On What Planet Are Most Gas Prices Below $3/gal? Not In U. S. - Is Someone Lying About Prices?

[hadit]

Let's face reality here, people. Low gas prices represent one or more of several things:

1. Higher supply. We know Obama doesn't have anything to do with that, because he's done nothing to increase America's supply of available petroleum. Quite the opposite, in fact.
2. Lower demand. That means lower economic growth, fewer people driving to work, traveling on vacations, transporting goods, stuff like that. Now, Obama might have something to do with that.

Well no not really. Supply and demand applies to normal things like oranges. Oil's a whole 'nother ball game.

Neither O'bama nor any other POTUS has anything to do with "America's supply of available petroleum", nor with gas prices. Those are a function of the international market-- the pool it all comes from.

That's why this thread really doesn't belong in the Politics forum.

Actually, the American president has a lot to do with the supply of petroleum under American control that is not subject to disruption by ME terrorists. Right now, Iran could close off the Straight of Hormuz and instantly raise oil prices around the world. The more oil we're accessing here at home the less we would have to do without.

I'm afraid you don't get how this system works.

The oil we might drill and/or process here has nothing directly to do with the gasoline supply available. First of all, "we" don't drill or process it -- oil companies do that, and they don't work for "us" (the country); they work for their stockholders. That oil developed in Texas or wherever doesn't end up in a 76 station in Lubbock; it goes (virtually) to that same world pool where Venezuela's and Nigeria's and Saudi Arabia's oil goes ---- to whatever buyer returns the Company the most profit, in order. We're not at the top of that list any more.

That's the whole fallacy that tries to sell the Keystone pipeline -- just because that Canadian crude gets refined in Houston doesn't mean it's staying here -- the reason it would go to Houston for refining (Houston certainly isn't the only place that can refine) is because it can be easily loaded on ships to Asia. Because that's where the money is at the moment. So that's where it goes. Nobody benefits from that except Big Oil.

Unless you want to nationalize the oil companies and create an insular market cut off from the rest of the world, the myth of "what's drilled here stays here" remains a myth used to sell snake oil like Keystone to public approval. Oil companies don't work for a flag; they work for profit.

Actually, I do understand how it works, and quite well. Oil that is extracted and refined within the United States is not vulnerable to disruption by ME tyrants. It's really that simple. The more we rely on ME oil, the more vulnerable we are to even threats of disruption.

 

[kaz]

[That's the whole fallacy that tries to sell the Keystone pipeline -- just because that Canadian crude gets refined in Houston doesn't mean it's staying here -- the reason it would go to Houston for refining (Houston certainly isn't the only place that can refine) is because it can be easily loaded on ships to Asia. Because that's where the money is at the moment. So that's where it goes. Nobody benefits from that except Big Oil.

Actually, I do understand how it works, and quite well. Oil that is extracted and refined within the United States is not vulnerable to disruption by ME tyrants. It's really that simple. The more we rely on ME oil, the more vulnerable we are to even threats of disruption.

Pogo doesn't understand supply and demand and the effect on prices. You're bang on though. Another plus is we aren't funding the whack jobs over there.

 

[edthecynic]

Missouri 2.877 -0.017
Oklahoma 2.950 0.000
South Carolina 2.953 -0.006
Mississippi 2.971 -0.004
Minnesota 2.977 -0.014
Tennessee 2.979 -0.005
Kansas 2.984 -0.004
Arkansas 2.996 -0.007
Alabama 2.999 -0.009

USA and Canada Current Average Gas Prices By City State Province - GasBuddy.com

Too bad I don't live in any of those States...

That doesn't make the OP any less the fool for her thread now does it?

She said "most" prices are above $3. Are you saying you believe over half the population are in the States listed above?

But I pointed out a majority of states have at least one station selling gas for under $3.00. As of last week there were 26 states and gas prices have fallen an average of $.09 since that count last week.

 

[kaz]

But I pointed out a majority of states have at least one station selling gas for under $3.00. As of last week there were 26 states and gas prices have fallen an average of $.09 since that count last week.

Let's go to the video tape.

This is an easy fact for every person to verify....no need for a link.

Most prices are ABOVE $3.00 not BELOW.


Ooops.

So you think that one station in a State below $3 means that most people in that State are paying below $3. Ed, my man, that's stupid even for you.

