Inspired by D6C complaining about gas prices :D. It’s a bit long (if you consider 9 min long) but the video does a nice job of explaining the oil speculation that’s driving prices up.
Re: Why Gas Prices Are So High
I am assuming above deals with traders speculating on oil price, thus increasing volatility. That is one component. But supply and demand also drives prices. If we drive fuel efficient vehicles, adapt (adopt?) fuel saving practices such as no idling, drive at speed where engine most efficient. combine trips, take publlic transportatio (where available), then gas prices will have an automatic ceiling imposed on them.
End rant.
Re: Why Gas Prices Are So High
I don’t care! I don’t need no stinkin’ 9 minute long YouTube video to explain to me why I just spent $75.38 to fill up my tank this morning! 
Enough is enough…told my hubby that I want to get rid of the Tahoe and get a Prius instead…
I may be in jeopardy of losing my card carrying Texan status by bucking the Chevy in favor of a Toyota hybrid but I’m sure my wallet/bank account will thank me…
Ok, rant over…
Re: Why Gas Prices Are So High
I am assuming above deals with traders speculating on oil price, thus increasing volatility. That is one component. But supply and demand also drives prices. If we drive fuel efficient vehicles, adapt (adopt?) fuel saving practices such as no idling, drive at speed where engine most efficient. combine trips, take publlic transportatio (where available), then gas prices will have an automatic ceiling imposed on them.
End rant.
Short version:
Supply of oil has gone up, and demand has gone down but the prices have increased. The reason for this is oil speculation, which makes up 64% of the market. This has nothing to do with supply and demand, just banks and other investment firms buying futures and raising prices.
Just to put this in perspective, the Koch brothers' fortune went from about 5 billion in 2004 to around 50 billion due to oil speculation.
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lol i remember these Young Turds. 
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You Texans and you obsession with trucks…although the ranting is pretty Texan of you. Just work in something about the GOP and lower taxes and you’re good to go. 
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And I was thinking about LPG and @sauthie sahab aap bhi apne desh ki bhaasha bhul gaye…
humare yanha to pet me bhi gas ki problem hoti hai aur ye americans petrol/diesel ko gas kehte hain:hayaa:
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Well, in my defense, when you have 3 kids in less than two years, a Chevy Tahoe is just about the only car/SUV that can accommodate three car seats and a double stroller while still leaving room to seat more than one person 
It’s all the bachas fault
Re: Why Gas Prices Are So High
^ Hiding behind your kids as an excuse…respect! 
I could have my truck if it weren’t for you meddling kids…
Re: Why Gas Prices Are So High
Short version:
Supply of oil has gone up, and demand has gone down but the prices have increased. The reason for this is oil speculation, which makes up 64% of the market. This has nothing to do with supply and demand, just banks and other investment firms buying futures and raising prices.
Just to put this in perspective, the Koch brothers' fortune went from about 5 billion in 2004 to around 50 billion due to oil speculation.
I think this guys works with Current TV - Young Turk. Good guy.
Yes, Republicans dont make sense re: their "energy policy" where drill baby drill is the mantra. I was not aware of the stat that oil import has decreased from 60% in 2006 to 36% now. That is a huge improvement - probably due to more domestic drilling. I assume the steep drop in Nat gas price has somehting to do with it also?
Yes, speculation plays a big role. Not a fan of Koch bros, GS etal. There was one hole in the analysis. He said oil supply has increased oer the years worldwide, and demand dropped - then he added - in the last year. That is crappy reporting. Unless he gives multi year trends of supply and demand, the conclusin is meaningless.
While speculation (as I spespected in earlier post) is now playing a big role, it is my educated guess demand over say last 50 years as been trending up (as evidenced by higher amt of greenhouse gases). So in long run, cutting demand will still be the solution.
I agree that rebublicans are tryong to distract from speculatirs by briinging up "energy independence" issue.
Re: Why Gas Prices Are So High
Hattori San, Jab mein Bharat mein tha, humaray paas gaadi kahan thi? Paidal chalthe the har jagah, ilictric train say jaathey they, jab jeb mein jyadha chillar ho, kabhi kabhi tation ko bus mein jaya karthey the. Isiliye hum petrol ko gas hi kahtay hai.
