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Oil, Gas Prices Drop on Bush Supply Move
AP ^ | 4-25-06 | AP

Posted on 04/25/2006 2:40:18 PM PDT by keithtoo

Crude oil and gasoline futures fell Tuesday after President Bush gave the Environmental Protection Agency the authority to relax regional clean-fuel standards to attract more imports of gasoline to the United States and to make it easier for supplies to be moved from one state to another. President Bush also said he would halt deposits of oil to the nation's strategic petroleum reserve until the fall, but analysts said that measure would have next to no impact on crude prices and certainly would not help make gasoline any cheaper. Even the fuel-specification waivers will have a marginal impact, analysts said, given that the main force behind today's soaring pump prices is the near-record price of crude oil.


TOPICS: Business/Economy; Government; Miscellaneous; News/Current Events
KEYWORDS: bush; energy; gasprices; oilprice
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To: Always Independent
When they cut back we open the spicket to influence price. When the cartel increases supply,we cut back.

No our "spicket" is always wide open. Why would we want it any other way?

21 posted on 04/25/2006 3:04:37 PM PDT by thackney (life is fragile, handle with prayer)
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To: Cobra64

"And when we had the Carter era of 18% inflation, gas lines, 12% unemployment and gutting the military. Now those were the days."

Yeah I remember those days, weren't they great? (sarc)

I will take these days over those days.....


22 posted on 04/25/2006 3:04:44 PM PDT by Kimmers (If you want peace you must be prepared for war......)
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To: keithtoo

Great News!
I’m down to only about 1/3 of a tank, so I need to fill up in the next week. This should drop the price maybe as much as two cents a gallon!


23 posted on 04/25/2006 3:07:50 PM PDT by R. Scott (Humanity i love you because when you're hard up you pawn your Intelligence to buy a drink)
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To: FreedomNeocon
Sure... you have access to the 'way back machine'?

That would be a handy gadget. Gas at less than $.50 a gallon, gold at $40 an ounce …
24 posted on 04/25/2006 3:09:22 PM PDT by R. Scott (Humanity i love you because when you're hard up you pawn your Intelligence to buy a drink)
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To: Shermy

Easy to throw an accusation isn't it?

Sort of a verbal molotov cocktail.

Maybe the Libs who shut down busnesses, and destroy refinery capacity, drilling in proved reserves and make enemies out of one-time friends like Iran would have more compassion for us.

Oops, John Kerry advocates 5.00/gal. gasoline.


25 posted on 04/25/2006 3:12:27 PM PDT by TFMcGuire (Either you are an American, or you are a liberal)
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To: MadIvan

Close to US$ 54! Ain’t all that tax great?


26 posted on 04/25/2006 3:12:46 PM PDT by R. Scott (Humanity i love you because when you're hard up you pawn your Intelligence to buy a drink)
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To: thackney

I agree there. But I can't resist messing with the cartel!


27 posted on 04/25/2006 3:14:40 PM PDT by Always Independent
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To: L98Fiero
Ahhh, malaise.

I forgot that. Do you still have your cardigan sweater? LOL

28 posted on 04/25/2006 3:15:52 PM PDT by Cobra64
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To: Rakkasan1

I've actually defended Coleman for his stance on ANWR because it was a campaign promise, I think pols should keep their promises, and without it he probably wouldn't have been elected in that state. Though the Wellstone Memorial backlash didn't hurt.

I won't defend him on the pandering at expense of the oil companies because he and Congress won't get their butts in gear and do things that would help alleviate this energy shortage. To my knowledge he made no promise not to cut the federal, and advocate states cut, the gas tax.

He'd better occupy his time wiping that tax off the books then putting out Liberal propaganda.

I generally like Cioleman well enough, far better than I expect of a Republican from his state. But my tolerance for rudderless pandering has reached a new low.


29 posted on 04/25/2006 3:16:46 PM PDT by Soul Seeker ("No Illegal Alien Left Behind Act" - (quote: Jeff Sessions) - 4/6/06)
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To: Rakkasan1

Good post!

Senator Coleman, Look! There is a price gouger in your mirror.


