What do ya'll think, yesterday was 1.87 a gallon premium for Chevron and today its 1.89 a gallon, how much is it gunna go up by??? damn Im in the middle of an engine build lol

 

here in nj its been right around 1.42, a week or so ago it went up 3 cents but then it went back down.

edit: I was watching cnn this morning and saw something rather intresting. Idk what the **** made gas go down in the first place but i would surmise that it would have been the saudies leaving opec.

I don't how much many of you know too much about this bs but I'm bored so i'll drop what i know.

Towards the end of WWII, right before fdr kicked it, he took a trip to Saudi Arabia and struck a deal with the royal family which was that in exchange for open access to their oil we would provide military protection(only for the royal family). Armico(or something like that) is the only company refining oil out of Saudi Arabia which has the largest supply of oil on earth.

OPEC is the Orginization of Petrolum Exporting Countries which regulates the exportation and refiniging of oil to curve prices and such. The saudies have been members since its inception up until this october.

My guess is that the Saudies said **** you to opec and opened the flood gate on the market producting as much as they wanted to and in turn lowering the price of crude. Or at lest thats why I think the price of gas has gone down recently.

Anyway today on CNN opec announced that it was going to start limiting its production in order to help bring up the price of crude which has dropped over 100 dollars a barrel in the past 8 weeks which would explain why we might see gas going back up. There may be other reasons why gas has gone down, for example gas is traded only in us dollars and the value of the dollar has been falling so that may have something to do with it. I really dont know.

 

The fact that they can say "we'll limit production and pretty much force the world to make us richer" doesn't strike the most harmonious of chords in me. Can't wait for the day that America breaks free of foreign oil and we can watch the greedy bastardsdrown in the stuff.

 

it may seem like a rip but its the basis of capitalism and that's a core American value... we seem to only like it when we're the pitcher lol. The day where we don't need forgin oil will never happen. Most of our oil, in previous years, roughly 90% has been from mexico, canada, and saudi arabia. The other 10% is from opect j-bags like venezuela. God honest truth is that the oil they "jack up" has a cheaper final cost than the oil we refine here. But in terms of mass dependancy of oil, specifially for auto's, thats not too far off. I would guess by 2025-ish more than half of the cars on the road will use a fuel cell. This past summer honda leased its first fuel cell cars directly to consumers in cali. The thing is a sedan that takes hydrogen from the pump and emits zero emissions... pretty ****ing cool
http://automobiles.honda.com/fcx-clarity/

 

SO they said something about cutting 2 million barrels of oil a day now, so Gas is going to sky rocket I assume ='[

 

well hopefully not, i dont know about armico(or what ever the **** that saudi company is called) but if I recollect correctly they have something like 11 million barrels of oil just chillin incase of another august 22 2005 thing... it was that storm in new orleans. ****ing cant think of the name. But ya, it may go up but hopefully it wont take the **** off as it used to mostly becuase saudi arabia isnt an opec cronie any more. i'd bet we see 2 dollars a gallon or so as a nation average until its ready to go back up again for summer.

 

id be ok with anything UNDER 3 $ lol...............Summer is going to be big for the gas companies, and I dont understand how we are in a recession and they wanna jump the price. wtf is that?

 

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Them just trying to survive. At the end of the 3rd quarter in 08 exxon made 22 bill, which was the highest single gross for a American company with ford being second at 16 bill, the bitch of it is that its projected gross was suppose to be something like 24 bill. Even though they're raking in cash with the cost of refining and what have you they were making more of a profit at a lower gross before. Point is, they want to raise the price because it’s what they have to do to stay in business.

 

in English = Were ****ed!

 

lol yes, think of economic growth as an ocean: when you're floating there the waves bring you up and down. The current is moving you forward but you cant really tell due to the lack of immediate still objects. Ya we're ****ed right now, but this down is necessary for our next up. Greanspan wrote a book, cant remember the name of it, but that's a nutshell of the first chapter lol.