The price of oil has risen 50% since Christmas Day. Kinda sneaks up. Gasoline is trading at $1.95. Meanwhile sanctions on Iran and Venezuela are producing expected results.
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What's going on with gas prices?
- Thread starter grampi
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GON
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Yesterday I flew from SLC to DFW, sat next to a senior oil field manager. His company "owns" their fields, mineral rights, etc. He stated they were a mid level player.
What was surprising is what they do with the oil they extract from the ground. Their fields are south of San Antonio. They ship the oil to Mexico. I asked, by rail or truck. He said neither- they have a pipeline to Mexico. Who would of guessed.
I am starting to wonder is we are shipping crude oil out of CONUS to keep prices in CONUS up. I will say, for the first time in my memory, that the price of unleaded in Houston is more than it is in Salt Lake City. About .15 higher in Houston, it use to be Houston had quite a discount compared to the Midwest or Rocky Mountain states (except after a hurricane).
What was surprising is what they do with the oil they extract from the ground. Their fields are south of San Antonio. They ship the oil to Mexico. I asked, by rail or truck. He said neither- they have a pipeline to Mexico. Who would of guessed.
I am starting to wonder is we are shipping crude oil out of CONUS to keep prices in CONUS up. I will say, for the first time in my memory, that the price of unleaded in Houston is more than it is in Salt Lake City. About .15 higher in Houston, it use to be Houston had quite a discount compared to the Midwest or Rocky Mountain states (except after a hurricane).
Originally Posted by GON
Yesterday I flew from SLC to DFW, sat next to a senior oil field manager. His company "owns" their fields, mineral rights, etc. He stated they were a mid level player.
What was surprising is what they do with the oil they extract from the ground. Their fields are south of San Antonio. They ship the oil to Mexico. I asked, by rail or truck. He said neither- they have a pipeline to Mexico. Who would of guessed.
I am starting to wonder is we are shipping crude oil out of CONUS to keep prices in CONUS up. I will say, for the first time in my memory, that the price of unleaded in Houston is more than it is in Salt Lake City. About .15 higher in Houston, it use to be Houston had quite a discount compared to the Midwest or Rocky Mountain states (except after a hurricane).
They will sell their oil to the highest bidder. If that's Mexico, that's where it's going to go.
Yesterday I flew from SLC to DFW, sat next to a senior oil field manager. His company "owns" their fields, mineral rights, etc. He stated they were a mid level player.
What was surprising is what they do with the oil they extract from the ground. Their fields are south of San Antonio. They ship the oil to Mexico. I asked, by rail or truck. He said neither- they have a pipeline to Mexico. Who would of guessed.
I am starting to wonder is we are shipping crude oil out of CONUS to keep prices in CONUS up. I will say, for the first time in my memory, that the price of unleaded in Houston is more than it is in Salt Lake City. About .15 higher in Houston, it use to be Houston had quite a discount compared to the Midwest or Rocky Mountain states (except after a hurricane).
They will sell their oil to the highest bidder. If that's Mexico, that's where it's going to go.
Originally Posted by dave1251
Originally Posted by grampi
The way you guys talk, they might as well just raise the price to $10 a gallon...if you want to get rid of your money this badly, you can send it to me instead of paying for oil exec's lavish pensions...
This is another post which makes no sense two in 15 minutes. It must be a crazy day in the world.
Have you not read any of the posts in this thread? Most people in here don't seem to care about gas price gouging...
Originally Posted by grampi
The way you guys talk, they might as well just raise the price to $10 a gallon...if you want to get rid of your money this badly, you can send it to me instead of paying for oil exec's lavish pensions...
This is another post which makes no sense two in 15 minutes. It must be a crazy day in the world.
Have you not read any of the posts in this thread? Most people in here don't seem to care about gas price gouging...
More important things in life to worry about gas prices.
Pull up.... Fill up.... Drive away.
Pull up.... Fill up.... Drive away.
Originally Posted by GON
I am starting to wonder is we are shipping crude oil out of CONUS to keep prices in CONUS up. I .
Welcome to economics 101. Are you and grampi twins?
Originally Posted by grampi
Big oil just loves people like you...
