F... gas prices

[TheMalcolmConnection]

OK. I will.

[Be Tuat]

OK. I will.

____________ _____
Thanks.

[TheMalcolmConnection]

HAHA! Anytime.

[cpayne5]

Originally Posted by Be Tuat

We will continue paying it and it will get more expensive, while we wait for alternatives. When last years gas price spiked, we all had to find ways to suck it up at "our expense of a few less beers" Yeah, we complain- but realistically, we have no choice but continue to spend $$$ on gas. I have a long commute; carpooling and mass transit are not viable options. I don't drive a gas guzzling suv, but I'm stuck with a car that demands premium gas. BUILD MORE REFINERIES

What car do you drive?

[Be Tuat]

I was driving my 323i BMW. Currently, I'm driving a Honda Odyssey. My average daily commute is 70 miles round trip. It will go up to 100 miles when we change offices. I bought the minivan for my wife, because we are expecting. Because of the gas hike, my wife drives the beamer; her commute is less than 10 miles round trip. I ended up driving the car that I bought for my wife. I spend roughly $50 on gas per week with the minivan. If I was driving the beamer, easily spend $75/week on gas. !!!

[cpayne5]

A 323 will run on regular unleaded.

[Be Tuat]

But what about the repair bills. BMW recommends 92+ octane

[cpayne5]

Originally Posted by Be Tuat

But what about the repair bills. BMW recommends 92+ octane

What repair bills??? They recommend a higher octane for performance purposes. If you run a lower octane, the ECU will compensate and retard the timing.

[FRPLG]

I read something interesting this morning on this. Don't remember where though. Anways, basically the point of the article was that oil companies actually make a small percentage of their profits on actual gas. They make all their money on the oil they pump out of the ground. And oil companies dont set prices. Traders on wall street do. When traders offer $68 for a barrel of oil are the oil companies supposed to say no? The cost of oil now is in response to a concern for future shortages. People pay more now to ensure they have it going foward. So when oil companies make 36 billion based on inflated prices it is not because supply is an issue now but that it may be in the future. When the future comes around all those people who paid $68 a barrell will be thankful they have oil. Long and short is that the real issue isn't much with oil companies but rather with our ability to import oil and refine it. Oil companies didn't just decide to start charging more. I wish it was that easy but it is short sighted and ineffective to blame big oil when they are only a fraction of the issue if at all.

[firstdown]

Originally Posted by itvnetop

By the Numbers

Exxon posted a 30% profit increase during the last quarter from the previous year... the annual 36 billion earning was the largest net profit in US history. Overall, the 12 US oil companies in the S&P saw close to a 50% increase over the fourth quarter.

We're not using twice as much oil as the year before... supply and demand is a part of the equation. but there's a correlation between what we're paying at the pumps and the increasing belt size of these fat cats.

You also need to know what those numbers mean. If they made a 1cent per dollar spent proffit last 1/4 and a 1 1/2 cent profit per dollar spent this 1/4 that would be a 50% increase in profit.

[Schneed10]

Originally Posted by FRPLG

I read something interesting this morning on this. Don't remember where though. Anways, basically the point of the article was that oil companies actually make a small percentage of their profits on actual gas. They make all their money on the oil they pump out of the ground. And oil companies dont set prices. Traders on wall street do. When traders offer $68 for a barrel of oil are the oil companies supposed to say no? The cost of oil now is in response to a concern for future shortages. People pay more now to ensure they have it going foward. So when oil companies make 36 billion based on inflated prices it is not because supply is an issue now but that it may be in the future. When the future comes around all those people who paid $68 a barrell will be thankful they have oil. Long and short is that the real issue isn't much with oil companies but rather with our ability to import oil and refine it. Oil companies didn't just decide to start charging more. I wish it was that easy but it is short sighted and ineffective to blame big oil when they are only a fraction of the issue if at all.

Very well put.

[SmootSmack]

All this talk of price gouging, refineries, supply and demand, etc.

I've got the solution right here. Check out my fuel efficient convertible

[cpayne5]

Originally Posted by TAFKAS

All this talk of price gouging, refineries, supply and demand, etc.

I've got the solution right here. Check out my fuel efficient convertible

Nothing like having the wind blow through your streamers.

[That Guy]

i missed this thread... I said to buy short term oil futures a couple weeks before the hurricane hit. We don't have any sort of oil shortage, but a shortage of refinery capacity (in part due to masive consolidation). Gas prices might go down in 20 years when the refineries are all back to 100%. Meanwhile we'll have limited on shore refining and expensive off shore refining (extra shipping costs and less price control).

[Schneed10]

Very pertinent article to our discussions.

Who's to blame for high gas prices?