bigskyvikes Posted October 25, 2014 Posted October 25, 2014 John Kerry met with the Saudi's, who wanted to starve out ISIS, Russia, and Iran from oil income. Kerry gladly endorsed it, because the admin is anti-oil but pro-green energy, but green energy needs even higher oil prices. The best of both worlds for Obama before the election. With gas prices down, maybe the Dems can get some more votes in their view, but the public sees incompetence in handling of health care, the IRS, ISIS, Russia, hatchets, and Ebola. Its 2.62 in the VA, TN, NC border regions and dropping 0.05 a week. State and Fed taxes are a big part, so as the oil price goes down, gasoline prices are not proportional. I knew at sometime it had to come out that it is Obama's fault! Who are you guys going to blame for EVERYTHING when he is done? Before you start, no I'm not a dem, not a socialist, not a tree hugger, actually a registered republican voter that is embarrassed of my greedy party... But I DO NOT blame everything bad on Obama! Quote
Oxbow6 Posted October 25, 2014 Posted October 25, 2014 Before you start, no I'm not a dem, not a socialist, not a tree hugger, actually a registered republican voter that is embarrassed of my greedy party...that hasn't bought into this wonderful idea of wealth redistribution. FYP Carry on............ Quote
Goon Posted October 25, 2014 Posted October 25, 2014 $2.99 in MSP Two weeks ago, gas was 2.94 a gallon in Bemidji. Quote
MafiaMan Posted October 25, 2014 Posted October 25, 2014 I knew at sometime it had to come out that it is Obama's fault! Who are you guys going to blame for EVERYTHING when he is done? Before you start, no I'm not a dem, not a socialist, not a tree hugger, actually a registered republican voter that is embarrassed of my greedy party... But I DO NOT blame everything bad on Obama! http://news.investors.com/ibd-editorials/022112-601827-obama-shifting-talk-on-high-gas-prices.htm "Candidate" Obama certainly knew who to blame... Quote
Siouxphan27 Posted October 25, 2014 Posted October 25, 2014 A 20 oz Mountain is $1.69 at Holiday! Nevermind the whining about gas prices, did ISIS blow up a PepsiCo pipeline somewhere? I've always found it interesting...... a gallon of fuel that propels a 6000# vehicle down the road at 80mph, and requires a journey to the center of the earth to obtain, followed by a complicated refining process, goes up in price a few dimes and it's a national travesty. Yet no one seems to mind paying $8 a gallon at the same store for water, that some guy just bucketed out of a stream and ran thru a filter. Quote
Hayduke Posted October 25, 2014 Posted October 25, 2014 $3.05 here in Colorado..north of Denver. I would bet at or under $3.00 in Denver metro... Quote
LuvHockey Posted October 25, 2014 Posted October 25, 2014 $2.89 at Fargo Costco today. Premium $3.24. Quote
darell1976 Posted October 25, 2014 Posted October 25, 2014 A 20 oz Mountain Dew is $1.69 at Holiday! Nevermind the whining about gas prices, did ISIS blow up a PepsiCo pipeline somewhere? Target has 1.5 liters of Pepsi, Coke. Mt. Dew etc for $1.09. If you go to gas stations you have to try for the deals. 2 for 3 bucks or something like that. Quote
Goon Posted October 25, 2014 Posted October 25, 2014 Diet Coke, or nothing for me. But you can't run your car on that. Quote
bigskyvikes Posted October 25, 2014 Posted October 25, 2014 FYP Carry on............ You mean all the benefits the already rich get? Yea you are correct I haven't bought into it. Carry on... Quote
bigskyvikes Posted October 25, 2014 Posted October 25, 2014 http://news.investors.com/ibd-editorials/022112-601827-obama-shifting-talk-on-high-gas-prices.htm "Candidate" Obama certainly knew who to blame... Yes he did, but no president ever does that, do they? Quote
MafiaMan Posted October 25, 2014 Posted October 25, 2014 Yes he did, but no president ever does that, do they? What's that, still blame the previous guy six years into his tenure on the job? Maybe if Michelle O can start up another witty Twitter # campaign, we'll find lower gas prices. Right after we find those 200-300 missing girls in Nigeria... Quote
Oxbow6 Posted October 25, 2014 Posted October 25, 2014 Maybe if Michelle O can start up another witty Twitter # campaign... #IALTO 1 Quote
UND92,96 Posted October 26, 2014 Author Posted October 26, 2014 Two weeks ago, gas was 2.94 a gallon in Bemidji. I think it actually got down to $2.85 in Bemidji, but now it has gone back up to around $3.06 there. Bemidji had the lowest prices in the area for awhile, but now it appears that distinction goes to Fargo again. Quote
fightingsioux4life Posted October 26, 2014 Posted October 26, 2014 I knew at sometime it had to come out that it is Obama's fault! Who are you guys going to blame for EVERYTHING when he is done? Before you start, no I'm not a dem, not a socialist, not a tree hugger, actually a registered republican voter that is embarrassed of my greedy party......that hasn't bought into this wonderful idea of wealth redistribution. But I DO NOT blame everything bad on Obama! FYP Carry on............ Oh get off it; the only "wealth redistribution" that has taken place over the past 30 years is UP, UP and UP some more. Big Oil is just another example of this. When you have a half-dozen big oil conglomerates controlling the world's oil supply, there is no "free market" for oil. I would argue there really isn't a "free market" for anything anymore, but I'll stick to the oil market. What happened to all that "Drill Here, Drill Now, Pay Less" garbage? Isn't working that way, is it? All these pricks need to do when their CEO wants another big, fat bonus check is to shut down a couple of refineries because some rubber hose sprung a leak and it will take 10-14 days to fix. Then gas prices go up immediately an average of 5 to 10 cents/gallon. Gee, I wonder how that happened? Honestly, if I hear one more bow-tied, smarmy, polyester-suit wearing classical economist blather on and on about "supply and demand" and "this is how the free market works" as it pertains to oil, I might throw up. The game is rigged by the global oil oligarchy, which was never anticipated by the authors of Econ 101 textbooks. End rant. Quote
