Do you believe the oil companies are ripping us off with high gas prices?

Gas prices are a rip off but it has not yet stopped me from making a drive out to the strip clubs.

Houston texas is strongly tied to the oil companies so if the oil companies are raking in extra billions I am guessing some of that will trickle down on the houston strippers.

So, if strippers want to save money will they let me drive them home?

Sure, SuperDude. If there are any more than the one that you drive home, let us know. Gas prices will go up, that's for sure and they are a ripoff.

Take a look at the breakdown of that $3-4 you pay for a gallon. You might be surprised.

Most gas stations are corporately-owned -- the independents have been squeezed out. Their prices are set by ownership, and are traditionally set at 75 cents higher than the futures' price. A couple of summers ago, when the price hit $4.50 a gallon in many parts of the U.S., it was divulged the coporate central offices require their affiliates to set their retail price one penny above what they tell them to when the price is increasing. HOWEVER, when the price is falling, there is no such mandate. Thereby stations cut the price at different rates because they can pocket the extra amount.<p>

If you want someone to harpoon, look no further than Ben Bernanke, chairman of the Fed. His playbook has been to through the dollar to the wind in order to bailout the financial misdeeds of Wall St. Investors know this and have been front-running Bernanke the entire time. Hence commodities (oil and gas, food, etc.) have been attractive investments because of a falling dollar. Casualties have been regimes in Egypt and Tunisia as food prices have doubled yet the poor haven't experienced income growth.<p>

Barry Ritholtz, author of Bailout Nation, has tracked basically all of the misbehaviors of the recent financial crisis and I posted one of his blog posts in TUSCL's blog section. Sadly no one seems to have cared enough to read it.<p>

Enlighten us please, Clubber. What's the breakdown?

Yes, they Are ! and a Good rant is always welcome But there needs to be some more god damn ,Cock Sucking,Shit Stain Have'n Sum Bitches Involved. Hell, I Remember Pay'n 99 cents for Diesel in 2002

If you want lower prices, stop buying gas wasting SUV's and reduce your consumption.

It is my belief that a primary cause of rapid price increase is due to futures trading. What needs to be done is to increase margin requirements on trading, it would have a significant impact on demand.

so where are all the whiners and screamers that were blaming bush, cheney, and their oil buddies a couple years ago? you don't hear a peep from them now that their guy is in the whitehouse, the silence is deafening!

Raising margin requirements would be a speed bump as they were for gold and silver. The real reasons oil and gas keep rising are:

- increased projected demand as the world pulls out of recession
- continuing growth of emerging economies and
- devaluation of currencies due to printing of money.

Of course, maybe if txtittyfan just has a positive enough attitude about raising margin requirements that would be enough to bring the price of oil under control... NOT!

You guys are late. I learned all of this from Candi at Tycoons in Detroit last month.

Ever notice how if you look at certain storage tanks sitting side by side, they kind of look like large breasts?

Hey guys, it could be worse,,over here we pay the equivalent of $9-$10 a gallon. I filled up the other day, needle was in the red, cost me $135 give or take.

Let's not forget the 100% profit that our government takes. It's the Dems in particular who have said they want to see the price shoot up to $5/gallon. They think this will cause people to drive less...yeah...cause people wont have jobs to drive to or money to spend on anything other than the very basics needed for survival....there goes your trips to the clubs.

Everyone complains when they think that some group is making too much profit! What BS! The government is making 100% profit off of us and giving us very little in return. Meanwhile, we bitch about companies that hit it big. Nobody forces you to purchase products (Except for healtcare coverage NOW) so if you don't want to spend the money...DON'T. Driving a car is not some god given right...neither is driving a big SUV (as I do). I made a choice as to how far I live from work and what kind of car to drive. If I gave a shit more about gas prices and windfall profits for big oil, I might move closer to work and buy some high efficiency car...but I don't. And screw the environment...it was here before human technology and it will be here after.

</end rant>

londonguy sorry to hear that...maybe the public transportation is better in the UK than in the US?

I don't think I've ever heard anybody cheering for $5 gas. I don't see where the government is making profits off of oil. I did see the quarterly profits for Exxon/Mobil--I do believe those guys are making some coin. The Democrats are smart enough to know that higher gas prices are not a good thing for the overall economy because this economy depends so heavily on fossil fuel--still!--and they are smart enough to know that gas price hikes hurt them politically. So I don't see them cheerleading at all. But we do need to wake up and develop alternatives or the oil-producing nations will continue their stranglehold on our testicles. Something that no one particularly likes, no matter what party you are.

