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post #136 of 168 (permalink) Old 11-01-2012, 09:01 PM Thread Starter
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Originally Posted by JRinKY View Post
No mistake. Gas prices typically do that around here, they will make a big jump and then gradually drop. This morning that same station was at $3.449.

Stations do not set prices based on what the gasoline in their tanks cost them when they bought it, they base it on what they would have to pay to replace it. They watch the wholesale price and adjust prices based on what the current replacement cost would be. The wholesale price is based on what speculators in the commodities markets think it is worth, which is why even the threat of a problem is enough to drive prices up.
Doesn't matter who boofs us, JR, the fact is we're getting boofed at the pump so some %#*&@$#! schmeckel can line his already gold lined pockets. It would appear that old Timothy was right, "The love of money is the root of all evil"
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post #137 of 168 (permalink) Old 11-02-2012, 08:29 AM
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That "love of money" is the basis for our entire economic system. The idea is that you go out and obtain something, and then sell it for (you hope) more than you have invested in it. Whether you buy it, find it, invent it, improve it, or build it, the goal is the same. Typically you will sell what you have for as much as you can get, and you hope that what you have is something that a lot of people want.

Opportunities arise when what is available is in short supply, or is considered to be too expensive. That is when enterprising people go out and find additional sources of the same thing or devise alternatives to it.

In the "for what its worth" category:

Corrected to 2012 dollars, the average gasoline cost per gallon in 1918 was $3.75. It trended generally down (except for WW2) until 1973, when it was $2.00. There was a spike in 1981 to $3.37, then a low of $1.50 in 1998. Last month's peak average was $3.78 for regular, and $4.08 for premium.

The US fleet average for fuel economy was about 13 MPG in 1973, and is about 28 MPG now.

Curiously, the result is that it typically costs just about the same amount to drive to work now that it did in 1973.

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Last edited by JohnWR; 11-02-2012 at 08:52 AM.
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post #138 of 168 (permalink) Old 11-02-2012, 11:37 AM Thread Starter
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That "love of money" is the basis for our entire economic system. The idea is that you go out and obtain something, and then sell it for (you hope) more than you have invested in it. Whether you buy it, find it, invent it, improve it, or build it, the goal is the same. Typically you will sell what you have for as much as you can get, and you hope that what you have is something that a lot of people want.

Opportunities arise when what is available is in short supply, or is considered to be too expensive. That is when enterprising people go out and find additional sources of the same thing or devise alternatives to it.

In the "for what its worth" category:

Corrected to 2012 dollars, the average gasoline cost per gallon in 1918 was $3.75. It trended generally down (except for WW2) until 1973, when it was $2.00. There was a spike in 1981 to $3.37, then a low of $1.50 in 1998. Last month's peak average was $3.78 for regular, and $4.08 for premium.

The US fleet average for fuel economy was about 13 MPG in 1973, and is about 28 MPG now.

Curiously, the result is that it typically costs just about the same amount to drive to work now that it did in 1973.
Philosophically, there's a difference between the acquisition of wealth to take care of oneís needs and the love of money. I have a nice job and earn a decent salary, I donít work for the acquisition though, it is merely a means for me to feed my family, put a roof over their heads, pay my mortgage and live a comfortable life. I donít cheat people in my business, I donít eek up prices just to pad my wealth a little more, I treat them as I would want to be treated; which is a reasonable paradigm by which to live. The ďlove of moneyĒ or perhaps the term obsession is better suited, is different. In this scenario, the drive isnít to take care of oneís essential needs; but rather itís to accumulate as much wealth as one can regardless of the cost, whether personal or professional. Thats whatís driving the price of gasoline. Just like John D said, just one more dollar, one more dollarÖ but the funny thing is, or perhaps tragic, is that one single dollar could be a dollar off someoneís dinner table; therein lies my objection.

Concerning your thoughts on the price of gas then and now, itís not an apples to apples comparison. You canít simply apply an escalation factor and determine or justify its reasonableness. The method and cost of extraction and the processing of crude in the early 1900ís versus today are vastly different.

We could go on and on, you attempting to justify greed and me condemning it. The fact is no matter how it's presented, boofing is boofing is boofing; the only different is the size of the phallic used in the process.
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post #139 of 168 (permalink) Old 11-02-2012, 01:51 PM
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Sky_Pilot : ....... Concerning your thoughts on the price of gas then and now, itís not an apples to apples comparison. You canít simply apply an escalation factor and determine or justify its reasonableness. The method and cost of extraction and the processing of crude in the early 1900ís versus today are vastly different. ........
Indeed it is not an apples-to-apples comparison. The lead additive used then has been banned, and more expensive compounds are now needed to replace it. The sweet crude then available in abundance has been supplanted by a larger proportion of harder to refine sour crude. More stringent pollution controls have raised the cost of refinery operation, and have mandated reformulated gasoline blends that cost more to produce. And taxes on motor fuels have gone up. So yes, things are vastly different now.