What is BIG OIL?
BTW if you think these guys are getting fat go online and buy "USO" ETF https://etfdb.com/etf/USO/
Didn't think so..you just wanted to btch
I am starting to wonder is we are shipping crude oil out of CONUS to keep prices in CONUS up. I .
Welcome to economics 101. Are you and grampi twins?
Originally Posted by grampi
Big oil just loves people like you...
What is BIG OIL?
BTW if you think these guys are getting fat go online and buy "USO" ETF https://etfdb.com/etf/USO/
Didn't think so..you just wanted to btch
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Originally Posted by grampi
Originally Posted by Mr Nice
More important things in life to worry about gas prices.
Pull up.... Fill up.... Drive away.
Big oil just loves people like you...
Grampi, it's not worth the frustration of trying to understand why. I suspect you lived during the seventies. Not only was gasoline expensive but it was rationed. Ten gallon limit and only on your approved day to buy fuel. Most here have never experienced anything like that.
The experience of that told me to adapt. I don't focus on fuel economy solely when buying a vehicle but it is part of the requirement I set. My driving routine saves more gas. I am a light foot driver plus I combine trips. I keep my tires properly inflated.
In the grand scheme of things gas prices are just one aspect of car ownership. It's getting more and more expensive to own a car. Taxes and registration. Licenses. The new Pay to Play toll schemes on the freeways (which I don't use) and many more.
So I either adapt or find another way.
Originally Posted by Mr Nice
More important things in life to worry about gas prices.
Pull up.... Fill up.... Drive away.
Big oil just loves people like you...
Grampi, it's not worth the frustration of trying to understand why. I suspect you lived during the seventies. Not only was gasoline expensive but it was rationed. Ten gallon limit and only on your approved day to buy fuel. Most here have never experienced anything like that.
The experience of that told me to adapt. I don't focus on fuel economy solely when buying a vehicle but it is part of the requirement I set. My driving routine saves more gas. I am a light foot driver plus I combine trips. I keep my tires properly inflated.
In the grand scheme of things gas prices are just one aspect of car ownership. It's getting more and more expensive to own a car. Taxes and registration. Licenses. The new Pay to Play toll schemes on the freeways (which I don't use) and many more.
So I either adapt or find another way.
Originally Posted by grampi
Originally Posted by Mr Nice
More important things in life to worry about gas prices.
Pull up.... Fill up.... Drive away.
Big oil just loves people like you...
What can I do..... ride a bicycle everywhere ???
Originally Posted by Mr Nice
More important things in life to worry about gas prices.
Pull up.... Fill up.... Drive away.
Big oil just loves people like you...
What can I do..... ride a bicycle everywhere ???
As the owner of three cars that aren't exactly good on gas plus the large amount of driving I do, I buy a lot of gas. But I don't stress over gas prices... Just try to balance price vs convenience... Thankfully the Arco across the street from my work is fairly low on the price spectrum.
Most people in this thread have figured out that:
Products traded on a worldwide, open market generally are hard to claim anyone is being gouged. You may not like what the markets are doing, but that doesn't make it gouging.
While the total profits made in big oil are huge, the profit margin is generally a lot lower than many other businesses - just the scale generates the dollars.
Oil is traded on a worldwide market and our oil (and finished products too) can and are sold where money can be made - which can and does raise our prices at times.
Don't like paying market fuel prices? Then:
Buy the most fuel efficient car you can tolerate
Switch to an Electric Car
Participate (or operate your own) in a Fuel Bank. Google First Fuel Banks in St. Cloud.
Spending time complaining on a regular basis about being gouged does none of the above.
Products traded on a worldwide, open market generally are hard to claim anyone is being gouged. You may not like what the markets are doing, but that doesn't make it gouging.
While the total profits made in big oil are huge, the profit margin is generally a lot lower than many other businesses - just the scale generates the dollars.
Oil is traded on a worldwide market and our oil (and finished products too) can and are sold where money can be made - which can and does raise our prices at times.
Don't like paying market fuel prices? Then:
Buy the most fuel efficient car you can tolerate
Switch to an Electric Car
Participate (or operate your own) in a Fuel Bank. Google First Fuel Banks in St. Cloud.
