"I remember pumpin' gas..."

by **ohio county** Fri Apr 08, 2011 6:25 am

Obama speciously suggests that if we don't like $4.00 a gallon gas we should trade in our SUV. He guarantees that GM or Ford or Chrysler will give us a good deal.

If you take your eight-miles-to-the-gallon SUV in to trade for an Aveo I'll guarantee they'll laugh you out of the showroom. I'll guarantee the deal from Hell. Of course I live in the real world. Obama said in February that his worst fear was "living in a bubble" and not being able to carry on a spontaneous conversation. This is a good example of that.

I'll be looking forward to a trade-in come November, 2012...

by Aaron Fri Apr 08, 2011 8:03 am

Gas has went up 17 straight days. Thing is, there's no reason for it. Supply hasn't decreased and demand hasn't increased. We're not to the shutdown for the changeover and even if we were, that would only account for a slight bump in prices. I know oil companies will take advantage of economic situations but this seems a little more then that to me. Despite looking, I can find little to justify the nearly 40% increase in the price of gas over the past few months.

by ziggy Fri Apr 08, 2011 11:34 am

So the gasoline market is not working correctly?

by Aaron Fri Apr 08, 2011 12:21 pm

ziggy wrote:So the gasoline market is not working correctly?

How can it with all the interference from Washington?

by **Stephanie** Fri Apr 08, 2011 12:31 pm

The monetary policy is exacerbating things.

by Aaron Fri Apr 08, 2011 1:08 pm

The price of crude oil today is not made according to any traditional relation of supply to demand. It’s controlled by an elaborate financial market system as well as by the four major Anglo-American oil companies. As much as 60% of today’s crude oil price is pure speculation driven by large trader banks and hedge funds. It has nothing to do with the convenient myths of Peak Oil. It has to do with control of oil and its price. How?

source

Here's the really interesting part.

All this is well and official. But how today’s oil prices are really determined is done by a process so opaque only a handful of major oil trading banks such as Goldman Sachs or Morgan Stanley have any idea who is buying and who selling oil futures or derivative contracts that set physical oil prices in this strange new world of “paper oil.”

And guess which banks happen to be top donators to our current President.

University of California $1,591,395
Goldman Sachs $994,795
Harvard University $854,747
Microsoft Corp $833,617
Google Inc $803,436
Citigroup Inc $701,290
JPMorgan Chase & Co $695,132
Time Warner $590,084
Sidley Austin LLP $588,598
Stanford University $586,557
National Amusements Inc $551,683
UBS AG $543,219
Wilmerhale Llp $542,618
Skadden, Arps et al $530,839
IBM Corp $528,822
Columbia University $528,302
Morgan Stanley $514,881
General Electric $499,130

Yes, the oil market is working as it was designed to work. That's the problem.

by ziggy Fri Apr 08, 2011 8:08 pm

.......................................................... the best government that money can buy .......................................

by Aaron Fri Apr 08, 2011 9:46 pm

Yet you champion it as the savior to all our problems. Imagine that!!!

by SamCogar Sat Apr 09, 2011 4:35 am

Aaron wrote:And guess which banks happen to be top donators to our current President.

University of California $1,591,395
Goldman Sachs $994,795
Harvard University $854,747
Microsoft Corp $833,617
Google Inc $803,436
Citigroup Inc $701,290
JPMorgan Chase & Co $695,132
Time Warner $590,084
Sidley Austin LLP $588,598
Stanford University $586,557
National Amusements Inc $551,683
UBS AG $543,219
Wilmerhale Llp $542,618
Skadden, Arps et al $530,839
IBM Corp $528,822
Columbia University $528,302
Morgan Stanley $514,881
General Electric $499,130

Yes, the oil market is working as it was designed to work. That's the problem.

Iffen you wanna play, ....... then ya gotta pay. Razz

Universities Receiving the Most Government Research Money

5: University of California, San Diego
The University of California, San Diego, experienced no change between The Chronicle's 2004 and 2010 rankings, placing fifth in the 2010 list with over $511 million in federal R&D funding. With a focus on biotechnology and the biological sciences, this public institution ranks first among UC campuses in federal R&D funding.

.

Federally Financed R&D Expenditures, 2009

11: Stanford U. $ 477,507
19: Harvard U. $ 385,704

by **ohio county** Sat Apr 09, 2011 7:14 am

From Mark Steyn:

America, 2011: A man gets driven in a motorcade to sneer at a man who has to drive himself to work. A guy who has never generated a dime of wealth, never had to make payroll, never worked at any job other than his own tireless self-promotion literally cannot comprehend that out there beyond the far fringes of the motorcade outriders are people who drive a long distance to jobs whose economic viability is greatly diminished when getting there costs twice as much as the buck-eighty-per-gallon it cost back at the dawn of the Hopeychangey Era.

