Oil is $67/barrel; not the $70 it was during katrina last year, yet gas prices are well above

[Deja Q]

what they were last year when oil topped at $71.xx.

I gotta agree; the oil companies are probably jacking it up because of the May 15 no-purchase day. (So we're all paying today and Wednesday. No big deal for them.)


http://www.wtrg.com/prices.htm
(a non-related but interesting article)

[Jim Warren]

1. $62.66 today

http://www.bloomberg.com/energy/

Everything else you said is right on.

[Viva_La_Revolution]

2. My r/wing boss said something about that today

and if he knows about it, then r/wing radio is talking about it.

[Skip Intro]

3. right, we're in record terrirtory BEFORE the start of the hurricane season

nowhere to go but up...

[RL3AO]

4. It was about $78 after Katrina.

[Deja Q]

5. Thx for the correction.

:thumbsup:

[B Calm]

6. It costs a lot to switch over to summer blends... sarcasm

[Jackpine Radical]

11. Especially since they had now way of predicting

that they would have to do this.

[Subdivisions]

7. Gasoline inventories fell for 12 straight

weeks due to refinery and import issues. Last week, we gained less than 1/2 million barrels. And http://www.bloomberg.com/apps/news?pid=20601072&sid=aR38ujNqdS38&refer=energy">multiple refinery problems around the world are adding to the supply problems.

Edited to add: Demand for gasoline in the US is breaking records weekly also, which puts even more pressure on supplies. Pressure on supplies means higher prices.

[Vinnie From Indy]

15. LOL!

Refinery problems are without question the lever used by Big Oil to collude to manipulate prices. Refinery problems are ONLY a problem for the oil industry because they want it that way.

[leftofthedial]

8. well, they're spending about .01 cent per gallon

on the PR campaign that all the major media are conducting to convince us that the price is legit and not gouging


this is criminal. Of course it hurts. You're being screwed by an elephant.

[whistle]

9. Yep, it's called price gouging

[wildbilln864]

10. got to keep rolling in that...

30 billion per quarter! :grr:

[dweller]

12. about time to start jawboning

blah,blah,blah. . . fricking *moron.

dp

[Lint Head]

13. We are being raped by coporate America and no one is

coming to our rescue. Just as when a sexual rape occurs the advice is to scream, to fight. We must do the same.:dem:

[Individualist]

14. Oil companies are jacking it up because they can,

and they'll continue doing so.

[RB TexLa]

16. Gasoline and oil are two different markets

[TheFarseer]

17. Ever heard Bill O'Liely's take on this?

he's spot on for once. It's a supply and demand game rigged by oil companies. They are creating shortages by shutting down refineries and blaming the greenies. We haven't opened a refinery in 30 years while we've been shutting them down with every merger on the way to complete monopoly. I hope the morons that listen to him will absorb this concept.

[Jim Warren]

18. and since they know that are a sunset industry

they ain't likely to build any refineries either. With record profits, why would they?

[joshcryer]

22. That's what *I've* been saying for years! The oil companies are using environmentalists.

They *want* these restrictions because it means incredible profits. I say we build more refineries, but that probably wouldn't go over too well here.

[brokensymmetry]

19. Light Sweet Crude peaked two years ago.

So the refineries now use heavier crude, sour crude, and
combinations thereof. Getting the gasoline from this
mix is harder.

And, too, refineries are working at 90% capacity - so
there's no time for maintenance. Until they break.

If you like the price structure now, wait a bit. The
current prices will seem like a bargain.

[brokensymmetry]

20. Light Sweet Crude peaked two years ago.

So the refineries now use heavier crude, sour crude, and
combinations thereof. Getting the gasoline from this
mix is harder.

And, too, refineries are working at 90% capacity - so
there's no time for maintenance. Until they break.

If you like the price structure now, wait a bit. The
current prices will seem like a bargain.

[guitar man]

21. pfft, that's easy

lower price per barrel plus higher price at the pump equals even bigger profits. :crazy:

gotta keep funding those $400 million retirement packages :grr:

[AndyTiedye]

23. Jacking the Prices NOW Because Congress is Voting On Opening Up More Areas for OIL EXPLORATION

Jacked up extra high in blue states because we don't vote their way.

[karlrschneider]

24. Chimp is still sharpening his 'jawbone'...

:eyes: