gasoline prices

[jon1856]

Originally Posted by luv n tpa

Bush to lift symbolic offshore oil ban
Posted: 10:19 AM ET
WASHINGTON (CNN) — President Bush will announce Monday he is lifting an executive ban on offshore oil drilling, the White House said.The move is largely symbolic because there is also a federal law banning offshore oil drilling. Bush has been pushing Congress to repeal the law passed in 1981.
Bush’s father, President George H.W. Bush, signed the executive order in 1990.

Besides the law, there is also a matter of production equipment.
Or lack of it.
The ships that are used, that are needed for deep sea exploration and drilling do not currently exist. The ones that do are in use and new ones are still in dock yards in China being built.

Than there is the matter of once the oil is found and drilled, where does it go?
Companies can sell it anywhere they wish to, just because it is found off of US does it mean that it will go to US market.

And where ever it does go, what about the refineries?

Are there any more of them being built?

List could go on further but as OP said, this is all rather largely symbolic.

FYI:
1958: Gas was .30
2008: Gas over $4.00
Per AutoWeek as part of their 50th anniversary issue.

[AGDee]

Originally Posted by jon1856

FYI:
1958: Gas was .30
2008: Gas over $4.00
Per AutoWeek.

Cool website: http://www.fiftiesweb.com/pop/prices-1958.htm

1958: Average Income: $4,650.00
2006 (most recent I could find): $48201.00

[texas*princess]

EE-BO, thanks for the explanation

Re: offshore drilling, Bush is a moron to think this is going to solve the problem. It's a temporary solution to a very permanent problem. All environmental reasons aside, it is just delaying the inevitable. This isn't going to decrease our dependance on oil and if he thinks oil is the only thing affecting the economy he's a lot dumber than I thought.

[TexasWSP]

Originally Posted by texas*princess

EE-BO, thanks for the explanation

Re: offshore drilling, Bush is a moron to think this is going to solve the problem. It's a temporary solution to a very permanent problem. All environmental reasons aside, it is just delaying the inevitable. This isn't going to decrease our dependance on oil and if he thinks oil is the only thing affecting the economy he's a lot dumber than I thought.

Nobody is looking at this as something that will be responsible for solving the problem. It's something that can and will help out. We will always have a dependence on oil so long as there are no viable alternatives. Thankfully, those are heavily in the works. In the meantime, being able to produce more domestic oil will alleviate some stress for many and absolutely alleviate some of our dependance on foreign crude. Lucky for us, this "temporary solution" is one that could be effective for many, many decades.

[texas*princess]

Originally Posted by TexasWSP

Nobody is looking at this as something that will be responsible for solving the problem. It's something that can and will help out. We will always have a dependence on oil so long as there are no viable alternatives. Thankfully, those are heavily in the works. In the meantime, being able to produce more domestic oil will alleviate some stress for many and absolutely alleviate some of our dependance on foreign crude. Lucky for us, this "temporary solution" is one that could be effective for many, many decades.

Even if they started "exploring" tomorrow, it would take anywhere from 3-5 YEARS for that to affect prices.

And even if this is something that does provide a solution for a few decades, what about after that? And what about the other ramifications this causes?

Considering you have told us on more than one occasion that you are in the oil industry, that doesn't exactly make you an unbiased person.... how much was it Exxon made in profits last year? 92-Billionish?

[jon1856]

Originally Posted by texas*princess

Even if they started "exploring" tomorrow, it would take anywhere from 3-5 YEARS for that to affect prices.

And even if this is something that does provide a solution for a few decades, what about after that? And what about the other ramifications this causes?

Considering you have told us on more than one occasion that you are in the oil industry, that doesn't exactly make you an unbiased person.... how much was it Exxon made in profits last year? 92-Billionish?

I agree with you Texas*Princess.
And as I posted, add on at least 10-20 years for equipment and tools needed to work on, work with, and distribute product.

[flirt5721]

So this week I drove to California from AZ and I was completely shocked at the prices of gas just crossing the state line. AZ $4.07 CA $4.69. I even think i saw one place in CA with gas was $4.9something

[TexasWSP]

Originally Posted by jon1856

I agree with you Texas*Princess.
And as I posted, add on at least 10-20 years for equipment and tools needed to work on, work with, and distribute product.

What?? Why would it take 10-20 years to find "equipment" needed to drill and produce oil? That doesn't make much sense to me. Maybe I missed your other post but that is somewhat puzzling.

[TexasWSP]

Originally Posted by texas*princess

Even if they started "exploring" tomorrow, it would take anywhere from 3-5 YEARS for that to affect prices.

And even if this is something that does provide a solution for a few decades, what about after that? And what about the other ramifications this causes?

Considering you have told us on more than one occasion that you are in the oil industry, that doesn't exactly make you an unbiased person.... how much was it Exxon made in profits last year? 92-Billionish?

Ehh, not so juch "exploring" as it is producing. We pretty much know where every drop of oil is on the planet. Immediately flooding our market with more product will start affecting things far sooner than you think. We can drill a well and have it producing in two weeks.

Again, I didn't say provide a solution. I said provide assistance to our current problems. We wouldn't start drilling for more oil and completely stop our other areas of concentration.......especially natural gas and wind. I would hope that in 75-100 years we have the means to provide viable forms of energy not associated with petroleum. Oil will be relevant for much longer than just a few decades.

What other ramifications are you speaking of? Environmental issues? What.....?

And you can save the comments about me being in oil and gas and only caring about making money, being biased, etc.. I provide a service to everyone who, day in and day out, enjoys the things that are made possible by oil and gas. I work my ass off everyday to do that. The money is great, but it is secondary to the drive I have to make things better for everyone. I'm sure the rapidly growing number of people that we deliver royalty and ROW checks to worth hundreds of thousands of dollars aren't complaining. Neither are the areas around the country that are booming and rapidly growing because of the positive affects we have on them.

If you don't think producing more crude for our own country is worth it......then you need to get a clue. It wouldn't be as big of an issue as it is if that was the case.

[texas*princess]

gas prices here down to about $3.94/reg

[DeltAlum]

Gas prices locally have not topped $4.00 per gallon at all that I'm aware of, with the exception of the station at Denver International Airport where they were $4.40/gal when I flew in on Tuesday.

I don't suppose that has anything to do with people having to fill up rental cars when they return them, and that I've heard that the rental car companies base their really outrageous ($7.00/gal in St. Louis) fee to refuel a car when it's not returned full on prices at the closest gas station(s). This station is surrounded by the rental car lots.

[AGDee]

Prices have dropped here some. We're looking at $3.79 for cash at the one up the street from me now. That's down from a high of $4.25 over 4th of July weekend.