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Originally Posted by pyr0b0y
$3.23 here in San Francisco....and that's 87!! 91 is $3.63....overkill!!!
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Same here in upstate NY. The Camaro, when fully broken in, should get better mileage than my last car (99 Avenger V6). Still, it doesn't make my wallet feel any better.
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Originally Posted by fielderLS3
The point isn't so much the affordability, it's the fact that market fundamentals don't support current prices. The rise in oil from about $60 to $90/barrel (about 75 cents a gallon) in just the last 6 months is the result of a combination of bad central bank policy combined with speculators, hedge funds, and other large institutions have cornered many markets (oil just being one of many) on paper without taking delivery of a single drop, making a fortune for doing and producing nothing.
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Thank you! This is exactly the problem with not only gas prices, but the economic problems we're facing. Speculators have driven up energy costs which has driven up all economic production costs, making everything more expensive. This is a major reason why economies tanked worldwide in recent years.
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Originally Posted by Stex
Everyone but USA drilling in the gulf (read no oil no jobs), no Alaska new drilling (read no oil no jobs), oil shale land put off limits by greens and their hired politicans (read no oil no jobs), no new refineries/nuke plants (read no gas no jobs and no cheap clean power) and guess what the Gov (with no investment/risk) makes more off a gallon of gas than the oil companies.
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The US is drilling in the Gulf, and the moratorium only impacted deep water drilling.
That said, even with current levels of drilling, we don't have the refinery capacity we need because oil companies haven't reinvested their profits into building new/upgrading existing refineries. They took record profits from the last few years and rewarded shareholders and speculators. Every time a refinery shuts down (weather, seasonal formula changes, unforeseen accident) the gas prices immediately spike.
Yeah, the rising gas prices annoy me. But, the corruption and profiteering that caused it gets me more annoyed.