 Romney2012Defeat Obama 2012-Chg we can believe inPremium
join:2002-03-03
USA
kudos:4 | Gas prices shooting up; $3.50 gal in Calif now Reasons for oil & gasoline price rises:
»money.cnn.com/2011/02/21/news/ec···s_brent/
Gasoline prices in the United States have jumped 5 cents in just a week, according to AAA.
Americans buy gasoline made with oil from around the globe, which is surging in price.
Since a protester lit himself on fire in Tunisia at the end of December, sparking revolts across North Africa and the Middle East, global oil prices have jumped. Brent crude, pegged to oil prices in the North Sea, is up over 12%.
Meanwhile New York Mercantile Exchange prices have risen 6%, with most of that coming on Monday.
The 39 different oil contracts tracked globally by the U.S. Energy Information Administration are up almost 8% from the end of December until February 11, the most recent survey date. 
With all the mideast turmoil, look for $4/gal and up gas real soon. |
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 lolwhatYou're getting warmerPremium
join:2001-06-11
PonziWorld | And be sure to thank your friendly international bankers and their political whores! It's up to you how you'd like to do so.
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Tutto nelle banche, niente al di fuori delle banche, nulla contro le banche |
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 DSL987
join:2000-03-22
Helotes, TX | You can thank OPEC more than the banks. If oil were allowed to float freely on the market it would probably be about $40 right now. |
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lolwhatYou're getting warmerPremium
join:2001-06-11
PonziWorld Reviews:
 ·Callcentric
| No. A vast amount of the price ramp is due to speculation in commodities, which is in turn due to the free money being handed out by the great and powerful Ben Dover Bernanke. Of course, we're now well into the vicious cycle of this bullshit causing riots in OPEC countries, which is in turn causing even more speculation, which...
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Tutto nelle banche, niente al di fuori delle banche, nulla contro le banche |
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DSL987
join:2000-03-22
Helotes, TX | said by lolwhat:No. A vast amount of the price ramp is due to speculation in commodities, which is in turn due to the free money being handed out by the great and powerful Ben Dover Bernanke. Of course, we're now well into the vicious cycle of this bullshit causing riots in OPEC countries, which is in turn causing even more speculation, which...
Well then, we will have to disagree. |
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horsemouthPlease Clarify My CSPPremium
join:2002-03-13
canada | reply to Romney2012
Sorry we dont have "clean oil" Thank god we have other customers.
»www.youtube.com/watch?v=n7Fzm1hEiDQ |
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lolwhatYou're getting warmerPremium
join:2001-06-11
PonziWorld | reply to DSL987
You may be partly right, 987, but it doesn't explain insane price ramps in other commodities such as wheat, cotton and corn.
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Tutto nelle banche, niente al di fuori delle banche, nulla contro le banche |
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| reply to lolwhat
said by lolwhat:And be sure to thank your friendly international bankers and their political whores! It's up to you how you'd like to do so.
Few are aware of the men behind the curtain. |
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DSL987
join:2000-03-22
Helotes, TX | reply to lolwhat
The food prices can be attributed to droughts and other natural disasters affecting crops, along with ramped up demand from China.
Cotton? Have not heard any causes for that.
Oil is almost out of spare capacity, once that happens we will see another price spike, probably followed by another global recession.
We live in perilous times. |
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 dogmaXYZPremium
join:2002-08-15
Boulder City, NV
kudos:1 | said by DSL987:Oil is almost out of spare capacity, ...
What exactly do you mean by this statement? |
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SipSizzurpFo' ShizzlePremium
join:2005-12-28
Houston, TX
kudos:3 | said by dogma:What exactly do you mean by this statement?
He means "My day job: Oil Refining" according to his profile. That means he has a very different viewpoint on the subject than the majority of us have. Every post he makes in every forum of this website is slanted in favor of higher oil prices, fatter profit margins and the various "perfectly logical explanations" there-of.
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I spent most of my money on Women and Beer, and the rest I just wasted ! |
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DSL987
join:2000-03-22
Helotes, TX
1 edit | said by SipSizzurp:said by dogma:What exactly do you mean by this statement?
