Heard on the radio yesterday that gasoline use is down 5% from last year. People are definitely driving less. And that doesn't include the drop from 2007-2008

 

And what makes it worse is those who do actually listen to the sound bites often only hear a small amount of the information and go nuts over it. Remember the no fat diets about 15 years ago. Everyone was crazy about eating no fat, when all of the research, even at the time was suggesting a low fat diet, they are not the same thing. Look at the fads that the idiots engage in mostly they are "disproven" a few years later, but if you actually look at the resources of the time they were disproven at the time. For the longest time eggs got a bad rap, because the yolks had a high level of LDL. What people were missing is that the whites have a high level of HDL which balance the LDL. I learned that before eggs became "bad" for you. I, and I'm sure most of the people on this site, could go on and on listing fads that become wildly popular only to find out people didn't have the whole story. Many of those fads had the whole story out there, it's just people didn't care to research, like you said, to find the whole story.

 

I still hold hope that prices will be down to somthing like $2.50 sometime within the next year. While I like Obama, I think he is making a big mistake by not pushing a reasonable ammount of drilling in the US.

 

$2.50 a gallon?!?! No way thats gonna happen unless your messiah is really the messiah

 

Sucks I have two v8's now. Before I had two 4 cyl and one v8.

 

They gave you a fart? Those a-holes ripped me off! - Og

 

Hey Frank, we might both be right. (Boy ain't that a scary thought) This article claims people have been driving less in the past 6 months.

http://www.usatoday.com/news/nation/...ess/51716466/1

 

Well, you do like the Hope and Change platform....

Hope for the price of fuel to change, just don't hold your breath while you are doing it.

Your man is helping you out by getting in bed with another South American country for drilling for oil....

Why is it this administration thinks it is a good idea to send tax payers money to South America for them to drill for oil ?

 

Because he is an IDIOT! 'nuff said.

 

Look up George Soros and his investments and campaign contributions, Petrobras, and what country Obama has given billions so they can develop their oil infrastructure.

Hints:
-Soros gives LOTS of money to people that have (D) after their name.
-He has invested quite a bit in Petrobras.
-Petrobras is the national oil corporation of Brazil.
-Obama gave billions to Brazil for oil development.

Connect the dots...

 

It's not a shortage right now - it's actually a surplus. However, the oil companies are exporting refined product to China where they can make more money on it, artificially creating a domestic shortage.

This one belongs squarely on the shoulders of the oil companies, not necessarily Obama. We have PLENTY of oil, folks.

 

I know about the "loan" that is 8% or nothing.

I was referring to the most recent one with Mexico.

 

 

Just to correct 2 things.

1. There is no domestic shortage, artificial or real of fuel.

2. Oil companies do not make more per gallon selling fuel to China or any other country than selling domestically. It is sold for market price.
Market Price is set by supply - demand ratio.

Mid 2000's when there was a refining capacity shortage in the US, where do you think oil companies had to get the fuel from ?
Oil companies went and bought it on the open market from whom ever would sell it.
This increased demand, and with a fixed supply, at that moment in time, the price went up.

Oil companies are not "fixing" the price of fuel.

You leave off the every $1.00 increase in a barrel of oil ( Brent crude as the basis ), there is a $ 0.025 increase in the cost of fuel.
Brent oil refines at a different rate when compared to WTI, so the $ 1.00 increase per barrel formula is slightly different when compared to WTI oil price increases.
Brent has gone up $10.00 + in 2012 alone, so straight away a refiner using Brent north Sea has a 0.25 increase in raw material costs.
Going from the recent low in DEC-2008, Brent was at ~ 35.00 / barrel. This week, ~ 123.00 per barrel.
That is an $ 88.00 increase in the raw material costs alone.
88.00 * 0.025 = $ 2.20 increase in fuel costs, not taking into account any demand constraints.

Oil companies make out on the oil that they can refine from their own fields, but this does not fill all the demand they have, so they need to purchase on the open market. 2008 oil companies had losses with oil @ ~ 35.00 / barrel for Brent North Sea ( WTI would be lower yet ).

 

for your average Joe "that's me" it's hard to swallow price jumps at the pump of 15 cents from morning to evening. I know they are pumping the same gas they had this morning.. a question for SSCULLY's comment... oil at 35 dollars a barrel and oil at 100 a barrell did not translate into that much of a difference in price at the pump.. percentage wise anyways?