Gas prices

Anonymous-0 · Jan 31, 2009

I told my brother back in October gas prices are dropping like a rock because of the election, but they will climb back up after the election. On Christmas eve I paid $1.63 a gallon, today a month later its $2.02? I know OPEC said they were gonna cut productiion, so the price would go back up. The news says we drove some billion miles less, drove a more fuel efficent car, but all they have to do is cut production and they have us by the throat. Is this a cat and mouse game or what? Youd have to be a fool not to see why Exxon Mobil had such a profit, people have to, and will buy gas no matter the cost. Id like to sell hay for $44.00 a bale, or cows for $8.00 a pound. Why do 2000 bales a year at $3.00 a bale when I could just do 200 at $44.00 a bale??????? Just like big oil, produce less, and drive the end cost up. What will Exxon make this year 100 billion?

Anonymous-0 · Jan 31, 2009

i think its the stock market(or where ever they trade oil).WE KNOW NOW THAT IT IS NOT SUPPLY AND DEMAND!

Anonymous-0 · Jan 31, 2009

Yes could be, I had heard last year investers were driving up oil prices throught futures or something.

Anonymous-0 · Jan 31, 2009

it was on 60 minutes a couple weeks ago

jbp · Jan 31, 2009

Had everyone rather all the oil companies lose money and go out of business. There has been a lot on the news about Exxon making record fourth quarter profits. If all businesses were making record profits, there would be jobs for all, and the economy would be going great guns. Profits are what makes the economy grow and provide jobs for everyone. Businesses losing money help no one.

trucker40 · Jan 31, 2009

Well its because they can run the price up now.So far nobody is stopping them.The way they have a strangle hold is they are going to tell the government everybody has all these 401k invested in oil,and if oil doesnt go up,all those retirement accounts dont make a profit.Then if the government goes to put price controls on them they will claim they cant make enough and theres a shortage.Then if the wind gets up in the Gulf of Mexico the price goes up again.
I dont see what is going to happen yet,but its going to be real painful probably for all of us over stock market greed.Probably end with us getting in a war with somebody and a bunch of oil company people unemployed,and a stock market in the trash can,draft,and worse conditions for everybody in the world.Another problem is if you really dig at who owns the oil companies,its England,and Canada,and big multi national companies who think they can do whatever they want because antitrust laws wont work on them as they are now.

olgentdc · Jan 31, 2009

HAIL !YES! THEY DID !!.. And the S.E.C let em do it ,TOO!!!, and so far BOMBER has not said anything about roping these SCOUNDRELS in ,, SPECULATOR INFLATORS is just one of the cars that derailed the train in this ECONOMIC TRAIN WRECK !!

JMS/.MN · Jan 31, 2009

Econ 101. Oil is a commodity, like grains, LP, gold, etc. Traded on the commodity market. Supply and demand have nothing to do with the price. Where have you been for the last two years? Investors left the stock market when they crashed that, went into the commodities market, ran the price of grains and oil sky high, and then pulled out. Ever hear of index funds? Not trying to defend oil companies, but where do they buy oil from? Commodity market! What is their margin of profit? "Big" profit? by what percentage of cash flow. Profit of any company dos not mean squat unless you tell the other side of the story- how many dollars of income and expense. ie, cash flow.

Anonymous-0 · Jan 31, 2009

No, I dont want the oil company to go out of bussiness, Im just saying how easy it is for them to make a profit. John Deere and Caterpillar just laid off workers, do you think these workers will be able to get a job with the oil company? I dont see how all companys can be profitable today! Do you think hourley workers for Exxon got huge pay increases???????

JMS/.MN · Jan 31, 2009

See Econ 101.

Anonymous-0 · Jan 31, 2009

Yes, I couldent remember the term Speculator inflators, or sepculation futures, buying on speculation something like that.

Tramway Guy · Jan 31, 2009

I don't know about where you are, but here in Northern New York gas has been going up, but diesel fuel just dropped after holding for the last three or four weeks...

Anonymous-0 · Jan 31, 2009

Thats what I said gas is going up. Diesel here $2.79 a gallon.

IH2444 · Jan 31, 2009

From an article I read a couple of days ago, storage tanks are pretty much bursting with surplus oil right now. Enough to run 14 million autos for a year is what I read.
Supply and demand is not playing a part in this price rise.

but it will be good for the economy on paper, since the oil price was what caused most of our GDP gains for the past couple of years, masking the true economic status.

trucker40 · Jan 31, 2009

That makes sense now.Thanks.

Now just off the top of my mind I think this,there doesnt have to be a stock market.Why not send the Marines over to Wall Street,padlock the doors,surround it with Marines,fly Air Force helicopters over it,and send some real smart people in there,get into the computers.Find out who is making all this money,what country it went to,and take all of it away from them.

Give the big shots about 15 minutes to decide they made the wrong decision putting oil on the commodities market,if not,line them up and firing squad them one at a time all day on every TV channel until they get it.

Jeff Oliver · Jan 31, 2009

I want them to make a profit just like any business. But these executives? there isn't a man in this whole world worth an 50 Million dollar bonus. And that is just his bonus not the salary. I read that one of the execs of an a banking company got that.

These are the guys who are supposed to run the company and make them profitable but this was one of the ones that was begging for bailout money. Now tell me, why would any company pay a guy that much for making it lose money?

I say again, NO ONE in the world is worth that kind of salary.

Heck I read that one of the NFL football players got fined a weeks salary for missing a practice. That was $172,000. Thats a WEEK!!! That is ridiculus,period.

JOE FARMER · Jan 31, 2009

WHATR I DONT GET IS THE E-85 SURGES
LAST WEEK 1.59[[[[[[[NOW MORE THAN REGULAR 1.90
WHOS GOING 2 BUY EHTYL WHENE REGULAR IS CHEAPER?????

GeneMO · Jan 31, 2009

Well I am just gonna quit buying their danged gas. I am gonna get the saddle out of the attic, put a good coat of neatsfoot oil on it and call ole Kandi out of the pasture.

I think I'll leave skipper alone, he is an ole Belgian and about 25 years old so I wont get far on him.

gene

Anonymous-0 · Jan 31, 2009

Ya, yell have to get yourself one of them fast thoroughbreds, track horse.

Don-Wi · Jan 31, 2009

The thing that's really bad-

We're still getting hit with fuel surcharges on everything that took effect about a year or so ago, and yet the price of HWY fuel is cheaper now than farm deisel was 2 1/2 years ago. Dad calls them up to complain, and they come up with some BS to justify it.

Donovan from Wisconsin

tlak · Feb 2, 2009

In the history of your Econ 101 what was the process or proceedure of buying/selling oil before the price gouging?

greygoat · Feb 2, 2009

The SCHWANS man still wants a fuel surcharge. I
told him not to stop anymore. I have to go to
town for milk and bread anyway.

Gas prices

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