Pontiac GTO Forum banner

1 - 13 of 13 Posts

·
Registered
Joined
·
150 Posts
Discussion Starter #1
I work as a contractor for the Air Force and I'm hitting a bunch of Air Bases over here in South West Asia. I'm in Kuwait right now and after the exchange rate gas is only 90 cents a gallon!! Man I miss those days!! Were driving a new 3/4 ton Yukon XL - cost us about 25 bucks to fill it up.
The funny thing is there are hardly any gas stations. We have a 45 minute drive from the hotel to where we are now, and I think we pass like 3 gas stations.
I haven't seen any GTO's over here, seen a few corvettes and a few F-body's, but mostly SUV's, BMW's and Mercedes.
 

·
Super Moderator
Joined
·
8,430 Posts
Grey-Goat said:
I work as a contractor for the Air Force and I'm hitting a bunch of Air Bases over here in South West Asia. I'm in Kuwait right now and after the exchange rate gas is only 90 cents a gallon!! Man I miss those days!! Were driving a new 3/4 ton Yukon XL - cost us about 25 bucks to fill it up.
The funny thing is there are hardly any gas stations. We have a 45 minute drive from the hotel to where we are now, and I think we pass like 3 gas stations.
I haven't seen any GTO's over here, seen a few corvettes and a few F-body's, but mostly SUV's, BMW's and Mercedes.
damn rag heads are out to cripple our economy...
 

·
Registered
Joined
·
316 Posts
rag heads my ass, I have been saying for 2 years that it is the gas companys that are driving up the cost of gas just because they are a bunch of greedy fecken chode smokers.
 

·
Super Moderator
Joined
·
8,430 Posts
Braman'sGTO said:
rag heads my ass, I have been saying for 2 years that it is the gas companys that are driving up the cost of gas just because they are a bunch of greedy fecken chode smokers.
Gas companies are a part of it yes, OPEC controls the crude, they decide the prices. OPEC the small group of rag heads that control the output and costs of oil..... Remember the oil shocks in the 80's? OPEC was the root of it. $80.00 a barrel, it caused a recession. That's where we're headed...... ALL the rag heads despise the USA. Their hatred for us is fueling the price increases. If you look at them in photos with Bush, they are all smiling. They are all smiling cause they are methodically crippling our economy. We got Sadam, but they have our financial structure by the balls. Our presence in Iraq is the underlining reason for the prices we are paying. Bush is an oilman and is up to his eyebrows in special interests. His priority is IRAQ, IRAQ, IRAQ, at ALL costs. The rag heads want us out of their neck of the woods, and since our administration has made it clear we ain't leavin, in return the rag heads are going to and are squeezing our economy. Funny how all the news coming out of the G-8 Summit, no news of oil has been mentioned (that I have heard, or read). If we were to pull out of Iraq today the price would drop. That's my story and I'm stickin to it :willy: :willy:
 

·
Registered
Joined
·
3,445 Posts
There is more to it than Iraq. First of all the price is set by the commodities market. Meaning the high prices we are paying right now are determined in Chicago and New York. The Arabs don't want our prices to go too high because we will react by becoming more efficient. That would cause the price of oil to drop, less of it to be bought at a lower price means less BMW's and Mercedes for the Arabs. Most of Saddam's neighbors hated Saddam (Iran, Turkey, Kuwait, and the Saudi's) so your arguement that this is in response to Iraq is not grounded in truth.
The commodities market is reacting to two things enviromental policies that make it difficult to refine large quantities of fuel economically and the lack of refining capacity in the US.
Think of this, it would be cheaper to buy gasoline in Kuwait and ship it to here than it would be to buy oil and ship it here and refine it. The reason they don't is because of our enviromental regulations that require boutique fuels for each area. To finish refining the Kuwait, or any other countries fuel to our standards, would be difficult and expensive.
The Canadians and the US have as much oil as OPEC controls. When you factor in Central America, South America, the north sea and Russia, Opec controls less than 1/4 of the oil available.
Another issue on Iraq now is failure is not an option. If we pull out now, the country will turn from democracy and capitalism, to control by extremist Muslims. This will destroy it's chances at being successful. The people will have no oppurtunity to better themselves. It will turn into a breading ground of terrorists in a country rich with oil. They will be able to buy anything they want with the oil money they have. The people of Iraq by a 75% majority do not want the US to pull out now. They want a chance to better themselves and that oppurtunity more than anything scares the other Arab states. That opportunity will kill terrorism. That opportunity will make all of the middle east, and the rest of the world a safer place to live.
 

