What is the current lie being told on why gas is up when oil prices are down?

[RanterMaximus]

Oil prices keep getting lower, but the price at the pump is slightly higher.  What lie are we being fed now?

[AsheDina]

David Ben Moshe is asking the SAME Q.

[arksis]

They are blaming the oil refineries now.........

[Lewinsky Stinks, Dr. Brennan Rocks]

1: The refineries are refining a lot less to create an artificial scarity in order to boost their profit margins in a time when few are buying, or can afford to buy, gas.

2: Supposedly the low price of oil is illusory. The price of oil is supposedly measured by West Texas oil, but the vast majority of oil consumed is OPEC oil, and OPEC has slashed their production by like 40% in order to save oil prices. The price of that oil is going up. Since we import the vast majority of our oil, we are still paying most of what we did per barrel last spring.

[RanterMaximus]

Energy independence always gets but on the political back burner. 

[SavetheWest]

At least the oil producing countries are getting killed with low oil prices. 

[Lewinsky Stinks, Dr. Brennan Rocks]

At least the oil producing countries are getting killed with low oil prices. 

Not nearly as much as you'd think. Plus the profits they raked in last summer would sustain them for a decade even if they don't produce a drop of oil again.

[SavetheWest]

At least the oil producing countries are getting killed with low oil prices. 

Not nearly as much as you'd think. Plus the profits they raked in last summer would sustain them for a decade even if they don't produce a drop of oil again.

Chavez and Russia didn't prepare for these loses and are in real trouble.  The Gulf Arabs have made so much money that they can live for 5 years like the US in 2006 during its economic boom.  They did not expect this level of a drop off but analysts are saying that the price rebound will be worse than before.  China could take off again and then we'll pay 6-7 dollars at the pump. 

[Lewinsky Stinks, Dr. Brennan Rocks]

It is estimated China will put 600 million new cars on the road, or the total number of cars on the road right now in the whole world, over the next decade (thanks to all of the West's jobs going there).

[SavetheWest]

Terrific.  Never mind India's future consumption too.  Also, China's stock market is 27% higher, year over year.  Their companies are doing well and all US companies selling to China are the only ones up this year.  China is also in the largest military buildup since Hitler's Germany. 

[Lewinsky Stinks, Dr. Brennan Rocks]

In the long term, China is more dangerous than the Muslim Nazis.

[SavetheWest]

In the long term, China is more dangerous than the Muslim Nazis.

We do have a secret weapon against China though.  It's called Rhianna, Justin Timberlake and Chris Brown.  It sounds funny but its true. 

[VforVendetta]

Its the same lie being told in Israel about why the Driving tests' prices grow up when oil prices get lower.

[cjd]

Did people really expect that gas prices would stay below 2 dollars forever? The prices right now here on Long Island are about $2.09 which I see as sort of fair. I could live with anything under $2.50 and be very happy. Lets face it the stuff goes through a hundred processes before it is usable at the pump. Pumping, refining,  shipping, dispensing its not something that just comes out of the ground ready to use. Last but not least lets not forget that Uncle Sam has to get his taxes. The oil companies are starting to play the same game they did back in 1973 and then again in 79 by holding back on production and delivery trying to drive the price up. In 79 they were pushed into it by Jimmy Carter and his crazy  price freezes. I for one would rather pay a few cents more a gallon then to have to deal with gas shortages. Should any meaningful recovery in the economy take place the prices will go back up to levels even higher then they were before . China gets most of its money from America and Americans are not spending. Right now industry in China is in a shambles with high unemployment numbers and some civil unrest over it. Lastly the shvartza President and local government are setting their sights on a whole new set of gas taxes. With prices down right now they may not have much resistance getting it imposed but rest assured it won't go away when prices go back up. 

[RanterMaximus]

The bottom line on the whole gas issue is that it is typical sheepish American reaction.  We will curse the cashier at the local gas station, whine and moan to friends and family, and a handful might even write or call their elected officials.  But nothing will ever get resolved.  I don't give a darn if gas is ten cents a gallon right now, we should be light years ahead on energy independence.  But this is what happens when a country is run by thieves and liars, and a the masses are addicted to sports, WWE wrestling, Hollywood celebs, Desperate Housewives, bad food and movies, or a video game system. 

[cjd]

The bottom line on the whole gas issue is that it is typical sheepish American reaction.  We will curse the cashier at the local gas station, whine and moan to friends and family, and a handful might even write or call their elected officials.  But nothing will ever get resolved.  I don't give a darn if gas is ten cents a gallon right now, we should be light years ahead on energy independence.  But this is what happens when a country is run by thieves and liars, and a the masses are addicted to sports, WWE wrestling, Hollywood celebs, Desperate Housewives, bad food and movies, or a video game system. 

Yes!! This is very true. As long as water comes out of the tap, the lights come on, the heat or AC are up and most importantly the TV is working the entire country could fall into a shambles and most Americans would not even notice. In fact if anyone pointing  out to the clueless where the country is in danger will get a hostile look from them and be told that they are sort of nuts for thinking like that. As our country was being sold down the river last week by a pork crazed congress and socialist president most Americans could not care less.  Its only when the cable goes out and the sports special or fad show becomes unavailable that people become unhinged to some extent and take action. The shvartza President said last week that he was in the process of reversing the Bush approvals for offshore drilling. How much has been said about that in the mainstream media? Something like that should have had most Americans up in arms.

[Lewinsky Stinks, Dr. Brennan Rocks]

CJD, there is no excuse. Remember that the oil companies still made a profit in the '90s when oil was $15/barrel. If they didn't, they would not have stayed in business. What they are doing now is just pure, unadulterated greed, and forming an illegal cartel, to boot. They liked what they got last summer and had a tantrum when the fatcat investors finally dumped their product last fall, and so are doing everything in their power to recreate the prices of last summer, regardless of what the market actually says. I guarantee you demand has not fallen off THAT much total--no more than 5% at most.

And btw, there are many scientists who actually believe that the creation of crude oil is an ongoing process in the earth's mantle, not a one-time event dependent on the same ancient reserves of fossilized plant/animal matter.

[GoIsraelGo!]

Oil prices down is one way of keeping us calm before the storm.
Just my opinion.


                                    Shalom - Dox

[briann]

.. it has to do with refining issues, and gas stations nervous about the price spiking up again.

CJD, there is no excuse. Remember that the oil companies still made a profit in the '90s when oil was $15/barrel. If they didn't, they would not have stayed in business.

WHAT??? when oil was $15.00 per barrel.... US oil companies were collapsing/bankrupting/merging by the handful.  Do we suddenly have amnesia??  The ones that survived only did so by their large futures contracts and by the fact that they could absorb the $5.00 per barrel loss in the mid-term.