Getting Robbed at the Gas Pumps

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March 24, 2005 -- HERE'S all you need to know to understand that Americans are getting screwed at the gas pump.
Fact 1: The inventory of crude oil in the U.S. right now is 8 percent larger than it was this same week last year. And that's the biggest amount of crude on hand since the middle of 2002.

Fact 2: That the 8 percent increase doesn't include all the oil purchased by Washington and put into the emergency Strategic Petroleum Reserve, which now has 685 million barrels. That's up from 650 million barrels last year and 599 million in '03.

Fact 3: There is 7.5 percent more gasoline in stock right now in this country than during the same week last year. And you'd have to go back to this same week in 1999 to find more gasoline inventory — when the average price at the pump was only $1.01 a gallon.

Fact 4: Including everything made of oil, there is 4.9 percent more supply this year than when Spring began in 2004. And there's about 10 percent more of all petroleum products in stock today than when the Iraqi war began.

And, finally, Fact 5: American consumers are being conned by speculators — and a media that doesn't ask enough tough questions — into thinking there is some sort of supply problem.

Now here's my No.1 Prediction: If the greedy bottom-feeders who are causing prices to rise end up being responsible for damaging the U.S. economy there will be as much hell to pay on Wall Street as there was when the stock market bubble destroyed people's dreams.

All this having been said, why are we being robbed?

Originally posted by dgtempe
All this having been said, why are we being robbed?

Because the rest of the world pays a lot more for gas and thinks we should too?

Suck it up SUV owners!
Your paying for your egos now

I tell you if you are waiting to get the big gas cow they are going to become very affordable.

Yes, people are making a lot of money all the time the gas goes up, and "it ain't you or me"

Originally posted by Netchicken
Suck it up SUV owners!
Your paying for your egos now

While I agree with you NetChicken, I do thing that even the people driving smaller vehicles are feeling the impact as well. I live on a budget. Gas is now cutting into other parts of my budget. Oh, yeah. I drive a little purple 10 year old Geo Metro. 25 MPG. There has been a four dollar increase for me at the pump since this time last year. That is a $208 increase in my yearly gas (auto) bill.

If these people are going to charge that much, they could at least give you a complementry can of vaseline and say thank you after they ra...er..I mean, you pay them.

A jar of complimentary vaseline is the ticket

And its all being done with the blessings of those in power.

I personally hope gas prices go through the roof, $10 a gallon...lol

Not because I think the oil industry deserves more profits but because we need to get away from fossil fuel thinking and we need less unnecessary vehicles on the road.
You know where you can stick that SUV! (without the Vaseline)

ELF...AP&F

[edit on 24/3/2005 by ANOK]

I hope gas gose up to 10$ a gallon too. Then maybe I could take a breath when I walk down the street without choking. I got the best gas saving vehicle on my block. Its lean green and dose not have a gas tank. Its called a bike.

Just think of all the money you would save by just getting rid of you car. No more tags to buy. No more insurance to buy. No more sale tax. No more parking fees. No more speeding tickets

And we would not have an obesity problem like we do now.

Sis

Right on Sistinas!

We live in such a lazy society. Ppl don't think about the long term consequences of jumping in that gas guzzler to go 2 blocks.
The damage to the planet and to the air we have to breath.
Let alone the danger to us non-car owners who also have to use the same streets to get around.
I out of 5 traffic fatalities in california is a pedestrian.

Also most drivers, at least here in Cali, either don't know or just ignore
PEDESTRIAN RIGHT-OF-WAY RULES & REGULATIONS
www.sfsafe.org...='pedestrian%20accidents%20san%20francisco'

Originally posted by Sistinas

Its called a bike.

Just think of all the money you would save by just getting rid of you car. ...
...No more speeding tickets

Actually I heard about someone getting a speeding ticket on his bicycle. I'm serious. It may have been thrown out or dismissed by the judge but I don't remember that part.

Make sure you wear a helmet as well or an accident can cost more than just thousands of dollars after insurance.

I hear gas prices are going up because of China or because of the threat of terrorism. Maybe there is another reason. Maybe the oil companies planned this price increase to speed along their planned conversion of the business from supplying gas to supplying hydrogen for our cars. Since the oil companies and major car companies already have a plan in place I believe to convert, I believe the plan is getting implemented. Gas prices go up to help compensate for the higher cost that hydrogen will cost us. The oil companies will be supplying the hydrogen by using clean burning petroleum. (sarcasm off now)

The other reason I heard for high gas prices was a lack of refineries and they aren't building any significant increase in new ones. The oil companies claim there isn't much profit in that. That reminds me of the Enron audio clips where the one guy is overheard telling the plant in California to shut down for maintenance just to spike the electricity cost in California.

