OT: About those gas prices and gouging

roswelllion

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So we are driving cross country. Paid 6.84 for gas in Lake Havasu Ca on Sunday. Paid 3.49 for gas today in Elk City OK. So if in fact we are getting gouged exactly who is doing the gouging?
 
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Obliviax

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So we are driving cross country. Paid 6.84 for gas in Lake Havasu Ca on Sunday. Paid 3.49 for gas today in Elk City OK. So if in fact we are getting gouged exactly who is doing the gouging?
according to this, CA gas is taxed at $.51 per gallon. However, CA also requires more stringent refining processes that add to the per gallon costs. This is done for the obvious pollution issues if you've ever been to LA during an inversion. Of course, supply and demand is an issue as well.
 

horace19040

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Aug 12, 2021
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So we are driving cross country. Paid 6.84 for gas in Lake Havasu Ca on Sunday. Paid 3.49 for gas today in Elk City OK. So if in fact we are getting gouged exactly who is doing the gouging?

The states gouging you. You did not find $3 a gal in California and there was not #6/gal in Oklahoma.
 
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roswelllion

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I thought Lake Havasu was in Arizona
It is actually right on the border. The Colorado river divides the states. Not sure about the actual lake but exit wa Lake H. So we paid for gas and my wife says hey I just saw a billboard advertisement 5.59 so 1.30 cheaper. Turns out it was at the first exit in Ax. Stupid me for not paying attention.
 

DrJC

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May 29, 2001
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So we are driving cross country. Paid 6.84 for gas in Lake Havasu Ca on Sunday. Paid 3.49 for gas today in Elk City OK. So if in fact we are getting gouged exactly who is doing the gouging?
What is not clear to me is how oil goes up 25% and immediately gas prices go up, ALTHOUGH the gas in the pumps was refined months ago when the oil was much cheaper. How come, guys? That seems like gouging and using today's price per barrel to raise the price on gas refined 3 months ago!!
 

searay26

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BP just annouced their highest profit quarter in over 8 years. Good for them!
 

gr82baspartan

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Nov 16, 2003
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So we are driving cross country. Paid 6.84 for gas in Lake Havasu Ca on Sunday. Paid 3.49 for gas today in Elk City OK. So if in fact we are getting gouged exactly who is doing the gouging?
Saw $ 6.17 couple of days ago here in SoCal for the unleaded.

Waiting to see if the poly tishians going to give $400 to each
Registered car owners to help defray things.

Gotta warm the cockles of the voters ❤ hearts❤

,,,,300
 

Rip_E_2_Joe_PA

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Jun 9, 2002
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The states gouging you. You did not find $3 a gal in California and there was not #6/gal in Oklahoma.
Really... Even a Pitt accounting grad would know adding 51 Cents does not turn $3 a gallon into $6 a gallon... I know the complex calculus here is really tough...

Dear God !
 

creamery freak

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Saw $ 6.17 couple of days ago here in SoCal for the unleaded.

Waiting to see if the poly tishians going to give $400 to each
Registered car owners to help defray things.

Gotta warm the cockles of the voters ❤ hearts❤

,,,,300
We all knew it was coming. With Big Oil not getting profits in mid 2020 and early 2021, they were waiting for any excuses possible. Pipeline shutdowns from hackers, refinery fires, hurricanes and now the war in Ukraine, without Russian oil on the market, bingo! Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits. Most of our Senators and Congressman won't do squat because their campaigns are funded by Big Oil. That's my rant for the day.
 

flinter

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The head of one of the biggest gas companies said on CBS News he “decries” price gouging!
Brooklyn Bridge, swampland in Florida and American Motors along with all Edsel owners all decry any financial loss associated with their entities and their products!
 

gr82baspartan

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Nov 16, 2003
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We all knew it was coming. With Big Oil not getting profits in mid 2020 and early 2021, they were waiting for any excuses possible. Pipeline shutdowns from hackers, refinery fires, hurricanes and now the war in Ukraine, without Russian oil on the market, bingo! Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits. Most of our Senators and Congressman won't do squat because their campaigns are funded by Big Oil. That's my rant for the day.
An exceptional 5 star Rant.
Looked like the local Valero down to $5.87 on my drive by today.

,,,cheers
 
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bvillebaron

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Feb 4, 2004
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We all knew it was coming. With Big Oil not getting profits in mid 2020 and early 2021, they were waiting for any excuses possible. Pipeline shutdowns from hackers, refinery fires, hurricanes and now the war in Ukraine, without Russian oil on the market, bingo! Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits. Most of our Senators and Congressman won't do squat because their campaigns are funded by Big Oil. That's my rant for the day.
And a good one at that. I guess Biden declaring war on the fossil fuel industry had nothing to do with any of this, huh?
 

