Gas price up until a few days back:

$0.9072/gallon


New gas price by royal decree, effective from a few days back:

$0.6048/gallon (1995 price)

Doesn't affect me though, as I don't have a car.


(Still not as cheap as it is in Iran, some $0.40/gallon; cheapest in the world)


Blame the high gas prices in the Western world on your politicians, contractors, and corruption (and BUSH, for messing up Iraq and talking cowboy-like on Iran, thereby raising gas prices). The OPEC is pumping out as much as it can.

5/3/2006 5:24:20 PM

E-T-H-A-N-O-L

it will cure what ails us

5/3/2006 5:37:38 PM

plz to reference

5/3/2006 5:38:57 PM

W-H-A-L-E O-I-L

its worked before bitches

5/3/2006 5:39:38 PM

or we could just say fuckit and drill the yukons

5/3/2006 5:50:02 PM

no offense 0EPII1, but any sane rational person should not want a nuclear armed Iran

5/3/2006 5:56:43 PM

Operative words:

Quote :

"by royal decree"

5/3/2006 6:42:44 PM

"Bush went to war just for oil!"
"Bush is the reason gas prices are high!"

Something doesn't fit.

So where is this 33% price cut from? ^ Good Point.

5/3/2006 7:11:55 PM

If the U.S. was a major oil exporter we could do the same thing.

For example, a massive oil export tax would do the trick. You don't even need to nationalize the industry.

5/3/2006 7:19:53 PM

^^ One could argue that he went to war to prevent Iraqi oil from reaching the market, tightenning supply, driving up prices, making his friends very rich.

5/3/2006 11:43:27 PM

Quote :

"Still not as cheap as it is in Iran, some $0.40/gallon; cheapest in the world"

Lie. It's $0.12 in Venezuela.


And blame politicians? Sure. Gas is cheaper in countries where they drill for and export it.








Alaska anyone?

5/3/2006 11:44:59 PM

^ Nope. Gasoline is not cheapest in Alaska. As I understand, there are no large-scale refineries in Alaska so most gasoline must be imported from the mainland states.

Secondly, the state of Alaska doesn't have the right to restrict the export of oil from the state, something Saudi Arabia and others do by design. Therefore, if the price fetched by oil in California is larger than in California, the owner will export it to California and picket the profit. Therefore, as the price rises elsewhere it rises in Alaska by an equal amount.

5/3/2006 11:54:11 PM

The gas prices are up not because of low production.

There is still enough oil even by American estimates to last another 50 years. Bear in mind that countries like Saudi Arabia and Iran have long said that they have no problems in pumping out as much gas as they want, and although they don't talk about the size of their reserves, they have said there's nothing to worry about ever.

Even if that isn't true, the gas prices are high because of politics, corporate corruption, and the idea of sharing it with other rising countries like China and India.

America should be worried about the dollar though, because the day oil starts getting traded in any other currency, those trade deficits are gonna bite in the ass.

5/3/2006 11:57:43 PM

it saddens me to agree with Gargs, but I do. gg.

5/3/2006 11:58:47 PM

Quote :

""Bush went to war just for oil!" "Bush is the reason gas prices are high!" Something doesn't fit. "

yes, the war was for oil, and the next few wars will be for energy as well.

Yes, politics is responsible for high gas prices because the benefits of war are transferred to the already rich.

5/4/2006 12:10:54 AM

Quote :

"Alaska anyone?"

Yeah really let's starting digging some oil rigs there.

Im tired of $3 a gallon and it not going down.

Who cares about that wildlife? And would the oil rigs really hurt the animals that much?

5/4/2006 12:25:09 AM

You live in an urbanized world and care about animals?

5/4/2006 12:32:09 AM

Or we could try to reduce our dependency on oil in general and find a more "renewable" resource, or at least one that we can produce on our shores and power our cars and trucks with and not have to worry about energy security every time Israel shoots a rocket into a palestinian neighborhood.

I'm thinking that a solution like Brazil has might work. Create a big variegated market of fuels. Biodiesel, regular gasoline, regular diesel, E85 ethanol mix fuels, etc. It almost looks like it's headed that way now. They keep adding biodiesel pumps in our area (local movements doing this) and manufacturers are starting to push their own corporate sponsored energy movements (like GM's live green go yellow stuff).

We'll probably end up doing more of a europeanizing thing with our oil though. Thanks to clever trickery we'll be paying prices closer to what they're paying per gallon and end up driving around in a much wider variety of smaller or mid sized cars.

5/4/2006 12:42:45 AM

honestly i was always kinda hoping the world would run out and the us could sell a it for tons of money and become more of a powerhouse

5/4/2006 12:47:41 AM

You cannot just wake up one day and reduce your dependancy on oil.

That's like Cheney saying that we should reduce our dependance on Halliburton for rebuilding Iraq.

5/4/2006 1:09:22 AM

Ideally we would be able to drill through the center of the earth and steal everyone elses oil without them realizing it.

5/4/2006 1:12:05 AM

^hahahha

that would be awesome.

5/4/2006 1:24:52 AM

Quote :

"those trade deficits are gonna bite in the ass."