 

[jon_berzerk]

yankton 2.99 but turned out to be 10% ethanol

You live in Yankton SD?

no but in the area

pass through Yankton often

Cool, I a min Bellevue

the school

 

[Pogo]

[That's the whole fallacy that tries to sell the Keystone pipeline -- just because that Canadian crude gets refined in Houston doesn't mean it's staying here -- the reason it would go to Houston for refining (Houston certainly isn't the only place that can refine) is because it can be easily loaded on ships to Asia. Because that's where the money is at the moment. So that's where it goes. Nobody benefits from that except Big Oil.

Actually, I do understand how it works, and quite well. Oil that is extracted and refined within the United States is not vulnerable to disruption by ME tyrants. It's really that simple. The more we rely on ME oil, the more vulnerable we are to even threats of disruption.

Pogo doesn't understand supply and demand and the effect on prices. You're bang on though. Another plus is we aren't funding the whack jobs over there.

Gas prices aren't set on supply and demand, Junior.

 

[edthecynic]

But I pointed out a majority of states have at least one station selling gas for under $3.00. As of last week there were 26 states and gas prices have fallen an average of $.09 since that count last week.

Let's go to the video tape.

This is an easy fact for every person to verify....no need for a link.

Most prices are ABOVE $3.00 not BELOW.


Ooops.

So you think that one station in a State below $3 means that most people in that State are paying below $3. Ed, my man, that's stupid even for you.

If one gas station can do it in the state, they all can in that state. They may CHOOSE not to, but it is not price or taxes that is stopping them.

 

[Pogo]

Let's face reality here, people. Low gas prices represent one or more of several things:

1. Higher supply. We know Obama doesn't have anything to do with that, because he's done nothing to increase America's supply of available petroleum. Quite the opposite, in fact.
2. Lower demand. That means lower economic growth, fewer people driving to work, traveling on vacations, transporting goods, stuff like that. Now, Obama might have something to do with that.

Well no not really. Supply and demand applies to normal things like oranges. Oil's a whole 'nother ball game.

Neither O'bama nor any other POTUS has anything to do with "America's supply of available petroleum", nor with gas prices. Those are a function of the international market-- the pool it all comes from.

That's why this thread really doesn't belong in the Politics forum.

Actually, the American president has a lot to do with the supply of petroleum under American control that is not subject to disruption by ME terrorists. Right now, Iran could close off the Straight of Hormuz and instantly raise oil prices around the world. The more oil we're accessing here at home the less we would have to do without.

I'm afraid you don't get how this system works.

The oil we might drill and/or process here has nothing directly to do with the gasoline supply available. First of all, "we" don't drill or process it -- oil companies do that, and they don't work for "us" (the country); they work for their stockholders. That oil developed in Texas or wherever doesn't end up in a 76 station in Lubbock; it goes (virtually) to that same world pool where Venezuela's and Nigeria's and Saudi Arabia's oil goes ---- to whatever buyer returns the Company the most profit, in order. We're not at the top of that list any more.

That's the whole fallacy that tries to sell the Keystone pipeline -- just because that Canadian crude gets refined in Houston doesn't mean it's staying here -- the reason it would go to Houston for refining (Houston certainly isn't the only place that can refine) is because it can be easily loaded on ships to Asia. Because that's where the money is at the moment. So that's where it goes. Nobody benefits from that except Big Oil.

Unless you want to nationalize the oil companies and create an insular market cut off from the rest of the world, the myth of "what's drilled here stays here" remains a myth used to sell snake oil like Keystone to public approval. Oil companies don't work for a flag; they work for profit.

Actually, I do understand how it works, and quite well. Oil that is extracted and refined within the United States is not vulnerable to disruption by ME tyrants. It's really that simple. The more we rely on ME oil, the more vulnerable we are to even threats of disruption.

No, not at all. Oil is an international fungible commodity. Its price is driven by what the international market is doing, and the speculation on that market. If its price is going down here (or up, or whatever), then it's doing the same thing in the rest of the world, and it's a function of what that international market is doing. Got nothing to do with how much oil we might put into the pool.

The flow to that pool is largely (not totally but largely) controlled by OPEC, much (not all but much) of which is based in the Middle East. OPEC is a cartel that exists for one reason, and it's the same reason the oil companies exist for, and that is Profit. It's in the interest of both to keep that price both stable and manageably high. I believe I already posted an article explaining how OPEC will react if it deems the price is going too low.

