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(CBS Los Angeles 2)   If Baghdad falls, today's gas prices will "look like a bargain in a couple weeks". Happy vacation season, everyone   (losangeles.cbslocal.com) divider line 261
    More: Scary, Baghdad, head of government, KNX  
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8657 clicks; posted to Main » on 14 Jun 2014 at 5:01 PM (18 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-06-14 10:22:08 PM  

Nemosomen: You're just making up numbers. And if that's a horrible way to do business, why isn't everyone losing money?


people aren't losing money.  they're making too much by overcharging on something that may or may not happen.

i don't need to cite actual numbers, because we're speaking in generalities. it doesn't matter if the increase is 1, 3, or 5%.  they aren't huge swings at all.  crude doesn't go up $40 in a day.  on the other side, $4/gal gas goes up $0.30 that percentage increase is double what the cost of the crude went up.

in 2008 i did an analysis of the average price of a gallon of gas against the price of crude since the late 70's.  that data spells out some interesting figures and shows when the speculation and futures market went into full swing.  the data doesn't lie, and it's simple math.
 
2014-06-14 10:30:10 PM  

moeburn: I know what happens to l-ion batteries when you puncture them.


img2.wikia.nocookie.net
 
2014-06-14 10:36:00 PM  
At least those characters from the Ayn Rand movies will still be able to afford $80/gal gas. I've got Rand Paul's Uber ride on speed dial.
 
2014-06-14 10:39:15 PM  
ecx.images-amazon.com
//still relevant
 
2014-06-14 10:42:10 PM  

leevis: I don't think gas prices really skyrocketed until Katrina.


average price per year  crude then per gallon

2013  89.84  3.49
2012  84.46  3.60
2011  87.04  3.53
2010  71.21  2.78
2009  53.56  2.35
2008  91.48  3.86
2007  64.20  2.81
2006  58.30  2.58
2005  50.04  2.27
2004  37.41  1.85
2003  27.69  1.56
2002  22.81  1.34
2001  23.00  1.43
2000  27.40  1.49
1999  16.55  1.14
1998  11.91  1.03
 
2014-06-14 10:53:20 PM  

Deep Contact: AeAe: Prophet of Loss: The US is a net exporter of oil.

Why the fark is gas so expensive?

The dollar isn't worth much when your printing money like drunk sailors.


Derp.
 
2014-06-14 10:54:29 PM  
Doesn't matter what happened, people will find the way to raise prices. In Ohio there was an article where they talked to an "expert" when our gas prices were $3.99 a gallon yet the average in the US was around $3.60 or less......the guy said "people in the Midwest are driving less so there is less demand".....so...so much for supply and demand driving their prices.

Isn't like over 80% of our oil domestic at this point? I know oil is a world commodity but honestly how much of it really comes from Iraq? It couldn't even pay for a war.
 
2014-06-14 10:56:52 PM  
But...but....but.....shale oil makes us a net oil exporter!!!!  We're the new Saudi Arabia!!!!
 
2014-06-14 10:58:20 PM  

Matthew Keene: moeburn: I know what happens to l-ion batteries when you puncture them.


CSB: Last week I was building a battery pack and my co-worker accidentally shorted a lithium 18650 battery. This caused so much current to flow that it shorted internally and discharged itself in about one minute. It got hot as fark, but didn't burn. Those things are a LOT safer than they were a couple of years ago.

/CSB
 
2014-06-14 10:59:03 PM  
The oil cartels are rubbing their hands together in anticipation of another bullshiat excuse to fleece us. Then they'll leverage that to convince a few morons that Keystone XL would fix everything.

Watch.

Just. Farking. Watch.
 
2014-06-14 11:01:27 PM  

BolshyGreatYarblocks: But...but....but.....shale oil makes us a net oil exporter!!!!  We're the new Saudi Arabia!!!!


Nationalization of oil would end this. But socialism or something.
 
2014-06-14 11:03:30 PM  

Phil Moskowitz: You shiatheads know that when they name something in public it's to get you scared of it, right? ISIS is a name, you should be afraid, you should pay attention to the viet cong, I mean ISIS.


I don't get why they gave a Muslim group the Greek name for an Egyptian goddess who was worshiped more than 2,500 years prior to the foundation of Islam.
 
2014-06-14 11:10:52 PM  

PunGent: svanmeter: And now Obama is moving aircraft carriers into the region. Is he acting because of oil? If he doesn't act, the Iranians will... Is he being played for a fool by the Iranians to do their dirty work or does he just want to protect oil interests...? Either way he doesn't look very good.

