What is Digg?174 Comments
- az2pa, on 09/12/2008, -10/+52"So once gas hits $4 a gallon after this hurricane Ike, don't expect it to ever get back down to 3.50."
The same way it never dropped after Katrina. Or even after the high it hit in July.
Oil traders know now that Gulf Coast refineries no longer supply or serve national markets. They also know that disruptions in the region are, in fact, temporary and confined to the region. Thus, the spot price in the region blips upward on the temporary shortage and increased demand there while broader markets see little to no volatility. Indeed, as the story notes, even in the face of Ike, light-sweet dipped briefly under US$100/bbl.
Markets work. They don't always work perfectly or instantaneously, and periods of panic or FUD can slow them down substantially. But, in the end, they always correct. - elebrio, on 09/12/2008, -5/+44This headline is completely inaccurate. The article says the temporary increase in price from Ike likely won't be passed on to consumers. The submitter should learn how to read.
- PhilLesh69, on 09/13/2008, -2/+19GettBuilt,
I hear what you are saying, but you are using specific prices.
Once gas prices go up to a certain point, they break a barrier, and they will fall back down, but they will never fall back down to the prices in 2000, or 2003, or even 2005. Forget 1998 prices.
Once they break a certain price barrier, like they did several times in the past 8 years, it gets people used to paying higher prices, and then they come back down to a price point that can be sustained over time.
We had $1.20 a gallon gas in 2003, and we were all upset that it rose to almost $2.00.
Then it settled back to around $1.50 a gallon and everyone forgot about that major disaster.
Now that we approached $4.00 a gallon, we'll all be happy to pay only $3.25 a gallon in a few months, and everyone was so upset about $3.85 a gallon that they won't protest that. They'll even forget to ask the central question of "Why did gas go from $1.20 in 2003 to over THREE TIMES THE COST in 5 years? - SilverBlade2k, on 09/13/2008, -0/+16The price of gas in Canada is hitting record highs ($1.41/litre in Canadian Dollars), while the price of oil is dropping. ***** GREED.
- Jelfish, on 09/13/2008, -0/+12Oil companies are smart. They realized how mobilized new carbon-neutral energy investors became when the price of gasoline sky-rocketed. Now, they will decrease gasoline prices *just enough* so that investors no longer feel confident that their prospective new-energy investments will be price-competitive with gasoline enough to justify the risk. Win-win for big oil.
- inactive, on 09/13/2008, -2/+14I drive a civic!!!!
- inactive, on 09/13/2008, -0/+10*****.
- SquattingBear, on 09/13/2008, -2/+11I like my women like I like my oil: light, sweet, and crude.
- KdogTN, on 09/13/2008, -1/+10Just face it. The big oil companies have the balls of both Democrats and Republicans in their pockets. We didn't hear a single word about the big merger of the major oil companies when it happened.. Why? Reduction of competition equals better control of the screwing of our nation.. Congress let it go through and sped it through so fast that we wouldn't even really notice. However, Sirius and XM radio wanted to merger and both companies had to testify before congress for two freaking weeks to convince them that it needed to happen. Until we hold our Representatives accountable for their actions, we will continue to get our asses reamed out by big oil and other mega money makers.... Obama says he will decrease our dependency on foreign oil, how? McCain said he will lower prices by drilling. A lot of good that will do when they drill in the freaking gulf of Mexico when it get shuts down... I'm tired of hearing nothing but ***** come out of every freaking senator/ congressmen/ presidential hopeful/ critic. I filled up my car three days ago at $3.40 a gallon. Tonight, I had to pump premium because reg was out in every station and paid $4.70 a gallon. THE F#*$*&% HURRICANE HAS NOT EVEN HIT YET!!!!!!! Time for the beatings to begin.
- greeniemeani, on 09/13/2008, -0/+9I paid 4.65 at a station today where I paid 3.35 just last week...
