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So, why is gas so high???

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posted on Oct, 6 2012 @ 07:07 PM
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I know that local taxes play a big part of the price of gas, but really, why is gas so Extremely OSOOOOOOOSSOSOSOOO high? People say we can't blame the president but who can we blame? Someone is obviously derelict and in complete disregard to the public. Is is BPO, Chevron, OR, how about these:

Rank by
2007 Oil
Equivalent
Reserves


Company Worldwide
Liquids Reserves,
Million
Barrels Worldwide
Natural Gas Reserves,
Billion
Cubic Feet Total Reserves
in Oil Equivalent Barrels,
Million Barrels
1 Saudi Arabian Oil Company (Saudi Arabia) 3 259,900 253,800 303,285
2 National Iranian Oil Company (Iran) 3 138,400 948,200 300,485
3 Qatar General Petroleum Corporation (Qatar)3 15,207 905,300 169,959
4 Iraq National Oil Company (Iraq) 2,3 115,000 119,940 134,135
5 Petroleos de Venezuela.S.A. (Venezuela) 3 99,377 170,920 128,594
6 Abu Dhabi National Oil Company (UAE) 3 92,200 198,500 126,132
7 Kuwait Petroleum Corporation (Kuwait) 3 101,500 55,515 110,990
8 Nigerian National Petroleum Corporation (Nigeria) 3 36,220 183,990 67,671
9 National Oil Company (Libya) 2,3 41,464 50,100 50,028
10 Sonatrach (Algeria) 2,3 12,200 159,000 39,379
11 Gazprom (Russia) 0 171,176 29,261
12 OAO Rosneft (Russia) 17,513 25,108 21,805
13 PetroChina Co. Ltd. (China) 11,706 57,111 21,469
14 Petronas (Malaysia) 5,360 82,992 19,547
15 OAO Lukoil (Russia) 15,715 28 15,720
16 Egyptian General Petroleum Corp. (Egypt) 2 3,700 58,500 13,700
17 ExxonMobil Corporation (United States) 7,744 32,610 13,318
18 Petroleos Mexicanos (Mexico) 11,048 12,578 13,198
19 BP Corporation (United Kingdom) 5,492 41,130 12,523
20 Petroleo Brasilerio S.A. (Brazil) 9,613 12,547 11,578
21 Chevron Corporation (United States) 7,087 22,140 10,870
22 Royal Dutch/Shell (Netherlands) 3,776 40,895 10,767
23 ConocoPhillips (United States) 6,320 25,438 10,668
24 Sonangol (Angola)3 9,035 9,530 10,664
25 Petroleum Development Oman LLC (Oman) 5,500 30,000 10,628
26 Total (France) 5,778 25,730 10,176
27 Statoil (Norway) 2,389 20,319 5,862
28 ENI (Italy) 3,925 11,204 5,840
29 Dubai Petroleum Company (United Arab Emirates) 2,3 4,000 4,000 4,684
30 Petroleos de Ecuador (Ecuador)3 4,517 NR 4,517
31 Pertamina (Indonesia) 3 903 20,538 4,414
32 EnCana Corp. (Canada) 927 13,300 3,201
33 Occidental Petroleum Corporation (United States) 2,228 3,843 2,885
34 China National Offshore Oil Corp. (China) 1,490 6,232 2,555
35 Devon Energy Corporation (United States) 998 8,994 2,535
36 Anadarko Petroleum Corporation (United States) 1,014 8,504 2,468
37 Repsol YPF (Spain) 952 8,137 2,343
38 Canadian Natural Resources (Canada) 1,358 3,666 1,985
39 XTO Energy (United States) 308 9,441 1,922
40 Ecopetrol (Columbia) 1,450 2,439 1,867
41 Chesapeake Energy Corp. (United States) 124 10,137 1,856
42 Talisman Energy Ltd. (Canada) 749 5,464 1,683
43 Apache Corp. (United States) 1,134 2,446 1,552
44 EOG Resources (United States) 179 7,745 1,503
45 Romanian National Oil Co. (Romania) 2 863 3,550 1,470
46 BHP Billiton Ltd (Australia) 565 4,727 1,373
47 BG Group PLC (United Kingdom) 393 5,572 1,345
48 Hess Corp. (United States) 885 2,668 1,341
49 Marathon Oil Corp. (United States) 650 3,450 1,240
50 Shell Canada Ltd. (Canada) 808 1,400 1,047

