Why isn't my gasoline bill down to $2?

[ChicosBailBonds]

I was told if we all voted for Nancy, Harry, Hillary and the gang it would be down to $2 now....yet it's back up to $3.50 out here.

Dang nabbit.

 

[Murffieus]

Hillary or GWB nor any other politician has any control over the price of gsoline-----it's based on the price of crude----plus the market is currently discounting increase demand for the summer driving season-----plus the possibility of hurricanes raising havoc with the refiners in the Gulf.

Then too there is the world wide economic boom which creates demand for crude oil-----when the boom is over the price of gas and crude will come tumbling down-----but those in the industry that are in the know like Boone Pickens and Goldman Sacks say that $100 crude and $4-$5 per gallon of gasoline will happen first !

[nathanziarek]

Maybe you should listen to people who know what they are talking about, then. Or is this one of those famous "Straw Men" I keep hearing about?

Politicians have very little control over pricing, but every control over how funding affects future power alternatives. Ridiculous that we live in a day and age where we can't seriously talk about electric vehicles and solar/wind generation without having someone roll their eyes.

I know demand has dropped as prices rise, but I wonder how much? At some point the inelastic demand has got to catch up with us. I don't drive for the love of driving. I drive because I have to get some where. Gas at $2 or gas at $10 -- I still have to get to work.

[ChicosBailBonds]

But but but but they promised to get get it lowered   


Of course politicians can't control those prices, yet idiots galore believe these people.  Amazing.

[mviale]

The OC still like bush these days?  Chicos - this is like MU holding onto Dukiet. Cut bait.

[augoman]

if only there had been a viable alternative. 

Interesting note, the prices rise directly with increases in futures prices, but don't fall as futures prices do.  With the aforementioned economic boom, worldwide demand (China, Korea) has gobbled up surplus production even before opec can reduce output, keeping prices high.  Finally, those environmentalists calling for $3/gallon gas for years have their wish..., unfortunately, without the desired effect.

[muarmy81]

But but but but they promised to get get it lowered   


Of course politicians can't control those prices, yet idiots galore believe these people.  Amazing.

I'm sorry but anytime government tries to control or oversee anything they ruin it.  Just let the market run its course and the "fair" price will situate appropriately based on supply/demand.

[tower912]

Because Exxon alone will make another $10 Billion in pure profit this quarter alone.   Thank god we gave them a tax break so they could explore more.   Whatsoever would they have done for money otherwise?   How about a windfall profits tax to pay for this war instead of the costs being pushed off on my 4 month old son?

[Murffieus]

muarmy is correct----the marketplace should dictate the price (supply & demand)-----an excess profit tax stifles initiative to develop new fields. At some point the price of crude will reach a point where other forms of energy become economic alternatives and the price of crude will come tumbling down----and stay down for awhile!

The sooner that happens the better not only for our pocket books ----but oil also finances terrorism (Iran)!

[tower912]

Of course, if the market place is being manipulated by the large players, a la Enron causing the rolling brownouts in California in 2000/2001 through market manipulation, then it is the duty and obligation of government to punish those who prey on others for their own enrichment.    And, there have been some high profile offenders brought to justice in the last few years.   Kudos.   But how is it that there all of these 'obstacles' that are creating these prices, yet the major oil companies combined somehow managed to make $100 billion in pure profit last year?   Perhaps they are manipulating or creating these obstacles to their advantage.   They certainly aren't suffiering.

[Chili]

a few refineries are down right now and not opperating at full capacity thus supply is short so price goes up. econ 043 - guns and butter.

[tower912]

A refinery fire today.   $4 gas by memorial day.

[ChicosBailBonds]

The OC still like bush these days?  Chicos - this is like MU holding onto Dukiet. Cut bait.

The OC doesn't like Bush, just like most things I don't like him for.  He acts like a liberal except on taxes and terrorism.  His immigration policies are a joke, his social spending a joke....please God put a real conservative in there.

Fred Thompson...where are you???

[tower912]

Getting treatment for cancer.

[ChicosBailBonds]

Cut taxes on gas, don't force reformulations that are costly, etc, etc.

The oil companies make about 11 cents in profit on every dollar of gas, much less markup than many industries.

Republican and Democrat leaders have put them through the gauntlet time and time and time again, just recently a few months ago and no price fixing has ever been found.

I don't understand why people are down on USA companies making large profits...I remember a time when this was a good thing.  Sigh

[ChicosBailBonds]

Getting treatment for cancer.

Yeah, I know...bummer.   Hoping he throws his hat in the ring.  Would love a Thompson / Hunter ticket.  Something in strong contrast to what I know will come from the Democrat side.

I doubt it will happen, however.

This election looks to be one where I vote and leave the President spot vacant like I did in 1996 and vote for the other offices.  I'm excited about this field as I am for a root canal.

[Murffieus]

So Chicos---you're going to bite your nose to spite your face-----doesn't make sense to me to have Hillary or Obama appointing the justices for the next term----or raising my taxes-----or trying to "reason" with radical islam, which has no intention of being "reasonable"!

[nathanziarek]

It'll be great if a democrat wins and _has_ to raise taxes in order to pay for the enormous debt a "conservative" president handed them. Just can't win, I guess!

[ChicosBailBonds]

So Chicos---you're going to bite your nose to spite your face-----doesn't make sense to me to have Hillary or Obama appointing the justices for the next term----or raising my taxes-----or trying to "reason" with radical islam, which has no intention of being "reasonable"!

I think Fred Thompson is going to run and that is where my support is going Murff.  I have been intrigued with Romney for 10 years having some small involvement in the Salt Lake City games....great leader.  After that, I wouldn't vote for McLame or Giuliani if you paid me and the politics of Obama and Hildebeast are enough for me to buy a hammer and sickle flag.

[ChicosBailBonds]

It'll be great if a democrat wins and _has_ to raise taxes in order to pay for the enormous debt a "conservative" president handed them. Just can't win, I guess!

I think you need a better understanding of deficit vs debt....there is a huge difference and your post indicates you are confusing them.

[nathanziarek]

OK...this is an informal message board with an off-the-cuff remark. I'm sorry that I used a slightly wrong word and confused the topic.

My inaccurate wording aside, we're running a 400+ billion dollar deficit that someone is going to have to fix. The administration's forecast (as all administrations forecasts, can't knock this one for making it up) focuses on the future -- when they are no longer in office and are pretty unreasonable.

So, as to my original point, if a Democrat wins in 08, and they follow the road map set up by the Bush administration, they will, in 2010, have to sit and watch as the AMT hits the pocket books of any couple making more than $100,000 and be villified by conservatives for raising taxes, yet again.

Like I said: you just can't win.

I'm sure I made a ton more mistakes here, so enjoy feeling superior.