4 years ago or whenever it was

[Old Tiger]

when gas prices were at an all time high what was the price per barrel of crude oil?

[RMAC]

I want to say it topped off somewhere around $160-165ish/barrell.

[Old Tiger]

Originally posted by RMAC
I want to say it topped off somewhere around $160-165ish/barrell. and gas prices were what $3.97 a gallon?


Right now we are at $112 barrel and gas is on average $3.70 one would say...


I just don't see how they are that high when oil prices aren't near as high as they were then.



Maybe someone with more knowledge can explain to me why that is

[Ranger Mom]

That makes this post I made in 2005 almost laughable

89.50 (http://bbs.3adownlow.com/vb/showthread.php?threadid=28898&highlight=suburban)


I was complaining how much it cost to fill my Suburban up and at that time gas was $2.19 a gallon....and I thought that was a lot!!!

Just sad!!:(

[Old Tiger]

Originally posted by Ranger Mom
That makes this post I made in 2005 almost laughable

89.50 (http://bbs.3adownlow.com/vb/showthread.php?threadid=28898&highlight=suburban)


I was complaining how much it cost to fill my Suburban up and at that time gas was $2.19 a gallon....and I thought that was a lot!!!

Just sad!!:( Rockdale Tiger...forgot about that user name lol

[Ranger Mom]

Originally posted by Old Tiger
Rockdale Tiger...forgot about that user name lol

LOL!! So had I!!

[Blastoderm55]

Originally posted by Old Tiger
and gas prices were what $3.97 a gallon?


Right now we are at $112 barrel and gas is on average $3.70 one would say...


I just don't see how they are that high when oil prices aren't near as high as they were then.



Maybe someone with more knowledge can explain to me why that is

Probably thanks to reports such as this.

"Analysts expect Exxon Mobil Corp. to report earnings of $1.92 per share, up 44 percent from a year ago. It benefited from higher crude oil prices, which jumped above $100 per barrel during the quarter after starting the year at $91.38."

High Hopes for Q1 Earnings (http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201104101420APDIGITLFINANCE__US_Wall_Street_Week_A-1&params=timestamp%7C%7C04/10/2011%202:20%20PM%20ET%7C%7Cheadline%7C%7CHigh%20ho pes%20for%20first-quarter%20earnings%20reports%7C%7CdocSource%7C%7CA P%20Digital%7C%7Cprovider%7C%7CACQUIREMEDIA&ticker=XOM:US)

[Old Tiger]

Originally posted by Blastoderm55
Probably thanks to reports such as this.

"Analysts expect Exxon Mobil Corp. to report earnings of $1.92 per share, up 44 percent from a year ago. It benefited from higher crude oil prices, which jumped above $100 per barrel during the quarter after starting the year at $91.38."

High Hopes for Q1 Earnings (http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201104101420APDIGITLFINANCE__US_Wall_Street_Week_A-1&params=timestamp%7C%7C04/10/2011%202:20%20PM%20ET%7C%7Cheadline%7C%7CHigh%20ho pes%20for%20first-quarter%20earnings%20reports%7C%7CdocSource%7C%7CA P%20Digital%7C%7Cprovider%7C%7CACQUIREMEDIA&ticker=XOM:US) I don't see how high gas prices help the economy...I think gas prices should be regulated.

[Blastoderm55]

Originally posted by Old Tiger
I don't see how high gas prices help the economy...

They help shareholders of Exxon. :D

For the rest of us, they pretty much dictate how we'll spend the rest of our money. Plus we'll see less travel, less deviation from point A to point B, and more economical transportation. Until we as consumers stop buying, the equilibrium price will never be reached so they'll keep selling at higher and higher prices.

[Old Tiger]

Originally posted by Blastoderm55
They help shareholders of Exxon. :D

For the rest of us, they pretty much dictate how we'll spend the rest of our money. Plus we'll see less travel, less deviation from point A to point B, and more economical transportation. Until we as consumers stop buying, the equilibrium price will never be reached so they'll keep selling at higher and higher prices. Because people have to work though it won't go away. If you don't buy gas you can't go to work. Its going to get where people have to choose between gas or food IMO.

[PPHSfan]

Originally posted by Old Tiger
and gas prices were what $3.97 a gallon?


Right now we are at $112 barrel and gas is on average $3.70 one would say...


I just don't see how they are that high when oil prices aren't near as high as they were then.



Maybe someone with more knowledge can explain to me why that is

The Cost of oil has nothing to do with the Price of gasoline. If anything, the Price of gasoline influences the Cost of oil. Saying that the cost of oil influences the price of gasoline, is like saying the cost of cotton influences the price of designer denim. It just doesn't make sense.

[bobcat1]

Originally posted by PPHSfan
The Cost of oil has nothing to do with the Price of gasoline. If anything, the Price of gasoline influences the Cost of oil. Saying that the cost of oil influences the price of gasoline, is like saying the cost of cotton influences the price of designer denim. It just doesn't make sense. :rolleyes:

[Old LB]

Originally posted by Old Tiger
I don't see how high gas prices help the economy...I think gas prices should be regulated.

I am no fan of high gas prices but I do not work in the industry. I was in Midland the other day and everyone that wants a job there has one. All the oil and gas folks are still hiring. Pennsylvania is booming, Ft. Worth has lots of oil and gas related jobs.

My company has a railroad just North of Cotulla that has set idle for the better part of 20 yrs. With the recent discoveries there they are building that location as fast as they can go.

All about perspective I guess.

[Ranger Mom]

Originally posted by Old LB
I am no fan of high gas prices but I do not work in the industry. I was in Midland the other day and everyone that wants a job there has one. All the oil and gas folks are still hiring. Pennsylvania is booming, Ft. Worth has lots of oil and gas related jobs.

My company has a railroad just North of Cotulla that has set idle for the better part of 20 yrs. With the recent discoveries there they are building that location as fast as they can go.

All about perspective I guess.

It's amazing to me that people are having such hard time finding jobs all across the U.S. and in Midland, they are HURTING for people to work at Wal-Mart, restaurants, etc.

As a matter of fact, we have had to shut some of our wells in because Navajo Refining doesn't have enough drivers to haul the oil, so it's been sitting in the tanks for over 2 weeks...we are in a long line.

[LionFan72]

Originally posted by PPHSfan
The Cost of oil has nothing to do with the Price of gasoline. If anything, the Price of gasoline influences the Cost of oil. Saying that the cost of oil influences the price of gasoline, is like saying the cost of cotton influences the price of designer denim. It just doesn't make sense.

Are you blood related to Nancy Pelosi??

[zebrablue2]

Originally posted by Ranger Mom
That makes this post I made in 2005 almost laughable

89.50 (http://bbs.3adownlow.com/vb/showthread.php?threadid=28898&highlight=suburban)


I was complaining how much it cost to fill my Suburban up and at that time gas was $2.19 a gallon....and I thought that was a lot!!!

Just sad!!:(



I like that thread! Brings back some good memories:evillol:

[trojandad]

oil sold for $147.27/barrel on july 11, 2008, dropping over $20/barrel over the next two weeks.....

[PPHSfan]

Originally posted by LionFan72
Are you blood related to Nancy Pelosi??

I'm sure there is some kind of rule you broke asking that question. You need to be banned.

[LionFan72]

And you my friend need to get a grip on reality.:p Cheers!

[PPHSfan]

Originally posted by LionFan72
And you my friend need to get a grip on reality.:p Cheers!

If you believe the cost of oil controls the price of gasoline, then you are just another sheep in the herd.