- inactive, on 09/13/2008, -0/+9Dugg for making everyone scroll back up to see submitter's username.
- WestonP, on 09/13/2008, -2/+9Why lower their prices, when we're still buying plenty at $4/gallon? We need more competition (not mergers!) in the oil market, or a viable alternative fuel... only then will free market economics solve this problem.
- alecsputnik, on 09/13/2008, -7/+14than why has gas gone up 40 cents in the past day?
- inactive, on 09/13/2008, -3/+9~.30 ≠ big time drop
- Kayakityak, on 09/13/2008, -0/+6My town was out of gas by 6:00 PM tonight. There were long lines all afternoon long at stations charging $5 a gallon.
- DearInternets, on 09/13/2008, -0/+5I hope they are wearing insulated slippers on those marble floors, marble floors will chill you to the bone without proper protection.
- Anpheus, on 09/13/2008, -1/+63.38 here. It did hit $4.00
- audomatix, on 09/13/2008, -0/+5Until everyone gets together and has had enough nothing will change. People love to complain and take no action. 5000 people or more outside the white house = change. You can't control that right away, you can't ignore it. Revolution creates revolution. They will continue to rip us off and every quarter report new record profits. If you took the 11.5 billion they made and cut that profit in half and distributed it out to the American public each American could shave almost 16 dollars off at the pump.
- inactive, on 09/13/2008, -3/+8LOL! you are already conditioned to your masters - show me it going down $2 in a swipe and then ...maybe
but no, you are claiming that a nickel of a quarter is a bunch of change
LOL!!!! - Nation, on 09/13/2008, -7/+12because supply went down, please go study some basic economics.
Here is a great place to start:
http://www.econtalk.org/archives/2007/01/munger_on ... - lulzitsadigg, on 09/13/2008, -1/+6That's what you get for overpricing your maple syrup
- insomniac247, on 09/13/2008, -0/+4All the stations in town only have Premium gas left. My car has to use premium (Subaru WRX) and this is the only time having to use it wasn't so bad. Though I had to pay for the gas with my 1st born.
- PhilLesh69, on 09/13/2008, -1/+5faintember, you should never expect any human being to "do the right thing" when they are in a position to profit off of you.
Ever heard of human nature?
Ego, Profit, Sex and Fame.
Nobody is looking out for you. They are looking out for themselves.
No matter what emotional key words they might use to make you feel comfortable or patriotic, they are only trying to get you to vote for them so they can be the rulers who control your life and make a little bit of money in the process. - StandardsDT, on 09/13/2008, -0/+4Here in NJ or at least in my area gas is down to $3.27 for regular on Route 22. Hopefully it will continue to fall, but I doubt it will continue for much longer.
- stoanhart, on 09/13/2008, -0/+4But it won't work. Too many people have already invested too many dollars to back out just because oil got a little bit cheaper. When I started driving 6 years ago, I paid 70c/L, now I pay $1.40, so this little drop in price is almost insignificant.
- PhilLesh69, on 09/13/2008, -1/+5Bith8654,
Oil interests. They are behind all that.
I hate to break it to you, but the health care industry wasn't behind it. The fast food industry wasn't behind it, either.
Cui Bono? - feureau, on 09/13/2008, -0/+4After the oil crisis in the 70s and early 2000s... WHY THE ***** ARE WE STILL USING OIL!?
Where is my nuclear powered flying car!!?! - inactive, on 09/13/2008, -0/+4My town was running out of gas today, too. There was a long line to get gas at one station that was still selling it for $3.53 though. I grabbed it while I could. It'll probably be $4+ at the same station by tomorrow morning. It's already >$4 at a lot of places in town.
