The price of regular gas on Long Island tonight has risen to $3.29.9 gal., I'm sure diesel is not far behind. I'm wondering how long it will take to break the $4 per gal. mark.

I think the PSD clearly is the choice if your going to purchase a SuperDuty at this point (little consolation for present owners).

 

"Greed has reached new limits"

What, you just find out who is in the whitehouse????

 

The most disgusting part is one of the big three oil companies posted it's 3rd largest profit margin in it's 123 year history last quarter, while were taking it in the shorts at the gas pump.

 

I didn't vote for him!

 

3/4er,

I guess it depends on where in the country you live, because here on the Left Coast, diesel is more expensive than gas! I just paid $3/gal for 87 octane and diesel at the same gas station was $3.26/gal.

I was thrilled to hear that the oil companies reported record profits Apparently, they think nothing of how crippling this is to the nation.

DS

 

this thread will probably be shut down,

oil companies are for profit businesses. Yea it does suck,

 

Oh please. You think there's a dial in the oval office that sets gas prices?

Basic economics, just supply and demand. Demand is high, so prices are high. If they're that big an imposition on you, do something about it:

(1) Reduce demand. Trade in your rig on a Civic. You'll personally use less gas, which will save you money. You'll reduce overall demand, which will lower prices. And you'll do your small part to reduce pollution and keep the sky from falling in on us.

Or, (2) Increase supply. Call your senator, tell 'em to tap ANWR. We need more oil, we've got more oil, we need the (guts) to stand up and go get it. While you've got em on the phone, tell em to okay a couple new refineries here in the states. Or a couple dozen. EPA ***** haven't allowed a new one to be built in 30 years. We're scraping by on 1975 technology and capacity, and you wonder why prices are up? Not to mention all the different (federally-mandated) formulations of gas. Can you imagine if the gov't required McDonald's top make fifty different types of hamburgers? What would happen to the prices? We need to pick one that's good and go with it.

Sorry to come off as a hardcase, but you can't just gripe. You have to realize why things are as they are and figure out what will help change them.

Robert

 

Everyone needs to boycot the oil company with the biggest profit for this year. Anyone know who that is? The whole boycot gas on Wed or what ever is bunk it will not work. But if we all boycot one brand, that will have an impact. Boycot that one brand until they lower there price below the other guys. Get em into a price war to get customers back. Out here in California AMPM reg unleaded is 2.69 Exon Mobile across the street is like 2.89, if everyone boycotted Exon Mobile then they would lower their price to match AMPM. Then we could keep boycotting them and make them beat AMPM. Then we can boycot AMPM and make them beat Exon Mobile.

 

Exxon Mob would just sell their's to the other companies who can't keep up with their new-found demand. Sucks, but I am afraid that other than cutting use, you are not going to hurt anyone in the oil business.

Do this, pledge to cut back 10% in the coming months. If you can't, cut 5%. If can afford to, cut 15% to make up for those who can't cut but 5. 5-10% cut in fuel demand, across the board, would be huge! Worst case, you just saved yourself a few bucks.

 

7pt3 you have some valid points but...if you think Elemint is way off base then who is being naive' here...of course he dosn't set the prices, but he does have influence, he comes from a family that made it's wealth on oil, his second in command was a CEO of a large oil company and you can bet your bottom dollar some of his biggest campaign contributors are from the oil industry. He is going to take care of those that supported him...ie oil companies until public pressure outweighs the benefit, your right complaining here is'nt going to do anything, complaining to your Senator is going to start applying the pressure if enough people do (squeaky wheel gets the grease!!!). I just stated a fact that a company made a RECORD profit and in doing so handed the cost down to us by doubling the cost (at least here in CT) in the last 2 years of gas and home heating oil, a comodity that is not a luxury but necessity for most of us in the United States. I'm all for a company making a profit and meeting it's operational costs, but to take advantage of us to suck every last dollar out of our wallets to maximize their profit margin and line their top executives pockets is wrong, but unfortunately that is the way most big businesses operate and we are stuck with it and it sucks. Wheww I'm done.... you are wrong about one thing... it does feel good to gripe!!!!

Kev

 

It would take 5-10 years to set up drilling operations in ANWR, even if it were opened up tomorrow. At peak output, the known oil reserves in ANWR would supply this country with less than 10% of the consumed oil by today's demand numbers; not even considering what demand would be 10-15 years from now. The large, easily-accessible, easily refined oil has been found and is being pumped even as we speak. Refineries as well would take several years to build and get running. Considering the clout of the oil companies, is it reasonable to expect that EPA regulations are the only things stopping the construction of new refineries? Refinery profits are razor thin, and since many geologists believe we are getting close to peak output of oil, why build more refineries when, by the time they will be running, there might be less oil to refine.

I agree with the spirit of your post: we all must take some personal responsibility. However, it is important to know that solutions such as tapping the strategic reserve, building more refineries, or drilling in ANWR, will not do anything in the short-term or, realistically, the long-term to lower the price of gas.

 

Besides, it the global economy that is causing the demand spike, not us. China is buying all the oil/fuel they can get. And they are paying top dollar to make sure they get it.

 

And China has ZERO rules or regulations on fuel efficiency. It is just buy it and burn it for them. Energy conservation is non-exhistant there.

 

That's not wrong, that's exactly how the system is supposed to work -- Those who supply the most valuable, most necessary products and services are rewarded with the highest profits. This encourages them to continue producing the goods we need.

This is the same arguement used against anwr drilling when Bush first proposed it in his original energy bill, oh, darn near five years ago. Which means we'd be pumping by now if it weren't for the precious caribou.

Actually, it's not likely to be even that much. More like 6-7%. But reducing demand by 6-7% is huge. Every time a camel sneezes and 1% of production is interrupted, prices spike. 7% will counteract a lot of camel sneezes.

Besides the effect that'd have on prices, consider this: We (the US) use like 20 million barrels a day. 7% out of anwr is 1.4 million, which at $70 a barrel is $100 million dollars every day, $36 BILLION a year, that we could be pumping back into our own economy, employing Americans, instead of sending overseas, making the badguys rich.

Again, do you not think we'll need gas "several years" from now? My truck better still be on the road, still sucking fuel. We'll need them then even more than we do now, and we've got to start sometime.

You and kbodge need to decide if Big Bad Oil is making record profits, or none at all...

And maybe you're right: Fewer refineries mean higher prices and thus higher profits. On the other hand, I'd bet that if they could produce twice as much gas, at 80% of the profit per gallon, they'd take that 160%. Besides nobody has a monopoly on refining gas. Opening some new refineries could let somebody new into the game, Dow or DuPont, or any of a million chemical companies. A little competition for ExMo would be fine...

We've been hearing this for decades. I remember gettin mad in third grade when our science (?) teacher told us the world would run out of oil by 1990. (I was mad cause I did the math and realized that'd be the year I started driving.) We're still pumping, no end in sight. It's not the oil isn't there.

We just have to be willing to get it.



Sorry this ran so long, but you guys got me started!

Robert

 

"Greed has reached new limits"

I personally do not think they (whoever "they" are) have even started to reach a limit...