and marketing?

[Oli]

Since when is profit included in the cost of refining and marketing?

Do you believe the refiners are an altruistic bunch? Are the distributors?

Look at the tables in the link above.

[trish]

No, and I don't expect them to be. But I do expect their PR to reflect profits honestly and not hide them as costs. Well, live and learn.

[El Nino]

Yall muthafuckas better learn some survival skills for when the shit hits the fan and the lights go out! Dog eat dog time bitches! LOL

[Oli]

No, and I don't expect them to be. But I do expect their PR to reflect profits honestly and not hide them as costs. Well, live and learn.

Honesty in big business? C'mon Trish, we both know Pinocchio works in the Marketing department.

[trish]

good night all...gotta quit burnin' the midnight oil!

[justatransgirl]

$5 gas - GOOD - it will keep all the "little people" off the road and out of my commute! the past few months has been wonderful, the traffic between San Diego and LA is down about 15%.

I'll gladly pay an extra couple of hundred a month to be able to actually travel down the road.

Now if somebody can just fix the *$%&^*# roads in California so we don't need 4WD monster trucks to negociate the freeway I'll be in heaven.

Giggle,
TS Jamie :-)

PS - NATIONALIZE THE OIL COMPANIES! THE OIL BELONGS TO US ALL!

[trish]

First a confession: I’m dizzy when it comes to money. I hate balancing my check book and filling out the income tax forms (don’t get me wrong, I pay my taxes with patriotic pride…I’m just confused and bored by the task). Anyway…

So I go to

http://www.energy.ca.gov/gasoline/margins/index.html

and find that on of May 5 this year, 13 cents of each $3.90 retail that Californians spent on branded gas went to pay for distribution costs, marketing costs and the remainder of the 13 cents went to profit. This leaves a maximum profit margin of only 0.13/3.90 = 0.033%. But major integrated oil and gas profits are reported to be 9.5%. I presume that either 1) I’m being an idiot (it happens once or twice a day); or 2) the real profits from oil aren’t made at the pump; or 3) the reported figures don’t represent what the labels seem to indicate.

BTW: I spend $60.00 per gallon on cappuccino.

[Oli]

First a confession: I’m dizzy when it comes to money. I hate balancing my check book and filling out the income tax forms (don’t get me wrong, I pay my taxes with patriotic pride…I’m just confused and bored by the task). Anyway…

So I go to

http://www.energy.ca.gov/gasoline/margins/index.html

and find that on of May 5 this year, 13 cents of each $3.90 retail that Californians spent on branded gas went to pay for distribution costs, marketing costs and the remainder of the 13 cents went to profit. This leaves a maximum profit margin of only 0.13/3.90 = 0.033%. But major integrated oil and gas profits are reported to be 9.5%. I presume that either 1) I’m being an idiot (it happens once or twice a day); or 2) the real profits from oil aren’t made at the pump; or 3) the reported figures don’t represent what the labels seem to indicate.

BTW: I spend $60.00 per gallon on cappuccino.

Nothing dizzy about you Trish. The key is integrated, the large oil companies own (wholly or in part) the refineries, the shipping and the distribution. Look again and compare the differences between the refining costs of branded and unbranded vis the distribution costs.

:smh

[trish]

No, I was being ditzy...didn't notice profits were also included with refinery costs as well. For May 5 this makes the upper bound for the profit margin for branded oil 100x(.13+.24)/3.90 = 9.49%.

[trish]

When publishers of periodicals report 24% profit margin do they really mean 24 cents of each dollar the customer spends goes toward binding, distribution and oh yes, profit? To me it seems a bit silly for California to report it that way and also makes the profit seem larger than what it is.