Resurrecting a thread from December 2011--More about $7.00 a gallon gas

[ARtraveler]

I am going to resurrect this topic one more time. It appears I was about a month and a half to early on my prediction last go around.

NBC news last night and tonight, 2/13 and 2/14, had a piece that virtually promised gas up to $4.95 per gallon in Chicago by Memorial Day. These precussor type of bits, generally are right on the money. The reasons given--an eastern refinery down, the unrest in the straights of Hormuz, and the "expensive" change overs to "summer blends".

They said gas prices have risen 16 to 20 cents a gallon over the last month.

They also showed the US Navy and an aircraft carrier, with escorts, on a "sabre rattling" mission, sailing up the Straight of Hormuz. They encounterd patrol boats and a large destroyer type Iranian vessel that broke off pursuit at two miles from the carrier. They also implied that it is just a matter of time before someone makes a "miscalculation". Any military incident there will immediately put gas prices through the roof. I am almost feeling that my original prediction of $7.00 may turn out to be more like $10.00. The article also stated that every .50 cent per gallon rise in gas prices takes $1.5 Billion out of our economy.

[Firefly]

I could see $5.00 in the not too far off future..we'll eventually catch up with the rest of the world. Not much we can do-- if it's gonna go up--- it's gonna go up.

Might put a damper on some Spyder Lovers members summer trips. :-(.

[rogerb]

There was an oil company dude at a congressional hearing that said that demand was down so they had to raise prices to make up the losses. Millions of dollars is not enough profit for them. One day profit for them would be a life time retirement for one of the 95%. I'm glad there not greedy.

[ThreeWheels]

Those profits go into my 401K.......................

[Yol Bolsun]

l What is is what is. Ride or not? Whatever the budget allows.

[flamingobabe]

There was an oil company dude at a congressional hearing that said that demand was down so they had to raise prices to make up the losses. Millions of dollars is not enough profit for them. One day profit for them would be a life time retirement for one of the 95%. I'm glad there not greedy.

If you invest $1000 what return do you expect? 1%, 5%, 10%??? $10, $50, $100???

When the oil companies invest what should be their return? They invest millions and that might be low....just saying.....

[Bob Denman]

While nobody is in favor of paying more for petroleum products, they do pay out a portion of the profits to their stockholders... folks with 401Ks like ThreeWheels. They're in business to make money; the fact that they're very good at it just makes it easy to dislike them... but if they LOST money, what would happen??

[warp10]

I think it was Exxon that their profit is over 25 billion every 3 months, I think they are making enough profit.

[Bob Denman]

Well I'm all for Capitalism; I wish that I was making that much! If my ship came in; all my friends would ride for free!
"Rising tides lift all ships!"

[dancogan]

... If my ship came in; all my friends would ride for free!
...

Bob - here's hoping when your ship comes in it's a great big tanker full of oil. Then we will be able to ride for free!

[Bob Denman]

Me and all of my friends... friend!

[vampyregirl]

I'll have to get a 2nd job to afford to go to work...... Greedy bastids!!!!

[ThreeWheels]

If you invest $1000 what return do you expect? 1%, 5%, 10%??? $10, $50, $100???

When the oil companies invest what should be their return? They invest millions and that might be low....just saying.....

Exxon's profit margin is around 7%.

Budweiser makes about 16% profit.

I don't see anyone upset with Budweiser.

Well, except that it tastes like carbonated battery acid.

But that's just my opinion, I could be wrong.

P.S. Coca-Cola is about 33% NET profit.......I'm just saying

[bjt]

There was an oil company dude at a congressional hearing that said that demand was down so they had to raise prices to make up the losses. Millions of dollars is not enough profit for them. One day profit for them would be a life time retirement for one of the 95%. I'm glad there not greedy.

The thing I don't like about the oil company statement is that what I thought I learned about supply and demand is that if demand is down, price goes down to bring in more sales. When demand is up, price is up. They are saying that price goes up whether demand is up or down. I don't think that they should be working for free but their profits are in the billions.......

[Firefly]

The thing I don't like about the oil company statement is that what I thought I learned about supply and demand is that if demand is down, price goes down to bring in more sales. When demand is up, price is up. They are saying that price goes up whether demand is up or down. I don't think that they should be working for free but their profits are in the billions.......

Yup--- Gas seems to be the only thing that works in the opposite way. Crazy.

What irks me is not their profits so much as their lack of paying TAXES.

They have us over a barrel---- - LITERALLY-- an oil barrel !

Too bad when we went to war for oil.... we didn't actually GET SOME.....

[Sarge707]

The Spyders a bargain at about 3 -4 gallons for a Great afternoon.
I go through 15 Gallons of High Test in ,my 255 HP Sea Doo plus a couple gallons to get the truck to the river and back!

It costs about 10 Gallons on the Older 2 stroke Jet Ski SOO the Newer one may get sold?

[boborgera]

[QUOTE=Firefly;417444
Too bad when we went to war for oil.... we didn't actually GET SOME.....[/QUOTE]

We didn't go to war over oil, I heard the President say on national TV, '

' ''THIS WAR ISN'T ABOUT OIL''. [yea sure]