Gas Prices Way Down...Why No Word From the MSM

Me | 10/26/05 | The Louis Wu

[TomB]

Because most rational people don't consider $2.25 a gallon to be "low"?

It's always amazed me that people can complain about the price of a gallon of gas but not the price of milk. Around here the prices are similar.

When you compare the the costs of exploration, drilling, transportation, and refining of gas to milking a cow I can't believe more people don't complain about milk. Considering the situations, gas is pretty cheap.

[metmom]

Yeah, it might make Bush look good. Can't have that.

[Angry_White_Man_Syndrome]

In Oklahoma I have seen it as cheap as $1.99. Most places it is $2.05.

[metmom]

Same as here in NY. (The middle of the state, not NYC)

[metmom]

I don't drink as much milk as I use gas.

[hermgem]

Just keep in mind that polling revealed MSN causes and is a source of depression.
It's keeping distance from these scribes that allows for independence of mind and level judgments.

[TomB]

I don't drink as much milk as I use gas.

You should hang around my family! ;-)

[andy58-in-nh]

That's interesting, and somewhat counterintuitive, given what's happened in most of the country. Texas' gas tax is relatively low, at 20 cents per gallon. One explanation I can think of is that there are currently 18 different formulations of gasoline that need to be produced (as the result of Government regulations, of course). The types required in Texas represent only two of these, meaning that supply is going to be limited relative to demand from other regions of the US that are dependent on Texas for at least some of their production. Then, of course, some "gouging" does exist, although reduced demand and more price competition seems to have put a damper on that, for the most part.

[hermgem]

How's that blaming of oil companies for making obscene profits?
O'Reilly comes forward with obscene doubling of profits and will not accept a 7% profit on higher gas prices.
Just assume that oil companies instead of making 7% on higher prices and thereby doubling profits, they calculate with 3.5% to keep profits at lower dollar amounts.
If O'Reilly figures this out, based on a pump price of say $3.00, a reduction by 3.5% or half the profit would lower pump prices by...10.5 cents.
What O'Reilly did do however is move consumers away from a real cost escalator by shifting blame illogically.
Problem is drilling limits in Alaska, offshore, (which also brings forward trillions of cubic feet of natural gas)building refineries, go for atomic power generations to bridge us till new technologies support reduced oil demand, worldwide.
Think of the democrat party by garnering green votes as the ultimate cause of high natural gas and oil prices, plus a starkly negative balance of payments.
All of us consequently poorer than need to be. When pumping gas, keep your Dem Senator's face in your mind, he's the one.

[MarkL]

"First off, you can't get Bill O'Reilly to shut up about it. He's taking credit for it himself!"

From what I have seen he is giving credit to Americans.

He's taking credit as the only one to say that the oil companies are gouging the American public, and that Americans are listening, and are getting angry.

Mark

[MarkL]

I got that from O'blowhard on his program the other night. Where's he coming up with that? He insisted to his guest that the prices coming down was a result of the "price gouging by the oil companies" (he sees it as a conspiracy), didn't work because the consumers got mad and wouldn't pay their price. He actually said, supply and demand was NOT the reason.

And if you listened to what he was saying, he only spoke about "demand." He said nothing about supply. There are a number of reasons that there's a greater supply of oil since Katrina hit, not the least of which is that a number of refineries that were shut down have started up again, and the executive order that waived the different regional blends of gasoline.

Mark

[River_Wrangler]

Then, of course, some "gouging" does exist,

I agree with your post however, IMHO "Gouging" is in the eye of the beholder. The free market system is at work. Gouging to us consumers is paying more at the pump than we think we should. To the refining industry it simply means a profit that is in line with other industries. My comments are only made to exemplify that without Government influence free market pressures would work much better and we might not have the extreme peaks and valleys.

[Gaffer]

I don't have any qualms about what you said...my response was humor as to why no quibbling from the MSM on LOWER prices.....I don't know much about O'Reilly because I don't watch him....

Gas is higher because we won't(can't)drill offshore, we won't(can't)drill onshore, we won't(can't) build new refineries, we won't(can't) build new redundant pipelines, won't(can't) reduce the regulations on designer gasolines, we won't we can't we won't we can't ad nauseum...the reason is Democrats and tree-huggers for every one!

[Hatteras]

I'm getting to the point where I only by gas unless I really, really need it. It's dropping about a nickel a day and I don't want to fill it up if I can get it cheaper tomorrow... Hmmm, I guess that's a "good problem" to have, huh?.