
pittsoccer33 wrote:we were talking generally about obamas relection chances, and i said a month or so ago that gas prices and the stock market come next fall could be two things that really hurt him.
mac5155 wrote:I get that gas is a "global commodity" and that we shouldn't isolate ourselves but isn't there a way to cut our exports of it and "keep it" for a cheaper price?
Froggy wrote:mac5155 wrote:I get that gas is a "global commodity" and that we shouldn't isolate ourselves but isn't there a way to cut our exports of it and "keep it" for a cheaper price?
It only seems to be a "global commodity" for us. There are several middle eastern billionaires that scoff at that notion. Why should we be held to a different standard?
Digitalgypsy66 wrote:Also: why do we need three grades of unleaded gas? Keep 87 and 93 (Sid and Nedved) and ditch the mid grade. I've seen pumps with four grades of gas (not ethanol either, it was like 87, 89, 91, 93).
pittsoccer33 wrote:we were talking generally about obamas relection chances, and i said a month or so ago that gas prices and the stock market come next fall could be two things that really hurt him.
Jopaz wrote:pittsoccer33 wrote:we were talking generally about obamas relection chances, and i said a month or so ago that gas prices and the stock market come next fall could be two things that really hurt him.
Obama 2008: High gas prices are Bush's fault
Obama 2012: There's not much the government can do to control prices
Actually, the 2012 version is more correct, but it does not make a good campaign slogan.
slappybrown wrote:Pavel Bure wrote:roland wrote:Gasoline: The new big U.S. exportThe United States is awash in gasoline. So much so, in fact, that the country is exporting a record amount of it.
The country exported 430,000 more barrels of gasoline a day than it imported in September, according to the U.S. Energy Information Administration. That is about twice the amount at the start of the year, and experts and industry insiders say the trend is here to stay.
http://money.cnn.com/2011/12/05/news/ec ... /index.htm
So supply exceeds demand yet prices are at record highs? Outstanding!
There aren't enough refineries to get the gas to the public and they won't build more. Current refineries are operating at something like 110% of capacity.
Le wat?But now the country's massive refining infrastructure is producing more gasoline, diesel and jet fuel than the United States needs, freeing it up to be exported to places like Brazil, Mexico and Chile where demand is still strong.
The Wall Street Journal, which reported on the export trend last week, said the United States is on track this year to be a net exporter of refined products for the first time in 62 years.
"We've got plenty of excess refining capacity," said Jonathan Cogan, a spokesman for EIA. "It's a reminder that this is a global oil market, and it's reflected by the movements of products to where they will get the highest prices."
From the article in the very posts you're quoting.
Jopaz wrote:
Obama 2008: High gas prices are Bush's fault
Obama 2012: There's not much the government can do to control prices
Actually, the 2012 version is more correct, but it does not make a good campaign slogan.
Saudi Arabia will act to lower soaring oil prices
"So what can Saudi Arabia actually do?
We want to correct the myth that there is, or could be, a shortage. It is an irrational fear, a fear without basis. Saudi Arabia’s current capacity is 12.5m barrels per day, way beyond current levels demanded, and a reliable buffer against any temporary loss of production. Saudi Arabia has invested a great deal to sustain its capacity, and it will use spare production capacity to supply the oil market with any additional required volumes.
This is not empty rhetoric. We have proved to be a reliable supplier many times in the past. We increased production following the invasion of Iraq. We increased production following a workers’ strike in Venezuela in 2002. We stepped in following a surge in demand from emerging economies, specifically China, in 2004. We increased supplies to the US in the wake of Hurricane Katrina. And when a popular uprising swept through Libya in early 2011, we stepped up production to offset any losses.
We have done it many times before, we will do it again.
For the record, as things stand today, our inventories in Saudi Arabia and around the world are full. Our Rotterdam inventory is full, our Sidi Kerir facility is full, our Okinawa facility is full – 100 per cent full."
Please share this article with others using the link below, http://www.ft.com/cms/s/0/9e1ccb48-781c ... z1qSnU7q8l
Hockeynut! wrote:3.99 in good old Somerset.
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