Notes:

1 Ranked in order of 2007 worldwide oil equivalent reserves as reported in "OGJ 200/100", Oil & Gas Journal, September 15, 2008.
2 Information from Energy Information Administration Country Analysis Briefings.
3 OPEC member


--------------------------------------------------------------------------------

To learn more about the world oil and gas industry, please check out the following PetroStrategies classes:

A Layman's Guide to the Oil & Gas Industry

The Oil & Gas Industry in Perspective



--------------------------------------------------------------------------------

For more information about the world oil and gas industry, check out the following references:

Fundamentals of Petroleum, Fourth Edition, Kate Van Dyke, Petroleum Extension Service, c 1997.

The Petroleum Industry: A Nontechnical Guide, Charles F. Conaway, Pennwell Publishing.

Oil: Anatomy of an Industry, Matthew Yeomans.


--------------------------------------------------------------------------------

Updated 07/02/12

Copyright 2000
PetroStrategies, Inc.
All rights reserved

I'm so glad Obama is in the know. It makes me feel safe to know that our POTUS is on the mark and right on about these issues.




posted on Oct, 6 2012 @ 07:08 PM
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Really, I just want to know why gas is so friggin high!



posted on Oct, 6 2012 @ 07:13 PM
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buy some bottled mineral water, then think about how expensive petrol is.



posted on Oct, 6 2012 @ 07:19 PM
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I wonder the same thing considering we are supposedly in the Middle East for oil/gas. I would think prices should be relatively low if we were doing anything productive overseas. They should actually be much, much lower.

I'm just speculating though as i have no real knowledge of what the prices could be while companies are still making profit.
edit on 6-10-2012 by FlyingCow because: typo



posted on Oct, 6 2012 @ 07:21 PM
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reply to post by Gridrebel
 


The more money the federal reserve prints, the less value the dollar has. If you look back at silver prices 12 years ago, you'll see the silver per ounce will still pay for the same amount of gas.



posted on Oct, 6 2012 @ 07:22 PM
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Gas in the US is still 50% cheaper than most of Europe! Dude, we are paying here in Germany almost €1,70 PER LITER. Thats almost $8.25 a gallon!



posted on Oct, 6 2012 @ 07:24 PM
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Why is gas so high? Because about seven or eight years ago it rained down south and somebody got smart and said "Hey let's make up some bizarre story about summer gas vs winter gas and that some pipes broke.... and see how much they'll really pay!"

It made it to $5.00 a gallon here - even higher at a couple of stations, before people flat freaked out and stopped buying it.

Then some analyst somewhere checked the numbers and said * this * is the dollar amount where we achieved highest profits - the highest per gallon price where people would still buy enough gas to keep the model stable. And THAT price was then the "new normal". And we all know that price range, in the US is obviously the three to four dollar range.

Funny... they should have that whole hurricane Katrina situation sorted by now....Strange the price never went back down as things got better.

~Heff



posted on Oct, 6 2012 @ 07:28 PM
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The price of gas dropped about $.40 last night. At least where I'm at. Just throwing that out there.

I'm glad I waited until the last minute to fill up, instead of getting gas yesterday.



posted on Oct, 6 2012 @ 07:31 PM
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Actually,my gas prices have been dropping here in the bluegrass state (Kentucky).

It's about $3.39 now.

Here is your excuse.......


The dramatic surge came after a power outage Monday at a Southern California refinery that reduced supply in an already fragile and volatile market, analysts said, but the refinery came back online Friday and prices were expected to stabilize by next week.


www.foxnews.com...



posted on Oct, 6 2012 @ 07:34 PM
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Because humanity is a scared little child letting them get away with it. People can't live without their gas, since they need their gas to make money, money to get more gas (and fake food, pills, iPhones, etc.).


*rimshot*
edit on 6/10/12 by AdamsMurmur because: (no reason given)



posted on Oct, 6 2012 @ 07:38 PM
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taxes
speculators
demand

and it's a global commodity, no president can claim to have control over the price. you would have to nationalize the oil companies and restrict them form exporting any US oil or importing any foreign oil, and good luck with that



posted on Oct, 6 2012 @ 07:46 PM
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The high prices of gas can be caused by many different things. Back in 2009 it was caused by alcohol.

