Posted on 09/14/2006 6:29:21 AM PDT by kellynla
1.99 Caseys 1310 A Ave West Oskaloosa, IA
(Excerpt) Read more at iowastategasprices.com ...
Why is Iowa always so cheap? Tom Harkin have oil connections?!!
well don't look now but Houston hit 1.99 tonight.
and IA hit 1.97
I'm just waiting to see if this continues through the weekend...
$3 gas bad for Joe 6pak?
It is when $3 can only buy one beer out of the six-pack. But to your point that if gas prices are high enough, then we are able to put in production our own resources, is like if the japanese price their hondas out of the market, maybe the U.S. auto companies can make finally make a buck. Doesn't jive. We need to make it easier for our companies to build oil production and refining capacity locally. So that volatile overseas markets affect us less, and to tell Chavez to shove it.
"well don't look now but Houston hit 1.99 tonight.
and IA hit 1.97
I'm just waiting to see if this continues through the weekend..."
Ha ha. But how is diesel doing? After everyone went out and bought a TDL Jetta? Woo boy, that was a fast one and a smooth head fake. You couldn't find a diesel jetta at any used car lot anywheres. A bunch of people were played like drums, and I was almost one of them.
$ 2.71 in LV today, and going south fast.
I don't know about your area but I posted an article today that CA refineries are loaded with diesel...which ya know the ol' supply & demand story...so the price of diesel in Cali should be falling too...I know my 18 wheeler buds will be stoked about that.
Because the refineries in Contra Costa County, Kern County and Los Angeles County switched to low-sulfur fuels earlier this year and with the huge surplus of fuel, I expect the price of all fuels to really start dropping like stone in water over the next few months. The possibility of US$1.99/US gallon for 87 octane unleaded in California by the end of October 2006 may no longer be such a far-fetched proposition.
"The possibility of US$1.99/US gallon for 87 octane unleaded in California by the end of October 2006 may no longer be such a far-fetched proposition."
Sweeeeeet...we can only hope you're right!
This is a Neocon Bush trick to buy votes lol
I hope that's sarcasm. You don't really believe that whole gouging by oil companies Dem crap ? It's not gouging when your margins are less than vast majority of other industries. They make the billions because they sell billions of gallons of fuel. And yes, China has been sucking a lot more commodities on the market. Not just oil, but copper, iron, zinc, silver, gold... pretty much everything.
It's Bush's fault!
Now you know why my folks moved from Hollis, ME to Charlotte, NC.
Sounds great. Let somebody develop it without my tax dollars.
When whale oil was hideously expensive, dangerous to harvest and (though we didn't know it at the time) putting the great whales on the path to extinction, refiners like Rockefeller not only realized that kerosene could replace it, but took the necessary steps to set up infrastructure and cut prices to the bone so that even the poorest could afford it.
Government subsidies for research should only exist where only government can do the research (such as, arguably, in space) or where there is an immediate and drastic public concern that demands a lot of money ASAP. This should be especially true in energy, because research that is acted on by market pressure will turn out a product that the market will buy.
I can't help thinking of the difference between the Great northern and the rest of the major railroads in second half of the 19th Century...just passed that section of "A Patriot's Guide," BTW.
If your price gouging comment was sarcasm, good stuff. If not, get thee to an economics class...and read this column I wrote on the subject this summer:
The Democrats and Republicans continued their race to the bottom this week, and for a while they wish to run on the same track. Democrats spouted their annual pretended outrage at gas prices, and this time the GOP joined them, with Senate Leader Frist, Speaker Hastert and President Bush all rushing to call for another fruitless price gouging investigation. While we wait for the Beltway bloviators to call for repeal of the law of supply and demand, let’s look at eight facts they don’t seem willing to discuss.
1. The big oil companies recently posted record profits, but they also recently reported record sales. Funny how those two things go together, isn’t it?
2. Big Oil makes roughly 9 cents per gallon in profit these days. If gas is at $2.75, they’re pulling down a blistering 3.27 % profit margin. Now, ask yourself this: How secure would your job be if your employer had to operate on a 3% profit margin? Would they even stay in business? Would entrepreneurs get out of bed in the morning to make a 3% profit margin running a small business?
I don’t care how much money Big Oil is making, nobody makes 3.3% profit when price gouging.
