I really don’t think you can blame our President for the price of gas increasing. Refineries close for maintenance or whatever and prices rise. We can’t allow the multibillion profits to suffer while the refinery is down so they raise the price. With all of their tax incentives and such, the oil companies could afford to leave the prices at the current levels. So they lose a billion dollars but still end up with a profit of billions. Look at their profit statement at the end of March. They make money and we get screwed without any foreplay. This is one of the items that the repugnicants refuse to discuss. Write your congressman (good old boy Rodney) and voice your opinion. Other wise, bend over and continue to take it.
Thank the Lord it does not cost what it’s worth.
Did you ever try to push a Suburban? Gasoline is remarkable stuff, and the price is amazing, considering what it takes to find, refine, and deliver it.
And the price in Louisiana includes about 39 cents per gallon federal and state tax.
Speaking of economics, our current gas price increases have a lot more to do with the supply and demand of the American dollar than the supply and demand of refined petroleum products. America is currently exporting refined gasoline, so supply is over satisfied while demand is down. However, Bernanke is pumping out dollars to cover up Barry’s intentional wrecking of the economy leading to an over supply of dollars while demand for dollars is down. This over supply of currency is devaluing the dollar, meaning it’s worth less and therefore more are required to purchase an equivalent amount of goods and services. Welcome to Banana Republic hyperinflation from hell, America!
Yes, you are correct about China having a huge influence on the price of energy due to their insatiable appetite to compete industrially. This is a very complex international economic situation and doesn’t lend itself well to explanation through comments. Simplified, America exports gasoline meaning that our demand is more than satisfied, so we’re not paying extra because we don’t have enough to go around like the ’73 oil embargo.
Canada has already announced that it will sell the oil it recovers from the tar sands to China if America insists on killing the Keystone Pipeline. The environmentalists will have gained nothing for their obstructionism than higher fuel prices for Americans, which they want to make alternative energy more competitive with fossil fuels. The tar sand oil will be sold somewhere: either to Americans or to the Chinese to facilitate their rise in the world. This outcome fits in nicely with Obama’s goal of reducing America to third world status.
Inflation is the major driver in rising commodity costs which are being manifested in higher food and fuel prices. Consumers, fearing the coming economic collapse, have pulled back on spending but still must purchase food and fuel, the two areas where prices have been rising. See, I told you this stuff is complicated.
Anyone with a smidgen of common sense would realize the price of fulel took a dramatic plunge due to the Presidential election, and the fact the Production aspect took a pause to see which way the election would fall. The Keystone Pipeline was another factor…..there is always more than meets the eye.
America exports a lot of refined petroleum products. Research will reveal to the interested that much of our refined products are made from oil that costs less than the price often quoted on the evening news. There are different grades of crude oil, and they require different refining equipment and methods. Many of the exported products are made from imported crude, which tends to be (but is not always) more expensive than many domestic grades.Because refined products typically are more valuable in overseas markets, they can cover the increased costs of the imported crude and extra shipping costs.Note that Americans do not pay more for products because “we are selling ours to others”, as I have seen falsely claimed in some of the press. The petroleum refining and marketing business is very complex and operates on highly volatile and sometimes razor-thin or nonexistent margins. People love to complain because it’s not free, or because they think someone (“The Man”?) is getting rich at their expense.
At one time (1800s) $5.00 could by a suit of clothes and a pair of shoes and still have money left over for a meal. I, too, can remember the 1950s when we guys and gals would pool our money to buy gas at 25 cents a gallon Once we even paid the old Rose Oil Company with 50 pennies one night. Those days are gone, never to return. Here is how it works: refineries close; prices rise; refineries reopen but the price doesn’t return to what it was before and we are happy that it went down. The oil companies thank us each day for our stupidity.
I issue a friendly challenge to Oldman and others who remember what the price “used to be”: Compare the price you paid per gallon “then” to the hourly wage at that same time.
Remember: the Dollar (and cents) is not a fixed unit of measure.
A carpenter told me once back in the 1980s, that he worked on Bogard Hall at Tech when the WPA built it in 1939-1940, and he made as I recall 25 cents per hour. A more skilled carpenter made about 40 or 50 cents, I forget.
Anyway, gas like anything else, “costs” you whatever amount of work it takes to buy it. I first paid $1 for a gallon of gas in spring 1980, and that dollar would buy more than 3 times what one dollar will buy today. I saw a new Cadillac Coupe de Ville about that time, and the window sticker had a list price of just over $15,000. I wondered how anyone could ever afford one. That is more than double what a similar car listed for in the early 1970s.I said, “Boy, if I could just graduate from La Tech, I might get one of those one day.” Well, I graduated, and they are $50,000 now, pluse the Coupe de Ville is no longer made anyway.
Think, use your brains out there, don’t let politicians manipulate you with false and misleading “information”. The media for the most part is not only not checking any of this, they are helping politicians lie to us.
This is the perfect web site for anyone who hopes to find out about this topic.
You know so much its almost tough to argue with you (not that I personally will
need to…HaHa). You certainly put a fresh spin on a subject that’s been discussed for decades. Excellent stuff, just great!