Anyone notice nice drop in gas prices the last month

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shar-vell Dan said:
OPEC/Oil Companies & station owners set the price of gas, not the white house.
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The White House approves the permitting for oil companies for drilling, so you are stupid as usual.

We didn't need OPEC 4 years ago.
 
Geo said:
The White House approves the permitting for oil companies for drilling, so you are stupid as usual.

We didn't need OPEC 4 years ago.
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And a lot of US oil gets exported to Europe and China.
 
shar-vell Dan said:
OPEC/Oil Companies & station owners set the price of gas, not the white house.
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Geo said:
The White House approves the permitting for oil companies for drilling, so you are stupid as usual.

We didn't need OPEC 4 years ago.
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Both of you are wrong. It's the high school kid that works part time at the gas station that sets the price. That's who I always see up on the ladder at the local Chevron changing the numbers.
 
Geo said:
What's your point sports fan?
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My point is, it doesn't matter how much oil is produced or "permitted" in the US. If the production companies can get a better price overseas...that's where the oil is going. These companies could care less whether the U.S. consumer has to pay more at the pump or not. The consumer is a low priority. The top priority--and fiduciary responsibility--is to the shareholders.

That's Capitalism 101.
 
VonBonfire said:
Nobody was talking to you A-Bone. :LOL:
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JackTripper said:
My point is, it doesn't matter how much oil is produced or "permitted" in the US. If the production companies can get a better price overseas...that's where the oil is going. These companies could care less whether the U.S. consumer has to pay more at the pump or not. The consumer is a low priority. The top priority--and fiduciary responsibility--is to the shareholders.

That's Capitalism 101.
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OK so by your logic, if the USA stopped all permitting, the price at the pump wouldn't change? Really?
 
TOTALLY 'NOT' a market manipulation................PLEASE stop noticing........Go back to sleep...

 
Geo said:
OK so by your logic, if the USA stopped all permitting, the price at the pump wouldn't change? Really?
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If US production stopped completely, or more realistically was 100% exported, pump prices could certainly change in the US. I'm not arguing that point.

Again, my point is that these companies do not have a social responsibility to make gas cheaper for the average US consumer that is leveraged with a gas guzzling vehicle. These companies have a legal responsibility to their investors to squeeze every dollar out of every barrel--at the expense of the US consumer or any other market.

The thread implies that the government sets pump prices. It doesn't. In fact, the US is the only major oil market in the world that is not nationalized.
 
JackTripper said:
If US production stopped completely, or more realistically was 100% exported, pump prices could certainly change in the US. I'm not arguing that point.

Again, my point is that these companies do not have a social responsibility to make gas cheaper for the average US consumer that is leveraged with a gas guzzling vehicle. These companies have a legal responsibility to their investors to squeeze every dollar out of every barrel--at the expense of the US consumer or any other market.

The thread implies that the government sets pump prices. It doesn't. In fact, the US is the only major oil market in the world that is not nationalized.
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So, if the USA doubled the permitting of gas companies, the price at the pump and the barrel price of oil would drop.

So, the White house does control the price of oil through permitting.

Not sure why you are trying to deflect from the obvious, did you vote for Briben/Kamaltoe?
 
Geo said:
So, if the USA doubled the permitting of gas companies, the price at the pump and the barrel price of oil would drop.

So, the White house does control the price of oil through permitting.

Not sure why you are trying to deflect from the obvious, did you vote for Briben/Kamaltoe?
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Nah, just pointing out the obvious, which is your "theory" as to how these markets work has more plot holes than an episode of Gilligan's Island.

"Permitting," as you call it, is a process that takes years via environmental studies, a local regulatory approval process, a state regulatory approval process, a federal regulatory approval process, infrastructure planning and building, logistics planning and building and then, oh yeah, eventually drilling. So, what you are saying is that government controls month-to-month pump prices through this process? Yah, right.
 
JackTripper said:
So, what you are saying is that government controls month-to-month pump prices through this process? Yah, right.
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Never said month to month, supply and demand controls that but to say that the WH can't control the price of gas is just wrong.
 
JackTripper said:
Nah, just pointing out the obvious, which is your "theory" as to how these markets work has more plot holes than an episode of Gilligan's Island.

"Permitting," as you call it, is a process that takes years via environmental studies, a local regulatory approval process, a state regulatory approval process, a federal regulatory approval process, infrastructure planning and building, logistics planning and building and then, oh yeah, eventually drilling. So, what you are saying is that government controls month-to-month pump prices through this process? Yah, right.
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Ain't that what crude oil futures investing is about? Maybe you should reconsider your stance.
 
Geo said:
Never said month to month, supply and demand controls that but to say that the WH can't control the price of gas is just wrong.
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You just implied the WH controls supply through the permitting process.

The biggest inputs into pump prices are price of oil, refining costs, distribution/marketing costs and lastly gov taxes. Which one of these levers is the WH manipulating?
 
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