How high is high - gas price related.

[rn79870]

This came from a thread in the Infiniti forum...Quote »The prices that we’re paying at the pump today are, I think, going to be ‘the good old days,’ because others who watch this very closely forecast that we’re going to be hitting $12 and $15 per gallon,” Hirsch said. “And then, after that, when oil – world oil production goes into decline, we’re going to talk about rationing. In other words, not only are we going to be paying high prices and have considerable economic problems, but in addition to that, we’re not going to be able to get the fuel when we want it.”[/quote]I wonder if they will have a 84 or 82 octane by then...

http://www.businessandmedia.or....aspx

[ArizonaG35]

Sorry Bob... I had to.



Dave

[Sentientbydesign]

Sorry Bob... I had to.



Dave

That thing looks like a dog d!ck.

Bob,

I hate you! Take this $#IT to your forum

But on a serious note, who the hell is getting really rich? I know it's not the stations, and it's probably not the delivery people either. So either the refineries or the crude oil owners are making a killing and I say we do it too

[Beancooker]

Oil giant makes corporate history by booking $11.7 billion in quarterly profit; earns $1,300 a second in 2007.

So that's who is making the money.

http://money.cnn.com/2008/02/0...nings/

[northshore]

I worked at QuikTrip until a few weeks ago and I found out we only marked up our gas 3-4 cents above cost. Apparently the company still makes close to 200-300 million in fuel alone though. Maybe even more.

[telcoman]

This came from a thread in the Infiniti forum...

I wonder if they will have a 84 or 82 octane by then...

http://www.businessandmedia.or....aspx

rn79870

A barrel of oil is a needed commodity by many countries of the world and as such is subject to the law of supply and demand. If Nissan only produced a small number of 6 speed coupes and many NICO members wanted one, the price would rise.Since demand for gasoline is rising not only from the United States but from other countrys such as India and China along with the value of the dollar declining, these factors are pushing up the price of gasoline. The oil companys themselves do not control the price of a barrel or oil from which gasoline is derived.The residents of United States will slowly begin changing their ways as gasoline prices continue to rise. Many here are too young to remember the long gas lines in the 1970's. I get a considerable amount of by my use of regular 87 octane in my G, but this is based on over 40 years of driving experience with many different vehicles. With close to 60k miles on my G, I have not experienced any noticable diminished performance. I commute 100 miles per day and I do not race.The octane rating in gasoline will probably not change. Our driving habits and consumption of gasoline probably will change? Sooner than most of us think.

Telcoman

[rmezz13]

Than how do you explain (i think its Venasuala -sp-) gas is like $0.17/gal....

Its not just the high demand, our own government allows the EPA to trump the decisions on building more refiners, up-dating refineries, and most importantly the EPA (environmental pu$$ies agency) won't let us dig for oil in Alaska where there is already a pipeline (incomplete) to transport the oil.... Its not the whole world and supply and demand like everyone thinks. There are places that drill and refine themselves or have updated/new refiners going up. We did this to ourselves.

I do have an idea which i am going to forward via email to everyone on my contact list..... Lets make hump day "No Pump Day". Every Wednesday of every week do not pump gas.... This will decrease the gas prices, not necessarily forcing the oil companies to lower the price, but it will save fuel throughout the country. Hopefully it does affect the oil companies forcing them to lower prices as well. I'm not an oil expert and probably no less than most about it, but as history shows, boycotts work very well.......

[Beancooker]

That doesn't work. What they lose in sales, they make up the very next day.

You'ld be better off trying to boycott one brand of gas, like Exxon/Moble. But I like my techron...

[Tampa G35 Sedan 6MT]

Don't you think that the diminishing dollar is what has also caused the cost of gas to go up.

Not to long ago i had an economics class and we talked about inflation. When the Fed cuts the rate this only prolongs the recession and then causes major inflation.

If our dollar was worth the same for as it was before x-mas.... then the oil would still be at 70-80 a barrel

DJ

[rn79870]

I have to agree with Tampa to the extent that the diminishing dollar ian't behind the $130+ oil. Oil went up 30% in what, 2 months. The dollar hasn't fallen 30% in that same time.

Although lawmakers don't vote on energy issues strictly along party lines, Democrats generally want to increase taxes on Big Oil and use the money to fund renewable energy research.

Republicans generally favor opening up the Alaska Wildlife Refuge, large parts of the Rocky Mountains, and areas off the east and west coast that have been closed to drilling since the 1970s following a public backlash after several big oil spills.

The parties are widely apart on the issues - a Republican effort to expand drilling recently failed in the Senate - and a compromise is not expected soon.

