Thread: Gas prices.

Good points crichison. To further one of them: Had the government stayed out of the whole ethanol / biofuels arena, it would have never made it out of the gate and simply died and fast and painless death...

Putting aside the mistakes of the past few years, the only viable and sensible answer for our current dilemma is to take a twofold approach, while we offer huge incentives for the development of alternative fuel sources.

First, we implement a very real and very workable conservation program. We had similar national "sacrifice" and unity when we needed to during WWI & WWII. With the right leadership, the American people could and would be convinced to cut back and use energy more conservatively and efficiently. We are the energy hogs of the world and it wouldn't take much to just cut back 10-20%. It could easily be done without a negative effect of the economy and with a minimal impact on our quality of life. But it would take leadership, the likes of which we haven't seen in years.

Second, we need to drill our own oil and increase refining capacity. I've touched on this in an earlier post, so I won't repeat myself. But rest assured, once the OPEC nations see these measures in place and that we are committed, watch what happens to the price of a barrel of oil.

The problem is that "WE THE PEOPLE" are all too willing to just let this stuff happen to us, without demanding that our politicians act (or get the hell out of the way), in the best interest of our security and economy.

And that's all I got to say about that...

Carry on!!

Our congress has pushed three trillion dollars into the world economy in the last eight years. (Repubs and Dems both). Dollar is tanking on the world market. You never read about this effect in the mainstream media. Most people are unaware this is the biggest reason gas prices a rising at its current slope.

Through legislation our Government has limited the number of oil companies. Small oil companies were unable to survive due to numerous laws imposed that they couldn't afford. Less competition = higher prices.
One back washes the other.

I have seven other items, but it's best I stop here.

G.

The oil prizes are over inflated and should really be in the $80 range which would bring gas prices down to around $1.45 a gallon but they have given there employees big raises and bonuses and now there stuck trying to pay them. There have been over 1000 new wells drilled in the US in the last year and a half. Big Oil Companies are pulling the wool over everyones eyes. This is also causing the price of Natural Gas to rise which is the business I'm in and that's gonna cause a lot of problems for us in the near future. We are regulated where gasoline isn't we can't recoop our cost as easily as the Oil Companies. I hope someone comes up with a solution soon it's already making me cut back on some of my fishing, and boy I really hate that. My 2cents!

Originally Posted by crappiecatcher06

The oil prizes are over inflated and should really be in the $80 range which would bring gas prices down to around $1.45 a gallon but they have given there employees big raises and bonuses and now there stuck trying to pay them. There have been over 1000 new wells drilled in the US in the last year and a half. Big Oil Companies are pulling the wool over everyones eyes. This is also causing the price of Natural Gas to rise which is the business I'm in and that's gonna cause a lot of problems for us in the near future. We are regulated where gasoline isn't we can't recoop our cost as easily as the Oil Companies. I hope someone comes up with a solution soon it's already making me cut back on some of my fishing, and boy I really hate that. My 2cents!

Even if oil was at $80 bucks a barrell it would be well over 1.45 per gallon. The price per barrell is based on like 42 gallons not 55 gallons and then it has to be refined and delivered which also makes the price rise. Even with over 1000 new wells drilled, it does not matter due to the fact we do not have the refinery capabilities and need to build more refineries. We havent built one in over 20 some years. We can drill all we want, which I think we need to do, but it wont do any good when we can only refine so much/

Originally Posted by crappiecatcher06

The oil prizes are over inflated and should really be in the $80 range which would bring gas prices down to around $1.45 a gallon but they have given there employees big raises and bonuses and now there stuck trying to pay them. There have been over 1000 new wells drilled in the US in the last year and a half. Big Oil Companies are pulling the wool over everyones eyes. This is also causing the price of Natural Gas to rise which is the business I'm in and that's gonna cause a lot of problems for us in the near future. We are regulated where gasoline isn't we can't recoop our cost as easily as the Oil Companies. I hope someone comes up with a solution soon it's already making me cut back on some of my fishing, and boy I really hate that. My 2cents!

