Oil Prices Set New record Again Today

[Brett]

This morning oil prices set a new record of $130 a barrel and now I look and they are just under $134 ($4.00+ rise just today). There has to be a point where it is going to stop and level out and not raise this much so quick. The senate today was saying prices in todays time with todays world demand should still be between the $60-$70 a barrell range. It has gone up literally in a few weeks $15 a barrell. When is it enough?

[Nemesis]

****ing people man, I swear. I drove by a place that was 4.00 a gallon for me yesterday and now its 4.10

[thepolecat]

I cant afford to drive to work- this is where it is hurting the economy- everyone is going broke just trying to get to work.

Bush doesnt care- he is on his way out

[Nemesis]

I cant afford to drive to work- this is where it is hurting the economy- everyone is going broke just trying to get to work.

Bush doesnt care- he is on his way out

Yeah I couldn't imagine commuting like I used to. Moving close to work was a good choice. Hell I have to move again maybe this Fall, and Im looking at an apartment within walking distance from work.

[Ran]

Hooray for money grubbers making life difficult for everyone!

[blackboi50]

imma learn spanish and move to venezuela!!!!!.......pcc homies :).....1

[thepolecat]

I own a house so I am kinda tied down to that and I am a teacher so there is not much hope of telecommuting. I cant really move closer because all the houses I'd live in are way out my price range.


Yeah I couldn't imagine commuting like I used to. Moving close to work was a good choice. Hell I have to move again maybe this Fall, and Im looking at an apartment within walking distance from work.

[Pher]

The joy of a honda. If I'm dogging it the mileage drops horribly but in my near weekly trips to Alabama and back, I average about 32mpg and thats while running 4200 rpm the entire way! There is a gas station in Auburn that I pass and fill up at on every trip, was 3.72 for premium 2 days ago!

[Spektrewing386]

good news? oil stocks rose 3.5 points.

I wonder what would happen if oil companies were not allowed to be public?

[Jecht]

This still hasn't hit me hard - I've had no trouble getting 35mpg in the Miata.

[DJ Maestro]

There are no supply and demand issues driving the oil prices up so what is the cause? I think it boils down to good old fashioned greed from the oil and gas companies. They know that this nation needs the oil and gas no matter the cost and in turn they get to see record profits. It sucks, sucks bad. :no:

[Spektrewing386]

There are no supply and demand issues driving the oil prices up so what is the cause? I think it boils down to good old fashioned greed from the oil and gas companies. They know that this nation needs the oil and gas no matter the cost and in turn they get to see record profits. It sucks, sucks bad. :no:


its true, i touched upon that issue in a previous thread where I showed specific pages and graphs from the annual exxon mobil shareholder meeting.

[civic95]

It will only stop when people stop buying the oil (gas).










Don't hold your breath.

[SOHC MONSTER]

I (the company I work for) paid 4.89 for deisel yesterday for my work truck. Even though its not my money (fleet gas card) I still watch out for the company for who knows, Some of us may be out of a job who drive gas guzzling company vehicles.

[Kaiser]

The government doesn't have anything to do with the price of gas or oil. In fact, if they did it would be higher. Implementing new taxes on the oil companies will just cause them to keep working to raise prices higher, knowing they can make more money out of it.

The problem with gas and oil is that it's a nearly fixed-demand product. We have to have it one way or another, if we all rode the bus, the buses would still need to run on something and have something in their engine and have plastic parts, etc. There's no competition for oil or gas right now, and the people who are setting the prices are in collusion with each other to keep the price of petroleum on the rise. There's no point in talking about Oil posting a new record today, because it posted a new record yesterday too. People are investing in the oil companies and are commodity trading for oil shares. The reason why the price of oil is so high is the basic idea behind how it's price is set. The commodity market setting the prices by shares means that when you have a situation like right now, where the shares are all bought up, people are selling their futures and oil shares for more and more each day. Because the futures are going up, so, essentially, is the price of oil. It's not based on anything physical, but works more like a stock market. The madness will stop soon...The housing bubble started collapsing and people jumped ship to the oil futures bubble. It'll collapse eventually, and send the price of oil, and possibly a good chunk of the economy, with it.

