Did Gas jump where you are?

Gearheadotaku wrote: is that 45 billion before or after they paid their taxes? Prices are marching up here too...

profit= whatever is left over after paying off all wages, bills, politicians, and taxes.

Good to know that QE2 has had no influence.......

madmallard wrote: In reply to Ignorant: no no no... the correct response was "All Night Long~"

Well-played. Well-played, indeed.

Just tanked up tonight out of habit (station near my skatepark has cheap gas). Seems like a done deal that we'll be at $4/gal again this summer.

Suddenly all of my lectures to my wife about how this would happen again and that buying a Fit was a wise choice (which we did) will start making sense.

BTW--Quadaffi (sp) WTF?! He looks like he's a) a burn victim or b) a poorly made wax statue. Eesh.

madmallard wrote: Funny how this chart talks about profit, but not revenue, margin, or the US taxes alone they pay. Exxon alone paid more than $30,000,000,000 (billion) in taxes in 2008 (the year on the charts). Kinda makes that $45 billion in profits take on a different perception...

yeah, did you know that they didn't pay any US taxes on the money made by companies they own in Angola? they're stealing from the US taxpayers obviously!

prices jumped 45-50cents a gallon here.....I remember back in the days of the $4+ gas, the stations claimed..."well, the stock market value went up"....after the crash, and the price of oil dropped, I walked in to one and said "why is it still up, it should be half".....I was promptly asked to leave

$3.30 here in Ohio. They will get it back up there. I can't decide whether to keep my XJ for a winter/backup car, or sell it.

$120.8 / l up here or about $4.60 per U.S. gallon.

Within about a 1-1.5mi distance here in Indy I just passed 4-stations priced $3.09, $3.15, $3.21 & $3.25.

alex wrote: The unrest in Libya seems like a very likely excuse.

Fixed that for you...

Gas prices going up a few days after tension in the middle east is just plain profiteering.

The actual trickle-down time for the prices to affect the pump is something like 6 months to a year.... depending on the product it can be as much as 6 years. From crude to pump, gasoline can move as quickly as a few weeks for domestic crude, but foreign oil takes a LONG time to make it to our pumps. Think about a stack of plastic plates. It could sit on a shelf for 10 years before its sold, but its sold at current market prices, not the price based on what it cost to make it with crude oil prices of 10 years ago.

Gas companies watch the news and say "yippee, we can raise gas prices and blame that dictator."

well production and availability of crude would stop right now, so the people that have oil in tanks waiting to go to the refineries is now worth more money, because there is less production on line at that moment. that spike in prices would hit the consumer rather quickly as expected reduced amounts of available refined oil (kerosene, gasoline, diesel fuel, fuel oil, heating oil) in the near future also drive up prices for those products. Gaddafi has reportedly ordered the sabotage of oil infrastructure within libya such as pipelines that bring oil to mediterranean ports, this doesn't make the gasoline at the pump right now cost more, but it does make it worth a bit more, as the next tankful is more likely than not going to cost more than the last.

$3.19. 80 mile/day commute. Festivas are going to start getting expensive again. Aye, mi culo.

Strizzo wrote: well production and availability of crude would stop right now, so the people that have oil in tanks waiting to go to the refineries is now worth more money, because there is less production on line at that moment. that spike in prices would hit the consumer rather quickly as expected reduced amounts of available refined oil (kerosene, gasoline, diesel fuel, fuel oil, heating oil) in the near future also drive up prices for those products. Gaddafi has reportedly ordered the sabotage of oil infrastructure within libya such as pipelines that bring oil to mediterranean ports, this doesn't make the gasoline at the pump right now cost more, but it does make it worth a bit more, as the next tankful is more likely than not going to cost more than the last.

Ok, but removing 25% of roughly 1.5% of world production (so .375% of total world production) justifies prices jumping over 10% in a matter of days?

pigeon wrote: There was a story on the local news last night about why gas prices were going to be going up. I swear, if I were the tinfoil hat type I'd say that Big Oil plants those stories to be able to crank the prices up.

