MarvinisaLunatic Posted July 17, 2008 Report Posted July 17, 2008 Any doubts the price of oil wouldnt go through the floor (at least sub $100 again) if we started drilling for our own oil just went out the window. Yes, that would be nice. Now if only the oil companies would actually drill on any of the large expanses of untouched, undrilled land they have. Just because they have the rights to the land doesnt mean they have the drilling rights or the production rights to actually pump the oil out of the ground.
snuffbox Posted July 17, 2008 Report Posted July 17, 2008 I wonder where you got that dumbass canard.
EVIL~! alkeiper Posted July 17, 2008 Report Posted July 17, 2008 http://money.cnn.com/2008/07/16/markets/oi...sion=2008071615 Oil is down $10 a barrel the last two days. It's all better now! I'll take a positive over a negative any day of the week.
snuffbox Posted July 17, 2008 Report Posted July 17, 2008 Too bad the price of gas went up. Just like the last time you posted something about the price of oil barrels going down.
MarvinisaLunatic Posted July 17, 2008 Report Posted July 17, 2008 We're drilling in ANWR! *CELEBRATES* ... oh wait..its the Environmentalists who are drilling for ice samples to test the effects of GOLBAL WARMING on ICE. *head explodes*
snuffbox Posted July 17, 2008 Report Posted July 17, 2008 I think it's perfectly in character for the "conservative" Glen Beck to be so infatuated with the oil companies. An industry that receives bountiful subsides from the taxpayer.
MarvinisaLunatic Posted July 17, 2008 Report Posted July 17, 2008 I think it's perfectly in character for the "conservative" Glen Beck to be so infatuated with the oil companies. An industry that receives bountiful subsides from the taxpayer. The government is making more money per gallon than the oil companies. Oil Companies make 8 cents per gallon on average, whereas the federal tax on gas is 18.5 cents and you have states like California that tack on an additional 50+cents per gallon for state and local taxes. Then the federal government gets about 40% of the profits that the oil companies make back in taxes as well..so um..yeah
EricMM Posted July 17, 2008 Report Posted July 17, 2008 Oh my god oh my god Marvin back that up or shut the fuck up. Are you talking about profits from gasoline sales now?
SuperJerk Posted July 19, 2008 Report Posted July 19, 2008 3 questions for Marvin: Why do you think gasoline prices have risen so much in the last few years? How much would the average person save if the federal gas tax were repealed? What effect have gas prices had on demand for gas?
Red Baron Posted July 19, 2008 Report Posted July 19, 2008 War on Iraq, The Weak American Dollar, Other nations hating your guts. But I'm sure you allready knew this. Edit: And I'll let Marvin answer the next two questions.
tekcop Posted July 20, 2008 Report Posted July 20, 2008 I used to drive a minivan! I didn't have to worry about air conditioning using up gas because the air conditioning system was broken! I had to manually roll the windows down with a crank! I think it leaked transmission fluid! I currently drive a Cavilier just like that. We dont make anything in America anymore, didn't you hear? I make industrial-sized generators. The vast majority of them are exported.
MarvinisaLunatic Posted July 23, 2008 Report Posted July 23, 2008 3 questions for Marvin: Why do you think gasoline prices have risen so much in the last few years? How much would the average person save if the federal gas tax were repealed? What effect have gas prices had on demand for gas? 1) Probably the biggest is the devaluation of the dollar vs the Euro especially. You also have increasing foreign demand, environmental regulations requiring many different formulations of gas depending on the region and season, declining domestic oil production (down 50% since 1970), oil sources becoming more expensive to find and drill and the middle east being a hotbed of trouble putting the supply of oil in jeopardy. 2)Repealing the gas tax works out to $60 billion collectively or about $30 for the average person over the course of the summer. I think I did the math for myself and found out Id probably save a whopping $10. Some people might save more, but only because they use more so any extra they save is lost in paying more for gas. The problem is that the gas tax funds road construction and eliminating that at a time when costs for roads are enormous due to the costs of materials used rising is quite stupid. 3)I do believe I read that demand in the US is down 2.2% since January 1, and 3.3% from 1 year ago. Interestingly enough, the reports that there was an additional 800,000 barrels of oil available due to decreased demand sent the price of oil down last week. Oil is back to $125 a barrel now, which isnt suprising given the news on demand alongside the increase in support of more domestic drilling and Bush lifting the continental shelf drilling ban. If there are prospects of more oil coming from anywhere outside of the Middle East, even if it takes 10 YEARS!!!, it will still reduce the price now. Of course, the issue is that if we keep reducing the price of oil back to a level where gas isn't as expensive, people will likely stop conserving and demand will go up. The inevitable result from a government that doesnt want to see that happen (if they cant stop domestic drilling) is that they'll raise the gas tax to keep the price of gas at the current level...just watch.
