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(International Business Times)   Think all that new oil the U.S. is producing will bring down gasoline prices at the pump? Don't worry, the refiners have a plan to prevent that   (ibtimes.com) divider line 11
    More: Sad, U.S., gas prices, U.S. Energy Information Administration, American Automobile Association  
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2621 clicks; posted to Business » on 22 Apr 2014 at 12:23 PM (45 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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

2014-04-22 11:21:48 AM  
3 votes:
I blow a gasket every time I hear big oil pundits use possessive pronouns like "our oil" and "we need to drill more". Since when did we nationalize domestic oil production? These companies are going to sell to the highest bidder, not sell cheap to US citizens out of a sense of patriotism.
2014-04-22 01:39:48 PM  
2 votes:

Hyjamon: pat34us: elvisaintdead:

but yeah, mine's up .50/gal in the past 6 weeks

That is the typical "summers coming" price gouge we get every year.

"we are switching to the summer blend"  should be coming in the next week


Good point, and don't forget the "$5 gas is on the way" that every "news" station will be reporting so we will not complain to much about paying $4.30+/gal

It's become an annual ritual at this point.
2014-04-22 01:19:45 PM  
2 votes:

pat34us: elvisaintdead:

but yeah, mine's up .50/gal in the past 6 weeks

That is the typical "summers coming" price gouge we get every year.


"we are switching to the summer blend"  should be coming in the next week
2014-04-22 02:27:21 PM  
1 votes:

kab: How's that 'drill baby drill' thing working out for you?


Pretty good.

2.bp.blogspot.com
2014-04-22 01:43:21 PM  
1 votes:

GoldDude: Gasoline price is rising again?  Hmmm, I hadn't really noticed...
[media.caranddriver.com image 850x519]


You will once your state or Congress passes a "Use Tax" for electric vehicles.

/the revenue from that tax will be used to fund oil company subsidies
2014-04-22 01:24:55 PM  
1 votes:

Dr Dreidel: StrikitRich: PapaChester: So, did I miss something or did nothing in the "article" (I prefer 'crappy blurb') talk about what refiners are are doing to keep prices up?

They are exporting more and more refined gasoline creating an artificial shortage domestically.

Isn't that what started the gas shortages in the 70s? Only instead of calling them "Big Oil" back then, we called them OPEC?


And by "that", obviously, I mean "artificially manipulating supply".
2014-04-22 01:18:59 PM  
1 votes:
Gasoline price is rising again?  Hmmm, I hadn't really noticed...
media.caranddriver.com
kab
2014-04-22 12:54:33 PM  
1 votes:
How's that 'drill baby drill' thing working out for you?
2014-04-22 12:43:35 PM  
1 votes:
Marathon oil (the refining monopoly of the Midwest) always finds a way to pound us in the backside with 30 cent price spikes

Marathon = Muguthon
2014-04-22 12:20:01 PM  
1 votes:

IgG4: I know oil is a commodity. And the price is set by global demand. But can someone explain to me how the price of shipping the oil figures into its cost? It seems logical that you would want to refine and consume the oil and its products as close to the source as possible to keep your costs down and that imported oil should always cost more than domestic oil because it costs money to move that oil around.


The problem is the taxes.  The poor poor oil companies have to pay federal taxes on the oil consumed in the US.  As long as transport costs are lower than the taxes paid, the oil companies will want to export "their" oil out of "our" country.
2014-04-22 12:01:33 PM  
1 votes:
I know oil is a commodity. And the price is set by global demand. But can someone explain to me how the price of shipping the oil figures into its cost? It seems logical that you would want to refine and consume the oil and its products as close to the source as possible to keep your costs down and that imported oil should always cost more than domestic oil because it costs money to move that oil around.
 
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