Spending time complaining on a regular basis about being gouged does none of the above.
" Spending time complaining on a regular basis about being gouged does none of the above. "
Yep. Why be bitter over something sooooo unimportant.
Yep. Why be bitter over something sooooo unimportant.
Originally Posted by Mr Nice
" Spending time complaining on a regular basis about being gouged does none of the above. "
Yep. Why be bitter over something sooooo unimportant.
True.
" Spending time complaining on a regular basis about being gouged does none of the above. "
Yep. Why be bitter over something sooooo unimportant.
True.
Hey, our carbon tax just kicked in. 5 cent rise overnight in gas and 6 in diesel. Whats great about that is in order to help the environment with a carbon tax is that it gets returned to the lower income households on income tax. Maybe economics has changed in the 18 years since I had taken it in university.
Originally Posted by Mr Nice
" Spending time complaining on a regular basis about being gouged does none of the above. "
Yep. Why be bitter over something sooooo unimportant.
How is the rising price of fuel unimportant? You do know that when fuel prices go up, so does the price of everything else, right? I wish I had a money tree in my back yard so things like this wouldn't matter to me either...
" Spending time complaining on a regular basis about being gouged does none of the above. "
Yep. Why be bitter over something sooooo unimportant.
How is the rising price of fuel unimportant? You do know that when fuel prices go up, so does the price of everything else, right? I wish I had a money tree in my back yard so things like this wouldn't matter to me either...
Originally Posted by Mr Nice
Originally Posted by grampi
Originally Posted by Mr Nice
More important things in life to worry about gas prices.
Pull up.... Fill up.... Drive away.
Big oil just loves people like you...
What can I do..... ride a bicycle everywhere ???
No, and the oil industry knows this...hence the reason they can get away with charging whatever they want for their fuel...
Originally Posted by grampi
Originally Posted by Mr Nice
More important things in life to worry about gas prices.
Pull up.... Fill up.... Drive away.
Big oil just loves people like you...
What can I do..... ride a bicycle everywhere ???
No, and the oil industry knows this...hence the reason they can get away with charging whatever they want for their fuel...
Originally Posted by MNgopher
Most people in this thread have figured out that:
Products traded on a worldwide, open market generally are hard to claim anyone is being gouged. You may not like what the markets are doing, but that doesn't make it gouging.
While the total profits made in big oil are huge, the profit margin is generally a lot lower than many other businesses - just the scale generates the dollars.
Oil is traded on a worldwide market and our oil (and finished products too) can and are sold where money can be made - which can and does raise our prices at times.
Don't like paying market fuel prices? Then:
Buy the most fuel efficient car you can tolerate
Switch to an Electric Car
Participate (or operate your own) in a Fuel Bank. Google First Fuel Banks in St. Cloud.
Spending time complaining on a regular basis about being gouged does none of the above.
Oil trading operates in a cartel market, which is not the same as a true open, free market, which is why we see the huge price swings all the time...
Most people in this thread have figured out that:
Products traded on a worldwide, open market generally are hard to claim anyone is being gouged. You may not like what the markets are doing, but that doesn't make it gouging.
While the total profits made in big oil are huge, the profit margin is generally a lot lower than many other businesses - just the scale generates the dollars.
Oil is traded on a worldwide market and our oil (and finished products too) can and are sold where money can be made - which can and does raise our prices at times.
Don't like paying market fuel prices? Then:
Buy the most fuel efficient car you can tolerate
Switch to an Electric Car
Participate (or operate your own) in a Fuel Bank. Google First Fuel Banks in St. Cloud.
Spending time complaining on a regular basis about being gouged does none of the above.
Oil trading operates in a cartel market, which is not the same as a true open, free market, which is why we see the huge price swings all the time...
Grampi, I think you need to finally go buy that 'Vette, and get out and enjoy yourself.
In a booming economy, there is more demand for oil. The price is going to go up...
In a booming economy, there is more demand for oil. The price is going to go up...
Maybe he can disconnect 4 coil packs and drive his Vette in ECO mode.
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