Crude Oil breaks $80 mark

[Under the Lights]

You are right.. it is capitalism... abuse of it.

 

How are people supposed to stop driving to work? The don't buy it theory will never work. Too many rich/upper middle class and middle class people eating it up in the big SUV's.

 

Maybe when we get to 150 oil dollar and 4.00 gas it will impact you guys.

 

The don't buy it theory ALWAYS works. Supply meet Demand. Believe me, I am certainly NOT one of "you guys". There is a reason gas has gone from 2 to 2.50 to 3.00. It is because of the demand for gasoline. Prices are determined by the amount of gasoline available, and the demand for gasoline. If you want my honest opinion, the overall global demand for gasoline has skyrocketed in the last 15 years. Gas companies are having increase their outlay and seek out new sources of crude oil. Doing this requires lots and lots of $$$.

 

As far as "how are people supposed to stop driving to work"? This is a very typical American response. There are many, many cultures that the majority of the populace doesn't drive to work. The Japanese come to mind. Americans also once did not drive to work (and certainly not as far).

 

You obviously have a skewed vision on how a true "free market" should work. The purpose of a free market is to let the driving market forces (supply and demand) determine the price for each good in the "free market". There is no such thing as excess profit. Did people say that the company that made Tickle Me Elmo made excess profits? How about video game console people? It literally costs them about a buck to produce a video game. Why is your ire directed solely at oil companies?

[Under the Lights]

My car gets 30 MPG and I don't joy ride... what do I do now?

 

Maybe the 3.00 gas will sink the retailers further.. then they will complain and people will listen.

 

This is nothing new... first it was 2.00, then 2.50, now its 3.00 year round... there gonna go all the way up to 4.00 cause they agree with you and know they can get away with it.

 

Alternate methods of transportation. Do you live in an urban area, what about the bus? That saves a lot of money. How about a bicycle? I hear that exercise is good for you. Hybrid cars are also an option.

 

We as a society drive a tremendous amount more on a daily/weekly basis than we did 20 years ago. Do you plan so that you visit the grocery once a week with list in hand for the upcoming week? Chances are that you are like most people and you stop a couple nights a week at various stores.

[Sportz Addict]

The don't buy it theory ALWAYS works. Supply meet Demand. Believe me, I am certainly NOT one of "you guys". There is a reason gas has gone from 2 to 2.50 to 3.00. It is because of the demand for gasoline. Prices are determined by the amount of gasoline available, and the demand for gasoline. If you want my honest opinion, the overall global demand for gasoline has skyrocketed in the last 15 years. Gas companies are having increase their outlay and seek out new sources of crude oil. Doing this requires lots and lots of $$$.

 

As far as "how are people supposed to stop driving to work"? This is a very typical American response. There are many, many cultures that the majority of the populace doesn't drive to work. The Japanese come to mind. Americans also once did not drive to work (and certainly not as far).

 

You obviously have a skewed vision on how a true "free market" should work. The purpose of a free market is to let the driving market forces (supply and demand) determine the price for each good in the "free market". There is no such thing as excess profit. Did people say that the company that made Tickle Me Elmo made excess profits? How about video game console people? It literally costs them about a buck to produce a video game. Why is your ire directed solely at oil companies?

 

We keep hearing about how gas is almost gone... but they are consistantly meeting record demands.......

 

This country is owned and operated by corporate America. We are in a recession, there are states actually wanting a secession... the dollar is so low. America has hit rock bottom. All we are concerned about is starting wars. This country desperately... desperately needs an amazing leader to come in and fix all the damaged issues caused in the last 8 years.

 

Once we get a leader who will take care of problems here things will be better. If Bush started a serious energy bill/act 8 years ago we are in a much better situation... but I will still give you.. oil demand would be up.

[cshs81]

This country is owned and operated by corporate America. We are in a recession, there are states actually wanting a secession... the dollar is so low. America has hit rock bottom. All we are concerned about is starting wars. This country desperately... desperately needs an amazing leader to come in and fix all the damaged issues caused in the last 8 years.

 

.

 

None of the above is true other than the dollar being lower than it has been.

 

Rock bottom?

No states want to seceed - just a few loonies in a state might.

Starting wars?

 

Your world must not be very much fun.

