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Rocky
I do agree the media twists things around. I would say they have as much to do with the knee jerk oil price reactions as anything.
Now, with the Middle East up in flames, quagmire in Iraq, BP Alaskan oil field shutdown, possible hurricane damage to oil facilities in the near future, and insatiable oil corporation greed, let's look forward to a substantial gas price climb. Again.
$3.15 for regular and $3.36 for Premium at our Costco. Many stations close to $3.50 for regular. Some stations in the county as low as $3.11.
So now our domestic oil company's have that excuse working for them. :sick:
Rocky
P.S. I think it's just a matter of time lemko, before we start to see $4 dollar gas pal, even with all the new drilling. :mad:
It also provides high paying jobs for Americans. US workers are in all parts of the world sending their paychecks home for momma to spend here in the USA. I think I just read that 50,000 American civilians are working in Iraq. Making the big bucks. The oil business is good pay. You may not be home with the kids every night.
I'm not sure it would do more than just stabilize supply. The issue is, do we want Cuba drilling 45 miles from Key West. They may not worry as much about spilling oil as we will. It will happen and probably sooner than later.
If it actually will lower my local gas price by a good chunk then I will be for it. :lemon:
Rocky
With this in mind they could sell all of their supply to other countries if they wish. I have wondered with all the US currency the Asian countries are holding why they don't buy the US oil companies on the free market.
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BP Oil Leak
New worry for drivers: BP shuts oilfield
Damaged pipeline in Alaska affects about 8% of U.S. oil production; record gas may be coming.
By Chris Isidore, CNNMoney.com senior writer
August 7 2006: 11:06 AM EDT
NEW YORK (CNNMoney.com) -- In a blow to drivers already struggling with high gasoline prices, BP was forced to shut about 8 percent of the nation's domestic oil production after discovering "unexpectedly severe corrosion" in its pipelines in Alaska.
BP announced early Monday that the pipeline problems had caused it to begin the first shutdown ever in the biggest oilfield in the United States, Alaska's Prudhoe Bay.
Part of the pipeline that ruptured in March leading to the worst spill on Alaska's North Slope. BP began shutting down Prudhoe Bay after it discovered a small spill and more than a dozen sections of severe corrosion on other pipelines in its field.
Oil futures, already near record highs hit in July, shot higher on the announcement, and gasoline futures also rose.
The shutdown could be the tipping point that push gasoline prices to a record high, said Tom Kloza, chief oil analyst at New Jersey-based Oil Price Information Service, noting prices are already close to record levels.
"Prices are likely to rise 3 to 5 cents a gallon for the next few days," he told CNN.
The average price for a gallon of unleaded regular stood at $3.036 on Monday, according to the survey that Kloza's firm conducts for AAA. The record high is $3.057, set Sept. 5, 2005, a week after Hurricane Katrina.
In trading Monday, U.S. light crude futures surged $1.54 to $76.30 a barrel on the New York Mercantile Exchange. Gasoline futures rose 3.35 cents to $2.2650 a gallon.
Also, what a coincidence that there's a problem with the BP pipeline when an above-3 dollar, more or less, ceiling has been reached. Now they can push above that with relative ease. It would appear that they made no effort to make preventative maintenance and now all we get is a "whoopsie" and a price hike.
WELL, I only hope they are not pulliing an Enron on us...that it is a true emergency.
Bright side is that more people will get accustomed to the high prices...and arrange their finances and choose their car purchases more carefully....
got rid of our 03' Expedition got about 16mpg on that and bought two Kia Spectras getting about 30 mpg on those
american auto makers better do something to start getting some of the market share back or they want need to worry about it they just keep pumping out the gas guzzlers GM and Ford would not buy don't care how much of a price break i could get when i would have to fill up ever five days i fill up in about 12 days now
One would think something like this would impact profits...but I'll wager an awful lot of money the only impact seen will be positive (for their pockets).
BTW, I just reached a personal record. I paid $ 43 and change to fill up my '99 Mazda 626 tank yeasterday. I remember spending $ 17 to fill it up when I bought the car.
http://money.cnn.com/2006/08/07/news/economy/gas_prices/index.htm
That's not really and "awfully huge" increase.
P.S. And the worst problem the USA had in 2000 was not ML either.
