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Old 02-23-2012, 08:47 AM
 
15,881 posts, read 14,529,165 times
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Given the fact that a lot of companies are investing a lot of money in doing just that, this can't be true (especially at 100/bbl.)

Quote:
Originally Posted by ScoopLV View Post
it costs more to get our oil out of the ground than the oil is worth.
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Old 02-23-2012, 09:10 AM
 
Location: Las Vegas, NV
2,990 posts, read 8,723,364 times
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Quote:
Originally Posted by ScoopLV View Post
Or there's CNG, which has been at $2.50 per gallon equivalent since the day I bought the thing. I pay $40 per month for (methane) gas.
I'm really sold on CNG, but it seems like the public wouldn't be interested in that technology. Its already used around the world and its a very clean fuel to burn. If it does catch on, they would probably tax the crap out of it and it would cost almost as much as gasoline to the consumer. I almost bought a CNG civic a few years back but the deal fell though.
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Old 02-23-2012, 09:10 AM
 
Location: Beautiful Upstate NY!
13,813 posts, read 28,536,967 times
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IMO, the prices will keep rising all the way up to the election. The oil companies don't want Obama in control...and nothing will hit the election box harder than overpriced gas.
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Old 02-23-2012, 09:22 AM
 
Location: North Las Vegas
1,631 posts, read 3,956,624 times
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I heard on the news today gas will be going up 20 cents in Vegas over the weekend.
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Old 02-23-2012, 09:29 AM
 
Location: Lancaster, CA / Henderson, NV
1,107 posts, read 1,423,205 times
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I believe that the USA is now a net exporter of oil.

Why bother keeping it for ourselves when we can make more money from it on the worldwide market?
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Old 02-23-2012, 09:46 AM
 
11,178 posts, read 16,051,859 times
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Quote:
Originally Posted by C_A_Braun View Post
I believe that the USA is now a net exporter of oil.
Not quite.

We're an importer of oil, but a net exporter of refined petroleum products (gas, jet fuel, etc.).
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Old 02-23-2012, 11:29 AM
 
10,494 posts, read 27,286,426 times
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Quote:
Originally Posted by delgadobb View Post

Better yet, we could adjust our habits to not be so dependent on foreign oil. For all the talk about the economy & how tough things are in Las Vegas, I see a LOT of SUVs in this town. People want their toys but then complain when they get expensive
Exactly, and the people driving big vehicles are always the biggest complainers when gas goes up. Gas needs to go to $5 a gallon for people to change their habits because they will not do it on their own.
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Old 02-23-2012, 11:31 AM
 
Location: Las Vegas
542 posts, read 987,960 times
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Quote:
Originally Posted by hannaranch View Post
We might be able to keep the price down if we would drill. We have lots of oil to keep us going for years. If we continue to listen to the enviromentalist, we will be paying $9 a gal. Drill and get rid of the Middle East, sounds good to me!
This is just a product of mis-information. The US has more gasoline than we can even use.





The US now exports more gasoline than we even use. The reason the price goes up is this:

We (The US) used to be the only "Demand" in the "supply" chain, but now, with oil companies selling the gasoline to the rest of the world, there is a LOT more demand for gasoline. They are pricing our gasoline to compete with what they are selling it for across the world.

Crude oil is a commodity. Its price is set across the globe. Even if we did "drill baby drill", the price of that oil is unaffected. A barrel of oil from Iraq is worth exactly the same amount as a barrel of Canadian oil, or US oil, or Saudi Arabian oil.

That's why the price of gas really has nothing to do with the price of oil (Well, not directly). Oil companies sell gasoline based on "supply and demand". Selling gasoline to the entire world brings up incredible demand for their gas, while their supply stays about the same (We haven't built an oil refinery here in the US in 25 years), thus making the price go up. The cold hard truth is, America's demand for gasoline has been going DOWN the last few years....meaning the price SHOULD go down (Less demand = more supply= lower price), but the price keeps going up

Gas, other fuels are top U.S. export

**EDIT TO ADD MORE**

Also, what countries supply the most oil to the United States?

#1.... The United States. We supply 60% of our own oil.
#2.... Middle East? Nope.... Canada.
#3.... Middle East? Nope.... Mexico.
#4.... Saudi Arabia! The one Middle East country NOT at war.

http://www.energyrefuge.com/archives...comes_from.htm

Last edited by m73m95; 02-23-2012 at 11:40 AM..
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Old 02-23-2012, 01:24 PM
 
12 posts, read 17,731 times
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I read something interesting regarding oil prices this morning.
Blame Oil Speculators, Not Obama, For Rising Oil Prices | ThinkProgress
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Old 02-23-2012, 01:36 PM
 
10,494 posts, read 27,286,426 times
Reputation: 6718
Quote:
Originally Posted by GorillaKnights View Post
I read something interesting regarding oil prices this morning.
Blame Oil Speculators, Not Obama, For Rising Oil Prices | ThinkProgress
From reading that link, it looks like that site is a bs liberal propaganda machine. The prices going up have little to do with oil speculators, but more so due to the federal reserve's reckless money printing.

The real reason gas prices are going up is here:

Gasoline Prices Are Not Rising, the Dollar Is Falling - Forbes
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