YSR_Racer_99 Posted June 22, 2012 Report Share Posted June 22, 2012 I heard on the radio this morning that the barrel price is about $86/ bbl. Seemed to me that the last time it was there, the gasoline prices were quite a bit lower. Seems that gas should be much closer to $2/ gallon. (Link and image are the same). http://cache.jalopnik.com/assets/images/12/2009/02/Price_of_a_Barrel_of_Oil_Versus_Gasoline.jpg Quote Link to comment Share on other sites More sharing options...
Bad324 Posted June 22, 2012 Report Share Posted June 22, 2012 there are a ton more variables than just the price of a barrel. The biggest one is the cost to refine which is more than likely the cause of higher prices Quote Link to comment Share on other sites More sharing options...
magley64 Posted June 22, 2012 Report Share Posted June 22, 2012 that's elasticity of the supply/demand curve... they keep the prices higher, they make more profit, even if demand drops off... Quote Link to comment Share on other sites More sharing options...
QuikAccord Posted June 22, 2012 Report Share Posted June 22, 2012 Just a bunch of greedy bastards...... Quote Link to comment Share on other sites More sharing options...
Kritz Posted June 22, 2012 Report Share Posted June 22, 2012 Just a bunch of greedy bastards......This gets my vote. Quote Link to comment Share on other sites More sharing options...
r1crusher Posted June 22, 2012 Report Share Posted June 22, 2012 You're all wrong.It's about greed. Oil and gas companies can all still make a very good profit if they appropriately lowered pricing to match accordingly. But they won't because we don't have any choice other than to pay. Quote Link to comment Share on other sites More sharing options...
magley64 Posted June 22, 2012 Report Share Posted June 22, 2012 greed IS capitolism, you invest your capitol and squeeze as much profit as you can out of it... periodcan't blame companies for being greedy when that is what drives our economy, plain and simple... if you want an economy NOT based on corporate greed, that's communism, and that is corrupted by elected greed (something we have enough of already) 1 Quote Link to comment Share on other sites More sharing options...
Bad324 Posted June 22, 2012 Report Share Posted June 22, 2012 the way the public is fed "profit margins" of oil companies and producers makes me laugh because they are grossly overstated Quote Link to comment Share on other sites More sharing options...
r1crusher Posted June 22, 2012 Report Share Posted June 22, 2012 greed IS capitolism, you invest your capitol and squeeze as much profit as you can out of it... periodcan't blame companies for being greedy when that is what drives our economy, plain and simple... if you want an economy NOT based on corporate greed, that's communism, and that is corrupted by elected greed (something we have enough of already)I had a reply, but thought better to just type this. Quote Link to comment Share on other sites More sharing options...
magley64 Posted June 22, 2012 Report Share Posted June 22, 2012 so if you had the choice to make double what you make now for doing the same work, you wouldn't take it?it's business... Quote Link to comment Share on other sites More sharing options...
donkason Posted June 22, 2012 Report Share Posted June 22, 2012 greed IS capitolism, you invest your capitol and squeeze as much profit as you can out of it... periodcan't blame companies for being greedy when that is what drives our economy, plain and simple... if you want an economy NOT based on corporate greed, that's communism, and that is corrupted by elected greed (something we have enough of already)Yeah, basically what he said as well as a lack of refining capacity in the US. Oil prices are correlated, but not directly related to gas prices as gas is a product of raw oil. Between that and speculation of oil supply and demand in a future a contract we will continue to see this disconnect.Example, speculators think China will boom and prices jump on 6 month futures contract. We pay today for what we think will happen later. China doesn't boom and supply is ample. Windfall profits are had due to the discrepancy.So don't worry and ride the bike everywhere at 40mpg:DSent from my SCH-I510 using Tapatalk 2 1 Quote Link to comment Share on other sites More sharing options...
Bad324 Posted June 22, 2012 Report Share Posted June 22, 2012 Yeah, basically what he said as well as a lack of refining capacity in the US. Oil prices are correlated, but not directly related to gas prices as gas is a product of raw oil. Between that and speculation of oil supply and demand in a future a contract we will continue to see this disconnect.Example, speculators think China will boom and prices jump on 6 month futures contract. We pay today for what we think will happen later. China doesn't boom and supply is ample. Windfall profits are had due to the discrepancy.So don't worry and ride the bike everywhere at 40mpg:DSent from my SCH-I510 using Tapatalk 2wow finally someone with some sense! +rep to that Quote Link to comment Share on other sites More sharing options...
ScubaCinci Posted June 22, 2012 Report Share Posted June 22, 2012 It'd be nice if there were a graph that was a little more up to date Quote Link to comment Share on other sites More sharing options...