I've owned nothing but 4 cyl nissan pickup trucks (made in usa by non-union workers, yeah) and motorcycles for the past 15 years. My current 97 pickup has 163,000 miles on it. I use my vehicle in my work and spend about $100 per month on gas.

It's not so bad unless you like to drive around in a land yacht that you can barely keep in your own friggin lane.

Originally posted by dgtempe
Fact 1: The inventory of crude oil in the U.S. right now is 8 percent larger than it was this same week last year. And that's the biggest amount of crude on hand since the middle of 2002.

What does that matter? Oil price is, as far as I understand it, dependant as much on inventory as it is on the general activity of the stock markets and also whats being produced and refining capacity all taken by themselves. Also,if the inventory is 8% bigger, how much more has the demand gone up in a year? More than 8% no?

That's up from 650 million barrels last year and 599 million in '03.

I'd think that oil in the reserve has no effect on the price of gas, or at least very little effect.

American consumers are being conned by speculators — and a media that doesn't ask enough tough questions — into thinking there is some sort of supply problem.

Huh? No one is stating that the price is high because of a supply problem. Oil, from what I understand, isn't a normal commodity, its price isn't determined in a vaccum, and its heavily dependant on all sorts of other factors.

You think you are getting robbed. Over here in Japan at my base (supposedly tax free) gas station I am paying about $2.06 per gallon. Now in of its self this is supposed to be the average price in America according to the Gas station manager.

Now here is where I feel I am getting ripped off

1) Products sold on base overseas are suppose to be tax free
2) the National average is based on price per gallon with tax included
3) tax per gallon is roughly 50-70 cents
4) So I should be paying $1.56 to $1.36 per gallon
5) Gas manager says base has 1 year contract for gas with Japan costing the base gas station $1.38 per gallon
6) I am paying who knows who .68 cents per gallon and all I get is a lousy $2 off cupon if I can fit 8 gallons of gas in my 8 gallon tank (I never go to empty on my car , who does?)

Just some more info. Obviously cheaper then 4 dollars per gallon off base, but still I hate when I am taken advantage of.

Originally posted by Netchicken
Suck it up SUV owners!
Your paying for your egos now

God you're so right.

This is just the tip of the iceberg. I've heard that gas prices are expected to eventually climb to 80 dollars a barrel. I cant imagine how much gas will be then. It seems like its slowing but surely happening.

Her in Australia you can find two service stations facing each other across the road with a 10 cent/litre difference in price.
I cant afford to drive a car in my present situation due to the rising cost of petrol. The decrease in quality which means a car requires more frequent servicing. (more oil) And the skyrocketing of insurance costs. This makes it extremely difficuly for me to find part-time employment since so many jobs here require a car.

Originally posted by Sistinas

I hope gas gose up to 10$ a gallon too.

I wouldn't hope for such a thing or gloat about SUV owners paying an arm and a leg for gas. When the cost of transportation skyrockets, the cost of everything else that uses transportation will jump up in price as well. If gas suddenly jumped to $10 a gallon, we'd probably jump into the middle of a bad recession if not worse. I believe the rising cost of energy is going to cause an inflationary effect and that I believe is what Alan Greenspan was referring to the other day. Interest rates may need to rise. All borrowing costs such as mortgages, car loans,credit card rates etc. will rise. The price of oil creates alot of economic ripple effects.

Now on the other hand, it would be nice to see less monster trucks or massive SUV's going down the road with some guy or girl talking on a cell phone and not paying attention to the road very well.

Gas prices have reached $1.999 a gallon here now for regular unleaded. I believe there may be a gas station shortage of the number 2 for many gas station signs in my area. I'm seeing lots of signs with missing numbers.


[edit on 25-3-2005 by orionthehunter]

Originally posted by orionthehunter

Originally posted by Sistinas

I hope gas gose up to 10$ a gallon too.

I wouldn't hope for such a thing or gloat about SUV owners paying an arm and a leg for gas.

Why not? They're the ones driving up demand for absolutely no reason and possibly have a poor effect on the price of oil because of it.

Getting robbed at the pumps? Blame the enviro-whackos who stop creation of other refineries. The US has not had a new refinery in over 25 years. You can produce all the oil you want but if you can't refine it, it doesn't matter.

I too want gas prices to go sky high, so people will get so angry, that they will demand more drilling and more refineries! Then we will see resonable gas prices again, and not be at the mercy of OPEC, and foreign countries.

Well, I certainly do not want gas prices any higher.. Here in Arizona regular gas is already $2.15 a gallon and a bicycle is not an option.
What they'll do is hike prices to 4.00/gal and slowly decrease price to $3.00 and everyone will be so happy price went down, we'll all be thankful for the $3.00 price. Mind control and conditioning.

All I know is my next vehicle is going to be a hybrid...