Gas Prices Cancel The title field is required!

1. Peter Bowman

   

   11 posts
   
   3/23/2012 10:03 AM

   $101.36 for barely 23 gal of regular unlead this morning. $4.36/gal.

   
   
   
   
2. Dennis Cook

   

   1 posts
   
   3/23/2012 12:03 PM

   Larry Allan said: Speculators would not be driving the price up, because they know it would be detrimental.
   
   huh?

   
   
   Why would speculators drive the price of oil up if the supply was more than demand? They would be shooting themselves in the foot, because they would sell less oil. Remember demand goes down when price goes up as long as there is enough supply. The problem we face today is that because we dont produce enough of our own oil, the world market knows that we are going to buy it regardless of the price. Since our supply does not meet our demand, we are willing to pay more for it and the speculators know it. If our supply met our demand, speculators know we wouldnt pay the high price for it and the world markets would stabilize and work more like the traditional supply/demand curve that typically drives most markets.

   
   
   
   
3. Keith Lamb

   

   3 posts
   
   3/23/2012 1:03 PM

   Dennis Cook said:

   Larry Allan said: Speculators would not be driving the price up, because they know it would be detrimental.
   
   huh?

   
   
   Why would speculators drive the price of oil up if the supply was more than demand? They would be shooting themselves in the foot, because they would sell less oil. Remember demand goes down when price goes up as long as there is enough supply. The problem we face today is that because we dont produce enough of our own oil, the world market knows that we are going to buy it regardless of the price. Since our supply does not meet our demand, we are willing to pay more for it and the speculators know it. If our supply met our demand, speculators know we wouldnt pay the high price for it and the world markets would stabilize and work more like the traditional supply/demand curve that typically drives most markets.

   
   
   Stop drinking the kool-aid Dennis. The world oil market does not revolve solely around the US. We are drilling more oil now than during the Bush years (I would take the tremendous amount of spare time I have to look this up, but I have heard this statement several times reported lately) and US demand has been steadily declining the last few years. The US biggest export based on $ amount is refined oil products.

   
   
   
   
4. James Schmid

   

   1 posts
   
   3/23/2012 1:03 PM

   Dennis Cook said:

   Larry Allan said: Speculators would not be driving the price up, because they know it would be detrimental.
   
   huh?

   
   
   Why would speculators drive the price of oil up if the supply was more than demand? They would be shooting themselves in the foot, because they would sell less oil. Remember demand goes down when price goes up as long as there is enough supply. The problem we face today is that because we dont produce enough of our own oil, the world market knows that we are going to buy it regardless of the price. Since our supply does not meet our demand, we are willing to pay more for it and the speculators know it. If our supply met our demand, speculators know we wouldnt pay the high price for it and the world markets would stabilize and work more like the traditional supply/demand curve that typically drives most markets.

   
   
   
   Dennis - the world market does not "know" anything, we are not going to buy it regardless of the price, there is no oil anywhere on earth that is "ours", "we" don't drill for oil, private institutions (oil companies) do, and once "they" have the oil, they are free to do with it as they please (trade it on the world market). You are correct about one thing Increasing supply would most likely result in a decrease in price (who knows how much?) But it would take a lot and it would take a long time to get there.

   
   
   
   
5. Larry Allan

   

   0 posts
   
   3/23/2012 1:03 PM

   Google "abiotic oil" if you really want to confuse the issue

   
   
   
   
6. Stephen Okula

   

   3 posts
   
   3/23/2012 1:03 PM

   Speculation works both ways. Did you ever hear of selling short? Speculators also bet on prices to drop.

   
   
   
   
7. Steven Kurta

   

   2 posts
   
   3/23/2012 5:03 PM

   I listen to Rush almost everyday to keep abreast of extreme viewpoints. It amazes me, not really, how much some of the posts here sound so similar to what's being broadcast.
   I hope I'm mistaken, but I fear I'm not in assuming some posters are just parroting what they're hearing from their favorite media outlets.
   
