Shell to artificially raise gas prices

IowaStatePhiPsi · #1 08-11-2004, 11:20 AM

http://releases.usnewswire.com/GetRe...d=114-04062004

SANTA MONICA, Calif., April 6 /U.S. Newswire/ -- The Foundation for Taxpayer and Consumer Rights today released internal Shell documents showing the oil refiner is set to close and demolish its Bakersfield refinery despite the fact the site had the biggest refinery margins, or profits per gallon, of any Shell refinery in the nation as of yesterday.

Shell had claimed it was not economically viable to keep the refinery open and has refused to put it up for sale. Bakersfield supplies 2 percent of the state's gasoline and only 13 refineries feed California's tight gasoline supply (down from 37 in 1983).

edit: I just noticed the date, I dont know why this was on the top of a list of news links.

Kevin · #2 08-11-2004, 11:45 AM

Well it wouldn't really be artificial. I mean, they would actually be reducing the supply by doing that. So demand would factually (not artificially) go up.

I'm not really sure it's ethical. I'm pretty sure it's not illegal though.

madmax · #3 08-11-2004, 02:56 PM

Quote:

Originally posted by ktsnake
Well it wouldn't really be artificial. I mean, they would actually be reducing the supply by doing that. So demand would factually (not artificially) go up.

I'm not really sure it's ethical. I'm pretty sure it's not illegal though.

Supply will be reduced. Demand will be constant.

Kevin · #4 08-11-2004, 02:58 PM

Quote:

Originally posted by madmax
Supply will be reduced. Demand will be constant.

I stand corrected.

But the price will go up.

AlphaSigOU · #5 08-11-2004, 03:32 PM

Well... guess I ain't buying any more Shell gasoline! Unless I have absolutely no choice.

Kevin · #6 08-11-2004, 03:40 PM

Quote:

Originally posted by AlphaSigOU
Well... guess I ain't buying any more Shell gasoline! Unless I have absolutely no choice.

I never do. They're always at least 5 cents higher than everyone else in town. They don't even attempt to compete on price. People think they have better quality I guess.

Tom Earp · #7 08-11-2004, 05:02 PM

Dutch - Shell overstated their production capacity and got tit in ringer!

Screw them, hurt them at the pumps, dont buy from them.

Will have plenty of gas then!

Another outfit I despise is Q T,qick trip! They run the gas prices up and down like the scales of music. Gaurantee their gas, my ass.

Everytime a Nickle dime country decides to have a revolution that produces oil, the gas goes up!

Ask ktsnake how many oil pumps sit idle along I-35.

Sad!

CSUSigEp · #8 08-11-2004, 05:10 PM

Im so getting an electric car....

Kevin · #9 08-11-2004, 05:34 PM

Quote:

Originally posted by Tom Earp

Ask ktsnake how many oil pumps sit idle along I-35.

Sad!

I live and work on one of the largest oil basins in the world.

We also have tons of natural gas.

Is there production? Not really anything major since Jimmy Carter basically ruined the O&G business with his tax increases. My parents owned an oil company and had to sell it back then to Koch. We still get some piddly royalty checks.

Now that prices are up, so are their royalty checks. And there is more exploration in the state which is doing good things to the economy.

The real bottom line is that we as a country and as a world need to go after alternative sources of energy. Some oil companies say that they are serious about this. I don't see how it could be in ther best interests to do anything but delay it though.