Oil at $34.00 a barrel--

[steve grossman]

Then why in the hell are we being squeezed AGAIN 50 cents higher than 6 weeks ago?? It was $34, and we were paying $1.50 a gallon;, not that long ago. Why isnt this being brought up Federally by anyone, on either side??

Its not fair to us. Will someone out there who understands the economics of this help me out, please...

[Mark55]

when oil was 5 times the price it is now, we were paying $4.00 a gallon here in SC. seems as though we should now be paying 5 times less than $4.00 a gallon now. that would be $.80 a gallon. instead it is around $1.85 a gallon! people assume price gouging when the price was $4, and for the most part none was found. well if it wasn't found then it sure should be found now!

[RuddeDogg]

It's the golden rule, "He who has the gold makes the rules".

[surfchunker]

Yup .... guess it's still Bush's fault .... :eek:

[Mark55]

Yup .... guess it's still Bush's fault .... :eek:

damn right it is...we all know he is all about big oil! obama seems only able to concentrate on one thing at a time.

[basstardo]

It's the golden rule, "He who has the gold makes the rules".

Bingo. They know we have to buy gas and that we'll pay it. We don't have a choice. The oil companies have us by the short and curlies.

[racewire20]

It's the golden rule, "He who has the gold makes the rules".

Or he who has the gold, controls the one's who make the rules.

Gas prices have had the largest single most effect on our economy than anything else, blame who or what you want but in the end the over inflated cost of gas has got this country in the shape it is in right now.
What do you have or use that has not had gas involved in some form or fashion?
The easiest way to see the results from gas prices is look at the total on your grocery bill next time.

It should be considered criminal!!


On a different note,

Steve how are ya doing, haven't heard from ya in a while. Hope your getting along ok.

[dstephenson]

As an Industrial Real Estate Broker who is attempting to sell water front land to a Major Domestic Oil Company for the purpose of developing a new Northeast Petroleum Storage Terminal, i can attest that at $34.00 a barrel, no one makes money! Morgan Stanley & Goldman Sachs turn away from lending money even to Major Oil Companies at these numbers, which in turn, lends itself to US importing of even more (non domestic oil) from the farthest reaches of our planet. We don't have enough of our own domestic storage capacity and have not built a new petroleum refining facility' since WW2. Oil importation = higher prices. FYI. Russia is virtually out of the oil business when prices fall below $50.00 per barrel. Striperman...

[Fishbreath]

Lets see,

oil prices at $120 per barrel = Exxon has record profits

oil prices at $34 per barrel = Exxon has record profits

I don't get it!!! :confused:

[Rockfish1]

gas went up 11¢ a gallon last night here and J-ville... 2 stations left had it at $1.84/5... everywhere else was $1.95 this morning... damn thieves... guess this is the change we had to look forward to... :D

[basstardo]

Summer is coming too.


BOHICA:eek:

[steve grossman]

Is there any way that Exxon can be boycotted for a couple of weeks, and would it do any good?

Hey guys, am still hunting for a job, and trying to survive on $1200/Month, with a cobra med premium of $328/Month. I miss my Dad sooo much since he passed away on Nov 30. Im 57, was able to put a few bucks away, durying my life, in case of the rainy day. Thanks all, I will survive.

But this oil/gas crap AGAIN has struck a nerve with me and others. Is hydrogen or helium or some other type of gas available in some way, for cars of the future??

[BubbaHoTep]

Personally, I think the oil industry, given their record profits, should have been the ones to bail out the auto industry. JMO

[Cerberus]

No one has mentioned that gas prices can only go low for one reason:

Federal and State gas taxes that add up to $0.70 per gallon, that never change or go down regardless of the price of oil.

How does $1.60 gas look now, when .60 of that is taxes?

How much lower can the price go when there is only $1.00 to be had from pumping, refining and distributing the gas to the pump?

[racewire20]

Very valid point Cerberus, had not taken taxes in consideration, but very good point.