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Author Topic: How powerfuel are big oil companies? Back to Topics
travelzonecente

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Riverside

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Message Posted: Nov 28, 2013 2:39:16 PM

Do you know?
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tiny1oh
Champion Author Akron

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Message Posted: Sep 17, 2014 6:14:41 AM

too powerful, and that's the problem
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travelzonecente
Champion Author Riverside

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Message Posted: Aug 30, 2014 12:01:39 AM

Very powerful.. until the citizens wake up...
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mpsrent
Sophomore Author Ontario

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Message Posted: Aug 27, 2014 4:03:03 PM

Very
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PithyOpiner
Champion Author Stockton

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Message Posted: Aug 19, 2014 2:06:09 PM

They are so powerful they can make time stand still, walk on water, see through your clothes as you pump, get your daughter to run away from home and actually levitate themselves right in front of you.
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mohrorless
Champion Author New York

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Message Posted: Aug 19, 2014 6:21:02 AM

too powerful
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ScottAdams5
Champion Author New York

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Message Posted: Aug 16, 2014 7:17:05 PM

Why do you ask?
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travelzonecente
Champion Author Riverside

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Message Posted: Aug 16, 2014 4:34:42 PM

Very
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cv
Champion Author Raleigh

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Message Posted: Aug 12, 2014 5:58:16 AM

Pretty strong.
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nichols
Champion Author Halifax

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Message Posted: Aug 11, 2014 8:59:43 AM

not as powerful as they bloody hedge funds that do most of the speculating
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travelzonecente
Champion Author Riverside

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Message Posted: Aug 8, 2014 1:20:23 AM

Very Very Powerful
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mohrorless
Champion Author New York

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Message Posted: Jul 31, 2014 6:15:58 AM

Big oil too powerful
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Hemond
Champion Author Providence

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Message Posted: Jul 28, 2014 9:16:59 AM

::::::I have worked with and interacted with several Middle Eastern countries in my career and can tell you that the major oil producers over there are quite aware that to survive they must continue to produce and sell oil into the world market.:::::


brerabbit's insights are correct. The oil producers of the middle east are, if anything, desperate to sell their oil. They need the money. In order to pay for their own welfare programs. They cannot use oil as a weapon any longer. Not if they want to keep their populations from storming the palace gate.

Many have been hit badly by the US "fracking" revolution. Exports have been devastated. And will get worse for them as fracking booms further.

Venezuela is a basket case as is Libya. While the corrupt ME monarchies are one step away from revolution. Cut the oil gravy train and they go down.
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NickoliMB
Champion Author Manitoba

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Message Posted: Jul 25, 2014 1:57:59 PM

Too powerful!!
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zachlCA
Champion Author California

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Message Posted: Jul 24, 2014 7:05:22 PM

Not as powerful as big government.
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ZZZoop
Champion Author Virginia

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Message Posted: Jul 24, 2014 6:10:36 PM

>>I said for argument sake.. not that is ever going to happen...I was just trying point out the fact that oil importation is very important to our economy and if something happens we do not have a back up plan.<<

So you want to expend taxpayer dollars on a backup plan for a scenario that you admit is never going to happen?
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brerrabbitTX
Champion Author Houston

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Message Posted: Jul 24, 2014 4:56:06 PM

I have been in the energy business for 32 years. All of it spent with major energy companies, not selling gasoline at the retail level, and can tell you that we have more domestic energy than we have had in a very long time. We have oil, natural gas and a developing alternative energy programs.

Would a reduction in imports hurt a little, yeah sure it would. But look at the numbers, we import the most oil from Canada and Mexico. We import from South America. We have most recently imported quite a bit of crude from Western Africa. So if war breaks out in the Middle East it would have an impact but not nearly the impact it would have had 10 years ago. As far as the strategic reserve I am not sure what you mean. Do you think the government would confiscate all the domestic crude? Not gonna happen.