[EmminoDaGreat]

Tuning your turbo honda to get 40-50 mpg. sweet. :P btw we can tune for gas mileage here too people lol.

[0p7!mu5]

or jsut but a scooter im so considering getting a honda ruckus

[dohc4.6sc]

serious question, does anyone know how much gas stations pay per gallon? i would just like to know the mark up.

[slostang]

serious question, does anyone know how much gas stations pay per gallon? i would just like to know the mark up.


serously I think its only like a one or two cent mark up.

[Catnip]

This still hasn't hit me hard - I've had no trouble getting 35mpg in the Miata.

It might not be a large amount, but it's still double the amount it was not too long ago.
It's ridiculous, maybe some price ceilings need to be here. (I actually learned something in class...?)

[Evil Goat]

boo ****ing hoo....call me when your car practically pings on 89, and your forced to buy premium and only get 15-16mpg....this **** hurts and ive just about had enough of it, im a car guy at heart, i dont believe in dd's and parking your car in a garage to collect dust, i drive my car every single day, but this **** has seriously got me thinking about getting another honda and parking my gto for the summer, who the **** can afford $4+ gas prices without a cost of living raise? i mean holy ****, ive become the top stockholder in KY b/c im taking it in the ass everyday from opec....i now know what it feels like to be helpless...to know theres nothing you can do about something and that it will just continue to be a pita....kind of a scary thing, i mean if they raised gas to $300/barrell tomorrow we would still have no choice but to pay the bull**** prices...**** opec and the platinum clad horse they rode in on

[Catnip]

If I were to drive my car hard, I'd be getting 16mpg and I HAVE to run premium. Not to mention I'm 'bout to have a cammed 350 camaro.

But hey, I'm no stranger to 20 mile bike rides. Honestly, if gas spiked like that, I'd be pissed the hell off, but I could manage.

[Got Milk?]

I have been paying for my gas 4.19 for past 4 weeks. So idk what ur talking about prices just hitting 4.

[ksniperfox]

serious question, does anyone know how much gas stations pay per gallon? i would just like to know the mark up.


trust me, it isnt much of a mark up. at mine, we just try to break even, or sell below our cost just to beat the competition. QT ftw.

[man]

Bush doesnt care- he is on his way out

A tad ignorant, aren't we... maybe you should learn a few things about politics before you bring them to the table.

[On_Her_Face]

**** it, i'm selling the vette for a smart car and four years of free gas.

[TIGERJC]

A tad ignorant, aren't we... maybe you should learn a few things about politics before you bring them to the table.
so you're telling me that politicians are safe from the blame, remember gas prices started going up since 2000. If our politicians were smart, they would have been investing in alternative fuels especially after 9/11. Even back then economists and tree huggers brought up that the U.S. was too dependent on foreign oil, and with the growing tension in the middle east this could come back to hurt us (guess they were right). If the country would have at least diverted 1% from military spending to the research of alternative fuels this country would have solved the fuel problem back in 2005. It is sad to see that the U.S. is spending 1 billion just on freaking embassy in IRAQ, but couldn't spend that same amount on alternative fuel research

[tony]

I tend to wonder if they teach economics in school any more. There are a couple of factors as to why gas prices are rising and I wont say greed is at the center.

Let me just explain it this way, if oil reserves are held in dollars and the value of the dollar is dropping then prices are going to rise to maintain profits, we are seeing the consequences of inflation grouped with higher demand across the globe.

TIGERJC is exactly right, the $600 Billion spent on the Iraq war has contributed to the drop in the value of the dollar. We're fighting the war on terror all while funding it at the same time and neglecting a crisis right here at home.

Investing in infrastructure for energy independence will help strengthen the dollar as well as lower our dependency. Diesel engines can be converted to run off of biodiesel which can be produced from waste but the EPA has not made this legal.. oh yeah its emissions neutral. Ethanol can be imported from Brazil until we are able to install our own infrastucture to maintain ourselves. I could go on and on about our options and personally I dont think any of the current presidential candidates get it.