That's why all of this has nothing to do with politics and everything to do with capitalism. And unfortunately for facile explanatory scenaria, capitalism in this particular case is way more complex than simple "supply and demand". I'm not a money guy but even I know that.

 

[Pogo]

But I pointed out a majority of states have at least one station selling gas for under $3.00. As of last week there were 26 states and gas prices have fallen an average of $.09 since that count last week.

Let's go to the video tape.

This is an easy fact for every person to verify....no need for a link.

Most prices are ABOVE $3.00 not BELOW.


Ooops.

So you think that one station in a State below $3 means that most people in that State are paying below $3. Ed, my man, that's stupid even for you.

If one gas station can do it in the state, they all can in that state. They may CHOOSE not to, but it is not price or taxes that is stopping them.

There will indeed be significant variations in a given state based on the local/county taxes in each county. Just as there are variations between different states because of varying state taxes.

You can see it all on this map, which is broken down by county. See those spots where there's suddenly a darker green (cheaper) or bright red (more expensive) set of prices? County taxes is the difference.

 

[kaz]

[That's the whole fallacy that tries to sell the Keystone pipeline -- just because that Canadian crude gets refined in Houston doesn't mean it's staying here -- the reason it would go to Houston for refining (Houston certainly isn't the only place that can refine) is because it can be easily loaded on ships to Asia. Because that's where the money is at the moment. So that's where it goes. Nobody benefits from that except Big Oil.

Actually, I do understand how it works, and quite well. Oil that is extracted and refined within the United States is not vulnerable to disruption by ME tyrants. It's really that simple. The more we rely on ME oil, the more vulnerable we are to even threats of disruption.

Pogo doesn't understand supply and demand and the effect on prices. You're bang on though. Another plus is we aren't funding the whack jobs over there.

Gas prices aren't set on supply and demand, Junior.

You know who likes people like you? The Stock Market. Arrogant pricks who think you know everything, then get taken to the cleaners because of it. And you never, ever learn. You know more than everyone else. And nothing can convince you otherwise.

 

[kaz]

But I pointed out a majority of states have at least one station selling gas for under $3.00. As of last week there were 26 states and gas prices have fallen an average of $.09 since that count last week.

Let's go to the video tape.

This is an easy fact for every person to verify....no need for a link.

Most prices are ABOVE $3.00 not BELOW.


Ooops.

So you think that one station in a State below $3 means that most people in that State are paying below $3. Ed, my man, that's stupid even for you.

If one gas station can do it in the state, they all can in that state. They may CHOOSE not to, but it is not price or taxes that is stopping them.

Explaining economics to Marxists like you and Pogo is like explaining air to a fish.

 

[kaz]

But I pointed out a majority of states have at least one station selling gas for under $3.00. As of last week there were 26 states and gas prices have fallen an average of $.09 since that count last week.

Let's go to the video tape.

This is an easy fact for every person to verify....no need for a link.

Most prices are ABOVE $3.00 not BELOW.


Ooops.

So you think that one station in a State below $3 means that most people in that State are paying below $3. Ed, my man, that's stupid even for you.

If one gas station can do it in the state, they all can in that state. They may CHOOSE not to, but it is not price or taxes that is stopping them.

There will indeed be significant variations in a given state based on the local/county taxes in each county. Just as there are variations between different states because of varying state taxes.

You can see it all on this map, which is broken down by county. See those spots where there's suddenly a darker green (cheaper) or bright red (more expensive) set of prices? County taxes is the difference.

Taxes are certainly a huge factor, probably the largest since gas is a commodity. You don't know what that means, do you, Pogo? But it's not the only thing. But so are things like transportation costs to refineries, the cost of local gas blends and regulations and competition.

 

[Missouri_Mike]

I'm still waiting for one of the left wingers that said producing more of our own fuel was never going to drop the price, Therefore supporting obie's regulations attempting to stop that production to admit they were wrong. We have more oil now than we ever had before and the price is dropping despite obie's attempt to hold that production down. If keystone was under way today we could be very well looking at 2 bucks a gallon. Something a Republican candidate actually said during the last election and the idiot left laughed at.

More oil production equals lower prices at the pump. Can you people actually learn from real market forces at work here or are you going to still insist it has nothing to do with prices?