I have worked with and interacted with several Middle Eastern countries in my career and can tell you that the major oil producers over there are quite aware that to survive they must continue to produce and sell oil into the world market. Their economies and the attitude of their people depend on it. Saudi's pay no taxes and buy gas for 45 cents a gallon all supported by the crown and their oil royalties. The Royal family is very aware that an interuption in the sale of oil would tank their economy quickly. In otherwords they need the worlds money as much as world needs their oil.

So given these realalities I don't really see high odds of the imports at any level stopping anytime soon.

Just my opinion from 32 years of dealing with the market.
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travelzonecente
Champion Author Riverside

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Message Posted: Jul 24, 2014 1:26:06 PM

I said for argument sake.. not that is ever going to happen. The power at be, have made the Middle East rulers very powerful and very rich. Why would they turn on the hand that feeds you.

I was just trying point out the fact that oil importation is very important to our economy and if something happens we do not have a back up plan.
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ZZZoop
Champion Author Virginia

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Message Posted: Jul 12, 2014 4:32:46 PM

>>I have been in the oil industry for some time now, over 20+ years and operated multiple brands, and currently operating and own one of the largest ARCO station in United States.<<

So, other than your specious resume, you offer nothing to support your claims?

>>The oil released to the general public under this scenario, you and I could not afford.<<

Says who?

>>So, you are under the belief that if Middles East stops importation, and it does not get invaded, or their government is not over thrown, for the sake of argument.... that the US government is going to release the reserve it has to the general public and not keep a large portion for US military. That is what you are telling me.. Right?<<

The scenario you are offering is both ambiguous and absurd. There is no impending invasion of the Middle East. There is no plausible scenario where the Middle East as a whole would stop importation of crude oil into the U.S.

As Shock noted, you are simply peddling alarmism; aka, FUD.
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travelzonecente
Champion Author Riverside

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Message Posted: Jul 12, 2014 3:19:57 PM

So, you are under the belief that if Middles East stops importation, and it does not get invaded, or their government is not over thrown, for the sake of argument.... that the US government is going to release the reserve it has to the general public and not keep a large portion for US military. That is what you are telling me.. Right?

If that is what you believe, you are not as informed as you think you are. I have been in the oil industry for some time now, over 20+ years and operated multiple brands, and currently operating and own one of the largest ARCO station in United States. The oil released to the general public under this scenario, you and I could not afford.

But feel free to keep your dream alive and keep your head in the sand.

Just sayin'

[Edited by: travelzonecente at 7/12/2014 3:23:44 PM EST]
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ZZZoop
Champion Author Virginia

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Message Posted: Jul 11, 2014 5:39:15 PM

>>I guess we have started a debate...Nice....<<

So, travelzonecente, does that mean that you're going to provide some factual data to support your baseless claim that "Supply that will be available for general public would be less than 20 days"?

>>Please read more about US reserves...<<

Why don't you provide a link showing us what we need to know about U.S. reserves? While you're pondering that thought, here's some reading for you about U.S. reserves:

EIA Petroleum Data

Note that all of the figures about U.S. crude oil in either storage or in the pipeline that I stated in my 7/7 post are supported by the above link. What I failed to note in that post that further undercuts your baseless argument is that the U.S. is currently producing about 8 million bpd of crude, or about 50% of our daily refinery crude oil input.

[Edited by: ZZZoop at 7/11/2014 5:40:29 PM EST]
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Shockjock1961
Champion Author Illinois

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Message Posted: Jul 11, 2014 9:03:35 AM

"Supply that will be available for general public would be less than 20 days. if import stops"

You better take a look at your figures again...

For one, there is a 21 day supply in the supply chain, cut off all imports and we would still have domestically produced oil, therefore our supply would last considerably longer then 210days...

Secondly, Canada is the #1 supplier of imported oil, I doubt if that supply is going to be interrupted....