   Chew on these for a bit and maybe give a second's worth of thought to an issue before you jump in and play Rush Limbaugh with everything. Read some history for Christ's sake. Turn off the news -- you're being sold to!
   
   [size=150">2008 [/size">
   [youtube">http://www.youtube.com/watch?v=UzEnKdBAb_o[/youtube">
   
   [size=150">2012[/size">
   [youtube">http://www.youtube.com/watch?v=ztc8UxvSSTo[/youtube">
   
   It's all BS this notion of the president of a country having any power to affect gas prices.
   And when you repeat BS you look like, and rightly so, a total idiot.

   
   
   
   
8. Wahlin Scott B

   
   3/23/2012 6:03 PM

   Steven Kurta said: I listen to Rush almost everyday to keep abreast of extreme viewpoints. It amazes me, not really, how much some of the posts here sound so similar to what's being broadcast.
   I hope I'm mistaken, but I fear I'm not in assuming some posters are just parroting what they're hearing from their favorite media outlets.
   
   Chew on these for a bit and maybe give a second's worth of thought to an issue before you jump in and play Rush Limbaugh with everything. Read some history for Christ's sake. Turn off the news -- you're being sold to!
   
   [size=150">2008 [/size">
   [youtube">http://www.youtube.com/watch?v=UzEnKdBAb_o[/youtube">
   
   [size=150">2012[/size">
   [youtube">http://www.youtube.com/watch?v=ztc8UxvSSTo[/youtube">
   
   It's all BS this notion of the president of a country having any power to affect gas prices.
   And when you repeat BS you look like, and rightly so, a total idiot.

   
   
   The righties on here are not going to watch your videos. They listen to Rush and Fox all day and think they are listening to Walter Cronkite. They are not going to be happy until the Koch Brothers have ALL the money!

   
   
   
   
9. Melvin Waldron

   

   43 posts
   
   3/23/2012 8:03 PM

   Nice post Steve, but to save yourself from listening to Rush, just watch Jon Stewart, he will play the same clips all the time.
   
   Mel

   
   Melvin H. Waldron III, CGCS, Horton Smith Golf Course, City of Springfield/Greene County MO
   
   
10. McCallum David K

    
    3/27/2012 6:03 AM

    From a Sunday fill up till this morning........same Exxon station......... .11 cent increase on the sign. At least the oil stocks in my 401k must be doing well.

    
    
    
    
11. Dennis Cook

    

    1 posts
    
    4/4/2012 6:04 AM

    Steve,
    
    When our president took office, the whole eastern and western seaboard was opened to drilling and also areas off Alaska. Remember the five year ban he put into affect. http://naturalresources.house.gov/News/ ... tID=267985
    
    Just look at the map and since you said I was, well, an idiot, maybe you can recant that statement and just see how assanine your statement is that a president has no affect on gas prices. Before obama $2/gal gas, after Obama, $4 gas following all these drilling bans. This man, or the democrat party for that matter, is not friendly to petroleum, period. If he had a war on golf courses and started banning them all over the places and we had less of them, the demand for golf at the facilities left would go up, therefore they could increase there price and still have a full golf course. Man, you lefties just need to brush up on your economics before you go spouting off that our pres has no affect on things.
    
    I keep giving you examples of things that back up my statements and you just keep saying, quit watching fox news and listening to Rush. I suppose you would tell all your friends to stop reading my posts as well, because you dont agree with them, I thought your side was the side with all the compansion and tolerance? The only tolerance you have is to cram your ideology down everyones throat and keep taking away freedoms from people. When we try to protect those freedoms all of a sudden we are called the extreme when in reality, the extreme viewpoint is yours.

    
    
    
    
12. Jon Gansen

    

    1 posts
    
    4/4/2012 7:04 AM

    Dennis Cook said: Steve,
    
    When our president took office, the whole eastern and western seaboard was opened to drilling and also areas off Alaska. Remember the five year ban he put into affect. http://naturalresources.house.gov/News/ ... tID=267985
    
    Just look at the map and since you said I was, well, an idiot, maybe you can recant that statement and just see how assanine your statement is that a president has no affect on gas prices. Before obama $2/gal gas, after Obama, $4 gas following all these drilling bans. This man, or the democrat party for that matter, is not friendly to petroleum, period. If he had a war on golf courses and started banning them all over the places and we had less of them, the demand for golf at the facilities left would go up, therefore they could increase there price and still have a full golf course. Man, you lefties just need to brush up on your economics before you go spouting off that our pres has no affect on things.
    
