$5 A Gallon! (NY Daily News)

[ovidsen]

$5 a gallon!

As oil soars toward $100 a barrel, it's likely, experts say

BY PAUL H.B. SHIN
DAILY NEWS STAFF WRITER

Tight petroleum supplies amid soaring demand could drive crude oil prices above $100 a barrel by this winter, energy experts warned yesterday.

That could translate into gas prices of more than $5 a gallon at the pump and spike home heating oil an additional 30%, analysts said.

Iran's deputy oil minister, Hadi Nejad Hosseinian, fueled the paranoia yesterday by predicting that crude could hit $100 a barrel by the end of the year - $26 above even yesterday's near-record price.

http://www.nydailynews.com/news/wn_report/story/414256p-350211c.html

Why am I not surprised.

[arwalden]

1. Even Thought It's Spring... Should I Top-Off My Heating Oil Tank?

You know... while the prices are less than what they'll probably be in November?

[leftyladyfrommo]

4. Wouldn't be a bad idea - if storing it all summer won't matter

You might be able to save a ton of money.

I heat with gas so I can't do that.

[Theres-a]

6. Why not?

I'm getting my Thanksgiving turkey soon,what with the birdflu coming and all...Your idea seems prudent.

[TommyO]

64. I have my cans of Thanksgiving Tuna all stocked up

and you're right, it wouldn't be a bad idea to top off your heating oil tank now if you can.

[napi21]

2. I'd really like to find someone who could tell me the real story here!

In the last few days, I've heard the refiners are only making .08/gal, the stations owners are only making .02/gal, and all the cost is in raw crude! I would like to actually see a breakdown of how much raw crude it takes to produce a gal. of gas, what's the real cost of refining, what are the oil companies actually paying for the crude?

I've tried to put the individal pieces together to get those answers, and it simply doesn't add up!

[leftyladyfrommo]

5. It doesn't make sense.

The bottom line is that the oil companies are controlling the prices one way or another. Otherwise they wouldn't be making these huge profits.

[moroni]

9. Shareholders are first

Shareholders are first. Any company is in business to make profit. The CEOs are responsible to the shareholders and the bottom line. What ever the market can stand, they will sell at that price. I can promise you that only when we stop using it (decrease demand) will the price drop.

Here's one for ya. How'd you like to control a commodity that the demand will never go down and that there are no alternatives available, and that EVERYONE WILL use every day....

Give up?


Water. CLEAN drinkable water. ... and the means to transport it, ie. pipes (copper, pvc, etc).


Blessings to all,
moroni

[Wise Doubter]

20. This`ll get`cha killed...

http://waterpoweredcar.com/


Stan Meyer was killed at some dining event.

Hmmmm?

http://video.google.com/videoplay?docid=2464139837181538044&q=It+Runs+on+Water&pl=true

[acmavm]

36. Shareholders are first? Well, how does that equate with

400 million dollar retirement packages?

[TX-RAT]

39. Check your board of directors for that answer.

They're the ones who approved it. Sounds like the stock holders need to vote in some new directors.

[notadmblnd]

48. you answered your own question...

no doubt, he's a major shareholder.

[corporate_mike]

18. Incorrect. Chavez and OPEC control oil prices

Chavez has been cutting production to drive prices higher.

[phusion]

24. source? n/t

[rustydad]

28. Wrong

The only producing countries that have reduced available production are Nigeria and Iraq. And this is due to strife not manipulation. The world is at Peak Oil. Prepare for a decent into world chaos. Bob

[converted_democrat]

33. Do you have a source for that? You've claimed this before, and you

never back up your statements..

[Commie Pinko Dirtbag]

47. This is really getting tiresome.

It's as if Chavez owns the OPEC, Middle Eastern countries be damned.

It's not working, capisce?

[Amonester]

10. And Herr "Raymond earns a whopping $144,573 a day."

Saturday, April 15, 2006

ExxonMobil CEO Lee Raymond A Greedy Pig

While many Americans are struggling to pay exorbitant prices at the pump, ExxonMobil CEO Lee Raymond is pumping millions into his personal bank account. It turns out that Raymond earns a whopping $144,573 a day. Now we learn that the selfish corporate hack's total compensation package is more than $400 million.

http://www.waynebesen.com/2006/04/exxonmobil-ceo-lee-raymond-greedy-pig.html


"earns" is a too kind word... ("rob$" would be a better one in hi$ - their - ca$e($))

[UpInArms]

11. vertigral integration - refiners = producers = equal same pockets

for all profits.

[Terry in Austin]

13. Gas prices related to crude prices

Here's a good overview on what goes into the price of a gallon of gas. The DOE graph ("Components of Retail Gasoline Prices") tells the tale in a nutshell: in the price of a gallon of gas, crude accounts for 56% of the price, manufacturing/refining/distribution accounts for 28% and taxes, 16%.

