What is Digg?128 Comments
- LilRabbitFooFoo, on 08/11/2008, -5/+46Unless they can get the dollar to come back up, oil prices won't drop significantly. The reason you are paying $4 for a gallon instead of $2 is because each of your dollars are now worth 50 cents when buying international goods. And that is directly due to the bankrupting of our country to finance the war with money loaned to us by the Chinese.
See how it's all connected? Nice huh? - ponyboy96, on 05/28/2008, -0/+26Thank you sir, can I have some more?
- greenm1981, on 05/29/2008, -5/+30OM NOM NOM NOM NOM!
- inactive, on 05/29/2008, -3/+26I'm Australian, and as as little as 8 years ago the AU dollar was worth about 50 US cents.
Now it's worth about 96 cents.
Thanks America!
Love,
Foreigners who are profiting off your stupidity - WoollyMittens, on 05/29/2008, -0/+15Ah, that'll get them some more human right violations forgiven for sure.
- PhatJack, on 05/29/2008, -3/+18Well...
Let me just pull my '68 Camaro out of the garage. - greenm1981, on 05/29/2008, -1/+15I doubt this will result in a decrease in gas prices.
- benitojuarez, on 05/29/2008, -2/+14about ***** time, i keep hearing this ***** about the national average being 3.85 but our gas is over 4.30.
- thatsmyaibo, on 05/29/2008, -0/+11We need to start drinking other countries' milkshakes.
- inactive, on 05/29/2008, -0/+10You can repeat this all you want, few people will even understand the words you are talking.
- duggdowncatisad, on 05/29/2008, -1/+10Unless someone starts building some more refineries in this country, this isn't going to do a bit of good. There could be an infinite supply of crude oil in the world, and the amount of gas is limited by the refinery capacity. I don't recommend putting crude directly into your gas tank unless you enjoy breaking things.
- saigumi, on 05/29/2008, -0/+8That's ok, Khan. In about 3 months when all that US grain you are importing quadtuples in price, we will laugh right back.
- FairDinkumMate, on 05/29/2008, -1/+9Why is it that EVERYONE(yes, I'm talking especially to you America) complains about supply, but NOBODY(except andy314159pi) talks about DEMAND?
Total global oil use = approximately 86 million barrels per day
US oil use = approximately 20 million barrels per day(68.9% for vehicle fleet) = 13.78 million barrels per day
The US vehicle fleet achieves HALF the MPG of the Eurpoean vehicle fleet.
If the US vehicle fleet achieved the same MPG as Europe, oil DEMAND could be REDUCED by 6.9 million barrels per day or 8%. Now consider how much impact that would have on long term prices compared to the 300,000 barrels per day(0.3%) increase in production this article refers to!
This is without even looking at other options such as public transport, alternative fuels, etc. - lopla, on 05/29/2008, -1/+9BOOYAH!!! Phenominal news, going to get my used Hummer H2 tomorrow sweet!!
- defska42, on 05/29/2008, -0/+7Yeah I noticed the overnight jump as well. Yesterday (maybe the day before) it was $4.05, today it's $4.15, and I even saw a $4.33!!
Time to buy a bike. I could use the exercise anyways. - inactive, on 05/29/2008, -0/+7dugg you because people can't take a ***** joke
- andy314159pi, on 05/29/2008, -0/+6Sprawl is causing the excessive use of fuel. Addressing the lack of urban planning will go a long way to answering the oil problem.
- Lazerous, on 05/29/2008, -0/+5Let me file this one under "Things that won't reduce the price of gas."
- ryboy, on 05/29/2008, -3/+8Sadly that is the exact truth... All you have to do is listen to Ron Paul, he is the only one who even mentions this fact.
- mjbk24, on 05/29/2008, -0/+53.50 sounds like a blessing... It's 4.09 here (CA) try that one out.
- inactive, on 05/29/2008, -1/+6If you dont live far from work, gas prices hardly matter.
I just bought a Trans Am, pulling about 15 MPG the way I drive. And damn is it fast.
People want to spend 10 extra grand on a ***** sucking Prius to save a small amount of gas, when it would save them a whole lot more (not to mention commute time) to just live closer to work. - Cerebron, on 05/29/2008, -0/+5No kidding. Where I live the people in charge of roads and traffic never considered bicycles, and from the looks of the traffic lights and such, didn't care much for cars either.
- sparkleprincess, on 05/29/2008, -1/+6No it won't.
"So adding more or taking less oil from the market will not change the oil price since the sentiment of investors in the futures market is pushing for higher prices." - inactive, on 05/29/2008, -0/+5Thats what you get for living in CA, over paying and over taxed on everything.
People out there must be ***** morons or something. - inactive, on 05/29/2008, -1/+6The developing world needs more oil for its development,so carry on please.
- inactive, on 05/29/2008, -2/+7Thats one part, the bigger part is oil futures. If they didnt sell oil futures oil would be 60 dollars a barrel .
- xnova5, on 05/29/2008, -1/+5this is just a way to keep us calm and quietly creep the prices up they've been doing this all along and we fall for it every time just when the people had enough and want alternatives they increase production and the people return to their old routines.
- benitojuarez, on 05/29/2008, -1/+5Im sure youre right, Itll be over 5 dollars a gallon by the end of july.
