gas prices

[Jesseda]

Have you been driving more since gas prices have came down some? I have doing the same amount of driving, I am still not happy with the prices, They said the prices will soon start going up because the united states people are happing with the 30 to 40 cent drop in prices.. Is everyone happy that prices are still over $3.00 a gallon? T. Boone pickens said it will not go below a $100.00 a barrel because we depend to much upon forien oil, is this true.. I am buying a electric heater for my bedroom this year to save from turning on the gas all the time.. I only drive to local places and try not to go all the way to another town to look for something.. Do people fell the same as me that enough is enough we want our prices back pre-katrina!!!! I cant afford groceries because that have went up really really high this past 2 months, and property tax went up a lot this year, whats the deal, why is everything going up morethan what the minimum wage has .. We are making less with this new minimum wage due to inflation!!!!

[jsibelius]

I really never changed my driving habits. I don't live far from my work and I'm otherwise kinda a homebody, so there wasn't much to cut in the first place.

[OU Adonis]

I haven't changed my driving habits and I get about 15mpg in city. I do watch the gas tank more and sigh when I fill up however.

[Insider]

I never changed my driving habits. I wish gas prices were lower (purely selfish), but do not think they are out of proportion to the rest of the world...if anything, our gas prices are still a bit low.

I think that the gas prices are high for low-income families, but our gas prices have been abnormally low for many, many years. People need to pay attention to how much gas costs in other countries. People complain because our gas prices go up, but they are still driving huge vehicles that get 10 miles per gallon. The 'american way' is to live in excess. Americans live extravagant lives and are slowly starting to pay for it.

Does anyone in this forum that is complaining about gas prices have ANY idea how much it cost to get that oil out of the ground? To process it? It is not as easy as you think. Oil does not flow in underground rivers. It is hidden in rocks. It can cost millions of dollars PER WELL to get oil (and natural gas) out of the ground. If it is offshore, that cost can skyrocket into the hundreds of millions of dollars per well. Think about that when you complain about gas prices.

[OU Adonis]

Gas prices
Most expensive places to buy gas
Rank Country Price/gal
1. Eritrea $9.58
2. Norway $8.73
3. United Kingdom $8.38
4. Netherlands $8.37
5. Monaco $8.31
6. Iceland $8.28
7. Belgium $8.22
8. France $8.07
9. Germany $7.86
10. Portugal $7.84
108. United States $3.45

Where gasoline is cheapest
Rank Country Price/gal
1. Venezuela 12 cents
2. Iran 40 cents
3. Saudi Arabia 45 cents
4. Libya 50 cents
5. Swaziland 54 cents
6. Qatar 73 cents
7. Bahrain 81 cents
8. Egypt 89 cents
9. Kuwait 90 cents
10. Seychelles 98 cents
44. United States $3.45

[mecarr]

.
Does anyone in this forum that is complaining about gas prices have ANY idea how much it cost to get that oil out of the ground? To process it? It is not as easy as you think. Oil does not flow in underground rivers. It is hidden in rocks. It can cost millions of dollars PER WELL to get oil (and natural gas) out of the ground. If it is offshore, that cost can skyrocket into the hundreds of millions of dollars per well. Think about that when you complain about gas prices.

Well, however expensive it is to obtain and process oil, it surely is cheap enough to allow oil companies to record astronomical and record profits. It's not like they're barely making it...

[Insider]

I agree, 'Big Oil' is making record profits, but they are also paying record taxes.

Take Exxon Mobil for example, which recently reported the highest quarterly profit ever. Yet if its profits are at record highs, its tax bills are already at record highs too. Between 2003 and 2007, Exxon paid $64.7 billion in U.S. taxes, exceeding its after-tax U.S. earnings by more than $19 billion (They paid more in taxes than they made in the U.S.). Also, Exxon’s profit margin stood at 10% for 2007, which is hardly out of line with the oil and gas industry average of 8.3%, or the 8.9% for U.S. manufacturing (excluding the sputtering auto makers).

If a profit margin of 10% means they are ripping American's off, what about the aerospace or machinery industries — both 8.2% in 2007. Chemicals had an average margin of 12.7%. Computers: 13.7%. Electronics and appliances: 14.5%. Pharmaceuticals (18.4%) and beverages and tobacco (19.1%) round out the Census Bureau’s industry rankings. The latter two double the returns of Big Oil, though of course government has already became a tacit shareholder in Big Tobacco through the various legal settlements that guarantee a revenue stream for years to come.