Guest Smues Posted July 23, 2008 Report Posted July 23, 2008 I know that prices at the pump don't drop right away when the cost of oil does, nor do I expect it to, but oil has dropped like $20 in the last two weeks, and yet it has sat at $4.44 a gallon here. It should at least be dropping a few cents.
MarvinisaLunatic Posted July 23, 2008 Report Posted July 23, 2008 I paid $3.85 today at a Shell station (had to start using my $75 gas card). I never saw gas over $4 in MD, but up in Delaware I saw a few places that were over $4 slightly, but everyone is back down in the $3.90's or below now.
Dobbs 3K Posted July 24, 2008 Report Posted July 24, 2008 It's 3.49 here in OKC. I envy you. I paid $3.99 yesterday.
AntiLeaf33 Posted July 24, 2008 Report Posted July 24, 2008 dropped about 10 cents a litre here in St. John's today bringing it to about $1.39 or so
Guest Smues Posted July 24, 2008 Report Posted July 24, 2008 I've seen it at $4.42 in some places, but still $4.44 at the place I fill up. At least I still save a dollar on a carwash when I buy it with a fillup!
MarvinisaLunatic Posted July 25, 2008 Report Posted July 25, 2008 Went to the Os game today, and on the way home the first Shell station on the Eastern Shore past the Bay Bridge was $3.77 in concjunction with 5 cent off Thursdays. I again only needed 6 gallons but I couldnt pass up about 13 cents cheaper than back home.
Perfxion Posted July 25, 2008 Report Posted July 25, 2008 I filled up Sunday at 3.92 a gallon. Today same Shell is now 3.77 a gallon. And prices seem to be dropping. They still have another 1.77 to drop before I start to use the term "reasonable level".
JJMc Posted July 27, 2008 Author Report Posted July 27, 2008 $3.99 at most places. The lowest I've seen is $3.79 in NH.
fazzle Posted July 27, 2008 Report Posted July 27, 2008 Was down in SC today for wrestling, paid *$3.63* for gas. Was ecstatic to see that. That's about 30 cents cheaper than it is here in Wilmington.
Guest Vitamin X Posted July 27, 2008 Report Posted July 27, 2008 I filled up Sunday at 3.92 a gallon. Today same Shell is now 3.77 a gallon. And prices seem to be dropping. They still have another 1.77 to drop before I start to use the term "reasonable level". This. I stopped driving nearly a year ago now, and driving full-time nearly two years ago. When I ditched the car last year, it was still under $3/gallon, and the year before it was hovering around the $2.30s. I can't believe people have gotten to the point where they're "excited" to see it at $3.63/gallon. In about five years time, we're going to have people totally stoked to see it down to $6.53 or something. Just providing a bit of perspective here.
Perfxion Posted July 27, 2008 Report Posted July 27, 2008 In the tax heavy state of CT, 6 years ago it was a $1.14 a gallon. Houston at the time was 89 cents a gallon. Since then gas has gone up 100 dollars a barrel, and it seem to start around the time of the Iraq war. Not saying that Bush is at fault, but it seems odd that invading an OPEC nation that the rest of the OPEC leaders would start rising the price really fast. And it seems it goes up a buck every summer and yet down only 25 to 50 cents for people to think "reasonable level" again. I remember when gas hit 2.25 and everyone was shitting a brick. It went under 1.89 for a few weeks and everyone was happy. It goes to 2.60 a gallon and everyone is mad, drops to 2.00 all together and everyone is happy. People only think about the current trend, not what has happened over the course of Bush's two terms.
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