Yeah the oil companies will profit more..I was hoping they would catch a break soon

♪ prices are gonna get jacked up
♫ give it a couple of days ♪

groininjury: ♪ prices are gonna get jacked up
♫ give it a couple of days ♪

FTW

Heating oil was down 4.93 cents at $2.5328 a gallon.

I've got the heat cranked up to 90 while it still makes fiscal sense!

Cheney will have to order another Canadian pipeline blown up.

No! My stock in transocean is plummeting! Noooooooooooo.

Big deal. Down $5/barrel in 24 hours translates into down $0.05/gallon in 24 DAYS.

They're at a cheap, cheap $89/barrel. They were at $30/barrel five years ago, and it was considered a little high back then. Keep that in mind.

Oh, and we have a rate cut ahead that will undoubtedly be a big help to our economy as the dollar takes all the punches from subprime instead of the banks. You can expect the price of oil to go up yet again.

Just because the oil prices go down doesn't mean the petrol prices will fall also.

I seriously need an explanation, because I'm trying to figure out why gasoline prices are... er, so cheap.

There are 31 gallons in a barrel, right? Cite:
Google Search 'Gallons in a Barrel'

If oil is, say, $90 a barrel, that's $2.90 right out of the ground. Add refining, taxes, delivery and profit, and I figure you should be at $3.75 minimum. What gives?

Pardon me while I go grab the phone - I've gotta call bullshiat.


/just paid $68 to fill up on 87
//Ford Explorer
///actually not a bad gas guzzler
////reminiscing of the days of 1998 when I had a little coupe and could fill up for $14 at 7-11 @ $0.99/gal

But, but, but, but it's a big oil conspiracy!

/whiners, please

♪Oil pipes just blew up, billfolds are gonna quake...♪

I'm sure the Canadian pipe line blowing up won't set this back... or worse, take it far in the other direction.

Mr. Xhin: Cheney will have to order another Canadian pipeline blown up.

It was in Alaska, not Canadia, but nice try. And it didn't blow up.

Glad it didn't affect the exchange rates. At least not yet. I have some of my super valuable money to blow over the border tomorrow.

I came here expecting to find the fark servers down again so I'm really getting a kick out of these replies.

trentrockport: I seriously need an explanation, because I'm trying to figure out why gasoline prices are... er, so cheap.

There are 31 gallons in a barrel, right? Cite:
Google Search 'Gallons in a Barrel'

If oil is, say, $90 a barrel, that's $2.90 right out of the ground. Add refining, taxes, delivery and profit, and I figure you should be at $3.75 minimum. What gives?

Try "barrel of oil". It's 42 US gallons. From DOE

A barrel of oil yields these refined products (percent of barrel):

47% gasoline for use in automobiles
23% heating oil and diesel fuel
18% other products, which includes petrochemical feedstock-products derived from petroleum principally for the manufacturing of chemicals, synthetic rubber and plastics
10% jet fuel
4% propane
3% asphalt
(Percentages equal more than 100 because of an approximately 5% processing gain from refining.)

Mr. Xhin: Cheney will have to order another Canadian pipeline blown up.

Yes, just like he dynamite'd levees in New Orleans during Katrina.

/Cheney!!!!

trentrockport: I seriously need an explanation, because I'm trying to figure out why gasoline prices are... er, so cheap.

There are 31 gallons in a barrel, right? Cite:
Google Search 'Gallons in a Barrel'

If oil is, say, $90 a barrel, that's $2.90 right out of the ground. Add refining, taxes, delivery and profit, and I figure you should be at $3.75 minimum. What gives?

Link (new window)

42

Not coincidentally the answer to life, the univierse, and everything.


Oil is going to crash but I think it's not going to happen for at least a year or two.

trentrockport: I seriously need an explanation, because I'm trying to figure out why gasoline prices are... er, so cheap.

There are 31 gallons in a barrel, right? Cite:
Google Search 'Gallons in a Barrel'

If oil is, say, $90 a barrel, that's $2.90 right out of the ground. Add refining, taxes, delivery and profit, and I figure you should be at $3.75 minimum. What gives?


Actually, according to Google and various other sources:
1 barrel of oil = 158.987296 liters

Which translates to 42 US gallons. Making it $2.14/gal out of the ground.
Also, see this for what is actually made from a barrel of crude:
http://www.energy.ca.gov/gasoline/whats_in_barrel_oil.html

Only 51.4 % is actually made into gasoline.

canyoneer: It's a conspiracy!


Damn, the illuminati looks like a bureaucratic nightmare. Imagine the red tape you have to go to just to manipulate a few financial markets, let alone to get a world leader to start a war.

I credit Bushs' mideast polilcy. In all fairness, we did blame it for the increase.

trentrockport: I seriously need an explanation, because I'm trying to figure out why gasoline prices are... er, so cheap.

