Low Fuel Prices - there's an app for that

[nissangirl74]

FYI.........

With unrest still bubbling in the oil-producing Middle East, it's time for a reminder on how to save money when filling up--on where and how to get the cheapest gas prices.
These three iPhone apps let you report gas prices and share in the love from other drivers, so you'll spend less


Full Story:
http://www.thecarconnection.com/marty-b ... d+Blogs%29

[PEZi]

The region where there is unrest only supplies 2% of the world's oil. Proof that gas prices are, and always will be, a scam.

[hannibal]

Libya may produce 2% of the world's oil but the region (North Africa and SW Asia) produces about a third.

[breadbox]

look at how much we get from other places. I saw somewhere we get a ton of it from canada and south america too.

[Encryptshun]

http://www.eia.doe.gov/dnav/pet/pet_mov ... mbbl_a.htm

2009 annual imports of crude oil from Libya totaled approx 22 million barrels.

By comparison, annual imports of crude oil from Canada (same year) were 709 million barrels.

[hannibal]

^ I make those reports...

[TroubleBound]

Well now this thread has somehow made me like the government even less.

[C-Kwik]

http://www.eia.doe.gov/dnav/pet/pet_mov ... mbbl_a.htm

2009 annual imports of crude oil from Libya totaled approx 22 million barrels.

By comparison, annual imports of crude oil from Canada (same year) were 709 million barrels.

Problem is the demand for oil exists worldwide. You have to consider how they affect the global supply as the US has to compete to buy that oil with everyone else who also wants oil.

[Encryptshun]

More likely that the speculators and consortiums are actually causing the prices to fluctuate. The fact of the matter is that Libya is really only a major source of oil imporation to Europe, which means it's got a big share of a very low-consumption region. It's barely a player in the U.S. and China, the only two economies realistically big enough to impact the global market on that scale.

During the gas spike of 2007, there was constant debate over why the price of fuel was so high, with one side saying it was a combination of opportunistic price-gouging on the part of oil companies as well as human interferance in the market by futures trading, etc. and the other side saying it was purely because of global demand. Well if the latter had been true, then the price would not have gone down, since global production did not increase and then stay at those increased levels.

Same situation here: the price spikes are a result of opportunistic speculation and price-gouging. Nothing more.