March 12, 200818 yr Take comfort in the knowledge that 2008 will be another year of RECORD profits for the oil companies. They could probably drop it to $2 a gallon and still clear a hefty profit, but they want RECORD profits.
March 12, 200818 yr Honestly I don't even worry about it anymore. We are going to pay it no matter what it is. We have to get to work and the store to live so we have to live with the prices. I don't even bother to look at the price when I get gas.
March 12, 200818 yr I have been following gas closely over the past year. We are at least .25 cents away from topping out this year. Anything over $75 a barrel is pure profit for the speculators and oil companies. We will be over $110 by the week and will probably go up to $125. As for the Dem/Rep debate. I have very strong republican beliefs but with a dem president the price will go down. If we get out of Iraq that will drop the price of oil by 30-40 dollars alone. Also, the dems have clearly shown they are going to go after the oil companies profits. They are going to put them in a spot where they have to do something to bring the price of oil down if they want to continue to have strong profits. I am all for captitalism but excess profits is ridiculous. Not too mention pretty much every OPEC leader HATES Bush. We badly need a change of scenery. OPEC clearly stated to us last week after Bush asked them to put more oil on the market... that the "market has a well suppy" of crude. Supply and demand has about 10% to do with prices. We have to rebuild the economy and get the dollar back up or gas will never come down. This will be one of the most important elections ever.
March 12, 200818 yr Together with strong economic growth, China’s demand for energy is surging rapidly. The Energy Information Administration (EIA) forecasts that China’s oil consumption will increase by almost half a million barrels per day in 2006, or 38 percent of the total growth in world oil demand. China is the world’s third-largest net importer of oil behind the United States and Japan, an important factor in world oil markets. http://www.eoearth.org/article/Energy_profile_of_China http://en.wikipedia.org/wiki/Peak_oil Demand growth is highest in the developing world. World demand for oil is set to increase 37% by 2030, according to the US-based Energy Information Administration's (EIA) annual report. Demand will hit 118 million barrels per day (bpd) from today's existing 86 million barrels, driven in large part by the transportation sector.[10][11] As countries develop, industry, rapid urbanization and higher living standards drive up energy use, most often of oil. Thriving economies such as China and India are quickly becoming large oil consumers. China has seen oil consumption grow by 8% yearly since 2002, doubling from 1996-2006[12], indicating a doubling rate of less than 10 years. It currently imports roughly half its oil, with predictions of swift continued growth in coming years. India's oil imports are expected to more than triple to some 5 million barrels a day by 2020.[ I bolded a key statement in there. China and India are both growing countries that means their demand for oil is increasing. Now unless the oil barons are fathering all of those children in India and China, they can't get ALL the blame. They deserve some, but not all or a lot. And the President and Congressmen don't either. Now you want to talk not have an alternative energy plan, I would put that blame squarely on the shoulders of the men in office before 2000 who should have had some contingency plan. But that thought has holes in it too. I have no idea, so I will ask. What do the Chinese pay at the pump for a gallon of regular gas? Is it similar to what we are paying in the USA? I ask this because every time the issue of high gas prices is discussed, the Chinese demand and market is usually the answer. Are they suffering from inflated fuel cost like the rest of the world?
March 12, 200818 yr I have no idea, so I will ask. What do the Chinese pay at the pump for a gallon of regular gas? Is it similar to what we are paying in the USA? I ask this because every time the issue of high gas prices is discussed, the Chinese demand and market is usually the answer. Are they suffering from inflated fuel cost like the rest of the world? Most of the oil demand growth is coming from China, India and other fast-growing emerging markets, where consumers are largely protected from the effects of high oil prices because of fuel subsidies that reduce incentives for conservation. At some point in time when our economy flat lines oil is going to drop sharply. The speculators are just riding the rollarcoaster up right now.
March 12, 200818 yr I have no idea, so I will ask. What do the Chinese pay at the pump for a gallon of regular gas? Is it similar to what we are paying in the USA? I ask this because every time the issue of high gas prices is discussed, the Chinese demand and market is usually the answer. Are they suffering from inflated fuel cost like the rest of the world? In November Gas in China was 2.80 to 3.00 a gallon. Not sure what it is now.
March 12, 200818 yr Paid $3.24 yesterday here in Ashland. Not sure what it is today. I'm buying a motorcycle or a horse. Better stick with the motorcycle. The price of hay is though the roof as well!
March 12, 200818 yr Exxon Mobil's 2005 net income for the year comes to $1,146 a second. That per-second profit is enough to pay for gas for the average American vehicle to be driven 10,294 miles, at current gasoline prices. That was in 05 ^
March 12, 200818 yr Exxon Mobil's 2005 net income for the year comes to $1,146 a second. That per-second profit is enough to pay for gas for the average American vehicle to be driven 10,294 miles, at current gasoline prices. That was in 05 ^ That's $36,140,256,000 a year ( in '05)
March 12, 200818 yr Exxon Mobil's 2005 net income for the year comes to $1,146 a second. That per-second profit is enough to pay for gas for the average American vehicle to be driven 10,294 miles, at current gasoline prices. That was in 05 ^ Sounds like a good thing for anyone owning Exxon stock.
March 12, 200818 yr Author Gas topped out yesterday at 3.49 Dielsel is over 4 bucks at a lot places around here.
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