Thirdly, only a very small portion of our imported oil comes from the middle east (which is what I'm speculating is what worries you). Since there are a number of countries in the middle east which export oil, it's hard to imagine a scenerio where everyone one of the countries cut off exporting. So your 20 day figure is nothing more then alarmism at it's best...
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travelzonecente
Champion Author Riverside

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Message Posted: Jul 11, 2014 1:57:43 AM

I guess we have started a debate...Nice....Please read more about US reserves... Supply that will be available for general public would be less than 20 days. if import stops.. and the counties dont get invaded as soon as they thought they are going to stop shipments of the black liquid gold.
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ZZZoop
Champion Author Virginia

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Message Posted: Jul 10, 2014 5:55:46 PM

>>...your references are from reputable sources according to you.<<

Where was such a claim made? Where has another GB member questioned his sources?

>>I don't remember reading anything in this site's terms and conditions that made you the arbitrator of references.<<

No such claim was made. He was paraphrasing General Forum Guideline #3 which states, "[w]here possible, facts should be supported by a link to a respected Internet source." That's one of the guidelines that you routinely abuse, gramps.

>>You claim that only your sources are good,...<<

No such claim was made.

>>...but anyone using references that refute your arguments are no good according to you.<<

What did your linked CNN opinion piece by Bernie Sanders refute?

>>You have posted facts according only to you.<<

Be specific, gramps, which posted facts are "according only to you"? You intentionally avoid citing specifics, gramps, in order to avoid any reasonable debate.

>>Whose to say all of your references aren't coming from fraudulent sources other than you?<<

Who else, other than you, gramps, is making such a claim? You don't like any of my sources either even they come from such respected sources as EIA and the SEC. Even the GB website cites EIA as a source of respected information.

And you've yet to explain why you cite a Bernie Sanders opinion piece when you've consistently said you don't trust information from the government. Do you know who pays Bernie Sanders for services rendered?
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dfp609
Champion Author Cincinnati

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Message Posted: Jul 10, 2014 10:20:32 AM

pretty powerful
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Shockjock1961
Champion Author Illinois

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Message Posted: Jul 10, 2014 10:01:15 AM

"And I don't think anyone wants to return to the 19th century, but that doesn't justify $100 a barrel oil and $4 a gallon gas..."

However, the huge task of extracting refining and transporting all that fuel and the laws of supply/demand DO justify the price we are paying...
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grampi47
Champion Author Illinois

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Message Posted: Jul 10, 2014 8:30:00 AM

Hemond, your references are from reputable sources according to you. I don't remember reading anything in this site's terms and conditions that made you the arbitrator of references. You claim that only your sources are good, but anyone using references that refute your arguments are no good according to you. Sounds like the world according to Hemond to me. You have posted facts according only to you. Whose to say all of your references aren't coming from fraudulent sources other than you? And I don't think anyone wants to return to the 19th century, but that doesn't justify $100 a barrel oil and $4 a gallon gas...
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Hemond
Champion Author Providence

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Message Posted: Jul 9, 2014 10:38:23 AM

QUOTE :::::.I don't know what your motives are, and frankly I don't care, but most people aren't naïve enough to buy into your phony baloney nonsense....you can keep the rhetoric flowing though if it makes you feel better..::::;



Try to keep the emotional responses out of this discussion. Keep to the facts.


I don't do rhetoric. I pose logical arguments backed by references from reputable sources. If you have evidence that the oil companies are frauds you have yet to produce it. You don't because no such evidence exists.

I just refuted your Bernie Sanders argument. Sanders is clearly a fraud. I am prepared to go on with technical financial reasons why. Such as the monetization of oil by Obama and the Feds of 2008. A fact which the fraud Sanders lied about in your non-clickable link.

As for not liking the oil industry. Just the opposite. I say a little prayer daily for what modern industry and specifically the oil industry provides.

