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Formerly bb80sc
Join Date: Aug 2001
Location: Hollywood Beach, CA
Posts: 4,361
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Falling gas prices: Coincidence?
I find it odd that immediately after oil companies released their earnings numbers that the cost of gas has fallen sharply. Is this coincedental, or did they do it on purpose fearing a backlash and possible action from the Government?
Thoughts?
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Cheers -Brad 2015 Cayman GTS 2015 4Runner Limited |
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11-07-2005, 04:56 AM
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canna change law physics
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CA DOE websites shows that the cost and profits in the refinery area peaked and subsided in about a 2 week time period. However, once the price went up, the retailers have been making about $0.30-$0.40 per gallon instead of the "normal" $0.05-$0.15 per gallon. This has been going on for over a month.
http://www.energy.ca.gov/gasoline/margins/index.html
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James The pessimist complains about the wind; the optimist expects it to change; the engineer adjusts the sails.- William Arthur Ward (1921-1994) Red-beard for President, 2020 |
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11-07-2005, 05:07 AM
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Registered
Join Date: Jan 2005
Location: Minneapolis
Posts: 7,482
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I paid $2.049 yesterday. A month ago it was $1.00 more. I call BS!!
Just think if you went to your Porsche dealership a month ago and they told you a 911 was $75000 and today they are $50000. E |
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11-07-2005, 05:21 AM
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The Unsettler
Join Date: Dec 2002
Location: Lantanna TX
Posts: 23,885
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My local Exxon is actually cheaper than the Valero right next to it.
1st time I've EVER seen that.
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"I want my two dollars" "Goodbye and thanks for the fish" "Proud Member and Supporter of the YWL" "Brandon Won" |
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11-07-2005, 05:28 AM
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Dog-faced pony soldier
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I think it's more "coincidence" that the prices are falling conveniently while oil company execs are appearing before Congress. Make no mistake about it - there's nothing whatsoever coincidental about it. These guys will get some tongue-lashing and that's it. Once the hearings are over and no real ramifications of the recent gouging occur, there will be a spike back up. I guarantee it. In fact, I'm so sure of it, I'm buying put options on petroleum.
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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11-07-2005, 05:30 AM
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canna change law physics
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The retailers are Franchises, basically, marketing groups. McDonalds are the same way. Most are independantly owned, or are owned by a local food service corp, not owned by McDonalds.
What you see as the "face" of corporate America (retail gasoline) is actually a small business owner.
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James The pessimist complains about the wind; the optimist expects it to change; the engineer adjusts the sails.- William Arthur Ward (1921-1994) Red-beard for President, 2020 |
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11-07-2005, 05:34 AM
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Registered
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still close to $3/gal in LA
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11-07-2005, 06:35 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Quote:
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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11-07-2005, 06:37 AM
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Dog-faced pony soldier
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Actually a lot of stations are still corporate-owned and the prices for those are set by the companies directly. Even with regards to the independent-owned ones, they simply have to respond to the prices the oil suppliers charge and pass it on to make a modest profit. No question the oil companies were (and argueably still are) gouging. None whatsoever.
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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11-07-2005, 06:43 AM
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Registered
Join Date: Dec 2004
Location: Brooklyn, USA
Posts: 1,908
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Falling prices indeed. Any large hurricanes halting gulf production, refining or transportation lately?
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11-07-2005, 07:36 AM
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Senior Member
Join Date: Feb 2000
Location: Lacey, WA. USA
Posts: 25,310
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Congress recently stepped outside usual procedures to pass an energy bill that relaxed environmental and safety requirements on refineries, to shouts of "Shame!" by Democratic members. Some folks here are still fooled into concluding that these requirements were the reason why oil companies failed to invest in refining infrastructure. Ignoring the plain observation that this decision has led, now REALLY is leading, to massive financial gain.
We whine about taxes while the oil companies take the biggest chunk of our income. I hope the Sleeping Giant awakens during my lifetime.
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Man of Carbon Fiber (stronger than steel) Mocha 1978 911SC. "Coco" |
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11-07-2005, 07:59 AM
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Registered
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Quote:
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11-07-2005, 08:28 AM
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Team California
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The prices are falling in L.A., but slowly and behind the trend of the rest of the U.S. This is one of their biggest markets and they need to squeeze it for everything possible.
Oil companies sell more fuel in Los Angeles county then they do in several states.
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Denis I'll bet that Bolton is wishing that he was a gay MAGA clown pathological liar right about now. 
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11-07-2005, 08:33 AM
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Parrothead member
Join Date: Jul 2003
Location: Monmouth county, NJ USA
Posts: 13,847
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Quote:
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Vinny Red '86 944, 05 Ford Super Duty Dually '02 Ram 3500 Diesel 4x4 Dually, '07Jeep Wrangler '62 Mercury Meteor '90 Harley 1200 XL "Live your Life in such a way that the Westboro Baptist Church will want to picket your funeral." |
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11-07-2005, 08:35 AM
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Registered
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Interesting though, I think the tax on gas amounts to about $.40 per gallon...funny how Congress isn't talking about cutting their gas taxes.
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Rick 1984 911 coupe |
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11-07-2005, 08:38 AM
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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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Simpletons need simple reasons...
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Copyright "Some Observer" |
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11-07-2005, 08:40 AM
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Team California
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And idiots complicate simple things.
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Denis I'll bet that Bolton is wishing that he was a gay MAGA clown pathological liar right about now.
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11-07-2005, 08:48 AM
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Irrationally exuberant
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[Facetious]
The oil companies are as bad as EBay - the way Ebay jacks up the prices on everything. Grrrr. [/Facetious] "But Ebay doesn't set the price of anything, the people who buy stuff on Ebay do." Exactly. Sorry, that wasn't very kind. A kinder gentler response would be: Oil is sold on a market (similar to EBay) and the bidder's set the prices. All the oil company can do (legally) is restrict production - and hope that all the other oil companies do too - so the supply will be smaller and prices will rise. -Chris
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'80 911 Nogaro blue Phoenix! '07 BMW 328i 245K miles! http://members.rennlist.org/messinwith911s/ |
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11-07-2005, 09:05 AM
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Team California
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Quote:
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Denis I'll bet that Bolton is wishing that he was a gay MAGA clown pathological liar right about now.
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11-07-2005, 01:47 PM
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Irrationally exuberant
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Archer Daniels Midland (ADM - "Supermarket to the World") attempted something like that with other companies so I suppose its possible that the oil companies have done it. I think it is more likely that it is just the law of supply and demand at work. For example, California has a different gas "formula" than other states so its gas prices are going to be based on the supply of the "CA only" gas coming out of refineries. Using the same formula for several states would increase the pool of available gas sources and probably drop the price some. If you want to blame someone for the high gas prices blame oil man George B. Oh I don't know why, but it make me feel better.  -Chris
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'80 911 Nogaro blue Phoenix! '07 BMW 328i 245K miles! http://members.rennlist.org/messinwith911s/ |
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11-07-2005, 02:11 PM
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1970/1982 Porsche 914-6/911SC 2.7 RS
1979 Porsche 911SC 3.0
Carrera
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04 Jeep
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