Oh my, what to say about all of this. A famous and all-too-true quote goes something like this, "You are entitled to your own opinion but not your own facts..."

Let's start with the big, bad, mean old oil companies. Did you know that the oil companies could pay their top 1,000 executives no more than $50,000 per year and it wouldn't affect the price of gas by more than a penny or two per gallon, if that? Do you know where the vast majority of the "big oil" windfall profits go? You might want to take a look and see that after the government takes an obscene amount, as part of their wealth distribution program, the vast majority of it goes to stockholders. Who are "they"? Well, "they" are the pension funds for teachers, auto workers, carpenters, and thousands of folks hoping there will be something in their retirement funds when the time comes. "They" are the folks investing in their 401K's and Roth IRA's, college savings accounts and a host of other investments the average person uses, in planning for their futures... And, yes, some are the Warren Buffets of the world that know a good investment when they see it. You know, those evil people that start companies and create jobs.

Regarding the 1,000 wells, that is irrelevant. As cmcduck has stated and I stated earlier, there is no need for more oil we can't refine. In addition, you can drill an million new wells and it won't make a lick of difference, if you're not drilling over the best reserves. At this time, the environmental extremists have managed to hoodwink and threaten enough of the folks in Washington DC that the best areas for drilling will not be touched.

BTW, Kit Papermouth also has a very valid point, regarding the devaluation of the US Dollar. That has been a significant factor as well...

Originally Posted by sptsman

Oh my, what to say about all of this. A famous and all-too-true quote goes something like this, "You are entitled to your own opinion but not your own facts..."

Let's start with the big, bad, mean old oil companies. Did you know that the oil companies could pay their top 1,000 executives no more than $50,000 per year and it wouldn't affect the price of gas by more than a penny or two per gallon, if that? Do you know where the vast majority of the "big oil" windfall profits go? You might want to take a look and see that after the government takes an obscene amount, as part of their wealth distribution program, the vast majority of it goes to stockholders. Who are "they"? Well, "they" are the pension funds for teachers, auto workers, carpenters, and thousands of folks hoping there will be something in their retirement funds when the time comes. "They" are the folks investing in their 401K's and Roth IRA's, college savings accounts and a host of other investments the average person uses, in planning for their futures... And, yes, some are the Warren Buffets of the world that know a good investment when they see it. You know, those evil people that start companies and create jobs.

Regarding the 1,000 wells, that is irrelevant. As cmcduck has stated and I stated earlier, there is no need for more oil we can't refine. In addition, you can drill an million new wells and it won't make a lick of difference, if you're not drilling over the best reserves. At this time, the environmental extremists have managed to hoodwink and threaten enough of the folks in Washington DC that the best areas for drilling will not be touched.

BTW, Kit Papermouth also has a very valid point, regarding the devaluation of the US Dollar. That has been a significant factor as well...

I say that all the time sptsman- People would not be complaining about the profits gas companies are making if they owned stock in those companies and were getting large dividends right now. People need to remember, the high price of oil per barrell is what the gas companies are paying per barrell for oil to refine it. when you do the math at $126 per barrell they are paying $3 per gallon before they even refine it!! The answer to our problem is build refineries and drill our own oil in anwar and anywhere else we can find it. This will drive the price down and opec will have to lower their price also when we become more independent.

I want to say about gas prices well just ---oh I cant say it on here, Won't really stop me from fishing but sure has change my driving habits, to and from work and to the boat ramp.

Sorry I wasn't more clear with they, by that I mean all (oil) and oil related companies such as support and service companies as well. We have enough oil wells drilled (true) but we are still importing a majority of our oil we are refining as I understand it. And when oil companies post their quarterly profits. As I understand the word profit not earings, it means after all debts are paid which would include all taxes and pension funds they are still in the hundreds of millions if I recall the last report I heard.