Not really.

The dollar denominated world is so much larger than it's trade deficit as to rule out the possiblity of a currency collapse. You just aren't going to see what happened to the East Asian economies happen to America, not gonna happen. A 6% trade deficit ain't shit. In 1997 South Korea was running a double digit trade deficit.

Besides, even if the dollar collapsed completely international trade to non-dollar deliniated countries is paltry compared to the economy at large. The average American probably won't even notice. U.S. Imports are only about 14% of GDP, compared to South Korea's 35+% in 1997. This is before we factor out trade with other currencies that are pegged to the dollar.

Not to mention, even after a perfect storm for South Korea in 1998, by 2000 all the economic losses had been recovered and the economy was pushing forward with a trade surplus of 6%.

[Edited on May 4, 2006 at 2:03 AM. Reason : .,.]

5/4/2006 2:01:15 AM

Quote :

"You cannot just wake up one day and reduce your dependancy on oil."

You sure? Because I totally think that, being naive as you think I am.

5/4/2006 2:13:54 AM

well, you're right. Even if the dollar keeps on falling, there's so much at stake for other economies of this world that they'd try to establish dollar stabilizing mechanisms of their own, thereby fuelling American economy.

5/4/2006 2:14:59 AM

Quote :

"yes, the war was for oil, and the next few wars will be for energy as well."

Jesus Christ... are we for real people? Are we still on this? IF THE WAR WAS ABOUT OIL THEN WHERE THE FUCK IS IT?

It was never about oil.

5/4/2006 8:42:10 AM

^ Well, "about oil" in that it had a loose connection to oil, which is undeniable. The war wasn't meant to gain access to oil but to remove Sadam which was only a problem because he had oil which he could use to cause problems in the future (the world is full of madmen, but a problem only arrises when they get wealth&power).

[Edited on May 4, 2006 at 9:50 AM. Reason : .,.]

5/4/2006 9:50:05 AM

I love how some ppl keep blaming this issue with Iran for the high gas prices. We haven't imported oil from Iran in decades...

5/4/2006 1:23:14 PM

the futures are being bought up because of Iran scares, and the Oil Companies are raising prices as much as they can. Thats how Iran is involved at the moment. However, I do see the increase in demand (with people living longer these days, and with almost everyone owning a car), but I still think the Oil Companies are falsely setting the price based on the amount of futures sold due to an Iran scare. Even if we all drove less, they will still ratio the sale price by the futures price.

5/4/2006 5:26:20 PM

lonesnark,

boozie wasnt saying gas was cheaper in alaska. he was saying we should drill in alaska. and that's the best solution i've seen anyone offer for the problem. i know plenty of people like yourself like to get your panties in a wad because bush has some rich friends. guess what, they all have rich friends. and by that i mean politicians. find me one that doesn't.

what's your solution to the gas problem?

5/4/2006 6:00:52 PM

My solution is to stop being complacent, park at the parking lot of a fast food restaurant instead of waiting 10 minutes at the drive through, and stop using so much energy.

5/4/2006 8:34:58 PM

More gas refineries.

Uniform gas standards to improve distribution and refining flexibility.

5/4/2006 9:04:01 PM

The thing that I hate is the fact that they charge the same amount for a much more "dilute" product during the winter. I think the government should regulate gas to a certain extent. They have limits on the price that can be charged for electrical kWh's so why not gas. We live in a mixed capitalism society. Just like the water industry is fully regulated by the government, gas should be to some extent also, or atleast until some other wide spread alternative is made available to consumers so the gas monopoly is busted up.

5/4/2006 9:38:35 PM

^ What regulation would you suggest for the gas industry?

You mention having limits on the price that can be charged and this is entirely possible. However, I do not feel it would result in a lower price at the pump. For why, think about the price regs placed on electricity. After Katrina the price of natural gas went way up, a fuel used extensively to produce electricity. If you remember, the state passed the higher cost right on to consumers through a "fuel surcharge" which was quite large depending on which utility you used.

Now, if you regulated refineries in the same way, the state would once again have no choice but to slap on a "crude surcharge" to cover the higher cost of crude oil.

The only way to get cheaper gasoline (ignoring costs associated with the ethanol switch) is to get cheaper Crude oil. Since crude oil is an imported commodity, there is nothing we can do. Oil must be shipped to America via tanker ships which can just as easily go anywhere in the world. If the U.S. .government decrees no one shall pay more than $40 a barrel then the tankers will all divert to other countries willing to meet their price. In other words, if China is paying $70 for a barrel of oil, what idiot sells their oil to America for only $40 a barrel?

5/4/2006 10:14:14 PM

Quote :

"well, you're right. "

Now there's something you won't see gargs say too often. GG.

5/5/2006 12:22:10 AM

well, you're wrong.

5/5/2006 2:38:35 PM

Quote :

"My solution is to stop being complacent, park at the parking lot of a fast food restaurant instead of waiting 10 minutes at the drive through, and stop using so much energy."

I wouldn't be surprised at all if your car used more gas while cranking than it does to sit idling for 2-3 minutes at the drive through.

