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Jack Klarich
Guest
Supply and demand and speculation on wall street will continue to drive the price up IMO, it could be worse
Gas prices
- Thread starter dogdad
- Start date
maine-e-axe
Junior Member
Obama's no off shore drilling don't help at all. What,s wrong with ON shore drilling, would'nt the capital look good with a oil rig on the lawn, after all it is OUR lawn.
Cyclops
Active Member
About a month ago there was an article that stated OPEC (I believe it was OPEC) had declared the US economy could handle a $5.00 per gallon price. Since that time the price has slowly trickled up. In addition, several of the big oil companies have argued that the US will eventually be paying $5.00 per gallon, and of course they can directly influence the price, as they 'sort of' control it. However, the oil companies are using this as a ploy to get the US to lift the restrictions on drilling in the gulf, in hopes the US government will cave in and allow them to do such. Just last week Murphy Oil USA announced how they had moved off shore drilling to another area (a foreign shore) and lost millions (if not billions) because they didn't find enough oil to pay for the drilling.
It's not a matter of if we'll end up paying $5.00 per gallon; it's a matter of when we'll start paying $5.00. Some say we'll be to $4.00 by summer and $5.00 in 2012. Others declare $5.00/gal by 2015.
We can all say what we want, but in the end we have no choice but to pay the price at the pump.
Just my 2 cents worth. :small3d022:
It's not a matter of if we'll end up paying $5.00 per gallon; it's a matter of when we'll start paying $5.00. Some say we'll be to $4.00 by summer and $5.00 in 2012. Others declare $5.00/gal by 2015.
We can all say what we want, but in the end we have no choice but to pay the price at the pump.
Just my 2 cents worth. :small3d022:
Porter
Junior Member
Premium: $3.30
Diesel: $3.45
The value of the dollar going down, India and China expanding rapidly, "easy" to get to oil is gone, speculation, strange U.S. off shore drilling laws (like we are almost forbidden from drilling in shallow water, deep water=$$$$) etc. I think the last estimate was $1M a day to run an off shore rig. Multiply that by the number of rigs... Oil companies have had "misses" and have to move to some other site in hopes of finding a new deposit. Imagine dumping 100M and drilling and finding nothing. Happens a lot. I am not defending the oil companies for all their actions, but it is a business. I think it is interesting that no one really knows how much is left in the ground (estimates say the earth is 50% depleted) but I doubt that data comes from oil companies. That would be a closely guarded secret. I also find it interesting (even with the devalued dollar) that it is now profitable to go after the oil shale in Canada. 20 years ago that was a "non-starter". It is also nice to think about all the taxes on fuel (all over the world, the different rates) and just about every country is still broke! HEHEHEHE
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Jack Klarich
Guest
Obama's no off shore drilling don't help at all. What,s wrong with ON shore drilling, would'nt the capital look good with a oil rig on the lawn, after all it is OUR lawn.
I like this is there oil under the White House?
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Jack Klarich
Guest
Go figure that one, like in The Twin Cities area, Ashland Oil had a refinery in the area and gas prices were still high