General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYO, crude oil is below $95 a barrel, how come my gas isn't $2.99 a gallon petro fuckers
you can jack my shit up but you can't help me buy food, douche bag uber-crooks.
http://www.usatoday.com/money/industries/energy/story/2012-05-14/oi-prices-5-14/54957170/1
Initech
(100,118 posts)My next vehicle is going to be either fully electric or plug in hybrid - the less gas I buy the better.
hlthe2b
(102,468 posts)back during JR's "hay day" and I doubt we'd see anything less than $3 at the pump. No speculation, indeed...
AngryAmish
(25,704 posts)Chicago is fucked
roguevalley
(40,656 posts)Politicalboi
(15,189 posts)For the gas stations to get the telegraph so they can adjust their prices. But for some reason, when the price goes up it's faster to change. Hmmmmm!
BadgerKid
(4,559 posts)Egalitarian Thug
(12,448 posts)OPEC games began in the early 70's. The oil companies made themselves a nice bogeyman and the sheeple bought it.
Drunken Irishman
(34,857 posts)So, it is moving down.
justabob
(3,069 posts)It took about a month to go from 3.99 to 3.50, but it seems the prices are still headed downward.
taught_me_patience
(5,477 posts)Gas went from $4.10 to $4.40 in the last week and a half.
Gold Metal Flake
(13,805 posts)Up 20 cents from last Wed to last Saturday. Boom. The local news said it was the changeover to summer blend.
ProdigalJunkMail
(12,017 posts)hack89
(39,171 posts)Indydem
(2,642 posts)The gasoline in the pumps now is $110 oil from February.
When oil spikes, gas prices spike because refiners and sellers have to hedge their bets against rising prices, but when the price drops they can't just assume that a momentary drop will allow them to lower prices.
Long term, the price will go down.
DainBramaged
(39,191 posts)I guess rants aren't allowed here anymore............
Do you think you have all of the answers?
snooper2
(30,151 posts)Myrina
(12,296 posts)Guess it really IS about how the oil futures/market is being played, not about 'supply/demand/cost-per-barrel'.
Oops.
zzaapp
(531 posts)What would happen if oil and gas were EXCLUDED from the commodities exchange. No more middle men, speculators,
or riff raff. The only problem I can see is that if it happened,
it might set a dangerous precedent by opening the door to any government (Dem or Repub) allowing them to dictate to the free market.
Thoughts ?
ProfessorGAC
(65,319 posts)The price volatility and the upward pressure became exacerbated when the refined product ended up on the same market, speculated upon by the same "investors", and became so commoditized that the daily price would not stabilize. So, it's being played both ends against the middle, and the consumer gets stuck in the middle.
I think making them take the refined goods off the exchange markets would pass constitutional muster because it effectively eliminated any possibility of companies competing on price. That makes it inherently anti-competitive.
GAC
I know, it's a very slippery slope, but like it or not, oil is the life blood of our Nation, and between the Oil companies AND the oil hustlers, we could eliminate at least one bunch of assholes from the equation.
ProfessorGAC
(65,319 posts)I don't know if de-commoditizing crude would pass consitutional muster. But, i don't think it needs to on the refined goods side, because that market makes the consumer pricing anti-competitive.
So, i'm saying YEAH let's get the finished product off the same market that drives the crude. It's a double whammy.
GAC
metalbot
(1,058 posts)Aside from the Constitutional issues, it's a global commodity. The people who trade futures on US markets today would simply do them on European markets, or South American markets.
zzaapp
(531 posts)ProfessorGAC
(65,319 posts)Congress has the right to pass tarriffs and excise taxes. Product refined here would have to be sold as direct market to wholesalers and not through any market, foreign or domestic.
Not saying it's simple, just not impossible.
GAC
zzaapp
(531 posts)thevoiceofreason
(3,440 posts)Price is about $2.94 today, down from a high a month or two ago of $3.43. It just takes time.
When crude prices started up last fall, RBOB trailed by about 1-2 weeks.
ProdigalJunkMail
(12,017 posts)they ratchet it up til we slow down and then ratchet back down...but not as low as the starting point.
sP
SoCalDem
(103,856 posts)there was a lot of grumbling, but people settled down pretty quickly... The oily-rags have $5 in their sights and they will slowly keep ratcheting it up until they hit it..
joshcryer
(62,280 posts)Craziness. Absolutely crazy.
onenote
(42,799 posts)Last edited Tue May 15, 2012, 11:09 AM - Edit history (1)
In 2007, gas was in the $3 range pretty much the entire year. The last time it was around $1.60 was after the economy crashed in early 2009. And the price of a gallon of crude at that time was around $40.
Wellstone ruled
(34,661 posts)bigwillq
(72,790 posts)I think I paid 3.97 the other day.
But CT has a lot of state tax in addition to the federal tax.
lumberjack_jeff
(33,224 posts)We are Devo
(193 posts)I'm seeing $4.55 for regular.
sabrina 1
(62,325 posts)$4.35 for regular in Ventura/Ojai area.
Maine23
(11 posts)$2.99 a gallon is cheap considering Poland spring bottled water costs half that and all they halve to do is run it out of the tap about 40 miles from me..
SoCalDem
(103,856 posts)if you get tired of being skinned
RobertEarl
(13,685 posts)They are hungry and the masses feed them.
Like pigs. Capitalist pigs.
I actually called someone that the other day.
It felt good.
onenote
(42,799 posts)Why would you expect gas to be under three dollars?
DainBramaged
(39,191 posts)meh
onenote
(42,799 posts)I wouldn't enjoy paying $2.99/gallon either, but you seem to be suggesting that when crude is at $94 dollars and change the price at the pump should be $2.99. Any basis for that in fact?
DainBramaged
(39,191 posts)don't respond
spanone
(135,915 posts)while getting tax breaks that other industries don't enjoy
FarCenter
(19,429 posts)The price of oil imports to the east, west and gulf coasts follows the Brent price, and that sets the price of refined product.
When the Seaway pipeline is reversed and the southern segment of the Keystone is completed, the glut of oil at Cushing, OK will be releived and refineries in the Midwest will no longer be making high profits from the price distortion.
NCTraveler
(30,481 posts)Skidmore
(37,364 posts)Frankly, Americans never push back on that and demand it. I'll give you an example of pricing that just drives me nuts.
I can go to the grocery store and buy Mom's Best rolled oats in the one lb. box and pay $1.28 for the box. I believe that product comes out of Minnesota. Next to it on the store shelf is the same sized box of Quaker Oats produced 20 miles north of my home which sells for $2.42. Guess which one I buy. And I called Quaker one day because it was just irritating me so much. As much as I'd love to support an Iowa product, they will not get me to buy oats and we use oats daily.
iloveObama12
(421 posts)But America Had To Go Out and Elect These 2 Clowns
Hubert Flottz
(37,726 posts)by way of the oil companies and their petro-chemical cousins.