Please learn your facts BEFORE you try to point fingers at 'Big Oil.'

[hipsterdoofus]

I'm not real sure how it helps you by switching to electric appliances...you do realize that it requires fuel of some kind to generate your electricity?

[Insider]

I think the reason they are using a small electric heater is so they do not have to heat the entire house. Plus, electricity is cheaper in the winter than in the summer. ONG released a statement a while back saying the price of gas this winter is going to be dramatically higher that in the past. They said it could be up to double last years rates. This is because they were buying their gas for this winter back when prices were through the roof.

[solitude]

I think the reason they are using a small electric heater is so they do not have to heat the entire house. Plus, electricity is cheaper in the winter than in the summer. ONG released a statement a while back saying the price of gas this winter is going to be dramatically higher that in the past. They said it could be up to double last years rates. This is because they were buying their gas for this winter back when prices were through the roof.

They would only need to double rates if they had to preserve their current profit levels. But I know you're game here -- everyone makes a sacrifice except the big utilities. Yet, they'll be shutting off gas to people having a hard time paying those bills so ONG can maintain their hefty profits. One word: inhumane.

By the way, I understand ONG is not allowed to "profit" - only the companies they buy their gas from are - in a big way. Surprise! ONG buys their gas from their parent company - ONEOK!

What a joke.

[citizenkane]

Americans think they have a God-given right to cheap energy. They are wrong. If you think the business is so easy, why don't you try investing your own money in the drilling of an oil well and report back to us?

[solitude]

Americans think they have a God-given right to cheap energy. They are wrong. If you think the business is so easy, why don't you try investing your own money in the drilling of an oil well and report back to us?

Who said the business was easy? That has nothing to do with anything.

[citizenkane]

Who said the business was easy? That has nothing to do with anything.

It certainly does. Reward comes from risk...unless you live in Cuba.

[solitude]

It certainly does. Reward comes from risk...unless you live in Cuba.

I don't know what you're talking about. Are you trying to say if you're in the oil business that you actually worked for 44 billion dollars in profit? (That was the 90 day profit of the Big Five oil companies.) Is that what you're saying?

Do you not understand fair compensation versus obscene profits?

What the hell does Cuba have to do with anything?

[citizenkane]

I don't know what you're talking about. Are you trying to say if you're in the oil business that you actually worked for 44 billion dollars in profit? (That was the 90 day profit of the Big Five oil companies.) Is that what you're saying?

Do you not understand fair compensation versus obscene profits?

What the hell does Cuba have to do with anything?

Obscene profits?. Have you ever questioned Starbucks or Ozarka about how much they make? Interestingly, oil companies' profit margins are lower than insurance companies and even Microsoft. Cuba? Socialism....

Put your money where your mouth is.

[solitude]

Obscene profits?. Have you ever questioned Starbucks or Ozarka about how much they make? Interestingly, oil companies' profit margins are lower than insurance companies and even Microsoft. Cuba? Socialism....

Put your money where your mouth is.

Margins mean nothing in this case.

You can see my post about this here.

Red scare!!! Cuba is a communist country. Sweden is a socialist country.

When it comes to energy, I strongly believe in the motto: People Before Profits.

[citizenkane]

Margins mean nothing in this case.

You can see my post about this here.

Red scare!!! Cuba is a communist country. Sweden is a socialist country.

When it comes to energy, I strongly believe in the motto: People Before Profits.

If you want energy, you've got to pay for it. If you don't pay for it, no one in their right mind will explore for it. Nothing more, nothing less.

I understand the distinction between Communism and socialism; you are advocating both.

Without profit, the people will be riding bikes instead of cars.

[solitude]

If you want energy, you've got to pay for it. If you don't pay for it, no one in their right mind will explore for it. Nothing more, nothing less.

I understand the distinction between Communism and socialism; you are advocating both.

Without profit, the people will be riding bikes instead of cars.

I am, in fact, an advocate of social democracy and have never hidden that. I'm not advocating communism. Communism, per Marxism-Leninism, supports a "vanguard party" and centralized planning by the party. There is social democracy all over the world. It's not either unbridled capitalism or bicycles. God, that's ridiculous.

I support public ownership of the oil companies and big utilities. You're not going to change my mind - so I'll stop here. Have a good night.

[mecarr]

If you want energy, you've got to pay for it. If you don't pay for it, no one in their right mind will explore for it. Nothing more, nothing less.

I understand the distinction between Communism and socialism; you are advocating both.

