>The news is saying the price of gas is going to go up a whole 25 cents over the next week. Can someone tell me what I can do to stop this? I suppose I could write to each and every representative in Congress asking them to please investigate this madness. But will they even read the letter much less do anything about it?
I guess I could just stop leaving the house altogether, but then I would lose my job. Eventually get kicked out of it anyway since I wouldn’t be able to pay the rent. I can’t carpool. No one works near me who lives in my neighborhood. Besides, I really don’t feel like getting to know my neighbors.
The media doesn’t help this whole gas crisis thing. They just make it worse and worse telling us all how high gas is going, never figuring out why such a thing is happening. Isn’t that why journalists do? Figure out why something is happening?
>I can tell you why this is happening. When the price of oil goes up, Exxon and the rest of the oil industry make more money. With Iraq not pumping as much oil because of the war, among other factors, the price has gone up because of demand not actual cost to the oil industry. That means every time the price of a barrell of oil goes up, it’s all profit since they aren’t inccurring any additional expense.
Example: Let’s say a barrell of oil cost Exxon $10 last year and they sold it for $30. Well, it still costs them $10 to make a barrell but now they can sell it for $50 and make an additional $20 profit because of market value. That’s a huge markup.
One way to get your money back is to buy Exxon stock. Last time I looked it was up almost 100% since Bush took office. It will probably keep going up, too, for at least the next four years. Buy now, sell at a profit in a year or two and you will have some extra gas money.
The only other alternative is to elect a president that isn’t owned by the energy industry.
>Hey! According to you stat counter, I was your 1,000th hit. What do I win???
>You get the honor of being part of such a wonderful piece of literature. All kidding aside, I can’t believe it’s up that high?
It’s probably from me obsessively refreshing to see if the pictures came out the right way or if any one put a comment.
Well, I didn’t vote for Bush. But, I think the “if you can’t beat them, join them” thing might be the way to go. It’s all about Running with the Devil, I guess.
I drive by a Valero station every day and it has gone up $0.20 just in the past 10 days. I’m thinking of creating a photo diary of how often that sign changes.
>Several issues are going on here.
1) Demand has gotten such that our ability to refine oil into gas is stretched. When I refinery goes down for maintenance or whatever, we feel it immediately because it creates an immediate shortage of refined petroleum. Price is what brings demand back down to meet supply.
2) On the world crude market, the price has been going up and up. Expect that to also continue as world demand is going through the roof as both China and India (who together make up about 37% of the world population) have a rapidly increasing appetite for oil.
Face it, world old prices are way above where they have historically been, but they aren’t going to see that sub $20 a barrel again price in the foreseeable future.
In short, get used to it. Gas prices will probably come back down again, but not by a lot.