30 posted on 04/25/2006 3:19:55 PM PDT by TFMcGuire (Either you are an American, or you are a liberal)
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To: keithtoo

Until we build new refineries and start pumping oil from our land I will never believe the the government has any intention of doing anything but gum flap.

The people need to demand that the government authorize 10 new refineries and open all viable oil fields. If they happen to find oil in my back yard I will donate my property to the cause.


31 posted on 04/25/2006 3:21:07 PM PDT by Dutch Boy
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To: thackney

By small fraction, you mean more than half?
-----
Your model looks like it was created by the oil companies...:-) --- it leaves out profits at the manufacturing, wholesale and retail levels. No way that crude is near 55%. Not at todays inflated prices.


32 posted on 04/25/2006 3:21:35 PM PDT by EagleUSA
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To: R. Scott

I utterly hate it. Britain is a net energy exporter, it should not be like this.

Regards, Ivan


33 posted on 04/25/2006 3:22:16 PM PDT by MadIvan (I aim to misbehave.)
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To: MadIvan

Right! What about those North Sea oil fields?


34 posted on 04/25/2006 3:25:26 PM PDT by R. Scott (Humanity i love you because when you're hard up you pawn your Intelligence to buy a drink)
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To: R. Scott

The North Sea Oil fields are still producing - the government is actually giving companies incentives to drill.

I am just so sick of the Middle East. I long for the day when we are free to turn the Islamic world into the largest sheet of glass on the planet.

Regards, Ivan


35 posted on 04/25/2006 3:29:14 PM PDT by MadIvan (I aim to misbehave.)
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To: EagleUSA
The percentage of the retail price for gasoline that represents the real cost of crude oil, is a small fraction. ... I listened to an "oil company executive" on a talk show today who tried to convince his audience that the price of crude change over the past 18 months or so had a direct correlation to the pump price and was the major cost controller. WHOA BUDDY! --- not so, for those of us who can do arithmetic
You sure about your arithmetic? 1 barrel of oil = 42 gallons. When the price of crude gets to $84/barrel, crude costs $2/gallon before refining costs, shipping, etc. And you don't get 1 gallon of gasoline for each gallon of crude. Not sure what kind of fuzzy arithmetic you're using to assert that the price of crude is such a small fraction of the pump price.
36 posted on 04/25/2006 3:30:08 PM PDT by Chameleon
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To: MadIvan
I am just so sick of the Middle East. I long for the day when we are free to turn the Islamic world into the largest sheet of glass on the planet.

I have to admit, I think that would solve a lot of problems. It would eliminate the few good with the masses of bad – but … has anyone done a cost benefit analysis?
37 posted on 04/25/2006 3:31:39 PM PDT by R. Scott (Humanity i love you because when you're hard up you pawn your Intelligence to buy a drink)
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To: EagleUSA

A barrel of oil is 42 galons.

At $73.00/barrel. Crude oil costs $1.74/gal.

In Englewood colorado, gas near my work is $2.72/gal.

Thus, in my area, crude acounts for 64% of the cost of gasoline.

Gas companies are doing what they can, very sensitive right now to accusation of so-called gouging.

If a Democrat or RINO politician wants to find a, "Gas Gouger," he simply needs to look into the mirror.


38 posted on 04/25/2006 3:32:13 PM PDT by TFMcGuire (Either you are an American, or you are a liberal)
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To: EagleUSA
Gasoline and Diesel Fuel Update, Energy Information Administration

Compare oil and gasoline prices from a decade ago. Which one has risen more?

39 posted on 04/25/2006 3:34:57 PM PDT by thackney (life is fragile, handle with prayer)
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To: R. Scott

Er,

Make that,

A barrel of oil is 42 gallons.

At $73.00/barrel. Crude oil costs $1.74/gal.

In Englewood colorado, gas near my work is $2.72/gal.

Thus, in my area, crude accounts for 64% of the cost of gasoline.

Gas companies are doing what they can, very sensitive right now to accusation of so-called gouging.

If a Democrat or RINO politician wants to find a, "Gas Gouger," he simply needs to look into the mirror.


40 posted on 04/25/2006 3:35:12 PM PDT by TFMcGuire (Either you are an American, or you are a liberal)
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