Posted on 05/07/2009 7:06:55 AM PDT by Talkradio03
Can they still blame Bush and his ties to the Oil industry? Maybe it's Dick Cheney and Halliburton. The lib media is uninterested, but oil is up big, and there's not a Republican in sight they can blame it on...
(Excerpt) Read more at hotairpundit.blogspot.com ...
My fualt. I built a diesel-powered blender.
http://www.theonion.com/content/news/green_conscious_ge_develops_hybrid?utm_source=infocus
Seems to me gas price increases are out pacing the actual increase in oil prices.
Yes. This is weird. I remember hearing recently that oil tanks are full, ships are being used to hold oil offshore, there is too much supply, world usage is down, yet prices are going up? Who or what is manipulating the market?
A few more increases and will have the summer driving season shut down again
Gas prices in the Memphis area has topped $2.05 as of Tuesday. If that is true about the oil being held in tankers offshore, then my feelings about being gouged is further reenforced. zer0 and the dimoCRACKS are in power now. They can take all the blame for this increase. They can leave Bush and the Republicans out of it this time. It’s their show now. My tagline is a further comment on this.
Yep.
$2.29 here in Cleveland area. Really starting to suck again. I have a bad feeling about this.
The enemy can't seem to really get a prybar into our damned tenacity on this stupid freedom and liberty thing.
We haven't been sufficiently scared nor angered by the corporate meltdown ... cigarettes are up in price ...
But our cars!
Our beloved cars. Now there's a target all of us can feel.
“Seems to me gas price increases are out pacing the actual increase in oil prices.”
Actually, it’s the reverse. Because of the long “thru-put” of oil from production to refinery (exacerbated this time because refiners had been previously buying oil to try stay ahead of rising prices, resulting in a glut), current gasoline is refined with oil from 6 or more months ago.
As the glut (which is financed and they want to get rid of) is worked off, the price is kept artifically low, as refiners are trying to get rid of inventory.
The market is stablizing now.
(Yes, I owned a refinery and currently own oil production and marketing businesses.)
I think they are priming us for all the carbon taxes they plan to implement. The lament when gas prices were high last year was not the price they were at, it was how fast they went there.
They feel 4 to 5 per gallon is the right price range, it just cannot happen overnight. They have to do it incrementally or they will crash the economy too fast. Expect it to continue its upward climb, albeit more slowly.
Thanks for the clarification. The .20+ increase in a day, however, is odd.
“If that is true about the oil being held in tankers offshore, then my feelings about being gouged is further reenforced. zer0 and the dimoCRACKS are in power now. They can take all the blame for this increase.”
Well, it’s kinda true and kinda false, and no one is manipulating anything.
Yes, some crude producers are holding oil because no one is buying. And some refiners (who bought a bunch of oil as price was rising, trying to stay ahead of the rising price) are sitting on gluts of oil in tanks.
That said, oil has been, within three standard deviations (on medium and long term) at exactly 3 times the cost of production, since price has been tracked since the 1920s.
Because of the thru-put (time from thinking about finding oil, putting a bit in the ground, to getting it to a refinery) this price will spike (temporaily) way high (because there is no supply) and way low (because there is a glut).
Right now we are working through a “glut.”
The price of production, per barrel, btw, averages $25-28 dollars.
Oil is thus, as it has for 100 years, on a course for $75.
It will overshoot this slightly, then come back, go a little low, then back, finally settling at around $70-80/bbl.
It’s not a mystery, and everyone in the industry knows this.
More FUD from the Obama administration.
When are Americans going to wake up and realize all this fear is being purposely generated so we will come running to the government crying, “Save us!”?
Swine Flu. Flyover NYC. Gas prices going up again. Financial collapse. Housing collapse. Massive deficit spending with no end in sight. Apologizing to everyone. Appointing criminals and lobbyists (sorry for the redundancy) to cabinet level positions.
I don’t think this is going anywhere. The economy isn’t nearly as healthy as the media propagandists are trying to make it appear. There will probably be a price bump, but it won’t be like last year.
If you think it’s high now, wait until Israel hits Iran’s nuke stuff. Keep your gas tank(s) full!
Even better, ‘we can’t let the greedy oil industry continue so the government will take it over like they did GM.’
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