quityerbellyachin!!!!!!
i swear i'm gonna pistolwhip the next person that complains about gas prices. it is not OPEC being greedy, or Halliburton being greedy that is causing gas prices to go up in the US. it is caused by plain and simple high school economics supply and demand laws. demand is up by large amounts due to it being summer and families are traveling, supply is down in past months due to the high demand causing our refineries to fail. 4 of our 10 large refineries in the US had to at least partially shut down production in the past month for repairs. simple.... demand up, supply down, cost up.
and just to put it in perspective, not only do we pay about half of what europeans pay per gallon at the pump, but gasoline is one of the cheapest fluids in the US market. even after the $75 million (avg.) spent per oil well associated with getting oil out of the ground, and refining it, and transporting it, gas is still only $2.50 a gallon. for comparison:
- Diet Snapple 16 oz for $1.29 = $10.32 per gallon
- Lipton Ice Tea 16 oz for $1.19 = $9.52 per gallon
- Gatorade 20 oz for $1.59 = $10.17 per gallon
- Ocean Spray 16 oz for $1.25 = $10.00 per gallon
- Quart of Milk 16 oz for $1.59 = $6.32 per gallon
- Evian (water) 9 oz for $1.49 = $21.19 per gallon
- STP Brake Fluid 12 oz for $3.15 = $33.60 per gallon
- Vicks Nyquil 6 oz for $8.35 = $178.13 per gallon
- Pepto Bismol 4 oz for $3.85 = $123.20 per gallon
- Whiteout 7 oz for $1.39 = $254.17 per gallon
- Scope 1.5 oz for $0.99 = $84.84 per gallon
posted by kyle @ 7:58 AM
4 comments
4 Comments:
That's funny, because last time I checked, ExxonMobil's profits rose by 32 percent last quarter. That doesn't sound like supply/demand to me - that sounds like profiteering off the perception that a supply/demand situation exists.
"'At $50 a barrel, oil companies are not making money, they're printing it,' said Fadel Gheit, an analyst at Oppenheimer & Co."
I'd say that I'm playing the devil's advocate here, but unfortunately, I agree with the devil.
as of the last two months, supply/demand drove price trends (summer & refineries). that is not to say that oil companies i.e. exxon, bp, shell are not having an overall effect. 23 billion is a lot of profit per year, however, people are for some reason currently buying more gas now than they were a year ago. what angers me is that ignorant people place the blame on halliburton and their army contracts. this is the best time to buy gas futures.
Personally, I'm going to blame whoever is profiting off the situation... and all I know is that ExxonMobil (and apparently Shell and BP as well) are doing so, big time. The American economy is taking a hit due to oil prices, and the oil companies should be doing their part to help out the very nation that makes them rich in the first place, rather than slyly pocketing additional profits and hoping nobody will notice.
And yes, I'm bitter because I have to fuel a goddam SUV.
trust me i hear you. $60 a fill up for me. the oil companies are making huge profits, but are using those profits to do R&D on new sources of energy so they can rape us forever. yay capitalism!!!
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