Crude Oil hits $99.57 on US Market!

Oil-price.net ^ | 9/14/2009 | DGHoodini

[DGHoodini]

The price of Crude Oil was $99.57 as of 11:15AM EDT today!

And on a Sunday, no less. :oD

[Coldwater Creek]

It’s because the wholesale price went up.

[reagan_fanatic]

Despite declining oil prices, gas prices have stayed nearly the same for about the last three weeks or so here in N.W. Illinois ($3.70/gal.)

Not seeing much relief at the pump:(

[Mr Ramsbotham]

It’s because the wholesale price went up.

B.S. I know how these evil corporations conspire to sock us little people in the gut.

[Coldwater Creek]

I hope you’re kidding!

[Army Air Corps]

They love it when hurricanes and storms give them an “excuse” to close down refineries....

Yep, they love having to shut down the the source of their income. They love having to spend money to repair storm damage and inspect equipment. Ever work in a refinery? It put food on the table of many a relative of mine. How would like to work around volatile chemicals in 140 mile per hour winds? No? Well, neither do the refinery workers. Little things like preventing explosions cause them to shut down. If you think gas prices are high now, then see what it is like when a refinery is blown to bits.

[DuncanWaring]

Keep in mind that one component of the price of a gallon of gasoline (probably at least 50 cents, depending on where you live) is state and federal tax, and those don’t go down with the decreasing cost of crude.

If the cost of producing and distributing gasoline went to “zero”, you’d still be paying that fifty-cents-a-gallon tax.

[Zauber]

I simply reported that prices went up drastically at my local station. I did not speculate as to cause.

Are you familiar with the phrase “arrogant jackass” ? If not, you can “look it up”.

[Army Air Corps]

Ping.

[Mr Ramsbotham]

I hope you’re kidding!

Hell no! I used to believe all that supply and demand nonsense until yesterday, when I read the huge thread on gasoline prices right here on this very message board. A hundred posters on a forum dedicated to conservative principles can't possibly be wrong, can they? Some of them actually identified themselves as economists!

[KevinDavis]

Can you imagine the deaths if people was still working at a refinery during a hurricane?? Aside from drilling we need to have more refineries built...

[MichiganConservative]

I did not speculate as to cause.

Well, if that's the case, I guess I replied to the wrong person.

[MichiganConservative]

Some of them actually identified themselves as economists!

Self-identified economists have never been wrong before.

[Army Air Corps]

Indeed. That is why they shut down for hurricanes. It is (Shock! Surprise!) for the safety of the workers and the neighbourhoods in which the refineries operate. We do need more refineries just just for this reason so that we can mitigate disruptions in the supply of petrochemical products.

[KevinDavis]

That statement of you use to believe in supply and demand until yesterday reminds me of the seminar callers who said they where life long Republicans until a certain issue. Companies exist to provide a service at a cost. If there is no supply and high demand prices go up!!! There is no constitutional right of cheap gas..

[KevinDavis]

Build some refineries in the Dakotas or in Arizona or New Mexico... Somewhere there is no Hurricanes..

[Mr Ramsbotham]

That statement of you use to believe in supply and demand until yesterday reminds me of the seminar callers who said they where life long Republicans until a certain issue. Companies exist to provide a service at a cost. If there is no supply and high demand prices go up!!! There is no constitutional right of cheap gas.

What don't you understand about the phrase "promote the general welfare?" You probably work for the oil companies and the gasoline distributors. Government exists to protect the interests of the people. Gasoline is a commodity we can't do without, and these jackals are trying to charge us more than we can afford to pay!

[Yorlik803]

Gas went up at least 20 cents in Pittsburgh in one day.

[MichiganConservative]

Government exists to protect the interests of the people.

Well, in keeping with the spirit of the communism coming out of DC these days - the Fannie and Freddie bailouts and who knows how many bank bailouts - lets nationalize the oil industry "for the people". I nominate Maxine Waters for the position of Oil Czar.

[KevinDavis]

Sorry the last we had Government controlling big oil was in the 70’s and it didn’t quite work out to well. Unless you prefer that we have big lines and gas rationing.. I suggest that you read the Constitution further.. Than the preamble.

[KevinDavis]

I second the nomination..