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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)

Ragnar

Mar-23-13 12:37 AM

The Feds artificially reduce the inflation rate by not counting fuel, among other things.

The average American has to commute to a job and that commute costs money.

The government makes 6 times what Big Oil makes on each gallon.

Apple, Microsoft, Google, banks and many other companies earn far more per dollar profit than Big Oil so if you are going to blame Exxon Mobil for their "gouging", go yell at Apple for the cost of your iPhone, as well.

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icecream

Mar-23-13 1:59 AM

I tried to talk to Wrath, about the global economy months ago...

His main reply was "drill baby drill" ..

He refused to acknowledge my explanation of gas prices verses oil production..

It's being shipped to the world market...

Hope you get it now Wraith...

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icecream

Mar-23-13 2:36 AM

We should yell at ANY company for price gouging--but IS IT price gouging or what the GLOBAL/WORLD market will pay??? THIS is true economics..

Fuel and food have not been counted in the inflation rate--TRUE! Is this fair--I say not, but I am old and cannot remember if food and fuel were ever counted--so I agree with you...It is not fair...

Commuting--I lived and worked in SO CAL for many years...My commute was only 22 miles and 4 major freeway interchanges... I had it easy...Many people in SO CAL commute 90-100 miles one way for a low paying job...I don't know how they do it...They still are on the Freeway, or train as I did, the last few years of working in LA...

How do you know the government makes 6 times what big oil makes on each gallon??? Where is this information printed??? I am seriously curious...

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mikeyd

Mar-23-13 7:19 AM

20 years from now we'll be living the same way the chinese were 20 years ago.get ready for 50 cent an hour jobs.one thing about it is that there is no air pollution here.the global warming is killing us all.where's al gore.

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daWraith

Mar-23-13 7:36 AM

Creamed, another reason for the high oil price is that oil is priced in US DOLLARS. News FLASH: thanks to the FED printe $85 BILLION US dollars per MONTH, the US dollar is not worth what it was 20 years ago in the world market.

So it takes WAY MORE US DOLLARS to buy that same barrel of oil.

THERE IS A PRICE TO BE PAID FOR THE OBAMA SPENDING MORE MONEY THAN ANY PERSON IN THE HISTORY OF THE WORLD.

You are paying for it every time you fill up.

THANKS OPIE!

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daWraith

Mar-23-13 7:41 AM

Creamed, Ragnar is wrong on his numbers.

Exxon makes about 2-3 cents per gallon profit on a gallon of gas.

In California, the state tax on gas is about 60 cents a gallon.

So the Government makes about 20-30 TIMES the profit on gasoline as the MANUFACTURER.

Exxon has to take all of the risk of exploration, production, and refining of the oil.

The government takes ZERO RISKS and makes 30 TIMES the profit.

So WHO is the PIG that is GOUGING the AMERICAN PUBLIC?????

Exxon paid MORE in taxes in the USA that its PROFIT from operations in the USA!!!

Exxon paid more in taxes than ANY COMPANY in the HISTORY of the USA.

You are dumber than a bag of hammers, Creamed. You prove WHY you are a LIBERAL: TERMINALLY uninformed.

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daWraith

Mar-23-13 7:45 AM

Of course, Opie thinks WE DON'T NEED THE XL PIPELINE.

Because ....... uhhhhhh ......... uuuuhhh... the ENVIRONMENT?

BULLS****!!! Over 25,000 miles of oil pipeline ALREADY CROSS the Olagawa Aquifer in Nebraska NOW with no problems.

Canada sells shale oil to the USA for about $25 a gallon LESS than OPEC!!! The oil is thicker and requires special refineries.

But it produces the same gasoline and diesel fuel that we use.

Of COURSE the Keystone XL would be big benefit to the USA, producing between 20,000 and upwards of over 100,000 good HIGH PAYING JOBS.

ALL PAID FOR with NOT ONE DIME of US TAXPAYER MONEY!!!!!!!

Hey CREAMED: how many people working at Solyndra these days, eh??

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zip064

Mar-23-13 7:50 AM

Obama prices - duh!!!!!!!!!

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oldmansvan

Mar-23-13 8:51 AM

Zip, the all time high gas prices were in the summer of 07. Was that buuush prices? duuuh!!!!!! Lets give more tax breaks to the oil companies

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GETACLUE

Mar-23-13 8:57 AM

daWeeb....." Until the US is not importing oil, the price of gasoline will remain HIGH."

"You are dumber than dirt" if you think that BIG OIL is going to sell product at a reduced rate in the USA, The Canadian oil imported will be sold for WORLD MARKET PRICE.

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wonderwhy

Mar-23-13 9:26 AM

I see duwhop is all about supporting the Koch Brothers with his faux news analogy. While calling others names and contradicting himself. Oh, it is worth a good laugh to tune in once in a while.

