The Cost of Oil.

[frisco 0]

The high cost of oil is based on one thing...Bush economy.

 

Bush is an oil man. Thats one of the reasons everything is an excuse to raise the cost of oil. The oil companies are making Billions of dollars in profits...which kinds of indicates that price goughing is in effect.

 

Not a lot we can do about it. Hopefully next time out we have enough sense not to elect a person who went to war for the sole purpose of raising the gas prices.

[Jobber of the Week 0]

Wow, that's like an INXS quality post up there. Congrats.

[MarvinisaLunatic 0]

The little blurb on the bottom of the screen "Bush warns there may be Gas shortages" had me laughing.

 

If you go and tell people "there may be gas shortages" everyone is gonna run to get gas now. Well..duh..there might be gas shortages then.

 

My license plate ends in 0..I guess Im an even day person when we get to rationing..

[Big Ol' Smitty 0]

God dammit. It's 3.09 a gallon here. So I can get 3 gallons and a little bit more for 10 bucks!? 10 bucks used to get me like 8 to 9 gallons!!! God dammit!

This is gouging and the thing that sucks is that there is NOTHING I can do about it right now!

<{POST_SNAPBACK}>

[Slayer 0]

owned

[The Czech Republic 0]

Yeah, pwnedzorz and such, but I don't think it's entirely unreasonable for people to get upset if prices go past $3.50 a gallon. I mean, it's not as if we can all take the train or our bikes. Civil engineers designed a lot of this country for the automobile. I'm not complaining: I'm at college so everywhere I need to go, I'm getting to by foot. If I want to go to Chicago, I'm taking the train. But for people who have no choice but automobiles for transportation, maybe an abrupt >$1 increase in gas prices isn't so frivolous?

[Stephen Joseph 0]

To whoever had that boneheaded post about and an oil economy.

 

Hello. Welcome to TSM. By the way, I'm a freaking economist, and you're totally an idiot.

 

Thank you.

 

btw, nice cartoon...totally true

[Big Ol' Smitty 0]

I'm a freaking economist

 

No way!

[Slayer 0]

Yeah, pwnedzorz and such, but I don't think it's entirely unreasonable for people to get upset if prices go past $3.50 a gallon. I mean, it's not as if we can all take the train or our bikes. Civil engineers designed a lot of this country for the automobile. I'm not complaining: I'm at college so everywhere I need to go, I'm getting to by foot. If I want to go to Chicago, I'm taking the train. But for people who have no choice but automobiles for transportation, maybe an abrupt >$1 increase in gas prices isn't so frivolous?

I understand that part, but I tend to feel less sympathy when on the road I still see so many fuck-off pickup trucks and SUVs that practically get single-digit mpg. I have a fairly fuel efficient car, so even an increase in $1 gallon increases weekly my gas budget by about $10-15. A small loss, but not enough to complain about... though I do worry what will happen when increased transportation costs affect the prices of general goods (food, clothing, etc.)

 

I'm far from an angry tree-hugger type, but I've been getting gradually aggravated over the last couple years whenever I go on the interstate and get passed by these giant gas-guzzling fuckoff vehicles and I'm already going 10 over the limit.

[tominator89 0]

The thing is, gas is not like other products were you have the option to buy a generic brand. And in rural areas where I live there are no trains or busses to take.

[Slayer 0]

My point wasn't about the gas itself, it's how a lot of people are using the gas (i.e. inefficiently)

 

I know some people can't just as easily ditch their beat-up old cars if they lack the credit/funds to get a new vehicle, but if you bought a new pickup truck or SUV in, say, the last five years and didn't absolutely need it (i.e. transporting heavy goods, not driving the kids to and from school) then you could have just as easily gotten a fuel efficient car for the same (or even less) price.

[The Czech Republic 0]

Oh totally, a lot of blame has to fall on people who buy gas-guzzling vehicles that they don't need. These two twin brothers I know, their dad bought them both brand-new Saab SUVs or something for their 16th birthdays. God bless conspicuous consumption!

[Guest Agent of Oblivion]

I'm still saying it's the oil companies taking advantage of our outrageous demand. Good business, sure, but there's GOT to be some gouging involved. No one ever answered me on my inflation question, either.

[10 Pounds 0]

Gaz price went up again today in my town. It now costs $ 147.4/litre, which is the equivalent of $US 4.96 per gallon.

 

So far, it went up 39 cents within a week. At the beginning of the year, the price was a little less than half of what it is right now.