I like having a happy life in the modern world. I have no desire to return to the 19th century of horse and buggies. I like traveling in cars/planes. I like a comfortable easy life with plenty. I like having a healthy bank account. All of which is due to the oil industry.
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grampi47
Champion Author Illinois

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Message Posted: Jul 9, 2014 8:44:40 AM

Hemond...You just don't like the oil industry, yourself, and people like you (big oil cheerleaders) being exposed for what you are...frauds...I don't know what your motives are, and frankly I don't care, but most people aren't naïve enough to buy into your phony baloney nonsense....you can keep the rhetoric flowing though if it makes you feel better...



[Edited by: grampi47 at 7/9/2014 8:46:36 AM EST]
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Hemond
Champion Author Providence

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Message Posted: Jul 9, 2014 8:28:03 AM

Looking over Grampi's unclickable link... Bernie Sanders blames the oil companies and speculators for controlling oil price.

The statements of Sanders are pure hogwash. His statements show he has an agenda to reduce America to 3rd world status. This traitor is not stupid.... the reasons for the price events of 2008 are today well known. But the truth doesn't fit this communist's vision.

His agenda includes demonizing the vague and nebulous "speculators" and "oil companies" . The real reason for the price spike/collapse of 2008 was Obama's and the Feds monetary policy. A policy which reduces our currency to the stability of the peso.

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NickoliMB
Champion Author Manitoba

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Message Posted: Jul 9, 2014 12:19:10 AM

Just look at how they play the price of gas.
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Hemond
Champion Author Providence

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Message Posted: Jul 8, 2014 6:41:54 PM

QUOte :::::.and I don't hate the oil industry, I just hate the way they abuse their power to rape consumers when they could actually make a decent profit without doing so...:::::::


Looks like you are back to the same old , same old. Making inflammatory statements without any evidence to back it up. No proof of "rape". I've already proved the oil companies make a fair profit. YOu were unable to refute my evidence so you just make more inflammatory statements instead. Just pluck any old thing out of the air....


This is pure liberal/socialist/progressive technique. Espoused by Bernie Sanders and Leon Trotsky.

Next time you sit down at the keyboard remember its the oil companies that make your computing possible.

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ZZZoop
Champion Author Virginia

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Message Posted: Jul 8, 2014 6:40:32 PM

>>...I just hate the way they abuse their power to rape consumers when they could actually make a decent profit without doing so...<<

Yet you've never articulated just what you think a decent profit would be. And how would you know when the oil industry is making a decent profit when all financial data comes from either the oil industry or the government--two sources you don't trust? Or do your talk radio and TV shows have in inside track to oil industry finances?

>>...the big oil cheerleaders are constantly harrassing me about posting links, and when I do, the link is no good according to them..<<

Not harassment; just a gentle reminder to comply with the forum guidelines.

Also wondering why, if you don't trust the government, you post a link to Bernie Sanders, an employee of the U.S. government? More hypocrisy from the gramps?
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Hemond
Champion Author Providence

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Message Posted: Jul 8, 2014 6:35:10 PM

QuOTE ::::Hemond, I don't blame you for degrading any info that makes your views idiotic, except doing so makes you look idiotic anyway..


YOu already quoted a known communist as a reliable source for your views. That speaks volumes. I may be an idiot in your eyes, but I draw the line at taking America hating communist sympathizers for anything but what they are.

Also, this whole business of calling people you don't agree with idiots. It shows your debating skills have never been refined to a mature adult level. An adult never debates by name calling.

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the1roadhog
Champion Author Atlanta

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Message Posted: Jul 8, 2014 2:59:45 PM

Not powerful enough to deal with PrezO and his agendas
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grampi47
Champion Author Illinois

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Message Posted: Jul 8, 2014 1:32:09 PM

Hemond, I don't blame you for degrading any info that makes your views idiotic, except doing so makes you look idiotic anyway...and I don't hate the oil industry, I just hate the way they abuse their power to rape consumers when they could actually make a decent profit without doing so...
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Hemond
Champion Author Providence

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Message Posted: Jul 8, 2014 8:56:56 AM

::::::As usual...some one refutes your bogus lies and they are an America hating communist...you big oil cheerleaders crack me up! :::;


As for being an oil cheerleader, you are one.