But both the Democrat and Republican proposals are long-term solutions that would have little impact on the nation's energy picture for several years, if not decades.

The above from a similar thread here.zerothread/338974

The bottom line is that the government can step in and begin the process of resolving the problem. If they wait, it's going to get worse before it gets better. People are already shunning SUV and other fuel inefficient vehicles, and eventually, 17/24 (the G) ratings are going to be seen as gas hogs.

[G_whizz]

I usually stay out of these discussions... but I read a report that the demand for oil vs supply has not changed at all. They are still producing the same xxx number of barrels that they have for the past 2 years. It's a farce and no matter how you word it or what report you are going to show me, in the end, we are all getting bent over and screwed. First by the oil companies who have record profits (equalling 36billion in the first quarter) and then by our governments who tax the hell out of it.

That is all..

[Slider4105]

Don't forget that Bush has been dumping more and more oil into our Strategic Oil Reserve......which we haven't ever touched....Currently it holds about 705 Billion barrels of oil. For some time now Bush has been stockpiling 70,000 barrels of oil a day. Figure once they run out the current purchase contract in the end of July thats 70,000 more barrels of oil released into the market, thus hopefully lowering prices some.

I'm a Rep and I even like Bush most of the time but he's def helping his oil buddies with all this and it's starting to get old.

[CYO44Baseball32]

First of all oil is over priced if looked at from a stock financial approach. Its a matter of time for the price breaks and crashes down to a more reasonable price. One of the reasons the price per barrel is so high is due to OPEC in the middle east. before the last few years each of the OPEC partners was cheating and selling oil below the agreed price, as of lately they have been all staying with the agreement and selling at a higher price.

[Sentientbydesign]

I'm going to start buying my gas from Mexico!!!

[abdoman]

Actually we have touched the strategic reserves - Clinton opened them up to lower gas prices back in the 90's. But that's changed recently - Bush has slowed down: http://www.msnbc.msn.com/id/24722062/

If you do a little research you will see that although the demand for oil has gone up, oil production has actually stayed pretty steady, causing the prices to go up. Some countries have seen a declining production (Mexico).

Venezuela does have very cheap fuel, but it's government subsidized. Chavez keeps it low to help keep control of the government. Venezuela is very oil rich and all of their reserves is now government controlled.

[rmezz13]

So we could be the same, the only thing is we the people control the government..... It seems to me that when it comes to the presidential race taking place right now, no one has said anything about lowering gas prices, or pushing to dig for oil, or at least getting more refineries and updating the current ones. All of that would save us money. I am republican when it comes to politics, being catholic and fully against abortion to all of my other conservative feelings, but if Hilary were to say she was going to lower prices of gas, she would have my vote.

[joe603]

Hilary doesn't have the balls to say that...lol I don't think it would be any better with her at the helm.

I just pray that 1. McCain doesn't die before election, and 2. his running mate isn't Lieberman...

[Jacko3]

First of all, there is no REAL oil shortage anywhere in the world. Oil Prices are being manipulated by several interested parties. The oil companies are not manipulating the prices, contrary to what Congress wants you to beleive. Oil companies are only reaping the profits of the unforeseen rise in oil prices.

Next, oil prices are tied to the value fo the dollar. No one is saying anything about this fact in Congress---Congress seams happy harrassing oil executives over nothing. Dollar value is falling or have stayed low because we are burning borrowed cash in Iraq. The problem with spending too much money outside the US or Europe is that control of the money supply can be a little difficult, thus, causing an over-supply of the dollar relative to other currencies, and hence, a fall in the dollar's value.

If the same amount of money was spent domestically, raising interest rates would have helped control inflation and thus the currency value.

As the value of the dollar rises, oil prices will go down, and commodity prices will also follow by going down. The other alternative is for the US to reduce oil consumption by as much as 20 % in the next 12 months (this is highly unlikely). Best we can achieve is perhaps 2 % - 4 %. The market knows this. So, the president, as much as his actions has partly led to this oil crisis, is still right about the fact that a sudden halt in filling up our Strategic Petroleum reserve (SPR) as demanded by Congress, will do little to reduce the price of oil.

Financial hedges are causing unnecessary speculation in the oil and commodity markets, which in turn leads to rising gas prices. Oil companies have nothing to do with this. Congress is being dishonest about the cause of risinig oil prices.

Demand in India and China adds to the price of the oil but not to the extent of raising prices above $90 per barrel.