- inactive, on 09/13/2008, -0/+4"Exxon's revenue for the three-month period was still greater than the annual gross domestic product of some major oil producing nations, including the United Arab Emirates ($74.67 billion) and Kuwait ($55.31 billion), according to statistics maintained by the Central Intelligence Agency."
http://wakeupfromyourslumber.blogspot.com/2006/04/ ... - PhilLesh69, on 09/13/2008, -0/+4djholybolt,
speculators and politicians from both sides of the duopoly. - BooneFaustus, on 09/13/2008, -1/+5And did you know that they used to burn all the gasoline as an unnecessary byproduct of refining oil? Look it up if you don't believe me, as I'm too lazy to provide a source.
- mmcgrath20, on 09/13/2008, -1/+5Submitter should read the news- gas prices in the southeast rose 10-50 cents today. ONE DAY. I think the prices are being passed on to the general public. Here in NC, some stations had prices over $4, which is a 40 cent increase in 24 hours. We had gas lines and stations without gas due to the artificial "panic" induced by the oil companies. All of this is designed by big oil and their associated businesses to keep profits at record levels.
- dante88, on 09/13/2008, -0/+3I hate this because I work at gas station. People came in all day today ( Septemper 12th ) asking about the gas prices going up. I didn't know what to tell them. People blame me when the gas prices go up, as if I make the decisions. They were 3.98 today in Southern Illinois, and people came in talking about prices in other counties reaching prices of $5, $6 or more. They ask me if I know what is going to happen to the prices, when I don't. All I know is, there are hundreds of people paranoid about prices, so they all get gas before the prices go up, like they understand whats going to happen to the prices because of Hurricane Ike. BT dubs, I'm pretty drunk, so this is a lot of rambling. Bury me down if you don't understand this situation.
- bjornski, on 09/13/2008, -0/+3I'll leave the "crack spread" joke for someone else.....
- Rotzooi, on 09/13/2008, -1/+4That would matter for warm-blooded mammals. Republicans aren't.
- bjornski, on 09/13/2008, -0/+3And George ran for office by saying how awful it was that oil was $28 bbl under Clinton.
Never trust an oil-man to help lower the cost of oil.
Same goes for Palin. half of the cost of all of that Alaskan oil will be going to the Alaskan "oil welfare" anyway. No wonder she loves the idea. - macslut, on 09/13/2008, -0/+3If refineries shut down in preparation for a storm, the price of gas goes up. But because not as much oil can be refined, the price of oil drops.
This plus The Man is going to screw us anyway they can. - Kayakityak, on 09/13/2008, -0/+3I waited in line for 10 minutes and paid $5 in Kernersville, NC. The line was backed up so far it was interrupting traffic.
- willwillywilson, on 09/13/2008, -0/+3O....K.... So rising oil prices drive the price of gas highers. But falling oil prices don't drive the price of gas lower? Whatever.
- Barackalypse, on 09/13/2008, -1/+4That would benefit refineries, not oil producers.
- matthewkg, on 09/13/2008, -1/+4$1.46 here in Nova Scotia. :(
- digidelia, on 09/13/2008, -1/+4just remember to wear a helmet
- bjornski, on 09/13/2008, -0/+3It's worth it.
- faintember, on 09/13/2008, -2/+5Here, 1000 miles from Galveston TX, gas went from $3.39 to $4.60 in less than 24hours.
I have no faith in the oil companies to "do the right thing". - scoottie, on 09/13/2008, -1/+4at least we don't pay European prices
- sajorojas, on 09/13/2008, -0/+3Hell yeah! we got da cheapest gas in the country!
- sajorojas, on 09/13/2008, -0/+3Still $3.39 in NJ bitches! =P
- zoydberg, on 09/13/2008, -0/+3hell yea, 92 civic, 38mpg ftw
- Proctor, on 09/13/2008, -1/+4Still $3.53 here in NY bitches!! :D
- WoollyMittens, on 09/13/2008, -0/+3Giving tax-breaks to the Bush family business will free up precious lobby funds for delicious bribes.
-
Show 51 - 100 of 176 discussions
© Digg Inc. 2009
— Content created and posted by Digg users is