one reason we have a shortage of oil is b/c right now they are loading up oil tankers and putting them at anchor and then as the price goes up they will pump it back in the system. I know this from the guys who are piloting the ships (some of my best friends). he says "we load them up drive them 25 miles and let'em sit in the gulf until the price goes up and pump right back in the system." SICK! we are getting screwed America! I told my dad this and he said yea they did that back in the 80's.

I just called the local fox news station to see if they could try to nail someone on this. I am sure they (oil company) will have a BS excuse.

 

Don't they always have an excuse though? Seriously I hate how the general public is falling for this... They've been doing this for awhile now and the patern has been the same for the last eight years since there is no one in the whitehouse that will keep the oil companies in check. Anyone notice that they drive the prices up about $.20/gal make, everyone freak out, then lower them like $.05-$.10/gal and everyone is relieved... Yet no one notices that we're still paying more per gallon

 

Speak for yourself.

Everyone I know has more than noticed. It's easy when it takes better than a C-note to fill the tank.

 

Where do you people come up with this junk?

We are producing more oil then we can currently refine thats why they are using vessels as holding stations. LOL

 

RunninLean , thats just the mechanism for do this [ not building enough refineries to produce ] , a study , or just being alive for a few decades or so , shows what is happening .
The vast majority of what info we get is propaganda , the precept here is , if you can not hide the truth , mix with enough lies that it can not be figured out .
Point being , there is some % of bull & truth to most of what we here .

 

The problem is rebuilding the refineries that were destroyed and damaged in the hurricans. Not to mention the 2 major BP plant damaged in explosions. How about doing a study?

 

The fact that our dollar is becoming worthless to foreign countries since they, especially the middle east are buying up and baling out our banking companies left and right due to this country plummeting down hill like a runaway rollacoaster and it is affecting the price of crude per barrell a bunch.

 

The problem is we need to build more refineries. The numbers are the same since the 80's. We have three within 50 miles of us and they supposedly produce the fuel for the entire NW.

Nuclear energy is the answer to increase the supply of oil, thus reducing the cost and polution of what we already have. Nuclear energy = lower electricity costs which could result in lower demand for natural gas and propane, heating oil etc. This will never happen as long as there is oil and oil companies willing to supply the demand.

We have a ravenous appetite for petroleum. Unfortunately, we don't own the soil its underneath so we fortify a foreign Government's coffers and hope they spend the money responsibly.

Kurt

 

Oil companies don't set the price for crude.
They sell it at the price that's set by the market...it goes to the highest bidder.

 

There is a piece of the pie missing here. If Exxon extracts the oil and then ships it to an Exxon refinery then to an Exxon gas stations who did they sell it to? Yea I know each group charged the other group along the way (with mark ups) so they are able to gross a lot of money.

Now when one company sells to another company there is a need for a price but again the MARKET does not always set the price, as it is set by speculators that are willing to pay x amount for oil next month in hopes of selling it for more once they get it. You hope that a few of these speculators will get burned bad enough that they bid the price down instead of up but it does not look like we have hit that point yet.

 

Exactly why we need more capacity to refine any problem in the system and we are in trouble.

 

There are 2 refineries in OR that supposedly produce fuel only to be used in OR. Despite this I see fuel trucks from CA supplying stations here all the time. It's supposed to be illegal, but it seems like the local independent stations around here can do as they please. Anyway, back to the post topic; buy oil company stocks if you can; if you can't beat 'em, join 'em.

Nick

 

Amen.... can't agree more.

 

There is actually plenty of "cheap" oil available, it's just not light sweet crude, it's heavy sour some with very high sulfur content. The problem is next to non of the refineries can process this stuff. The world not only needs more refineries but ones capable of refining the heavy sour crude that is readily available at low prices.

 

ill agree with the whole refinery bit. im from beaumont area, and since i was a little kid there has been next to no new refineries built until now. there are 1 or 2 bio diesel refineries being built now in the area, and they are expanding tremendously in the port arthur area as well. its amazing when you drive by those old refineries and they look like they'll explode at any minute and being so close to the coast, the corosion is extremely evident at least to the eyesight. we need to build a ton more refineries, and drill a ton more in the gulf, off floida, alaska, etc., but the hippies wich are a small percentage dont want us to do that imho. iirc, we get most of our oil from our neighbors from the north and from mexico and or venezuala?, not the arabs