Gas prices. Are they going up?

[blackangst1]

My logic is if gas prices are raised to pay for the clean up it is basically a gas tax to pay for the clean up and I don't think I should be taxed for either lax regulations or incompetent oil companies.

you might want to read up on how commodities are priced. Hint: There's no secret gas council that has monthly meetings to "decide" what prices are

 

[JSt0rm]

you might want to read up on how commodities are priced. Hint: There's no secret gas council that has monthly meetings to "decide" what prices are

:\ right on. Hey if you cant ask stupid questions in P&N where can you ask them?

 

[dmcowen674]

Quote:
Originally Posted by blackangst1
you might want to read up on how commodities are priced.

Hint: There's no secret gas council that has monthly meetings to "decide" what prices are

[/QUOTE]

Yes there is.

 

[ShawnD1]

you might want to read up on how commodities are priced. Hint: There's no secret gas council that has monthly meetings to "decide" what prices are

opec?

 

[child of wonder]

Oil spills, gas prices, wars over oil.... meanwhile the earth is bombarded with 4 trillion terrajoules of solar energy every year which is 100% clean and free.

 

[Vette73]

Speculators have been driving oil up again recently. Demand is still down, oil reserves are high, and some refineries are even shut down or at least running much lower processing ability. Yet oil is going up for no reason. As already said this one drill SHOULD not affect prices, but will be used as a reason for it.

Now some seafoods will be affected and countries like Vietnam, shrimp, will be loving the price bump.

 

[StageLeft]

Quote:
Originally Posted by blackangst1
you might want to read up on how commodities are priced.

Hint: There's no secret gas council that has monthly meetings to "decide" what prices are

Yes there is.[/QUOTE]This is somewhat true although their power is limited or else we'd already be paying $5/gallon, right?

 

[umbrella39]

I guess my question is more: will big oil use the american consumer via gas to pay for this spill and if so do we have legal ground to tell them to fsck off.

This is much better worded.

Yes and probably No. You would have legal grounds to walk or bike instead of using their product...

 

[umbrella39]

If they are, it must be George W. Bush's fault.

Fuck off and go sit back at the kids table.

 

[WhipperSnapper]

Gas prices are going to continue to go up. The only reason they've been as low as they have for the last year or so is because of the depressed economy. Now that we're finally beginning to see a recovery you're going to see the price increase and inflation begin to tick upward as well.

I think this is pretty much the reason they dropped down for a while--slightly reduced worldwide demand.

I can't say that what the U.S. is experiencing is really much of a recovery. It's possible that we're merely reaching the next peak in the economic cycle and that it looks better than a year or two ago by comparison while the overall trend is sharply downward. (Scary thought, huh, that there really won't be a recovery and that this might be the peak in the cycle; what happens when we go into the next trough?)

Regardless of where we are in the economic cycle, the price of oil is going to have to go up simply because it exists in finite quantities but the world's population and the population of people who are consuming oil is increasing. Eventually we will begin to approach a state where the demand for oil is close to equaling or outpacing the world's ability to pump out the ever dwindling amounts of oil in the Earth's crust, a condition known as Peak Oil.

So, gas prices and the prices of just about everything else that relies on oil (such as food) are going to keep going up and it will transform our society. If the situation becomes extreme, we might even have a mass die-off.

 

[WhipperSnapper]

I guess my question is more: will big oil use the american consumer via gas to pay for this spill and if so do we have legal ground to tell them to fsck off.

This is an interesting question. It's only really BP that's been affected and not its competitors. So, if BP attempts to pass on the cost, its prices will become higher than those of its competitors and people will purchase this fungible product from its competitors. However, since the oil and gasoline markets seem to resemble oligopolies, I wouldn't be at all surprised if BP's competitors raised their prices in lockstep with BP just because.

 

[Doc Savage Fan]

If they are, it must be George W. Bush's fault.

Obama must be in bed with Big Oil just like Bush was.

 

[Docnasty]

Prices will continue to rise. The value of the dollar is going down and will continue to go down because the Federal Reserve keeps printing money and increasing the money supply. The more dollars in circulation, the less each individual dollar is worth.

Oil is traded in dollars, so when the value of the dollar goes down it takes more of them to equal one barrel of oil.

Pretty simple really.

 

[Adrenaline]

Gas prices always go up in the summertime regardless of things like this. OPEC wants oil prices to go up anyways and they are trying things each day (it seems to be nearly every day) to make prices go up a little at a time.

 

[Kappo]

My logic is if gas prices are raised to pay for the clean up it is basically a gas tax to pay for the clean up and I don't think I should be taxed for either lax regulations or incompetent oil companies.

By that same logic, you should be trying to sue everyone. EVERY company has problems that cost money and, as a result, passes the costs on to consumers. Or is the faux outrage only reserved for people who make alot of money?

Get back to us after you have sued someone for raising prices on something you aren't forced to buy or use.