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wvhoopie

Mar-23-13 10:03 AM

I'm sure glad that we give the oil company's our tax dollars to the tune of over $4 billion each year on top of the vast profits they are making off of us! Corporate welfare must NOT be cut!!

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Ragnar

Mar-23-13 11:01 AM

Hoopie

In 2012 alone, Exxon Mobil paid more than $31.1 billion in income taxes. This does not include the gas taxes collected at the pump, property taxes, excise taxes, payroll taxes and taxes and fees imposed by the countries where they drill.

I will GLADLY give $4 billion per year to six companies who pay back more than $60 billion in income taxes alone!

We make out like bandits on Big Oil!

As for Canada-they are exporting their western oil to the US because the greenies in Canada will not allow for an East-West pipeline to be built. So they export their oil and import our sweet crude.

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elmgrovedude

Mar-23-13 12:44 PM

During Bush's administration, he and Chaney were blamed for high gas prices because, as Nancy Pelosi stated, "we have two oil men in the White House". The not so subtle insinuation was they were responsible for bumping up prices for their business buddies.

As has been stated by other posters, the group that is price gauging is the government.--In one wishes to make the case against big business, big government is just as bad if not worse.--If we want to blame one president for high gas prices, we must blame the other.

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WVEXPAT

Mar-23-13 1:13 PM

Oil industry sales are around $400 billion so go ahead and get rid of that $4 billion a year tax credit for capital investments that all industries take advantage of yearly! Exxon alone pays more in taxes than 2/3 of American citizens.

"Exxon’s tax rate was 42.9%, Chevron’s was 48.3% and Conoco’s was 41.5%." (Forbes) But it's ok that friends of Obama like GE, Google, & GM pay little (if any) in taxes and the Navy pays $26/gallon in fuel (i.e. our tax dollars).

Obama has added $4 Billion a DAY in debt (Politifact) and Hoopie & Oldman whine about a capital expenditure tax credit!

Obama supporter Google hides more income in the Cayman Islands than big oil ever gets in investment credit!! Obama gives fatcat bankers $85 BILLION A MONTH yet Hoopie and Oldman prefer class warfare over logic!!

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UNCOMMONSENSE

Mar-23-13 2:01 PM

So much for the "energy independence" scam

We will NEVER be "energy independent" as long as there are fortunes to be made

It is ALL about supply and world demand

OUR oil, natural gas and refined familiy of products are simply being sold to the highest global bidder with no regard for OUR economy or security it's about profit and there is nothing wrong with making a profit

And demand is at record pace so the price will increase at the very same rate

But if you look in the high school parking lots, you still see HUNDREDS of massive gas guzzling trucks and SUVs so either parents are just plain stupid or the gas prices aren't high enough yet

Record numbers of gas guzzlers are packing local roads so people obviously aren't feeling any "pain at the pumps"

If we were REALLY concerned about the cost of fuel, we would be taking hundreds of thousands of trucks off the roads and transporting by TRAIN at a FRACTION of the cost!

NOTHING costs more than transpo

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daWraith

Mar-23-13 3:33 PM

Clueless ""You are dumber than dirt" if you think that BIG OIL is going to sell product at a reduced rate in the USA, The Canadian oil imported will be sold for WORLD MARKET PRICE."

Rigzone dot com, 1/1/2013

Within the last two weeks, the oil market delivered some bad news for oil and gas companies operating in Western Canada. The bad news can be summarized by the headline of an article on the commodity page of the Financial Times: "Canada's oil becomes cheapest in world amid glut in Alberta." With the price of Canada's heavy oil this low, it is selling for less than half the $111 a barrel price (December 26, 2012) consumers are paying for Brent oil, the global oil benchmark.

Furthermore, CANADA'S OIL IS NOW SELLING AT ABOUT $41 A BARREL BELOW THE UNITED STATES' BENCHMARK WEST TEXAS INTERMEDIATE CRUDE OIL, WHICH IN TURN IS TRADING NEARLY $23 A BARREL BELOW BRENT.

You dumbazzes are entitled to your OWN OPIONIONS, but NOT your own set of facts.

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daWraith

Mar-23-13 3:35 PM

Gee Clueless dumbass, looks like Canadian oil is selling for over $80 LESS per barrel than OPEC!

BBBWHAHAHAHAAHAH!

ROTFL!!

WIMPL WIMPL WIMPL!!

L M F A O!!!!

CLueless and Creamed can eat ****t and BARK at the MOON with this Global Market BULLSPIT!!!!!

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daWraith

Mar-23-13 3:37 PM

EXCUSE ME $OVER $60 LESS THAN OPEC, which is about 60% LOWER than OPEC.

WAAAAAAH!!! Global MARKET! WAAAAH! POOR Obama is a victim of the GLOBAL market, waaaaaaaah!!!

NO, WE THE PEOPLE are gasoline price victim of his dumbass policies!

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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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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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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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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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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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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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