What is Digg?155 Comments
- orion846, on 10/14/2008, -1/+55consider yourself brainwashed. remember when it went over $2.00 and everyone said "WTF?!" now you consider $3.25 a great deal and huge price drop. they own you.
- CuddyBuddy, on 10/14/2008, -1/+28Gas costs $5/gal because people will pay $5 for a gallon of gas and consume it at a rate that makes this profitable for all concerned parties.
- Garofoli, on 10/13/2008, -3/+26It's expensive because people like to make money when they can, selling necessary commodities.
- wiggles, on 10/13/2008, -5/+25Umm, gas just dropped to an average of $3.25 per gallon -- the largest price drop ever.
http://newsblogs.chicagotribune.com/steve_chapman/ ... - Ajajadude, on 10/14/2008, -0/+20Hell, I was barely paying over a $1 in the late 90's
- trer, on 10/14/2008, -3/+21Why is Gas So Expensive?
Because we created artificial and unnecessary demand by encouraging a culture that rewards driving and discourages walking. - sjbdallas, on 10/14/2008, -1/+13I think the key take away from the article (and a chart here: http://www.fivecentnickel.com/2008/06/13/what-goes ... is that the price isn't constant which can be very frustrating. Those those few months that oil was skyrocketing, no one actually paid that price for a barrel of oil (it was all speculation on futures) but the cost at the pump jumped ski high as if it was directly related.
First they told us it was demand, but even with demand gong down, the prices went up. Now that the price of oil has gone down so much, they're dropping the price of gas but it is still proportionate to the rise? Doesn't seem like it to me. - drizzlelicious, on 10/14/2008, -0/+11You ride a moped or something?
- TurboBeard, on 10/14/2008, -3/+13Gas isn't expensive in the slightest... A liquid, highly refined, brought to 5 minutes within your house, that contains so much explosive energy that it can propel a two ton car for up to 35 miles and is the same price as a gallon of milk.
Yeah, it's not that expensive. Realistically, I'd be willing to pay about $14 a gallon. But then - I just use it to help mow the lawn. - Ajajadude, on 10/14/2008, -0/+10Actually, people weren't that willing to pay $5 a gallon. Americans really cut back on driving during those months.
- RealmDown, on 10/14/2008, -0/+9And vacations. And Christmas spending plans. And charitable donations.
Rage increased though. And those levels aren't decreasing rapidly either. - bodiez, on 10/14/2008, -2/+11"Ok... so why IS gas so expensive?
A butterfly flaps its wings in the Saudi desert, causing the State Department to release a warning of increased terrorist activity. The futures market flips out, sending the price of crude skyward."
haha oh so true. - andre9, on 10/14/2008, -1/+9It's cheaper than bottled water... I'm glad my car doesn't run on that.
- dagnome1984, on 10/14/2008, -0/+8They don't even make that much in returns. I mean 8% return is a ***** joke. These idiots have no problem in buying shoes that are marked up well over 20% on the retail level.
- representDLV, on 10/14/2008, -1/+8The value of the Dollar has been rising recently actually.
- scfraser6, on 10/14/2008, -0/+7Hey Bro, please share your flux capacitor blueprints....
- Trekhawk, on 10/14/2008, -0/+6Too bad Canada lacks refineries. You export tons of it, especially to the United States, so you can buy part of it back as processed crude. It's a real bum deal when you think about it, ehh?
- evil-doer, on 10/14/2008, -1/+7you know whats always bothered me. almost all of the oil rich nations of the world have cheap as hell gas, except canada. canada has the 2nd largest oil reserves in the world and has so much is exports tons of it. but our gas prices SUCK. wtf is with that?
- borez, on 10/14/2008, -2/+8OK, Dugg down. I guess it arrives by the magic petrol fairies overnight in little boxes. My bad.
- sexybobo, on 10/13/2008, -0/+5$3.25 ***** it is $2.55 here
- NJank, on 10/14/2008, -0/+5I remember getting excited when the station local to college dropped down to $0.89. That was sometime between '97-'99. And it was in NJ with mandatory full service.
- UselessTrivia, on 10/14/2008, -1/+6You do realize that there is essentially no difference between premium and regular in a normal car, right? You really only need premium gas in high-performance vehicles that have higher-than-normal compression ratios.
Buy whatever's cheaper unless your owners manual says otherwise. - Turambar, on 10/14/2008, -1/+6a landscape too, i have to cross an 8-lane highway to get to the supermarket, in addition to the 2 miles of walking.