·
Super Moderator
Joined
·
8,430 Posts
OPEC dictates the price of the crude oil by their productions. They decide how much to produce. They decide the out put. They will decide when this nightmare will end. It's a small band of Arabs. I had CNN on this morning, even they said what I have stated here. And yes the demand worldwide has escalated. But the output is controlled my OPEC. They want the prices high. And I'm tellin ya a lot of it has to do with the hatred for the USA and it's policies. It's been goin on now for decades. I'm not going to get into a sparring match with anyone. But it's clear what's going on. We're headed for a major recession if this does not end soon.
 

·
Registered
Joined
·
212 Posts
Another part of the problem is increasing demand in China. Thank WalMart, people who shop there and the like for pumping billions of dollars into China. They need energy to produce the cheap stuff we buy here and they are buying cars too.
You can save money by buying that cheap stuff so you can turn around and buy expensive gas. Too bad Walmart et al don't bother to tell you that.
 

·
Registered
Joined
·
2,100 Posts
OPEC tries to maintain cash flow by pricing oil high enough to sell profitably -- but not too high so alternatives look more appealing. Right now, OPEC's saying the price is too high -- and it's speculation by Wall Street money managers that's driving everything up. fergy's observation is dead on here.

Right now, Canada's Athabasca sands have more oil than the Saudis -- and it costs $18 a barrel to produce. The US has more oil than the Saudis -- but it's locked up in Colorado shale reserves -- which is still too expensive to extract.

Another thing is the oil companies, if you have read the article I posted regarding Big Oil's closing of half the refineries in the US to restrict the supply of gasoline -- do so before blaming expensive gas on the Middle East.

When oil was discovered in Arabia in the 30's -- our oil companies basically owned it -- and gave the government a share of the profit through joint ventures with them. Then the Arabs wised up and nationalized everything -- so Big Oil no longer was making money on crude. What to do? Close refineries, create a bottleneck, artificially create high demand, and increase margins on refined gasoline.

Again, if you haven't read the article on Big Oil posted here earlier this week, do so.
 

·
Registered
Joined
·
937 Posts
b_a_betterperson said:
OPEC tries to maintain cash flow by pricing oil high enough to sell profitably -- but not too high so alternatives look more appealing. Right now, OPEC's saying the price is too high -- and it's speculation by Wall Street money managers that's driving everything up. fergy's observation is dead on here.

Right now, Canada's Athabasca sands have more oil than the Saudis -- and it costs $18 a barrel to produce. The US has more oil than the Saudis -- but it's locked up in Colorado shale reserves -- which is still too expensive to extract.

Another thing is the oil companies, if you have read the article I posted regarding Big Oil's closing of half the refineries in the US to restrict the supply of gasoline -- do so before blaming expensive gas on the Middle East.

When oil was discovered in Arabia in the 30's -- our oil companies basically owned it -- and gave the government a share of the profit through joint ventures with them. Then the Arabs wised up and nationalized everything -- so Big Oil no longer was making money on crude. What to do? Close refineries, create a bottleneck, artificially create high demand, and increase margins on refined gasoline.

Again, if you haven't read the article on Big Oil posted here earlier this week, do so.
:agree The ARABS could dump more oil on us but it wouldnt help us at the pump. The crooked oil companies are artificially inflating the price of gas by reducing the amount of gasoline they can make. Look at their record profit margins, and I am talking 300%. If they are just keeping gasoline prices in step with the rising cost of crude how are they posting RECORD profits. Its all BS and the average American is still too comfortable paying <$3 a gallon for gas to do anything about it. If the FTC is truly looking out for the American (which I'll bet its not), they wont allow the God Damned red commie Chinese to buy one of the largest fuel companies in the world right out from under us. Thats what everyone should be worried about.
 

·
Registered
Joined
·
3,445 Posts
JMVorbeck said:
:agree The ARABS could dump more oil on us but it wouldnt help us at the pump. The crooked oil companies are artificially inflating the price of gas by reducing the amount of gasoline they can make. Look at their record profit margins, and I am talking 300%. If they are just keeping gasoline prices in step with the rising cost of crude how are they posting RECORD profits. Its all BS and the average American is still too comfortable paying <$3 a gallon for gas to do anything about it. If the FTC is truly looking out for the American (which I'll bet its not), they wont allow the God Damned red commie Chinese to buy one of the largest fuel companies in the world right out from under us. Thats what everyone should be worried about.
I'm praying that the FTC steps in here, and that's a first for me. Not the praying part, but actually wanting the government to regulate something.
 

·
Registered
Joined
·
2,100 Posts
Unfortunately, the FTC abandoned an investigation into refinery closings back in the 80's -- and with a member of a Texas oil family in the White House -- fat chance of anything happening. And that's not a political statement -- just a statement of fact.
 
1 - 13 of 13 Posts
Top