fightingsioux4life Posted October 26, 2014 Posted October 26, 2014 You mean all the benefits the already rich get? Yea you are correct I haven't bought into it. Carry on... Didn't you hear? If you are a corporate CEO or the sole proprietor of a global-scale business, you are a "job creator" (what they don't tell you is that those jobs are in the Third World and not the United States) and thus are entitled to all the tax breaks, tax shelters and "goodies" you can extort from Washington Beltway politicians. C'mon man, that is what the country was founded on, don't you know? (extreme sarcasm alert! ) Quote
SiouxVolley Posted October 27, 2014 Posted October 27, 2014 Oh get off it; the only "wealth redistribution" that has taken place over the past 30 years is UP, UP and UP some more. Big Oil is just another example of this. When you have a half-dozen big oil conglomerates controlling the world's oil supply, there is no "free market" for oil. I would argue there really isn't a "free market" for anything anymore, but I'll stick to the oil market. What happened to all that "Drill Here, Drill Now, Pay Less" garbage? Isn't working that way, is it? All these pricks need to do when their CEO wants another big, fat bonus check is to shut down a couple of refineries because some rubber hose sprung a leak and it will take 10-14 days to fix. Then gas prices go up immediately an average of 5 to 10 cents/gallon. Gee, I wonder how that happened? Honestly, if I hear one more bow-tied, smarmy, polyester-suit wearing classical economist blather on and on about "supply and demand" and "this is how the free market works" as it pertains to oil, I might throw up. The game is rigged by the global oil oligarchy, which was never anticipated by the authors of Econ 101 textbooks. End rant. Big Oil has not been thriving, even with shale oil. The real winners are companies like Continental Resources, Whiting, Pioneer, EOG, Devon, Apache, Noble, Anadarko, Southwestern, and recently Cheasapeake who foresaw what fracking would do to change the country. This country has begun to be a manufacturing powerhouse again because of those companies. Nat gas is the cheaper by a factor of three than Europe, China, and Japan. The US will be energy independent for the first time in 50 years, and we won't be beholding to Saudi sheiks or Russian strong men or to the seven sisters (Exxon, Mobil, Chevron, BP, Shell, Total and ConocoPhillips). Those small independents are now challenging for leadership in the oil world. If you had paid attention to the Bakken thread and invested you would have had a tremendous opportunity to increase your wealth in only five years. 1 Quote
Cratter Posted October 27, 2014 Posted October 27, 2014 Big Oil has not been thriving, even with shale oil. The real winners are companies like Continental Resources, Whiting, Pioneer, EOG, Devon, Apache, Noble, Anadarko, Southwestern, and recently Cheasapeake who foresaw what fracking would do to change the country. This country has begun to be a manufacturing powerhouse again because of those companies. Nat gas is the cheaper by a factor of three than Europe, China, and Japan. The US will be energy independent for the first time in 50 years, and we won't be beholding to Saudi sheiks or Russian strong men or to the seven sisters (Exxon, Mobil, Chevron, BP, Shell, Total and ConocoPhillips). Those small independents are now challenging for leadership in the oil world. If you had paid attention to the Bakken thread and invested you would have had a tremendous opportunity to increase your wealth in only five years. I don't know if "not thriving" is the correct term as Chevron and Exxon Mobil have profits of $26 and $40 Billion respectively making them the most profitable US Corporations. Every company in the US wishes they were Exxon Mobil. 1 Quote
Goon Posted October 28, 2014 Posted October 28, 2014 I hate to let facts get in the way of a good argument, but... In 2011, Exxon took in $433.5 billion in revenues from its oil business,. But what Exxon calls "cost of goods sold," which includes the cost of the oil it extracted as well as certain production and manufacturing expenses, ate up $304 billion of those revenues, and operating costs consumed another $75.4 billion. Factor in the $31 billion income tax check Exxon wrote to various world governments (a number equal to 75% of its profits), and a host of other, smaller costs. Even when you add in Exxon's $15.3 billion of "income from affiliates," and a $2.8 billion "gain on sale of assets," and Exxon ended up with "only" $41 billion on the bottom line. 1 Quote
Cratter Posted October 28, 2014 Posted October 28, 2014 I hate to let facts get in the way of a good argument, but... Just like I said. 1 Quote
