Gas Price Increase More Than 50 Cents in 2 Months

[rw19]

Oil consumption has gone up what 30x since the 70s? When you say relatively new you act like the 70s was only a few years ago. That was a long long time ago. I bet half the posters on this forum werent around in the 70s. Supply and Demand is why oil prices have gone up. And expect 250 dollar a barrel oil within the next 8 years.

 

[rw19]

Adding ethanol in gas is a stupid idea. Why ruin the land by adding corn crops. That will increase food prices by 1000% precent across the board and make the land deficient within a few seasons. Shell didnt make GTL for motor oils. Do some research you will be surprised with what GTL will bring. Right now I believe you can make diesel from NatGas at around 2 dollars a gallon! There are huge Nat Gas supplies. Soon we will be automotive fuel from Nat gas. They have started with jet fuel already. Now jet fuel is at decade lows.

 

[Merkava_4]

Originally Posted By: kschachn

I have a better idea that doesn't require changing cars at all and has no impact on the existing infrastructure whatsoever. How about we just drill for more of the oil that we know is here in the US, and permit it to flow freely to the market? Seeing how we have a boatload of oil here in the US it seems like a lot easier than any other "solution".

The oil companies have no interest in flooding the market with oil for the purpose of bringing prices down as mentioned previously by skyactiv:

Originally Posted By: skyactiv

Oil companies are thinking it makes no sense to build new wells or new refineries only to flood the market with oil, which would lower the price of crude and refined fuels and yield zero return on the investment. Cant put 100% of the blame in Wash .

 

[Merkava_4]

Originally Posted By: Miller88

Who will be paying for me to buy vehicles that can run on 100% ethanol? Gas *might* be cheaper, but buying something that can run on ethanol won't. My Cherokee would probably get single digit gas mileage. Food prices would be through the roof.

You would just continue to drive your Cherokee until the availably of E100 and the vehicles that run on it were attractive enough for you to make the switch. Vehicles optimized to run on E100 by having higher compression ratios and direct injection get better fuel mileage and have more horsepower than their gasoline powered counterparts. Food prices are already going through the roof. Vehicles used to transport food are run on expensive diesel fuel. A pound of mozzarella cheese is $5 now. http://www.e100ethanolgroup.com/E100_Engines_and_Vision.html#textpicture

 

[grampi]

Originally Posted By: rw19

Oil consumption has gone up what 30x since the 70s? When you say relatively new you act like the 70s was only a few years ago. That was a long long time ago. I bet half the posters on this forum werent around in the 70s. Supply and Demand is why oil prices have gone up. And expect 250 dollar a barrel oil within the next 8 years.

Supply and demand sets the base price, speculators add to it by acting as middle men...and your $250 bbl prediction is asinine...no country's economy will be able to afford prices that high, and the oil companies have to be able to sell their product to make money...and oil production has been around for over 100 years, so yes, speculation is still relatively new to the industry...

 

[Huie83]

Originally Posted By: Miller88

Originally Posted By: Huie83

Originally Posted By: Merkava_4

What we need is E100.

AGREED. with the current gas prices my cost per mile is less per mile with E85 than 87 octane. If we had E100 ( or whatever it would be called) i'd imagine the price would be even lower.

Who will be paying for me to buy vehicles that can run on 100% ethanol? Gas *might* be cheaper, but buying something that can run on ethanol won't. My Cherokee would probably get single digit gas mileage. Food prices would be through the roof.

I did a report in college on this: http://en.wikipedia.org/wiki/Ethanol_fuel_in_Brazil Their are other ways to get ethanol besides corn, we just don't practice it here because corn is cheap. IMO, we could find ways to wean ourselves off gas a bit, I'm not quite sure why everyone thinks fuel derived from oil is the only economical way to run a car. It may have to do with Oil companies putting blinders on the general public. I lose maybe 2-3 MPG running E85 in my FFV's. Right now with the gas prices so high it works out cheaper per mile than gas, just have to do the math to see if it's worth it in your vehicle.

