[SolidSnake85]

Does everyone think the prices are incredulously ridiculous?! In the state of California of where I live is nearly $4 a gallon! Part of it is Supply and Demand but isn't the other part about Iraq because that is where we mainly get our oil and we have trouble shipping it to the United States? Well I hate it and I think people should try to save the environment by driving hybrids. Half gas, half electrical. I'm thinking if people drive more hybrids, the pollution would be much less. The gas prices are NEVER going to get lower. Pretty soon it will probably be $10 a gallon!!!

[lotuseclat79]

We do not get most of our oil from Iraq. $5/gallon more likely than $10.

-- Tom

[rob821]

Well prices in the UK at the moment are about £0.99 a litre - about $7.50 a US gallon...most of that is Govt tax though.

[Gibble]

You get most of your oil from us Canucks.

[DiSaidSo]

Originally Posted by Gibble

You get most of your oil from us Canucks.

It doesn't really matter much where we get the oil. OPEC controls the prices anyway.

[Knotbored]

Originally Posted by DiSaidSo

It doesn't really matter much where we get the oil. OPEC controls the prices anyway.

OPEC controls the well output from several Arab states (and a couple others like Venezuella) but does not directly dictate the price. The price is determined by processers and investers that buy next weeks (and next months and years) available oil by bidding against each other. When there are more buyers then sellers the price goes up-when there are more sellers it goes down.
For example Canada oil is sold at the best available price and so is Texas oil.
If its processed in Texas then its obviously cheaper to buy locally, but sometimes its cheaper to buy Arab oil and transport it then it is to pump it in texas. An investor that bought "futures" a year ago is making out like a bandit.
Anyone buying "futures" now is risking being left holding the bag if oil prices drop (because oil volume increases by OPEC, but are betting that world need will catch up.

[poochee]

Too bad we can't take advantage of the oil in Cuba.

[silentmage]

i saw a chart somewhere that showed wholesale gasoline (where the gas companies get it from) at like 1.50-2.00 a gallon. gas here in smallsberry md is 3.00 so they are marking it up as much as 100%. who gets all that money?!?!?!?!

[imrippinit]

Originally Posted by poochee

Too bad we can't take advantage of the oil in Cuba.

...or the oil under the frozen, northern tundras of Alaska...

[poochee]

Originally Posted by imrippinit

...or the oil under the frozen, northern tundras of Alaska...

They also discovered more oil in Brazil last week!

[idar]

I think it's rediculous that it can go up .30 overnight, then drop by pennies over the next week. Supply and demand my ****!!!! I think it's the COE's of the oil companies who are getting rich off the middle class working guy!

[caraewilton]

I live in south africa. We pay something like R6.50 a litre. In dollars that would be less than a dollar per litre so guess I can't complain.

[SolidSnake85]

Originally Posted by imrippinit

...or the oil under the frozen, northern tundras of Alaska...

The problem with that is, scientists say that it will hurt the environment if we try to get gasoline through The Trans-Alaska Pipeline.

[Gibble]

Originally Posted by silentmage

i saw a chart somewhere that showed wholesale gasoline (where the gas companies get it from) at like 1.50-2.00 a gallon. gas here in smallsberry md is 3.00 so they are marking it up as much as 100%. who gets all that money?!?!?!?!

There are expenses between that purchase at wholesale prices and it getting into your car. It doesn't just get there by magic.

[Gibble]

Originally Posted by idar

I think it's rediculous that it can go up .30 overnight, then drop by pennies over the next week. Supply and demand my ****!!!! I think it's the COE's of the oil companies who are getting rich off the middle class working guy!

Everyone, including the middle and lower class, make there money off the middle class. It's the largest group of productive workers.

The poor can't support everyone, as they can barely support themselves. And there simply aren't enough rich to support everyone.