House moves on surging oil prices

AP via Yahoo! News ^ | 5/23/07 | H. JOSEF HEBERT

[dashing doofus]

“This country has come to feel the same when Congress is in session as when the baby gets hold of a hammer” Will Rogers

[Always Right]

I don't see a Memorial Day "surge," do you?

Very educational chart, but how in the world could you possible see a Memorial Day surge on a chart that has 5 year increments. You would need to see weekly details in order to discern it.

[E. Pluribus Unum]

Seasonal changes are hard to spot.

If a Memorial day surge in gas prices happens every year, it should be easy to spot.

It it's hard to spot, it's probably because it doesn't exist.

Gas prices are set in the commodities futures market. Anybody who thinks the petroleum companies are gouging is free to participate in the plunder by buying or selling petroleum futures.

Hillary turned $1000 into $100,000 in ten months in the cattle futures market, after all.

blue line Hillary Clinton Futures Trades Detailed

[E. Pluribus Unum]

You would need to see weekly details in order to discern it.

You're the one who made the assertion. An honest person wouldn't make a statement like that if he didn't have evidence. Where's your evidence?

[mombonn]

We’re at $3.65 here in mid-Michigan. Even some of my normally rational, conservative friends are screaming that the govt. should do something.

[PeterPrinciple]

Surging seems to be the fashion word of the day for the mainstream media, what happened to tsunami?

[Paleo Conservative]

Price controls aren’t the answer, but more refineries and competition is.

There's lots of competition. Oil is produced in a world market. The problem with refineries is getting regulatory approval. Even if the regulatory agencies were to allow a new refinery, the NIMBY's locate near a proposed site will use the courts to slow down the process. People want nearby oil refineries about as much as they want a nearby nuclear generation plant. What's really needed are new refineries not located on the US gulf coast. We were lucky in 1995 that Hurricane Rita didn't strike the Houston ship channel just weeks after Katrina shut down the refineries near New Orleans. If that had happened there would have been much worse shortages.

[litehaus]

Watcha doing interjecting ACTUAL FACTS into a political argument/discussion.....LOL...

[Iscool]

"Mom and Pop grocer and gasoline station owners can't wonder what every court is going to decide,"

There are no Mom and Pop grocery and gas stations left...

There is no competition...You pay what I say, is the policy...

Anything that will stop these legalized robbers is fine with me...

[Uncle Miltie]

Punish Gas Profiteers:

ABOLISH THE FEDERAL GAS TAX!

[Empireoftheatom48]

NIMBYS?

[Always Right]

You're the one who made the assertion. An honest person wouldn't make a statement like that if he didn't have evidence. Where's your evidence?

I drove by the pump on the morning of May 15th and it was $3.15, by that afternoon it was $3.35. I drove by the pump this yesterday and it was $3.59. That's a surge. A very similar thing happened last year. I really don't have the data, but it does seem to be a yearly ritual.

[thackney]

gas and oil reserves have been increasing

Gasoline stocks are increasing but still low.

[Enterprise]

Complaining to politicians about the price of gas is like Little Red Riding Hood complaining to the Big Bad Wolf because her grandmother is missing.

But you knew that.

[kylaka]

Tsunami and Gravitas are vacationing together in Tahiti.

[thackney]

oil leak in the Alaska pipeline and it will be shut down for repairs

It was not the Alaska Pipeline and it is not an oil leak. It is a water leak at one of several gathering centers that feed the pipeline. The pipeline did not stop operating.

[Always Right]

Here is a third data point from 2004 indicating rising gas prices that year around Memorial Day....

Memorial Day auto travel to rise 3.4%

[E. Pluribus Unum]

I drove by the pump on the morning of May 15th and it was $3.15, by that afternoon it was $3.35. I drove by the pump this yesterday and it was $3.59. That's a surge. A very similar thing happened last year. I really don't have the data, but it does seem to be a yearly ritual.

You'd make a great global warming advocate: a couple of anecdotal observations and suddenly there's a scientific consensus!

;^)

[thackney]

You would need to see weekly details in order to discern it.

Here you go. You won't find your assumption like you expect.

U.S. Regular All Formulations Retail Gasoline Prices
http://tonto.eia.doe.gov/dnav/pet/hist/mg_rt_usw.htm

On a monthly basis, a summer run up is not very common.

[Paleo Conservative]

NIMBYS?

Not In My Back Yard.