 

[kschachn]

It's not the (traditional) oil companies going after oil these days.

Originally Posted By: Merkava_4

The oil companies have no interest in flooding the market with oil for the purpose of bringing prices down as mentioned previously by skyactiv:

 

[PhillipM]

It's been coming down for quite a while here, so I'm not entirely sure speculators and Crimea are to blame...

 

[strat81]

Something else that is getting lost in this discussion is the value of the US dollar. Your dollars are worth less, making fuel, food, and everything else cost more. Wars (and the threat thereof), inflation, demand, supply, taxes, speculators... all of them may effect the price of any commodity, gasoline included.

 

[grampi]

Originally Posted By: PhillipM

It's been coming down for quite a while here, so I'm not entirely sure speculators and Crimea are to blame...

Must be nice, prices here have been doing nothing but going up...

 

[PhillipM]

Originally Posted By: grampi

Originally Posted By: PhillipM

It's been coming down for quite a while here, so I'm not entirely sure speculators and Crimea are to blame...

Must be nice, prices here have been doing nothing but going up...

I'll take your prices over mine, even if yours are going up...

 

[hattaresguy]

Originally Posted By: strat81

Originally Posted By: hattaresguy

Speculators are driving up the price because of the Crimea situation. Which is why they should do away with oil future trading unless you take actual delivery.

Why not become a speculator yourself?

Not my cup of tea real estate is my game. But I know a couple of guys who do it, and they seem to make out pretty good trading commodities. Grampi's .50 cent a gallon price premium seems about right, that's the figure I keep hearing speculators are adding to the base price of fuel. Plus or minus of course it changes daily based on events.

 

[hattaresguy]

Originally Posted By: Merkava_4

What we need is E100.

No E0 is what we need. Ethanol is the biggest scam the farm lobby has dumped on the American people.

 

[hattaresguy]

Originally Posted By: PhillipM

It's been coming down for quite a while here, so I'm not entirely sure speculators and Crimea are to blame...

In the US speculators are costing me about $.14 cents a gallon now thanks to the Crimea situation.

 

[grampi]

Originally Posted By: hattaresguy

Originally Posted By: strat81

Originally Posted By: hattaresguy

Speculators are driving up the price because of the Crimea situation. Which is why they should do away with oil future trading unless you take actual delivery.

Why not become a speculator yourself?

Not my cup of tea real estate is my game. But I know a couple of guys who do it, and they seem to make out pretty good trading commodities. Grampi's .50 cent a gallon price premium seems about right, that's the figure I keep hearing speculators are adding to the base price of fuel. Plus or minus of course it changes daily based on events.

Of course the middle men gotta get their cut!

 

[grampi]

Originally Posted By: hattaresguy

Originally Posted By: PhillipM

It's been coming down for quite a while here, so I'm not entirely sure speculators and Crimea are to blame...

In the US speculators are costing me about $.14 cents a gallon now thanks to the Crimea situation.

They're costing you a lot more than that...

 

[Merkava_4]

Originally Posted By: hattaresguy

Originally Posted By: Merkava_4

What we need is E100.

No E0 is what we need. Ethanol is the biggest scam the farm lobby has dumped on the American people.

There's one thing for certain in favor of E100: The price would NOT be affected by world politics.

 

[Merkava_4]

Originally Posted By: Huie83

I'm not quite sure why everyone thinks fuel derived from oil is the only economical way to run a car. It may have to do with Oil companies putting blinders on the general public.

+1

 

[grampi]

Originally Posted By: Merkava_4

Originally Posted By: Huie83

I'm not quite sure why everyone thinks fuel derived from oil is the only economical way to run a car. It may have to do with Oil companies putting blinders on the general public.

+1

Of course, why would the oil companies want any competition? They'd much rather have a monopoly on what we use to power our vehicles so they can continue to charge us $4+ a gal for their fuel and keep their CEOs and top execs living the luxurious lifestyles they live...

 

[whip]

Am I the only one that sees the irony of people complaining about fuel prices also posting in another thread about using WOT at least once or twice a day? We are a spoiled society.