$2.08 a gallon. What do you have?

[Best Buckeye]

$3.84 last night.

[BuckeyeMike80]

Originally Posted by Taosman

This is what's driving down oil prices. Will we see gas prices drop or will there just be more gouging? With another big holiday less than a month away I wouldn't look for much change at the pump. Perhaps after July 4th we could see some relief.

someone correct me if I'm wrong, but the gas we are buying now was bought as oil back in late March/Early April.....

It doesn't always correlate, but we'll be in $4 a gallon by the end of June as the oil from the run up to Memorial Day hits the refineries and then the pump.

I am SO glad this is finally hurting us...maybe now we will do something else than sitting around and making meaningless statements for the camera in DC....

[sandgk]

Originally Posted by BuckeyeMike80

someone correct me if I'm wrong, but the gas we are buying now was bought as oil back in late March/Early April.....

It doesn't always correlate, but we'll be in $4 a gallon by the end of June as the oil from the run up to Memorial Day hits the refineries and then the pump.

I am SO glad this is finally hurting us...maybe now we will do something else than sitting around and making meaningless statements for the camera in DC....

A reasonable metric is not so much which gallon of gas is in the pipeline so much as when is the price of the higher oil reflected in wholesale gasoline, and then later at the pump.

This article suggests that, in general, wholesale gasoline responds very quickly to adjustments in the going rate per barrel of oil - then in another three weeks that price adjustment would be reflected at the pump. So early May prices, by that model should be in play right now.

Where I think the thesis in the article breaks down is that we have been witness to near instantaneous reflection of increased spot oil price to higher prices at the pump.

[BuckeyeTillIDie]

General Motors, Others Decide the SUV is Dead - U.S. News Rankings and Reviews

Perhaps the main reason for rising gas prices, the [censored]ing assholes that have to drive gigantic SUVs.

[NorthShoreBuck]

I buy on and off road diesel and just got an email from my distributor to expect price to go up 15 to 20 cents over the weekend. It looked like crude was up $5 a barrel earlier.

I bought gas for $3.72 yesterday.

[BuckeyeTillIDie]

Oil rises more than $10 to new record high - Yahoo! News

$137 a barrel now

[fourteenandoh]

I would say the big news today is Israel/Iran. That's some pretty agressive talk coming out of Israel.

[sandgk]

Originally Posted by BuckeyeTillIDie

Oil rises more than $10 to new record high - Yahoo! News

$137 a barrel now

Oh - never mind, it'll take at least 3 weeks or more for those prices to hit the pump

Originally Posted by BuckeyeTillIDie

General Motors, Others Decide the SUV is Dead - U.S. News Rankings and Reviews

Perhaps the main reason for rising gas prices, the [censored]ing assholes that have to drive gigantic SUVs.

Help is on the way!!

This article says that within 5 years many new technologies leading to 40 MPG SUVs or better could be on the road.

The sad part - that article was written in November 2002 - and nothing was done since then.

[fourteenandoh]

Originally Posted by sandgk

Oh - never mind, it'll take at least 3 weeks or more for those prices to hit the pump


Help is on the way!!

This article says that within 5 years many new technologies leading to 40 MPG SUVs or better could be on the road.

The sad part - that article was written in November 2002 - and nothing was done since then.

funny you say that. the other day i was reading a bunch of articles that i googled about oil and speculation. the articles all sounded the same about the spike and the speculators and how supply and deman hasn't changed etc etc. then you would read the last sentence and it would say something to the effect of "crude oil prices closed at a new all time high of 52.50 and most analysts agree that there is a 20 dollar speculative premium built in" I would then look at the date and the article i was reading was over 2 or 3 years old. I think the media is just copying an pasting the same articles over and over and just changing the prices to reflect the current price.

[sandgk]

fourteenandoh - here is a list that could almost have been compiled from the opinions in this thread and the "Exxon .. Profits" thread.

27 factors that make up a "George Costanza" policy - as in doing the opposite of what your gut or analysis tells you is the right thing to solve a problem.

27 things that make for higher oil prices ... The Big Picture

1. Limited areas available for offshore drilling;
2. Stopped the rise of CAFE standards for automobiles;
3. Restricted nuclear power generation of Electrical;
4. Federal Reserve policies since 2001 led to a very weak US dollar (raising Oil prices);

5. Energy conservation policies? None
6. Iraq and Afghanistan wars contributing to Middle East tensions
7. No major United States funding for R&D on energy;
8. Kept CAFE standards for light trucks/SUVs much lower than autos;
9. Failed to raise efficiency standards for appliances for decades;

10. Provided no tax incentives for consumer purchases of hybrid automobiles for decades (in 2005, provided a modest, now expired tax credit);
11. Suburban Sprawl: Americans, on average, live further from where they work than Europeans do;
12. Mass transit system not a high priority;
13. Allowed tax credits for residential solar power to expire;
14. No special capital gains treatment for VC alt.energy investment
15. Ridiculous corn ethanol policy helped drive food prices higher also;
16. Amongst the lowest gasoline taxes in the developed world;
17. No special capital gains tax treatment for clean energy technology development;
18. Created a tax incentive (ADCS) that encouraged purchases of large inefficient vehicles;
19. Game changing breakthroughs over the past decades in solar, battery, or energy generation technologies? None
20. Exempted light trucks, SUVs, and pickups from gas-guzzler tax;
21. Discouraged clean coal, including gas liquification from coal;
22. Limited (or non-existent) state tax incentives for building energy efficient homes;

23. Failed to aggressively promote compact fluorescent light bulb;
24. Limited hydro-electric power generation;
25. Aggressive tax incentives for battery technology development? None
26. Failed to aggressively promote efficiency improvements for residential energy use, transmission of power, or consumption;
27. No new oil refineries built in the USA over the past 25 years.

I don't know if he wrote that in order of perceived importance - but one other recent trend suggests that is so. Oil Up - Dollar Down

Oil Up



And the Dollar Down

[Sdgobucks]

Smart people in the buisness seem to think Oil will hit $200 a barrel by the end of this year. That should put gasoline somewhere around $6-$7 a gallon. The good news is that it cant go too much higher than $9 a gallon, or liquid Hydrogen via electrolysis becomes cheaper, even using old technologies. The bad news, $9 a gallon gasoline will bankrupt all US automakers, and cripple the economy with inflation.

[Taosman]

Jumped again. From $3.99 to $4.09 for regular. Where's the outrage people? This takes food off of the table of the middle and lower income groups.

[Sdgobucks]

Originally Posted by Taosman

Jumped again. From $3.99 to $4.09 for regular. Where's the outrage people? This takes food off of the table of the middle and lower income groups.

The anger is there, but what can be done about it? The things that should have been done like R&D on Hydrogen engines, new electrolysis processes, building more powerplants from cheap energy sources such as Nuclear, Solar, and Wind should have been done 15 years ago. The outrage is there, I know mine will be expressed with my purchasing power by buying alternative fueled vehicles when they arive, and buying, and driving as little as possible until then.

[SanAntonioBuck]

last night $3.95

[BuckeyeMac]

I'm so sick of this gas [censored]. [censored] the animals let's start worrying about us humans. Start drilling here in the U.S.