***** hate suburban amurrica - Rooster.boy, on 10/14/2008, -0/+5When the economy slows down gas prices also go down. You can go crazy with all the technical economic stuff, but for 99% of the population that's all they need to know. The problem with gas prices is that the prices at the pump don't seem to reflect the price per barrel. When the price per barrel goes down, the price of gas doesn't go down in the same proportions. This is where the gouging comes in.
- Grok22, on 10/14/2008, -1/+6That and i believe that Canada is referred to as "the land of taxes"
- momegao, on 10/14/2008, -1/+5Is too much anyways. I want to fill my tank with $10 premium (like some years ago), instead of $35 regular!!! :(
- HippyInASuit, on 10/14/2008, -1/+5See my post below. Oil does not follow the supply vs demand "rules."
- Narcism, on 10/14/2008, -1/+5snea, noone's suppose to know you ride a moped. They're a lot like fat chicks... pretty fun to ride, but noone should know about it.
- CaptainNoPants, on 10/14/2008, -0/+4Congratulations, but we're all out of cookies here. Will a gold star suffice?
- forcedfx, on 10/14/2008, -1/+5No, it's because everything is expensive as *****. And that's because everyone wants to live there.
- beesaretasty, on 10/14/2008, -0/+4Then he shouldn't be filling regular. It's the price to pay for a high performance engine. It would be like buying a Hummer and complaining about the mpg.
- RevFredSanford, on 10/14/2008, -1/+5These comments suck (inclusive)
- inactive, on 10/14/2008, -4/+7It's called Socialism.
We pay 25% more for gas than our US counterparts, but we get free health care.
I say we win. - inactive, on 10/14/2008, -1/+4Gotta love you Rontards, you only have one tune to sing. Even when that tune is totally ***** wrong and the mirror image of what is actually happening.
- RabidAngel, on 10/14/2008, -0/+3Sorry, but you are misinformed. There is no shortage of production.
- yatoobin, on 10/14/2008, -0/+3Why is cocaine so expensive?
- toekneebullard, on 10/14/2008, -0/+3Exactly, demand is high because people refuse to use other means...so oil companies can charge whatever they want.
Quit treating it like air, and they'll stop charging like you need it to survive. - Ajajadude, on 10/14/2008, -1/+4Basic economic principles don't apply to oil. The price of oil is decided on what they think the supply will be and what they think the demand will be.
- Demener, on 10/14/2008, -0/+3And mortgage payments, and food, and bills.
- gbarger, on 10/14/2008, -0/+3Actually it does follow the typical Supply vs. Demand rules. There are different types of supply and different types of demand. In this case, oil is called an inelastic demand, meaning even when prices go up or down the demand doesn't change very much. Oil is also an inelastic supply, this means that supply can't change very much even if demand does change. There has been a steady increase in demand for oil over the last 30 years, and the problem is it takes more and more work to increase the supply of oil. Because the supply can't increase, even very slight temporary increases in demand for oil dramatically push oil prices up. So...oil does in fact run on a supply/demand curve.
- oninbonin, on 10/14/2008, -0/+3Yep it's the classic example of throwing a frog into boiling water; he jumps out. But if you throw him into lukewarm water and then slowly bring to a boil, he'll die.
- Hetman, on 10/14/2008, -1/+4Close but not close enough. You didnt know rich people piss oil. That is why they are able to use it to enforce their will on the lower classes.
- VigRoco, on 10/14/2008, -2/+5The key here is the lack of refineries. The tree-huggers have prevented us from building anymore since the 80's, so we should really be thanking them for that problem.
- kero552, on 10/14/2008, -0/+3Bike/motorcycle? I know, that weather can interfere, but you could use it half a year.
- Comanche, on 10/14/2008, -0/+3Your gas is so ***** cheap you have nothing to complain about. I payed $2.69 before I drove back up to Canada. Expensive? Lol, Get real.
- heresy_fnord, on 10/14/2008, -0/+3The largest price drop ever doesn't help.
Here is an example. Tomorrow they could raise it to $1000 a gallon and then lower it the following day to $3.25 a gallon. That would be the biggest price drop ever. That doesn't make it any easier on the average person when it had been in the low $2 range for years. It' spiked to the $3 range and then to the $4 range and tipped $5 in places. It still needs to come back down even more. - borez, on 10/14/2008, -0/+2Supply and demand
- schrutefan, on 10/14/2008, -1/+3Buried. Gas is not expensive. People just drive too much.
- NJank, on 10/14/2008, -0/+2no. that would take a 1.21 GW power source. no conventional petroleum source could produce those power density levels.
- istatic, on 10/14/2008, -0/+2Dropped under $3 last night where I am.
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