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(CNBC)   Gas prices to increase 10 to 20 cents per gallon. Why? Because fark you, that's why   (cnbc.com ) divider line
    More: Scary, sticker shock, distillates, vacation time, gas prices  
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11122 clicks; posted to Main » on 11 Jul 2013 at 5:31 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2013-07-10 09:16:08 PM  
9 votes:
Nothing's gonna stop us from buying gas, so they'd be stupid not to raise their prices.
2013-07-10 09:10:44 PM  
6 votes:
Yep. That's pretty much why.
2013-07-11 08:26:49 AM  
4 votes:
i.imgur.com
2013-07-11 05:35:59 AM  
4 votes:
Because it just went down 40 cents?  at least here it did.

but the real reason is that the people who are fixing the prices already have set the new prices into motion.  The kicker is that they have not enough shame in their price fixing that they actually ALERT THE MEDIA that it is going to happen.

If your industry is fixing prices to the point that they issue press releases, PERHAPS an investigation is in order.
2013-07-10 11:47:21 PM  
4 votes:
It's already happened here.  Twice now, the moment gas drops below the $3.20 mark, there's a sudden jump back up.  Because something something refineries.
2013-07-11 06:09:06 AM  
3 votes:

Raw_fishFood: So, let's say somebody manages to arrange the impossible and gets everybody to not buy gas personal use for three days or so.

How would that affect things?


It would ruin gas station owners who rely on the sale of snacks and soda, but do almost nothing to the oil industry itself.
2013-07-11 09:39:22 AM  
2 votes:

WippitGuud: And yet... the US is going to approve Keystone XL, which is going to ship in bitumen oil from Alberta. It's like oil mixed with mud. Even though I live in Canada, you;d be a lot better off not bringing it down, and just use more of your own oil.



You know this because you're in Canada. Here in America, a big enough portion of our citizenry lives in a propaganda-induced coma.

The Keystone XL was sold through the media and its public relations masters as a point of good old fashion American pride. It will create a bunch of jobs, like hundreds of thousands, or maybe even millions, but lots of jobs from job-creators definitely. And get this, even though the pipeline is really just a backdoor for Canada to ship its sludge out of a warm-water port, the pipeline is actually like the Hoover Dam. That's right, 'Merica.

But the best part of all, this really pissed off them liberals!
2013-07-11 07:38:37 AM  
2 votes:

The Beatings Will Continue Until Morale Improves: MaudlinMutantMollusk: If only we produced enough oil domestically to not need imports, then prices would drop back to $.50 a gallon!

The great part about that argument is that the US is one of the largest exporters of gasoline.



Much of that gasoline is simply being exported back to Venezuela where the crude originated.  It's shipped to the US for refining then shipped back home as gasoline.
2013-07-11 06:29:50 AM  
2 votes:

phrawgh: MechaPyx: Abacus9: BunkoSquad: Nothing's gonna stop us from buying gas, so they'd be stupid not to raise their prices.

Electric vehicles.

The switch all electric vehicles can't happen soon enough.


The  Hammerhead Eagle i-Thrust

"This car was really shaping up to be something wonderful but then ... (with the sound of a dying motor in the background and music slowing down to a stop) ... although Tesla say it will do 200 miles we have worked out that on our track it will run out after just 55 miles and if it does run out it is not a quick job to charge it up again."

not the future


Oh, you mean that debunked NYT review? I'll be waiting for your reluctant admission of derpitude.


/plans on buying electric MC next year
2013-07-11 06:06:05 AM  
2 votes:

Abacus9: BunkoSquad: Nothing's gonna stop us from buying gas, so they'd be stupid not to raise their prices.

Electric vehicles.


The switch all electric vehicles can't happen soon enough.
2013-07-11 12:05:35 AM  
2 votes:
I'd absolutely love it if someone just went on TV and used that as the reason. In fact, I'd only purchase fuel at that company's stations from that point forward.At least that company would be honest.
2013-07-10 11:22:32 PM  
2 votes:

MaudlinMutantMollusk: If only we produced enough oil domestically to not need imports, then prices would drop back to $.50 a gallon!


