Will Gasoline Prices Surge Overnight Due to Record Crude Oil Prices?

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Discussion Overview

The thread discusses the recent spike in crude oil prices and its anticipated impact on gasoline prices. Participants share their personal experiences with fuel prices, express concerns about affordability, and discuss potential actions regarding oil drilling and government responses.

Discussion Character

  • Anecdotal
  • Opinion-based
  • Debate/contested

Main Points Raised

  • One participant notes that crude oil prices have spiked over $140 per barrel, predicting a significant increase in gasoline prices overnight.
  • Another participant shares their experience of topping off their tank at $3.89 per gallon before the anticipated increase.
  • Several users mention their local gas prices, with some already exceeding $4 per gallon.
  • One participant expresses concern about the impact of rising gas prices on minimum wage workers and mentions local government measures to reduce commuting costs.
  • Another participant highlights the financial strain on families due to increased fuel costs, particularly for those commuting long distances.
  • Some participants discuss the idea of offshore drilling, expressing differing opinions on its necessity and safety.
  • One participant shares a personal anecdote about a family member's experience in the oil industry, discussing the challenges of U.S. oil production and refining capabilities.

Areas of Agreement / Disagreement

Views differ on the effectiveness of government actions regarding fuel prices and the necessity of offshore drilling. Some participants express agreement on the financial burden of rising gas prices, while others focus on the potential solutions.

Contextual Notes

The discussion reflects a range of personal experiences and concerns related to fuel prices, commuting, and the broader economic implications of oil price fluctuations.

Who May Find This Useful

Participants within the community who are interested in the economic impact of fuel prices and those looking to share personal experiences regarding gas costs may find this discussion relevant.

baychef said:
My SIL's sister just retired from Conaco. She is a ripe old 50 or 51 years old. She was a geologist and has so much money, she just buys what ever she wants. I do not begrudge her this because she is very smart and has lived in Norway, Houston, New Orleans and has been far away from her family for her adult life.

A few years ago, my brother asked her why we couldn't just use our own oil for our country. She said that the US doesn't have the refineries it needs and that it would be extremely expensive. (and this is when gas was between $1.00 and $2.00!!!) In addition, she said that it would take decades to get it up and running.

When watching the heads of the major oil companies speak on Capitol Hill, I was sickened. Their answer to their record profits was that most of that money was reinvested (how, into more stock, into finding alternative fuels, into lining their own pockets?) I know there are those that are going to get rich, I know that it costs money to look into alternative fuels, etc. but where does it stop.

Love the cartoon, KG, but I think it doesn't just stop at Congress. Our president asked Saudi to pump us more oil and they said no. The problem lies in the consumption and pumping more is not a solution.
Anyone who was old enough when Jimmy Carter was president remembers that you could only gas up on "odd and even" days. (If your license plate number ended with an odd number, you could only pump gas on an odd day of the month). Not sure if this helped, but there were steps made as you point out in your blog, KG, that we started to try to look into this years ago. Then it stopped. Here we are again.

If I rode my bike to work two things would happen. First, I would have a freakin heart attack and second, if I didn't have a heart attack, it would take me hours to get to work...and stink:eek: :cry:

We have many Amish in the area and I think they have the solution. My buggy will not be black but it will look more like a Woodstock work of art so it can be seen!!! Bet they would love that in the parking lot here at school!!:D
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And the fact that we reached peak oil levels about a decade ago- so there really isn't much more for them to drill. I'm for drilling where it is necessary and there are not as many dangers to animals and environment when it comes to drilling and refinery's like they lead you to believe...
 
Kitchen Diva said:
I like you more and more each day crankycat! :)
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Well, I'm slightly off my rocker. :) I guess having lived overseas has made me more opinionated than I was before.:eek: (God help us all!!) I see things here that just make me want to smack some of those politicians (probably butchered the spelling on that one) back home upside their ignorant little heads.:grumpy: Sometimes you need more common sense & not as much book smarts, ya know?
 
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Yup - filled up yesterday - my truck just "binged" when I pulled in - put 100 dollars in it and it was the mark before F - not even full! $419.9 - going to start using my dd's car - my surburban eats the gas!
 
kathijenkins said:
Well, I'm slightly off my rocker. :) I guess having lived overseas has made me more opinated than I was before.:eek: (God help us all!!) I see things here that just make me want to smack some of those politicians (probably butchered the spelling on that one) back home upside their ignorant little heads.:grumpy: Sometimes you need more common sense & not as much book smarts, ya know?
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My best friend from high school was like that- dumb as a brick when it came to common sense but brilliant as far as book smarts was concerned.