YSR_Racer_99 Posted June 22, 2012 Author Report Share Posted June 22, 2012 It'd be nice if there were a graph that was a little more up to dateI didn't spend a lot of time on it, but I think that graph here is illustrative as inflation was inherent in the price/ bbl. It doesn't matter, cuz we've illustrated that we'll pay whatever they charge. I do think that tighter (and more numerous) regulations and the aforementioned lack of refining capacity (despite more vehicles on the road) are key issues. Lower prices = higher demand which the refineries can't keep up with. No matter how much crude they have coming in the front door, they are at capacity. The amount I pay monthly for fuel makes me nauseous. No, I'm not buying a Prius. 1 Quote Link to comment Share on other sites More sharing options...
TheBrown57 Posted June 22, 2012 Report Share Posted June 22, 2012 I didn't spend a lot of time on it, but I think that graph here is illustrative as inflation was inherent in the price/ bbl. It doesn't matter, cuz we've illustrated that we'll pay whatever they charge. I do think that tighter (and more numerous) regulations and the aforementioned lack of refining capacity (despite more vehicles on the road) are key issues. Lower prices = higher demand which the refineries can't keep up with. No matter how much crude they have coming in the front door, they are at capacity. The amount I pay monthly for fuel makes me nauseous. No, I'm not buying a Prius.:plus1: Quote Link to comment Share on other sites More sharing options...
magley64 Posted June 22, 2012 Report Share Posted June 22, 2012 Volt is better than prius, doesn't use any fuel at all if you drive it right. Quote Link to comment Share on other sites More sharing options...
Kritz Posted June 22, 2012 Report Share Posted June 22, 2012 I guess I shouldn't have raced that turbo S2000 this morning. Time for some hypermilling.. Quote Link to comment Share on other sites More sharing options...
gen3flygirl Posted June 22, 2012 Report Share Posted June 22, 2012 Stop buying petroleum based anal lube and the price won't go up End thread/ Quote Link to comment Share on other sites More sharing options...
Kritz Posted June 22, 2012 Report Share Posted June 22, 2012 Stop buying petroleum based anal lube and the price won't go up End thread/It ain't supposed to go in dat spot. Quote Link to comment Share on other sites More sharing options...
blue03636 Posted June 22, 2012 Report Share Posted June 22, 2012 It ain't supposed to go in dat spot.Says who? Quote Link to comment Share on other sites More sharing options...
Kritz Posted June 22, 2012 Report Share Posted June 22, 2012 God said " no mo of dat" Quote Link to comment Share on other sites More sharing options...
ScubaCinci Posted June 22, 2012 Report Share Posted June 22, 2012 I didn't spend a lot of time on it, but I think that graph here is illustrative as inflation was inherent in the price/ bbl. Right but the price per barrel and gallon seemed to be relatively commensurate for a long period of time up until the last part of the graph. I'm curious to see how the last few years compared although I strongly suspect the two graph line are close and or cross quite a bit.The sad part is, it doesn't seem to be driving much behavioral change. People are still tripping over themselves to but SUV's and poor MPG vehicles. As such, the oil companies have no incentive to do anything but keep prices high. Record profits look good to shareholders. Quote Link to comment Share on other sites More sharing options...
Bad324 Posted June 22, 2012 Report Share Posted June 22, 2012 I didn't spend a lot of time on it, but I think that graph here is illustrative as inflation was inherent in the price/ bbl. It doesn't matter, cuz we've illustrated that we'll pay whatever they charge. I do think that tighter (and more numerous) regulations and the aforementioned lack of refining capacity (despite more vehicles on the road) are key issues. Lower prices = higher demand which the refineries can't keep up with. No matter how much crude they have coming in the front door, they are at capacityLULZ...tighter and more numerous regulations are the reason the prices go UP, not downThe amount I pay monthly for fuel makes me nauseous. No, I'm not buying a Prius.well that is your choice and something you have to live with then Quote Link to comment Share on other sites More sharing options...
YSR_Racer_99 Posted June 22, 2012 Author Report Share Posted June 22, 2012 Volt is better than prius, doesn't use any fuel at all if you drive it right.I won't support GM nor Chrysler/ et al, either. Quote Link to comment Share on other sites More sharing options...
YSR_Racer_99 Posted June 22, 2012 Author Report Share Posted June 22, 2012 Don't act like you don't have a choice. If you don't like the price of gas' date=' then stop buying it. Obviously, the market will support the cost of fuel where it is. If it didn't, you'd ride your bicycle...instead of your 20mpg SUV.[/quote']We always have a "choice", but that doesn't mean we have a practical choice. I could "choose" to live under a bridge. And ride a bicycle. And live in Miami. And take bath salts and eat peoples' faces. My work requires a lot of driving. I cover 3400 sq miles of SW Ohio for work. I make "choices" to minimize my trips and driving. My fuel "bill" irks me in that I could be saving that money for retirement, or using it to pay for a big ass SUV or something that I WANT instead of... fuel. Which I need in order to work. Which I need in order to pay for... fuel. I'm saying that I miss the $1.89/ gallon of a few years ago. Quote Link to comment Share on other sites More sharing options...
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