fuel prices

[Missilelock]

I gotta wonder when the greed buggers are gonna have fuel prices high enough to suit them. Its beyond me why something cant be done at the federal level to slow this thing down & back up some. I really cant believe that none of the big 3 running for Pres. are making this a big campaign issue either. We all know the only time a politician aint lyin is when their lips quit movin , so why dont they make us bunch of big promises that they dont intend to keep on the fuel issue?? Surely big promises of cheaper gas would get any one of them elected...

[stevebeilgard]

90% of americans, and the world, recognize that fuel is a limited commodity. only so much available. and, with a growing economy in china and a bunch more places, demand is higher than ever. so, limited supply times higher demand equals higher prices. pretty simple.

if you had a dozen ears of corn for sale at 5 dollars a dozen, and 6 different customers started a bidding war, you might get 10 or 12 dollars for your corn. and, if you could, you would. right? so are the oil companies with what they sell.

now, if you want to really thank someone, find a conservationist. you know, the ones who won't allow us to use neuclear power. the ones who won't allow offshore drilling. the ones who won't allow a new refinery for oil. the ones who will not allow us to drill in anwar, or most any place else. that causes an oil shortage, dependency on foreigh oil, and 110 dollar a barrel oil prices, which means 4 dollars at the pump. they are the real problem, not just the oil companies.

[wtnhunt]

90% of americans, and the world, recognize that fuel is a limited commodity. only so much available. and, with a growing economy in china and a bunch more places, demand is higher than ever. so, limited supply times higher demand equals higher prices. pretty simple.

if you had a dozen ears of corn for sale at 5 dollars a dozen, and 6 different customers started a bidding war, you might get 10 or 12 dollars for your corn. and, if you could, you would. right? so are the oil companies with what they sell.

now, if you want to really thank someone, find a conservationist. you know, the ones who won't allow us to use neuclear power. the ones who won't allow offshore drilling. the ones who won't allow a new refinery for oil. the ones who will not allow us to drill in anwar, or most any place else. that causes an oil shortage, dependency on foreigh oil, and 110 dollar a barrel oil prices, which means 4 dollars at the pump. they are the real problem, not just the oil companies.

Great explanation Steve. Unfortunately not as many people understand this as should.

[Jeramie]

90% of americans, and the world, recognize that fuel is a limited commodity. only so much available. and, with a growing economy in china and a bunch more places, demand is higher than ever. so, limited supply times higher demand equals higher prices. pretty simple.

if you had a dozen ears of corn for sale at 5 dollars a dozen, and 6 different customers started a bidding war, you might get 10 or 12 dollars for your corn. and, if you could, you would. right? so are the oil companies with what they sell.

now, if you want to really thank someone, find a conservationist. you know, the ones who won't allow us to use neuclear power. the ones who won't allow offshore drilling. the ones who won't allow a new refinery for oil. the ones who will not allow us to drill in anwar, or most any place else. that causes an oil shortage, dependency on foreigh oil, and 110 dollar a barrel oil prices, which means 4 dollars at the pump. they are the real problem, not just the oil companies.

That is 110% accurate and what ive been trying to explain to a lot of people lately.

China has more spendable money amongst its people than it really ever has in modern times. Cars are being imported at a crazy rate. Err Go, we fight for oil like two dogs over bread crumbs.

Also, OPEC (think middle east) is holding back on production. President Busch asked them about a month ago to step up production to stop the chance of recession in the US. They said, "Nope." Because the world market is fighting over every single barrel of oil.

There are a ton of places we could get oil domestically but its not going to happen, thank the tree huggers. Personally I dont see why we couldn’t rope off a 2 square mile area in Alaska, drill, and then demand its cleaned before the company is allowed to move on to another oil pocket.

[Jeramie]

Oh, and the one factor not brought into this yet, the waning dollar. The less the dollar is worth, the more of them it takes to buy oil. It’s a vicious cycle.

[Texan_Til_I_Die]

That's a very important point about the weakening US dollar. Oil is traded world wide in dollars. If the dollar shrinks, the price of oil goes up proportionally. If we take measures to strengthen the dollar, it will result in an instant decrease (for us) in the price of oil.

[Bowtech_archer07]

I hear ya. Gas around here jumped to $3.42 Wednesday :eek: Bout made me faint when I saw that price.

[JJL]

We're so desperate for fuel sources in the USA we've begun to burn our food.............ethanol.

In the meantine we have a 400 year supply of oil and gas right underneath of us and we are to "environmentally friendly" to drill for it.

I'm starting to agree with Reverand Wright.........--- ---- America.

[stevebeilgard]

i'll NEVER agree with that bum wright, and never say ..... america. never.

now, our politicians are another story.

[MUDRUNNER]

There are a ton of places we could get oil domestically but its not going to happen, thank the tree huggers. Personally I dont see why we couldn’t rope off a 2 square mile area in Alaska, drill, and then demand its cleaned before the company is allowed to move on to another oil pocket.

This makes perfect sense to me.I've been wandering for years why we are paying top dollar to foreign countries for something we have right here at home.

