Are you annoyed with the high gas prices?

[sevenrd]

Originally Posted by smoknfastlegend

If the information were more recent, i would post that, but what im trying to get at is people always say that America uses the most oil, but if you were to compare sizes of the countries, it puts the oil consumption in perspective compared to the rest of the world. According to the same website, that has per capita info based off 2004-05 info says the US is actually 15th in per capita use of oil. Link: NationMaster - Oil > Consumption (per capita) (most recent) by country

The numbers i mentioned earlier is so many can see that the US's consumption isnt as outrageous as they would like us to believe. Im sure if you were to compare the consumption of individual states compared to countries in europe, they would be fairly similar. Instead they would rather cause shock and not take the US's size into consideration.

I don't understand your argument...

Russia is about 6,500,000 sq. miles, contains about 2.1 % of the world population and uses about 2.5 million barrels/day.

China is about 3,600,000 sq. miles, contains about 19% of the world population and uses about 6.5 million barrels/day.

The U.S. is about 3,500,000 sq. miles, contains about 4.5 % of the world population and uses 20+ million barrels/day.

Sources
List of countries by population - Wikipedia, the free encyclopedia

NationMaster - Oil > Consumption (most recent) by country

List of - Biggest Cities in the World, Highest Mountains, Deepest Spot in the Ocean, Longest Rivers - Worldatlas.com

[EdLancer]

Originally Posted by sevenrd

I don't understand your argument...

Russia is about 6,500,000 sq. miles, contains about 2.1 % of the world population and uses about 2.5 million barrels/day.

China is about 3,600,000 sq. miles, contains about 19% of the world population and uses about 6.5 million barrels/day.

The U.S. is about 3,500,000 sq. miles, contains about 4.5 % of the world population and uses 20+ million barrels/day.

Sources
List of countries by population - Wikipedia, the free encyclopedia

NationMaster - Oil > Consumption (most recent) by country

List of - Biggest Cities in the World, Highest Mountains, Deepest Spot in the Ocean, Longest Rivers - Worldatlas.com

That looks about right, the US and Canada pollutes the most per capita !

[kpounds]

This is a great article about Oil Speculation and its effect on prices. It was written when Oil was at $67 a barrel. He offers a solution which is easily within Congress or the SEC's (Securities and Exchange Commission) reach.

The Danger of Speculation by Mike Norman

[03SilverDak]

Originally Posted by Jace

You guys have it easy, here in england we are getting raped for fuel !!


Diesel $2.38 per litre (4.5ltre=gallon $10.75)


Leaded $2.21per litre (4.5ltre=gallon $9.94)



Based on a £ x $ exchange rate of 1.99

I might be wrong but if the british pound is worth almost double to the us dollar. then when we convert our prices to the britsh pound that would make our gas prices over 8 dollars a gallon depends on location. diesel would be almost 10 dollars a gallon. so really we are basically paying what you are for gas and diesel at the pumps.

[mburnickas]

BINGO! throw in the crappy dollar and UK high taxes, we are more still. But for fuel price in my car, I could careless on the price. Now food prices, fert for grass is another story..The major issue I have is the price increase on fuel on the stock market is speculation and nothing else.

Problem I see daily, is people still love the SUV's but whine about fuel...No one told you to buy a 12 mpg SUV people.

[sevenrd]

Originally Posted by mburnickas

The major issue I have is the price increase on fuel on the stock market is speculation and nothing else

Actually, little of the price is speculation. It's simple supply and demand. We've been on a plateau of global oil production for around 3 years. Meanwhile, demand as continued to grow, out-pacing supply. Once global production begins its inevitable decline, expect $4 gas to look like the good old days.

"...the futures market is a zero sum game. For every long position there is a short position and the price is ultimately struck by the individual who takes delivery of the oil - which is then refined and purchased by a consumer. For so long as consumers keep demanding oil at ever higher prices, the price will continue to rise.