Read message #4: March 2000. Less than $ 1.50/gallon for regular. That's less than half of what we pay today.
There are a lot more factors driving prices high now than there were back then. So we are still getting a bargain, especially comparatively to the rest of the civilized world.
The higher the better if you ask me. Forces more people to conserve and carpool and bus and bike and Segway and buy smaller cars.
Well, why don't you send a check for $ 100 to your favorite oil company executive charity every time you fill up?
How much of that is tax? I'll have to check our pump here for the total tax, state and federal, on our gallons. I think it's about 50 cents.
2014 Malibu 2LT, 2015 Cruze 2LT,
Rocky
Um, are you being facetious?
My point is not "the higher the better to make the oil companies richer" but is instead:
The higher the better to encourage people to STOP DRIVING SO MUCH.
Will big oil be forced to invest in the maintenance of their infrastructure now? They suck up all this unjustifiable and amoral corporate welfare and still won't act responsibly. Some of these guys need to be put in a world of hurt.
Plant closing for repainting of storage tanks - gas prices expected to go up 20 cents at 5 manufacturers!(never mind that BP has nothing to do with Conoco)
Pipeline being repaired for the first time in a decade! Prices skyrocket!
One oil rig damaged in hurricane(never mind the hundreds in the past decades) - this time, it's going to cripple everything! Stop the presses!
Investing in infrastructure already hapens - the just make a lot of smoke and noise about it as they spike the prices.
BP Pipeline
I like how they state "gap in maintenance"...
I thought it would be less down there than here in the west suburbs near work.
But that's still less than Chi-town and downtown Chi (even though that's not saying much) :sick:
Gas prices reached $1.40 for regular back at the start of Reagan's presidency (1981), but receded to as low as 75 cents/gallon in the spring of 1986 (I still have my old handwritten logs).
They spiked again to just around $1.50 or so in 1990 when Saddam invaded Kuwait, but by that halcyon year of 1999 (before 9/11, Bush, Sharon, and Iraq war #2), I was again paying under 85 cents.
It wasn't until April 2005 did I pay more than $2.00 per gallon. Throughout the bulk of this 14-year period (1981-2005), I paid maybe $1.20-$1.30 or so on average for 87 no-lead. (All prices are in then-current dollars, not adjusted for inflation.)
If the oil companies were so greedy and heartless, how did they "allow" prices to come down and stay down so much since 1981 (until the recent runup in the last couple of years)?
Yeah, it'd be nice to go back to the days when Monica Lewinsky and Y2K issues were our biggest worries! Ain't gonna happen though!
Ofcourse today back in Toronto, its $1.07 per litre which still is high (3.8 litres = 1 gallon = $4 )
What puzzles me is how much it fluctuates during one day. Come morning when motorists are getting ready to go to work, its high and come night, its low. Last night it was $1.02 per liter.
And how much of that is taxes? Remove taxes before you compare actual prices between Canada and US.
2014 Malibu 2LT, 2015 Cruze 2LT,
8/94 1.30
8/95 1.40
8/96 1.46
8/97 1.52
8/98 1.26
8/99 1.50
8/00 1.80
8/01 1.58
8/02 1.52
8/03 1.80
8/04 1.95
8/05 2.40
8/06 2.93
That it has risen so sharply in the last few years is what has drivers frustrated, however, in comparison to prices of other items such as food and housing, it is still underpriced. Above prices were recorded as paid in SW WA.
It's twice as expensive as four years ago - and half of our oil didn't just dry up in that time, either.
Rocky
Big Problems
Bullcrap Propaganda
Busted Pipes
Bumps Prices
Bush's Pet
From the Philadelphia newspaper:
http://www.philly.com/mld/inquirer/news/editorial/15229016.htm
Rocky
Check this out:
Wagoner Not Worried
me: In 1985 I remember paying about $1.25/gal. I was out of college for a few years. I'm making about 3 times what I was then, working in manufacturing. I guess I've made more with experience, but in my case salary has kept up with gas prices.
I see no major difference yet in the amount of traffic on the roads around here. I work with a lot of people who still drive their PU's to work and haven't traded them in on Civics. The people complain about the gas price increase, which is perfectly logical. I'll BELIEVE they are being inconvenienced when they actually take ACTION.
Name brand 93 octane is running about $3.16 here in NH. 87 can be had for $2.92.