I agree with many opinions here, and exactly where will the $100 come from?

Interesting how some up on that hill want to investigate oil company $0.12/g profit for gouging while they themselves enjoy $0.50 or more per gallon in taxes?
The U.S. pumps around 320,500,000 gallons every day.... That's $160.25 Milion collected per day in taxes. (Or almost $7 Million every hour)

Now, I'm not saying oil companies are doing the right thing at all with their record profits but is food for thought.

Politicians complain about foreign oil dependence while Alaska remains untapped, our own South and Western fields remain capped, Vast Shale deposits in our West aren't looked at, no new refineries in 30 years, no off shore drilling, off shore wind farms projects get stopped, no nuclear plants, no real energy strategy, etc.

No wonder energy is so expensive these days.
Our problem today is caused by decades upon decades of neglect.
They can't sweep it under the rug anymore.

 

Who are these morons and do they really think this is going to work?!? I agree, it's all about ANWR. Which means it's all about doing nothing.

 

I thought the problem wasn't oil supplies (where the oil comes from is a different argument), but the fact that refineries that *do* exist are operating only at 85% capacity. If more refineries *were* built (unlikely since no one wants one in their backyard and the oil companies will need to spend $$$ to make them), then the companies would just have a reason to operate more refineries at *less* than 85% capacity. I'm only slightly educated on this, so someone please chime in with more info!

Rick

 

Ender21,

The increase in prices at the pump is driven mostly by world wide crude demand, which has caused prices to rise from about $40 per bbl to $75 per bbl AND a lack of US refining capacity to meet US demand. While the problem with refining capacity is partly due to the complexity of manufacturing EPA and CARB gasoline, it is also substantially due to decisions made by US refiners to only marginally increase existing refining capacity at their existing refineries. In my opinion this is due to the fact that the US refining market is a tight oligopoly that tacitly coordinates to limit capacity expansions. The notion that you need to build new refineries is wrongheaded. Existing refineries can expand.

From an end user perspective the best way of driving down the refinering margin is for consumers to substantially cut back demand.
Which means acquiring fuel efficient vehicles, driving in a manner that maximizes fuel savings and using altenative means of trasnsportation when reasonable. Relatively small reductions in gasoline demand can have a dramatic impact on gasoline pricing. On the other hand, so can relatively small increases in demand. The bottom line we're shooting ourselves in the foot. Yes politicians are showing an incredible lack of leadership, the automobile industry (for the most part) is demonstrating a lack of foresight, but consumers are showing an even worse lack of restraint. I figure it's going to get a lot uglier before it gets better.