I agree that they need to start using common sense when it comes to this. We are in the middle of an energy crisis and they need to stop with the pecker envy and pull their heads out of the sand and start making some smart decisions where the people that voted them in office are concerned...

(btw- I'm rather opinionated myself)
 
PamperedDor said:
Yup - filled up yesterday - my truck just "binged" when I pulled in - put 100 dollars in it and it was the mark before F - not even full! $419.9 - going to start using my dd's car - my surburban eats the gas!
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DH has only driven his pick-up a couple of times to the compost heap since he's lost his job. It costs about the same just to fill it up. Glad I downsized to a Buick from my SUV. I hate that I don't have one, but for now I'll live with the fact that I'm back in a car (even though it's a large car!) :)
 
We're paying about $4.81 a gallon here :eek: :yuck: ($1.27 a litre, 3.79 litres to a gallon so 1.27 x 3.79 = $4.81!!! And we haven't even had our weekly increase yet! :eek:
 
Just read your blog KG...good info!!! Was listening to someone on NPR that was allowed to go into Russia and visit their drilling in Siberia. Very interesting.
We are in a tourist area and boating is a big thing for the next three months. It will be interesting to see if that falls flat. We share the Seaway with Canada so we are anxious to see if it effects Canadians as well.

Gotta run and consume my fair share of oil!!!
 
Marine Gas was already on the news here locally, a couple of weeks ago.
 
Kitchen Diva said:
But then again, stupid is as stupid does!
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And you can't fix stupid!!!
 
Kitchen Diva said:
[/B] My best friend from high school was like that- dumb as a brick when it came to common sense but brilliant as far as book smarts was concerned.

I agree that they need to start using common sense when it comes to this. We are in the middle of an energy crisis and they need to stop with the pecker envy and pull their heads out of the sand and start making some smart decisions where the people that voted them in office are concerned...

(btw- I'm rather opinionated myself)
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Just goes to show you, great minds think alike!:D
 
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  • #41
baychef said:
We have many Amish in the area and I think they have the solution. My buggy will not be black but it will look more like a Woodstock work of art so it can be seen!!! Bet they would love that in the parking lot here at school!!:D
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The do-gooders are after them, too. There are proposals being kicked around by the same moonbats that want you to carry a carbon footprint card. They want to tax owners of livestock for animal emissions.I am NOT making this up.
tinfoilhat.jpg
 
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I live in a flying community and everyone is complaining about the price of AVGas, I think it's already over $5 a gallon. Every evening there is usually about a dozen neighbors flying around, not so much lately :(
 
The_Kitchen_Guy said:
The do-gooders are after them, too. There are proposals being kicked around by the same moonbats that want you to carry a carbon footprint card. They want to tax owners of livestock for animal emissions.

I am NOT making this up.

tinfoilhat.jpg
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Say what?!?!? :grumpy:
 
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  • #44
Yes, the same moooooooonbats that want to tax you for your carbon footprint also want to tax farmers for livestock flatulence.We are nuts. And we are getting nuttier.As Pogo said so well, "We have met the enemy and he is us."
Pogo_-_Earth_Day_1971_poster.jpg
 
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Oy Vey - is it happy hour around here or what??? LOL!
 
I've changed my career path.

Today's $11 spike in oil prices had nothing to do with supply/demand. Is the world really demanding $11 a barrel more oil than we did yesterday? Um. No.

Today's spike was because a foreign oil minister (and let's all remember where he makes his money....) said that oil could get to $150 by July.

So, investors, who, I think are the masters of self-fulfilling prophesies, decided to buy buy buy, which ran the price up up up.

In my new career, I want to become an expert enough at something that I can say, "I think oil will be like $2 by July" and pretty soon we can all fill our tanks for $1.50.

For crap sake....why can't the buyers see through the hype?
 
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  • #47
Jean, that had everything to do with demand. When the buyer see that kind of analysis, they panic and the market reacts accordingly.It's just like the dairy and bakery departments at Kroger when the weather forecast says we're going to get 18" of snow - whether we actually get 18" or not.
 