The Democrats are smart enough to know that higher gas prices are not a good thing for the overall economy because this economy depends so heavily on fossil fuel--still!--and they are smart enough to know that gas price hikes hurt them politically.

^^
lol, are you trying out your comedy routine here before you take it on the road? that truly is looney!
check out some of algore's (the dem's sweetheart) ramblings about future gas prices.

Whatever happened to Al? Don't hear much about the loser these days.

samsung, not too bad at off peak times travelling between major cities, during peak time or anywhere else it's terrible or non-existant. Too expensive at any time as well.

vm,

I haven't looked at it in some time, but the largest single part was taxes. Might be different now. Also, as I understand it, the oil company profit is not out of line with what other companies make, by percentage. Of course on their volume, you get the easily misrepresented 10 billion dollar profit headlines.

I may take the tie to see if I can get a current breakout, but I would bet it hasn't changed much, other than the tax part.

I thought federal taxes were a fixed amount per gallon, not a percentage of....what?

BHO said he wanted higher gas prices, gradually.
Also, he shut down drilling in the Gulf. A judge revoked the ban as unlawful, but he has kept it. Contempt of court, but he does not care.

Al Gore had a hand job problem in Portland...

Most recent data I found, from the DOE.

* Taxes: 15%
* Distribution and Marketing: 11%
* Refining: 7%
* Crude oil: 67%

Profit is a part of the Distribution and Marketing: 11%. Now, because of stupid energy regulations in this country, our crude price is VERY inflated. So it looks to me like TAXES are a much higher percentage than profit, which is usually at about 9% of the total.

So, sh, perhaps your question should read "Do you believe the governments are ripping us off with high gas prices? I do!

Yeesh. Maybe we need to return to talking about T&A. I don't think Al Gore occupies any elected office right now. We have cheaper gas than many other industrialized countries, but we are hooked and the dealers know it. If anybody wants to eliminate the tax on gas I suppose we can then try to drive around on footpaths or something. The tax is dedicated to roads, guys. Troop, I didn't get a woodie watching Gore's movie. I haven't watched it in fact. There is a difference between warning that the price of gas will skyrocket due to over-demand and under-supply and hoping that it happens. I'll try to steer the car back on the road and not veer through the guardrail into teabagger land. Oh, and did you hear that Obama wasn't even born here? I think I'll go back to talking about tips and g-strings myself. I'll leave the finer points of the global energy infrastructure to the esteemed panel of experts here.

farmerart can't let this bullshit topic pass. Oil companies are price takers NOT price makers. The market (and government interference) always sets prices. If you don't like gasoline prices, change your lifestyle. Buy a fuel efficient vehicle. Use public transit. Cycle. Walk. Don't want to do any of that? Quit whining then!

clubber gave a breakdown of what retail gasoline prices include in US. I can tell you that in Canada that the various governments' take is about 60% of the retail price; the remainder goes to the oil companies. Before I left for my winter vacation the price at my local service station was the equivalent of approx. US$3.80/gal. Here in Aberdeen, Scotland the price is approx. $8.60/gal. At my place in Saint Raphael, France - approx. $8.00/gal.

Life could be worse. Another thought. What other LIQUID do you purchase in retail quantities that costs LESS per gallon than gasoline? SC drinks perhaps??

I should be complaining more about getting ripped off by strip clubs with beer that costs between $4 to $5 a bottle. I can buy a whole 6 pack at the store for not much more. However I guess that price increase was more gradual over the years. I still don't like it. I've cut back on drinks and I cut back on driving years ago, moved closer to work, and bought a fuel efficient vehicle. However I still like to complain when I see pricing abnormalities in the market. The oil ETF I've been watching went up today even though it's still down almost 13% year to date. Gas prices are being driven up by the oil companies claiming refinery maintenance is needed. However I'm not an expert except when it comes to complaining when I feel like it. :)

What the next topic, the boobs just aren't natural?

Fuck the oil companies. Do they make lube?

^^^^
Damn right we do, gatorfan!

Hydrocarbons are magical. You wouldn't believe the products that come from the muck I spent most of my life finding and producing!

You mean I can get money for my gas? Where do I sign up? I should be able to retire this year.

gmd,

Actually, what you mention is a reality in South Florida. They have "stations" located in many retail stores and malls that one can visit and fart into a funnel type apparatus. Your methane amount is measured and you are paid by the machine. As I recall, the latest payout was something like $.50 per cubic liter.

Clubber: Why do I read that with a *complete* lack of surprise? I presume one doesn't have to undress to contribute? Out of curiosity, what is the size of the average contribution?