    I keep giving you examples of things that back up my statements and you just keep saying, quit watching fox news and listening to Rush. I suppose you would tell all your friends to stop reading my posts as well, because you dont agree with them, I thought your side was the side with all the compansion and tolerance? The only tolerance you have is to cram your ideology down everyones throat and keep taking away freedoms from people. When we try to protect those freedoms all of a sudden we are called the extreme when in reality, the extreme viewpoint is yours.

    
    
    
    Home Run!!!!!

    
    
    
    
13. Wahlin Scott B

    
    4/4/2012 7:04 AM

    We had four dollar per gallon gas for a while under Bush too.
    
    [img">http://i100.photobucket.com/albums/m22/wahlins/energygraph2.jpg[/img">

    
    
    
    
14. Robert Crockett

    

    4 posts
    
    4/4/2012 8:04 AM

    David McCallum said: I think that assumption is correct. But I did hear a reporter saying in the drive to work this am that Obama had a plan to stabilize gas prices. It is understandable because if they continue to rise.......$ 6/gallon in Alaska, the $ 5/gallon I mentioned in LA yesterday it will affect his ability to be re-elected. No idea what his plan is but I am all for hearing about it.

    
    Well.......Err body says he has nothing to do with the prices yay or nay....So if he can stabilize...I guess he can destabilize also?

    
    
    
    
15. McCallum David K

    
    4/4/2012 10:04 AM

    Glad some of you guys have time to listen to Rush and Hannity all day to keep us abreast of what the right is saying. Rush is on from 11-2:00 CST.......not radio time for me at work......Sean from 2-5:00 pm but listening to sports talk radio on my drive home, not Hannity. Keep us posted!

    
    
    
    
16. Dennis Cook

    

    1 posts
    
    4/4/2012 2:04 PM

    Scott Wahlin, CGCS said: We had four dollar per gallon gas for a while under Bush too.
    
    [img">http://i100.photobucket.com/albums/m22/wahlins/energygraph2.jpg[/img">

    
    
    Scott,
    
    If your chart is for production, then according to the lefts theory that it takes five years to make it impact production, then Im glad that president Bush pushed for increased production during his last five years in office, because it started to show up during Obama. Bushes last year in office was 2008, so i guess it will continue to go up until 2013. Sucks when someone throws your logic back in your face

    
    
    
    
17. James Schmid

    

    1 posts
    
    4/4/2012 2:04 PM

    Scott Wahlin, CGCS said: We had four dollar per gallon gas for a while under Bush too.
    
    [img">http://i100.photobucket.com/albums/m22/wahlins/energygraph2.jpg[/img">

    
    
    
    The scale on your graph is misleading, it's also difficult to make any good assumptions from this graph, given that there is only one year in the pre Obama timeframe.

    
    
    
    
18. James Schmid

    

    1 posts
    
    4/4/2012 2:04 PM

    Dennis Cook said: Steve,
    
    Before obama $2/gal gas, after Obama, $4 gas following all these drilling bans. This man, or the democrat party for that matter, is not friendly to petroleum, period.

    
    
    http://www.GasBuddy.com/gb_retail_price ... ?city1=USA Average&city2=&city3=&crude=y&tme=96&units=us
    
    If you look at this chart and select the 8 year timeframe, which graphically depicts average gas and crude oil prices over the last 8 years, you may be able to see how drawing the conclusion that Obama caused $4 gas as opposed to $2 gas may not be the best assumption. Gas was in fact above $4 per gallon before Obama took office. And if you look a little bit deeper, it would appear that gas prices have been increasing at a rate that is roughly linear, indicating that a change in administration has not had a profound impact on the rate of increase of gas prices.
    