The great part about that argument is that the US is one of the largest exporters of gasoline.
2013-07-11 02:52:57 PM  
1 vote:

skozlaw: MythDragon: Summer: More people are driving, so we need to increase prices because of demand

Winter: Less people are driving, so we need to increase prices to make up for loss.


Except that's not what happens since, you know, gas prices actually fall back off after summer 'driving season'... but whatever.

If you want something that really DOES remain constant, American consumer stupidity should satisfy you though. We're back to Americans biatching about gas prices while simultaneously fueling demand for SUVs and pickups.

I'm sure all those sales are to builders and contractors though and I totally won't be seeing more idiots on their way to their office jobs barreling down the highway in immaculate F-150s with nobody in any seat but the driver's....


Some people live in cities where there is heavy snowfall in the winter and without a 4WD vehicle it makes it damn near impossible to go anywhere, like say your job until the city clears the snow which can take awhile.
2013-07-11 11:59:22 AM  
1 vote:
Value of dollar declines
Price of gasoline goes up

Why, it's like magic or something ...
2013-07-11 11:53:03 AM  
1 vote:
I didn't realize gas sales are so low

growlersoftware.com

growlersoftware.com
2013-07-11 11:45:03 AM  
1 vote:

Stoker: NewportBarGuy: [Gas Price Chart]
-=-
The problem with that chart is it is assuming that the price of crude is directly connected/related to the price of gasoline.
The reality is the gas price can be anything they want it to be despite the cost of the crude.
Seriously, the price of gas shoots up very fast when the crude goes up, but drops very slowly when the crude goes down.
Big profits.


growlersoftware.com
2013-07-11 11:02:42 AM  
1 vote:

JackieRabbit: Oil Companies (last month): "Gas consumption is up, so prices must go up. It's that whole supply vs demand thing."

Oil Companies (this month): "Gas consumption is falling, we're no longer making as much money, so prices must go up. It's that whole supply vs dem.... No, wait... Can someone get Public Relations on the phone!"


If it works I'd say it's a picture-perfect definition of supply and demand. Supply and demand doesn't mean you get to pay the price you want, it means they get to charge the price that you'll pay.

And apparently you'll pay 10 to 20 cents more per gallon because behaviors don't really start to change until prices breach about $4.

There is some inflexibility here, but even most of that is still the consumer's own fault. A lot of people biatch that they have "no choice" but to pay whatever the price is because it's not feasible to ditch a $40,000 SUV and move to the city, but somebody sure made the choice over the last twenty years to popularize McMansion development 30 miles from the nearest job center. Somebody sure made the choice to popularize the seven-passenger SUV and 4x4 pickup as a status symbol and fashion statement.

Americans biatching about these relatively minor gas prices is stupid. It's like whining about a swirly you gave yourself. If people don't want to keep getting screwed by gas prices they might want to quit actively trying to shove the damn pump nozzle even farther up their own asses.

/ my commute is 26 miles one-way, but at least I wasn't stupid enough to buy a truck to cover it
2013-07-11 10:37:24 AM  
1 vote:
Oil Companies (last month): "Gas consumption is up, so prices must go up. It's that whole supply vs demand thing."

Oil Companies (this month): "Gas consumption is falling, we're no longer making as much money, so prices must go up. It's that whole supply vs dem.... No, wait... Can someone get Public Relations on the phone!"
2013-07-11 09:56:41 AM  
1 vote:

UNC_Samurai


Would there be anything wrong with having a regulation that, if you want to speculate in a given commodity, you must have the infrastructure in place to take delivery of said commodity?


That has been mentioned, but for some reason it never goes anywhere. Probably because it would be bad for the speculators and would depress not hike prices and would in turn be bad for the oil companies.

