The other thing to consider, I've heard that every barrel of oil yields 42 gallons of gas (This may be wrong, I haven't looked into it).

However going on that basis, for every $1.00 that oil goes up, we should be looking at a $0.023 a gallon increase in gas prices.

Something tells me come year end the oil companies will be reporting record profits yet again....and just like the last 3 years the media & american public will do nothing about it.

 

And... what exactly can be done about it? This is corporate capitalism, the more money they can extract from your pocket the better off they and their shareholders are, and that's all they need be concerned about, by law. We live in a world where getting ripped off is good for the economy and makes the people at the top very happy, so don't expect the government or the people to 'do' anything about it, if anything the government will simply protect the corporations from any investigation into price fixing, as usual.

What we need to do is get ourselves off this crack they are feeding us so that it doesn't completely kill our economy when it dries up and gets really expensive. It's going to be one of the most difficult things America has ever faced.

 

On the Other Hand: (devil's advocate time)

Remember: When US Oil companies are making record profits, people like you and I do "profit" in a way, because all the emoloyees of those Big Oil companies are just people like you and me.

Sure the Fat Cats get Fatter, but some of that money trickles down. Profit sharing gets better, 401K accounts get bigger, Christmas bonuses get bigger, salaries get bigger, etc.. These people are your neighbors and my neighbors, and they do spend a lot of that money, which is a boon for the economy in the long run.

Every big ticket purchase like a large house or large boat produces more work for the people in industries which keep things running, like maintenance companies and the like.

So yes, it is VERY DISTRESSING and hard to understand why oil is priced so high, but there is a Silver Lining in Every Dark Cloud, dontcha know?

Here are some links which explain SOME of the reasons at least a little bit:

http://www.charlotte.com/mld/charlot...s/12398385.htm

http://www.burlingtonfreepress.com/a...10/1009&theme=

 

What bothers me alot more than the oil companies is the attitude of Joe Public.

While some realize driving habits directly relate to pump $$ most still have no clue and continue to drive like its cheap.

If people want/enjoy wasting/spending their money that way that's fine with me.
But I'd be they are the 1st to scream family financial hardship caused by fuel costs.
(NBC/CNN/ABC as their megaphone)

The way I see it most folks are just relying on the government to help with their fuel costs be it auto or home. Relying 100% on someone else is not good.
We've heard all our news complaining about this, but how many times have you heard them inform how much $$ a person could potentially save with driving style modifications?
I heard on the news yesterday that hybrid car sales are skyrocketing but dog-gone you don't need one to save cash.

Personally I'm proud to be posting driving tips across the net in an attempt give individuals some control again. I see others are posting them too.

 

I agree, the government has been making dirty deals with despotic countires and more recently going to war for access to cheap oil. We are stuck on the treadmill, being encouraged to buy guzzlers and drive like there's no end to the oil, so then the government gets to make access to oil a priority, leaving all the future generations mountains of debt to be repaid just so we could keep on guzzlin'. It's like taking out a big loan on your house so you can blow it on crack... eventually you'll lose your house, that's how the game is played. Somehow the economy must be unbound from the oil or it's going to cost future generations their lives and freedom.

I would be much more sympathetic to a government that put as much money and energy into developping alternative energy and getting the economy into rehab, but what we're seeing is token gestures to appease the people who say that the government should be doing something other than guaranteeing the oil companies easy access to crude.

 

Where's the cheap oil?

I'm not a beliver of despotic secretive but somehow widespread criminal conspiracies, all I'm saying is that we have become too dependant on other people for things we should take charge of ourselves.

Fuel consumption is only one example of this.

 

Funny, but here's a like to a BBC Online article from last September attempting to explain "Why are oil prices so high?" I assume all the causes still apply, just with greater effect...

Also, our local paper had an article warning us about heating oil prices for the upcoming season, and the executive vice president of the Fuel Merchants' Association of New Jersey, Eric DeGesero fingered "Unmitigated greed by investment bankers and hedge fund operators. When commodities traders see a high, they say let's take it to another high. They keep testing it until it gets to a breaking point."
I always knew I was in the wrong business! Full article here.

Fred

 

Actually, yer standard barrel *is* 42 gallons. See, living next to an oil refinery does have its advantages! Back when I was a kid, they had a huge scale model of the plant in the lobby, including the catalytic cracker (you don't want a fire in that baby!).
Also, I found this neat chart which shows the typical refinery output for a barrel of oil by percent. They list gasoline at 45.8%, meaning about 19-1/4 gallons. Among the "final products made from crude oil"... basketballs, deodorant, & brassieres. Not like we need any of that stuff....

Fred

 

The last I read was the newest refineries are getting a 49% yield for gasoline on each barrel. But then you have to add in the 23% diesel yield too since diesel prices have gone up just as much as well.

All in all you're looking at 30 gallons of fuel per barrel, meaning for every dollar per barrel we should be looking at a $0.03 increase in fuel prices.

 

Right here:



SVO - straight vegetable oil. No wars, create jobs, less pollution.

When made from algae (which can produce up to 10,000 gallons SVO per acre per year), it's waaaay cheaper than crude oil. I'm tellin' ya, it's only a matter of time....