[EVIL~! alkeiper 0]

The only thing that gets me really upset about the gas prices is that a local station by the interstate raised their prices to $3.45 for regular, while I bought gasoline 15 miles away for $2.79 a gallon.

[SuperJerk 0]

To whoever had that boneheaded post about and an oil economy.

 

Hello.  Welcome to TSM.  By the way, I'm a freaking economist, and you're totally an idiot.

 

Thank you.

<{POST_SNAPBACK}>

 

You know, we do have these handy reply buttons now that allow us to quote the person in our posts so everyone else will know the hell we're talking about.

[Stephen Joseph 0]

he wasnt worth it

[Sass 0]

Who should be blamed for shitty gas prices:

 

Bush, the oil companies, OPEC or someone else?

[Slayer 0]

The American consumer

[SuperJerk 0]

Who should be blamed for shitty gas prices:

 

Bush, the oil companies, OPEC or someone else?

<{POST_SNAPBACK}>

 

I say market forces.

[RepoMan 0]

I don't think anyone who bothered to keep up with current events can say they're shocked about gas prices, and I'm sick of political cartoons showing the flooding of NO that use it as a metephor for gas prices. Pepole are dieing and your bitching about paying more. (Yes, it going to be a major pain in the ass paying for gas, but it's not comparable to going days w/o food and water ect.)

 

This has been brewing for a long time nothing, and our leaders have done nothing about it. No major investment in public transportation, they've virtually killed Amtrak, did nothing about sprawl ect, and the auto makers did nothing to improve fuel effentiancy. A very minor investment could have put more Hybrid and fuel effiant cars on the road. Meanwhile the soccer moms tried to be cool and just had to have fucking SUVs.

[CheesalaIsGood 0]

Kuwait Pledges $500M for Hurricane Relief

By Associated Press

KUWAIT CITY -- The oil-rich Persian Gulf state of Kuwait said Sunday it will donate $500 million in aid to U.S. relief efforts after Hurricane Katrina.

 

The offer is the largest known put forward since the hurricane ravaged Louisiana, Mississippi and Alabama and follows a $100 million aid donation from the emir of a Mideast neighbor, Qatar.

 

Kuwait's energy minister said his country would provide "oil products that the disaster-stricken states need in addition to other humanitarian aid."

 

"It's our duty as Kuwaitis to stand by our friends to lighten the humanitarian misery and as a payback for the many situations during which Washington helped us through the significant relations between the two friendly countries," Sheik Ahmed Fahd Al Ahmed Al Sabah said in a statement carried by Kuwait's official news agency, KUNA.

 

Kuwait is one of America's closest Mideast allies and owes its 1991 liberation from Iraqi occupation forces to a U.S.-led coalition that drove Saddam Hussein's army out.

 

Kuwait and Qatar's donations came as the Egypt-based 22-member Arab League called on Arab nations to provide relief to the U.S.

 

The Arab League said that its secretary-general, Amr Moussa, sent a cable of "deep condolences and regret to the U.S. administration over the effect of Hurricane Katrina ... and called on all Arab countries to extend aid to the United States to face the exceptional humane circumstances."

 

 

http://www.latimes.com/news/nationworld/wo...ack=1&cset=true

 

 

 

Hey some GOOD news! Not that it'll sway gas prices but hey, any little bit helps after Katrina. Even better that it comes from a country that OWES us.

[MrRant 0]

Oil bubble?

 

Forbes warns of oil bubble

James McCullough and Mandi Zonneveldt

31aug05

 

PUBLISHING billionaire Steve Forbes has predicted that soaring oil prices will lead to a crash that could make the hi-tech bust of 2000 "look like a picnic".

 

Mr Forbes, publisher of Forbes magazine, said the price of oil, which peaked at more than $US70 a barrel on Monday as Hurricane Katrina headed for the US Gulf Coast, was unsustainable.

 

He said factors such as inflation and increased demand for oil from China and India accounted for only a small part of the price hike from $US25-30 a barrel three years ago.

 

"The rest of it is sheer bubble speculation," he said.

 

Mr Forbes, who was speaking at the opening of the Forbes Global CEO Conference in Sydney yesterday, said the higher the oil price rose, the harder it would eventually crash, creating more pain for hedge fund managers and their clients.

 

"I don't think it's going to go to $US100 but if it does the crash is going to be even more spectacular," he said.

 

"It will make the hi-tech bubble look like a picnic -- this thing is not going to last."

 

He predicted that oil would fall to $US30-35 a barrel within a year.

 

Mr Forbes's comments came as the price of oil eased following US Government comments that it could release some of its Strategic Petroleum Reserve.