Betcha a dollar that TexaMobiXxonP is giving the rocks and bottles to throw at the Man.

In reply to z31maniac:

if libya and all the other nations in that region fall into chaos, with foreign companies and governments pulling their people out, who do you think will be pumping the crude?

these uprisings have the potential to disrupt oil supply from the entire region, not just those countries where they are occurring

the crude oil price spike is likely due to speculation, but some "experts" are predicting that we could see $140/barrel prices within a few months. this would certainly mean $4+ gas

Break out your scooters ,golf carts, bikes and shoes and ride it out for awhile . Bum rides from friends . If you have to drive and pay for gas to work ask the strippers/hookers for a discount .

I noticed the other day when I left work that the gas station was PACKED and gas was $3.11. I thought it was odd that they were so busy until I drove past the next station...and gas was $3.29.

^Ok... glad someone brought that up. I don't understand that.

I'd much rather pay the extra $2 to not deal with a bunch of idiots fighting over the pumps.

stupid panicking masses. OH GOD THERES A .15 DIFFERENCE, I BETTER 'GET MINE!!!!'

Those stupid people are why Georgia -ran out- of gas a couple years ago, because every dope ran out to top off their own tank before it got 'expensive.'

Strizzo wrote: In reply to z31maniac: if libya and all the other nations in that region fall into chaos, with foreign companies and governments pulling their people out, who do you think will be pumping the crude? these uprisings have the potential to disrupt oil supply from the entire region, not just those countries where they are occurring the crude oil price spike is likely due to speculation, but some "experts" are predicting that we could see $140/barrel prices within a few months. this would certainly mean $4+ gas

It's all speculation. We will not let the Saudi fields grind to a halt, guaranteed.

With the way gas is running up already, $147 crude will likely mean $5+ gas. Gas is already higher compared to crude than it was in 2008.

Strizzo wrote: if libya and all the other nations in that region fall into chaos, with foreign companies and governments pulling their people out, who do you think will be pumping the crude?

We will And I will get rich and live comfortably for the rest of my life. Screw everyone else, everybody for themselves (everybody being Alberta, everyone else being you guys)!

z31maniac wrote:

Strizzo wrote: well production and availability of crude would stop right now, so the people that have oil in tanks waiting to go to the refineries is now worth more money, because there is less production on line at that moment. that spike in prices would hit the consumer rather quickly as expected reduced amounts of available refined oil (kerosene, gasoline, diesel fuel, fuel oil, heating oil) in the near future also drive up prices for those products. Gaddafi has reportedly ordered the sabotage of oil infrastructure within libya such as pipelines that bring oil to mediterranean ports, this doesn't make the gasoline at the pump right now cost more, but it does make it worth a bit more, as the next tankful is more likely than not going to cost more than the last.

Ok, but removing 25% of roughly 1.5% of world production (so .375% of total world production) justifies prices jumping over 10% in a matter of days?

No, it doesn't. But it won't stop them from doing it.

$3.29 to $3.45 yesterday.

Not too off subject, but I love how some gas stations give you a 2 to 5 cent discount a gallon to get a $3 car wash that's only good for washing the salt off your car.

If you you were to save 5 cents a gallon, that would add up to a $1 savings for 20 gallons of gas and you still pay $3-6 on top of that. At $3.24 a gallon, that's $65 in gas.

Yeah not worth it.

Gas is a traded commodity, so if demand doesn't drop, and production does, prices go up. There is certianly gouging going on by some groups no doubt, so I have no sympathy for those people, but the real problem is going to be the fight for the current supply. China has a lot to bring money-wise, and a huge demand...we're going to be in a battle in the future for the reserves.

I also don't think we'll lend a hand to Saudi either. i think it'll be every country for themselves at some point, unless Russia and China step in, which will also be bad.

A recent oil vistior to our company predicted that if Saudi falls, expect $10 to $20 a gallon at the pump. They refine crude but already having some difficulty in the supply chain.