- inactive, on 05/29/2008, -0/+4MOAR OIL TO BUUUUURN. I can taste that sweet crude already. *smacks lips*
Mmmmmhhhmmm, thats good oil. - GreatSunJester, on 05/29/2008, -0/+4And yet the thought that hits me is, "See? We can give you all the oil you need, and you pay us for it! You do not need to produce your own! That is not the oil you are looking for. Move along,"
- reddoggie, on 05/29/2008, -0/+4The refineries that exist in the US are old. The youngest is 29 years old. The regulatory standards for refineries today make them extremely expensive to build or update. The refineries that were operating before stringent regulation were "grandfathered" as existing facilities. As a result, building more refineries isn't profitable -- believe me, it would happen if it was. In reality, some of this higher cost for fuel is directly related to our environmental policies. I'm not passing judgment here, just stating an observation.
- booshack, on 05/29/2008, -0/+4Care. I ride a bike and plan on continuing to do so. Yay for living in a country with dedicated bike paths everywhere there is a road.
- Cerebron, on 05/29/2008, -1/+5I like it better when they laugh with a normal 'hahaha' or 'hehehe'...
- Ryan166, on 05/29/2008, -1/+4Good news, but for the most part supply already is keeping up with demand. It's the weak dollar and too much speculation that is causing high oil prices.
- mjbk24, on 05/29/2008, -0/+3maybe now it will be 4.05 instead of 4.10...
- inactive, on 05/29/2008, -1/+4more profits for ARAMCO!!
- inactive, on 05/29/2008, -0/+3it's supposed to be something like $4.50 in Hawaii. And $9 or so in the UK. trucking companies in the UK are now spending 40% of their revenue on fuel, which has sparked protests against the high oil taxes there.
- smoger, on 05/29/2008, -0/+3if OPEC announced a production *cut* of 300,000bpd, prices at the pump would skyrocket within 24 hours.
with the announcement of this production increase, i will not hold my breathe for prices to drop. - eavesdrop, on 05/29/2008, -0/+3So............the oil producers are using the Debeers diamond scheme? Diamonds are not rare but they control the amount released into the market, so it raises the prices of it.
- woofers07, on 05/29/2008, -0/+3it's actually 4.05 here, and we get full service
- inactive, on 05/29/2008, -1/+4Sorry, but you are vastly over simplifying a very complex thing. The war alone is not responsible for the dropping value of the dollar, not even close. In fact its not even the largest factor.
- VitriolAndAngst, on 05/29/2008, -0/+3True, the devaluation of the dollar is a big part of the increase in gas prices.
The other is the war -- our military is the largest single buyer of fuel.
Then there is the "speculation" in the commodities market -- but I'm guessing that any "regulation" in the oil purchasing market, was long ago bought out, and that these OPEC and Big Oil companies in the US can bid up the price, and share the spoils behind the scenes. "You want $20 more per barrel? Fine, then we bid it up $40 and split."
I think that we are going to eventually find that most of the money we spend, is on monopolies making a sham of the idea of a free market. I think that pretty soon, we will find that regulations and paperwork and all the hoops we get put through in life are to keep us too busy to think, and have nothing to do with progress.
Oil is expensive, because people with power want it to be. They have also been the same groups that kept us using oil and not building a train infrastructure in the US.
But above and beyond that -- we are still building pyramids. Which was a way to keep farmers busy in Egypt when they had nothing to do for 6 months out of the year. The kings of europe used to have long-standing agreements between various castles to make war, because it meant the people would work to make the castles big and strong and support their king -- because he had the army to "protect them."
Putin is meeting with the neocon Sarkozy. Is it to agree on another "Cold War?" That was a modern-day equivalent of castle-building that doesn't even require battles. The Soviets were putting up cardboard tanks near the end. But hey -- doesn't that make sense? You can spend money on star wars, and have no financial accounting and then say; "After $100 Billion it doesn't work -- we need more time." Pocket the money, spend it on mistresses and a mansion in the South of France. We don't have money for children's healthcare, but Joe Liebermann thinks we need to spend $72 Billion on submarines -- I guess to catch people in desert caves.
So, yes, it is the dollar. But the dollar is week because we spent the money on bread and circuses and keeping people building Pyramids. - inactive, on 05/29/2008, -0/+3LOL
- spawnfree, on 05/29/2008, -0/+3oil is expensive because of doubts about the supply.
and now the price is high Suadis are able to produce more oil. but it might run out, they guess.
Anybody else get the idea that this is a big managed situation and we are being *****? just like enron with their lies and blatent scams that everyone bought into. - DracoFlameus, on 05/29/2008, -0/+3I'm happy to see that the comments are so positive about it, despite being only a temporarily solution... if u can call it a solution at all, because that won't mean prices will drop suddenly... actually it probably means just a temporarily stagnation until it continues to rise.
- ratbastid, on 05/29/2008, -1/+4GASP! Surely you're not implying that Americans should... change their lifestyle???
We have the best lifestyle in the world! We drive around places! We have entertainment in place of news!
If I give up my Hummer, the terrists win! - hfactor, on 05/29/2008, -0/+3Which is providing the US with gas?
- ImpoliteAndEvil, on 04/06/2009, -1/+4$4.15 per gallon here in Fresno, California. I don't visit friends and family as much because of the gas prices. I can't go out of town as much either, which really sucks.
- inactive, on 05/29/2008, -4/+7MOAR!!!
- Thotekutta, on 05/29/2008, -0/+2They increase output every year about this time (after Memorial Day in the US) to keep pace with the summer demand. So really there isn't a signifigant or unexpected increase here.
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