Gotta love wingnuts.  They ignore our advice, call us traitors for saying invading was a bad idea, spend billions of dollars and thousands of lives propping up a corpse, and now they blame Obama when the corpse, predictably, falls over.

Party of personal responsibility indeed.


I agree Pungent. Obama is a wingnut for getting involved in a lost cause. He's being played for a fool by the Iranians to go after their Sunni enemies. Either that or he wants to protect oil interests.

President of hope and change? He's worse than Bush at this point.
 
2014-06-14 11:11:36 PM  
Well, now the rest of the country gets to feel what it's like to live in California when it comes to gas prices.

Your wages will stay the same and you'll be paying about 4.50/gal.

Except that those of us stuck behind enemy lines will be paying over 5/gal..

/sigh
 
2014-06-14 11:13:33 PM  
Why should oil and gas prices go up higher then it was back during the Iraq War part Duex when there wasn't any oil coming out of Iraq? Of yeah, because big oil can do what ever the fark they want to.
 
2014-06-14 11:16:48 PM  

oh_please: I really, really wish Obama would step up to the podium and say:

"Know what? We tried. We farking tried. It's come to the point that the United States has two options now...one, we turn Iraq into a glass parking lot, but we're not doing that. Our only other option is to bring everyone home. That's what we're doing. I'm sorry for the people that sided with us, but we honestly can't afford to police your country anymore, especially when a lot of the population sides with power-hungry assholes who are smart enough to make race and religion their bread and butter. If that's what you want, that's what you get.

"I get it, WE get it. You don't want us here. We're leaving. Good luck, you'll need it."


...he basically did say that, and the Republican talking point response has been "Obama Lost Iraq!"  Do you really think actually saying that would be any better?
 
2014-06-14 11:17:17 PM  

Laobaojun: Laobaojun: Which is absolute profiteering bull crap, as only 3% of US oil is imported from Iraq.
Farking treasonous, self-serving actions by the US oil industry.

And before the "citation needed", the citation.


On the linked page, Iran got lumped in with all the other Persian Gulf countries.  How'd you tease out Iran's contributions?
 
2014-06-14 11:26:21 PM  

oh_please: Our only other option is to bring everyone home.


And leave our native contract interpreters and their families to be massacred by their neighbors.
 
2014-06-14 11:29:30 PM  

phillydrifter: Contracts were signed by Big Oil in 2k8


i58.tinypic.com
 
2014-06-14 11:58:45 PM  
Why do people keep saying that the USA is a net exporter of oil?  Did I miss a memo? We aren't even close.  We PRODUCE more than we import, but last I checked we still have a net import of about 6 million barrels per day.
 
2014-06-15 12:20:46 AM  

birdreynolds.com

 
2014-06-15 01:07:31 AM  

danno_to_infinity: Laobaojun: Which is absolute profiteering bull crap, as only 3% of US oil is imported from Iraq.
Farking treasonous, self-serving actions by the US oil industry.

are we co-authoring a newsletter?

/great mind yadda yadda or it is fools seldom differ?

some well owner was trying to tell me today that the days of cheap gas are over forever.  Hell, I'm not looking for 29 cents a gallon, if they can't make a profit at 2 dollars a gallon, then fark them.  pump price is triple what it was in '92 (1.25), even with inflation, it shouldn't be more than 2.11 today.


So when gas really went up when Bush was in office it was all his fault but now that Obama has been there for 6 years and gas prices have gone up it's totally just the oil industry fat cats gouging everyone.

Got it.
 
2014-06-15 01:23:20 AM  

zepher: danno_to_infinity: Laobaojun: Which is absolute profiteering bull crap, as only 3% of US oil is imported from Iraq.
Farking treasonous, self-serving actions by the US oil industry.

are we co-authoring a newsletter?

/great mind yadda yadda or it is fools seldom differ?

some well owner was trying to tell me today that the days of cheap gas are over forever.  Hell, I'm not looking for 29 cents a gallon, if they can't make a profit at 2 dollars a gallon, then fark them.  pump price is triple what it was in '92 (1.25), even with inflation, it shouldn't be more than 2.11 today.

So when gas really went up when Bush was in office it was all his fault but now that Obama has been there for 6 years and gas prices have gone up it's totally just the oil industry fat cats gouging everyone.

Got it.


The US President has essentially no effect on gas prices.

Bush severely damaged the country, but not with gas prices.
 
2014-06-15 01:27:44 AM  

SurelyShirley: phillydrifter: Contracts were signed by Big Oil in 2k8

[i58.tinypic.com image 620x882]


Did you put her picture there because she needs to be lubed up or what?
 
