GAS PRICES

My Brain | 12-16-10 | envisioning

[yatros from flatwater]

The real answer is that the value of the dollar is falling, which means oil goes up in price when paid in dollars. However, the price of oil in relation to other real commodities has not changed much at all, as reflected in this graph:

Have you noticed that a pre-1964 silver dollar now costs around 25 Federal Reserve Notes? So actually the price of gas has gone down in real terms as a gallon of gas in the early 1960's was $0.25 - $0.35.

[trumandogz]

Are you saying that there are not 562 more rigs in the US today than there were a year ago?

Or are you saying that the only reason it is more expensive to drill in the US is due to taxes and regulations?

And what economic model are you using to determine that without regulation, the price of a barrel of oil would drop to $28.00 a barrel?

[nomad]

Snow up to your knees and cold as a witch`s..uh, very cold.

[TrumpisRight]

I’ll take them one at a time....

“Are you saying that there are not 562 more rigs in the US today than there were a year ago?”

>>NO

“Or are you saying that the only reason it is more expensive to drill in the US is due to taxes and regulations?”

>>YES

“And what economic model are you using to determine that without regulation, the price of a barrel of oil would drop to $28.00 a barrel?”

>>Supply and demand and a strong dollar!! Also taking what the US government gives in supplements to the middle east for their oil and give it to our US oil producers.

Ready for your phase 2 questions in the morning, time for bed.

MARRY CHIRSTMAS one and ALL!!

[Ramius]

Not really a fair comparison. Oil and gold are both commodities... They are going to move together.

[trumandogz]

So, you believe that without the current regulation, that it would be cheaper to drill in Alaska, the Gulf of Mexico, Wyoming or Texas than it is to currently drill in Saudi Arabia?

If you believe that to be true, then please explain to me how one could drill a deep well in the US cheaper than they could drill a shallow well in Saudi Arabia.

Hint: On average, oil wells in Saudi Arabia are much shallower than oil wells in the United States.

[reaganator]

Why are gas prices so high?

Have you not witnessed the concerted attack on oil and the oil industry over the past few decades?

The leftist bureaucracy, the EPA knows what they are doing.

They must destroy the American economy to defeat America. the American military can not be defeated.

To defeat America, you demonize, attack and destroy the oil industry and it’s product oil, the lifeblood of the American economy.

Because of this ongoing attack, would gasoline prices by anything but high?

Fight back, support oil exploration and production.