    
    And then if you look at this chart you will see that world oil production has remained relatively stable since 2005.
    http://www.indexmundi.com/energy.aspx?p ... production
    
    
    I think, Dennis, what you are missing here is that oil that is produced in the United States will be sold on the world market for whatever the market price is, and will not likely have a great effect on the market price.
    
    There would be significant positive economic impacts due to the fact that we would be producing and exporting more.

    
    
    
    
19. Larry Allan

    

    0 posts
    
    4/4/2012 2:04 PM

    James Schmid said:

    Scott Wahlin, CGCS said: We had four dollar per gallon gas for a while under Bush too.
    
    [img">http://i100.photobucket.com/albums/m22/wahlins/energygraph2.jpg[/img">

    
    
    
    The scale on your graph is misleading, it's also difficult to make any good assumptions from this graph, given that there is only one year in the pre Obama timeframe.

    
    James, the scale is linear...in point 2 increments! The years are listed in one year intervals!
    I'm not a mathematician but....
    Would thin red bars instead of thick blue bars make it less misleading?

    
    
    
    
20. James Schmid

    

    1 posts
    
    4/4/2012 3:04 PM

    Larry Allan said:

    James Schmid said:

    Scott Wahlin, CGCS said: We had four dollar per gallon gas for a while under Bush too.
    
    [img">http://i100.photobucket.com/albums/m22/wahlins/energygraph2.jpg[/img">

    
    
    
    The scale on your graph is misleading, it's also difficult to make any good assumptions from this graph, given that there is only one year in the pre Obama timeframe.

    
    James, the scale is linear...in point 2 increments! The years are listed in one year intervals!
    I'm not a mathematician but....
    Would thin red bars instead of thick blue bars make it less misleading?

    
    
    No, But the fact that the second bar is nearly twice the size of the first bar makes it appear that perhaps the quantity indicated is twice as large, when in fact it represents an approximate increase of 8%. The visual representation does not come anywhere near the the data that the graph is supposed to represent. This graph has been constructed deliberately to make it look as if there was a much larger increase than the data support.

    
    
    
    
21. Larry Allan

    

    0 posts
    
    4/4/2012 3:04 PM

    Here is a good graph of production back to 1980.
    
    insert your Presidents and associated political rhetoric in the appropriate year

    
    
    
    
22. James Schmid

    

    1 posts
    
    4/4/2012 3:04 PM

    Larry Allan said: Here is a good graph of production back to 1980.
    
    insert your Presidents and associated political rhetoric in the appropriate year

    
    
    
    I'm not sure why you would assume that I would want to insert presidents or rhetoric, I'm just saying that the graphic is misleading.

    
    
    
    
23. Dennis Cook

    

    1 posts
    
    4/5/2012 5:04 AM

    James Schmid said:

    Dennis Cook said: Steve,
    
    Before obama $2/gal gas, after Obama, $4 gas following all these drilling bans. This man, or the democrat party for that matter, is not friendly to petroleum, period.

    
    
    http://www.GasBuddy.com/gb_retail_price ... ?city1=USA Average&city2=&city3=&crude=y&tme=96&units=us
    
    If you look at this chart and select the 8 year timeframe, which graphically depicts average gas and crude oil prices over the last 8 years, you may be able to see how drawing the conclusion that Obama caused $4 gas as opposed to $2 gas may not be the best assumption. Gas was in fact above $4 per gallon before Obama took office. And if you look a little bit deeper, it would appear that gas prices have been increasing at a rate that is roughly linear, indicating that a change in administration has not had a profound impact on the rate of increase of gas prices.
    
    
    And then if you look at this chart you will see that world oil production has remained relatively stable since 2005.
    http://www.indexmundi.com/energy.aspx?p ... production
    
    
    I think, Dennis, what you are missing here is that oil that is produced in the United States will be sold on the world market for whatever the market price is, and will not likely have a great effect on the market price.
    
    There would be significant positive economic impacts due to the fact that we would be producing and exporting more.