GregInPitt

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May 29, 2001
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And a good one at that. I guess Biden declaring war on the fossil fuel industry had nothing to do with any of this, huh?
Yep, when the government steps in and disrupts a market that was working for both sides all bets are off. Screw it up and blame it on someone else........

Amazing that many in this country that claim to have gotten top educations don't understand basic economics and markets......
 

LemonEars

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We all knew it was coming. With Big Oil not getting profits in mid 2020 and early 2021, they were waiting for any excuses possible. Pipeline shutdowns from hackers, refinery fires, hurricanes and now the war in Ukraine, without Russian oil on the market, bingo! Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits. Most of our Senators and Congressman won't do squat because their campaigns are funded by Big Oil. That's my rant for the day.
You say "Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits." They must have broken laws to get their obscene profits. What laws have they broken?
 

Rip_E_2_Joe_PA

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Jun 9, 2002
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Did you fail to read the part about the restrictions California places on their gasoline?

Makes it more expensive to refine.

No?

Idiot.
No, I did not.

Moron.

I responded to the previous posts inadequate detail to support his position.

All those facts existed before the recent jump in prices. Therefore, they are not the cause of the jump in price.
 
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creamery freak

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You say "Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits." They must have broken laws to get their obscene profits. What laws have they broken?
Oh let's see, corporate calls the stations and tells them what the new price will be. So raising the price when the gas in the underground tanks was bought at a cheaper price is illegal. That's just one off the top of my head. Rule of the thumb is up by dimes and quarters and down by pennys.
 

Lion84

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They are all complicit in this - the states kill you with a huge tax and PA is one of the highest in the US and the oil companies grab the cash when they can - too funny how the day after the price of oil goes up on the world market the cost at the pump goes up - that is one lightening fast distribution network but when the price of oil goes down the lag at the pump is measured in weeks before the price goes down and only a little.
 

BringBackStoneys

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Aug 14, 2001
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And a good one at that. I guess Biden declaring war on the fossil fuel industry had nothing to do with any of this, huh?
Yes, every country in the world is seeing record high energy prices because of Biden. Just like every country in the world had masking mandates and lockdowns to sabotage Trump’s re-election. Simpletons.
 

PSUEngineer89

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Aug 14, 2021
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No, I did not.

Moron.

I responded to the previous posts inadequate detail to support his position.

All those facts existed before the recent jump in prices. Therefore, they are not the cause of the jump in price.
Look, you sorry liberal arts weasel, the difference in price between California and Oklahoma is not due to some magical price gouging.

It’s due to stupid liberal policies.

So STFU.

Or perhaps the extra cost of the policies is worth it. So let the California voter suffer from the policies they voted for.

Either way, it’s your fault.
 
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Plan Ahaed

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They are all complicit in this - the states kill you with a huge tax and PA is one of the highest in the US and the oil companies grab the cash when they can - too funny how the day after the price of oil goes up on the world market the cost at the pump goes up - that is one lightening fast distribution network but when the price of oil goes down the lag at the pump is measured in weeks before the price goes down and only a little.
Since this has obviously gone political don't forget that Tom Corbutt was the governor that enacted the massive gas tax in PA - so folks can't call that one a "liberal" policy.
 
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JayWye

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Jul 28, 2001
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We all knew it was coming. With Big Oil not getting profits in mid 2020 and early 2021, they were waiting for any excuses possible. Pipeline shutdowns from hackers, refinery fires, hurricanes and now the war in Ukraine, without Russian oil on the market, bingo! Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits. Most of our Senators and Congressman won't do squat because their campaigns are funded by Big Oil. That's my rant for the day.
Oil is a global commodity, and is thus priced based on global supply and demand. The US and Canada have enough oil reserves to bring the global price down, but producers/investors aren't willing to take the gamble in light of climate change fanaticism which could shut them down before they realize anything on their investments. By the bye, does anyone other than lawyers and Ivy League history majors think we can meet current power grid demand with solar panels and windmills? What happens if we add widespread electric vehicle load to the grid? John Kerry is living out, and profiting from, sheer fantasy.
 

