Downtown42

As I said before, GW will tell his buddies to start more production and thus prices will come down, drastically soon before election time so we all feel good again.

Saudi's are already talking about it now when they meet next month.

Unfortunately, we are suffering some now.

I do not think we should tap into our reserves. Save some just in case.

Ron P

I know this sucks but look on the bright side, at least they aren't claiming a BS shortage and making us sit on long lines to get gas.....like they did last time the prices jumped.

Don't buy any gas from Mobile or Exxon. It's our only way to fight back.

GregP

There was a nice piece by the AAA analyst this morning on the radio that from their analysis of crude, refining capacity (many refineries are making "other" products) and all the other "supposed" reasons there is no justification for the current level of gas price. When asked if the oil companies were gouging his reply was "I won't say gouging but someone is making a very handsom profit". Best reason I've heard so far is that Bush and Repubs want the high prices so they can push through there "drill anywhere you want" payback to their campaign supporters.

Want to do you own little test for gouging or not?

Gas is "roughly" 1/3 crude, 1/3 refining/transportation/profit and 1/3 taxes (you can adjust to your personal preference). Gas in DC metro went up 9c last week, or 5%. Since crude is only 1/3 of the cost, a 5% gas increase would translate to a 15% crude increase, or $6/barrel. Did you see gas go up $6 per barrel last week? I didn't (and that's ignoring that the prices quoted are small lot futures, not bulk contracts that comprise most of the real crude sales). So just where do you think the "extra" price increase is actually going?

my $0.02 - Greg

robyw1

If we would just drill in our own damn country then we wouldn't need the SPR

Roby

GregP

Nope, you always want to use up all the other guys resources first, then you sell him yours and really make a killing

-Greg

LostinBoston

This is the best way for now. If you dont like high gas prices, dont buy gas, find something else. a lot of fleets are converting to biodiesel, boston is looking into it, although boston politics suck and theyll find a way to screw it up even more.

LostinBoston

really? is this why the energy bill also includes many incentives for alternative fuel? why would they want people using alternative fuel if all they really want is to use our own oil?

cig1988

Mr. Bush is looking out for his future. I'm certain that if he does'nt win re-election he will be back tending to his oil buisness. My 2 cents

JohnJan

I'm doing my part. Started riding my Kawasaki to work more, 35mpg versus 15mpg in the truck. I'll see if it lasts when it's 90 degrees in the morning and 100 in the evening.

BK

Roby,

There are hundreds of full oil wells in Texas that were shut and capped in the 1980's. These owners have long said they woudn't start pumping again until there was another shortage and gas prices were over $2.00.

They are smart people - they know if they are patient and wait for global unrest and critical gas shortages (like now), they can become instant billionaires.