Gas Price totally out of hand!!

[GeoFisher]

The ONLY thing that really will effect the price of a gallon is the FUTURE price. ONLY THING. Speculation is a fact of life in our current method of trade. Yea, the speculators drive up the price. WANNA fix this crap, pass laws limiting how they purchase. Do you realize you can buy the option on a million gallons of gas and only have the capital to pay for 1 tenth of it........then RIDE the price, and THEN SELL.........

With the advent of day trading, and internet trading, it is so easy to make HUGE dollars by driving up the price of a gallon of gas. Guys sitting at home on a daily basis are trading futures UP over the real price. They do it without the capital, and trade it down without the capital.

FIX the speculative nature of this market........maybe RULES against oil speculation. The only reason it exists in the first place is because of government intervention 100 years ago. Speculative trading is very important to the flow of commodities. This is what keeps things like Corn and Cattle and such from fluctuating by DOLLARS per year instead of cents..........

A good bit of information.............Futures trading for Oil and GAS plummeted today........

http://online.wsj.com/article/BT-CO-...11-713260.html

This is the ONLY thing that will effect the price of the product.

Later,

Geo

[bplgocards]

Anyone have any vasoline I can borrow to help my rear end recover from the raping it is taking by these prices??

[artcarney_agr]

Oil futures have been on a downward slide now for a couple of weeks:
http://money.cnn.com/data/commodities/

Oil futures are below $100 a barrel right now.

Something it totally wrong somewhere between when it's sold on the market, and when it's sold to the gas stations.......

[DJD]

Looks like several stores are dropping their gas prices within the last 24 hours. Just checked a few spots in Kentucky, Ohio and Maine.

[roadrunner]

From the NY Daily News
Plus, the value of the U.S. dollar is down, so the prices of primary commodities like minerals, oil and nonprocessed food items are up.

Add all these factors together, and it's no wonder that crude oil is 38% more expensive this quarter than it was a year ago. In the United States, the average price for a gallon of gasoline is around $4.

In other words, oil costs more - so those who sell it are taking in more money.

Yet oil companies' profit margins - that is, the percentage by which their revenues exceed their costs - are quite low. From 2006 to 2010, the nation's five largest oil companies posted an average profit margin of 6.65%. By contrast, Apple's profit margin exceeded 22%, and Coca-Cola's surpassed 33%.

[Chubminnow]

I was on the base at Fort Knox this morning...ON BASE this morning around 8:30 am I saw gas for 3.79.....this afternoon when we left (around 3:00 pm or so), gas was STILL at 3.79 per gallon. Evidently someone forgot to tell the folks on base that price gouging was to be put into effect this week.

No sooner than we got outside of the gate, what do you know, there it was for 4.19 per gallon!

I ain't blaming government for this price gouging...all I'm saying is government needs to keep their stinkin' wrong doin' hands off of it and figure out what to do to get pricing down....and we all know what that is, it means drill here and drill ASAP (not sure how long ASAP is). Supply and deman....competition, etc...If my competitor says he can give it for such and such price then by gawd I'm gonna try to do my darndest to be competitive right there with my competitor.

It also means changing the ways, means and methods of everything we do...it's called the Three R's...reduce, reuse and recycle, use local products if at all possible to reduce the cost of transportation, etc. The list goes on fella's and I ain't even scratchin' the surface and the changes that ned to take place in order to quit having to deal with this ridiculous raping of our wallets.

[Embrey]

if the world ever runs out of oil and we have to drill, we'll probably just ship it all overseas to 'help out' like we always seem to have to do. and then itll be 8 bucks here

[MsgMills]

Notice everytime the local news reports that gas is possibly going to go up to a certain price...it jumps up to exactly that price.

Plus I saw on the news that since the Mississippi River is supposed to ( Maybe ) flood some of the refineries in the south....They are preparing them selves in case they do get flooded and it cuts the production.... Not that the river will flood them out. They are just thinking it might happen so they are thinking ahead in case it does....

[HURRICANEBOB]

Anyone have any vasoline I can borrow to help my rear end recover from the raping it is taking by these prices??

OMG....it goes in the gas tank! So how many gallons "did you take".