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Drivers Endure Pain At the Gas Pumps

Foreign demand is latest reason cited for increase

March 23, 2013

NEW YORK — (AP) The U.S. is increasing its oil production faster than ever, and American drivers are guzzling less gas. But you’d never know it from the price at the pump....

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(44)

1nceaferrian

Mar-25-13 8:45 AM

If only the powers that be in DC took as much time with some of these issues as the people who comment and complain on this site, we'd be a more prosperous country. Look at the time and effort some of you people have put in, just on this topic alone. I'm betting it will be the same bunch commenting on everything else. What a shame.

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1nceaferrian

Mar-25-13 8:43 AM

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daWraith

Mar-25-13 7:55 AM

You Bar Stool Einsteins need to write a paper on how the First Law of Economics does NOT work.

Harvard Business School, the Wall Street Journal, Bloomberg, and CNBC are all waiting with anticipation _____________________________ . . . . .

{. . . . . crickets . . . . .. }

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daWraith

Mar-25-13 7:52 AM

The "word" is FUNGUS, Wienerdawg, as in a paralyzing growth that encompasses your brain, making it non fucntional and prone to delirious outbursts about crap you know nothing about!

"Fungible" basically means INTERCHANGEABLE, or "the same" or "equivalent".

By your OWN DIATRIBE, OIL is NOT fungible; there is Arabian SWEET CRUDE, which is the best, there is Texas Sweet which is good, and there is the Canadian Tar Sands which requires SPECIAL REFINING to produce diesel and gasoline.

But it can and IS being done. New technologies make it easier and easier to extract and NEW refinieries make it easier to refine.

The cheapest GASOLINE prices are foudn in the LARGEST OIL PRODUCING COUNTRIES.

DUH! DRILL BABY DRILL!

When the US is STILL IMPORTING 50% of its needs from high priced OPEC, of COURSE the price of gasoline will be high.

With more domestic plus cheap CANADIAN OIL, the price will drop.

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daWraith

Mar-25-13 7:45 AM

Anybody who thinks the First Law of Economics doesn't apply to oil has tar sands for brains!

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GETACLUE

Mar-25-13 6:56 AM

If anybody believes that Keystone and Canadian oil will lower the price of gasoline at the pumps here in America, I've got a nice bridge that connects Wheeling and an Island I could sell you. BUT WAIT ACT NOW AND I'LL THROW IN THE ISLAND TOO!!!!

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daWraith

Mar-25-13 6:31 AM

Idiots, gasoline was $1.62 a gallon at the end of the BUSH BUSH BUSH administration in 2008.

Tell us WHY, [bleeping} Globalists______________________????

WAAAAAAAAAH! It isn't Lord Opie's fault, WAAAAAAAAAH!!!!

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daWraith

Mar-25-13 6:29 AM

geo, natural gas prices are at historic lows and heating bills are the lowest per unit of NG used in 30 years.

It is happening right under your nose. Free market capitalism at work.

Now when pipelines and ports are build to ship NG to the rest of the world and there is COMPETITION for the Natural Gas, the PRICE will RISE. Also the Free Market at work.

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F15Eagle

Mar-24-13 8:33 PM

someone is All ThAAt on here..ay

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geogreek

Mar-24-13 4:56 PM

DaWraith.You know i heard the same old story when they bought the leases in the ohio valley for the gas and oil.Now after all these years the price is still high and you still believe that the keystone pipeline will lower the gas price.That will happen when*****frizzes over.

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Wheeldog

Mar-24-13 3:46 PM

The word is "fungable"! Except in countries that subsidize the cost of energy (particularly oil) fuel prices reflect world supply and demand. China, India and even oil producing nations in the Middle East are consuming more and more oil driving up the price on the world market. The U.S. oil companies are simply setting their prices for U.S. fuel based on the world market. Another factor is the cost of developing and processing oil that has to be factored into the selling price. Tight oil, tar sands and low grade sour oil are all expensive to develop and refine into usable products. The days of the Texas geysers is over. That was the "easy oil". Now it is largely gone, and we are left with dregs. The days of $2 gasoline are ancient history.

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daWraith

Mar-24-13 2:55 PM

WWU, but but but it is GLOBAL market and poor widdle Owebama is helpless to control it, it is not his fault, waaaaaaaaaaah!

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GETACLUE

Mar-24-13 9:10 AM

daWeeb obviously didn't read the article he is bloviating about.

FROM THIS ARTICLE: "The U.S. is increasing its oil production faster than ever, and American drivers are guzzling less gas. But you'd never know it from the price at the pump."

"So is the high price of gasoline a signal that markets aren't working properly?