Going by that, $100 crude would mean gasoline at just under $4.00 per gallon, not $5.00.

[phusion]

23. I think they also consider

the compounding transportation costs involved in getting fuel to stations from refiners. That might add a bit over $4, but maybe not a whole buck. Thanks for the link...

[Tesha]

16. The oil companies are carefully constructed so that they...

The oil companies are carefully constructed so that they
pay themselves for the crude that they're moaning so loudly
about.

You can't tease apart where they're making the money.

Tesha

[rustydad]

27. Cost

Refiners get about 1 gallon of gasoline from 2 gallons of crude. The other gallon of crude is made into other products like heating oil, diesel, etc. A barrel of crude is 40 gallons. So $75 gets a refiner 20 gallons of gas plus 20 gallons of other products. Likely the total value of the 40 gallons of crude as various products is now $120. But $45 is not profit. There are costs of shipping the crude, refining the crude, and shipping the products. The price of crude will go up as demand outstrips supply. It is the difference between a buyers market and a sellers market. We are for the first time in history entering a sellers market because the world is at *Peak Oil*. The middle men as in refiners, retailers, etc will make more as crude price rises because their income is a percentage of the retail cost. We are screwed and only by changing life styles as in ride a bike can we avoid the disaster ahead. Bob

[TX-RAT]

35. A barrel of crude is 42 gallons.

[reprobate]

32. Refineries are now at 80% capacity, not the normal 95%, so say recent

articles (sorry, no link - just remember reading it in the last few days). Meaning that the shortfalls that keep the prices rising are artificial. Notice that they refuse to build new refinery capacity? What does that mean to you?

It's all manipulated by Mad George's buddies to screw us.

[stevekatz]

52. you do know

That a large percnetage of the refinerys in this country are in texas/lousiana are were damaged big time in Katrina/Rita?

These things aren't fixed overnight.

[reprobate]

60. Yes, and the article had discounted those refineries.

[TX-RAT]

34. You get about 18 to 21 gallons of gas from a barrel of crude.

The cost of lifting runs about 5 to 15 dollars a barrel, depending on method of retrieval. In the late 90's when oil was down to 8.50 a barrel, many wells were shut in around here.

[stevekatz]

53. oil was never

$8.50 a barrel in the 90s, the last time it dipped down to $10 was in the mid 80s.

[TX-RAT]

61. Sorry but your wrong.

We sold west TX intermediate for 8.50. Not all oil sales for the same price. Some junk oil or high sulfur oil went for 6.50.

[northzax]

54. the big oil companies

have long term contracts for lower prices.

[TOhioLiberal]

62. ask and ye shall receive!

http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp
this page gives a breakdown of a gallon of gas.
http://www.gravmag.com/oil.html#dollar
This page, a little out dated has a lot of good information. What I found astounding is the table at the bottom of the page, which has the breakdown of a $2.65 gallon of gas.

What little I've found out:
42 gallons of crude per barrel yields 19 1/2 gallons of gas (and other products)
The US uses 20 million barrels of gas a day.

Hope this helps :shrug:

[libodem]

3. Yep, they sit in meetings and make goals

this year $100.00-$120.00. Next year $200.00. Then they have the unmitigated gaul to blame environmentalists for resisting drilling in An war, and having standards for building new oil refineries. It's the Liberals fault. We should have a well thought talking point everytime they pull that BS. Why, haven't they used any of the windfall profits to make modern clean-air-standards refineries. It takes 10 years to complete...start now!!!! They like to keep the demand HIGH.

[Skink]

7. Oh what the hell let's just attack Bolivia..

they have it coming.

[CoffeeCat]

8. Home heating oil and ADDITIONAL 30 percent?!?!?!

...on top of skyrocketing costs and heating bills that are through the roof???

There is no way that the middle class can pay or sustain such prices.

This is a national emergency--if this is true and if those high prices do, in fact, happen.

Our heating bill used to be around $100 monthly. Last year, it was around $300. So, they're telling us that now, we'll be paying around $400???? That's a 75 percent increase, from a few years ago (someone correct my math, if I'm wrong, please).

There was a local story in Iowa about the high heating bills. There are more people behind on their home heating bills than EVER before. The number--just in our state--is in the tens of millions of dollars.

These prices are not sustainable.

[robbibaba]

21. It's not just the prices that are unsustainable.

Our entire investment in the suburban infrastructure is not going to look very sensible. Basically, we're fucked.
In Northern California some small towns are already planning for local sustainability and survival. We'd all better get really good at gardening really quick. And figuring out how to stay warm.

[BreweryYardRat]

37. Actually, that's a 300% increase.

Seventy-five percent of $100 a month would be a new cost of $175.

[kestrel91316]

12. At $5 a gallon, traffic will be so light here in Lost Angeles that I will

finally be able to ride my bike to work SAFELY!!!!!!!!!

Bring it on. I will cope.