    
    
    I dont think im missing anything, if the majority of our oil comes from somewhere else and we are one of several countries that drive up world demand, if we could produce much or all of our own supply, the demand would be reduced for the rest of the oil around the around the world, because we are not buying it. That would increase the supply around the rest of the world by quite a large amount and would have a reduction effect on the world market prices. You cannot honestly say that if the US quit buying oil from abroad, prices would not come down. That is ludicris. Suddenly the competition between the US and China for the oil, would be gone, and the cost would come down.

    
    
    
    
24. Larry Allan

    

    0 posts
    
    4/5/2012 6:04 AM

    James Schmid said:

    Larry Allan said: Here is a good graph of production back to 1980.
    
    insert your Presidents and associated political rhetoric in the appropriate year

    
    
    
    I'm not sure why you would assume that I would want to insert presidents or rhetoric, I'm just saying that the graphic is misleading.

    
    Sorry James, that wasn't meant to be a shot at you personally. It just gets absurd when everyone has an opinion based on their party of preference. US oil production started to drop off in the 80's. Was that due to Regan and Bush? I don't know. Maybe the price of oil was low and it was more economical to import oil than produce it.
    There are so many interrelated factors in oil pricing that to blame any political party seems silly.
    The Oil Sands have an almost limitless supply of oil but when oil was at 5 bucks a barrel on the world market and production costs for the sands were 50 bucks a barrel, it isn't going to harvested

    
    
    
    
25. James Schmid

    

    1 posts
    
    4/5/2012 7:04 AM

    Dennis Cook said:

    James Schmid said:

    Dennis Cook said: Steve,
    
    Before obama $2/gal gas, after Obama, $4 gas following all these drilling bans. This man, or the democrat party for that matter, is not friendly to petroleum, period.

    
    
    http://www.GasBuddy.com/gb_retail_price ... ?city1=USA Average&city2=&city3=&crude=y&tme=96&units=us
    
    If you look at this chart and select the 8 year timeframe, which graphically depicts average gas and crude oil prices over the last 8 years, you may be able to see how drawing the conclusion that Obama caused $4 gas as opposed to $2 gas may not be the best assumption. Gas was in fact above $4 per gallon before Obama took office. And if you look a little bit deeper, it would appear that gas prices have been increasing at a rate that is roughly linear, indicating that a change in administration has not had a profound impact on the rate of increase of gas prices.
    
    
    And then if you look at this chart you will see that world oil production has remained relatively stable since 2005.
    http://www.indexmundi.com/energy.aspx?p ... production
    
    
    I think, Dennis, what you are missing here is that oil that is produced in the United States will be sold on the world market for whatever the market price is, and will not likely have a great effect on the market price.
    
    There would be significant positive economic impacts due to the fact that we would be producing and exporting more.

    
    
    I dont think im missing anything, if the majority of our oil comes from somewhere else and we are one of several countries that drive up world demand, if we could produce much or all of our own supply, the demand would be reduced for the rest of the oil around the around the world, because we are not buying it. That would increase the supply around the rest of the world by quite a large amount and would have a reduction effect on the world market prices. You cannot honestly say that if the US quit buying oil from abroad, prices would not come down. That is ludicris. Suddenly the competition between the US and China for the oil, would be gone, and the cost would come down.

    
    
    
    What you are missing is that the type of production increase you are talking about would take decades, blaming the current president, who has been in office for 3 years, for the price of gas today is silly.

    
    
    
    
26. Dennis Cook

    

    1 posts
    
    4/5/2012 7:04 AM

    James Schmid said:

    Dennis Cook said:

    James Schmid said:

    Dennis Cook said: Steve,
    
    Before obama $2/gal gas, after Obama, $4 gas following all these drilling bans. This man, or the democrat party for that matter, is not friendly to petroleum, period.