So what? Your fault. Should have gone to Columbia and Harvard and become a community organizer.

by ziggy Sat Apr 09, 2011 11:25 am

So what has the government done to cause the recent steep increase in the price if gasoline?

by **ohio county** Sat Apr 09, 2011 3:59 pm

closed large tracts of land to exploration and voided all permits for deep wells in the Gulf of Mexico.

by ziggy Sat Apr 09, 2011 5:01 pm

Only since late February the government has done all that? That is when the current steep escalation of gas prices began. What has the government done differently the past two months to cause this steep increase in gasoline prices?

by ziggy Sat Apr 09, 2011 5:04 pm

WASHINGTON — Federal regulators on Friday gave Statoil permission to drill a deep-water well - the 10th project approved since such work was halted after last year's Gulf spill.

Under the permit, Statoil will be allowed to drill a new well in 7,813 feet of water in its Logan prospect, 219 miles off the Louisiana shoreline, south of Houma. The Norwegian oil company is slated to drill the well with the Discoverer Americas, a Transocean drillship that is en route back to the Gulf of Mexico from Egyptian waters.

It is the second post-spill deep-water project Statoil has gotten approved. The company also won approval for a well in its Cobra prospect 216 miles south of Texas City on March 25.

http://www.chron.com/disp/story.mpl/business/7514069.html

by Aaron Sat Apr 09, 2011 7:51 pm

ziggy wrote:Only since late February the government has done all that? That is when the current steep escalation of gas prices began. What has the government done differently the past two months to cause this steep increase in gasoline prices?

The things Jimmy talked about have a cumlative effect, particularly when you start bombing an oil producing country as Obama did. But hey, he didn't lie, did he?

Of course it's hard to lie when the President doesn't tell Congress or seek their approval but that's another thread.

To answer your last question, I doubt we'll know all that our government has done over the past two months. That's what happens when you have...

ziggy wrote:.......................................................... the best government that money can buy .......................................

by **SheikBen** Sat Apr 09, 2011 9:01 pm

ohio county wrote:Obama speciously suggests that if we don't like $4.00 a gallon gas we should trade in our SUV. He guarantees that GM or Ford or Chrysler will give us a good deal.

If you take your eight-miles-to-the-gallon SUV in to trade for an Aveo I'll guarantee they'll laugh you out of the showroom. I'll guarantee the deal from Hell. Of course I live in the real world. Obama said in February that his worst fear was "living in a bubble" and not being able to carry on a spontaneous conversation. This is a good example of that.

I'll be looking forward to a trade-in come November, 2012...

Jimmy I drive an Aveo and I am altogether impacted by the cost of gas. What am I supposed to trade it in for, a bicycle?

by **ohio county** Sat Apr 09, 2011 10:51 pm

How long does it take to mobilize/de-mobilize a deepwater oil rig?

by **ohio county** Sat Apr 09, 2011 10:52 pm

Jimmy I drive an Aveo and I am altogether impacted by the cost of gas. What am I supposed to trade it in for, a bicycle?

A Volt, Sheik. What? You didn't know that?

by SamCogar Sun Apr 10, 2011 4:38 am

ziggy wrote:Only since late February the government has done all that? That is when the current steep escalation of gas prices began. What has the government done differently the past two months to cause this steep increase in gasoline prices?

1. still supporting the overthrow of Egypt's government.

2. led the attack in support of those who want to overthrow Libya's government.

3. pissed off Saudi Arabia

4. scared the BEJESUS out of China

5. emboldened the "wolves" at Israel's doorstep.

just to name a few.

by **SheikBen** Mon Apr 11, 2011 7:26 am

ohio county wrote:
Jimmy I drive an Aveo and I am altogether impacted by the cost of gas. What am I supposed to trade it in for, a bicycle?

A Volt, Sheik. What? You didn't know that?

Ah the Volt. I cannot afford to buy the Volt. If I buy it, I cannot afford to get it serviced. If I can afford to get it serviced, I still would not be able to find anyone down this way who could work on it. If I could find someone down this way to work on it, it would still be a crappy Chevy Volt.

by **ohio county** Mon Apr 11, 2011 3:07 pm

I know! It's a no-win situation, right? This is what it will be like when they fail to raise the debt ceiling and the Chinese call in our debt. Our houses are already full of stuff made in other countries and now we have to get a 1099 from anybody with whom we sign a contract. Bet when they hook up all the high speed trains they'll never run on time...

Also, "What? You didn't know that?", was a signature line of Teddy L. Forzman, friend of older Pete on "Pete and Pete". http://pnp.norecess.org/characters.html

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