Gas @ $2.50 a gallon (page 2)

FlyingHighNow

FHN, you really have no understanding of how the economy works, do you?

A lot more idea than you dream, John.

wha happened?

well it started as a gas thread by why not high jack it to economics?

With Obama as president and the very real possibility of a filibuster proof senate, as well as the chances of a windfall profit tax against the five largest U.S. oil companies, you betcha it has affected gasoline prices. They have dropped $2.50 per gallon where I live. This is about much more than a drop in demand.

wha happened?

speculation the cause?

John Doe

With Obama as president and the very real possibility of a filibuster proof senate, as well as the chances of a windfall profit tax against the five largest U.S. oil companies, you betcha it has affected gasoline prices. They have dropped $2.50 per gallon where I live. This is about much more than a drop in demand.

Let's assume your premises are true. Now, do you really think the government would get away with/would charge $2.50 per gallon "windfall profits tax?" If not, why in the hell would gas companies lower their prices by that amount? Now, remember, there are numerous costs involved in gas production. The number one largest is crude oil, which accounts for $.73 of every dollar spent on fuel, according to the Department of Energy. Crude oil topped out around $150 per barrel this summer, and it is now $56 per barrel, or roughly 1/3 of what it was during the summer. Now, who makes money on crude oil? That's right, OPEC and the oil producing nations, who are not subject to any "windfall profits tax." The supply oil to the entire world, not just this country. Their level of production determines crude oil prices. Considering these documented facts, can you see how ridiculous your statment is?

FlyingHighNow

John, do some research. What I am saying is not my own idea.

John Doe

John, do some research. What I am saying is not my own idea.

I don't care whose idea it is. It's preposterous.

FlyingHighNow

John, I didn't come up with the idea myself.

John Doe

Which is completely irrelevant. As I said, it doesn't matter whose idea it was. If someone said that the sun will start shining longer each day in December because Obama is about to be come pres, it would not matter who thought of it. The notion is ridiculous.

wha happened?

so a minor lunar eclipse is arguing a donkey, love it

Gas @ $2.50 a gallon

Share this