Purpdust

globeandmail.com: Oil executives defend high profits

This is absolute horse crap, why does the US Goverment keep blaming other for a situation that they have created.

Blame OPEC, Blame Oil Companies, next will be Sue Share Holders because they are demanding Profits. Where does it stop?

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luvtolean

Note the party symbol after the people quoted, and also note it is a few among many. The US government as a whole gives the oil industry HUGE tax breaks, especially on "exploration" (my company does not get to write off our R&D in a similar way). Too big of breaks IMO, but I'm not in to punitive taxes as a rule either.

Funny enough, this same party (along with some republicans) has a faction looking to give the oil industry a monumental windfall by reducing our gas tax.

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ccwilli3

i heard regulation mentioned the other day but I couldn't identify the speaker, I assumed it was a dem.

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ND4SPD

Gas roars higher, pressuring holiday travelers - Yahoo! News

The tech bubble burst, so did the housing bubble. Something else has to take its place. What's next?

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luvtolean

Yikes...I just saw diesel at $5.149. Didn't even hit resistance at five bucks apparently.

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The facility and excess of law-making seem to be the diseases to which are governments are most liable.- James Madison

SheepOfBlue

or did it? As stated above demand has slowed or shrunk. Also I heard a AAA prediction of fewer people traveling for Memorial Day than last year. There will certainly be a lag between when the demand has declined enough and when the bubble bursts. The biggest modifier in my non-expert opinion will be IF we really have a recession (versus the current slowdown) using government calculations. Of course the government calculations are a bit dodgy on inflation calculations and have been for a while.

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luvtolean

By resistance I mean diesel hanging at 4.999 for a week or two. This happened for quite a while at 3.999.

Last week the same station was 4.899, I haven't even seen it priced at 4.999.

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The facility and excess of law-making seem to be the diseases to which are governments are most liable.- James Madison

luvtolean

Interesting:

March driving down for 1st time since 1979: government - Yahoo! News

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The facility and excess of law-making seem to be the diseases to which are governments are most liable.- James Madison

ONEvcs

I find some coworkers waiting for gas prices to go down.
I don't think prices are going to go back down, significantly, anytime soon.
In a few years, when other sources of energy lower the demand for gasoline, then perhaps.

seamus

or ever.

it's going to take an extremely widespread, affordable, reliable "other source" to decrease demand worldwide to allow prices to drop much.

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luvtolean

Ever?

Come on guys...

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The facility and excess of law-making seem to be the diseases to which are governments are most liable.- James Madison

ND4SPD

It'll start to come back down by July. These prices aren't sustainable.

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seamus

Sorry, I meant to the level it was at at the turn of the century ($1.20-$1.50/gal).

If it does go back down, I give it a floor of about $2-$2.50/gal.

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Ducit Amor Patriae

Richard Herald, The Gentle Giant

The nation that makes a great distinction between its scholars and its warriors will have its thinking done by cowards and its fighting done by fools.
--- Thucydides

ONEvcs

I'm an optimist. I think they'll figure out a way to have several sources to choose from in a few years.

Hammer

$90 to fill up my truck today after work.

Fuck Opec, Fuck Bush, Fuck all of em......I hope they all choke to death on my money.

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JohnnyDiablo

Dood! Your gas station takes checks! I have lots of those.

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"I wont have to worry about putting gas in my car, I won't have to worry about paying my mortgage.. You know, If I help him, he's gonna help me."

Hammer

Not for long, they have almost wallpapered the store with the bad ones.

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SOME PEOPLE ARE LIKE SLINKIES. NOT REALLY GOOD FOR ANYTHING BUT THEY BRING A SMILE TO YOUR FACE WHEN PUSHED DOWN THE STAIRS

maxib

I think Hammer has summed it up quite well.

Today's pump pricing antics remind me of the oil embargo 30 something years ago when prices were going up daily. One difference though compared to then, I don't see any lines now, or hand printed signs at the local gas station stating "OUT OF GAS" as we did then because we have the fuel, it just costs more by the minute.

When will it stop? My prediction is never.

SheepOfBlue

Wait until Barack Carter Obama gets in then you can see $150 a tank and rationing. All while you get 15% interest and inflation with 10% unemployment

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ONEvcs

I think you have him confused with Exxon Bush.

SheepOfBlue

Nope just old enough to remember the joy of the Carter years and seeing pretty much ALL of the conditions that created the party coming into place again.

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Hammer

SOB, It is really a sad time in this country that the current presidential candidates we have to pick from all SUCK. But if Obama gets elected, I doubt that he will not make a full term in office before some redneck will take a well placed pop shit at him. Actually i am surprised that no one has tried at Jr. yet.

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SOME PEOPLE ARE LIKE SLINKIES. NOT REALLY GOOD FOR ANYTHING BUT THEY BRING A SMILE TO YOUR FACE WHEN PUSHED DOWN THE STAIRS

phobe

Cost me 160 Canadian Dollars to fill the molester van today... That's like, 165 Dollars.

You would not believe the amount of Rams, Grand Cherokees, Durangos, Trailblazers, Exploders, etc I see people trying to trade in for smaller cars lately... and of course they're all 10-20 grand upside-down.

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SheepOfBlue

Actually I am waiting to see who the Libertarians put up as I see this as 3 socialist Democrats right now. Then there is the Ovine party which has already had several assassination threats (one from the nominated VP).

I think we are screwed on president no matter which of the big three get in, just a question of how hard. The only thing that could stop it would be a swing back to R in the house or senate but I give that zero chance.

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Hammer

Price gouging at it's best.
Price of gas by the interstate $4.17.

Just 3 miles down the road it was $3.99

__________________
SOME PEOPLE ARE LIKE SLINKIES. NOT REALLY GOOD FOR ANYTHING BUT THEY BRING A SMILE TO YOUR FACE WHEN PUSHED DOWN THE STAIRS

SheepOfBlue

Let me guess: Cloverdale?

I NEVER get gas there as it is always a bunch extra, even over the Indiana ripping.

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A man who carries a cat by the tail learns something he can learn in no other way