Cletus11

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Aug 8, 2003
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Oil is a global commodity, and is thus priced based on global supply and demand. The US and Canada have enough oil reserves to bring the global price down, but producers/investors aren't willing to take the gamble in light of climate change fanaticism which could shut them down before they realize anything on their investments. By the bye, does anyone other than lawyers and Ivy League history majors think we can meet current power grid demand with solar panels and windmills? What happens if we add widespread electric vehicle load to the grid? John Kerry is living out, and profiting from, sheer fantasy.
very good point. another issue i have with the statement by many current cabinet members in the Biden admin is about going and buying a electric car. I mean literally electric cars are basically on an order and then you get it many months later basis. So that won't solve any of the current high gas price issues at all. I mean the time it is going to take if everybody today decided to buy an electric car until everybody actually owns one will literally be 15-20 years as that is how long it would take to get all the lithium available to actually make the batteries and then start to manufactur that many cars.
 

PSUPride1

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Apr 24, 2003
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Oil is a global commodity, and is thus priced based on global supply and demand. The US and Canada have enough oil reserves to bring the global price down, but producers/investors aren't willing to take the gamble in light of climate change fanaticism which could shut them down before they realize anything on their investments. By the bye, does anyone other than lawyers and Ivy League history majors think we can meet current power grid demand with solar panels and windmills? What happens if we add widespread electric vehicle load to the grid? John Kerry is living out, and profiting from, sheer fantasy.
Yup. And look at regressive California. Rolling blackouts are a common thing.
We have to innovate our way to cleaner energy but for now it's brainless to not control our energy needs because of whackjobs on the left.
The regressives destroy everything they touch.because they are activists. They have no common sense and overreact to everything and their policies are a joke.
Electric cars cost 60,000. Most people are nowhere close to being able to afford that. For a lot of folks that's more than a years salary.
 

Media Fan

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Jul 3, 2001
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We all knew it was coming. With Big Oil not getting profits in mid 2020 and early 2021, they were waiting for any excuses possible. Pipeline shutdowns from hackers, refinery fires, hurricanes and now the war in Ukraine, without Russian oil on the market, bingo! Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits. Most of our Senators and Congressman won't do squat because their campaigns are funded by Big Oil. That's my rant for the day.
In ‘21, Exxon net income was 23 billion on 285 billion in revenue ( circa 8%). Just 8%. The prior year it lost money. They need net income and free cash flow to fund new projects ( the money doesn’t come down from heaven).
Oil company earnings fluctuate wildly with spot and forward prices.
If they are guilty of driving prices up ( which I do not believe), are they also guilty of driving prices down, when spot oil was 30 bbl.
Build more pipelines, drill for energy in more places; under this administration energy production in the US is down. You can blame the party that down the line talks environment imo.
 

horace19040

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Aug 12, 2021
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Since this has obviously gone political don't forget that Tom Corbutt was the governor that enacted the massive gas tax in PA - so folks can't call that one a "liberal" policy.


When you inherit billions in debt it has to be paid. Do you know over half the DRPA revenue goes to debt? PaTpike is probably similar.

Where do you think REndell got the billions for stadiums?

It is funny when liberals complain about a conservative being too liberal. Do you support lower taxes? Do you think we should shift to the right? Part of lowering the taxes is cutting spending. You on board or will you contradict your post?
 

BringBackStoneys

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In ‘21, Exxon net income was 23 billion on 285 billion in revenue ( circa 8%). Just 8%. The prior year it lost money. They need net income and free cash flow to fund new projects ( the money doesn’t come down from heaven).
Oil company earnings fluctuate wildly with spot and forward prices.
If they are guilty of driving prices up ( which I do not believe), are they also guilty of driving prices down, when spot oil was 30 bbl.
Build more pipelines, drill for energy in more places; under this administration energy production in the US is down. You can blame the party that down the line talks environment imo.
Please cite a source that energy production is down under this administration (because it is not). Demand is way up.
 

LemonEars

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Oh let's see, corporate calls the stations and tells them what the new price will be. So raising the price when the gas in the underground tanks was bought at a cheaper price is illegal. That's just one off the top of my head. Rule of the thumb is up by dimes and quarters and down by pennys.
I'm just as pissed off about high gas prices as you are. Why do you think that "raising the price when the gas in the underground tanks was bought at a cheaper price is illegal"? Can't gas stations charge $100 per gallon if they want, even if they bought the gas at a dollar a gallon? If oil companies are doing anything illegal, don't you think the Dems who hate them would instantly arrest and prosecute them? Do you want oil companies to be nationalized? Do you think that would be better?
 
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Plan Ahaed

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When you inherit billions in debt it has to be paid. Do you know over half the DRPA revenue goes to debt? PaTpike is probably similar.

Where do you think REndell got the billions for stadiums?

