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 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)
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.
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:(
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.
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/article.cgi?f=/n/a/2008/06/12/financial/f133359D69.DTL
Doug
I think I just better clarify that I did not want to go down the path of “US is getting it cheap” or “its an oil company ripoff” or any other blame or political comment.
Just purely interested in prices across various places all in the same lingo.
According to friends in the UK, the prices this week are:
1 litre = 1.30 GB pounds
That works out to about $11.50 per US gallon.
Now it’s worth pointing out that many European countries use a heavy tax on fuel to pay for their vast social programs and, of course, the UK is one of these. So the price is not really linked directly to suppy/demand issues, the petrol over there has always been far more expensive than it is in the US.
In the case of the UK, their tax is a % of the cost of a litre rather than a fixed price per gallon. Think about that for a second. With that kind of scam, the higher the price of the raw gasoline, then more tax that gets added as well. Ouch.
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.
In the case of the UK, their tax is a % of the cost of a litre rather than a fixed price per gallon. Think about that for a second. With that kind of scam, the higher the price of the raw gasoline, then more tax that gets added as well. Ouch.
Grouse[/quote]
This is the case in California…[maybe the only state that does it that way]…they must be drooling…the gov. that is…
I read an article in Readers Digest on stretching out your MPG. There were people getting 100-150 mpg in non-hybrid cars (of corse these were extreme hypermilers). I have since trying some of these techniques and have been surprised at the extra mpg I have been getting. Take a look http://www.hypermiling.com/
As some of you may remember, we drive a bright red Sebring convertible, lotsa chrome, I make it a RULE to never be the first one across the intersection when stopped at a traffic light. I accelerate slow enough that the car alongside of me always gets through first. Safer (in case someone is running the light) and saves me fuel. Most want to beat me anyhow.
Honestly the whole oil issue is a scam based on one Arabs opinion of their oil supply. No data has been presented on their field. Also if you realy study the subject we have not even come close to tapping all the oil that is available. You can say what you want, but this oil situation started by one country is a good terrorist plot to make this country pay for IRAQ and other political issues. Maybe it’s time to go find and tap our own oil and say goodbye to the middle east once and for all. Maybe if we just stop buying there oil there stangle hold they have will be lossed to the point they have to give up. We should be asheamed of ourselves buying from a country that treats it’s general population like Crap and treats women like beasts and raises childen with guns to fight off us Americans. The oil companies are reporting huge profits and we are suppose to feel sorry for them. Maybe they should feel sorry for us and cut part of there profits back and help this country get through this crisis. Maybe we also need a president along with some other politicians that is not a part of the oil industry. You can make all the excuses or statements you want, but this and lawyers will be the fianl down fall of America. I believe it’s time to take our country back.
Hmmm. I think Eric (nighthawk) made a superb point in another thread about NOT buying gas from companies that import their oil from the middle east. Or Venezuela…
You’re right, Gringo… no one seems to have read what you actually asked about, in your original post and instead, wish to have a political rally of sorts.
So, to ANSWER what you really posted about…
Here, on the North Coast of Oregon we went up to $4.25 @ gallon, this morning for Regular unleaded and $4.79 @ gallon for diesel.
(Yesterday, morning, it was $4.13 @ gallon, in the afternoon it went to $4.19, then this AM, it jumped to $4.25)
