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      07-01-2008, 06:47 PM   #1
MXrider38
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Do I need to call BS?

A friend of mine was just telling me the other day the she had heard about the government admitting to misusing our resources. The alleged story is that they came out and said that they misused used our oil resources and that we actually have more reserves than originally thought. She went on to tell me that they were tryin to pass a bill which would go through this month that would cause the price of gas to go back below 3 bucks a gallon. I would love to know where she got this info because I have neither heard or seen anything on it. So I was wondering if anyone else had heard this, though I call bs on her story.
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      07-01-2008, 06:48 PM   #2
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We do have more reserves; we just do not avail ourselves of it.
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      07-01-2008, 06:50 PM   #3
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I guess I should have been more specific. I was callin bs on the fact there is no way that gas is goin below $3 again.
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      07-01-2008, 06:55 PM   #4
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I think she was talking about the bill the senate denied that would have stopped speculation in the market?
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      07-01-2008, 06:56 PM   #5
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we will NEVER see gas prices even close to $3. If this was even remotely true, it would be all over media by now. Tell your friend to stop believing in conspiracy theories.
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      07-01-2008, 06:57 PM   #6
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Quote:
Originally Posted by solefald View Post
we will NEVER see gas prices even close to $3. If this was even remotely true, it would be all over media by now. Tell your friend to stop believing in conspiracy theories.
Either that or I should have told the bartender to cut her off.
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      07-01-2008, 07:04 PM   #7
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Quote:
Originally Posted by MXrider38 View Post
Either that or I should have told the bartender to cut her off.
What is she drinking?, because I want to binge on that ish.
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      07-01-2008, 07:04 PM   #8
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Quote:
Originally Posted by solefald View Post
we will NEVER see gas prices even close to $3. If this was even remotely true, it would be all over media by now. Tell your friend to stop believing in conspiracy theories.
I hope you are wrong. At $3 per gallon we have 10-15% inflation. At $4-6 per gallon, 30% or more. Food costs alone are skyrocketing as it is.

Companies are cutting back and laying off workers all over.

It will be a very bleak future for the U.S. if gas does not get back under $3 soon. If it never does, say goodbye to your future. Inflation will be rampant, savings not possible, and many unemployed.
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      07-01-2008, 07:11 PM   #9
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Definately hurts my pockets in the automotive industry.
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      07-01-2008, 07:15 PM   #10
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So who exactly control the gas prices? the Gov right?
if so....this shiet aint never going down
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      07-02-2008, 08:05 AM   #11
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So who exactly control the gas prices? the Gov right?
if so....this shiet aint never going down
That would be OPEC (organization of the petroleum exporting countries). Technically they control the oil market and gas prices, but lately they say they've "lost control" of it. Take that as you will, but if you really think about it, they don't make all that much on a gallon of gas. You have to think about the process of digging for crude oil, then refining it, packaging it, shipping it, and then putting it into the stations. Add the gallons up and that's where they make the money, but per gallon of gas, they don't make that much.
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      07-02-2008, 08:12 AM   #12
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Quote:
Originally Posted by Dragonman4 View Post
That would be OPEC (organization of the petroleum exporting countries). Technically they control the oil market and gas prices, but lately they say they've "lost control" of it. Take that as you will, but if you really think about it, they don't make all that much on a gallon of gas. You have to think about the process of digging for crude oil, then refining it, packaging it, shipping it, and then putting it into the stations. Add the gallons up and that's where they make the money, but per gallon of gas, they don't make that much.
OPEC doesn't do any refining. They sell crude oil, by the barrel. The oil companies (Shell, Exxon, etc) do all the refining, storing, shipping....
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      07-02-2008, 08:17 AM   #13
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OPEC doesn't do any refining. They sell crude oil, by the barrel. The oil companies (Shell, Exxon, etc) do all the refining, storing, shipping....
You are correct. Opec sells the crude oil, which in turn the oil companies do the rest. I was talking about the general picture of making money out of selling gasoline. My fault.
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      07-02-2008, 08:22 AM   #14
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You are correct. Opec sells the crude oil, which in turn the oil companies do the rest. I was talking about the general picture of making money out of selling gasoline. My fault.
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      07-02-2008, 09:14 AM   #15
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