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Old 02-05-2013, 06:24 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,382 posts, read 28,648,553 times
Reputation: 12024

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their last refinery in NJ....just stumbled across this as it wasn't making big news

Closure of Hess' Port Reading refinery means layoffs for 170 employees | NJ.com
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Old 02-05-2013, 06:47 AM
 
Location: On the Rails in Northern NJ
12,380 posts, read 26,791,860 times
Reputation: 4580
Pure greed , they pulled in 38 billion last year and can't spend 46 million meet the latest standards.....what a joke and raising prices when they don't need to be raised....even more greed and scapegoating. They also receive billions in tax breaks and look at what they do , turn around and back stab the economy....all to save a tiny amount of money.
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Old 02-05-2013, 07:13 AM
 
Location: New Jersey/Florida
5,818 posts, read 12,594,246 times
Reputation: 4414
If you think they're high now wait to Iran gets bombed. They went up close to 20 cents without any major event. The bidders keep bidding up the futures.
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Old 02-05-2013, 07:23 AM
 
1,221 posts, read 2,102,103 times
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Hess has been getting out of the refining market for a while, this was the last refinery in the world they owned. No one wanted to buy it/operate it, so they're closing it.

Beyond that, it's rather humorous that you think the company should spend a bunch of money investing in a business/facility that doesn't make them any money, Nexis.
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Old 02-05-2013, 08:11 AM
 
3,984 posts, read 7,059,842 times
Reputation: 2889
Quote:
Originally Posted by JERSEY MAN View Post
If you think they're high now wait to Iran gets bombed. They went up close to 20 cents without any major event. The bidders keep bidding up the futures.
THis is what I heard on the radio this morning. May remain high for another 60-90 days...just in time for summer traveling to JUMP AGAIN
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Old 02-05-2013, 08:52 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,382 posts, read 28,648,553 times
Reputation: 12024
Quote:
Originally Posted by JERSEY MAN View Post
If you think they're high now wait to Iran gets bombed. They went up close to 20 cents without any major event. The bidders keep bidding up the futures.
Oh lord let's hope that doesn't happen, it scares the bejesus out of me the repercussions from that....is Israel threating that scenario again?
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Old 02-05-2013, 08:55 AM
 
Location: 32°19'03.7"N 106°43'55.9"W
9,350 posts, read 20,719,954 times
Reputation: 9888
Prices are rising like they do this time of year, every year. There is a changeover from winter blends to summer blends, and that interrupts the supply. There is a cycle of consumption every year, and mid-December to end of January is the very low end of that cycle. People start to drive more in February.

A good exercise would be to compare the cost of a gallon of fuel last year from February 1st to the 28th. I am certain the prices began to rise in early February last year too.

Of course, instead, we could blame George Bush. Or Obama for that matter. That has happened in the past.
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Old 02-05-2013, 09:01 AM
 
Location: High Bridge, NJ
3,859 posts, read 9,952,756 times
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Quote:
Originally Posted by mike0421 View Post
Of course, instead, we could blame George Bush. Or Obama for that matter. That has happened in the past.
NPR did a story on the results and interesting look at polling data over the past ten years about gas prices. In 2004 (George W. Bush administration), when asked "What can the President do about gas prices?" Republicans overwhelmingly said "not much," while Democrats overwhelmingly said "a lot." Fast forward six years to 2010 (Obama administration) and guess what? Flip Flop! When asked the exact same question, Republicans responded "a lot," and Democrats responded "not much." As long as crude oil is a globally traded commodity we are going to be at the mercy of price swings. You can forward email chains about "gas outs" and talk conspiracy theories all you want, but in the end you either have to pay up or walk
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Old 02-05-2013, 09:13 AM
 
Location: NJ & NV
5,767 posts, read 16,534,904 times
Reputation: 2470
We oughta just NAIL that price down at 99 cents and get rid of this nonsense!
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Old 02-05-2013, 09:50 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,382 posts, read 28,648,553 times
Reputation: 12024
Quote:
Originally Posted by captne76 View Post
We oughta just NAIL that price down at 99 cents and get rid of this nonsense!
I'd even be happy at 2-2.25 a gallon
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