3. Depending on the state, taxes are somewhere between 26 and 60 cents per gallon. Sure, roads need to be funded and gas taxes are a great way to do that because greater use of roads leads directly to more money for roadwork. Still, consider that a moratorium on Illinois and federal gas taxes would bring us gas somewhere in the area of $2.36 here in Freeport. A graph of Big Oil profits over the last 30 years looks like a roller coaster, while a graph of gas taxes shows a nice, steady climb that well exceeds inflation. Who’s gouging who?
4. Speaking of gouging, why hasn’t the anti-gouging chorus gone after the bottled water industry? Dasani, for example, is currently going for $1.06 per liter. That works out to $4.16 per gallon for something not much different than what comes out of your tap. What do you think the profit margin is on a gallon of Dasani? They’re not the worst, though. Check the per-gallon price on Pepto Bismol, Dom Perignon, Coca-Cola or “inexpensive” Testor model paints. Don’t get me started on the Alclad lacquer I dream of using on my model planes; at $6.96 per ounce the price works out to over $1,000 a gallon.
What could drive these businesses to offer their products at these insane prices? Could it be a little thing called “supply and demand?”
5. Despite Dick Durbin’s recent ludicrous proclamation that there’s “no end in sight” for oil prices, leading Democrats know that crude and pump prices will decline steadily for months before the election. To capitalize on high prices, they have to get the idea that the GOP is aiding and abetting Evil Oil cemented in the minds of voters while prices are still high.
Keep this in mind when the Dems demagogue this issue all summer: According to the April 28 Federalist Digest email newsletter, Senate Minority Leader Harry Reid has voted to raise fuel taxes 12 times and House Minority Leader Nancy Pelosi has voted to raise them 5 times so far.
6. While we’re addressing the Democrats, let’s remember who has opposed new refining facilities in the U.S. for 30 years or so, opposed new nuclear plants for about the same amount of time and been at the forefront of taking up refinery capacity with “boutique” gas mixes for certain major cities.
Each of these things has a consequence at the pump. America’s low refining capacity is a bottleneck that reduces supply and drives prices up, and the boutique fuels exacerbate that problem. Fewer nuclear plants mean more oil-fired plants, which means less crude going to gasoline production, and more pollution.
7. Here’s another good find from the Federalist Digest: Fuel supply coming out of the Gulf Coast is still down almost 20% because of damage from Hurricane Katrina. Gas demagogues aren’t going to tell you that, and they sure won’t be reminding us what happens to prices when demand rises and supply goes down.
8. These days, large American corporations are mainly owned by American wage earners and retirees. Sure, the fat cats in the limos are out there, but the bulk of the shares are owned by pension funds and other investment groups. In other words, Big Oil’s profits are helping Grandma stay retired now and Joe Lunchbox and Jane Teacher look forward to a properly funded retirement in 20 years.
The Beltway demagogues are counting on us to be economically ignorant and easily riled. They surely don’t deserve our help, so let’s not oblige them.
Are you serious?
1. So, what, the guys at Exxon and Aramco are just lying when they say we have several trillion barrels left?
2. Here's a para from the wikipedia article on Hubbert's peak theory:
Critics such as Leonardo Maugeri, vice president for the Italian energy company ENI, point out that Hubbert peak supporters such as Campbell previously predicted a peak in global oil production in both 1989 and 1995[40], based on oil production data available at that time. Maugeri claims that nearly all of the estimates do not take into account non-conventional oil even though the availability of these resources is (supposedly) huge and the costs of extraction and processing, while still very high, are falling due to improved technology. Furthermore, he notes that the recovery rate from existing world oil fields has increased from about 22% in 1980 to 35% today due to new technology and predicts this trend will continue. The ratio between proven oil reserves and current production has constantly improved, passing from 20 years in 1948 to 35 years in 1972 and reaching about 40 years in 2003. These improvements occurred even with low investment in new exploration and upgrading technology due to the low oil prices during the last 20 years.
What's that phrase..fool me once, shame on you...what happens when you get fooled three times?
They were touting it all over Wednesday night. "Lowest gas price in the nation for 24 hours"...starting at 12:00 A.M. on Thursday morning...so it's over now...sorry folks!
Hope we REALLY hit $1.99 soon!
If they win in November, it will be priority number 3. Priority one will be impeachment, and priority two will be getting out of Iraq with our tails on fire and blaming Bush for the ensuing genocides/failed state/terror harbor.
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