Gas price vs. $80 oil

Does it seem like gas prices are too high for $80 oil? Look at the chart from 2 years, gas was around 2.80 last time oil was in this range. It has a time lag, but it seems bad this time.

Dang Big Oil! I scooped the populist Obama on this one.

http://66.70.86.64/ch.gaschart?Country= ... t=US%20$/G

http://www.gasbuddy.com/gb_retail_price ... 4&units=us

http://66.70.86.64/ch.gaschart?Country=Canada&Crude=t&Period=24&Areas=USA%20Average,,&Unit=US%20$/G

Its called deregulation...And you Rubes argue for more of it everday..

Thanks a lot

Your welcome!

Don't you remember Obama's release of our strategic reserves? Guess that didn't help the little guy much huh?

Oil is at $77 today.

This might help gas prices a bit. It looks like it could create a fair amount of work as well.

Cross-border pipeline may change oil’s landscape
Market mulls benefits, drawbacks of TransCanada’s Keystone Pipeline

A proposed pipeline stretching from Canada to the United States may contribute to a rise in the nation’s prices for oil, and has the potential to significantly change the landscape of the market.

It’s called the Keystone Gulf Coast Expansion Pipeline Project, or Keystone XL, and a final decision on permit approval for the project is expected to come by the end of the year.

http://www.marketwatch.com/story/cross- ... ry_popular

It's not clear if the pipeline will actually cause oil prices (and subsequently gas prices) to rise but at least it will alleviate some of our need to get crude oil somewhere else overseas to refine here. I think somewhat higher price may be warranted if it can keep us out of the Middle East.

Possible scenario: right now oil is priced fairly high but once OPEC sees the threat of the new pipeline they will cut prices low enough that the project is shut down as no longer profitable.

VL.
Deregulation? How bad of a President is Obama that he can't even re-regulate the petrol market.

Don't forget, the more money that gets printed the less it is worth.

And therein coupled with throwing money around like a drunken sailor and our thirst for oil is where the crux of the problem lies.

Rockdoc Franz wrote: And therein coupled with throwing money around like a drunken sailor and our thirst for oil is where the crux of the problem lies.

doc, that is an insult to drunken sailors and I am a subject matter expert. :Whistle When a sailor spends more than he has he ends up beat up, or in jail or at captains mast and loses his security clearance. If he keeps it up, he ends up a civilian.

Might also be due to the increased cost of ethanol due to worldwide food shortages.

neptunechimney wrote:

Rockdoc Franz wrote: And therein coupled with throwing money around like a drunken sailor and our thirst for oil is where the crux of the problem lies.

doc, that is an insult to drunken sailors and I am a subject matter expert. :Whistle When a sailor spends more than he has he ends up beat up, or in jail or at captains mast and loses his security clearance. If he keeps it up, he ends up a civilian.

Way off topic but... The proverbial drunken sailor may be the reason that US Navy ships and boats only make ports of call and grant liberty to their crews on a limited basis. I recall pulling into Bermuda once with an Australian cruiser on the opposite side of the pier. Apparently the Aussie sailors and diggers had a few "good days and nights" in Bermuda and the citizens and government of Bermuda had enough of their antics. Their entire crew was restricted to the ship and the harbor master had strict orders to see them back out to see as soon as refueling and resupply could be accomplished.

After getting a very strict briefing from the XO and command chief the gold watch was allowed a 12 hour liberty, when we got to the usual spots in town it was quickly evident that the Aussies had really torn up most of the local bars and run off most of the bar flies and "ladies of questionable morals." Like usual in any port, our money was welcome - until it ran out. No money? Get out! Of course no one I knew got drunk or behaved badly (myself included)... :Whistle

Back on track - Oil prices and gas prices don't seem to track like they used to and I have to wonder how much of it has to do with speculation in the markets about where the price of oil is heading next. That little squirt Barry added from the strategic reserves was a nice gesture that had little or no effect on the long term price of oil or gas. Drill in America and refine in America on an increasing basis and we may be able to bring the price of oil and gas back under control. Oh yeah, there is also that pipeline that from our Canadian friends to the gulf that would put many back to work and help decrease the price of energy too... ¿Por Que No??