We hope everyone enjoyed the weekend, and took some time to honor Memorial Day. Did the gas prices prevent any out of the area trips your family hoped for? Gas has come down quite a bit in the last few weeks, but don’t get your hopes up yet. Summer is just about to start, and prices will increase up to $5.00 a gallon if predictions by Goldman Sachs live up to the hype.
It makes you wonder what exactly is causing the prices to go up. What’s your theory?
It’s really not all that complicated – the reason is the gas company’s (and the stockholder’s) greed.
One reason is that several states now have laws that require a particular blend of gas be sold in their state. This comes from the EPA for air quality. There are only so many refineries and they are having to blend smaller batches which costs more and takes more time. Another big reason is that oil companies are greedy- price increases go up fast but price decreases happen slowly. And the unsettled middle east. Several countries where we import oil from are in turmoil. That drives the cost up right from the source.
Maybe it is our stupid president who doesn’t want to drill.
oil companies are greedy?
stockholders greedy? they are usually regular folks with pension plans invested in oil companies..not just “fat cats”
maybe take a look at what the government makes in taxes on a gallon of gas.
and they do absolutely nothing to earn it..don’t drill, don’t deliver, don’t take risk..
who are the greedy ones again?.
some reasons for high gas prices:
special blends of gas
lack of refineries (as far as I know no new refineries have been built for 30 years or so)
EPA and environmentalists
OPEC
turmoil and uncertainty
lack of domestic drilling
more demand from rising foreign economies (China and India, etc)
lack of competition from many small oil companies bought up and/or shut down by big oil companies.
to name a few.
And throw in the disaster that is ethanol, which is tax payer subsidized and has been a complete failure, causing corn prices to soar and fuel related running problems for the motor.
Drill baby drill or frack baby frack.
To blame the gas co’s and their stock holders and not lay any blame on the govt is not being realistic about the whole picture.
Dagny….you are absolutely right on all counts. Ethanol is a rip for the taxpayer.
corn is the basis of almost all food…
IMO, you don’t use food crops to put in the gas tank.
makes food prices rise and does no good.
and government shouldn’t be using tax dollars to subsidize it..
Drill and Frack.