It is funny when liberals complain about a conservative being too liberal. Do you support lower taxes? Do you think we should shift to the right? Part of lowering the taxes is cutting spending. You on board or will you contradict your post?
Just own it. A republican governor is responsible for one of the top gas tax rates in the nation. Everything else is hot air.
 
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horace19040

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Aug 12, 2021
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Just own it. A republican governor is responsible for one of the top gas tax rates in the nation. Everything else is hot air.

No. You can than the democrat for billions in debt that the republican inherited. When a Dem finances billions in stadiums and bloated pensions, do you think the debt is wiped clean after the election?
 

BringBackStoneys

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No. You can than the democrat for billions in debt that the republican inherited. When a Dem finances billions in stadiums and bloated pensions, do you think the debt is wiped clean after the election?
THIS RIGHT HERE IS THE PROBLEM. Republican Lies become folklore and internet morons propagate it. If any of you conservatives living in a post-truth fantasy land want to argue about tax-payer funded stadiums, please see this article from 1999 about Republican Gov Tom Ridge designing the stadium tax plan.

 

heckmans

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You say "Big Oil has been Government subsidized and yet they have been raping and pillaging the American people for years, in the name of higher profits." They must have broken laws to get their obscene profits. What laws have they broken?

Funny part.
Exxon, shell, etc have profit margins at about 7.8%, similar to Ford and GM. Apple and Google run about 27% net margins...but oil is "gouging."
In 2020, they lost as much as they made in '21. No one cared then, but now they are up in arms. "Off with their Heads!!!"
 

Online Persona

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Seems to me a very distinct inflection point in gas prices and inflation occurred exactly timed with the new administration. Either you believe that is causal or you write it off as coincidental. The choice for most is simply political confirmation bias.

What is factually true and indisputable is when this sharp inflection occurred from low gas prices and low inflation to record highs of both. Also indisputable is that high inflation is the most regressive tax there is and causes disproportionate harm to lower and middle class families. 10s of millions of Americans have been pushed below the upward shifting poverty line since the beginning of 2021 and it is still getting worse.
 

john4psu

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Since this has obviously gone political don't forget that Tom Corbutt was the governor that enacted the massive gas tax in PA - so folks can't call that one a "liberal" policy.
One-term Tommy giving Pennsylvanians his going away finger salute.

jNArIM8.jpg
 

McCloudersportLion

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So we are driving cross country. Paid 6.84 for gas in Lake Havasu Ca on Sunday. Paid 3.49 for gas today in Elk City OK. So if in fact we are getting gouged exactly who is doing the gouging?


Sue Plies side the big build back better bugger problem- you don't blame the 7/11 for the prices of commodities. Lib Democracy oil and gas done got Greta Tuneberged too but this ain't politics and dorklord subforums..
 

NICNEM_PSU80

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Please cite a source that energy production is down under this administration (because it is not). Demand is way up.
There you go again making shit up when a quick google search will tell you that in 2016 the US was pumping about 8.5 MB per day which rose to about 12.8 MB per day and has fallen to 11.4 MB per day in January which is the latest stat from....wait for it.... the USEIA which is the United States Energy Information Agency.

The US (we) were energy independent in 2020 and actually sold oil and natural gas to the world market. Of course on day one of the Biden Administration, canceled the Keystone pipeline which was scheduled to be complete in 9 months (December 2021) and would be able to carry the amount that the US was buying from Russia from North Dakota and Canada at a much lower rate than what we paid to Russia which income financed the war in the Ukraine. Oil, war and defense policy are highly interrelated.

Oh and by the way, the oil and gas that is produced in North America is cleaner than the crappy stuff from Russia which pollutes more by the gallon. If you were truly an environmentalist than you would understand that using US natural gas to make electricity was the major cause of our CO2 production drop back the the levels in the early 90's. Transporting oil and natural gas vis pipeline are also more environmentally friendly than by truck or rail due to less spillage.

The push for wind and solar is based on a false analogy that the are pollution free. No one accounts for when there is no wind in certain locations or of course no sunshine at night and the demand has to be met with "peaking plants" that use oil as the fuel and additional coal in operating plants which is much more polluting than the average mix of energy production.

The left superficial analysis of energy production and pollution remedies defies science and works out to be cheap sloganeering instead of actual science. Stop being superficial and recognize that people are dying in Ukraine due to bad energy policy by the left.

One more Citation/quote-

A major 2019 study by the U.S. National Energy Technology Laboratory finds Russian gas piped to Europe has up to 22 percent more greenhouse gas emissions than European coal. U.S. liquified natural gas (LNG) delivered to the EU, in contrast, has up to 56 percent fewer total emissions than EU coal, the report shows.
 
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