Why is gas so High

[geehaw]

Well I am not one that believes to much in off topic post in this forum. Put I thought this might just Merit it. So the local news today said that an oil tanker returned to the Alyeska Pipeline Oil Terminal in Vadez, AK with oil still in in its tanks that it could not find a place to unload it in the lower 48 as the storage tanks at all refineries on the west coast were full. This is the first time since the Alaska pipline has been pumping oil that this has happened. That's been somewhere in the neighborhood of 35 years. So if supply and demand is driving the high cost of gasoline why is it currently so high? Well I could go in to a whole lot of political reasons but I think that might be to far for this forum! Just thought some would like to know. Greg.

 

[Stu Jackson]

So if supply and demand is driving the high cost of gasoline why is it currently so high?

Greg, the answer is the GLOBAL market, not just the good old US of A. If the oil companies can sell for a higher price in China, that's where the refined material will go.

 

[Don S/V ILLusion]

It's more the devaluation of the USD which has created the price of petroleum to artificially increase. As compared with the international monetary standard, gold, the price hasn't increased at all. The issue of what/who has caused the devaluation of the USD is a discussion best left out of the sailing forum.

 

[monkeybars]

while we are the largest importer of crude oil, we are also the largest exporter of gasoline in the world. its a world market and no law says exxon can't sell their gas to the highest bidder or commodities buyer whom maybe purchasing for any country in the world.

 

[Volksfolks62]

Funny that this subject was brought up. I know the owner of the local BP gas station down the street. Just the other day I asked him why he charges more for fuel than most every other gas station. About 50 cent higher across all grades. His reply "people complain every day WHILE pumping their gas guzzlers up".And he's right to a point , some of us will do what we can to save but the majority of us just keep on pumping no matter what the cost .And none of us no longer have any representation to keep it down .Again I remind you that this guy is 50 cent higher across all grades than the cheveron that ls just across the street .....and had 4 cars fueling up.

 

[monkeybars]

gas is only expensive if your the average american.for alot of people who are more economicly successful the price of gas is not even noticed, their monthly gas expenses are probably less then their 16yearolds weekly allowance.

 

[Indysailor]

I don't notice it too much and I'm pretty average. The reason is that I live within a bike commute of my work and probably only put 6K miles a year on my car.
It's lucky for me to have it so well, and even though it was a conscious decision on our part to avoid being dependent on cars for all our transportation needs, I am fortunate to live in a community where that is possible. I feel for people who aren't able to make the same choices.