Gas prices

[kelroy55]

Is something going on that's causing the price of gas to shoot up? Seems like it's been going up a lot lately.

[Plutonic Panda]

I've heard the typical "unrest in middle east" which makes sense I suppose. Not really sure though honestly, doesn't the price usually go down about this time?

[ou48A]

Is something going on that's causing the price of gas to shoot up? Seems like it's been going up a lot lately.

Some of it involves the devaluation of the dollar that's been caused by a massive increases in GOV debt. You can thank dem's and Obama for their policy’s.
Some of it is caused by a lack of pipeline capacity that Obama's EPA has slowed or blocked.
Far more crude is now being shipped by train than ever before. Train transportation is more expensive and we pay for it at the pump. But as a result a key Obama supporter Warren Buffet is making billions.
Some of it is increased demand and a lack of refining capacity in the right locations.
It's refinery turn around season when maintenance is often done.
since its now virtually impossible to build a new US refinery from scratch since the 70's due to government regulation and environment protest..... as population shifts demand chances locally.
Some of it is caused by Geo political tensions around the world.
Those are facts just off the top of my head.
But there is a great deal more that we are not doing that could help the situation.

[kelroy55]

Thanks Obama </sarcasm>

[Plutonic Panda]

came across this while looking for another meme

[Mel]

It's hard on the working poor or those living on the edge. I miss my road trips but gas is so high I can't. Oklahoma has many beautiful and interesting places to visit. I miss my motervating.

[gjl]

Cost $77 to fill up my truck a couple days ago. I haven't spent that much on a fill up in a while. On Cue 87 octane 100% gas.

[Garin]

Praise God I have not paid for gas since 1997

[kevinpate]

Praise God I have not paid for gas since 1997

Running on squirrel power?

[BBatesokc]

Makes me glad I have a Prius in the driveway. $30-something dollars to fill it up and 52 MPG.

[Prunepicker]

came across this while looking for another meme

What's so hard about doing the right thing? Seriously. One
doesn't need to be president to know the difference between
intelligence and stupidity. Hey, you're president and you
don't know the difference.

[kevinpate]

I find myself driving less than I used to drive.
I don't miss it near like I thought I might.

[Prunepicker]

I find myself driving less than I used to drive.
I don't miss it near like I thought I might.

I've been riding my motorcycle, Suzuki Boulevard, whenever possible.
But I'd be doing that anyway.

Seems to me that the Keystone pipeline makes perfect sense.

[trousers]

Seems to me that the Keystone pipeline makes perfect sense.

Why? Do you think that product will be sold here?

[kelroy55]

I've been riding my motorcycle, Suzuki Boulevard, whenever possible.
But I'd be doing that anyway.

Seems to me that the Keystone pipeline makes perfect sense.

I do too unless it's cold or raining.

Why? Do you think that product will be sold here?

or effect the price of oil on the world market.

[Garin]

Running on squirrel power?

The company I work for has always paid for it.

[kelroy55]

The company I work for has always paid for it.

I'm sure they don't make you pay for gas when driving the short bus.

[ou48A]

I'm sure they don't make you pay for gas when driving the short bus.

Yet it's the people who actually ride the short bus who are the people who need to ask what's "causing the price of gas to shoot up"....
because they don't understand even fundamental economics.
A job that pay's for your gas unusual isn't a short bus job.

[kelroy55]

Yet it's the people who actually ride the short bus who are the people who need to ask what's "causing the price of gas to shoot up"....
because they don't understand even fundamental economics.
A job that pay's for your gas unusual isn't a short bus job.

Sorry, I didn't think I needed to use the </sarcasm> tag but I guess I was wrong.

[Garin]

I'm sure they don't make you pay for gas when driving the short bus.

As long as I'm driving the bus......there'll always be room for for riders like u.

[catch22]

Yet it's the people who actually ride the short bus who are the people who need to ask what's "causing the price of gas to shoot up"....
because they don't understand even fundamental economics.
A job that pay's for your gas unusual isn't a short bus job.

If we open up new capacity; someone somewhere else will cut off the equal amount of supply to keep the price where it's at.

[ou48A]

Sorry, I didn't think I needed to use the </sarcasm> tag but I guess I was wrong.

When you have got to ask about some of the most basic fundamentals about economics that I learned about while in Junior High no amount of defection by you is going to change what you know or don't know about one of the most basic and important commodity's in the entire world.

[ou48A]

If we open up new capacity; someone somewhere else will cut off the equal amount of supply to keep the price where it's at.

How do you know that?

That's not what happen in the 1990's when crude dropped to around $10 a barrel

[catch22]

^ I'd say the 65 year trend has been for oil prices to increase.

3/5 out of the large dips in price, has resulted in a bull run that set the price higher than the drop in price.

1/5 of the time, the drop resulted in a bull run that fell short of the preceding drop in price, but the second drop and bull run surpased the preceding two price drops.

So 4 out of 5 times, a drop in oil price has resulted in an eventual rebound to a price HIGHER than the prior.

Only once has the low price of a drop in price, been lower than the previous drop. The trend is for each peak and each valley to be higher than the previous.

[ou48A]

That's true^ but its probably basically true with most commodity's....
But sometimes crude oil has been used as a political weapon, probably more than any other commodity.
Sometimes crude has been over produced and sometimes the production has been curtailed.... depending on who wants what.
But this can have a huge impact on the economy.