[Kevykev]

I tend to wonder if they teach economics in school any more. There are a couple of factors as to why gas prices are rising and I wont say greed is at the center.

Let me just explain it this way, if oil reserves are held in dollars and the value of the dollar is dropping then prices are going to rise to maintain profits, we are seeing the consequences of inflation grouped with higher demand across the globe.

TIGERJC is exactly right, the $600 Billion spent on the Iraq war has contributed to the drop in the value of the dollar. We're fighting the war on terror all while funding it at the same time and neglecting a crisis right here at home.

Investing in infrastructure for energy independence will help strengthen the dollar as well as lower our dependency. Diesel engines can be converted to run off of biodiesel which can be produced from waste but the EPA has not made this legal.. oh yeah its emissions neutral. Ethanol can be imported from Brazil until we are able to install our own infrastucture to maintain ourselves. I could go on and on about our options and personally I dont think any of the current presidential candidates get it.

Good information! In addition to that, when you read paragraph number 4, you must revert to paragraph number 1 for closing. :no: then say greed IS at the center.

[Brett]

Well its now $135 a barrell this morning :eek:

[ChnkyLao]

god damnit i think i might make more money working at mcdonalds now just cause its only a 2 mile trip, while my current job is a 40 mile trip back and forth,

[ironchef]

One of the biggest issues aside from the value of the dollar is the environmentalists =\. Because of them and their lobbying efforts, things like Nuclear power plants take a long time to start up. Theres a lot of government bs, paperwork, and time to go through before any progress can be made. Imagine how much better off this country would be if it was fully nuclear/hydroelectrically powered.

[AnthonyF]

so I feel like letting some1 steal my car...anyone up for it?

-Ant.

[DJ Maestro]

so I feel like letting some1 steal my car...anyone up for it?

-Ant.

Nah, not worth the gas cost. :lmfao:

[Brett]

so I feel like letting some1 steal my car...anyone up for it?

-Ant.

Would you pay my gas to get to your car? :lmfao:

[Ran]

so I feel like letting some1 steal my car...anyone up for it?

-Ant.Get a buddy to steal your car and light it on fire. File insurance and pray you don't get busted for Fraud. :ninja:

In the meantime, gimme yo bumper and fenders. :D

[AnthonyF]

Nah, not worth the gas cost. :lmfao:DAMN IT!

Would you pay my gas to get to your car? :lmfao:Hell yea, what chu got? 9gal tank?


Get a buddy to steal your car and light it on fire. File insurance and pray you don't get busted for Fraud. :ninja:

In the meantime, gimme yo bumper and fenders. :D

Fenders? One of mine has a dent in it. :'( I've been meaning to get it replaced but its on the lift right now getting more work. lol. it never ends!

-Ant.

[Ran]

DAMN IT!
Hell yea, what chu got? 9gal tank?



Fenders? One of mine has a dent in it. :'( I've been meaning to get it replaced but its on the lift right now getting more work. lol. it never ends!

-Ant.Yeah, I want to get the GT badges off my fenders. I'm trying to find someone with a badgeless set that'll trade.

[tony]

One of the biggest issues aside from the value of the dollar is the environmentalists =\. Because of them and their lobbying efforts, things like Nuclear power plants take a long time to start up. Theres a lot of government bs, paperwork, and time to go through before any progress can be made. Imagine how much better off this country would be if it was fully nuclear/hydroelectrically powered.

That was going to be the next part of my rant but I figured I took it too far as is.. I feel bad stating all of this and not doing anything about it cause honestly I'm tired of sitting on my ass posting about this crap.

Anyone have ideas what can be done on a local level? I thought about purchasing an old mercedes turbo diesel and converting it to use SVO (Straight Vegetable Oil, its the stuff restaurants throw out) start with that model and run with it as resources become more readily available.