Dman I knew I had been giving the sex away for free for a long time but now I find out that I could have gotten paid for farting. This is just too much.

gmd,

I take it you've never hung around a bunch of old people like on Miami Beach.

Clubber: Nope, though now that I'm entering the range my daughters describe as "ancient", I expect that'll change. :)

gmd,

You do understand there are no such "stations" in South Florida, right?

I do now. :)

Might not be a bad idea, but I can't imagine needing to cut one, yet holding it till you could get to a "station".

Surely there is a lot of speculation driving oil & gasoline prices. FWIW, many gas stations claim that they have to raise their prices right along with everyone else in the surrounding area because they need to be sure to have enuff cash on hand to make their next gasoline purchase.

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"If you want someone to harpoon, look no further than Ben Bernanke, chairman of the Fed. His playbook has been to through the dollar to the wind"

Sorry, but this country has had a horrible fiscal & monetary policy long before many people even knew who Bernanke was.

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"so where are all the whiners and screamers that were blaming bush, cheney, and their oil buddies a couple years ago?"

LOL...well getting us involved in an unnecessary War in Iraq, rampantly deregulating markets, and subsidizing huge vehicles higher than hybrid vehicles under GWB certainly didn't help this situation out much:

http://en.wikipedia.org/wiki/File:Oil_Pr…

Recent demand for gasoline has still been roughly at 2004-05 levels, yet prices are roughly at 2006-07 levels...hmmmmm...

http://images.gasbuddy.com/images/blogim…

The USA consumes more oil right now than Japan & ALL of Europe *combined*, and India & China combined only consume less than half of what we do right now. China can produce around half of what they use daily, while we can only produce around a third of what we use daily.

The idea that all those people in India & China are going to have at least one car per household (like we basically do here in the USA) at some point is just silly. Have you even been to these countries?? They don't have the need or the infrastructure for that. The modes of transportation that they choose tend to be small (small cars - India came up with one of the smallest cars ever produced recently, motor-scooters, etc.), public (trains, buses, etc.), and non-oil consuming (bikes, walking, etc.).

The roughly 2.5 billion people in China & India use only half as much crude oil as we Americans do. The average person in China consumed less than 20% as much energy as the average American in 2005, according to U.S. Energy Department. In India, energy use is less than 10% of America on a per-capita basis.

India & China don't have the road infrastructure that the USA does. China & India combined have a loooong way to go before they come anywhere near what we consume in the USA. Heck, apparently India (for some strange reason) was recently exporting more oil than China had been. IMHO, the world's oil supply will have run almost dry before those two countries ever come close to being the oil hog that the USA is right now.

China's recent increase in oil (over 2 years - 2005-07) use went up by less than 5% the amount of oil that we use in ONE DAY in the USA. China has less than 36% of the maximum refining capacity of the USA.

Whenever you hear someone try to blame rising oil prices on China, India or the like...remember the above facts!

https://www.cia.gov/library/publications…

https://www.cia.gov/library/publications…

http://www.nationmaster.com/graph/ene_oi…

http://www.eia.doe.gov/emeu/aer/txt/ptb1…

http://netoilexports.blogspot.com/2008_0…

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"Let's not forget the 100% profit that our government takes. It's the Dems in particular who have said they want to see the price shoot up to $5/gallon."

Not true at all. State & federal excise taxes on gasoline account for around 13% of the average price per gallon of regular gasoline sold in the USA. Since state & federal excise taxes on gasoline are generally fixed at a certain number of pennies per gallon, as the price of gasoline rises, the percentage paid in excise taxes actually goes DOWN.

http://tonto.eia.doe.gov/oog/info/gdu/ga…

http://tonto.eia.doe.gov/oog/info/gdu/ga…

"If I gave a shit more about gas prices and windfall profits for big oil, I might move closer to work and buy some high efficiency car...but I don't. And screw the environment...it was here before human technology and it will be here after."

LOL...I think we just saw an example of the problem at hand...ugh...

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"BHO said he wanted higher gas prices, gradually."

Nope.

"Also, he shut down drilling in the Gulf. A judge revoked the ban as unlawful, but he has kept it. Contempt of court, but he does not care."

Wrong again. They are unfortunately handing out oil drilling permits in the Gulf of Mexico again.

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"Oil companies are price takers NOT price makers."

LOL...come on now, we've already seen oil companies being caught red-handed colluding (even up in Canada!) on price fixing...please...

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Here are some great sites to try & save on gasoline:
http://gasbuddy.com

http://www.gaspricewatch.com/new/default…