Gas Prices

[Vistataco]

Gas has gone up .50 cents here in Phoenix over the last two weeks, .19 in the last 5 days!

During this time a barrel has gone down 10.00!

I agree they have a right to profit, is 18 BILLION per quarter reasonable?

They are robbing us, if I have a commodity that is needed and I gouge that is wrong.

Today 4.018
Yesterday 4.010
One Week Ago 3.874
One Month Ago 3.410
One Year Ago 3.035

Phoenix Gas Prices - Find Cheap Gas Prices in Arizona

The other big issue is the USD slipped against the Euro again after the European Central Bank said it might raise intrest rates to fight inflation. YAY!!! Here we go again. Another $20 jump per barrel!

 

[94landcruiser]

I still see this everytime I go on a run....

Why is the baby slacking???

 

[splitshot]

Gas has gone up .50 cents here in Phoenix over the last two weeks, .19 in the last 5 days!

During this time a barrel has gone down 10.00!

I agree they have a right to profit, is 18 BILLION per quarter reasonable?

They are robbing us, if I have a commodity that is needed and I gouge that is wrong.

Today 4.018
Yesterday 4.010
One Week Ago 3.874
One Month Ago 3.410
One Year Ago 3.035

Phoenix Gas Prices - Find Cheap Gas Prices in Arizona

I wonder why Tucson is running lower, I just paid $3.749 this morning.

 

[Dan2722]

I surfed yesterday in La Jolla and drove by a station that is usually lower then others and it was at $4.54

I have cut my trips for the summer to save for a Sept. Baja trip and a rear bumper. Hopefully prices will have come down a little by then but I am not holding my breath.

I read an interesting article today that said that 1/2 the countries in the world subsidize oil to their citizens so that when oil prices go up gas at the pump does not. This is a big contributing factor for why demand has not gone down by much worlwide and prices continue to go up.

 

[rfjtoy]

I still see this everytime I go on a run....

If that's the case, why come back?

Also 1/4 tank a day, daily driver. Problem is a SMART car is 11k with a 1.5 year wait, friend ordered one the other day.

BEER is now cheaper than GAS, time to stop driving and start drinking!

 

[Ulyses]

[QUOTE

BEER is now cheaper than GAS, time to stop driving and start drinking![/QUOTE]

I second that motion

 

[mkfour]

I read an interesting article today that said that 1/2 the countries in the world subsidize oil to their citizens so that when oil prices go up gas at the pump does not.

Oil producing countries subsidize oil to their respective country. Most of these countries sell gasoline for under a dollar. They're still making a profit, but not as much if they put it on the world market.

It's strange because U.S. oil companies are pretty much the leaders in the oil industry and have a hand or % in most oil fields. But you don't see much of a subsidy for us, primarily because we're the biggest consumers.

 

[splitshot]

[QUOTE

BEER is now cheaper than GAS, time to stop driving and start drinking!

I second that motion [/quote]

You need not say any more!

Now, if only we could figure out how to burn it after it's been processed (if you know what I mean).

 

[mkfour]

It's weird how the average Joe knows so little about oil. Maybe the news is to blame. But here is some food for thought.

- The U.S. does not import heavily from the Middle East.

- Canada is #1 in respect to proven reserves.

- Canada is the #1 exporter of oil to the U.S.

- The world is not running out of oil (not in my lifetime) but we simply cannot pump it out as fast as we're consuming it.

- The dollar is pegged to oil

- Futures and forwards in the oil commodities is a factor in rising prices.

- Gasoline prices and the U.S. economy share close ties.

- We all probably know only a fraction of what's really going on.

 

[e9999]

What are you talking about?? I can choose a 25 cent can of soda over a buck 50 can. In fact, I can choose not to buy soda at all.

Everyone needs fuel of one type or another and oil companies can charge whatever they want because we WILL BUY IT.

so?

you can choose not to buy gas at all.

Semi-free country, still....

 

[94landcruiser]

so?

you can choose not to buy gas at all.

Semi-free country, still....

I am sorry but that is silly. It is very difficult to get around efficiently (on the west side of the country) without a car.

 

[83bj60]

What are you talking about?? I can choose a 25 cent can of soda over a buck 50 can. In fact, I can choose not to buy soda at all.

Everyone needs fuel of one type or another and oil companies can charge whatever they want because we WILL BUY IT.

Right On!! But I think e9999 was just stating this as a fact.

Everybody is hurting, those in the lower income bracket even more so.

Something will have to give, for sure. Recession is a poor word to describe what we are facing for the future.

 

[Vistataco]

- Canada is the #1 exporter of oil in the world. They are also the #1 in respect to proven reserves.

- Canada is the #1 exporter of oil to the U.S.

Funny...I was just reading an article in Time about the "oil sands" of Northern Alberta about an hour ago. I was not aware they were producing so much oil. Looks like they intend to increase production a lot in the coming years.

 

[mkfour]

Funny...I was just reading an article in Time about the "oil sands" of Northern Alberta about an hour ago. I was not aware they were producing so much oil. Looks like they intend to increase production a lot in the coming years.

I believe Saudi Arabia is #1 in proven reserves and Canada is #2, but from what I've read or heard, there's some questionable methods as to how the Saudi's arrived at their figures. A country that pumps the most BBL per day and the country that has the greatest reserves yields a considerable amount of power, so I could see how they would fudge those numbers.

