Katrina question

[Dumbo]

If you really think this administration will ask the oil cartel to pay for anything, I have great deals on beach front properties you would love to own...

Remember, these are the same people who cut gov funding for flood prevention programs in Alabama and somewhere else, from what I hear.

Of course this was after they cut taxes. I got a $300 refund years ago and about the same reduction yearly. Can't even start to count how many times I have spent that "tax reduction" in local taxes increases and higher prices on just about everything, from milk to home insurance.

Guess who will have to pay to rebuild what Katrina destroyed? I am ready to do my part, but I don't expect what you suggest to happen.

[RicodJour]

Mebbe so, but the gas in the tanks at the individual gas stations has already been paid for. Raising prices due to calamity on the existing, already-been-paid-for supply is pretty much the definition of gouging.

R

[Duane Bozarth]

....Snip incoherent rambling...

As has been pointed out ad infinitum, oil (and gasoline) are traded on open mercantile markets...oil is bought/sold there, at market prices.

[G Henslee]

He's watching CNN like you should be. Got any home repair topics to discuss, genius?

[EXT]

Yup, "market prices" that magic, uncontrollable, all powerful force, that determines the price. Much of it is determined by a handful of oil companies that run the world's oil supply. No one tells them to lower oil prices much less tells them to raise the prices. They charge what they can get away with. After all would we want their management to have to forgo their multi million dollar bonuses for increasing the bottom line for this quarter!

[BobK207]

The consumer (us) have a fari amount of influence on commodity prices. My wife & I were going to drive ~700 miles ove the labor weekend but decided not to go because of $3/gallon gas.

If more people did this gas (& oil prices) would fall.

Carpool only onje or two days a week, take the bus Combine trips, forgo trips, etc

Small changes by all of us can make a big difference.

cheers Bob

[Dave Jefford]

Pray, God will solve all our problems. BTW, where is God Now?

[Duane Bozarth]

Actually gasoline is also traded on the exchanges...

It tracks oil (obviously) in pretty close lock-step. At the pump prices are affected by local and federal taxes, transportation, and regional and local requirements for specific additives/mixtures for environmental (mostly) purposes, and competition.

[Lar]

In article , [e-mail] says... :) Pray, God will solve all our problems. BTW, where is God Now? :) Those who believe would say he is in the heart's of those lined up giving blood, money, opening up their homes and volunteering their time for the needy.

[CR]

Hey, watchya asking for that beachfront? I don't know if they were asked, but the Saudi Refining Co. just donated 5 million for relief.

CR

[Sacramento Dave]

I have a simple question just my observation. You see all the destruction the confusion witch is to be expected in a disaster this size. The question are flying, the blame is being pointed. We are seeing are government talking, predicting telling what an impact it all is ( there's a no brainier)Well hear is my question The same as everyone else's Why is the aid and help taking so long? Why don't they just ask the oil Co. to help ? They are fast the wasted no time raising oil prices. Fox News "State Attorney General Bill Lockyer on Friday launched a probe into possible price gouging by gas and oil companies following Hurricane Katrina." Well I'll sleep better now, somebody's on it.

[Duane Bozarth]

Who, specifically is "gouging"? Something approaching 25% of the US supply of refined petroleum products was lost for an indefinite period and you expect the markets to not reflect that in an already tight world market?

[Dave Jefford]

Of course, make money while you can. The rich will get richer and let those who can't pay, walk!

God take care of the rich who can pay only.

[Sacramento Dave]

If you really think this administration will ask the oil cartel to pay for anything, I have great deals on beach front properties you would love to own...

I don't think they would get a dime frome them. My point was they could show them how get it done fast. But then in the administration wisdom and thinking They will Tax the Tobaco CO.. (I'm not a smoker) What the hell they tax them for everything else.

[HorneTD]

What do you expect the station's owner / operator to pay for the replacement fuel with. The price of what they are selling now must cover the cost of what they will buy to replace it.

[Michael Daly]

Don't confuse the price of a barrel of oil with the price at the pump. The former is set on world markets. The latter is manipulated by the supply chain. The price of a barrel goes up 10% and the price at the pump goes up 25%. Look at the fraction of the pump price that actually reflects the cost of oil and then realize the the other costs are largely fixed in the short term and it's pretty obvious that the pump price is theft. And as another poster pointed out - the oil in the supply chain is already paid for - at lower prices.

Mike

[FDR]

The money that they have made from previous transactions. Do you think gas stations don't make profits.

On the flip side, when the wholesalers drop their prices, the gas staions will be a lot slower lowering prices. They will have made a lot more money and will pocket the difference.

[Edwin Pawlowski]

The same people bitching about oil prices will look at their 401k at the end of the year and think it is wonderful because the companies they hold make lots of profit.

[Edwin Pawlowski]

They can use money and credit like every other business in the word does.

[Amun]

Did someone call me ?

Couldn't tell you where GOD is. But I thank him for giving me the common sense not to live in a hole with a few dirt mounds keeping the ocean out of my living room

AMUN