There are 31 gallons in a barrel, right? Cite:
Google Search 'Gallons in a Barrel'

If oil is, say, $90 a barrel, that's $2.90 right out of the ground. Add refining, taxes, delivery and profit, and I figure you should be at $3.75 minimum. What gives?

The same way they put 5 ounces of milk into every 1 ounce slice of Craft American Cheese!

/I don't know? Never thought about that before.

fireclown: I credit Bush... HEAD ASPLODE

trentrockport: If oil is, say, $90 a barrel, that's $2.90 right out of the ground. Add refining, taxes, delivery and profit, and I figure you should be at $3.75 minimum. What gives?

No one buys on the spot market (the prices you see every day). Contracts are usually for a lower price.

Around here gas has been declining despite rising oil prices. Who wants to guess that someone who has been manipulating the oil prices all along to garner anti-Arab sentiment now realizes they're sinking the economy and are now going to drop it down low so the credit-based economy will go up again?

/conspiracy nut? Maybe
//but why is gas getting cheaper when oil is getting more expensive
///something is afoot

fanbladesaresharp: Mr. Xhin: Cheney will have to order another Canadian pipeline blown up.

It was in Alaska, not Canadia, but nice try. And it didn't blow up.

FAIL.
Oil rises after pipeline explosion in Canada (new window)

cubsfan07:

/just paid $68 to fill up on 87
//Ford Explorer


Thanks for the head's up. I need to fill-up, too.

/also owns an explorer

Doesn't really matter. it will still take two weeks for them to lower the price of gas, and by then there will be a reason why they need to keep it inflated like some cow farted in New Zealand, and the global warming is keeping the costs of fossil fuels high.... different week, same old shiat.

Can't wait until we have a real alternative like using H20 for fuel. Then the middle east, and the conglomerates now making triple digit profits (and their lackies in government like Monkey Boy) will have to go to the back of the bus. But until that happens, they are riding the wave, and I can only wish that karma would catch up with them.

Elminst: fanbladesaresharp: Mr. Xhin: Cheney will have to order another Canadian pipeline blown up.

It was in Alaska, not Canadia, but nice try. And it didn't blow up.

FAIL.
Oil rises after pipeline explosion in Canada (new window)

Double fail...Canadia? Wtf?

fanbladesaresharp: Mr. Xhin: Cheney will have to order another Canadian pipeline blown up.

It was in Alaska, not Canadia, but nice try. And it didn't blow up.

Now who's being naive?

Bad news for nukes fans, of course.

But seriously subby, anyone who thinks that volitility in the oil price - or any widely used commodity - is good news needs to think it through again. It's recking the economy, just as it did in 73, 79 and 91.

The US government should raise oil taxes. It's the only way to deal with the problem.

I have switched to bicycling.

ilambiquated: Bad news for nukes fans, of course.

But seriously subby, anyone who thinks that volitility in the oil price - or any widely used commodity - is good news needs to think it through again. It's recking the economy, just as it did in 73, 79 and 91.

The US government should raise oil taxes. It's the only way to deal with the problem.

90% of oil is state-owned, and those countries have a vested interest in keeping uncertainty high and thus the price volatile. This is a political problem; taxes won't fix it.

Though I do like cap and trade to fix the pollution problem. That will make oil more expensive via the emissions aspect.

Guntram Shatterhand: Who wants to guess that someonemajor commodities brokers who hashave been manipulating the oil prices all along to garner anti-Arab sentiment now realizes they're sinking the economy and are now going to drop it down low so the credit-based economy will go up againhedge their portfolios because they're holding falling dollars, and oil futures is sold using the dollar?

That was a lot of fixing, but fixed, nonetheless.

Good! Now they need to drop another $30.

picturescrazy: The same way they put 5 ounces of milk into every 1 ounce slice of Craft American Cheese!

/I don't know? Never thought about that before.

That's not exactly a lie... Milk out of the cow contains both liquids (whey) and fatty solids (curds). It's the solids that are made into cheeses. So only a fraction of the 5 oz straight out of the cow can actually be made into make.
A more accurate statement would be that "it takes 5 oz of milk to make 1 oz of cheese." But that doesn't sound as good in commercials.

In reality, the ratio is about 10/1. it takes 10 pounds of milk to make 1 pound of cheese. http://www.moomilk.com/faq.htm#How%20many

Next headline:

Oil prices go up $10 in 12 hours on news that they dropped $5 in 24 hours

Give it a few more months and I think we will begin to see dramatic price drops in oil and oil futures. Even with higher demand I still think it is way over valued.

ilambiquated: Bad news for nukes fans...



Poor Springfield!

I like the way gas prices drop when congress threatens to investigate price fixing by oil execs.

89 bucks a barrel. Wow, cheap oil again!