The only way speculation could impact the oil price is under accumulation. Inventories of crude oil and refined products have been falling for a year."

http://europe.theoildrum.com/node/4007

[Yal]

Originally Posted by 03SilverDak

I might be wrong but if the british pound is worth almost double to the us dollar. then when we convert our prices to the britsh pound that would make our gas prices over 8 dollars a gallon depends on location. diesel would be almost 10 dollars a gallon. so really we are basically paying what you are for gas and diesel at the pumps.

Ummm yes you are wrong. Sorry dude, wrong math. Its almost $2 to 1 pound sterling NOT the other way round So $4 dollar gas in the USA is actually 2 pound sterling gas in the USA.
The Brits are paying $10 a gallon for gasoline if you convert, we are paying $4 and change.

Let me simplify even further...
If we were using UK pound sterling here in the USA to buy gas we would only be paying 2 pounds sterling a gallon. People in the UK are paying almost 5 pound sterling for a gallon

[jfsully]

Crude Awakening: Behind the Surge in Oil Prices
Crude Awakening: Behind the Surge in Oil Prices - Economic Letter, May 2008 - FRB Dallas

And for the manipulation conspiracy:
Oil trading probe may uncover manipulation - May. 30, 2008

[mburnickas]

Originally Posted by sevenrd

Actually, little of the price is speculation. It's simple supply and demand. We've been on a plateau of global oil production for around 3 years. Meanwhile, demand as continued to grow, out-pacing supply. Once global production begins its inevitable decline, expect $4 gas to look like the good old days.

"...the futures market is a zero sum game. For every long position there is a short position and the price is ultimately struck by the individual who takes delivery of the oil - which is then refined and purchased by a consumer. For so long as consumers keep demanding oil at ever higher prices, the price will continue to rise.

The only way speculation could impact the oil price is under accumulation. Inventories of crude oil and refined products have been falling for a year."

The Oil Drum: Europe | Why oil costs over $120 per barrel

There was a big sotry on CNN and yahoo last week that the market prices are based on speculation. There was some GOV that is now looking into it. Even a quote that like OPEC said it was based on this.

I agree with what you are saying but demand is DOWN and prices are going up.

[truzoom]

I have now stopped filling up the entire gas tank on my truck. There isn't really any logic to this decision but it makes me feel better about the prices.

I figure if I only fill up to the half mark, I put in roughly 11 gallons of 87 which shouldn't exceed $50 here in OK. I usually just drive to/from work and to the store and movies sometimes. That is also 11-12 gallons of gas that I don't have to carry around so I guess it's around 70-75lbs of free'd up weight.

If I get started on my diet and drop 20-30 lbs, that's 100lb of weight I don't have to carry around in my vehicle.

Like I said, there's not really any logic to it but I feel better.

[charlesaferg]

Originally Posted by jfsully

Crude Awakening: Behind the Surge in Oil Prices
Crude Awakening: Behind the Surge in Oil Prices - Economic Letter, May 2008 - FRB Dallas

And for the manipulation conspiracy:
Oil trading probe may uncover manipulation - May. 30, 2008

...Ya think?

Originally Posted by sevenrd

China is about 3,600,000 sq. miles, contains about 19% of the world population and uses about 6.5 million barrels/day.

Yay for China as a role model!
Terrible comparison. Why?
Well...

Chinese Air Pollution... Yet still more reccuring scars of Chinese dictatorship...
"Industrial pollution has its most severe impact on the poor and in China, pollution incidents have been so serious as to be the cause of rioting in recent years. The lack of democracy and the level of corruption in development of factories and plants is a source of tension."
The actual figured are staggering, over half a million and beyond die or die prematurely directly from various forms of industrial pollution.


Russia... The Baltic, and the irrepairable remnants of the Soviet Era.


Or, Chinese poor! While the upper class flourishes on the US's need for random junk...


...or better yet, lets talk about Russia...

[Macruz19]

$4.06 for Premium @ BJ's wholesale!