Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I agree with Austin-Steve, when you need a truck you NEED a truck. But let me add a qualifier, usually.
When I lived in Houston I had 16 rental houses, and did all my own work. I never owned a truck.
I used a Plymouth valiant with a roof rack and 4 x 8 utility trailer... worked great for many years... although the van that I replaced it with is a true mobile workshop...
CNN reported that gas in IRAQ is 45 cents a gallon. Secondly during the oil company heaings in Washington DC reported that manufacturing cost for a barrel of is 55 dollars.
Look at the price of those refineries and the price of crude.Notice that the hearings did not find any wrong doing but that the prices followed the supply and demand.Notive that ven exxons 6.7% profit wasn't anyhting really high when looking at corporate profits. look aTt the hearing records again and you will see congresses own witness not in the oil buisness but a expert on oil say that refining was not profitable from the 70's until 2003.he also said that we didn't need to build more refineries because in ears to come we would need the capacity has oil was phased out and that no one could even estimate the final cost of a new refinery;the steel needed would be hard to find i the world market and the return over time does not justify the expense. He pointed out from 70's thru 2003 many refineries in the US were sold multiple times.The number of refinery workers were cut in halh in restructuring as the auto makers are doing. But i the enmd the money is and has alweays been in the crude itself;why its called black gold.The main thng that drives oil prices is supply with a growing world market that more and more has little to do with US increases in use and the Places it is produced and cost to get to it. You do just setu a well on land much anymore and if a hurricane comes you better have huge reserves to get back in production. If a major hurricane hiots the western gulf this year lok for price to skyrocket.
During the hearing is was reported Michael Greenburger (the former speculation committe chairman) reported that gas could drop 25 to fifty percent. If spectulation could proprerly regulated would get prices back under control would drop the almost right away. These controls were removed in 2000.
One reason is we have seen the price of oil more than double from $60 to $135 is just over two years without major supply disruptions. We have also been plagued by manipulation in other energy markets.
Enron and others manipulated the Western electricity markets in 2000 and 2001 and cost consumers over $40 billion. In light of that, Congress gave the Federal Energy Regulatory Commission new authority in the Energy Policy Act of 2005.
Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the wholesale electricity and natural gas markets. We’re going to hear today from FERC’s Deputy Director of Investigation and Enforcement on how FERC has used its new authority to root out manipulation in physical electricity and natural gas markets.
To date, FERC has used its new authority to conduct 64 investigations resulting in 14 settlements totaling over $48 million in civil penalties. We have seen the very same energy traders move from Enron to Amaranth, and American families and business alike have the same concerns about potential manipulation in our oil markets.
Last December 2007, Congress granted the FTC anti-manipulation authority in the Energy Bill. Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the purchase or sale of crude oil, gasoline, or petroleum distillates at wholesale.
Americans may be surprised to learn that our oil futures markets were substantially deregulated by CFTC staff decisions that were made behind closed doors. This “London-Loophole” and now the “Dubai-Loophole” is keeping important U.S. energy trading in the dark. And without proper light manipulators have free reign.
Last edited by seattlegasman; 06-08-2008 at 04:42 PM..
CNN reported that gas in IRAQ is 45 cents a gallon. Secondly during the oil company heaings in Washington DC reported that manufacturing cost for a barrel of is 55 dollars.
So why does gas have to be so exspensive???
Iraqi gas prices are subsidized and isn't taxed heavily. That is the main reason that gas varies by 9 dollars a gallon depending upon the country.
During the hearing is was reported Michael Greenburger (the former speculation committe chairman) reported that gas could drop 25 to fifty percent. If spectulation could proprerly regulated would get prices back under control would drop the almost right away. These controls were removed in 2000.
One reason is we have seen the price of oil more than double from $60 to $135 is just over two years without major supply disruptions. We have also been plagued by manipulation in other energy markets.
Enron and others manipulated the Western electricity markets in 2000 and 2001 and cost consumers over $40 billion. In light of that, Congress gave the Federal Energy Regulatory Commission new authority in the Energy Policy Act of 2005.
Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the wholesale electricity and natural gas markets. We’re going to hear today from FERC’s Deputy Director of Investigation and Enforcement on how FERC has used its new authority to root out manipulation in physical electricity and natural gas markets.
To date, FERC has used its new authority to conduct 64 investigations resulting in 14 settlements totaling over $48 million in civil penalties. We have seen the very same energy traders move from Enron to Amaranth, and American families and business alike have the same concerns about potential manipulation in our oil markets.
Last December 2007, Congress granted the FTC anti-manipulation authority in the Energy Bill. Specifically, Congress made it “unlawful for any person … to use or employ … any manipulative or deceptive device or contrivance,” in connection with the purchase or sale of crude oil, gasoline, or petroleum distillates at wholesale.
Americans may be surprised to learn that our oil futures markets were substantially deregulated by CFTC staff decisions that were made behind closed doors. This “London-Loophole” and now the “Dubai-Loophole” is keeping important U.S. energy trading in the dark. And without proper light manipulators have free reign.
You seem to run rampant with the "one reason" becoming it's all attributable to maniupulation. Yes, some of it is...but consider that the dollar used to be worth 1.40 canadian...meaning that gas would be oh...$75 a barrel right now if we hadn't devalued our currency. So, the big issue is that we consume too much gas, our dollar has severly shrank and a far distant 3rd is that speculation has increased costs.
P.S. It's a bit hard to follow your posts with missing verbs and nouns. Please help me out a bit. :-)
No we actually do not consume too much gas. The problem is we depend on too much foriegn oil and will not drill for our own oil. China for example is drilling off our coast and we are not. SO MY QUESTIONIS WHY?
We can drill off our coasts but that oil will go to the highest bidder which is not the U.S. Simple supply and demand.
Last week the newspaper ran an article about a woman who was thinking of quiting her job/early retirement because of gas costs.... the woman did a 170 mile round trip daily. They love to use these extreme examples and sensationalize.
The average driver is paying a minimal amount more per month. I had to take a cab last night and the driver told me he's not hurting at all. they tend to wait for calls rather than cruise around and the cost is minimal usually offsets one another.
CNN reported that gas in IRAQ is 45 cents a gallon. Secondly during the oil company heaings in Washington DC reported that manufacturing cost for a barrel of is 55 dollars.
So why does gas have to be so exspensive???
Because the Saudi subsidise the price of gasoline as do many other nations like China.%% dollars is the manufacturing cost alone then you have to add the cost of cruide. Pipelineing to and from the refinery and things like maintance besides other cost.Most peole fail to know that refineries did not make a profit in the refining between mid70's and 2003. The money had always been in the crude that;'s why it is called balck gold and the reason that so many refineries were sold during that time span.Where I live there is not a refinery owned by the sam ecompany has in the 70's;they were all sold.If you looked at the two latest congressional hearings i the senate and the house you will see they have left theold there is enough crude;its big oil and switched to the speculators in hunting the bad guys. Look at congress and you will see the blame in their policies .
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Energy Hearing