He means " My day job: Oil Refining" according to his profile. That means he has a very different viewpoint on the subject than the majority of us have. Every post he makes in every forum of this website is slanted in favor of higher oil prices, fatter profit margins and the various "perfectly logical explanations" there-of. You could not be further from the truth. The company I work for refines oil into gasoline, diesel and other products. When oil goes up, it increases our cost as that is our raw material. When that makes gasoline go to $4 and people cut back on driving, that is also bad for us. We do not like high oil prices and would love for prices to go back down to $30. |
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dogmaXYZPremium
join:2002-08-15
Boulder City, NV
kudos:1 | 
U.S. gas/diesel consumption |
said by Businessweek--> »www.businessweek.com/news/2011-0···m-a.html :Margins at refineries in the central and southern U.S. have swelled more than in other regions because of a glut of crude stored in Cushing, Oklahoma, the biggest U.S. oil-trading hub. Rising production spurred by the rebound in oil prices means supplies have been stacking up at Cushing faster than refiners can draw them down through pipelines. and this
said by Best Growth Stocks--> »www.bestgrowthstock.com/stock-ma···st-glut/ :Cushing tanks held a record 38 million barrels last week, a glut that means crude in Oklahoma and further north is trading at huge discounts to oil at the Gulf Coast refining hub, or across the Atlantic in Europe. and this
said by vanguard--> »www.vanguardngr.com/2011/02/nige···aily-fg/ :Lagos – Nigeria’s crude oil production has increased from one million barrels per day in 2008 to 2. 6 million barrel per day due to the improvement in post-amnesty programme. From what I read, it seems there is still an oil GLUT. Moreover, both domestic and global consumption is still trending DOWN overall (see graph above).
And of course there is a day and night difference between crude oil in a barrel and the refined product that we purchase at the pump (as of course you are intimately aware of)
If there is a crude oil glut, if both domestic and global crude oil production is in reality governed not by potential, but by administrative goals, and (from the first link) oil companies are selling off and closing refineries, so in fact, higher GAS prices have nothing at all to do with the availability of crude oil, but in reality these increases are simply market manipulations by BigOil?
We had this discussion a few years back on the SoCal forum, where we came to find out that oil companies perpetuated the falsehood that "tree huggers" and other environmentalist entities were responsible for not allowing new refineries to be built. In reality, BigOil had closed half of the refineries in California in order to dampen gas production, thus increase prices and ... clearly ... profit. What are your thoughts on this? |
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 SnakeoilIgnore Button. The coward's feature.Premium
join:2000-08-05
Mentor, OH
kudos:1 | reply to Romney2012
It's all about the butterfly flapping it's wings somewhere in the world.
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To All Real Dads. For All Real Moms Every Real
Service. |
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| reply to Romney2012
There's certainly no shortage of crude oil:
»thedailybell.com/553/Energy-Cris···old.html |
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DSL987
join:2000-03-22
Helotes, TX | reply to dogma
Ok, you're talking about different things here, one is refining capacity and one is oil capacity. Right now we have enough of both. Us refineries are currently running at around 82% of capacity.
There is also an excess of oil in Cushing, the trouble is if you're not connected by a pipeline to Cushing you cannot take advantage of the excess (cheaper) oil that is available there right now.
Worldwide there is believed to be about 4-5 Million barrels per days of oil available than is currently used. If things went really bad in Libya that would shut in roughly 1.8 million barrels, which chews up a large part of the 4-5 million cushion.
In regards to refineries in SoCal, I believe in the 90's there was way too much refining capacity and some was closed. If you wanted to build a new refinery in California now, then I seriously doubt you could ever get the permits, even if somebody was stupid enough to want to build one there. |
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 heat84Bit Torrent Apologist
join:2004-03-11
Fort Lauderdale, FL | reply to Romney2012
Only $3.50? If its above $3.00 everywhere else, shouldn't it already be above $4.00 in California?
I'm glad gas is going up again. Anything to stoke development of alternative fuels, and the usage of them.
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Bit Torrent is my DVR. |
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| reply to lolwhat
said by lolwhat:You may be partly right, 987, but it doesn't explain insane price ramps in other commodities such as wheat, cotton and corn.
Actually it does. Since it has become fashionable in the US to turn crop fields over to cash crops which turn into biodiesel and ethanol it's more profitable for a farmer to sell his crop to a refinery than a grocery store.
Simple supply and demand... |
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 VoxxjinCool Blue TrollPremium
join:2010-01-13
San Antonio, TX
 ·Time Warner Cable
| said by lugnut :said by lolwhat:You may be partly right, 987, but it doesn't explain insane price ramps in other commodities such as wheat, cotton and corn.
Actually it does. Since it has become fashionable in the US to turn crop fields over to cash crops which turn into biodiesel and ethanol it's more profitable for a farmer to sell his crop to a refinery than a grocery store. Simple supply and demand... Yup and then you can more for gas, new-age energy and food.
To the OP: all I can say is that I am glad I don't live in CA. Are CA gas taxes that much more than many other places? It's only $2.90 here for reg unleaded.
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Cry "Havoc!" and let slip the dogs of war |
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| Actually I dunno what the OP is whining about. Gas has been well over $4 a gallon up here in Canada for the past couple of years.
Today at the pump it's $1.21 CDN per Liter. That's $4.69 CDN per US Gallon.
$1.01USD ~= $1.00 CDN these days.
And I just spoke to a cousin in Germany this morning who's paying 1.40 EUROS per Liter.
Heaven help you people if your government ever starts taxing gas the way the rest of the world does  |
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