Fuel prices (OT)

[Gringo]

Am I allowed to talk about his? Its just that I have been watching on the TV lots of riots, demonstrations and so on all over the world in frustration for fuel prices. I feel that the ability of people to adjust their lifestyles and driving habits, shuffle routines and re-prioritize expenditures seems to be about exhausted. Many people must be at their limit, they obviously just cannot pay any more or change any more either.

I wonder where this can lead?

Anyway, as this is truly a global community or friends here I just thought it would be interesting if we could avoid the politics and so on; convert our various currencies to US dollars; and if we work in liters (like the rest of the world does) multiply by 4.5 to come up with out local price for petrol per gallon (US.) (OK I know, its near enough anyway.)

Wanna join me on this? I'm very interested. I'll start:

In Australia we are paying $7.65 US/gallon.

[MTSkibum]

In Australia we are paying $7.65 US/gallon.

In america last year the oil industries actually made less profit per dollar invested than the average industry, quite a bit less if you throw out the auto industry.

Thankfully our US oil industry is willing to make a less than average % of profit. That allows us to have a cheap 4 $/gallon. Our gas would be even cheaper had our US dollar not dropped over the last year.




If you dont think we have cheap gas, go look up what the rest of the world pays(except china, the government subsidizes their gas industry)

[Mike Thomas]

Hey Gringo, We have just had another raise in the price of Fuel, it is now NZ$2.17 per liter, I do not know how that converts to U.S. dollars but I can tell you that the Gas co only gets about $1.25 of that and the rest is syphoned off by the gov in taxes!
All the best.
Mike.

[whichwayout]

I am near Santa Barbara along the central coast of California and gas is now $4.69 a US gallon. Its ironic that where I live oil seeps out of the cliffs and the ultra enviro's have made it where were not allowed to pump it. We have off shore rigs, I heard will have to stop pumping when there leases are up and leave the remaining oil there. My guess is we have found oil all over but will never get to pump it until policy changes.
Hold on its not over yet

[gonfishn]

http://www.peakoil.com/fortopic41189-0-asc-0.html

Page 2 of this link has a comparison of fuel prices across Europe VS US price
also some commentary on tax%

[DShock]

Quote;Exxon Mobil is not alone among Big Oil exiting the retail gas business, a market where profits have gotten tougher as crude oil prices have risen. In fact, industry officials say the major oil companies own fewer than 5 percent of U.S. gas stations.
Gas prices reached a new record at the pump Thursday, rising to a national average of $4.06 a gallon. Still, station owners say they're struggling to turn a profit on gas because while wholesale gasoline prices have risen sharply in recent months, they've been unable to raise pump prices fast enough to keep pace.
Most gasoline retailers long ago got past any illusion they can make money by selling gas. They rely on gas sales to drive traffic to their shops, where they hope auto repairs or food and drink sales will help them turn a profit." End Quote.http://www.sfgate.com/cgi-bin/articl...f133359D69.DTL
Doug

[socalsalt]

I am near Santa Barbara along the central coast of California and gas is now $4.69 a US gallon. Its ironic that where I live oil seeps out of the cliffs and the ultra enviro's have made it where were not allowed to pump it. We have off shore rigs, I heard will have to stop pumping when there leases are up and leave the remaining oil there. My guess is we have found oil all over but will never get to pump it until policy changes.
Hold on its not over yet

I take it you did not live in Goleta in 1969?

[Normand]

heres a video called the "EnergY Non-Crisis" by Lindsey Williams

http://video.google.com/videoplay?do...74697167011147

note: it is 1 hour and 15 minutes long but very interesting

Form your own opinion!

[Flyrodde]

It is simple supply and demand.

Unless people stop using oil products, we are pretty much stuck with paying what they offer the products at.

There really is not much oil left in the earth, and it will only last so long. It is time to find and develope renewable energy. We could have done this years ago but then it was not "cost effective" now it will be. Yet one more time greed has slowed evolution.

I don't cry over the cost, it won't do anything. I keep my truck running well, and do all I can to maximize my effeciency. I have a 2002 ford ranger with a 4.0 engine. I use this in my construction business and have been averaging 19 mpg mixed hwy/city. I drive between 300-500 miles a week. At latest fill up I paid $4.189 per gallon. Until I can convert to bio diesiel I am stuck raising my labor prices along with the rising material prices. The market will only let my raise them so much before I start to loose work. It is a balancing act that many small businesses are going through. Couple this with increased competition and something is going to give. I take it one day at a time, nothing more I can do.

[MrFishingToughGuy]

The United States government has historically (regardless of administration) helped lower the price of oil for domestic consumption by giving middle eastern oil-producing nations, particularly Saudi Arabia, US treasury bonds. While in years past this has helped reduce what we pay at the pump, the value of the US dollar and economy overall has declined to the point where those treasury bonds are all but worthless. Do the math. Still, we are able to keep fuel costs lower than the rest of the world because we do produce oil domestically and refine it domestically.

The reason profit was so "low" last year percentage-wise is because these companies were busy pursuing upstream business - exploration and drilling. So is the case with any profitable but limited resource, especially when the resource is becomign more and more difficult (read: expensive) to find.

Staggering that ExxonMobil's net profit was roughly $1300 per second in 2007. Don't know how much of that went back into the US economy as money or jobs.

So I find myself driving a little less and maintaining our cars a little better than before, and anticipate that fuel economy will be a top priority for our next new car.