Traders who deal in financial hedges have no incentive to stop speculating until the US starts to reduce its budget deficits and overall national debt. This is what traders are partly hedging against. In addition, many who lostbillions in the mortgage market are making up for those loses by pouring money into oil and commodity speculation.

So, the rise in oil prices is far more complicated than most people would care to understand.

So, in a way, there is an energy and commodity bubble waiting to burst. When that burst occurs, oil prices will fall, even further than anticipated as auto companies such as Nisssan would be in full swing of producing electric cars which will make the use and need for oil in everyday auto use, useless. So, don't be surprised if oil prices fall to between $60 - $70 per barrel in the next two years. China and India demand alone cannot keep oil prices as high as they are. We have to show leadership by moving away form the use of il as a primary source of energy.


Modified by Jacko3 at 3:22 PM 5/22/2008

[telcoman]

I am republican when it comes to politics, being catholic and fully against abortion to all of my other conservative feelings, but if Hilary were to say she was going to lower prices of gas, she would have my vote.

rmezz13

No disrespect to you but "conservative feelings" are what got us into the mess this country is currently in by the election of George Bush.

The election of the president of the United States should be who is best able to provide leadership. Bush was a failure in most things he was involved in prior to being elected president. He couldn't run an oil company and he couldn't run a baseball team nor could he improve the education system in Texas.There is a separation of church and state in our constitution for a very good reason that was clearly understood by our founding fathers. On the abortion question,the supreme court ruled. For those that do not agree no one forces you or any female to have one. That decision is best left to the female, her doctor and the father. No religion has the right to impose their beliefs on anyone else.

I don't agree with Hillarys position to lower gasoline prices but should she receive the nomination she has got my vote. She has experience to hopefully get us out of our present mess as well as us getting two very smart and capable leaders.If Obama gets the nomination he'll get my vote except he doesn't have as much experience but is also a very smart young man.

The Republicans have led us down a path of destruction with their misguided leadership and lies over WMD. Spending trillions of dollars we don't have in Irag while our infastructure falls apart is criminal in my opinion. The declining value of the dollar and rising commodity prices are a result.To sharply reduce gasoline demand double the current tax, impose a$1000,00 tax surcharge on inefficient vehicles getting less than 20MPG and things will change rapidly lowering demand along with the price of gasoline.

Ok I'm done! I feel better now!



Telcoman

[Sentientbydesign]

rmezz13

No disrespect to you but "conservative feelings" are what got us into the mess this country is currently in by the election of George Bush.

The election of the president of the United States should be who is best able to provide leadership. Bush was a failure in most things he was involved in prior to being elected president. He couldn't run an oil company and he couldn't run a baseball team nor could he improve the education system in Texas.

AMEN!!!

Quote »I don't agree with Hillarys position to lower gasoline prices but should she receive the nomination she has got my vote. She has experience to hopefully get us out of our present mess as well as us getting two very smart and capable leaders.If Obama gets the nomination he'll get my vote except he doesn't have as much experience but is also a very smart young man.[/quote]

Hillary scares me, but better to have her representing us than not right? I hate Obama. If he gets the office, I'm SERIOUSLY considering moving out of the country. Maybe I can move to a country that sells skylines and Beanor hahaha.

Quote »To sharply reduce gasoline demand double the current tax, impose a$1000,00 tax surcharge on inefficient vehicles getting less than 20MPG and things will change rapidly lowering demand along with the price of gasoline.[/quote]First off, you're mean!!! Stop trying to make us all use "low quality oil products" and save so we can afford gas when your plan goes into action

Secondly, there are already surcharges on innefficient vehicles. The Challenger is a perfect example. There is a $2100 gas-guzzler tax on the SRT-8 version. Granted, that's not accounting for all the other cars in between it's 13 MPG city and the 20 MPG you're purposing, but if that was the case, we all would have paid more for our Gs

[Slavik]

no disrespect, but because of people like you, who eat up up all of that propaganda crap, two dipsh_ts like clinton and obama actualy have a chance to run our country ...

[Sentientbydesign]

no disrespect, but because of people like you, who eat up up all of that propaganda crap, two dipsh_ts like clinton and obama actualy have a chance to run our country ...

Hopefully I don't step on our Mods toes when I say, this really belongs in the politics forum. I think one of the stickies in this sub-forum specifically prohibits this kind of discussion for good reason.

[Omegamerc]

I don't think our per/gallon prices will ever surpass Euro prices, def not 15$/gallon, not even 10$/gallon, that would bring everything to a very literal grinding halt, OR cause some insane inflation comparable to some African nation deal... at best I think we will catch up and coast with Euro nations. I never understood why we always payed 3x less then everyone else...