Gas prices have nation fuming

thriftybob · May 21, 2007

Quote from ByLoSellHi:

More of our oil is imported from Mexico and Canada than the Middle East.

Gotta' love the flagrantly erroneous information that the media throws around and people simply reiterate...

Oil is an easily shipped commodity, as is gasoline, so it really doesn't matter where you are buying it from with relation to how that might affect price other than the shipping costs. Canada would be just as well off selling it to China or India for the same dollars.

The fact is that we are using silly amounts of fuel per person compared to the rest of the world, and buying it on credit which we never intend to repay. We'd be a lot better off long term living within our means.

hajimow · May 21, 2007

Quote from Comanche:

Gentlemen, it is the modern day arms for hostages! We are not short on crude at this moment, and crude is being supported through the incredible gas crack spreads. Gasoline is what is easy to control in this country by artificially constraining refining capacity. Look at where utilization runs in May for years back, until the last 2 years. Capacity is being held back to run gasoline, resulting in a strong crude price.

Why? Political play of course. We have a deal to keep terrorism off of our soil, in return we keep the barrel priced high to support these mid-east economies. Can't control crude directly as you can through the refined products. That is why we have had a dismal refining utilization rate for last 2 years AND why valero and the likes has delayed capacity expansion projects that were slated to be in construction awhile back.

Politicians can make some jack too in their "blind" trusts!!

Oil is up but that does not justify the current gas prices. Refineries are controlling the gas prices and not the exporting countries. It reminds me of Enron controlling the electricity in California and shutting down the generators to jack up the price.

version77 · May 21, 2007

Quote from thriftybob:

The fact is that we are using silly amounts of fuel per person compared to the rest of the world,

That's because everyone is driving around in SUV's and monster trucks
that are almost as big as the Semi's driving down the freeway.

ByLoSellHi · May 21, 2007

Quote from thriftybob:

Oil is an easily shipped commodity, as is gasoline, so it really doesn't matter where you are buying it from with relation to how that might affect price other than the shipping costs. Canada would be just as well off selling it to China or India for the same dollars.

The fact is that we are using silly amounts of fuel per person compared to the rest of the world, and buying it on credit which we never intend to repay. We'd be a lot better off long term living within our means.

Yes, oil is fungible.

That doesn't mean the media and political rhetoric about "lessening dependence on middle eastern oil" isn't hyperbole, and in fact, factually misleading.

Comanche · May 21, 2007

Quote from version77:

That's because everyone is driving around in SUV's and monster trucks
that are almost as big as the Semi's driving down the freeway.

How else are we going to get all the unnecesary shit we buy as a credit blowing, cosuming nation back to our over-sized McMansions?? Try to fit a couple of plasmas into a Cooper Mini.

TheDudeofLife · May 21, 2007

Quote from Comanche:

How else are we going to get all the unnecesary shit we buy as a credit blowing, cosuming nation back to our over-sized McMansions?? Try to fit a couple of plasmas into a Cooper Mini.

besides my $2,000 rims look stupid on a Prius.

Bingoking · May 21, 2007

There is plenty of oil. We need more refineries but everyone says: "not in my backyard." (I know, let's take our number one food source and make ethanol. Ya, that makes sense.)

Increasing the price at the pump thru taxes only hurts the lower and middle class. Then congressmen can grandstand and blame "big oil" just in time for the next election. They are real problem solvers aren't they, those congressmen.

Bob111 · May 21, 2007

Quote from Bingoking:

Increasing the price at the pump thru taxes only hurts the lower and middle class. Then congressmen can grandstand and blame "big oil" just in time for the next election. They are real problem solvers aren't they, those congressmen.

there plenty of alternatives , besides tax at the pump and "challenging" ethanol idea. progressive taxation based on engine displacement and newest diesel technologies just couple of them.