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Old 08-31-2005, 03:40 PM   #15
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I read that the oil from the Strategic Petroleum Reserve will be "loaned" to the oil companies, who will repay the loan later in barrels of oil.

The degraded refinery capacity is a problem, but also Gulf crude oil production has stopped (supplies 10% of US oil) Some gulf ports that receive oil tankers are shut down.

I understand that supply and demand of oil is a close balance - small changes in either amplify price changes. Now would be a good time to conserve, saves money now and will help bring the prices back in-line.
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Old 08-31-2005, 04:06 PM   #16
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Why don't our state governments lower some of the gas taxes to aid in price relief? They, too benefit from higher gas prices, as the $tax per gallon is automatically higher as well. This makes me crazy.
Not in Missouri. We have a fixed tax per gallon. Sales tax does not come into the equation.

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Old 08-31-2005, 04:56 PM   #17
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Anyone in Atlanta?

At this moment I'm watching Fox News ... gas is priced over $6.00 per gallon at a BP station in Atlanta ... $5.57 at another!
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Old 08-31-2005, 04:58 PM   #18
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I heard on the radio this morning that it takes 30 days for the gas to reach the pumps from the time that the crude is pumped out of the ground.
They also stated that the crude prices being reported via the media and the markets are for crude that is to be delivered 30 days from the date of that price. I am not familiar with crude futures.
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Old 08-31-2005, 05:15 PM   #19
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Here in central Illinois gas has increased $.66 since Monday. First jump on Tuesday from $2.53 to $2.78; then today to $3.19. Next week I'll need a loan to fill up the F-350.
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Old 08-31-2005, 05:15 PM   #20
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Quote:
Originally Posted by Porky Pig
Anyone in Atlanta?

At this moment I'm watching Fox News ... gas is priced over $6.00 per gallon at a BP station in Atlanta ... $5.57 at another!
I remember on 9/11 we had a run up since everyone decided to fill up for fear that the Arabs were going to turn off the oil. A few stations went up to $5.00 a gallon. Our state attorney general was informed and those stations rolled back within hours. I think I remember they talked about some type of anti gouging law and that unless the dealership could provide evidence of his wholesale price going up, he wasn't going to be able to charge that kind of price. I pretty sure those stations had to make refunds to customers who had receipts.

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Old 08-31-2005, 05:24 PM   #21
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I just filled up the wife's car at the closest gas station to our house. $2.799, same as yesterdays price. Highest I saw was $2.999 at the freeway. From what other people are posting it sounds like all the stations are all going to throw away their "2's". I pulled right up to the pump without waiting, but then things started getting a little crowded. One inconsiderate bunch of boobs had a small hatchback with, I kid you not, I counted them, 12 red plastic gas cans from 1 gallon to 6 gallons in size. I commented to another patron, that "It's people like THAT, that cause gas shortages!" Wife chastised me for saying that, say I could have gotten shot. She is probably right.
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Old 08-31-2005, 05:59 PM   #22
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I have to drive 8 hours up to michagan tomorrow to get the trailer and then back on Friday, the gas bill is going to sting for sure....... but on the upside having the trailer at home finally will be a big bonus and ought to take out some of the sting. While there Im getting a fridge and water heater (thinking furnace also) from Palomino. The savings from that will help too. I cant help but believe that this has gotten about as bad as it will.................
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Old 08-31-2005, 05:59 PM   #23
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Old 08-31-2005, 06:54 PM   #24
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Quote:
Originally Posted by Porky Pig
Anyone in Atlanta?

At this moment I'm watching Fox News ... gas is priced over $6.00 per gallon at a BP station in Atlanta ... $5.57 at another!
Porky, I’m in Atlanta. In fact, I’ve done a lot of driving around Atlanta today. Here’s the scoop: It’s all a load of crap (not the price increases, the “shortage”). The one reality is that the pipeline (actually, the 2 pipelines) that carry gasoline to the Atlanta region from the Texas/Louisiana refineries are both shut down right now. They have both been down since Monday when Katrina came ashore.