 

[KissMy]

Oil price is not set by free market supply & demand. No country has unregulated, unsubsidized or untaxed oil. And the same goes for the currency used to produce, buy & sell the oil & gas products. The currency & country that produces & consumes the most oil is the one with the greatest price control. That has always been the USA & it's Dollars. Price is further manipulated by cartels(OPEC), price fixing, co-operations(OECD), military force, etc. The price is the sum of all that plus transaction fees, competitive alternatives, bi-product value, transportation cost, profits & your proximity to the production among various other factors.

Your stupidity is why you always pay double what I pay for energy. Gasoline sells for $0.04 US dollars per gallon in Venezuela & $9.79 US dollars per gallon in Norway. Supply & Demand free market forces are not what is determining the price you pay.

 

[Pogo]

I'm still waiting for one of the left wingers that said producing more of our own fuel was never going to drop the price, Therefore supporting obie's regulations attempting to stop that production to admit they were wrong. We have more oil now than we ever had before and the price is dropping despite obie's attempt to hold that production down. If keystone was under way today we could be very well looking at 2 bucks a gallon. Something a Republican candidate actually said during the last election and the idiot left laughed at.

More oil production equals lower prices at the pump. Can you people actually learn from real market forces at work here or are you going to still insist it has nothing to do with prices?

There are no such "regulations attempting to stop production".

 

[edthecynic]

I'm still waiting for one of the left wingers that said producing more of our own fuel was never going to drop the price, Therefore supporting obie's regulations attempting to stop that production to admit they were wrong. We have more oil now than we ever had before and the price is dropping despite obie's attempt to hold that production down. If keystone was under way today we could be very well looking at 2 bucks a gallon. Something a Republican candidate actually said during the last election and the idiot left laughed at.

More oil production equals lower prices at the pump. Can you people actually learn from real market forces at work here or are you going to still insist it has nothing to do with prices?

We've been producing more oil for 5 years and during those 5 years the price of gas rose and rose as oil was exported more and more, and only now the price has come down slightly. We are the largest oil producer in the world and oil is our number one export. Our gas prices only come down when the world consumes less.

 

[LoneLaugher]

I'm still waiting for one of the left wingers that said producing more of our own fuel was never going to drop the price, Therefore supporting obie's regulations attempting to stop that production to admit they were wrong. We have more oil now than we ever had before and the price is dropping despite obie's attempt to hold that production down. If keystone was under way today we could be very well looking at 2 bucks a gallon. Something a Republican candidate actually said during the last election and the idiot left laughed at.

More oil production equals lower prices at the pump. Can you people actually learn from real market forces at work here or are you going to still insist it has nothing to do with prices?

We've been producing more oil for 5 years and during those 5 years the price of gas rose and rose as oil was exported more and more, and only now the price has come down slightly. We are the largest oil producer in the world and oil is our number one export. Our gas prices only come down when the world consumes less.

Question!

Is the Obama administrations plan to ensure that automobiles get more miles per gallon likely to effect gasoline prices in any way?

 

[bigrebnc1775]

Finally we are down below 3.00 most places are 2.92 but I figured since it's getting close to election time gas would start dropping

 

[LoneLaugher]

Finally we are down below 3.00 most places are 2.92 but I figured since it's getting close to election time gas would start dropping

Please post proof that gas prices have dropped in the weeks prior to election time in previous years. You have that info handy,right? You wouldn't post a comment like that without having that info ready to go, would you?

 

[edthecynic]

I'm still waiting for one of the left wingers that said producing more of our own fuel was never going to drop the price, Therefore supporting obie's regulations attempting to stop that production to admit they were wrong. We have more oil now than we ever had before and the price is dropping despite obie's attempt to hold that production down. If keystone was under way today we could be very well looking at 2 bucks a gallon. Something a Republican candidate actually said during the last election and the idiot left laughed at.

More oil production equals lower prices at the pump. Can you people actually learn from real market forces at work here or are you going to still insist it has nothing to do with prices?

We've been producing more oil for 5 years and during those 5 years the price of gas rose and rose as oil was exported more and more, and only now the price has come down slightly. We are the largest oil producer in the world and oil is our number one export. Our gas prices only come down when the world consumes less.

Question!

Is the Obama administrations plan to ensure that automobiles get more miles per gallon likely to effect gasoline prices in any way?

If supply and demand were the rule, the price of gas would go down. In a monopoly, BIG Oil can raise the price to keep their shareholders happy and profits from falling.