The other issue might be regulation. If I have the facilities to hold N million barrels, can I still speculate on an N million barrel lot? Is anyone going to check that my facility is completely empty at the time? Can I speculate on and (N+1) million barrel lot? What about 2N?

I still think it's a good idea: requiring SOME minimal infrastructure would probably knock the majority of the speculators out of commission (heh) and maybe that's good enough.
2013-07-11 09:51:41 AM  
1 vote:

MaudlinMutantMollusk: If only we produced enough oil domestically to not need imports, then prices would drop back to $.50 a gallon!

Then we can sell it to China and make a killing!

/FTFY
2013-07-11 09:06:57 AM  
1 vote:

fireclown: The GAS is the same price. The difference between the US and the UK is taxes. exchange rate because oil is traded on the dollar and taxes


There...fixed that

Let no one forget why we get cheap energy, but then again without our military protecting trade routes and ensuring the stability of global trade we'd all be farked.
2013-07-11 08:58:16 AM  
1 vote:

MythDragon: Summer: More people are driving, so we need to increase prices because of demand

Winter: Less people are driving, so we need to increase prices to make up for loss.


Except that's not what happens since, you know, gas prices actually fall back off after summer 'driving season'... but whatever.

If you want something that really DOES remain constant, American consumer stupidity should satisfy you though. We're back to Americans biatching about gas prices while simultaneously fueling demand for SUVs and pickups.

I'm sure all those sales are to builders and contractors though and I totally won't be seeing more idiots on their way to their office jobs barreling down the highway in immaculate F-150s with nobody in any seat but the driver's....
2013-07-11 08:57:44 AM  
1 vote:
Gas is so cheap in the USA you don't even have a damn clue how good you guys have it.

Enjoy it while it lasts cause it won't be much longer and you'll be paying over 5$ a US gallon like the rest of us.
2013-07-11 08:41:16 AM  
1 vote:

Raw_fishFood: So, let's say somebody manages to arrange the impossible and gets everybody to not buy gas personal use for three days or so.

How would that affect things?


It wouldn't. You just push the purchase back. you don't get rid of it entirely.
2013-07-11 08:39:24 AM  
1 vote:

knowless: Deep Contact: The dollar dropped to the lowest in almost three weeks against the euro after Federal Reserve Chairman Ben S. Bernanke said inflation and unemployment rates show the economy still requires monetary stimulus.
 Hmmmmm.

You mean the euro and other currencies like oil?


The dollar has dropped 0.7 percent in the past week, the worst performer of 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes.
2013-07-11 08:39:12 AM  
1 vote:
My wife and I don't use gasoline, we drive all electric cars, because, frankly, we're better than you people.

I also don't own a TeeVee and I use a non-ironic rotary phone.

Pretty much King Sh*T of F*ck Island over here.

/good morning.
2013-07-11 08:33:03 AM  
1 vote:

Tat'dGreaser


LordJiro: Not saying Obama doesn't have ties, but the ties were much deeper and stronger with Bush.

Obama seems to more or less let the oil corps do as they please. Bush actively helped them fark consumers over.

Yet here we are still getting actively f*cked over, so what does that say?


It says that Bush got the active-f*ck-over ball rolling and that Obama has not done anything to curb their active-f*cking-over.

Bush's was an error of commission. Obama's is an error of omission. Neither is cause for happyjoyjoy but I tend to think that commission is worse.
2013-07-11 08:31:26 AM  
1 vote:

Richard Saunders: Because electricity is free.


Of course it isn't free.  But it can be created by a wide range of methods ranging from coal (dirtiest) to hydro (cleanest).  There ain't no free ride, but you have a little choice in who you pay.  And I'd much rather my money go to Des Moines than to Riyadh, all other things being equal.
2013-07-11 08:20:35 AM  
1 vote:

IdBeCrazyIf: So let's get that pipeline installed so we can transport Canadian crude to Texas to be refined into lighter product and then exported outside the US

.....ohhh wait


Global Markets, how do they work?
2013-07-11 08:09:06 AM  
1 vote:

MaudlinMutantMollusk: If only we produced enough oil domestically to not need imports, then prices would drop back to $.50 a gallon!




