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$3.17 down the street, saw $3.06 near downtown while running errands a couple of days ago.
I'm not going to say that there are people making more (on a percentage basis) than a couple of months ago, but you're forgetting a couple of things. First, it does take time for the contacts being bought today to turn into actual oil sitting at a refinery. Second, there are costs other than the raw materials when producing gasoline. If oil dropped to $0/bbl, you'd still have to pay for gas...
While I agree with you here, you have to admit the pace of price run up was far more reactive than the price downturn. Frankly, at this moment I don't see a justification (including out here in CA) for pump prices over $2.80.
CD DOOOOOOOOOOOOOOOOOOOOOMSSSSSDAAAAAYYYY SQUUUUAAAAAAAAAAADDDDDD!!!!!!!!!!
Where are they? The ignorant... no... STUPID fools that made all these claims that oil would NEVER go back down. Maybe it will stay, maybe it won't... the point is its down and it continues to go down. I want name names soooo bad!... Because I know none of those people will show their face. But for those who wish to know who those people are, they're the ones who say America will NEVER claw their way out of this economic crisis... just look for those jive talkin' fools.
But gas prices certainly haven't gone down to half of their former prices have they? We're still paying around 3 dollars a gallon here in North Texas. And I hear in other places it's MUCH higher.
Nah, but you have to admit in the environment we were experiencing at that time, it was a very contrarian position. My main point though is the commodity itself is very profitable at $70, for tough extraction and alternative production.
Those higher prices were never justified, despite all of that junk you heard about "peak oil".
Last edited by NewToCA; 10-16-2008 at 08:27 PM..
Reason: can't spell
Nah, but you have to admit in the environment we were experiencing at that time, is was a very contrarian position. My main point though is the commodity itself is very profitable at $70, for tough extraction and alternative production.
Those higher prices were never justified, despite all of that junk you heard about "peak oil".
I'm just harassing you. You were right and I was one who was quick to panic. I don't think there's anything wrong with rubbing some noses in it.
So was it just what you were reading at the time or were there signs that you were aware of?
I'm just harassing you. You were right and I was one who was quick to panic. I don't think there's anything wrong with rubbing some noses in it.
So was it just what you were reading at the time or were there signs that you were aware of?
I was reading a few things, mostly from the industry itself. I was trying to find out:
1 - the cost to extract, process and transport the oil obtained from the Alberta oil sands
2 - The cost to create, process and transport oil created by the Brazilian sugar based ethanol
3 - The cost to reimburse over a three year period all of the money spent to develop the infrastructure for biomass produced fuel, plus the cost of processing and transportation
All of these came in very profitable at $70, hence my statement back at that time.
I was reading a few things, mostly from the industry itself. I was trying to find out:
1 - the cost to extract, process and transport the oil obtained from the Alberta oil sands
2 - The cost to create, process and transport oil created by the Brazilian sugar based ethanol
3 - The cost to reimburse over a three year period all of the money spent to develop the infrastructure for biomass produced fuel, plus the cost of processing and transportation
All of these came in very profitable at $70, hence my statement back at that time.
Notice how now that prices have come down and people quit panicking about the high price, the clowns.......oops I mean candidates have quit talking about doing something about it...(even though they never intended to do anything about it).
I wonder if the auto makers will also quit their accelerated research to develop a car that does not need gas.
If you will all think back to the last election the prices dropped to about $2.50 a gal. after the elect they climbed like titan rocket.
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