david_42
Oregon
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Refiners are exporting seven times as much diesel per month than they were four years ago. Also, they can add tiny amounts of biodiesel to a tanker, get a US tax credit for the whole load and export it!
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Deen
Vancouver, WA
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Daveinet wrote:Creating an excess supply is the only way to drive prices down. Nothing else will work. I think (as do others) that getting rid of the speculators would lower the prices drastically.
Deen - Vancouver, WA
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Deen
Vancouver, WA
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427435 wrote:It's ethanol!!!! Many states are using 10% in their gasoline----which means close to 10% (maybe really 8% when BTU content is factored in) less gas being used.
If there were large supplies of bio-diesel available and being used, the price of diesel might well come down also. We've been using 10% ehtanol for many, many years now. It used to be the reason the ARCO gas was cheaper than others due to the tax breaks the got for using it. Now that BP bought ARCO and the government mandates that all gas be 10% ethanol ARCO is still lower, but not by much.
But ethanol is usually made from corn so now corn prices have doubled or tripled. My wife is a Freight Forwarder for very large grain elevator (highest tonnage on the west coast) and has seen the costs go up.
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Deen
Vancouver, WA
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Geozzz wrote:Just saw reg. gas at $3.19 in southern NJ. Diesel still well over $4. Regular unleaded gas is down to 3.739 as of today, naturally I got gas last night at $3.759, diesel is $4.559 locally and 4.399 about 25 miles north if you pay cash and 4.449 credit.
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chewbear
Lindenwold, NJ
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Jesse624 is dead on.
Another I believe is the oil companies closing refineries. Two here in south New Jersey. Why pay the high cost to support a refinery when you can buy it ready made in gas and deisel from over seas. Costs more who cares pass it on to the consumer. One other thing I've always wondered about is where is the Oil from Alaska going? Refineries where? Hope I didn't kidnap topic.
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Gypsyroad
Middle TN
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Biodiesel made from algea is the answer. Yields more gallons of oil per acre than any other plant and can be harvested many times per year. the only catch is if big oil get their hands in the algea before it can make a difference.
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bjw1
Sacramento, CA
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I've never heard so many people that know so little talk to much.....Ooops, I'm sorry, I did visit a session of Congress once.
Bryan
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Dog Trainer
Richmond Mi.
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Deen wrote:Daveinet wrote:Creating an excess supply is the only way to drive prices down. Nothing else will work. I think (as do others) that getting rid of the speculators would lower the prices drastically.
On the surface that would seem to be a reasonable solution. But in the long run where do we stop pulling the plug. So we legislate the speculation of oil why stop there why not Corn or Pork Bellies or really whatever we don't like the price of no more speculation. Lets make it impossible to speculate so why drill for more oil no incintive to speculate and why even think about speculating on green technology no proffitts are allowed. I have many opinions on what could bring the pricew of oil down but all of them come with strings attached that would probably cause a bigger problem. Democoracy and capitalism will still work if we can keep all of the legislation from dooming it.
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larry cad
Cindy stop it! U R driving me nuts!!!
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Several interesting facts about oil companies. Over the past 25 years oil companies have paid more than $2.2 TRILLION to various government entities in the USA. This includes excise taxes, royalty payments and state and federal corporate income taxes. That amount is more than three times what they earned in profits during the same period.
Another consideration is what is being called a windfall profits tax. The last time the government did this in the 1980s, the net effect of the tax was to depress domestic production which furthered our dependence on foreign oil sources.
In February of this year, the International Herald Tribune reported that BP actually LOST $1.8 billion dollars with their U.S. refining operations due to the high price of foreign oil.
Probably not a whole lot of initiative to build new refinery capacity with those kind of results.
I'll try being nicer if you'll try being smarter.....
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Dog Trainer
Richmond Mi.
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larry cad wrote:Several
In February of this year, the International Herald Tribune reported that BP actually LOST $1.8 billion dollars with their U.S. refining operations due to the high price of foreign oil.
Probably not a whole lot of initiative to build new refinery capacity with those kind of results.
Good point here Many do not realize that not all oil companies are making money at everything. I put some dollars into some refinery stock and I have seen a big decline in the value. So the refining business is not doing well on the profitt front.
I also believe that a windfall tax will send prices even higher. One statist that I heard was that about half of the profitt of the oil companies are being paid in state and federal taxes. That must mean that americans in general should be benifiting from those increased tax dollars. We cannot blame the Oil companies for the mis management of Tax dollars to the point where we see no benifit. I am not defending these companies or condoning oil prices just making a simple point that taxing these companies too death will send more american dollars off shore and will end up not having a benificial effect to the price of a gallon of gas. It is very intersesting that over the past 10 days, as we americans start to boil a bit more , demand additional drilling areas be explored and show great frustration, the price of oil starts to drop. It kinda tells me that opening up additional exploration and drilling will have a more immediate effect than we might think.
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