Contact your Congress critters to let them know that you are tired of high gas prices.
Posted on 07/16/2008 7:45:33 AM PDT by LexHoskin
Fall baby fall.
It’s sad but Iran can manipulate the price of oil at will. Tomorrow they will rattle a few sabres, issue a threat to Israel and we will watch oil prices rise $10.
The price for unleaded reglular in this area was $4.24 last night — the highest I’ve ever seen — up from $4.19 the day before.
Monday President Bush lifted the executive order blocking offshore drilling. The very next day oil has the largest one day fall in price in 17 years.
Whoever says that drilling will have no impact on the price of oil is a fool. Just the talk of drilling will influence the market.
Iran can only play that card so many times, especially since the world knows they doctored those pics of the missile launch.
Hmmm, Bush lifts the ban on offshore drilling and the price of oil is plummeting. Imagine that. If we even think about creating our own supply, OPEC cuts prices and increases output. Of course, Bush will not get credit for this but, that’s the way the market works people. If Congress would drop its partisan “we can’t drill our way out of this” line, we will see prices drop even further. OPEC may be greedy, but they’re not stupid. If the world says “fine, we’ll use something else to power our cars, factories, homes and so on...” OPEC’s cash cow would shrivel up and die. They can’t afford to have that happen. But, this time, they may well have sexually penetrated the canine.
The Dems are right in a way, drilling can’t be the ONLY solution. We need to develop alternatives so we can finally say to these OPEC countries, go pound sand. And, I believe, that we are very near that day. OPEC has overplayed its hand here and they are just beginning to realize that. And if the Dems can look past their lust for power just this once, we can really bring oil prices down, for now, and give the little guy a break.
Speculation?
But if it does, here is what is likely to be the spin.
1) Bush and his oil buddies are forcing the price down to help John McCain and will then drive it back up to maintain their obscene windfall profits.
2) Barack Obama and the democrats are showing true leadership in the expansion of efforts to bring alternatives to market, lessening our need for foreign oil and the markets are responding to a future with less demand.
3) Supply has not increased, and any potential increase from drilling is still 10 years in the future. This drop in prices show the GOP's misguided and wrongheaded approach to oil. More supply is not needed, but additional regulatory oversight and alternative fuel development is needed. Which the GOP will not provide. Vote Barack.
Contact your Congress critters to let them know that you are tired of high gas prices.
And this is after the biggest one day drop in oil prices in 17 years yesterday. Go figure.
It fell yesterday, and my local gas prices increased 20 cents...go figure.
That’s so sad! I’ll really miss his humor. (My daughter named our cat after him!)
U.S exports of diesel fuel in April of this year averaged 387,000 barrels per day, up almost seven-fold from 59,000 barrels a day in the same month a year earlier.
U.S. gasoline exports in April of this year averaged 202,000 barrels a day, the most for the month since 1945, when America was sending fuel overseas to ease supply shortages in other countries during World War II. Gasoline exports in April 2007 were almost half at 116,000 barrels per day.
Residual fuel exports in April of this year were 377,000 barrels per day, the fourth highest level for any month, and up 10 percent from 344,000 barrels per day a year earlier.
Just curious. Given the quite evident existing supply side balance of refined product, how is an accelerated domestic drilling program going to lower U.S. refined product prices?
It will reduce the price of the raw material, allowing refineries to make a profit at a lower sale price.
No refinery can undercut any other right now, because they are barely scraping a profit out now (because of the supply glut).
Every gallon of gas has a fixed bottom price based on crude oil prices. They also have a maximum price, or at least a strong inflection point, which appears to be about $4.00. Above that people stop driving.
That’s why gas prices have not gone up as much as oil prices have. They simply couldn’t raise the price more, not enough people were willing to pay.
Wholesale gasoline is down 30 cents from a couple days ago, which was its peak. This will show up at the pump if it holds. Gasoline is over $9 in some Alaska villages such as Anaktuvik.
Only if you assume some form of government price mandate on domestic production. Otherwise, domestic production just adds marginally to existing, global supply sources, for which there is no evidence of shortage.
Just wait until the MSM annnounces that the unexpected rise in inventory was false.
/s
He would be honored
Any numbers? Usually the increase/decrease is insignificant but however the prices move that day is said to result from that move anyway.
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