What exactly would this carbon footprint card be for, KG?
 
The_Kitchen_Guy said:
Jean, that had everything to do with demand. When the buyer see that kind of analysis, they panic and the market reacts accordingly.

It's just like the dairy and bakery departments at Kroger when the weather forecast says we're going to get 18" of snow - whether we actually get 18" or not.
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I meant it didn't have to do with end consumer supply and demand. It had to do with investor supply and demand.

Or rather, investor demand.
 
Kitchen Diva said:
What exactly would this carbon footprint card be for, KG?
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I'm wondering that too.....

and what does it mean to get green credits?


I don't get it?:confused:
 
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Jean DeVries said:
I meant it didn't have to do with end consumer supply and demand. It had to do with investor supply and demand.

Or rather, investor demand.
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That's the way the world oil market works.

It is also how just about any futures market works. It is neither good nor bad. It is the way it is.
 
Ugh...$4.42 is the absolute cheapest today. Not good.
 
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  • #54
ChefBeckyD said:
I'm wondering that too.....

and what does it mean to get green credits?


I don't get it?:confused:
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It's one of the hairbrained schemes being proposed by the Sky Is Falling crowd. You would be allocated a certain amount of emissions credits by the carbon police, within national carbon budgets that are going to be assigned by some international governmental body. You'd be given a card with X number of carbon credits and have to surrender credits when buying fuel or electricity.

It is masquerading as a do-gooder way to save the earth but in reality, it's just another way for bureaucrats to collect more taxes from you, limit your freedom and gain even more control over your life.
 
The_Kitchen_Guy said:
It's one of the hairbrained schemes being proposed by the Sky Is Falling crowd. You would be allocated a certain amount of emissions credits by the carbon police, within national carbon budgets that are going to be assigned by some international governmental body. You'd be given a card with X number of carbon credits and have to surrender credits when buying fuel or electricity.

It is masquerading as a do-gooder way to save the earth but in reality, it's just another way for bureaucrats to collect more taxes from you, limit your freedom and gain even more control over your life.
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What???? That is just insane. I bet Al Gore thought that up didn't he?:grumpy:
 
The_Kitchen_Guy said:
It's one of the hairbrained schemes being proposed by the Sky Is Falling crowd. You would be allocated a certain amount of emissions credits by the carbon police, within national carbon budgets that are going to be assigned by some international governmental body. You'd be given a card with X number of carbon credits and have to surrender credits when buying fuel or electricity.

It is masquerading as a do-gooder way to save the earth but in reality, it's just another way for bureaucrats to collect more taxes from you, limit your freedom and gain even more control over your life.
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Um, hello? Can we say Socialism?
 
ChefBeckyD said:
What???? That is just insane. I bet Al Gore thought that up didn't he?:grumpy:
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Either that or Ed Begley Jr. I'm just thankful that Al Gore had the foresight to invent the internet! :p
 
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  • #58
Most of this insanity has been coming out of Europe and England is considering the legislation.Actually, Ed Begley, Jr. is one of the few who not only talks the talk but walks the walk. He has made great efforts to conserve and be "green." He has been a fan of, and he's been driving, electric cars for some some time.Of course, electric cars are not really green. They simply move the exhaust from the tailpipe to the smoke stack of the power plant that provides the electrical service he uses to charge the batteries. Oops. We weren't supposed to notice that.
 
;)
The_Kitchen_Guy said:
Most of this insanity has been coming out of Europe and England is considering the legislation.

Actually, Ed Begley, Jr. is one of the few who not only talks the talk but walks the walk. He has made great efforts to conserve and be "green." He has been a fan of, and he's been driving, electric cars for some some time.

Of course, electric cars are not really green. They simply move the exhaust from the tailpipe to the smoke stack of the power plant that provides the electrical service he uses to charge the batteries.

Oops. We weren't supposed to notice that.
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I know Ed is a walker of the talk... I was trying to be funny...:blushing: ;)

It's sad to watch things spiral out of control. Let me know when some of you are ready to storm the castle gates. I am gonna buy a pitchfork this weekend so I'm ready when you all are! :)
 
If I didn't live in the boonies, I would ride a bike! Great excercise.
Only prob is the crate will be hard to take to shows:D
 
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