$70 Oil Business Plan

[700UW]

Gas in my town has gone up 40 cents a gallon this afternoon and it has hit $6 a gallon in Atlanta, the economy will go into a recession if this keeps up.

 

[laxtwin]

Yeah the OPEC countries are screwing us. But the US based oil companies are too. Inspite of record profits. Instead of bashing US citizens that don't agree with the current administration's actions, how about going after our fellow citizens that run the oil companies?

Yeah yeah I know. They are in business to make a profit. Blech.

 

[700UW]

Bring back the Windfall Profits Tax!

 

[USA320Pilot]

States probe high gas prices, eye tax cuts

CHICAGO (Reuters) - U.S. states, reeling from skyrocketing gasoline prices in the wake of Hurricane Katrina, have launched probes into alleged profiteering and are mulling temporary relief for drivers by suspending taxes.

Complete Story

EU Nations to Offer Oil From Reserves

NEWPORT, Wales (AP) - European nations are offering to provide oil to the
United States from their strategic reserves to offset shortages in the
aftermath of Hurricane Katrina, an EU official said Friday.

Complete Story

USA320Pilot comments: Today NYMEX Crude Oil Futures trading on the banks of the Hudson River closed down $1.90 to $67.57 per barrel.

See Story

Regards,

USA320Pilot

 

[JS]

Cutting the gas tax? Unbelievable. 🙄

The tax cut will flow straight through to the oil companies' bottom line. The price charged is the market rate, and the market (drivers) don't care how much is tax and how much is wholesale. It's only the total that makes the difference between buying it and putting off a trip. $3.20 a gallon is $3.20 a gallon!

 

[markkus757]

Maybe this a chance for someone to build a new refinery in this country instead of in an OPEC country where we can control it for once. All of the oil companies could probably get permission to build a new one in the next 12 months, especially if gas stays above $3.00 a gallon. Who would listen to the environmentalists or the NIMBYS that long?

 

[USA320Pilot]

MSNBS reported tonight that 50% of the oil refining capacity lost due to Hurricane Katrina has already been restored.

Regards,

USA320Pilot

 

[robbedagain]

just this week, fuel in my town went from $2.42 a gallaon to $3.20 a gallon. but in one alone in one day, it jumped from 2.56 to 3.01 . it is pathetic.

 

[SpinDoc]

Maybe this a chance for someone to build a new refinery in this country instead of in an OPEC country where we can control it for once. All of the oil companies could probably get permission to build a new one in the next 12 months, especially if gas stays above $3.00 a gallon. Who would listen to the environmentalists or the NIMBYS that long?

[post="295997"][/post]​

SpinDoc Replies:

What, are you nuts? The oil companies don't
WANT to build any more refineries. They
like things the way they are, with demand
constantly rising and supply pushing the
upper limits of refining capacity. That is how
they are able to keep prices artificially
high and rake in egregious profits.
Why they don't increase their production,
lower the prices, and sell more, I'll never
understand.

Greed is going to kill us all some day.

 

[USA320Pilot]

SpinDoc:

Your comments are dead-on accurate again.

Regards,

USA320Pilot

 

[High Iron]

SpinDoc spake:

Why they don't increase their production,
lower the prices, and sell more, I'll never
understand.

Wonder if USAirways ever thought of that same theory when it came to business fare rationization? 🙄

 

[SpinDoc]

SpinDoc spake:

Why they don't increase their production,
lower the prices, and sell more, I'll never
understand.

Wonder if USAirways ever thought of that same theory when it came to business fare rationization? 🙄

[post="296152"][/post]​

Increasing production to meet demand
keeps demand and profits growing over time.

Southwest gets it. That is why they are growing
like crazy. WalMart gets it. That's why they are
the largest and most profitable retailer in the
WORLD.

The oil companies will NEVER get it. Greed
is getting in the way. The U.S. Energy
department statistics show that the U.S.
oil industry imported 300,00 bbl more oil
per day in August 2005 versus 2004, yet
they refined 300,000 bbl LESS per day than
last year. That equates to a 600,000 bbl per
day swing, and "artificial" shortfall in supply,
and is one of the ways they are keeping prices
on the rise. Maybe it's time for the justice
department to delve into the numbers and
look for collusion and price fixing.

 

[700UW]

Can you not understand there is no capacity left in the current refineries to produce more gas?

 

[dc3fanatic]

Increasing production to meet demand
keeps demand and profits growing over time.

Southwest gets it. That is why they are growing
like crazy. WalMart gets it. That's why they are
the largest and most profitable retailer in the
WORLD.

The oil companies will NEVER get it. Greed
is getting in the way. The U.S. Energy
department statistics show that the U.S.
oil industry imported 300,00 bbl more oil
per day in August 2005 versus 2004, yet
they refined 300,000 bbl LESS per day than
last year. That equates to a 600,000 bbl per
day swing, and "artificial" shortfall in supply,
and is one of the ways they are keeping prices
on the rise. Maybe it's time for the justice
department to delve into the numbers and
look for collusion and price fixing.

[post="296283"][/post]​

Consipracy theories everywhere! 'The Man' is everywhere and he is plotting against the rest of the world just because he can. (That was sarcasm)

 

[SpinDoc]

Can you not understand there is no capacity left in the current refineries to produce more gas?

[post="296285"][/post]​

While that is most likely true, there is a
simple answer to the production problems
that are occurring. Build more refineries.
Oil companies don't want to do that,
because it will reduce their ability to
keep prices artificially high, but it needs
to be done.