Gas Has Gone Way Up (Memphis, Knoxville: co-op, houses, employment)

[jabogitlu]

Yep, it is stupid. "They" are trying to figure out why our economy is slowing? Um, well, for one, I can't afford gas to do anything except drive to work and back. Seriously. I stop once a week to pick up supplies on my way home from work, and that's it!

[gary1958]

Commodities market just closed with all time record highs,not a good sign.
Crude @ 117.00
Wholesale gas @2.99

[srinne3]

Last week it was up to 3.57/gal for reg in Pierson MI, has dropped to 3.47/gal as of yesterday. We will be driving a 24 ft truck with a 55 gal tank, a Mercury Grand Marquis, and a dodge neon, I'm praying the money we have set aside for gas will be enough....

[Ridgerunner]

Yesterday on the way to the bank to get some milk and eggs from the vault I noticed that unleaded regular was $3.43 here in Kingsport.

[Shenandoah]

Originally Posted by johnbain

The sad thing is gas could be dropped to a $2.00 a gallon and the top dogs would still make tons of money. It is nothing but greed. I wish everyone in the USA would stop buying gas for an entire week. Everyone at once. I bet they would lower gas quite a bit.

......ok, I'll restrain myself, and just comment that this poster should honestly do some research, instead of listening to rhetoric. Just take a look at the gas pump next time you're filling up and see just how much state tax is lumped onto the price of gasoline.

blessings, Shen

[Shenandoah]

$3.49 here in Western PA, with about 43c per gallon state tax per gallon on gasoline. I commute about 21 miles and try to combine as many stops as possible on the drive back. I've got to fill up today. And the PowerBall is up to $105 million.

blessings, Shen

[Ridgerunner]

Originally Posted by Shenandoah

......ok, I'll restrain myself, and just comment that this poster should honestly do some research, instead of listening to rhetoric. Just take a look at the gas pump next time you're filling up and see just how much state tax is lumped onto the price of gasoline.

blessings, Shen

Shen, you are so right. Furthermore, the oil industry makes around 8 cents per gallon of gasoline sold. I work for a trucking company that spends several million dollars per month on diesel fuel and they get a discount of only 5 cents per gallon.

[Shenandoah]

Ridgerunner, anytime I see a political ad that the politician wants to tax "Windfall Profits", I want to barf. Since when is 8c per gallon a windfall? Especially since the government is taking 43c per gallon?? Who, here, is truly getting the 'Windfall Profit'?? And also consider that out of that 8c per gallon, the oil companies have exploration, drilling and refining costs, as well as administrative and delivery. I'd say their profit margin is pretty low.
Hurricane Katrina really opened everyone's eyes to the need for more and newer oil refineries, as well as developing shale oil in Wyoming, Colorado and Utah, along with drilling in ANWR.

From Heritage.org:
"Since the 1980s, the cost of oil exploration and drilling has increased. These projects cost billions of dollars and last for decades, over which time the price of oil will fluctuate. Indeed, the price of oil was well under $20 per barrel for most of the 1990s, reaching a low near $10 per barrel as recently as 1998. Needless to say, oil industry profits were quite modest at the time, and many oil wells were operating at a loss. If producers have to endure periods of low oil prices but must forfeit extra proceeds to the government in times of high prices, they will not undertake as much exploration and drilling. OPEC and foreign oil companies would again be given a comparative advantage relative to U.S.-based firms."

blessings, Shen

[Ridgerunner]

Originally Posted by Shenandoah

Ridgerunner, anytime I see a political ad that the politician wants to tax "Windfall Profits", I want to barf. Since when is 8c per gallon a windfall? Especially since the government is taking 43c per gallon?? Who, here, is truly getting the 'Windfall Profit'?? And also consider that out of that 8c per gallon, the oil companies have exploration, drilling and refining costs, as well as administrative and delivery. I'd say their profit margin is pretty low.
Hurricane Katrina really opened everyone's eyes to the need for more and newer oil refineries, as well as developing shale oil in Wyoming, Colorado and Utah, along with drilling in ANWR.

From Heritage.org:
"Since the 1980s, the cost of oil exploration and drilling has increased. These projects cost billions of dollars and last for decades, over which time the price of oil will fluctuate. Indeed, the price of oil was well under $20 per barrel for most of the 1990s, reaching a low near $10 per barrel as recently as 1998. Needless to say, oil industry profits were quite modest at the time, and many oil wells were operating at a loss. If producers have to endure periods of low oil prices but must forfeit extra proceeds to the government in times of high prices, they will not undertake as much exploration and drilling. OPEC and foreign oil companies would again be given a comparative advantage relative to U.S.-based firms."

blessings, Shen

Another big problem we have is spineless politicians who will not stand up to the environmentalist wackos who prevent drilling in our vast oil reserves. Meanwhile, Russia and other nations are drilling just off our shores.

[hiknapster]

Wow! I saw lots of $3.35 and one $3.37 today in Knoxville.