Something that is real interesting is that if the Saudi's reserves aren't what they say they are, then they will be de-throned as a very powerful country due to their oil. Since the U.S. has very close ties to the Saudi's, what the U.S. wants and what the Saudi's says goes. They say they will sell their oil with the dollar (pegging oil-dollar), but if someone else takes over #1, this can and will most likely change. This will dramatically effect the dollar, as the euro will take its place. The dollar is already dropping and if the euro is pegged to oil, the dollar will no longer be a standard.

Some countries have already been selling their oil with the euro, i.e. Iraq. We saw what happened to them. Venezuela has also speculated selling their oil in euros, and the U.S. government has tried to overthrow Chavez more than once.

Russia I believe is the #2 exporter, if Saudi production drops below that of Russia's, I almost guarantee that Russia will demand that they receive euros for their oil. Imagine a futures contract where a BBL of oil is bought at $100 per. Well when that contract comes up, the recipient will get a depreciated dollar. That loss, although just a fraction of the dollar, maybe 0.01% comes out to a loss of 10 million dollars.

 

[Slomo]

BEER is now cheaper than GAS, time to stop driving and start drinking!

Now who can argue with that?

It's strange because U.S. oil companies are pretty much the leaders in the oil industry and have a hand or % in most oil fields. But you don't see much of a subsidy for us, primarily because we're the biggest consumers.

The key is we have a percent, but our oil fields don't even come close to meeting our demand as you mentioned becuase we are indeed the biggest consumers. If we don't control the majority all our percentages don't mean s***. As we have seen lately we can't just ask for more when we need it let alone get more for subsities.

Then you add the tree huggers to that and the whole "we can't drill for oil in Alaska, but we need to be less dependent on foriegn oil" crap and we are pretty much grabbing our ankles and holding on for dear life.

- Canada is #1 in respect to proven reserves.

True but thier reserves are in oil sand. They have enough to supply the US at it's current demand for the next 100 years but it is more costly to refine than the typical underground oil field where you can just pump it up and refine it. Once our gas prices get to the level that Europe currently pays and stays there (probably won't be long) then it will be worthwile to retrieve the oil sand reserves in Canada on a mass scale. Hopefully we will continue to embrace the smaller more practical vehicle and smaller diesel vehicles like the Europeans have to help reduce our dependency.

- Canada is the #1 exporter of oil to the U.S.

If that is the case then why didn't Bush ask Canada instead of embarassing himself and our country by asking the Saudis to produce more oil only to have them blow him off saying they already had. Canada is alot closer and not under nearly the same pressure to hate the United States as any country in the middle east.

- We all probably know only a fraction of what's really going on.

I couldn't agree more.

 

[e9999]

oil from tar sands is produced at something like $50/barrel or so (forgot the exact number), but anyway way cheaper than current oil prices so certainly worth doing $$ wise. Some problems, though, like water use and others.

 

[e9999]

I am sorry but that is silly. It is very difficult to get around efficiently (on the west side of the country) without a car.

so, then, the fact that they are selling something that is so important and useful to you that you can't live without it makes them the bad guys?

Oh, no, wait... since some want it bad, maybe they should give it away for free...? Oh, heck, same with food, health care etc?

 

[Slomo]

The dollar is already dropping and if the euro is pegged to oil, the dollar will no longer be a standard.

Agree that is very possible but, the fact that the feds keep cutting the interest rate to try and save all the over zealous home buyers (puting it mildly) sure doesn't help the dollar's value.

Venezuela has also speculated selling their oil in euros, and the U.S. government has tried to overthrow Chavez more than once.

Chaves's effort to sell their oil in euros could likely be attributed to his hatred of the United States and desire to destabilize the dollar and therby our economy let alone save some money. Obviously there is no love lost between Chavez and the US.

He wouldn't even be a bip on the radar if it weren't for his country's oil reserves.

 

[yotawheeler]

you know....as bad as you guys think you got it down there....gas is 1.39 or better and i think my dad said diesel is 1.47 per LITER, im not doing the math but 1.39x3.8 liters per US gallon...is fricken robbery considering canada has the second largest oil deposit in the world (IIRC)...

just thought i would chime in as well...seeing as my FJ40 is restricted to VERY limited driving weekends and wheeling only because of the stupid expensive gas prices...thankfully i have everything from logging roads to hardcore trails no more than 1 hr from my place and im on the trail...15 min on a paved road...the rest is logging roads with trails branching off left, right and center

oh yea...and the whole use less gas thing....i have to drive about 100KM a day (60 miles) to get to school and back where im at...theres no busses and no trains...for some people public transit and just driving less isnt an option.

and now that...thats sig material right there
Quote:
Originally Posted by rfjtoy
BEER is now cheaper than GAS, time to stop driving and start drinking!

 

[Slomo]

oil from tar sands is produced at something like $50/barrel or so (forgot the exact number), but anyway way cheaper than current oil prices so certainly worth doing $$ wise. Some problems, though, like water use and others.

Very good point. Near as I can tell the cost is down to about $10 a barrel (quick internet search) but as you mentioned the process requires alot of water and is much more complex, even if cheaper. I think the complexity, water requirement, and other factors that have been keeping oil companies from going full bore with oil sand production will be offset by the fact that traditional oil production/supply will see a new high in cost and stay at a level that was not previously predicted. I think they figured it would not get out of hand so there was no use going the extent neccessary to get the oil sand.