'Drunken' Broker Sent Oil to 8-Month High in 2009: Report





On the morning of the 30th, an admin clerk called Perkins to ask why he had bought 7 million barrels of crude during the night. Perkins had no recollection of the transactions, and it turned out that he had made the trades during a “drunken blackout," according to the FSA.


It's highly unlikely that todays gas prices are the result of the same "black out." But I just thought I should share

-Cheers



posted on Oct, 6 2012 @ 07:50 PM
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Originally posted by GoldenRuled
reply to post by Gridrebel
 


The more money the federal reserve prints, the less value the dollar has. If you look back at silver prices 12 years ago, you'll see the silver per ounce will still pay for the same amount of gas.


This is it right here. You can blame QE1, QE2, and QE3. Still, you should notice a slight drop in fuel prices until after the election. It will go back up when people need heating fuel. Always happens that way. Prices go up as winter starts, and when people start summer vacations. Prices drop as spring reduces the need for heating fuel and when back-to-school begins.

Think gas is high now? Wait till January.



posted on Oct, 6 2012 @ 08:41 PM
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This all just gets me soooo mad!

I have no answer why the price is so high....oil futures have oil at around $90 a barrel, which means the prices should be nice and low....instead they rise.


I researched taxes and on average between fed, state and local they average out at 40cents a gallon, so that's not it.


We are NOT in the Middle East for oil.....if we were prices would have plummeted 20 years ago and stayed there....the whole " we are there for the oil thing"is a red herring.

We are in the Mid East because they are animals who hate us......wake up and get out of denial.

OPEC runs the WHOLE game, until the US gets it butt out of OPEC and is oil independent this nonsense will continue.

And to bad for Europe if they are paying so much for gas....what does that have to do with us?

We should keep overpaying because they keep taking it in the behind? noooooooooooooo.



posted on Oct, 6 2012 @ 08:44 PM
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I was asking myself the same question lastnight. I just saw gas here in San Diego $4.95/gallon. The conspiriacist in me thought it was a California thing and the Oil industry trying to force us to vote no on Prop 37.



posted on Oct, 6 2012 @ 09:06 PM
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Because the companies are making decisions that yield higher profits, the shut down refineries,
reduce their own refinement capabilities and figure out a million and one ways to reduce supply.

Gas has risen nearly 400% in 12 years -

Has anyone gotten a 400% raise?

Have taxes raised even 10%?

Stop being shills people, companies are looking to MAKE AS MUCH MONEY AS POSSIBLE,
that means screwing YOU hard and long, son.

edit on 6-10-2012 by campanionator because: (no reason given)



posted on Oct, 6 2012 @ 09:15 PM
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reply to post by Alchemst7
 


Really? I'm in east county San Diego, and yesterday I watched them change the prices to $5.89? The gas station guy told me that he's going to let his gas run out, rather than purchase at these prices, only to see it come down latter. He predicted a gas shortage, as small businesses like him, can't afford to purchase it.

They're saying on the news the recent high prices are due to several refinery fires. Sounds right. The insurance company pays for the fire damage and the refineries raise their oil prices. WIN WIN!



posted on Oct, 6 2012 @ 09:27 PM
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This is an interesting read about the 1973 oil crisis.....

en.wikipedia.org...



posted on Oct, 6 2012 @ 09:30 PM
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In calif we have one refinery down because of a fire and its fall maintenance shutdown time for the rest of the refineries when they do maintenance and switch to winter blend.

As they have not built a new refinery on the west coat in over 40 years we have 0 extra refinery Capacity.
This means when we lose a refinery the oil companies can jack up prices.
www.washingtonpost.com... a6c-07bd866eb71a_story.html



posted on Oct, 6 2012 @ 11:15 PM
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It all comes down to corporate greed.

Right now in the United States, we are exporting on average 30,000 to 50,000 more barrels of oil products per day than we are importing. And all of the oil being drilled here in North America is being sold at the same price we pay to import oil from overseas when it shouldn't be.

So the answer is that the price of gas is so high because the corporations say so.



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