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Pump Price Spike Feared »
Posted by: STONERS 2 years, 6 months agoIn its weekly inventory report, the Energy Department's Energy Information Administration said gasoline stockpiles were unchanged last week and refinery utilization fell. Analysts had expected solid increases in both measures. As a result, some analysts think prices at the pump are about to stop falling.
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Comments: 81
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STONERS
June 14, 2007, 12:46 p.m.I knew it was just a matter of time before they came up with something else to jack them back up...
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david_nwpa
June 14, 2007, 1:41 p.m.Not only will they stop falling, it is only a matter of time before we see $4 or $5 gallons of gasoline. If there were a time to find cheaper, more reliable fuel sources, this would be it.
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BronxBomber
June 14, 2007, 2:32 p.m.I hope this crises is just temporary, and that gas prices will eventually settle down some. To me this is almost a recurrence every darn summer. At least it seems so to me.
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HateKoolAid
June 14, 2007, 4:40 p.m.The oil companies keep telling us that it's simple economics, it's just simply supply and demand. What they conveniently forget to mention is how they control the supply part of the equation. Populist is right, I think they are gradually conditioning us like lab rats for the five dollar a gallon days.
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NelsonR
June 14, 2007, 6:49 p.m.The Bush family has always profited by the Oil industry. What does everyone expect, lower prices under his leadership? It's how America operates. Watch Cheney's pal, Libby be pardoned. What do you really expect and what part of this equation can you change, Nothing. It's all preordained, accept it or move. That was anger speaking since if you move you would probably go from the frying pan into the fire. Elite and money rule the world and you are just a fly speck on the inner workings of insider corruption.
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quackpot
June 14, 2007, 8:35 p.m.Refinery utilization fell - and which small handful of companies control all of the refineries?
Historical note:
John D. Rockefeller, a merchant, bought his first refinery in 1862, realizing that refineries were the key to the oil industry. He set up Standard Oil company in 1870. Standard Oil then either bought the competition or forced them out of buisness. Not much has changed.
Now:
Of course the oil companies that control the refineries do not collaborate - it is just a coincidence that they act as one.
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KYRed
June 14, 2007, 8:56 p.m.Hey, if we have a Democrat for president, how will he/she control the price of gasoline?
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justgotmarried
June 14, 2007, 9:57 p.m.Give it time, they will say that a splinter in one of the executives foot caused him to miss the meeting to lower prices. In which case the prices will go up because the executive in question missed the meeting. So the entire National Guard had to be put on alert to find him. Instead of an amber alert, it will be the black gold alert.
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Radiofreeeuropa
June 14, 2007, 11:26 p.m.Oh yea,
Anti Trust laws should be applying here.If they are not due to loopholes, rewrite them. (And not in Exxonmobil's front office.)
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lather1
June 15, 2007, 3:56 a.m.Peak oil is here and the price will never fall eventually we will have to accept the fact that fossil fuels are on the way out within 30 years. world use of fossil fuels is 85 million barrels a day we have 1.2 trillion barrels of which 325 million are suspicious from opec also alberta oilsands produces only 3 million barrels day not enough to support north americas 25 million day habit we also rely on natural gas to upgrade and extract the oilsands. natural gas is peaked also so we can blame ourselfs for ignoring geology.. whichever it does not matter because the last 15 years of 30 oil will become more scarce.
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lather1
June 15, 2007, 4 a.m.hydrogen seems good but it needs a catlyist which is pallidium which is as rare as platinum and russia controls the worlds pallidium also it comes down to storage issues plants cars it will take years to overhaul our transportaion systems also it takes twice as much enrgy to make hydrogen.
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nostalgia
June 15, 2007, 7:33 a.m.Listen to the Senate debate on the Energy bill - going on right now.
I listened yesterday and was appalled - no new drilling, no new refineries.
More ethanol - how high do they want food, milk etc to go??
More money to explore geothermal
CAFE standards - 35 mpg by 2020 (not certain of that date)
Amendment on clean coal technology and nuclear failed
Prohibit coastal states from deciding whether to allow drilling off of their coasts - right now it is banned except for certain locations in the Gulf
Long term goals are great BUT they need a commitment from Congress to follow through
We also need a short term strategy to have an impact prices and that means more drilling. We are too dependent on unstable foreign sources.
The current Energy bill debate is going to do NOTHING to increase supplies and bring down prices
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FirePro911
June 15, 2007, 8:29 a.m.Wow, they just keep coming with excuse after excuse on why gas prices should rise.
How many people here believe that the ONLY reason gas prices rise is GREED?
Because bottom line folks, it's nothing more than greed that drives up high gas pricing. Just ask the CEO's that retire with millions of our dollars.
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winstonsmithredux
June 15, 2007, 9:26 a.m.The pump price of gasoline is affected by many things, chief among them, greed and manipulation. Also high on the list are the commodities traders and hedge funds. The whole mess is so labyrinthine that to untangle it is akin to working on the Gordian Knot while forgetting to live one's life.
The solution, of course, is alternative energy. Once effected to a degree sufficient to cause pain to Big Oil, however, we will see Big Oil Welfare to a degree not dreamed of by even Big Coal, Big Pharma or Big Insurance. This welfare will require substantial sacrifices of every citizen, but the poorest will bear the brunt of the negative results on their abilities to care for their families. Much like, you know, sales taxes.
If you want to hurt Big OIl, ride a bike, walk or stay home.
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Xaos
June 15, 2007, 9:58 a.m.Gee aren't we about two weeks away from a major U.S. holiday, time for a price spike. They have been doing this for the past couple of years. It is almost a certainty that within 2 to 3 weeks of a major U.S. holiday oil and gasoline prices spike. Don't believe me, look at the records of the Futures market over the past several years. The truth is there. And this reduction in refinery output, what more can I say but it is criminal. If Congress does not see this as a reason to investigate they should all be thrown out of office.
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joeblowe
June 15, 2007, 12:18 p.m.Oh damn - I saw a BLACK bird flying West this morning. You know what THAT means: another $ .25 added on at the pump. DAMN my eyes! Why couldn't I have been looking the other way?
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SwampFox1
June 28, 2007, 9:23 a.m.The oil industry doesn't even let our beloved prez in on their little price setting!!! And sadly, not one Republican has bothered asking the oil interests to explain how their pricing allows them to increase the prices before anything actually happens to the flow of crude.
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