No.

A large part of the price of oil is the cost to get it out of the ground. For for Venezuela to make any money off their hard to extract and refine crude oil needs to be in the $70-$80 per barrel range. Russian because of geography, infrastructure and climate costs needs it closer to the $90 dollar range to be profitable.

Fracking (A large part of US production now is also expensive and depending on location/geology you need it be anywhere from $40 to $80 plus range.

$10 a barrel oil like in the 80s-90s (essentially cheap Saudi crude) will kill US domestic and increase our dependence on imports. You cannot make any money if the cost to bring the oil to market is higher that for what it sells for.

Saudi Texas

www.aei-ideas.org
2013-07-11 07:50:51 AM  
1 vote:
1.bp.blogspot.com
2013-07-11 07:47:17 AM  
1 vote:

WippitGuud: And yet... the US is going to approve Keystone XL, which is going to ship in bitumen oil from Alberta. It's like oil mixed with mud.

Even though I live in Canada, you;d be a lot better off not bringing it down, and just use more of your own oil.


We're not bringing it down here for us. We're bringing it down here so you guys can sell it to the Chinese and move it through our warm-water ports.

Because that's the best deal for us, apparently.
2013-07-11 07:43:20 AM  
1 vote:

Tat'dGreaser: LordJiro: Onkel Buck: Damn if this was 6 years ago we could just blame Bush. I remember he got blamed a lot for high gas prices, Barry not so much.

It's almost like Bush and his administration (and the right wing in general, for that matter) had rather extensive ties to oil corporations and the royal family of the largest oil exporter on the planet, while Obama doesn't.

Oh good lord dude


Not saying Obama doesn't have ties, but the ties were much deeper and stronger with Bush.

Obama seems to more or less let the oil corps do as they please. Bush actively helped them fark consumers over.
ows
2013-07-11 07:40:41 AM  
1 vote:
hello oil refinery, this is goldman sachs, go ahead and shut down, ok

but theres nothing wrong here, everythings fine

I know, just make something up, say your doing maintenance.

sound familiar??????????????
2013-07-11 07:36:33 AM  
1 vote:

Onkel Buck: Damn if this was 6 years ago we could just blame Bush. I remember he got blamed a lot for high gas prices, Barry not so much.


It's almost like Bush and his administration (and the right wing in general, for that matter) had rather extensive ties to oil corporations and the royal family of the largest oil exporter on the planet, while Obama doesn't.
2013-07-11 07:35:57 AM  
1 vote:

Onkel Buck: Damn if this was 6 years ago we could just blame Bush. I remember he got blamed a lot for high gas prices, Barry not so much.


Tune into Fox News this morning, I'm sure President Obama will get plenty of the blame.  Of course, President Bush got blame because he started a war that destabilized the area where we get most of our oil.

Who is this "Barry" you speak of?  I hear derpy morons on Free Republic talking about this "Barry" all the time but I don't see it here often.
2013-07-11 07:34:26 AM  
1 vote:

vernonFL: In my state (Maryland) they are raising the gasoline taxes 4 cents per year for the next 3 years.

Meh. Drive less and buy more fuel efficient cars. Ride a bike or walk, fatty.


Good luck with that, in my experience, once a tax is levied, even for a set duration, good luck in getting it repealed. PA has a great one on the books from 1936. Designed as an emergency tax to help the victims of the Johnstown flood, the Johnstown Flood Tax was a "temporary" 10% tax on alcohol. Not only was it never repealed, it was actually raised to 18% in 1968.
2013-07-11 06:55:01 AM  
1 vote:

PreMortem: phrawgh: MechaPyx: Abacus9: BunkoSquad: Nothing's gonna stop us from buying gas, so they'd be stupid not to raise their prices.

Electric vehicles.

The switch all electric vehicles can't happen soon enough.