[wtnhunt]

Been questioning why we do not tap into our own resources for a couple years now. Tree huggers or not, there is no excuse for not tapping into our own resources and driving down the prices, would be a positive outcome all the way around.

[Guest Andrea]

Well I heard on the news the other day that Alabama, Louisiana,Mississippi and Florida were fixing to open up the drilling in the Gulf.( More drilling) They are scrambling with their bids right now. I'm all for drilling off shore here in the panhandle. Do you know how great the fishing is around an oil rig??

[terry264]

Heard on news yesterday that some "green" organization is suggesting the Feds raise the tax on fuel by 48% so as to decrease demand and raise funds to search for alternative fuels and reduce greenhouse gases to reduce "global warming". What a joke.

[Missilelock]

Theres a group trying a relatively new concept in drilling here in our county right now. The way I understand it, traditional drilling can only recover a very small percentage of the oil supply. These guys are drilling a tunnell down past the oil, Then horizontal under the oil deposit & somehow the oil deposit will run into the tunnell by gravity. Its supposed to be an extremely efficient way of drilling. does anyone else know anything about this?? I think they did it in wyomiing successfully allready.

[Texan_Til_I_Die]

http://www.geology.wisc.edu/courses/g115/oil/4.html

[VermontHunter]

Can you all say consumer RIP OFF !!

While Oil Companies and Inverstors draw in record breaking quarters .. but claim they are losing profits . :mad:

[JJL]

It's free market capitalism at it's best/worst.

If one has a problem with the cost of a product..........here's an Idea........limit your consumption.

I LOVE BEER............upon moving to Colorado from Illinois I quickly found out that a 30 pack of Busch Light was no longer $9.99.........here it's $29.99. I didn't whine/*****/complain.........I quit drinking.

The price of beef is sky high.............kill an elk.......simple.

It costs an average of $500.00 to take a family of four to a major league baseball game............go to a minor league game.....stay home and watch it on TV.

Gas will be $5.00/gal.........stay home, walk, ride a bike, or get a horse. If your work causes you to commute a long way and your gas expense is not re-imbursed...............get a new job.

Flexibility and adaptation is key..........learn to adjust, or be miserable. It's your call.

If you feel you have a right to cheap gas......guess again.......you don't.

This post is directed at no-one in particular..........just more mindless ramblings of JJL.

Have a Great Day.

[snapper]

Agree with Jim here...alot of folks forgot why this country is the greatest country...Capitalism PERIOD.

When did it become wrong to make money? Why does the greed of the ones who don't have the money feel its their right to have some of it?

Don't get me wrong, I hate paying these prices for gas...but I do and really don't complain about it...I sure the heck don't want our goverment doing anything about price fixing. Heck if that happens, we'll only to be allowed to get gas on odd and even days!

I really love when I hear folks like Hillary and Obama talk about the profits of Exxon mobile. They can preach it, because they know the average oatmeal filled head out there listening won't take the time to actually see who owns Exxon Mobile.

[Texan_Til_I_Die]

Here's a quote from an article I just read.

In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951.

The US imported about 14 million barrels of Oil per day in 2007, which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World. If 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 trillion, which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.

[Gator]

I can't complain. I plan on taking advantage of this oil boom as lonbg as I can. If it weren't this great, think of the unemployment rate would be. Drilling companies are employing ALOT of people right now.

[Jeramie]

I can't complain. I plan on taking advantage of this oil boom as lonbg as I can. If it weren't this great, think of the unemployment rate would be. Drilling companies are employing ALOT of people right now.

Yup! I work for an oil based company. I hear about poor economy everywhere but in Oklahoma its stable. Even the housing is in good shape here.

[Gator]

I was just in SW Wyoming last week. The town I was in is appears to be HEAVY with oil/gas industries. If something were to happen to our industrie, towns like that would be nothing.

[snapper]

I hear about poor economy everywhere but in Oklahoma its stable.

Funny...seems that the economy is doing well everywhere unless you listen to the media. Other than fuel prices and the rise of some other things...life hasn't changed much. Job is good (actually hiring), seems alot of places around here are hiring as well. Guess because folks have to pinch a little tighter to pay fuel prices...the rest of the economy has to go to the tank.

[Texan_Til_I_Die]

Funny...seems that the economy is doing well everywhere unless you listen to the media. Other than fuel prices and the rise of some other things...life hasn't changed much. Job is good (actually hiring), seems alot of places around here are hiring as well. Guess because folks have to pinch a little tighter to pay fuel prices...the rest of the economy has to go to the tank.

Either that or it's an election year and there's a Republican in the Whitehouse!

[stevebeilgard]

folks, we all must pay attention to the fact that some in america want america to go down the tubes. they resent that we are so successful. one way to do it is to stop things, such as drilling. hunting. travelling. making money.

you will hear over and over again about putting on a gas tax because we use too much. raising taxes will not put more oil in america. getting the oil out that we know is there, will. simple as that. write to your legislators, and complain.