Now for a dose of reality. The Atlanta region has a 10 day reserve of gasoline. That’s the way the system works here (which, of course, means that we are nowhere near running out). This is confirmed by both the Governor and a local radio station that actually took the time to investigate the “facts” with the pipeline operator. The pipeline is indeed down right now. Why? Because Katrina shut down the power grid to several of the pumping stations in the affected regions. The pipeline operator is in the process of putting emergency generators in place to restore the “pumping capacity” of the two paths to Atlanta. Now for the “Hype”.



This morning a rumor (internet/word of mouth) got started around Atlanta that gas would soon be in short or non-existent supply (because of the above scenario that got twisted up by the ignorant media and the ignorant populace). Result? Unscrupulace operators of gas stations/convenience stores immediately ran the prices up in preparation for higher prices from their suppliers in the near future (yeah, right). The company I work for even fell into this nonsensical line of logic; we have to fill our vehicle gas tanks every morning until the “crises” passes.



There are, indeed, many service stations that have raised their prices to ridiculous levels because of all of this junk. The Governor, about an hour ago signed an executive order concerning price gouging at the pump. I don’t pretend to understand the inner workings of government here in “Jawja”, but apparently the Governor has to “invoke” the gouging rule in times of crises. We can only hope that he actually puts some of these sons-of-bitches in jail. But, that probably won’t happen as most of them are not citizens of the United States of America. Before you decide to flame me on this statement, you need to come to Atlanta and see for yourself.



One thing for everybody. No matter where you live, the hype will rule your “energy” lives for a while. Hell, it has for the last couple of years. Just remember where you spend your money. The legitimate operators here haven’t raised their prices to stupid levels. In Atlanta that means companies like Quick Trip, BJ’s and Kroger. When this alleged “crises” is over, spend your money in the place that seems most reasonable right now.



JIM













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Old 08-31-2005, 07:27 PM   #25
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You heard it here....cheap stuff now at 3.17/gallon. All camping trips are now offically off. All non-essential driving is no longer being done. Towing a 350 mile trip would now cost at least $117 and change one way.

Combining trips, for example, on the way home will stop at the grocery store, etc rather than make a special trip.

At these levels it's just insane and I can't believe I was so bent when I saw gas at $1.50 gallon.
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Old 08-31-2005, 07:53 PM   #26
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Quote:
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We also need to reach out to the poor in our own home towns who will be most affected by this terribly sudden and high increase in the gas price....Typically they drive the most inefficient cars ....
That would be all that tow.

I, too, live in metro-Atlanta and about 10:30 AM this morning one of the local stations near me was $2.699 at 3:15 PM the same station was $2.999. Other stations on the main drag in town were $3.199 this afternoon and there were people lined up in the street to get to them! At the same time the news reporter on the local talk-only radio station said that the reports of gas shortages by the weekend were untrue.

A few months ago a reporter said that there was a several month lag between the increase and decreases of crude on the commodities market and that crude actually getting through the refineries and to the pumps and that gas stations would respond to those increases immediately in anticipation of increases in their cost, but the stations would wait until their cost dropped to pass those savings onto the consumer. I think that is probably the only time you get to have your cake and eat it too.
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Old 08-31-2005, 09:21 PM   #27
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Our commercial fuel dealer has not raised prices like most others. The price you see on the pump is not the price I see on my statement at the end of the month, it is lower about $ 0.10 a gallon from what others pay at the same pump that are not commercial. When I have a large credit on the commercial account I also get a small discount for the prepay. This whole fuel thing is the 1970's played again using a differnt tune.
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Old 08-31-2005, 10:25 PM   #28
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Gas in the Twin Cities and surrounding communities ranges from $2.669 to $3.199 at the moment.

When the next round of Qtrly Performance reports come out to the stock analysts, I hope that I don't hear "another record Qtr" for oil company XYZ.

It would be such a shame to see tens of thousands of people suffering from Katrina, to see so many of the rest of us in the country sending our financial support, and then to see the oil companies receive a windfall at all of our expense.
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