[HHSDad]

Ethanol has already shown itself to be a disaster in the making for the U.S. We can't grow enough corn to make enough ethanol AND feed our livestock AND feed ourselves.

 

There's oil on U.S. soil and in U.S. waters, but no one will allow us to drill for it.

 

We have a refinery shortage, but the regulatory laws are so strict, no one is willing to build new ones.

 

The price of crude oil in 1998 was $12.72 per barrel. A gallon of gas cost a buck.

 

The price of crude oil right now is about $92. A gallon of gas should therefore cost about $7.23.

[Sportz Addict]

None of the above is true other than the dollar being lower than it has been.

 

Rock bottom?

No states want to seceed - just a few loonies in a state might.

Starting wars?

 

Your world must not be very much fun.

 

You don't think we are in a recession right now?

 

Several east coast states are support a secession.......

 

We started a war in Iraq over imaginary nukes.... we are getting ready to start a war in Iran over more at this present time.. non existing nukes.....

[Sportz Addict]

Ethanol has already shown itself to be a disaster in the making for the U.S. We can't grow enough corn to make enough ethanol AND feed our livestock AND feed ourselves.

 

There's oil on U.S. soil and in U.S. waters, but no one will allow us to drill for it.

 

We have a refinery shortage, but the regulatory laws are so strict, no one is willing to build new ones.

 

The price of crude oil in 1998 was $12.72 per barrel. A gallon of gas cost a buck.

 

The price of crude oil right now is about $92. A gallon of gas should therefore cost about $7.23.

 

 

Wait till they cut the rates again Wednesday.... OPEC will do all they can to tighten supply... oil is gonna go up to 125-130 by the end of the year. They are gonna try to push it up to 200 a barrel within the next few years.

 

The best part is DEMAND is low right now... this is not summer season... no hurricanes.... but 3.00 gas. we are gonna hit 4 dollars next summer its almost a lock.

 

I was reading an article a few weeks ago from the head OPEC guy saying quote "80 dollar oil won't last." He mean't it would go down... ha.. nice try.

 

Walmart and other retailers are gonna take a hit at 3.00 + all Christmas.. the shaky economy is headed for an ice berg.

[cshs81]

Walmart and other retailers are gonna take a hit at 3.00 + all Christmas.. the shaky economy is headed for an ice berg.

 

USA Today did a survey and 88% of the economists surveyed said that the price of gas/oil has had little to NO impact on the economy.

[cshs81]

You don't think we are in a recession right now?

 

Several east coast states are support a secession.......

 

We started a war in Iraq over imaginary nukes.... we are getting ready to start a war in Iran over more at this present time.. non existing nukes.....

 

 

1. No

 

2. Name them.

[newarkcatholicfan]

economy is headed for an ice berg

 

I agree with that.

[Devilman]

In Flemingsburg yesterday gas was $3.02, in Mayslick it was $2.88, but they were gonna be raising it too so I went ahead and filled my truck up before they chang.....raised the price on that.

I don't think they need a reason to raise prices on oil(Gas), other then they can. I'd look for more driveoffs at the pump, not just around here but everywhere else.

[HHSDad]

economy is headed for an ice berg

 

I agree with that.

I can see that.

[pirate1960]

$ 3.09 a gallon in Belfry as of yesterday..

[ladiesbballcoach]

 

The real culprit in this case is the govt who has had its head in the ground forever on this issue. To now have them attempt to punish an industry that has done well because we Americans(also culprits) haven't forced the issue and , instead, continue to suck up the gasoline would be a farce.

 

?

 

When the challenge was laid down in the early 60's and the gov got serious about it, they put a man on the moon before the end of the decade.

 

But somehow, in the past 30 years, we cannot have a decent car that lessens our dependence on oil at an affordable price?

[94 Camel]

You don't think we are in a recession right now?

 

Several east coast states are support a secession.......

 

We started a war in Iraq over imaginary nukes.... we are getting ready to start a war in Iran over more at this present time.. non existing nukes.....

 

When were nukes ever mentioned in the Iraq war? It was called WMD's, namely chemical or biological. Iran is fully admitting to preparing to go nuclear. As for secession, WAKE UP AND COME BACK TO REALITY.