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Author: Subject: Fuel Prices!

Peach Pro





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  posted on 6/9/2008 at 12:50 PM
Can someone please tell me why fuel has gone up a whopping $2.50 per gallon in my state in the last 2 years? First, the American government blames China and India for their usage. Then, Bush blames congress for the drilling issue. The oil companies are posting billions in profits yet they are saying it's not their fault and are allowed to get away with it unscathed. WTF is going on here? Have we drained the world's oil supplies so fast in two years that this has driven up the price to it's current status? I don't believe it. Is our current president in bed with the arab nations and they are all getting fat off American dollars? Hell yes!

Iraq's proven oil reserves are 113 billion barrels, the second largest in the world after Saudi Arabia, and eleven percent of the world's total. The total reserves could be 200 million barrels or more, all of it relatively easy and cheap to extract. Thus increasing Iraqi oil production will diminish the market pressure on oil-importing countries like the US. It will also weaken the power of OPEC to influence oil markets by decisions to restrict output. Indeed, were Iraqi oil production to expand to near its capacity, the quotas established by OPEC would cease to be honored in today's market. <7>

But the US is not just interested in oil from Iraq, it is concerned to maintain political dominance over all the oil-producing countries of the region. Secretary of State Colin Powell gave a glimpse of US intentions when he told the Senate Foreign Relations Committee on February 6 that success in the Iraq war "could fundamentally reshape that region in a powerful, positive way that will enhance U.S. interests." In conceding that it will be necessary to station US troops in occupied Iraq for the foreseeable future, the US is serving notice to Iran and to Saudi Arabia (both of which were once secure bases for US troops but are so no longer) that the US will reassert its presence as the dominant military power in the region.

full story here:
http://ingush.berkeley.edu/~pdscott/iraq.html

 
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Zen Peach



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  posted on 6/9/2008 at 12:58 PM
I wonder if the real real bad guys are behind driving the price up just the way they did airline stock for a few companies pre-911.
I guess if Arkansas is invaded the price of chickens are gonna go up.


[Edited on 6/9/2008 by Haisija]

 

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Peach Pro



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  posted on 6/9/2008 at 01:09 PM
Check this out as well.....crooks....every last one of em'!

http://www.counterpunch.org/cockburn01142004.html

 

Zen Peach



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  posted on 6/9/2008 at 01:13 PM
Oil is also an extremely volitile commodity traded on the futures market, a hotbed of emotion and usually lacking in reason, with its participants all having an unquenchable thrist for profit.
 

Zen Peach



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  posted on 6/9/2008 at 01:16 PM
quote:
Check this out as well.....crooks....every last one of em'!

http://www.counterpunch.org/cockburn01142004.html


Just like Condi said, " The prize is oil."

 

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If we practice and eye for an eye and a tooth for a tooth, soon the whole world will be blind and toothless. -Mahatma Gandhi.

 

Maximum Peach



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  posted on 6/9/2008 at 01:18 PM
quote:
Someone please explain this to me.
The way I see it there is only 200 and some odd days left 'till the door closes on being able to make gazillions of $,instead of only millions of $.
Sorry. 200 and some EVEN days left.

[Edited on 6/9/2008 by fanfrom-71]

 

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Peach Master



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  posted on 6/9/2008 at 01:24 PM
part of the problem is the the price of oil world wide is based on the us dollar. with the us dollar being so bad right now it has caused the oil prices to go up in return.

this is just a portion of the problem but a significant one

 

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Zen Peach



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  posted on 6/9/2008 at 01:45 PM
Gas prices are killing me. I drive 45 miles round trip 5 days a week (sometimes more). I had enough and finally started riding the bus. I drive about 6 miles to the "Park and Ride" and take the express downtown where I hop another bus for the final part of the trip. I do the reverse coming home. Back in the day, the bus sucked. It was slow, took hours to get from point A to B. Now, its pretty damn fast and convenient. The only downside is that I add about an extra 30min to my commute, total each day. The plus side is that Im saving anywhere from 350-400+ a month in gas. Its like getting a pay raise. On top of all that, I dont have the stress from driving to and from work. We have some of the worst drivers Ive ever seen here...as evidenced by this morning when some stupid woman pulled out in front of me and we had an accident. Thankfully nobody was hurt but my heart is broken to see my pretty truck cracked up. Ironically I thought it was another great advantage to public transportation was minimizing risks of accidents and tickets. Ha!

 

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Maximum Peach



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  posted on 6/9/2008 at 01:50 PM
quote:
We have some of the worst drivers Ive ever seen here
You live in Florida too?!
Sorry to hear about your truck.

 

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Well 30 years of heart and soul,lord we took it further than rock and roll.
We stood together thru thick and thin,yeah we made the best of it all back then.
Then I guess time took it's toll,cut me deep,cut me cold.
Brother against brother....

 

Universal Peach



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  posted on 6/9/2008 at 02:06 PM
quote:
Gas prices are killing me. I drive 45 miles round trip 5 days a week (sometimes more). I had enough and finally started riding the bus. I drive about 6 miles to the "Park and Ride" and take the express downtown where I hop another bus for the final part of the trip. I do the reverse coming home. Back in the day, the bus sucked. It was slow, took hours to get from point A to B. Now, its pretty damn fast and convenient. The only downside is that I add about an extra 30min to my commute, total each day. The plus side is that Im saving anywhere from 350-400+ a month in gas. Its like getting a pay raise. On top of all that, I dont have the stress from driving to and from work. We have some of the worst drivers Ive ever seen here...as evidenced by this morning when some stupid woman pulled out in front of me and we had an accident. Thankfully nobody was hurt but my heart is broken to see my pretty truck cracked up. Ironically I thought it was another great advantage to public transportation was minimizing risks of accidents and tickets. Ha!


Sorry to hear Squatch....Glad no one was hurt. Look at the bright side, now you can save even more money by buying a fuel efficient car with that insurance check (if it's totaled).

 

Zen Peach



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  posted on 6/9/2008 at 02:28 PM
Gasoline prices keep going higher because demand is going up while supply remains flat.

This is because the Big Oil Companies have conspired to keep the supply flat by
not building any more refining capacity, while forcing smaller independent refineries out of business.

And the Democrats and Republicans refuse to enforce the anti trust laws that are supposed to
keep big business from anticompetitive practices.

This is because Big Oil keeps both parties in their pocket with PAC monies.

that is the reason gasoline is so high.

 

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Peach Master



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  posted on 6/9/2008 at 02:30 PM
quote:
quote:
We have some of the worst drivers Ive ever seen here
You live in Florida too?!
Sorry to hear about your truck.


i used to live in FL and agree the drivers there are the worst. i once read an editorial about how one guy hated the FL drives so much he moved to indy (or somewhere). then one day he was driving up there and was cut off by a driver with FL tags. he was so mad about how he moved to avoid these guys and they are following him

 

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Zen Peach



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  posted on 6/9/2008 at 02:36 PM
quote:
Gasoline prices keep going higher because demand is going up while supply remains flat.

This is because the Big Oil Companies have conspired to keep the supply flat by
not building any more refining capacity, while forcing smaller independent refineries out of business.

And the Democrats and Republicans refuse to enforce the anti trust laws that are supposed to
keep big business from anticompetitive practices.

This is because Big Oil keeps both parties in their pocket with PAC monies.

that is the reason gasoline is so high.


If this ain't the truth, it SOUNDS like the truth.

Effin' politicians....effin' oil company executives.

 

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Zen Peach



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  posted on 6/9/2008 at 02:39 PM
quote:
quote:
Gas prices are killing me. I drive 45 miles round trip 5 days a week (sometimes more). I had enough and finally started riding the bus. I drive about 6 miles to the "Park and Ride" and take the express downtown where I hop another bus for the final part of the trip. I do the reverse coming home. Back in the day, the bus sucked. It was slow, took hours to get from point A to B. Now, its pretty damn fast and convenient. The only downside is that I add about an extra 30min to my commute, total each day. The plus side is that Im saving anywhere from 350-400+ a month in gas. Its like getting a pay raise. On top of all that, I dont have the stress from driving to and from work. We have some of the worst drivers Ive ever seen here...as evidenced by this morning when some stupid woman pulled out in front of me and we had an accident. Thankfully nobody was hurt but my heart is broken to see my pretty truck cracked up. Ironically I thought it was another great advantage to public transportation was minimizing risks of accidents and tickets. Ha!


Sorry to hear Squatch....Glad no one was hurt. Look at the bright side, now you can save even more money by buying a fuel efficient car with that insurance check (if it's totaled).


Not totaled thankfully...just quarter panel damage and a new headlight required. I had my totaled vehicle experience a year ago when I flipped my truck into a ditch. I plan to pay off this truck and the buy a hybrid of some sort. Im totally sold on public transportation for work though.

 

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World Class Peach



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  posted on 6/9/2008 at 03:00 PM
quote:
Im totally sold on public transportation for work though.


right on.

used to take the bus all the time when i lived in the city.

it's the way to go if you can work out the schedule.

One time one of the passengers insisted that the driver stop the bus, because she recognized me from "America's most Wanted."

 

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True Peach



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  posted on 6/9/2008 at 03:24 PM
quote:

One time one of the passengers insisted that the driver stop the bus, because she recognized me from "America's most Wanted."


Man, I hate it when that happens.

 

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Universal Peach



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  posted on 6/9/2008 at 03:26 PM
There is NO conspiracy...look to foreign interest getting into the market. Further,
the capability to 'refine' oil is limited..and the demand keeps growing. The ability to produce is not keeping up...no, the oil companies want to produce more, the government
regs are holding it up. Figure...if you had a product selling as fast as you could produce it, wouldnt you want to make more? Of course...the oil companies are making money,
isnt that what businesses do? I wish I had a business that had the same demand for my product. China, Korea, India, Taiwan, Europe, and smaller countries like Vietnam are now in the market for oil...growing..adding vehicles to their population.

 

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World Class Peach



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  posted on 6/9/2008 at 04:09 PM
quote:
quote:

One time one of the passengers insisted that the driver stop the bus, because she recognized me from "America's most Wanted."


Man, I hate it when that happens.


and I don't look a bit like John Walsh.

 

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Peach Pro



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  posted on 6/9/2008 at 04:27 PM
Oil: The Bushes' ties to John D. Rockefeller and Standard Oil go back 100 years, when Rockefeller made Buckeye Steel Castings wildly successful by convincing railroads that carried their oil to buy heavy equipment from Buckeye. George H. Walker helped refurbish the Soviet oil industry in the 1920s, and Prescott Bush acquired experience in the international oil business as a 22-year director of Dresser Industries. George H.W. Bush, in turn, worked for Dresser and ran his own offshore oil-drilling business, Zapata Offshore. George W. Bush mostly raised money from investors for oil businesses that failed. Currently, the family's oil focus is principally in the Middle East.

Enron is another family connection. The company's Kenneth L. Lay made his first connections with George H.W. Bush in the early 1980s when the latter was working on energy deregulation. When Bush became president in 1989, he gave Lay two prominent international roles: membership on the President's Export Council and the task of planning for a G-7 summit in Houston. Lay parlayed that exposure into new business overseas and clout with Washington agencies. Family favoritism soon followed. When Bush senior lost the 1992 election, Lay picked up with son George W., first in Texas and then as a top contributor to Bush's 2000 presidential campaign. Before Enron imploded in late 2001, it had more influence in a new administration than any other corporation in memory.

Full story here:
http://www.commondreams.org/views04/0208-05.htm

 

Peach Pro



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  posted on 6/9/2008 at 04:30 PM
even worse....

http://www.rense.com/general14/bushsformer.htm

 

Zen Peach



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  posted on 6/9/2008 at 04:31 PM
quote:
Oil is also an extremely volitile commodity traded on the futures market, a hotbed of emotion and usually lacking in reason, with its participants all having an unquenchable thrist for profit.


That and the weak dollar.

I blame most of it on commodity traders. After the price of a barrel of oil went up around $11 a barrel at the end of last week today it went down $3+ a barrel. There can't be that much fluctuation in the supply and demand.

 

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Zen Peach



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  posted on 6/9/2008 at 04:35 PM
quote:
quote:
Oil is also an extremely volitile commodity traded on the futures market, a hotbed of emotion and usually lacking in reason, with its participants all having an unquenchable thrist for profit.


That and the weak dollar.

I blame most of it on commodity traders. After the price of a barrel of oil went up around $11 a barrel at the end of last week today it went down $3+ a barrel. There can't be that much fluctuation in the supply and demand.


These idiots are another group Nader wants to reign in.

 

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Maximum Peach



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  posted on 6/9/2008 at 05:13 PM
The Big 5 Oil Companies (BP, Shell, Exon/Mobile, Conocco/Phillips, Chevron) only produce 11% of the world's oil. The vast vast majority is produced by government run companies of foreign countries (like Aramco - ie Saudia Arabia).

Sure they control the supply. But when your under ground assets are worth more in the ground than out that doesn't really translate into wanting to hurry it up. Do they willfully restrict their output to influence prices, probably. What is the incentive to pump it all out now when prices are expected to be higher in the future? Blaming just "big oil" for that doesn't paint the full picture. Oil producing countries around the globe have just as much, and usually more, influence on prices than "big oil". Is that the current problem, I don't think so.

Dollar is weak, and plays a large role in oil pricing, but $ is currently higher right now than it has been at times earlier this year, yet oil is surging.

Gasoline in middle east and China is subsidized. Those people don't see the price increase as the government keeps prices steady. We feel the price increase and we reduce our consumption, they don't. Depending how far we reduce our consumption, it could just be offset by an increase in foreign consumption.

I really think the main problem is in the futures markets. I am trying to learn more and have read alot on the subject and it is still confusing to me at times. There is alot of money in the commody markets right now, food, energy, metals, etc.

Last Friday's huge increase in oil prices began with threats out of Israel against Iran, but the main blame seemed to be people who were selling short on oil, had to come back in and cover - atleast that is what the financial talking heads are saying - whatever that means.

Meanwhile, we have politicans patting themselves on the back for suspending 70,000 barrels of oil per day to the strategic petroleum reserve, my US House Rep even said it would help gas prices $.05-.25 per gallon, yet 700,000 to 2 mil potential barrels per day out of new fields in Alaska would do little for prices. Huh?

Oil is a globally traded commodity. US Government can only control so much. However, I must say, something needs addressed here. I say start looking around in the commodity markets, something needs changed with how that market functions. I smell a large hedge fund influence, surely there is alot we don't know going on.

[Edited on 6/9/2008 by nebish]

 

World Class Peach



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  posted on 6/9/2008 at 06:11 PM
What about Diesel vs. Gas.


Remember not all that long ago.

Diesel was cheaper than gas.

Now, much more expensive.


Comes from the same dead dino's, right?

The same currency involved.

What gives?

 

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Zen Peach



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  posted on 6/9/2008 at 06:39 PM
quote:
What about Diesel vs. Gas.


Remember not all that long ago.

Diesel was cheaper than gas.

Now, much more expensive.


Comes from the same dead dino's, right?

The same currency involved.

What gives?


New cleaner burning diesel as required by the EPA

 

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