2014-06-15 01:38:27 AM  
Meh, I already hedged my risk with Amazon Prime, an electric car and solar panels on my home's roof.
Other than the cost of milk & produce, what the fark do I care about gasoline prices?

fbcdn-sphotos-g-a.akamaihd.net

You people, highly dependent on cheap fossil fuels, amuse me.
 
2014-06-15 01:39:45 AM  

rikkards: MaudlinMutantMollusk: IgG4: Was Iraq actually exporting any oil?

Yeah... I was wondering just how big a contributor they are myself

/found this: Iraq was the sixth largest net exporter of petroleum liquids in the world in 2012, with the majority of its oil exports going to the United States and to refineries in Asia.

But yet the majority of oil imported into the US comes from Canada.


Look up the word, 'fungible'.
 
2014-06-15 01:44:14 AM  
I can't think of a single English word that people make a bigger deal about knowing than "fungible".

Get over yourselves; damn near everyone knows that stupid word.  Learn to use Nauseated/Nauseous correctly and you can start feeling proud of yourself.
 
2014-06-15 01:44:25 AM  

Nemosomen: Speculation serves to reduce volatility, as counter-intuitive as that may sound.


That is true, but in addition to its day job, speculation also allows for bubbles and panics.   Historically, the history of oil prices during Middle East conflicts is well established; it's not a stretch at all to predict them here.
 
2014-06-15 01:47:57 AM  

Hollie Maea: I can't think of a single English word that people make a bigger deal about knowing than "fungible".

Get over yourselves; damn near everyone knows that stupid word.  Learn to use Nauseated/Nauseous correctly and you can start feeling proud of yourself.

Yet, interestingly, they never mention "fungible" when discussing natural gas. It too is a fossil fuel that the United States produces in massive quantities, enough that we simply burn it at oil wells as "waste" - yet curiously, it's about 1/3rd the price per BTU in the USA than it is in anywhere else in the developed world.
 
2014-06-15 02:31:06 AM  

BolshyGreatYarblocks: But...but....but.....shale oil makes us a net oil exporter!!!!  We're the new Saudi Arabia!!!!


And if the Chinese will pay more for a barrel of oil than we will, our domestic producers will gladly sell it to them.  Ain't capitalism grand!
 
2014-06-15 02:45:41 AM  

AeAe: Prophet of Loss: The US is a net exporter of oil.

Why the fark is gas so expensive?


Your fellow citizens have no problem screwing you and everybody else for profit, that's why.
 
2014-06-15 05:05:21 AM  
I guess it was a good time for my truck to die. Time to go back to a 6 cylinder vehicle.
 
2014-06-15 05:12:25 AM  

Prophet of Loss: The US is a net exporter of oil.


Net exporter of energy.

/ftfy
//semantics
///3
 
2014-06-15 05:16:37 AM  

zimbomba63: caeroe: I'm late to the party but anyway...

Saddam should have been left in power. Ever heard of the expression "the devil you know"? At least with him we knew he could control the religious whackjobs.
It's a shame we can't sit back and let the two muslim factions kill each other, because of farking oil prices.

Then why aren't we supporting Assad?


Who says we aren't?

*adjusts tinfoil*
 
2014-06-15 05:35:24 AM  

Cyclometh: Heh. Glad I drive a Volt. Haven't bought gas in over six months and only twice in the last year.


doesn't the gas go bad after sitting in there for a long time?
 
2014-06-15 06:47:24 AM  

Hollie Maea: I can't think of a single English word that people make a bigger deal about knowing than "fungible".

Get over yourselves; damn near everyone knows that stupid word.  Learn to use Nauseated/Nauseous correctly and you can start feeling proud of yourself.


Is that like a fungus?
 
2014-06-15 06:59:09 AM  

Vertdang: Cyclometh: Heh. Glad I drive a Volt. Haven't bought gas in over six months and only twice in the last year.

doesn't the gas go bad after sitting in there for a long time?



Gasoline lasts a really long time, but the car also will run the engine for a while every few months if you don't end up using the gas engine for a long time. I've had it happen a few times.
 
2014-06-15 07:00:50 AM  

RanDomino: Nemosomen: "If Baghdad falls" is a mighty big "if."  ISIS holds Tikrit?  Does that city support the current regime, or were they more supportive of Saddam Hussein al Tikriti's regime?

Baghdad might not fall, but it might need to be renamed "Mogadishu North".

jaytkay: The stated goal was liberating the Iraqis from dictatorship.

The "stated goal" was to eliminate Iraq's nonexistent WMDs.


Before it began, it was about getting weapons inspectors back on the ground. Then it became about destroying the WMDs they didn't find.
 
