Gas prices expected to soar past $3/gallon

the eco terrorists want cleaner power, yet hate nuclear power (which is safer and less toxic than coal plants etc that are still being used today)... once people get their heads on straight maybe we can move forward.

I drive a Ford F-150 SuperCab. It has a 5.4 liter V-8 with a thirty gallon tank.

You do the math.

I wish the Iraq war WAS for oil.

yeah, the prices around me finally eclipsed $3/gallon (www.[yourstate]gasprices.com)

guess Dubya tapped the reserves a little too late...

:vomit-smi this sux, I would have filled up sunday if I had known it would get this bad this quickly. I got a bit of gas sunday @2.49, drove by the same station on the way to work and it was 2.89, and then on my way home it was freakin 3.19!!!! I remember filling up my tank 4-4 1/2 years ago I could fill up my tank for about $10. I'm just glad I don't have a gas guzzler right now, lol.

The argument that eco-terrorists are responsible for limitations in US oil refinement capacity is insipid. While its true that most Americans - eco-terrorists if you prefer - do not desire a refinery in their backyard (indeed, new projects have met predominantly local opposition) the Big-Five oil companies are equally reluctant to open new refineries. The reason? The status quo situation is such that, absent extant oil reserves, supply shocks artificially spike oil's market value by impeding demand. While this is bad for us, it is very, very good for the oil companies' profit lines. If you don't believe me, see a 2001 FTC report which inidicated just this: that the big five had artificially inflated prices by intentionally keeping refinement capacity low.

But more problematically, the argument for increased refining activity presumes oil supplies capable of keeping up with global demand, which they won't be able to. This is extreme myopia. Global oil consumption is predicted to jump about 40 percent over the next twenty years, at a time when Saudi Arabia will realize its peak production capacity. You should really read the stuff Houston energy investment banker Matt Simmons is writing about this right now. Pretty compelling...

Were getting accused of being an imperial power out for oil. I say let's prove them right and start stealing Iraqi oil. J/K

The argument that eco-terrorists are responsible for limitations in US oil refinement capacity is insipid. While its true that most Americans - eco-terrorists if you prefer - do not desire a refinery in their backyard (indeed, new projects have met predominantly local opposition) the Big-Five oil companies are equally reluctant to open new refineries. The reason? The status quo situation is such that, absent extant oil reserves, supply shocks artificially spike oil's market value by impeding demand. While this is bad for us, it is very, very good for the oil companies' profit lines. If you don't believe me, see a 2001 FTC report which inidicated just this: that the big five had artificially inflated prices by intentionally keeping refinement capacity low.

But more problematically, the argument for increased refining activity presumes oil supplies capable of keeping up with global demand, which they won't be able to. This is extreme myopia. Global oil consumption is predicted to jump about 40 percent over the next twenty years, at a time when Saudi Arabia will realize its peak production capacity. You should really read the stuff Houston energy investment banker Matt Simmons is writing about this right now. Pretty compelling...

thats why nuke plants would help, but the greens dont like them either... talk about a catch 22... either way, oil isn't the problem, we still got plenty of oil, its refined fuels.

The oil rigs can be back up and pumping in weeks, the refineries can't be functional in nearly the sasme timeframe. Maybe the oil companies don't like it, but i'm sure there's plenty of people (energy companies etc) with enough money that would be willing to invest in building more refinery capacity if the government cleared the red tape for them. The profit margin is pretty good...

thats why nuke plants would help, but the greens dont like them either... talk about a catch 22... either way, oil isn't the problem, we still got plenty of oil, its refined fuels.

The oil rigs can be back up and pumping in weeks, the refineries can't be functional in nearly the sasme timeframe. Maybe the oil companies don't like it, but i'm sure there's plenty of people (energy companies etc) with enough money that would be willing to invest in building more refinery capacity if the government cleared the red tape for them. The profit margin is pretty good...

See, the profit margin isn't good at all, because greater refinement capacity lowers the market price of oil. So logically companies don't want to invest millions in unpopular facilities that DEVALUE THEIR PRODUCT! Makes sense.

The gas prices went from $2.62 to $3.42 in less than 3 days where I'm at. I think it's time for the bicycle.

See, the profit margin isn't good at all, because greater refinement capacity lowers the market price of oil. So logically companies don't want to invest millions in unpopular facilities that DEVALUE THEIR PRODUCT! Makes sense.

no it doesn't... first off, non oil companies can make refineries. More refineries means higher demand for crude oil, and a higher supply of processed fuels.

Since a refinery deals with processed fuels, and doesn't necessarily have anything to do with the extraction of oil (beyond buying it at market price) they wouldn't be devauling their own product anymore than any other commodity in existance (like, say corn, steel, or aspirin). As long as you can get the efficiencies to work so you make a profit after costs, there's no problem.

By your example we'd only have 2 corn farms in america so they could charge 20$ an ear, but guess what? that'd make absolutely no sense.