The  Hammerhead Eagle i-Thrust

"This car was really shaping up to be something wonderful but then ... (with the sound of a dying motor in the background and music slowing down to a stop) ... although Tesla say it will do 200 miles we have worked out that on our track it will run out after just 55 miles and if it does run out it is not a quick job to charge it up again."

not the future

Oh, you mean that debunked NYT review? I'll be waiting for your reluctant admission of derpitude.


/plans on buying electric MC next year


No, Top Gear drove the thing hard around their track.  Not indicative of normal use, however, I think they were pointing out perhaps that Tesla should put more emphasis on what conditions one would see a 200 mile range from a single charge.

/watch Top Gear, it's entertaining and you'll thank me, just be sure to leave your delicate sensibilities at the remote
2013-07-11 06:46:24 AM  
1 vote:
Why?  Because SHAREHOLDERS, that's why.

The most important people on the planet.
2013-07-11 06:40:11 AM  
1 vote:

LeoffDaGrate: Speaker2Animals: It's down about 75 cents a gallon from earlier this year. Who gives a flying f*ck if it goes up 10 or 20 cents?

YOU are the type of consumer oil companies love.  Prices skyrocket to a $1.00 above norm, it's an outrage.  But if it's only 10 or 20 cents?  Meh, who gives a flying f*uck, it's still lower than it was, right?


Boil that frog!

/$3.79 at the local Mega-Oil/ConvenienceStop place
2013-07-11 06:13:34 AM  
1 vote:

Abacus9: phrawgh: The Lord is punishing this country, and we deserve it for how we live and who we elect.

It is going to get a lot worse before it gets better.

I know people that actually believe this.


I know people who agree with that one congresscritter from MN who said we won't run out of anything because God won't allow it. They scare me more than the "we deserve it" crowd.
2013-07-11 06:12:13 AM  
1 vote:

Raw_fishFood: So, let's say somebody manages to arrange the impossible and gets everybody to not buy gas personal use for three days or so.

How would that affect things?


You might put some local gas stations out of business, but it would mean fark all to the big oil companies.
2013-07-11 06:05:21 AM  
1 vote:

Speaker2Animals: It's down about 75 cents a gallon from earlier this year. Who gives a flying f*ck if it goes up 10 or 20 cents?


YOU are the type of consumer oil companies love.  Prices skyrocket to a $1.00 above norm, it's an outrage.  But if it's only 10 or 20 cents?  Meh, who gives a flying f*uck, it's still lower than it was, right?
2013-07-11 05:34:32 AM  
1 vote:
It's dangerous to be short on oil right now, so all the long players are driving prices up for the little guys at the pump.
2013-07-11 12:21:07 AM  
1 vote:

ArkAngel: Shostie: EGYPT!

LIBYA!

OMG!

More along the lines of CHINA! INDONESIA! and BRAZIL!


More like some double chinned executive needs another golden toilet since his last one cracked
2013-07-11 12:13:31 AM  
1 vote:

Lsherm: MaudlinMutantMollusk: The Beatings Will Continue Until Morale Improves: MaudlinMutantMollusk: If only we produced enough oil domestically to not need imports, then prices would drop back to $.50 a gallon!

The great part about that argument is that the US is one of the largest exporters of gasoline.

Thank you

Crude oil, or gasoline?  I thought what we exported wasn't fit for US consumption either way.


So we've gone from "Drill, baby, drill" to "Our oil isn't good enough for us"?

/America, f*ck yeah
2013-07-11 12:06:31 AM  
1 vote:
It's down about 75 cents a gallon from earlier this year. Who gives a flying f*ck if it goes up 10 or 20 cents?
2013-07-10 10:56:16 PM  
1 vote:
If only we produced enough oil domestically to not need imports, then prices would drop back to $.50 a gallon!
2013-07-10 09:53:07 PM  
1 vote:
i42.tinypic.com
2013-07-10 09:16:27 PM  
1 vote:
*supplyanddemand*squawk*supplyanddemand*squawk*
 
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