Not at all, experts say. The laws of supply and demand are working, just not in the way U.S. drivers want them to. U.S. drivers are competing with drivers worldwide for every gallon of gasoline. As the developing economies of Asia and Latin America expand, their energy consumption is rising, which puts pressure on fuel supplies and prices everywhere else.

The U.S. still consumes more oil than any other country, but demand is weak and imports are falling. That leaves China, which overtook the U.S. late last year as the world's largest oil importer, as the single biggest influence on global demand for fuels. China's consumption has risen 28 percent in

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mikeyd

Mar-24-13 8:58 AM

college in pajamas makes everybody smart.

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GETACLUE

Mar-24-13 8:55 AM

Ragnar gas taxes collected at the pump, and payroll taxes. ARE TAXES PAID BY THE CONSUMER AND THE EMPLOYEE NOT THE CORPORATION.

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daWraith

Mar-24-13 7:56 AM

AAAAAAAAhhhhhhhhh!!

Another day, another 10,000 people added to the food stamp rolls and another $4 BILLION in DEBT for our children to pay off . . . .

And a handful of hillbillies in D E N I A L , , , , ,

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daWraith

Mar-24-13 7:54 AM

Roverass you have a PHD in Stupidity from Podunk U if you can't figure out that His Highness, the Lord Barasskiss of Obama hasn't run the poor in this country further into the crapper in the worst presidency in the history of the country.

Maybe your vast statistics knowledge can explain how more people voted for Obama in the Cleveland are than there ARE people in the Cleveland area???

Like maybe voter fraud . . . . .

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rover1958

Mar-24-13 2:43 AM

wRAT "Too bad you are a dimwit WVU grad who can't figure that out."

Oh, I don't know....Like the majority I easily figured out it wasn't like your Nostradoofus prediction of, "Romney in a landslide". Guess they don't teach probability theory at Ohio Stupe U. (OSU).

Rover WVU Grad (BA) Central Michigan Univ Grad (MA) National Defense Univ Grad

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WVEXPAT

Mar-23-13 11:43 PM

@Rover, It's elementary! The inequality gap has spread under the Obama administration. Obama's fiscal policy has made the investor class wealthy on the backs of the poor and elderly. It's not the 1% that has done this but Obama & Ben Bernanke! Obama will continue to enrich the Wall Street crowd while you "useful idiots" continue to kneel!

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WVUGEO

Mar-23-13 10:10 PM

According to Dr. Jerald Fletcher, Director and Professor at WVU's Natural Resource Analysis Center, in a 2004 presentation entitled: "Coal to Clean Fuel; The Shenhua Investment in Direct Coal Liquefaction", it is possible to make a liquid crude oil equivalent, from Coal, at a cost of $24 per barrel.

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WVUGEO

Mar-23-13 9:49 PM

Rover1958, unfortunately, is factually incorrect. We do export some oil, but that's more due to the geography of where the oil is produced. Overall, the United States consumes between 18 and 19 million barrels of oil per day; but, we pump, from our own domestic wells, only a little over 9 million barrels per day. The US has to import at least as much oil as she produces, and is a net importer. Shale oil so far has had only a minor impact, and, by sometime in 2014, is expected only to offset declines in conventional fields. There will be no net gain because of it. We are not, sadly, "awash" in oil, nor is "energy independence", based on conventional or shale resources, "on the horizon".

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daWraith

Mar-23-13 9:09 PM

roverass, "They are using the windfall in energy NOT to benefit the average Americans....they are keeping the price artificially inflated to milk and bilk us forever."

YES! That is EXACTLY what your Lord and Master, his holiness Barackass of Obama is doing to you by not building the Keystone XL and exploring ALL sources of energy, not subsidizing GREEN LOSERS like Solyndra and Fisker.

Too bad you are a dimwit WVU grad who can't figure that out.

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LogHog

Mar-23-13 8:44 PM

Govt. induced inflation is the worst kind.. the value of gas is the same as it was but it takes many more dollars to buy it..

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rover1958

Mar-23-13 8:16 PM

It's elementary. The 1 percent, the Romneys and their ilk have bilked we, the 47 percent, for decades claiming the high cost of imported petroleum products. Now, with America awash in shale oil and energy independence on the horizon....these sleazebags won't let go! They are using the windfall in energy NOT to benefit the average Americans....they are keeping the price artificially inflated to milk and bilk us forever. In a word...it's guys like 'wRAT', a useful idiot for the rich as he mouths their lies. Know him..for what he is!

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daWraith

Mar-23-13 3:39 PM

Continuing proof that a LIBERAL is a LIBERAL because they are completely misinformed on the FACTS.

Gasoline price on Dec. 31, 2008 (last day of last year of BUSH BUSH BUSH): $1.62.

How's that Hope and Change working out for Ya Idiots???

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