[TIGERJC]

I don't believe the environmentalist are to blame, drilling in Alaska is a short term fixer and I don't believe the u.s. should drill up there until they put a real effort into finding a clean energy source and/or a renewable energy source. so until the u.s. actually spends money on that research I will still support those tree huggers

[Alan®]

I don't believe the environmentalist are to blame, drilling in Alaska is a short term fixer and I don't believe the u.s. should drill up there until they put a real effort into finding a clean energy source and/or a renewable energy source. so until the u.s. actually spends money on that research I will still support those tree huggers
So you're telling me that environmentalists stopping drilling of KNOWN sources of oil which would create a drop in the price of gas shouldn't be blamed even a little bit? Yes we should be looking for alternative sources of fuel but your telling me that because the government isn't looking for an alternative source of energy to your satisfaction that a small group of people should be allowed to continue keeping the supply of oil down and the prices up causing more ecconomic burden in an already bad ecconomy? That is probably one of the more ridiculous things I have ever seen you post.

[TIGERJC]

So you're telling me that environmentalists stopping drilling of KNOWN sources of oil which would create a drop in the price of gas shouldn't be blamed even a little bit? Yes we should be looking for alternative sources of fuel but your telling me that because the government isn't looking for an alternative source of energy to your satisfaction that a small group of people should be allowed to continue keeping the supply of oil down and the prices up causing more ecconomic burden in an already bad ecconomy? That is probably one of the more ridiculous things I have ever seen you post.
Ridiculous??? Did u read what I wrote, until the gov't actually spend money on alternative research, I will not support drilling in Alaska. Thats not asking a lot, just put a small amount of money in a program that could actually do this world some good and you will have my support to drill up there until the alternative fuel source is able to be produced. If drilling starts up there with no real planning when it comes to long term energy plans, we will be back in the same situation down the road when the rest of the world becomes more developed

[Alan®]

Ridiculous??? Did u read what I wrote, until the gov't actually spend money on alternative research, I will not support drilling in Alaska. Thats not asking a lot, just put a small amount of money in a program that could actually do this world some good and you will have my support to drill up there until the alternative fuel source is able to be produced. If drilling starts up there with no real planning when it comes to long term energy plans, we will be back in the same situation down the road when the rest of the world becomes more developed
Yes I read what you wrote but you know what I highly doubt that the government will find an effective, efficient, and cost effective new energy source. $20 says that the private sector finds it.

[tony]

I don't believe the environmentalist are to blame, drilling in Alaska is a short term fixer and I don't believe the u.s. should drill up there until they put a real effort into finding a clean energy source and/or a renewable energy source. so until the u.s. actually spends money on that research I will still support those tree huggers

We wouldn't see the results of drilling in ANWR for say.. at least 10 years, it is not a short term fix by any means.

I take it a bit personal since I grew up in Alaska.. its one of the few places that is untapped and far from industrialized and I think it should remain that way. (For now) Then you got **** that happened like the Exxon Oil Spill and that only validates the points that environmentalists make.

[TIGERJC]

Yes I read what you wrote but you know what I highly doubt that the government will find an effective, efficient, and cost effective new energy source. $20 says that the private sector finds it.
with money anything can be reached

The U.S. could put a shi.t load of solar panels out in the dessert (said by many) and that method alone will do a lot of good for energy prices. But will have to rebuild our already failing electricity infrastructure across the u.s.

[.blank cd]

Theres is almost no profit margin in gasoline for the stations. thats why we're so focused on getting you inside and buying stuff

[TIGERJC]

We wouldn't see the results of drilling in ANWR for say.. at least 10 years, it is not a short term fix by any means.

I take it a bit personal since I grew up in Alaska.. its one of the few places that is untapped and far from industrialized and I think it should remain that way. (For now) Then you got **** that happened like the Exxon Oil Spill and that only validates the points that environmentalists make.
I understand this, but it will ease ppl minds like redgt that the country finally drilled up there.

[TheDarkRacer]

**** Alaska, Gulf Of Mexico :ninja:
~TDR

[tony]

I understand this, but it will ease ppl minds like redgt that the country finally drilled up there.

If it ever happens I suggest anyone who wants to make a quick buck will need to move to Alaska. $40 an hour would probably be average wages for that industry not to mention Alaska pays its residents a dividend based on state revenues.. with that kind of investment you would see a very nice check every september just by being a resident.

Its not going happen though (especially with a democratic president coming and a 70% majority in the house and senate) and it would be a waste of time anyway.