 

The 700 million barrel stockpile is set aside for emergency use and could be used to counter oil shortages caused by Katrina's impact on the Gulf of Mexico, which accounts for about a quarter of US output.

 

After leaping nearly $US5 a barrel to $US70.70 on Monday, US oil futures retreated more than $US1 a barrel yesterday.

 

On the physical market, Texas Intermediate was trading at $US67.40 while London Brent Crude was up $US1.88 a barrel at $US66.75.

 

Katrina crossed the United States coast yesterday after closing the Louisiana Offshore Oil Port, the biggest US oil import terminal, and halting 92 per cent of normal Gulf output.

 

The market was nervously awaiting news of the impact of the hurricane last night.

 

Royal Dutch Shell reported that its production platforms in the Gulf of Mexico may have been damaged.

 

BHP Billiton's operations were expected to remain suspended for the next few days, company spokeswoman Emma Meade said.

 

She said the impact of the storm would not be known for several days.

 

Petsec Energy said its two offshore platforms were not in Katrina's direct path.

 

In Australian trade yesterday shares in BHP Billiton bounced back 44 to $20.47. Petsec finished 4 higher at $1.60.

 

Oil heavyweights retreated on profit-taking and after Opec indicated it would increase production to deal with any supply shortages.

 

Woodside slid 41 to $32.94 while Santos fell 30 to $11.52.

 

with AFP

 

http://heraldsun.news.com.au/common/story_...7%5E664,00.html

[Dr. Zaius 0]

Hey some GOOD news! Not that it'll sway gas prices but hey, any little bit helps after Katrina. Even better that it comes from a country that OWES us.

<{POST_SNAPBACK}>

 

That's putting it mildly. Funny how the Islamic extremists seem to forget we came to the aid of two Islamic countries (Kuwait and Saudi Arabia), and were willing to leave Iraq's government in place after the first Gulf War. Do we ever get credit for that? No.

[NoCalMike 0]

I am in a somewhat good position as to where I only need to fill-up once a week, and that will get me to Work/School Monday - Friday, and I will have about a quarter tank left for the weekend.

 

Now of course this will severly dampen any weekend plans as I do not in the least want to have to fill up my tank merely for a day's worth of driving.

[Guest Biggles]

Several things need to be done to delay the problem we have with oil.

 

First off America needs to stop producing cars/SUV's/Trucks with engines that hold stupid amounts of gas like 26 gallons. There are cars over there with 4.0 engine sizes, whereas in Britian our cars rarely go above the 2.1 mark. I think it's neccessary for the price of oil to go up in America because they consume more than anyone in the world (bar China, but there consumption isn't primarily the suto industry) so it's only fair that America pays more.

 

In Britian we pay about 90p per litre for petrol whuch roughly translates to about $5.80 per gallon US. So why should Britian which produces and uses more economy friendly cars, not to mention a much more efficent public transport system have to pay so much more for gas than the Americans.

 

There are two possible solutions, one is hybrid cars, which are actually only a partial solution as the cars only use electrical power in the first two gears (these gears consume the most gas) while not a perfect solution they are a great way to buy sometime until we can perfect what is widely regarded as the "solution" to this problem which is of course Hydrogen cars.

 

I believe they have actually started production on a model of these cars, Honda I think is the one to do it, but it'll take a good few years until Hydrogen fuel is considered mainstream which is why I believe hybrids to be very important as a short term answer.

 

To be honest th energy crisis will never end unless we finally crack cold fusion, for anyone unaware of this it is basically a way of generating energy through a reaction between different isotopes of Hydrogen. This would produce vast amounts of dirt cheap energy and would actually chnage the world as we know it. Well, here's hoping.

[UseTheSledgehammerUh 0]

$3.29 regular in Central Jersey today. Down 40 cents from 4 days ago.

[Guest]

Imagine that, 3.29 in Jersey, 2.89 in CA. Seems as if we have it cheap.

[Perfxion 0]

Gas is about $3.40 to $3.60 a gallon here in Stamford. But the price seems to be dropping as oil is selling at the rate it was before. The thing that makes it ok is if you think about it. If someone where to buy coffee/lattes/ect. from Starbucks, they are spending about $80 a gallon for it. So spending 26 dollars a fill up isn't that big of a deal.

 

Although I think the ceiling of this surge is about 75USD for crude. Anything more and enough bitching will force a drop in demand, even though US can support a demand of like 130USD for crude.

[Red Baron 0]

1.31 A litre here, which I think is 4.20 A Gallon with exchange if I'm correct.