Your entire happy life is dependent on oil. Your being able to post here depends 100% on the big oil companies you hate. You sir are hypocritical in lambasting big oil while being 100% dependent on them for every aspect of your daily life.

Your communist view of the world, in resonance with radical socialist Sanders is not the world Americans want to live in. Including you.
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Hemond
Champion Author Providence

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Message Posted: Jul 8, 2014 8:50:22 AM

:::::As usual...some one refutes your bogus lies and they are an America hating communist...you big oil cheerleaders crack me up!
:::


I've posted detailed analysis with logical arguments and data backing up my claim. You have posted emotional counterarguments based on communist propaganda from a noted America hating senator.

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grampi47
Champion Author Illinois

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Message Posted: Jul 8, 2014 8:19:09 AM

"an essay by a radical America hating communist is hardly a good refutation. Just because a Trotskyite like Senator Sanders publishes on the web, that doesn't make him an authority on anything other than communism."

As usual...some one refutes your bogus lies and they are an America hating communist...you big oil cheerleaders crack me up!



[Edited by: grampi47 at 7/8/2014 8:19:30 AM EST]
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Hemond
Champion Author Providence

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Message Posted: Jul 7, 2014 10:22:17 PM

QUOTE ::::: if production or shipment of any oil out of Iraq or Middle East gets interrupted for any reason.. ::::Military action will be taken and price across the country will go up..::::


Hardly. Iraq exports a total of 321,000 bbl/day to the US. Of that 145,000 goes to California. The rest is split among the remaining 49(56) states.


If ISIS invades southern Iraq, California alone is facing gas lines. The rest of the US will be unaffected.

Until Sacramento figures out a way to get alternative supplies Cali is screwed.


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ZZZoop
Champion Author Virginia

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Message Posted: Jul 7, 2014 7:17:31 PM

>>The entire US economy and Food supply will be brought down within 20days. US does not have enough reserves in the pip line to supply the nation for more a couple of days...<<

More "generalization"?

Consider these stats: According to EIA for the week ending 6/27, the U.S. had 1.075 billion barrels of crude oil stocks, including 691 million barrels in the Strategic Petroleum Reserve. For the same period, U.S. refineries were using 16.2 million barrels per day.

I'll leave the math to you, travelzonecente, but if you dust off your Ti-30 and crunch the numbers, you will learn that the U.S. can endure a cutoff of Middle East oil for more than "a couple of days" or even "20 days."
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travelzonecente
Champion Author Riverside

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Message Posted: Jul 7, 2014 3:43:28 PM

Sorry Hemond, I generalized... on the same token, trust me, if production or shipment of any oil out of Iraq or Middle East gets interrupted for any reason.. Military action will be taken and price across the country will go up.. Just look at what happen in the 80's when Iran interrupted supply... shortages was across the nation.
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Ratso
Champion Author Ohio

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Message Posted: Jul 7, 2014 6:44:26 AM

They are very powerful. One hiccup and blammo, the cost of living goes crazy!
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NickoliMB
Champion Author Manitoba

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Message Posted: Jul 6, 2014 11:13:05 PM

I think we have seen the way they can sway the economy.
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Hemond
Champion Author Providence

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Message Posted: Jul 6, 2014 9:29:02 PM

QUOTE :::::to correct you... if Middle East stops all imports.. and for the sake of argument... they do not get invaded immediately by US or Europeans countries.. California would not be the only state in trouble.. :::;


I said nothing about the middle east. I said Iraq. Specifically southern Iraq.