    
    
    http://www.GasBuddy.com/gb_retail_price ... ?city1=USA Average&city2=&city3=&crude=y&tme=96&units=us
    
    If you look at this chart and select the 8 year timeframe, which graphically depicts average gas and crude oil prices over the last 8 years, you may be able to see how drawing the conclusion that Obama caused $4 gas as opposed to $2 gas may not be the best assumption. Gas was in fact above $4 per gallon before Obama took office. And if you look a little bit deeper, it would appear that gas prices have been increasing at a rate that is roughly linear, indicating that a change in administration has not had a profound impact on the rate of increase of gas prices.
    
    
    And then if you look at this chart you will see that world oil production has remained relatively stable since 2005.
    http://www.indexmundi.com/energy.aspx?p ... production
    
    
    I think, Dennis, what you are missing here is that oil that is produced in the United States will be sold on the world market for whatever the market price is, and will not likely have a great effect on the market price.
    
    There would be significant positive economic impacts due to the fact that we would be producing and exporting more.

    
    
    I dont think im missing anything, if the majority of our oil comes from somewhere else and we are one of several countries that drive up world demand, if we could produce much or all of our own supply, the demand would be reduced for the rest of the oil around the around the world, because we are not buying it. That would increase the supply around the rest of the world by quite a large amount and would have a reduction effect on the world market prices. You cannot honestly say that if the US quit buying oil from abroad, prices would not come down. That is ludicris. Suddenly the competition between the US and China for the oil, would be gone, and the cost would come down.

    
    
    
    What you are missing is that the type of production increase you are talking about would take decades, blaming the current president, who has been in office for 3 years, for the price of gas today is silly.

    
    
    Well you can blame the president because he is the one who put the drilling bans in place and does nothing but demonize the oil industry. Speculators know that a five year drilling ban will put the US in a position where they are not going to be able to supply enough of their own oil for probably 15 years. This gives them the edge, they know we need it, they know we are competing with China for a lot of the resources, so they can afford to push prices up without to much effect on demand. They know they will sell it somewhere. Now if we had a president who lifted the bans and was making a huge push to make us independent over that ten year period that you are talking about, speculators know that they are going to sell a lot less oil after that ten year period because the US would not be buying from the so called world market. So they would be trying to sell as much as they could during that ten years and if they jack the prices way up, there not going to sell as much. If they continued to jack the prices up, they know we would make a push to get our stuff online quicker and reduce their impact in the equation.
    
    If Obama was not so anti-oil and made it a top priority to increase our resources here, while at the same time encouraging new R&D for alternatives, the world market prices for oil would drop. They would drop because they would still want to be involved in providing and selling oil to us. In reality, the US could still import a lot of oil, as long as they have the leverage with the world market to say, if you speculators want to increase cost, then we are just going to open our spigots a little furthur and make them irrelevant. As long as we have the means to produce our own oil, we have the leverage to help keep costs down. It doesnt mean we need to produce it, it just means that we can if the world markets get out of hand.

    
    
    
    
27. McCallum David K

    
    4/5/2012 8:04 AM

    Last year they were predicting $4 gas by Memorial Day and the same again this year ( some places it probably is already but dealign with the national avg) but crude made a pretty good drop in the last day or so. If and that is a BIG IF, nothing goes crazy in regards to Iran and Israel I think we will see a drop in the near future. Speculation based on nothing but fear will not sustain itself over the long haul. Supply and demand will evenutally work again. Supply is there....no shortages and the demand keeps dropping with less driving and higher mileage vehicles. That's my totally uneducated hunch and I'm sticking with it.

    
    
    
    
28. Steve Nelson

    

    0 posts
    
    10/5/2012 10:10 AM

    Holy smokes. Stopped at one of my regular stations on the way home yesterday and started filling up without even checking the price. While standing there I noticed it was $4.79/ gallon. I about wretched. All the other stations on the way home were way up also. I think I paid $4.13 a week or so ago. Oil is $90 a barrel. WTH?

    
    
    
    
29. Wahlin Scott B

    
    10/5/2012 11:10 AM

    We are at $3.75 here. Why would yours be a dollar more?

    
    
    
    
30. Jason Baker

    

    12 posts
    
    10/5/2012 11:10 AM

    We are at 3.34 here and it has gone down the last week rather than up. ?