Regardless,
The amount of gas saved using either method is overshadowed by the amount of gas you used by driving there in the first place.

5/5/2006 3:01:35 PM

Most new cars don't waste gas while "cranking"

5/5/2006 3:02:27 PM

Quote :

"(Still not as cheap as it is in Iran, some $0.40/gallon; cheapest in the world)"

http://money.cnn.com/pf/features/lists/global_gasprices/

Quote :

"Venezuela Caracas $0.12 "

derka derka.

5/5/2006 3:38:39 PM

OEP

Nobody cares.

You live in a shitty country.

You can't get laid.

You have no future prospects.

And if anyone bothered to email your ISP the shit you post here

You'd probably be thrown in jail.

By all means, continue standing on your "omgarrr America" soap box.

5/5/2006 4:11:56 PM

Quote :

"You have no future prospects. "

That is debatable.

5/5/2006 4:14:26 PM

Nobody cares.
You cared enough to reply.

You live in a shitty country.
That is a subjective statement, and typical of arrogant Americans who think America is the "best" country in the world, whatever "best" means when making such a subjective assessment. As any country, it is good for some things, and shitty for others.

You can't get laid.
I didn't know you had a camera following me around thousands of miles away.
Or, what if I didn't want to get laid until I got married? Again, typical of Americans to think that all young people want to get laid with immediacy.
And to counter your assumption that one can't get laid here, all I can say is you have no clue about this place.

You have no future prospects.
I have a GOOD AMERICAN education, so I make mad bank, and garner respect. See, where America is good, I acknowledge it, unlike you, who sees the world in black and white (like Bush).

And if anyone bothered to email your ISP the shit you post here
This site is not blocked, so I can't get into trouble. In fact, the new King is trying to open up the country, and towards that goal a lot of sites that used to be blocked are now open. Go ahead email anybody you like... why stop at threatening?

You'd probably be thrown in jail.
See above.

By all means, continue standing on your "omgarrr America" soap box.
By all means, continue with your black-and-white goggles.

5/5/2006 4:31:59 PM

don't worry

SandSanta ain't "American"

5/5/2006 4:33:08 PM

So what is he?

From his name in his profile, I think he is Turkish, if that really is his name.

So what's so great about his country?

The same ethnic, political and religious repression that he is decrying in the country I live in?



It is stupid comparing countries wholesale anyway.

You can compare one aspect and for example, say:

Country X is better than Country Y in health care.

But saying

Country X is better than Country Y

or Country X is the best country in the world

is ridiculous.

Sure, the country I live in, is quite shitty in a lot of aspects, but it is quite good for other things, for example, making money (no taxes, low cost of living).

So, all-encompassing statements are stupid.

5/5/2006 4:45:53 PM

Quote :

"Doesn't affect me though, as I don't have a car."

You imply that you have already graduated, so how do you get to work everyday?

5/5/2006 6:12:44 PM

Quote :

"he dollar denominated world is so much larger than it's trade deficit as to rule out the possiblity of a currency collapse."

I don't know that this is true. Right now I am betting against a hard landing on the dollar but I wouldn't say its impossible. Either the current account deficit is sustainable or it is not. I am on the side that says the evidence suggests that it is sustainable.

If it is not, however, then there must be a correction somewhere. My guess is that the dollar would slide. Its not inconcievable that a sliding dollar could prompt a panic sell off.

5/5/2006 6:20:17 PM

^ the economy is sufficiently large enough that sufficient speculators, particularly in Europe, exist to plant a floor upon any slide.

5/5/2006 7:32:37 PM

As a specualtor why would you want to go long on a falling currency? The only way you could avoid losing money is if other people did the same.

Paul Krugman likes to compare the US dollar to the Nasdaq and suggests that it is only supported by the greater fool theoy - there will be some greater fool to sell your stake to later. He and I disagree both on the Nasdaq and the dollar but only because we disagree about the fundamentals.

If he is right about the fundamentals I don't see how depending on speculators is safe in the long run.

5/5/2006 7:50:01 PM

^ It does not depend entirely upon the greater fool theory, which does help, I must say. America has real wealth, lots of it. If the U.S. currency fell, substantially, then what idiot wouldn't take their millions of british pounds and buy 50% of General Electric and Microsoft?

5/5/2006 9:47:57 PM

That only works if you are

A) Moving to the U.S.

B) Believe that the dollar will recover

Yes, you own a large stake in GE but what does that give you? GE pays dividends in dollars which you must then convert back to pounds to buy stuff in the UK. The stock is devalued but so are the dividends. Or the Capital Gains if you prefer to hold.

The rate of return does not change because of a discrete jump in the exchange rate.

Incidently (A) is my argument for why a crash is unlikely. If the dollar crashes then that would induce many rich Europeans to move to the U.S. The flow of resources from their European holdings to the U.S. would settle the current account.

Or as I put to Krugman, tradional trade theory depends on bringing the goods to the people. In today's jet setting world it is equally plausible to take the people to the goods. Then all kinds of "non-tradables" such as real estate and direct services become tradable.

5/5/2006 10:00:51 PM