Without profit, the people will be riding bikes instead of cars.

Everyone is allowed to make a profit, and everyone is subject to taxes. And that's the point. Their profits are so high that they are more than properly rewarded for the risks that they have took. The profits can be taxed though, and they should.

If you don't like it, go to Saudi Arabia.

[oneforone]

Everyone is allowed to make a profit, and everyone is subject to taxes. And that's the point. Their profits are so high that they are more than properly rewarded for the risks that they have took. The profits can be taxed though, and they should.

If you don't like it, go to Saudi Arabia.

What about all the years when the oil companies lost money (many went out of business) and the consumer won out with cheap fuel. Why do you think every major oil company that survived opened convenience stores or ran repair garages. The price of oil was so cheap they could not keep the company afloat without additional sources of revenue.

The major reason for the oil crisis is our tendency to become complacent and never think about what might happen tomorrow.

Blaming the oil companies is like everyone blaming McDonald’s for the epidemic of obesity and heart disease. Any consumer could have purchased a fuel conscious car years ago. Any consumer could have monitored their fuel usage and made steps to modify their driving. Any consumer could have purchased a home closer to work or found employment closer to home.

We spend more time driving then people did 50 years ago. We shut down the corner stores and neighborhood shopping centers to drive to mammoth malls and supercenters. We did it all in the name of saving a buck or wanting to be seen in the hip happening places.

CNG, Economy Cars, Electric Cars have been on the radar for years. Unfortunately, we all laughed and said "Oil shortage HA...HA...HA, it will never happen." Maybe if we would have learned our lesson back in the 70's we would have a variety of energy sources to tap today.

Everyone in the United States who has been of voting age within the last 50 years should stand up and shoulder the blame. We keep electing people that only care about furthering their career. We rarely elect anyone that cares about the problems of average Americans. The only time they care is in an election year. They promise, promise, promise, and rarely deliver. Once the election year is over the voter is a nuisance that can be ignored until the next election.

[Jesseda]

Yes the reason I am switching to a small electric heater is to save on gas plus not waste money, i am not going to be in the living room duringthenight, why should the living room stay nice and warm lol, plus yes i did hear that prices will be double this year yikes!!!! So i will have a electric heater on and try not touse my gas unless its like 0 degrees outside (hopefully i didnt just jinks mysself and we turn out to have the coldest winter on record)

[jawgie]

I know a couple that makes a combined income of 15.00 per hour with 2 little kids and 2 cars to insure and drive, ask them how the gas prices affect their lives, they are trying to keep up the mortgage etc.
I'm sure there are alot of those stories out there too.
So I understand trying to keep costs down by using whatever means we can.

[GuyB]

I agree, 'Big Oil' is making record profits, but they are also paying record taxes.

Take Exxon Mobil for example, which recently reported the highest quarterly profit ever. Yet if its profits are at record highs, its tax bills are already at record highs too. Between 2003 and 2007, Exxon paid $64.7 billion in U.S. taxes, exceeding its after-tax U.S. earnings by more than $19 billion (They paid more in taxes than they made in the U.S.). Also, Exxon’s profit margin stood at 10% for 2007, which is hardly out of line with the oil and gas industry average of 8.3%, or the 8.9% for U.S. manufacturing (excluding the sputtering auto makers).

If a profit margin of 10% means they are ripping American's off, what about the aerospace or machinery industries — both 8.2% in 2007. Chemicals had an average margin of 12.7%. Computers: 13.7%. Electronics and appliances: 14.5%. Pharmaceuticals (18.4%) and beverages and tobacco (19.1%) round out the Census Bureau’s industry rankings. The latter two double the returns of Big Oil, though of course government has already became a tacit shareholder in Big Tobacco through the various legal settlements that guarantee a revenue stream for years to come.

Please learn your facts BEFORE you try to point fingers at 'Big Oil.'

Could you provide a source for these stats?

[PennyQuilts]

I was 45 years old before I picked up an economics book and got a clue. Before that, I sort of looked at economics as something I didn't want to dirty my pure hands with. I was an idiot. They should be teaching economics to kids more than they do. Until I studied it (although I am not claiming to be an economist) I had NO IDEA how things worked. I assumed the worked the way I conjured up in my head. There is a lot of room for heroes and villians when you are building a story book, mentally. In the real world, there are unintended consequences and predictable results and they bear little resemblence to the fairy tale I had in my head about how money and the economy worked.

[Insider]

The source is the U.S. Census Bureau's Industry Rankings