runaroundsioux Posted October 28, 2014 Posted October 28, 2014 It never fails to amaze me that Americans are under the assumption that they are entitled to life, liberty, the pursuit of happiness....and cheap gas. As they drive their $50,000 Suburbans and crew cab 4whl. drive pickups. Gas at $3.00 is far cheaper today than it was at $1.00 30 years ago with todays dollar value.Gasoline is a commodity traded on an open market the same as wheat,corn,gold etc. If the evil "big oil" companies controlled the price of oil, how could it possibly drop from $140 a bbl. to $80 now. ($66 for ND crude.) Maybe they just got tired of making so much money. 2 Quote
fightingsioux4life Posted October 28, 2014 Posted October 28, 2014 It never fails to amaze me that Americans are under the assumption that they are entitled to life, liberty, the pursuit of happiness....and cheap gas. As they drive their $50,000 Suburbans and crew cab 4whl. drive pickups. Gas at $3.00 is far cheaper today than it was at $1.00 30 years ago with todays dollar value.Gasoline is a commodity traded on an open market the same as wheat,corn,gold etc. If the evil "big oil" companies controlled the price of oil, how could it possibly drop from $140 a bbl. to $80 now. ($66 for ND crude.) Maybe they just got tired of making so much money. The world price for crude oil fluctuates from day to day and week to week based on world events. But that doesn't prove the existence of a "free market". The fact remains that a small number of big oil conglomerates control the world's oil supply. The biggest problem with oil prices is all that "future's market" speculation on prices. Do these big-shots have some special power to predict the future? No, they just "guess" what will happen in the future. And in the long run, it always favors Big Oil over everybody and everything else. Why do you think we put up with Saudi Arabia's horrible human rights record, but slap big sanctions on Iran when there is little or no difference between the two? The answer is spelled O-I-L. Even drilling more at home won't change that. And I don't feel sorry for them over all the "expenses" they are forced to absorb. If you can't make money selling a commodity that the whole world needs almost as much as food and water, then you have no one else to blame but yourself. The only "free market" I know of is in the retail grocery business. That is as cutthroat as it gets. That is why the Sunday paper is loaded with grocery store ads. But most of the rest of our economy is controlled by big corporations and big businesses who are big enough to shield themselves from market forces that small to medium-sized businesses have to contend with day after day. Big Oil falls into that category. Quote
SiouxVolley Posted October 28, 2014 Posted October 28, 2014 I don't know if "not thriving" is the correct term as Chevron and Exxon Mobil have profits of $26 and $40 Billion respectively making them the most profitable US Corporations. Every company in the US wishes they were Exxon Mobil. Exxon ahd Chevron were big before the shale revolution, and continue to be big. They haven't grown nearly as much as the shale companies. They consider the shale wells to small to piss around with. The way that they will benefit it to buy whole a couple of shale companies. ExxonMobil did buy one the big shale companies in ND: XTO. Apple and Google are almost as big, and you don't hear many people complaining about iPhone or android prices. $100 oil prices is very very good for ND now, just as it has been for Norway, Iran, Saudi Arabia, and Russia. If it gets to $60, the economy if GF and ND could go south. Which is better for you? $2.75 gas prices or a massive reduction in property or income taxes and rapidly growing incomes? Quote
runaroundsioux Posted October 28, 2014 Posted October 28, 2014 The world price for crude oil fluctuates from day to day and week to week based on world events. But that doesn't prove the existence of a "free market". The fact remains that a small number of big oil conglomerates control the world's oil supply. The biggest problem with oil prices is all that "future's market" speculation on prices. Do these big-shots have some special power to predict the future? No, they just "guess" what will happen in the future. And in the long run, it always favors Big Oil over everybody and everything else. Why do you think we put up with Saudi Arabia's horrible human rights record, but slap big sanctions on Iran when there is little or no difference between the two? The answer is spelled O-I-L. Even drilling more at home won't change that. And I don't feel sorry for them over all the "expenses" they are forced to absorb. If you can't make money selling a commodity that the whole world needs almost as much as food and water, then you have no one else to blame but yourself. The only "free market" I know of is in the retail grocery business. That is as cutthroat as it gets. That is why the Sunday paper is loaded with grocery store ads. But most of the rest of our economy is controlled by big corporations and big businesses who are big enough to shield themselves from market forces that small to medium-sized businesses have to contend with day after day. Big Oil falls into that category. And why do world events cause crude oil prices to fluctuate? Because they affect supply. I sell a commodity that the whole world needs, food. I'm not going to make much if anything this year even though I had a good crop, I guess I'll blame myself. You really need to take an economics class or stop reading Mother Jones or the Daily Kos. Quote
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