does anyone have the answer to gas prices
06-13-2008 | 09:48 AM
#22
with the up coming election all we here is what do we do about heath care and imigration. **** that **** i dont give a ****. why dont obama and mccain talk about what the american people really care about and whats hurting our economy sooooo bad.
06-13-2008 | 11:23 AM
#26
Staging Lane
Joined: May 2008
Posts: 75
Likes: 0
From: CharlesTown WV
(BTW the Chysler 300 is the biggest POS I have ever driven)
06-13-2008 | 11:26 AM
#27
Launching!
Joined: Feb 2007
Posts: 262
Likes: 6
From: Nebraska
I guess this is a good thread to spill what I've read on some Government (.gov) sites. I originally sent this to my Mom heh
f you didn't know, which I'm sure you do, we have a Oil Reserve to prevent a crisis like the Oil Embargo that happened eons ago. Was tapped into it during Gulf War and Katrina, but only slightly (2-5% of total reserve). Also, 1 million barrels of oil produces 32 million gallons of gas and diesel. Refiners acquire oil @ $2.40~/gal. They sell to wholesaler's @ $2.80~/gal, then they sell to retailers @ $3.65~/gal and we buy it @ $3.80~/gal. (As of May/08, prices are approximate). At the beginning of May a barrel cost $108.98, but Refiners only paid $100.80 according to the price/gal they buy it at. So that all equates to us paying way too damn much extra than we ever should.
Now, back to the reserve part : We currently have 704 million barrels of oil in the reserve, and haven't had a withdraw since Katrina. We consumer roughly 9.45 million barrels (396.4mil gal) of Gas/day. We can make 48.43gallons of product from the 42gallon barrel of crude oil, of which 51.4% of that is gas. So 25 gallons of gas and 7 gallons of diesel (among another grip load of usable products) per barrel of oil, hence that 35 above. So if they just borrowed 100 million barrels of oil, we'd get 3.5billion gallons of gas.
f you didn't know, which I'm sure you do, we have a Oil Reserve to prevent a crisis like the Oil Embargo that happened eons ago. Was tapped into it during Gulf War and Katrina, but only slightly (2-5% of total reserve). Also, 1 million barrels of oil produces 32 million gallons of gas and diesel. Refiners acquire oil @ $2.40~/gal. They sell to wholesaler's @ $2.80~/gal, then they sell to retailers @ $3.65~/gal and we buy it @ $3.80~/gal. (As of May/08, prices are approximate). At the beginning of May a barrel cost $108.98, but Refiners only paid $100.80 according to the price/gal they buy it at. So that all equates to us paying way too damn much extra than we ever should.
Now, back to the reserve part : We currently have 704 million barrels of oil in the reserve, and haven't had a withdraw since Katrina. We consumer roughly 9.45 million barrels (396.4mil gal) of Gas/day. We can make 48.43gallons of product from the 42gallon barrel of crude oil, of which 51.4% of that is gas. So 25 gallons of gas and 7 gallons of diesel (among another grip load of usable products) per barrel of oil, hence that 35 above. So if they just borrowed 100 million barrels of oil, we'd get 3.5billion gallons of gas.
From what i've read, we get the largest percentage of our oil from Canada and Mexico...yes they're prices reflect what opec (mid-east countries) is doing. unfortunately there isn't much of a short term answer because new oil wells and refineries take 5-10 years to build. a large part of the problem is the fact that oil companies aren't allowed to drill of the coast or in ANWR. I think, just a hypothesis, that if the leaders of the opposition, Harry Ried and Diane Feinstein, would say that they are considering letting American companies to drill in those places, the price of oil would go down a little, and if they actually passed a bill to allow drilling the price would drop even more(even though it will take 5-10 years to get the first drop of gas to the pump). Again just a hypothesis. Also, we need to start building nuclear power plants! for heavens sake, even france is 70% powered by nuke energy!!!
In conclusion, the federal government needs to get out of the way of American ingenuity.
Last edited by gallardo259; 06-13-2008 at 11:34 AM.
06-13-2008 | 11:37 AM
#28
Launching!
Joined: Apr 2008
Posts: 201
Likes: 0
On a bit of a positive note, the Canadian Government is working on developing ways to make use of the oil in the Alberta Oil Fields strictly for North American Use. With the current pinch, it has become apparent that we will need to rely on our own resources, and extraction and refining of the Alberta Oil Fields resources is becoming a mainstream topic here. There is enough oil in Alberta to fuel North America for decades!
In the meantime, I just paid $1.61/Litre for 93 ($1.61/litre = $6.12/gallon!!!
)
In the meantime, I just paid $1.61/Litre for 93 ($1.61/litre = $6.12/gallon!!!
)
06-13-2008 | 11:43 AM
#29
On a bit of a positive note, the Canadian Government is working on developing ways to make use of the oil in the Alberta Oil Fields strictly for North American Use. With the current pinch, it has become apparent that we will need to rely on our own resources, and extraction and refining of the Alberta Oil Fields resources is becoming a mainstream topic here. There is enough oil in Alberta to fuel North America for decades!