You seem convinced that greed is the only driver of higher gasoline prices, but I am not. I think that there is a lot more going on than you seem to want to acknowledge. What I am doing is not trying to justify greed, since I think that is a relatively small part of the equation.

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post #140 of 168 (permalink) Old 11-15-2012, 03:49 PM
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Filled up The Awesome Powar (2003 SRT-4) with Union 76 Unleaded Premium (91).
Only $3.99 per gallon, happy days are here again!

It's all about the dogs!
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post #141 of 168 (permalink) Old 11-15-2012, 04:25 PM Thread Starter
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Filled up The Awesome Powar (2003 SRT-4) with Union 76 Unleaded Premium (91).
Only $3.99 per gallon, happy days are here again!
Happy days indeed. 20% increase in 24 months. I wish my pay went up 10% per year.



And all us peasants rejoiced. Each increase is followed by a slight decrease to make us all bellow a sigh of relief, but the net result is that the price of gas has been steadily going up and will continue.

On edit: I ran a graph for the past 4 years. The price was $1.67 then and we're averaging $3.82 today for meager 129% increase in the price of a gallon of gas. I'm sure it's not greed.

Last edited by Sky_Pilot; 11-15-2012 at 04:38 PM.
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post #142 of 168 (permalink) Old 11-15-2012, 04:27 PM
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post #143 of 168 (permalink) Old 11-15-2012, 04:34 PM
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Annual gas prices 1919-2011. Cost in 1919 U.S. Dollars.


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post #144 of 168 (permalink) Old 11-15-2012, 09:10 PM
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Looks like it really went up when W was prez.

It's all about the dogs!
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post #145 of 168 (permalink) Old 11-16-2012, 01:08 AM
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How soon we forget.

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Looks like it really went up when W was prez.
May have had something to do with a little thing that happened on 9/11/01? Like when binLaden and the extremist wing of Islam declared all out war against the United States and the entire modern Western World?
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post #146 of 168 (permalink) Old 11-16-2012, 06:22 AM
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New Jersey Gas Prices - Find Cheap Gas Prices in New Jersey
In north jersey... down to 3.23 a gallon?!

Where I am, down south jersey across from Philly, its 3.43

And... for that low price, we still can't pump our own gas!

(I;ve been brainwashed into thinking 3.43 is a good deal!)

Last edited by Ahnuld; 11-16-2012 at 07:22 AM.
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post #147 of 168 (permalink) Old 11-16-2012, 09:52 AM
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For what it is, and what it does, the price we are paying for gasoline is not unreasonable, since you can't replace it with anything else for anywhere near its cost.

If you want to talk about greed, talk about the $30+ million that big oil spent last year buying our government, and the $1+ billion in tax breaks that it got in return.

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post #148 of 168 (permalink) Old 11-16-2012, 01:51 PM Thread Starter
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Oil rig explodes in Gulf of Mexico; 2 missing, others hospitalized

According to the article, it was reported that "The platform was not actively producing oil and a sheen spotted in the water was probably from an estimated 28 gallons of oil that could have spilled when a pipe ruptured."

Any takers that this will not cause the price of gas to go up? JR?

Oil rig explodes in Gulf of Mexico; 2 missing, others hospitalized - U.S. News

Again, I'm a glass half empty guy. Would I put it beyond refineries to acts of sabotage in order to raise prices? Hmm, what does power and greed produce and does the end justify the means. Of course it does in today's society.

I suppose we'll just have to see how this one plays out.
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post #149 of 168 (permalink) Old 11-16-2012, 06:15 PM
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No, I don't think that an industry that is already making record profits, and that is already under intense scrutiny for having an oil spill disaster in the gulf would risk it all by intentionally blowing up an oil rig.

Hanlon's Razor says: "Never attribute to malice that which is adequately explained by stupidity."

If the commodities market sees this as a threat to the oil supply, whether through loss of a potential well or because of the possibility of increased regulation and control, then yes, prices will go up. I don't think that will happen because of this, however.

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post #150 of 168 (permalink) Old 11-18-2012, 06:42 PM
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May have had something to do with a little thing that happened on 9/11/01? Like when binLaden and the extremist wing of Islam declared all out war against the United States and the entire modern Western World?
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Looks like it really went up when W was prez.
I tend to agree with SkyVue2 here. Remember, whether or not we choose to fight back, they still hate and want to kill us. The whole lets blame Bush diatribe gets a little old...

Supply is down, demand is up, and inflation is a son of a *&@#!.

In the end, we (Americans) should consider ourselves fortunate that we don't live in Europe and aren't paying the equivalent of nearly $10/gal.

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