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Can anyone tell me why gas is so expensive?

Can anyone tell me why gas is so expensive?

Old Apr 23rd 2008, 1:12 pm
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Default Can anyone tell me why gas is so expensive?

Seriously...

No natural disasters..... No shortages.... so why is gas still going up. We are on the verge of any miner disaster pushing gas to $5 a gallon:curse:
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Old Apr 23rd 2008, 1:18 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by basementwaj View Post
Seriously...

No natural disasters..... No shortages.... so why is gas still going up. We are on the verge of any miner disaster pushing gas to $5 a gallon:curse:
The f***ing bast***s of OPEC, and that fact we're in Iraq. The Middle East has pulled down our pants and is giving us a good rogering. I think the moment they hear of any large scale plans of us finding an alternative renewable fuel source that makes us independent of the East, only will the prices drop substantially. I also think they are trying to milk us on a resource they know is going to run out. That's my 2 cents.
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Old Apr 23rd 2008, 1:19 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by basementwaj View Post
Seriously...

No natural disasters..... No shortages.... so why is gas still going up. We are on the verge of any miner disaster pushing gas to $5 a gallon:curse:
There was some disruption on the Nigerian pipeline last week. There was also a rocket attack on a tanker off of Yemen.

There is also the increased demand from Asia and India, coupled with the rather stagnant supply.
http://www.cbc.ca/canada/newfoundlan...il-prices.html
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Old Apr 23rd 2008, 1:22 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by penguinsix View Post
There was some disruption on the Nigerian pipeline last week. There was also a rocket attack on a tanker off of Yemen.

There is also the increased demand from Asia and India, coupled with the rather stagnant supply.
http://www.cbc.ca/canada/newfoundlan...il-prices.html
is that really why we are paying $3.50 at the pumps? I dont think the Nigerian / Yemen thing really is any part of the price hike.
Opec has said that production is steady and there is no increase in demand in the US...........
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Old Apr 23rd 2008, 1:26 pm
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Default Re: Can anyone tell me why gas is so expensive?

I read somewhere it's going to rise another 10-20 cents a gallon by mid-summer.
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Old Apr 23rd 2008, 1:34 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by basementwaj View Post
in demand in the US...........
Yes, but demand is increasing in other places. Chinese oil requirements were up 8% last month over a year ago.

http://ca.reuters.com/article/busine...D3274320080422

The Yemen attacks and oil pipeline sabotage saw the price for crude spike a bit this week. While crude bought on the market and gasoline bought at the store are about 3-4 weeks apart, oil companies buy much of their oil on the futures market so it is sometimes impossible to tell just exactly how much they paid for the barrel of oil that is now filling your car.

It seems when prices go up, they rush to raise the retail price, but when they fall, they let the 3-4 week gap expire before they drop their prices.

There is also the overall dollar's weakness (as oil is still traded internationally in dollars with the exception of Iran I think). If we see it switch to the Euro or some other currency, yikes.... Russia suggested this about a year ago and a top team of Treasury officials got on a plane that night and flew to Moscow to make sure that didn't happen.

I'm buying a mini if we switch to Euro-priced oil...
Another good article here
http://news.bbc.co.uk/1/hi/business/7362194.stm
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Old Apr 23rd 2008, 1:40 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by penguinsix View Post
Yes, but demand is increasing in other places. Chinese oil requirements were up 8% last month over a year ago.

http://ca.reuters.com/article/busine...D3274320080422

The Yemen attacks and oil pipeline sabotage saw the price for crude spike a bit this week. While crude bought on the market and gasoline bought at the store are about 3-4 weeks apart, oil companies buy much of their oil on the futures market so it is sometimes impossible to tell just exactly how much they paid for the barrel of oil that is now filling your car.

It seems when prices go up, they rush to raise the retail price, but when they fall, they let the 3-4 week gap expire before they drop their prices.

There is also the overall dollar's weakness (as oil is still traded internationally in dollars with the exception of Iran I think). If we see it switch to the Euro or some other currency, yikes.... Russia suggested this about a year ago and a top team of Treasury officials got on a plane that night and flew to Moscow to make sure that didn't happen.

I'm buying a mini if we switch to Euro-priced oil...
Another good article here
http://news.bbc.co.uk/1/hi/business/7362194.stm
have you seen the auto mini that shuts off the engine when you are stopped in traffic with your foot on the brake. When you lift off it starts again and off you go. I think i may be getting one of those or a nice new VW diesel when they get here
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Old Apr 23rd 2008, 1:43 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by basementwaj View Post
Seriously...

No natural disasters..... No shortages.... so why is gas still going up. We are on the verge of any miner disaster pushing gas to $5 a gallon:curse:
i read a couple of weeks ago that $6 a gallon will be the norm very soon.
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Old Apr 23rd 2008, 1:48 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by TruBrit View Post
i read a couple of weeks ago that $6 a gallon will be the norm very soon.
FRACK
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Old Apr 23rd 2008, 1:51 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by basementwaj View Post
FRACK
it's still cheap compared to what i'm used to paying in the uk...think peeps have been spoilt at the low cost over here for many years and that's why they are so shocked.
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Old Apr 23rd 2008, 1:51 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by basementwaj View Post
have you seen the auto mini that shuts off the engine when you are stopped in traffic with your foot on the brake. When you lift off it starts again and off you go. I think i may be getting one of those or a nice new VW diesel when they get here
I heard about a new diesel BMW that gets better mileage than a Prius. It does so by having some of those automatic off features when stopped at a light (such as not recharging the battery when the car is idling) and such.

http://driving.timesonline.co.uk/tol...cle3552994.ece
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Old Apr 23rd 2008, 1:51 pm
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Angry Re: Can anyone tell me why gas is so expensive?

Let's not forget the Corrupt Tw*ts who also run this country whilst having stock in Oil Companies.:curse:

The Bush family's connection to the Oil Industry is well documented, whilst Dick Cheney was the Head of Halliburton, prior to taking the VP's office. They are responsible for supplying almost everything to the US Military in Iraq & Afghanistan. He will probably go back into that role once he leaves office.:curse:

The more oil prices go up, the more $$$$ they get in their pockets.:curse:

Jim.
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Old Apr 23rd 2008, 1:54 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by TruBrit View Post
it's still cheap compared to what i'm used to paying in the uk...think peeps have been spoilt at the low cost over here for many years and that's why they are so shocked.
I think it's shocking for everyone. If we were earning £££'s and not $$$'s it would be OK!
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Old Apr 23rd 2008, 1:57 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by TruBrit View Post
it's still cheap compared to what i'm used to paying in the uk...think peeps have been spoilt at the low cost over here for many years and that's why they are so shocked.
well i have been here a year now and dont think i am being spoiled paying $3.50 a gallon and paid $1 less when i got here. I think the European gas prices are just insane and played a part in my decision to move here
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Old Apr 23rd 2008, 2:02 pm
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Default Re: Can anyone tell me why gas is so expensive?

Originally Posted by basementwaj View Post
well i have been here a year now and dont think i am being spoiled paying $3.50 a gallon and paid $1 less when i got here. I think the European gas prices are just insane and played a part in my decision to move here
i'm going back much more than 1 year...the americans have enjoyed low gas prices for a long time and good for them. i remember my evian water bottle costing me more when i moved here than a gallon of gas
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