In the meantime, I just paid $1.61/Litre for 93 ($1.61/litre = $6.12/gallon!!!)
In the meantime, I just paid $1.61/Litre for 93 ($1.61/litre = $6.12/gallon!!!
)
06-13-2008 | 12:08 PM
#31
TECH Junkie
Joined: Dec 2005
Posts: 3,092
Likes: 8
I don't see any relief in sight. We have been banned or filibustered from increasing fossil fuel supplies and nuclear power. The greens wants us to use solar, wind and other alternate energy sources such as corn. Problem with those is the production and technology is not there and probably years away from producing results that we need. You can see what corn for fuel has done. Raised food prices.
So IMHO opinion we are screwed. We can increase our fossil fuel production but that will take some time and with the lawsuits by the greens it will take even longer. I don't see anything good out of this and more hard times ahead. Rising transportation costs, job layoffs and so on.
Those of you who want to blame Bush, Chenny, Haliburton or whatever you're favorite talking point is need to get your heads out of the sand. Strickly a case of supply and demand. Make that a world wide demand.
So IMHO opinion we are screwed. We can increase our fossil fuel production but that will take some time and with the lawsuits by the greens it will take even longer. I don't see anything good out of this and more hard times ahead. Rising transportation costs, job layoffs and so on.
Those of you who want to blame Bush, Chenny, Haliburton or whatever you're favorite talking point is need to get your heads out of the sand. Strickly a case of supply and demand. Make that a world wide demand.
06-13-2008 | 01:11 PM
#33
although that sounds like a lot of gasoline, that 'borrowed 100 million barrels' would only last 8.8 days or 74.5 days if we used the whole reserve. if we used 1 million barrels from our reserves per day, that would cover 10.6% of our daily demand and our reserve would last nearly 2 years. perhaps it would be part of the answer to the problem, but not the whole answer.
From what i've read, we get the largest percentage of our oil from Canada and Mexico...yes they're prices reflect what opec (mid-east countries) is doing. unfortunately there isn't much of a short term answer because new oil wells and refineries take 5-10 years to build. a large part of the problem is the fact that oil companies aren't allowed to drill of the coast or in ANWR. I think, just a hypothesis, that if the leaders of the opposition, Harry Ried and Diane Feinstein, would say that they are considering letting American companies to drill in those places, the price of oil would go down a little, and if they actually passed a bill to allow drilling the price would drop even more(even though it will take 5-10 years to get the first drop of gas to the pump). Again just a hypothesis. Also, we need to start building nuclear power plants! for heavens sake, even france is 70% powered by nuke energy!!!
In conclusion, the federal government needs to get out of the way of American ingenuity.
From what i've read, we get the largest percentage of our oil from Canada and Mexico...yes they're prices reflect what opec (mid-east countries) is doing. unfortunately there isn't much of a short term answer because new oil wells and refineries take 5-10 years to build. a large part of the problem is the fact that oil companies aren't allowed to drill of the coast or in ANWR. I think, just a hypothesis, that if the leaders of the opposition, Harry Ried and Diane Feinstein, would say that they are considering letting American companies to drill in those places, the price of oil would go down a little, and if they actually passed a bill to allow drilling the price would drop even more(even though it will take 5-10 years to get the first drop of gas to the pump). Again just a hypothesis. Also, we need to start building nuclear power plants! for heavens sake, even france is 70% powered by nuke energy!!!
In conclusion, the federal government needs to get out of the way of American ingenuity.
And yet China has a oil rig just 50 miles off the coast in the Gulf of Mexico
06-13-2008 | 01:52 PM
#35
I have no clue who really run's and change's these price's. But setting on our ***'s ain't gonna help us. We need to show these company's we can do something. If we just keep accepting them, it's just goes to show them how much farther they can push us. americansolutions.com I put my signAture up everone else should to!!!!!!!! it sound like they need to cut out the whole sellers or the middle man
06-13-2008 | 01:55 PM
#36
Havent we been paying less for gas that alot of countries for quite a while? Heres a good read http://articles.moneycentral.msn.com...sABargain.aspx
06-13-2008 | 02:05 PM
#37
that article sucks. It state's nothing but a few proposal's and idea's someone had. Doesn't say who why or when. I belive thAt topic was started to make us feel better about our price's and nothing more
06-13-2008 | 02:23 PM
#38
Yeah Ive been looking into a nice 600cc bike, but the wife is getting a bit annoyed with all the cars. Got the Camaro, our Chrysler 300, 93 Cobra Mustang, her Saturn and my DD Jetta. So a bike at this point might = divorce lol
(BTW the Chysler 300 is the biggest POS I have ever driven)
(BTW the Chysler 300 is the biggest POS I have ever driven)
06-13-2008 | 02:23 PM
#39
It is probably true though, we could have been paying a higher price years ago. Short term solutions arent going to help us that is why I dont see the point in drilling in alaska, its not a permanent solution and alot of that oil IMO will end up in other countries. Everyone midas well get used to the prices I dont think they will ever come down. I drive for a living and I havent seen a slow down in traffic at all so a large majority of people must not be that bad off as some are.