California would be the only country affected if southern Iraq stops shipments. Cali imports half its oil and half of that comes from Iraq. The other half is distributed amongst the remaining 49 states.(or 56 states if you go by Obama's figures)

Furthermore the US would not invade Iraq for such a reason. Only California would be affected. They of course would be in deep trouble, but not the rest of the US.

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travelzonecente
Champion Author Riverside

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Message Posted: Jul 6, 2014 2:33:20 PM

Hemond,
to correct you... if Middle East stops all imports.. and for the sake of argument... they do not get invaded immediately by US or Europeans countries.. California would not be the only state in trouble.. The entire US economy and Food supply will be brought down within 20days. US does not have enough reserves in the pip line to supply the nation for more a couple of days...

The Rack price increased.. yes which effects street prices. all the Major brands where already in the 3.15 - 3.20 range... the difference now is that the independents have come up as well. More increase in the near future.
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Hemond
Champion Author Providence

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Message Posted: Jul 5, 2014 10:20:48 PM

QUOTE :::::... Wholesale gas prices have risen in the past two weeks. It has gone from 2.94 to 3.20 as of yesterday ....::::;


California is in a unique and unstable situation. One half of the state's oil is imported and 1/2 of that is imported from Iraq.

I wouldn't doubt if the wholesale price went up $0.25/gal. If ISIS captures the oil facilities in southern Iraq, then Cali is screwed royally. The oil markets are factoring in the possible loss of the Iraqi oil facilities,. Over the past 2 weeks it looked all but certain that would happen. Now it looks like ISIS is not going to move past Baghdad. At least for the immediate future.


They hate the US of course. First thing ISIS will do is cut off all oil shipments to California. That is why the futures market reacted.

California will face gas lines if Iraq oil is shut off. A $0.25 price rise will mean nothing then.
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stonejd
Champion Author Illinois

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Message Posted: Jul 5, 2014 10:17:38 PM

really frickin' powerful
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ZZZoop
Champion Author Virginia

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Message Posted: Jul 5, 2014 9:59:41 PM

>>Wholesale gas prices have risen in the past two weeks.<<

So your alleged 0.15 cent/gal increase was the wholesale price?

>>It has gone from 2.94 to 3.20 as of yesterday (The Price does not include any taxes or Sales Taxes) So gas prices have risen,...<<

Yes, indeed, prices in Riverside have risen another $0.01/gal since my last post on 7/4. How do you Californians cope?

>>...some retailers were making a killing and now they are slowing adjusting the street prices.<<

"Slow" seems to be the key word here.
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travelzonecente
Champion Author Riverside

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Message Posted: Jul 5, 2014 2:07:15 PM

ZZZoop, Wholesale gas prices have risen in the past two weeks. It has gone from 2.94 to 3.20 as of yesterday (The Price does not include any taxes or Sales Taxes) So gas prices have risen, some retailers were making a killing and now they are slowing adjusting the street prices.
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ZZZoop
Champion Author Virginia

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Message Posted: Jul 4, 2014 8:59:57 AM

>>Gas price increase are coming to station near you... Price has risen over $.15 cents in the last week.<<

The quoted post was made on 6/28 from Riverside, CA. As Warner Wolf used to say, "let's go to the videotape."

According to the gas price charts for Riverside, CA, between 6/21 and 6/28, the price of gas increased from $4.09/gal to $4.11/gal, or a 2 cent/gal increase. The same price chart shows that, for the entire month of June, Riverside gas prices fluctuated from a low of $4.08/gal to a high of $4.12/gal.

Agitators always exaggerate.
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ZZZoop
Champion Author Virginia

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Message Posted: Jul 4, 2014 8:42:54 AM

>>I suppose rabbit guy and Zoop will chime in and say this article is BS...<<

Pretty much.

Curious, gramps; given the almost infinite sources of information about the oil industry available on the internet, why did you choose an opinion piece by self-described democratic socialist, Bernie Sanders? Does Sanders' world view reflect your own? Do you think Sanders has expertise in the oil industry?
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