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Gas prices out of control.


The Evil Genius

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wa wa. Big deal. It's going to head to $3 per gallon once the war starts and as the conversion to the summer blend limits supply for a while.

I hear Ed Begly has an electric car for you. :laugh:

Just cut down your expenses, in order to afford those high prices. Remember we are cheap compared to the rest of the world.

Eventually, it come back down- hopefully to under $1. Haven't seen those type prices in over 3 years.

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Who are you, R2000, Mr. Big Oil himself? ;)

I'm not an enemy of big business, but I do object when the oligopoly that is the oil industry ups prices without a justifiable reason of doing so. And war jitters my @ss! The supplies are fine, thank you, with or without war with Iraq.

And when you live in a city like LA where public transportation (to the extent it exists) is simply inadequate, I'll show Ed Begly where he can stick his electric car!

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Originally posted by redman

Who are you, R2000, Mr. Big Oil himself? ;)

I'm not an enemy of big business, but I do object when the oligopoly that is the oil industry ups prices without a justifiable reason of doing so. And war jitters my @ss! The supplies are fine, thank you, with or without war with Iraq.

And when you live in a city like LA where public transportation (to the extent it exists) is simply inadequate, I'll show Ed Begly where he can stick his electric car!

Why no. Just related to Shiek Big Oil and he sends me the profits. :laugh: :high:

Get a small car to go along with your gaz guzzler. No I don't have a small car or large car. Just a 2000 Subura Legacy Wagon. When it comes up to $2-only $1.79 here in Columbus- unless it went up again; I'll be out $30.

You have a president/vice president who are oil men; don't think they will here your plea.

Prices are going up:

1. Speculation over Iraq

2. Disruption of supply from Venezuela

3. Supply is tighening as the refiners shutdown and make the conversions to the enviromentally friendly blends for spring/summer.

Eventually $2/gallon will become the norm and everyone will get used to it.

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Regular unleaded is $1.88 here. The local Exxon wholesaler has said that with the price of a barrel of oil fluctuating so wildly it is hard to predict if gasoline goes up or down from here.

Rising energy consumption

Stagnant production of crude oil

Low reserves

Bottlenecks along the global supply chain

The entire world supply and delivery system is so strained that any disruption, such as a conflict or major labor action, pushes prices higher. Global consumption is rising and winter weather alone boosts the use of oil by about 1 million barrels every day.

From oil fields to refineries and shipping terminals, the global petroleum system is nearly at full capacity as it is. Around the world, stocks of reserves are low. The U.S. reserve amounts to less than a 60-day supply. Heating oil stocks are down 20 percent. Refineries are nearly running at full capacity. The United States is the world’s largest refining nation and its refineries are running at 90 percent of their capacity.

The system for shipping oil couldn’t handle much more oil, even if it was pumped and refined in a timely fashion. The price of using ocean-going tankers has doubled in the last two years, as old ships have been scrapped and new ones haven’t been built.

Broader implications

One analysis, from the American Petroleum Institute, states that if crude oil rises by $5 a barrel and stays put -- say a jump from $30 to $35 -- the Consumer Price Index, which reflects the change in prices of a basket of consumer goods, would rise by 0.3 percent.

"If the prices are sustained for more than a few months, it makes a recession more likely," says Mark Zandi, an economist with Economy.com., an economic website.

The higher prices are showing up almost everywhere - from the rising cost of heating an apartment in Boston to the amount of money it takes to ship a head of lettuce from Mexico to Chicago. Airlines and semi-operators are tacking on fuel surcharges. And, last week, some heavy-industrial businesses said they would pare back their output until prices evened out while others warned Congress that the nation could expect higher prices for products ranging from fertilizer to bathroom fixtures.

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My wife loves her Explorer and plans on driving it until the last drop of oil is gone, end of story.

I on the other hand have parked my V8 F150 and am now driving around in my little six cyl S10.

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