[lutefisk]

19. Traffic might be light because people will be out of work. n/t

n/t

[kestrel91316]

57. Well, that too. (you HAD to bring that up and make me even more glum)

[neverforget]

45. Not to metion the cost of everything else that is transported or

made with oil products. It's going to be a long hard summer for everyday Americans. The haves and the have-mores will not suffer, but the rest of us will.

[kestrel91316]

56. Tell me about increasing costs........here in CA, where we grow everything

I paid $1.49 the other day for a single, rather small, green bell pepper, and NO, it was NOT organic.

[WalrusSlayer]

14. Come on folks, what do you expect?

Does anyone really think $3 is the high point?

Energy, in the medium-to-long-term, is going to get much more expensive. Count on it, and make your plans accordingly.

[TechBear_Seattle]

15. Could someone be a dear...

And provide a link to the GOP talking-points from the 2000 campaign, wherein $40 a barrel oil and $2 a gallon petrol were condemned as Democratic treason against the American public?

Thanks. :hi:

[AX10]

31. Actually, it was a 1.65 in 2000.

[bleedingheart]

17. I will work from home to conserve fuel....

[robbibaba]

22. I'm seeing more folks riding bicycles in my neighborhood.

Up maybe 30% or so.

[bleedingheart]

25. I wish I could bike to work but it is 36 miles away...and that

would mean me getting up at around 4am....hahahaha...but I do recommend it for those who can!

I wish more roads had bike lanes...

[yasmina27]

49. What do you do?

I drive 20 Mi. to work - by choice - but I also drive a Prius. I would LOVE to work from home (but teaching French doesn't lend itself to work at home)

I laugh at the Hummers I see along the way :)

[bleedingheart]

51. I am an engineer in a very specialized field...

I do a lot of consulting type work...that can be done from the office or home...

[AndyA]

26. The Bush Administration's Energy Policy is working.

Everything's going just great.

I hope this angers every Republican and all who voted for Hitler Bush when they fill up their tanks or open their home heating bills. They're getting exactly what they deserve!

Of course, the rest of us also have to pay for their stupidity...

[goforit]

44. Yep, the Bush "Robbing America in broad daylight" policy is working!

[Haole Girl]

29. This is a direct result of the Bush administration

and nobody can convince me otherwise. Between Chavez and Iran hating the US more than ever, and Bush's lack of diplomacy, I'm surprise gas is not already $5 per gal.

[AX10]

30. If the price keeps rising througout the fall....

then the GOP can kiss the congress good-bye!

[BigDDem]

38. Where's my

$100 from Frist??!!??

[DS1]

40. Doesn't add up

If it's 3 dollars a gallon now, and oil is at 73/barrel, why does the price of gas have to go up to 5 dollars ( 66% increase ) if oil is going up to 100 ( 25%) increase?

66% vs 25 %

and who's not making any money off this?

[TX-RAT]

41. and who's not making any money off this?

The consumer.

[DS1]

42. rhetorical question

with a dose of :sarcasm:

[The_Casual_Observer]

43. It's a clearly a non linear scale. Notice how these non linear

things ALWAYS work out in favor of the guy holding the goods?

[taught_me_patience]

46. It will have absolutely no impact on my driving

A $2.00 rise in gas will equate to and extra $80/month (my car gets 30mpg). This equals less than 2% of my take home pay. I don't think I'll effect most people in Los Angeles who are making a good wage.

[L.A.dweller]

58. Ok. Well, it affects students

like me who have to work part time jobs that don't pay a spick of shit.
I'm working part time until I finish the classes that I need to apply
for an internship/better job.

[taught_me_patience]

59. It definitely will

I know how you feel... when just starting out, its sometimes hard to make ends meet. When you look to buy your next car, if your budget is 5k, then try to spend 4k. That way the extra 1k that you save will pay for the extra cost of gas (if it were $5/gal) for an entire year. Hopefully, then you'll be able to absorb the gas price increases from then on.

[MessiahRp]

50. We do have the largest stockpile in our oil reserves ever..

When gas started to rise too high during the Clinton Administration he released a few hundred million barrels for public consumption and the price came down. We have more than we've ever had at any point in the US' history and Bush won't release a single barrel.

Hmmm.

Rp

[mile53]

65. Bush Halt Shipments to Stockpile

". . . Bush won't release a single barrel."

Not completely accurate.

http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20060425-000615-1013

[MessiahRp]

66. No that is different...

Releasing them from the stockpile already obtained is different than halting the purchasing of new amounts to be stored.

So yes that is accurate.

Rp

[Carni]

55. I have always aspired to moving back in with my parents at 42

What the hell is wrong with you people? Freedom is on the march!

Come on now recite it with me...

"I am a useless LOSER asshole, that should be damned glad I serve at the pleasure of this pRESIDENT."

OK I just made myself sick :(

[4dsc]

63. GOOD!!

EOM!!