Gas Prices

[sww-bull52]

The petroleum industry reported they had a 66% profit made last year............


SURPRISE!!!!!!!!!

[Black_Magic]

Originally posted by sww-bull52
The petroleum industry reported they had a 66% profit made last year............


SURPRISE!!!!!!!!! Heck ! what did you expect!.. Its amaizing! we controle IRAQ with one of the largest oil reserves in the world and we cant increase production to help bring down the price of Oil????? sure we could. But You know who and his buddies like the price of oil high. Thier stocks bring higer dividends that way.:doh:

[sww-bull52]

In the mean time, folks like us are thinking about going back to the horse and buggy. Maybe the Amish got it right.

[HighSchool Fan]

Originally posted by Black_Magic
Heck ! what did you expect!.. Its amaizing! we controle IRAQ with one of the largest oil reserves in the world and we cant increase production to help bring down the price of Oil????? sure we could. But You know who and his buddies like the price of oil high. Thier stocks bring higer dividends that way.:doh:

lack of refinerery's(sp) is the real problem

[sww-bull52]

Originally posted by HighSchool Fan
lack of refinerery's(sp) is the real problem

I would have to say greed is the main problem. It's all about the almighty dollar. Although I have to admit that Katrina and Rita had some effect.

[Phil C]

The Fat Cats strike again and win!

[HighSchool Fan]

Originally posted by sww-bull52
It's all about the almighty dollar.

don't leave out the extreamist who don't think we should build new refineries. if we had more refineries on both coast, then the hurricane's would of had just a small impact.

[olddawggreen]

Here is what you pay for in a gallon of regular gas;
(Based on a retail price of $2.26 per gallon)

Crude Oil
57%
Refining
8%
Distribution and Marketing
15%
Taxes
20%

World prices;
High
$6.48 Amsterdam, Netherlands
$6.27 Oslo Norway
$5.93 Copenhagen, Denmark
5.91 Brussels, Belgium
Low
$0.91 Riyadh, Saudi Arabia
$0.78 Kuwait City, Kuwait
$0.65 Cairo, Egypt
$0.38 Lagos, Nigeria
$0.12 Caracas, Venezuela

(Makes you want to move to Nigeria or Venezula does'nt it?
:D )

[shankbear]

The Carter administration began the process of making it impossible to start new refineries. Our refining capacity is a fraction of what it used to be.

[Black_Magic]

Oh yeah, Its Carters Fault?:rolleyes: 2 of the 3 plants Snyder Had closed or shut down in the 90s....I think the Record 66% profits of the oil companies say where our money goes.. doubt the oil companies will give carter any credit for the record profits. but they will blame him if they have losses.. LOL

[HighSchool Fan]

Originally posted by Black_Magic
Oh yeah, Its Carters Fault?:rolleyes: 2 of the 3 plants Snyder Had closed or shut down in the 90s....I think the Record 66% profits of the oil companies say where our money goes.. doubt the oil companies will give carter any credit for the record profits. but they will blame him if they have losses.. LOL

supply and demand. no refineries to produce more gas. there's tankers in the gulf waiting for days to get unloaded but they can't because the refineries are already full.

[Aesculus gilmus]

"We" don't really control Iraq. No one does. And a "Wild West" situation is not conducive to oil exploration and production, much less transportation along vulnerable pipeline routes.

http://www.mg.co.za/articlepage.aspx?area=/breaking_news/breaking_news__business&articleid=260957

Political instability, violence, and the sabotage of oil industry pipelines and infrastructure have been main factors. The 2003 war itself did little damage to the infrastructure, but looting and sabotage in the aftermath accounted for 80% of the destruction.

Between April 2003 and January 5, 2006 there were 290 recorded attacks on Iraq's hydrocarbon and energy infrastructure including the nation's 6 960km-long pipeline system and 17 600km11,000km-long power grid according to the US-based Institute for the Analysis of Global Security (IAGS), an independent organisation that monitors energy and security issues.

Sabotage, bombings, and looting along Iraq's biggest export line, the duel 960km Kirkuk-Ceyhan pipes which can optimally transport 1,6-million bpd of two kinds of crude, have forced it to operate only sporadically. Most Iraqi oil exports are now shipped through the southern Basra terminal.

Shutdowns and property damage resulting from the attacks have cost Iraq billions of dollars in lost oil export revenues and repair costs. Under Saddam's rule local tribesmen and two divisions of Iraqi army patrolled the pipelines and infrastructure.

The US military continues to guard the energy infrastructure, and under a $100-million joint contract with South African security firm Erinys International, about 14 000 mainly Iraqi personnel have also been trained to guard the sector, the EIA report said. In addition, Florida-based AirScan conducts air surveillance of the pipelines.

"One major challenge in maintaining, let alone increasing, oil production capacity was Iraq's battle with water cut, especially in the south," said the EIA report referring to the excess effluent water produced with each barrel of crude.

[Phantom Stang]

Originally posted by HighSchool Fan
supply and demand. no refineries to produce more gas. there's tankers in the gulf waiting for days to get unloaded but they can't because the refineries are already full.
As we all know, the gas stations aren't running out of gas. Now you inform us that there are tankers full of oil, backed up in the ports. If this is the case, the supply is greater than the demand, so why haven't the prices went down?:thinking: :thinking:

[HighSchool Fan]

Originally posted by Phantom Stang
As we all know, the gas stations aren't running out of gas. Now you inform us that there are tankers full of oil, backed up in the ports. If this is the case, the supply is greater than the demand, so why haven't the prices went down?:thinking: :thinking:

as of now the refineries are running at 100% capabilities and they can't make it fast enough. more refineries would help solve that problem. just because the fuel refineries are barely keeping up doesn't mean the supply is greater than the demand. get the oil out of the coast and into more refineries and the prices would start going down.

[SintonFan]

Originally posted by HighSchool Fan
as of now the refineries are running at 100% capabilities and they can't make it fast enough. more refineries would help solve that problem. just because the fuel refineries are barely keeping up doesn't mean the supply is greater than the demand. get the oil out of the coast and into more refineries and the prices would start going down.
.
Radical environmentalism has stopped many attempts to build new refineries. Also has prevented many new areas of exploration.

[Aesculus gilmus]

http://www.joe-duarte.com/free/market_summary_weekday.asp

Oil has been slipping over the last few days, but remains well above key support levels, as the Iran situation keeps the fear premium in place.

The short term thinking is still that the weather is too warm, and that heating fuel supplies have been building, so there is no reason to bid prices up wildly.

At the same time, certain things are important on a longer term basis.

Foremost, is the fact that roughly one-fifth of the U.S. Gulf of Mexico's oil and natural gas infrastructure is still off line, and will be off line for several months.

And just as important is the fact that just as the rigs and platforms in the Gulf hopefully become operational, hurricane season, predicted to start in June, will arrive, again raising the potential for damage, and keeping supplies tight.

[bulldogbark]

I read or heard somewhere that it would take over 5 years just to do an envirmentle (sp) impact study and another 5 years to just get to the point of breaking ground...lets all go out and hug a tree:D

[SintonFan]

Originally posted by bulldogbark
I read or heard somewhere that it would take over 5 years just to do an envirmentle (sp) impact study and another 5 years to just get to the point of breaking ground...lets all go out and hug a tree:D
.
:D
.
Don't forget the "not in my backyard" mentality we all have when the mention of the possibilty of a refinery being built is announced.
Jeez, it used to be a good thing when decent paying jobs came to your area.:rolleyes: