$3.99 Gallon

[Kathianne]

Bargain for gas today! Last week it was at $4.59. Funny thing, on futures it's at over $102. barrel. Go figure.

[Salty]

3.65 where I am presently but it's time to walk, bike and seek alternative transportation. Also wear cotton instead of synthetics and avoid over wrapped oil produced plastic packaging and items if possible. Join an alternative to your own electric "grid" by installing a few solar panels (you can get some cheap ones at an auto parts store) every little bit helps.

[logroller]

3.65 where I am presently but it's time to walk, bike and seek alternative transportation. Also wear cotton instead of synthetics and avoid over wrapped oil produced plastic packaging and items if possible. Join an alternative to your own electric "grid" by installing a few solar panels (you can get some cheap ones at an auto parts store) every little bit helps.

Good on ya walking/ biking; same thing for combining trips, carpooling etc. Mobile demand (autos+trucks), along with heating fuel have the most significant demand on oil. The price of oil doesn't have much impact on the cost of electricity; electricity is mostly sourced from natgas and coal. As for solar, every little bit does help, but there's a simple economic reason we don't have bucket brigades for fire-fighting-- Bang for the buck, cfls and automatic-off switches payback in months, not years.

[tailfins]

3.65 where I am presently but it's time to walk, bike and seek alternative transportation. Also wear cotton instead of synthetics and avoid over wrapped oil produced plastic packaging and items if possible. Join an alternative to your own electric "grid" by installing a few solar panels (you can get some cheap ones at an auto parts store) every little bit helps.

It's time to take on a extra part-time project to compensate for lost purchasing power. I'm not interested in letting B-HO and his policies rain on my parade. I will be driving about 4,000 miles on vacation this year.

[jimnyc]

Bargain for gas today! Last week it was at $4.59. Funny thing, on futures it's at over $102. barrel. Go figure.

Wow, $4.59, you got NY beat, at least if that's regular. Gassed up last night and it was at $4.29 for the regular, and I "think" it was $4.49 for premium.

Was it really $1.80 when Bush left office as the Obama haters are saying? Damn, that feels like a LONG time ago.

[Kathianne]

Wow, $4.59, you got NY beat, at least if that's regular. Gassed up last night and it was at $4.29 for the regular, and I "think" it was $4.49 for premium.

Was it really $1.80 when Bush left office as the Obama haters are saying? Damn, that feels like a LONG time ago.

Price of gas here has been competing with CA on highest in country. Now yesterday it WAS $3.99 which seems lower than NY's? LOL! IL has all sorts of 'special blends' that jack up the prices.

[Gator Monroe]

6.99 in Beverly Hills & Catalina Island Ca.

[Salty]

It's time to take on a extra part-time project to compensate for lost purchasing power. I'm not interested in letting B-HO and his policies rain on my parade. I will be driving about 4,000 miles on vacation this year.

What does BHO have to do with the price of gas or tea in China for that matter? :laugh:

[Gator Monroe]

What does BHO have to do with the price of gas or tea in China for that matter? :laugh:

Blame Bush !:lol:

[Salty]

Blame Bush !:lol:

The only thing we could blame either for would be not setting a good energy policy and that is the fault of lobbied congress as much as anything.

[fj1200]

The only thing we could blame either for would be not setting a good energy policy and that is the fault of lobbied congress as much as anything.

How so?

[Kathianne]

How so?
No mention of the lack of support that should have been pushed.

[Anton Chigurh]

What does BHO have to do with the price of gas or tea in China for that matter? :laugh:There are FOUR IMMEDIATE THINGS Obama can do to take at LEAST a dollar off the price of gasoline per gallon right away:

1.) Eliminate all the different blends and formulas. We really do NOT need 100 blends for regular unleaded gasoline. Just ease that regulation for a year. Come up with ONE intermediate formula to be used nationwide.

2.) Suspend the federal tax at the pump, which is running about 19 cents per gallon. Just end it for a year to start off.

3.) END the ethanol boondoggle. Cease the requirement for ethanol in gasoline. It doesn't help the environment, it doesn't save gasoline because you have to have a heavier foot to get the same performance than you would have with just straight gasoline, and it ADDS TO THE COST AT THE PUMP!. People would end up using less gas as well!

4.) Yes, DRILL! Stop stonewalling permits and take down the rest of the barriers to production your administration has erected! Announce that domestic production is a high priority and ease these restrictions, approve the Keystone pipeline and open up ANWR for production, and the price of crude drops immediately on the world market because it will scare the hell out of the speculators! Works every time it's tried, hell it even worked when YOU did it in 2010, announcing your partnership with other countries to release more oil from the strategic reserve. Oil prices TUMBLED immediately.

Of course, the Obama administration will do none of this. Because the EnviroNazis would go absolutely NUTS and it's re-election time. And because high gasoline prices is what the left WANTS. Read Al Gore's book, "Earth in the Balance" for crikey sakes - everything we are seeing today is IN that book. The stated goal even then was $5/gallon gasoline! The blueprint for artificially inflating the cost of fossil fuels was LAID OUT in that book!

85% of the price per gallon of gasoline at the pump is:


The cost of crude oil (Which is TAXED as produced or imported)
The cost of refining (Which, every gallon produced is TAXED when sold, and onerous regulation and formulation requirements greatly drives up the costs)
The cost of distribution (The trucking companies that deliver gasoline to the retail outlets. They are TAXED as well, at point of sale)
Direct Taxation (Local, State and federal TAXES at the pump, the consumer pays)


It's the TAXATION and OVER REGULATION that accounts for more than half of what we pay at the pump!

[fj1200]

The cost driver for gas is the price of crude:
http://macromon.files.wordpress.com/2011/03/gallon-of-gas1.jpg?w=640&h=527

Exactly when did oil prices tumble in 2010?

http://www.oilprice.com/uploads/AC547.png

The unfortunate reality is that the Federal Reserve is the true cost driver for gas prices. They have done an abhorrent job at managing the money supply since about 2003.

[Anton Chigurh]

The cost driver for gas is the price of crude:

Exactly when did oil prices tumble in 2010?

The unfortunate reality is that the Federal Reserve is the true cost driver for gas prices. They have done an abhorrent job at managing the money supply since about 2003.Yes, because even right now when you adjust for inflation overall and de-flation of the dollar, gasoline is still cheaper today than it was in 1980.

Constantly printing more and more money to try to offset and cheapen the debt is one of the big reasons oil futures are out of control.

Your price of oil chart isn't the figure I was talking, I was talking about the futures market, which did tumble on the threat of billions of gallons of crude flooding the market. And it does, every time that is even mentioned.

Obama won't do anything resembling that right now because he has a small, but loud, shrill and important voting bloc to keep in line for November - the EnviroNazis.

[fj1200]

Your price of oil chart isn't the figure I was talking, I was talking about the futures market, which did tumble on the threat of billions of gallons of crude flooding the market. And it does, every time that is even mentioned.

Link?

[Anton Chigurh]

Link?Study and learn:

2011 IEA Coordinated Release

On this page:

http://www.fossil.energy.gov/programs/reserves/spr/index.html


On June 23, 2011, Secretary Chu announced that the U.S. and its partners in the International Energy Agency (IEA) would release a total of 60 million barrels of oil onto the world market. The Secretary stated, "We are taking this action in response to the ongoing loss of crude oil due to supply disruptions in Libya and other countries and their impact on the global economic recovery." Under the IEA's response measures guidelines, the United States' obligation was for 30 million barrels.

The SPR issued a Notice of Sale on June 24, 2011, to solicit competitive offers for the purchase of 30 million barrels of sweet crude oil to be delivered by the end of August 2011. DOE received over 90 offers that resulted in 28 contracts with 15 companies for deliveries of 30,640,000 barrels. This was actually announced by Obama in late 2010, during the congressional election campaign, and well before Chu's announcement. The oil futures market tanked, as the speculators temporarily fled, and the price at the pump dropped.

[fj1200]

Study and learn:

...

This was actually announced by Obama in late 2010, during the congressional election campaign, and well before Chu's announcement. The oil futures market tanked, as the speculators temporarily fled, and the price at the pump dropped.

Provide something educational please. You'll have to point out the futures market "tanking" in late 2010 and correlate it to Obama pronouncements:

http://g.foolcdn.com/img.ashx?q=http%3a%2f%2fwww.motleyfool.idmanagedso lutions.com%2fcharts%2fcaps%2fthumbnail.chart%3fID _NOTATION%3d946086%26TIME_SPAN%3d3Y%26TYPE%3dmount ain%26RESOLUTION%3dD%26AXIS_SCALE%3dlin%26IND_1%3d %26AVG1%3d%26IND_4%3d%26HEIGHT%3d160%26WIDTH%3d335 %26ID_BENCH4_DATE%3d%26ID_BENCH1%3d%26ID_BENCH2%3d %26ID_BENCH3%3d%26CLOSE_LINE%3d0&k=04162012
http://www.dailyfinance.com/quote/nymex/light-sweet-crude-oil-futures/~cl

The problem is a temporary 30bb barrel release isn't going to have a long-term, if even much short-term, effect on the overall price. Here at least is the news regarding the June 2011 release announcement:



Oil prices, which were already sliding Thursday, fell even further after the announcement."Oil prices are getting assaulted on two fronts today," said Kloza.In fact, oil and gas prices have been falling for the past several months. The price of a gallon of gas nearly broke $4 in May. Gas prices were selling at $3.61 a gallon Wednesday, according to motorist group AAA.
Most experts attribute the price declines to expectations of weaker demand as the economic recovery continues to slow.
http://money.cnn.com/2011/06/23/markets/oil_prices/index.htm