2014-06-15 07:05:59 AM  

Cyclometh:
Al Qaeda supports these groups, but is not itself these groups. ISIS is not Al Qaeda, nor is ISIL- although it's not clear to me that those two are separate, they seem to be.


Al Qaida doesn't support ISIS, even Osama bin Laden thought they were too ruthless and violent.
 
2014-06-15 07:10:48 AM  

mikeray: Those people are seriously retarded and I don't mean disabled, they are farking jelly bean retarded and Sadaam was the same but he was the meanest retard. They absolutely deserved him and we farked up not knowing that.


You're a bigot.
 
2014-06-15 07:47:39 AM  
MrSteve007:
Yet, interestingly, they never mention "fungible" when discussing natural gas. It too is a fossil fuel that the United States produces in massive quantities, enough that we simply burn it at oil wells as "waste" - yet curiously, it's about 1/3rd the price per BTU in the USA than it is in anywhere else in the developed world.

Because natural gas is harder and more expensive to export than liquid oil. As soon as the special ships get built and pipelines approved expect the local price in the US to rise much closer to the global price.
 
2014-06-15 08:06:34 AM  

Dansker: mikeray: Those people are seriously retarded and I don't mean disabled, they are farking jelly bean retarded and Sadaam was the same but he was the meanest retard. They absolutely deserved him and we farked up not knowing that.

You're a bigot.


I'd rather be a bigot than a smallot!
 
2014-06-15 08:36:20 AM  
Gas prices go up because the oil companies raise the prices.
They raise the prices because people will pay more.
When they hit a number people won't pay, they come back down a bit.

It's not that hard to understand.
Choosing a random thing to "blame" it on is strictly a PR thing, it has no relevance.
 
2014-06-15 08:53:45 AM  
Gas prices go up to pay for politicians' campaigns during election years, and for hookers and blow
 
2014-06-15 09:14:50 AM  

zimbomba63: SurelyShirley: phillydrifter: Contracts were signed by Big Oil in 2k8

[i58.tinypic.com image 620x882]

Did you put her picture there because she needs to be lubed up or what?

 
2014-06-15 09:24:53 AM  

MrSteve007: Meh, I already hedged my risk with Amazon Prime, an electric car and solar panels on my home's roof.
Other than the cost of milk & produce, what the fark do I care about gasoline prices?

[fbcdn-sphotos-g-a.akamaihd.net image 850x482]

You people, highly dependent on cheap fossil fuels, amuse me.


Out of curiosity, what's the KW rating for your solar array?  And on a typical sunny day, how close do you come to hitting that output level?
 
2014-06-15 09:33:48 AM  

SurelyShirley: zimbomba63: SurelyShirley: phillydrifter: Contracts were signed by Big Oil in 2k8

[i58.tinypic.com image 620x882]

Did you put her picture there because she needs to be lubed up or what?


You guys are much too subtle for me.  I still think that giving her a lube job would be a good idea.
 
2014-06-15 10:04:12 AM  

ColonelCathcart: Prophet of Loss: The US is a net exporter of oil.

Net exporter of energy.

/ftfy
//semantics
///3


Net exporter of gasoline:

Link
 
2014-06-15 11:45:06 AM  

arcas: Out of curiosity, what's the KW rating for your solar array? And on a typical sunny day, how close do you come to hitting that output level?

It's a 3.8 KW set of panels, connected to a 3.6 KW inverter. Normally you don't want to do that, but since I have essentially one, smaller array that faces south and the larger array that faces west and the model of inverter has a pair of MPPT inputs, it'll handle a dual angle input.

I thought that with the two angles on the array, essentially 90-degrees off, that I would never reach the 3.6KW limit of the inverter, but boost my evening output but a few percentage points - however during cool, partially cloudy days of spring and fall, the inverter's output breaker will occasionally trip. So long answer short, it does at least 3.6 KW. I'm pretty sure it.will go above 4kw for a moment, via "edge of cloud evening" - which is poorly understood physics.

My best 24-hour level of output is 23 kWh, which isn't too bad for Seattle. I don't have enough data to give a solid daily average, based on annualized output - but I expect it to be in the 7-8 kWh a day range.
 
2014-06-15 12:46:25 PM  
Iraq is some lines the British Empire drew on a map. There is nothing to make the people inside those lines a nation, as their ethnic tribal and religious differences are to great for them to overcome. The only thing that can hold together such a mishmash is a dictator like Marshall Tito in Yugoslavia, or dare I say, Saddam Hussein. Even though he was wicked and cruel, he kept order and stability in the region, and was a bulwark against Iran. Dumbya Bush's misadventure was a terrible disaster all the way around. What we need to do now is just keep our hands off, and wait until the next strongman rises to power.
 
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