Posted on 05/11/2011 4:44:09 PM PDT by YankeeReb
As the petroleum market spins its wheel of fortune daily, drivers can't seem to catch a break. Crude prices had been headed for the moon, then they crashed 15 percent last week, taking the worst weekly price beating since 2008.
Oil made up a bit of that ground on Monday, but at the pumps drivers have seen no relief from last week's tumble in crude oil prices.
The pump price of gasoline, also up slightly Monday, continues to wander around like a child lost at the fair, seemingly unattached to the price of crude.
You could say we were in the petroleum funhouse -- only it isn't fun. Motorists, whipsawed by prices, are fuming.
Brian, a freelance photographer from Pennsylvania who asks that his last name not be used, calls the oil companies "opportunists" and "profiteers." If there were any real shortage of gas, he says, you'd see gas lines. But you don't.
"There's plenty of gas, assuming you're willing to pay the price. These guys buy gas cheap and hold it; then they run the price up and sell it high. Then they run it back down again. It's a racket. It's fixed," said Brian. "If there's a shortage of materials in my business, I have to pay more and make less. They pay less and make more. They're economic terrorists."
(Excerpt) Read more at abcnews.go.com ...
So typical of ABC and the rest of the water carrying media, no mention of this Regime's policies and of The W0n's openly calling for $8.00/gal gas.
Funny is it not how you would never see this type of report from ABC when Bush was in office.
The media is working hard to get Obama reelected. They know he is in trouble.
Here’s why gas prices won’t drop - the oil companies want OBAMA OUT...what better way to insure he won’t be re-elected than to keep prices high? God bless them...prices will drop through 5/12 to get the libs believing they have it in the bag...then prices will rise a lot...just in time for the election...They not only know how to drill for oil, they know from whence their bread commeth...
I'm getting to wonder if some in the MSM aren't seeing the writing on the wall finally and jumping the Marxist ship?
Baraq has always wanted Euro level fuel prices, and several of his cabinet (Steve Chu and Lisa Jackson) are on the record with similar desires. The Baraqqis are getting exactly what they wanted.
It’s up to Republicans to point this out to the idiots like “Brian” in this story who likely voted for Baraq in 2008.
Oil is priced in dollars. The dollar is crashing, so it takes more dollars to buy a barrel of oil.
Doesnt really take a rocket scientist to understand this.
Watch abc’s good morning America and you will lose that notion.
LLS
Watching MSM news I would most likely turn to stone before being able to lost that notion.
Most excellent tag line LLS!
Not to worry the Bozo POTUS will issue “Gas stamps” for his
“Food Stamp” crowd and every illegal he can find!
It not like the oil companies are unwilling refine more gasoline. Requests for increasing capacity are rejected by the EPA and Federal Government time after time. Obama wants to buy gasoline abroad. We would get more bang for our buck be refining more with our own local refineries and preferably our own domestic crude. But NOOOOOO, We got to blow our money in some other God forsaken country.
“Here’s why gas prices won’t drop - the oil companies want OBAMA OUT...what better way to insure he won’t be re-elected than to keep prices high? God bless them...prices will drop through 5/12 to get the libs believing they have it in the bag...then prices will rise a lot...just in time for the election...They not only know how to drill for oil, they know from whence their bread commeth...”
If this works, I’m gladly willing to pay the “Democratic Voter Re-Education Tax”.
Very sad.
Hold your horses. Oil companies aren't run by angels. I think it's Chevron that's running a campaign of commercials plugging "alternative" energy and appealing to the hysterical "we've got to get on it NOW!" mode of save-the-earth envoronmental sickness. What ever entity is endorsing that on the part of Chevron is plain wicked in short-sightedness and willingness to exploit a destructive human vanity that Chevron must know is pretend pretty play.
That's a REAL BIG RED FLAG as to the real motivations behind oil companies. The best way to control prices in oil is to deregulate the whole scene, from environmental regs on up.
The wind-solar-algae-unicorn kindergarten rainbow is a subsidized boondoggle that WE pay for, and oil companies are in on the take. Otherwise, they'd not be wasting their marketing dollars on it. Heads up.
Because rats don’t want them to. There - just saved myself from wasting some of the few precious moments I have left on this earth reading ABC drivel.
Last week, our area saw 1) a 20-cent drop in gas prices in 24 hours and then 2) a 25-cent increase over around 36-hours. Spot oil fluctuated by $3-$5 or so and the spot gasoline blendstock price by 1% or less (from memory, so add a +/- to the numbers). The dollar rose substantially for the first gas price drop, dropped back a bit when the price increased and is rising, so far, today. Our stations can only, by law, change prices 1x/day and today they were caught out: dollar up, gas and blendstock down, yet pump prices are up a nickle. So, today, we buy no gas, tomorrow we use some storage gas and we now carry a 5-gallon gas can and buy some extra as close to home as possible when the price goes down.
Holder is keeping tabs and today Drudge has an article concerning a Federal investigation of DC stations that had a .25/gal price rise.
I think it all depends on what the price in the station pipeline was when the gas was purchased at wholesale. I have seen rapid response locally to changes in wholesale or spot prices. Interestingly enough, our local gas is usually a nickle higher than gas in a city of 50k just 45 miles away, especially when the city stations briefly lower the price. These stations are part of the same chain. That nickle increase vanishes within 20 miles of the city.
I can buy potatoes, onions, bananas, Granny Smith apples,eggs, milk, bread and butter for way less in my gas station convenience store than I can even at Walmart. If I am in a hurry, they often have sandwich specials that are just as good (or bad) as the fast food places for substantially less. Just for that, they get my business. I believe they need to sell these cheaper grocery items to generate the majority of their profit because they barely make any profit on the gas.
You raise a lot of issues, many good ones. All I’m saying is that there may be Chevrons among us, but they are a small minority...Take your basic ExxonMobiles, Sunocos, etc., and they are actively working to subvert Obama.
I hope and expect you’re correct. But I’m buying my gas anywhere BUT Chevron!
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