the runup, yet gas prices are not even close to what it was then. Its one thing to have alittle difference, but the gas prices are way off what oil is selling for now. Were all still getting screwed and its like people just dont care, they have just gotton used to the high prices. Now the oil companies can get the oil cheaper and still sell it to us for more.
whats really funny was a month ago wall street made it sound like the world was gonna run out of oil by next year, now we got to much oil and natural gas, lollllllllllllllllll.
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To remove first post, remove entire topic.
the runup, yet gas prices are not even close to what it was then. Its one thing to have alittle difference, but the gas prices are way off what oil is selling for now. Were all still getting screwed and its like people just dont care, they have just gotton used to the high prices. Now the oil companies can get the oil cheaper and still sell it to us for more.
whats really funny was a month ago wall street made it sound like the world was gonna run out of oil by next year, now we got to much oil and natural gas, lollllllllllllllllll.
I would say that is quite a stretch. The last time oil was near $100 barrel was April. The national average price of gas now is in the low $3.60's and the national average price of gas back in April was $3.45-$3.50ish. Prices almost always take longer to go down then they do to go up, nobody wants to take a loss on supplies they have bought unless they have to.
If you really want to talk about who has been saying we are running out of oil, you should direct your anger towards the left. They have been trying to scare people for the past 2-4 years with their "Peak oil" claims.
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"Prices are not even close to what it was"
I would say that is quite a stretch. The last time oil was near $100 barrel was April. The national average price of gas now is in the low $3.60's and the national average price of gas back in April was $3.45-$3.50ish. Prices almost always take longer to go down then they do to go up, nobody wants to take a loss on supplies they have bought unless they have to.
If you really want to talk about who has been saying we are running out of oil, you should direct your anger towards the left. They have been trying to scare people for the past 2-4 years with their "Peak oil" claims.
Were all still getting screwed and its like people just dont care, they
have just gotton used to the high prices. Now the oil companies can
get the oil cheaper and still sell it to us for more ------------ thats not even close to how it works...
oil is bought with futures contracts...oil companies, futures traders, investors, etc anticipate the price of oil 1 mo, 3 mo, 12 mo out and buy accordingly
if EVIL OIL Co. buys oil at $120 a barrel, they cant afford to sell it at less than (ex.) $3.50 a gallon...after refining, shipping, exploring, drilling, they are entitled to a little profit also...roughly 8% profit margin for all oil companies (compared to over 20% for software companies)
then they sell it to individual gas stations (very few owned by big oil...most small business guys) who make about 2-3 cents per gallon...thats it
prices will go up much quicker because of anticipation or future price increases. you are not buying gas from $100/bbl oil...you are buying from $115, 120/bbl right now. give it a few weeks and if there is sustained lower prices then gas will come down as well
0
Were all still getting screwed and its like people just dont care, they
have just gotton used to the high prices. Now the oil companies can
get the oil cheaper and still sell it to us for more ------------ thats not even close to how it works...
oil is bought with futures contracts...oil companies, futures traders, investors, etc anticipate the price of oil 1 mo, 3 mo, 12 mo out and buy accordingly
if EVIL OIL Co. buys oil at $120 a barrel, they cant afford to sell it at less than (ex.) $3.50 a gallon...after refining, shipping, exploring, drilling, they are entitled to a little profit also...roughly 8% profit margin for all oil companies (compared to over 20% for software companies)
then they sell it to individual gas stations (very few owned by big oil...most small business guys) who make about 2-3 cents per gallon...thats it
prices will go up much quicker because of anticipation or future price increases. you are not buying gas from $100/bbl oil...you are buying from $115, 120/bbl right now. give it a few weeks and if there is sustained lower prices then gas will come down as well
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