Re: Why Gas Prices Are So High
Dont know notn abt the Tahoe. But how do you plan to get the kids in the hybrid.
Prius gives 50 mph of driven well. But for those with lead foot, it may be as low as 40-42 mph. And one can approach that mileage by non-lead foot driving.
Re: Why Gas Prices Are So High
Yes, speculation plays a big role. Not a fan of Koch bros, GS etal. There was one hole in the analysis. He said oil supply has increased oer the years worldwide, and demand dropped - then he added - in the last year. That is crappy reporting. Unless he gives multi year trends of supply and demand, the conclusin is meaningless.
While speculation (as I spespected in earlier post) is now playing a big role, it is my educated guess demand over say last 50 years as been trending up (as evidenced by higher amt of greenhouse gases). So in long run, cutting demand will still be the solution.
I agree that rebublicans are tryong to distract from speculatirs by briinging up "energy independence" issue.
Yeah that's a good point about the length of the trend. The main takeaway, for me at least, is the speculative market. I saw another report that showed that the oil industry is still subsidized more than the government by far, compared to alternative energies. Just lobbying and BS as usual in the political sphere.
Re: Why Gas Prices Are So High
^ Yes - oil indistry gets a lot of tax breaks/subsidies etc. That is why renewables need to get similar breaks to be playing on a level playing field.
As for speculation, it is legal to bid on commodities. There are commodity markets for cattle futures cotton futires oil etc (I am absolutely zero on these). So nothing inherently wrong in having a market. Todays Wall Street Journal talks abt this speculaion and warns that the buying may be overdone. So there will be a speculative component to the price - both on the up side and down side. Just as in the stock market, when there is froth, it happens both on the upside (2000 tech bubble, 2007 financial buble) and downside (March 2009 market lows). But ultimately what drived stock prices is supply and demand and fundamentals. I suspect the same is tru fo rany other asset class - in this case oil.
Re: Why Gas Prices Are So High
Dont know notn abt the Tahoe. But how do you plan to get the kids in the hybrid.
Prius gives 50 mph of driven well. But for those with lead foot, it may be as low as 40-42 mph. And one can approach that mileage by non-lead foot driving.
They have outgrown the car seats...masla hal!!
Prius has 4 doors....and then there is always the roof...just get time some strong rope, the fresh air will do them good....
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$50 ki gas 2.5 din main khatam aur abhi tu June bhi nahi aya hai :(
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Oh good thing is that now people will start selling their SUVs at dirt cheap price.
Time to buy a good SUV 
My wife wants one.
Re: Why Gas Prices Are So High
SUVs are never gonna go cheap in amreeka - land of the big, home of the huge.
and facepalm @ texans complaining about gas prices. $4.50 here. star you guys.
Re: Why Gas Prices Are So High
SUVs are never gonna go cheap in amreeka - land of the big, home of the huge.
and facepalm @ texans complaining about gas prices. $4.50 here. star you guys.
Holy moly.
it's $4.15 here. I think I cried when I saw that :(
Re: Why Gas Prices Are So High
SUVs are never gonna go cheap in amreeka - land of the big, home of the huge.
and facepalm @ texans complaining about gas prices. $4.50 here. star you guys.
Not new ones, but last time it happened when we hit $4, people were selling their gas guzzlers at much cheaper price.
Holy moly.
it's $4.15 here. I think I cried when I saw that :(
We had a thread on this couple of years back and let me say what I said then. Let me do a little math for you &Passionate.
Lets assume that you drive a car that gives you 20 miles per gallon. Lets say that you drive 1200 miles a month. That makes it 60 gallons. Lets assume that you are happy if gas is $3.15 a gallon, but now you want to cry cause its $4.15 a gallon. DO you know the difference per month? You are only paying $60 extra every month. We spend more than that on Coffee, Pizza - heck we spend more that that in one trip to Walmart on impulse buying.
Honestly, gas price hike is not that of a big deal, We just make it to be.
Now I know that slowly all other prices and services hike up when gas prices go up, but it happens so slowly that we hardly notice that (compare the price of one gallon of milk or one dozen eggs with the prices in 2008 and you will hardly see any diff)