gas price explosion

Just this morning, gas was $2.71 here in central Nebraska. This afternoon, it didn’t go up a nickel….or even a dime….but TWENTY FREAKIN CENTS at one time. I’m just posting this as a question asking if anyone knows why the big jump out of nowhere, especially after gas prices have steadily been declining? There’s gotta be some explanation.

And…..do you ever notice how when prices are falling, all the gas stations just kinda get slow putting the new lower prices out?….but when they go up…..they ALL have them posted immediately. RAGE.

speculation of disruption of supplies by hurricanes.
WarrenMN

Bush was low on cash. Should go back down as soon as his buddies pay him off!

It is all about the Hurricanes that are headed to Texas, they are worried that the refineries are going to get shutdown again. The oil companies have already pulled the crews off of some the drilling wells.
I saw a jump from 2.63 to 2.99 and it could go higher.

This morning I head on one of the news channels that they determined the 2 tropical weather systems were not considered to be a threat to the oil industry and that they price per barrel would not be affected by the storms. Maybe the price went up before they decided the storms were not going to be a threat. In any case I would think that they should have to wait to raise the price only after a disaster such as a hurricane hits. I think I should tell my boss I need a raise now because he might give me one next year.

As I tried in my youth: any excuse should work.
It did not work for me BUT it seams to work for them.

It’s alway’s that way here in Hastings……And we only live 10 miles from 2 refineries!

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Bush was low on cash. Should go back down as soon as his buddies pay him off!

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What does a person even say to a reply as dumb as that????

The real truth is the oil companies are sticking it to us and they use whatever excuse they want. Bush doesn’t own an oil company and has no control over the prices. Look at the media and how eager they are to blame Bush for anything and everything. Not even the democraps go after Bush for inflating gas prices. Know why? It is BS!

I can’t wait until the dems take over the House. That way gas will be a nickel a gallon again and everyone will be getting regular pay checks. God how good it must be to live in Utopia.

I own 10,000 shares of Mobile. j/k, I may cry a little tonight when I fill up tonight.

Personally, I think hurricanes are the newest and best excuse to use. Do you remember the prices jumping all over the place even 6 or 8 years ago because of storms? I certainly don’t.

Please remember, I wasn’t trying to start anything. I was just simply asking a question. I have my own wild beliefs of what’s going on with gas prices, but I won’t post them here. Thanks for your answers.

This is turning a bit political

Better get use to it, because it’s only gonna get worse. And if you think this is bad wait 2-3 yrs and watch your electric bill quadruple!

wow

It should be short lived. Oil dropped $2 a barrel today and futures were down as much as 16% during todays trading.

-J.

You should all get used to the price of gas as it will be like this from here forward.

The oil companies do not set the price of oil anymore then we do. It is set by the commodities markets and by what the traders are willing to pay for it. It is the same as how the prices are decided for corn, sugar, pork bellies and orange juice.

It is all based on suppy and demand and right now the world is demanded about as much as can be supplied. If the oil companies are making record profits then the smartest thing to do is to buy thier stock and profit right along with them.

The best thing about the high price of oil is that it is spurring developement of alternatives that are simply not economically feasable at $30 – $40 a barrel.

As hard as it may be to accept the current high prices are going to be what saves our lifestyle as we know it. At $30 a barrel we will simply run out at some point in time and not have a replacement source of energy available to us.

Still $2.75 here and thanks for the warning on the 20 cents. Who wants to put out the first bet on a date when prices will get higher because of any storm and not a hurricane in the gulf or atlantic that will drive prices up. Thats another reason why they should maybe drill the artic,,,just in case theres a storm in the gulf or atlantic to keep prices stable. If they drill the artic I think a law should be passed to make sure all the oil that comes from there will go to America, wait that is America isn’t it, then the rest of the world can buy from venezuela or the mideast, kind of a ridiculous wish I guess.

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The oil companies do not set the price of oil anymore then we do. It is set by the commodities markets and by what the traders are willing to pay for it. It is the same as how the prices are decided for corn, sugar, pork bellies and orange juice.

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I find it rather odd that oil companies will reduce production to bring the prices back up when supply gets too high. When Katrina hit, and when the Alaskan pipeline was down for maintinence a while back, prices were at the same level as they are now. Prices being high at that time, but why now?

I work for a company who sells some very expensive parts to the oil industry. I am always hearing the sales guys where I work bragging about getting an order from one of these companies and how they really don’t care what our product costs. Funny thing is that goverment jobs for us are the same way .

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Just this morning, gas was $2.71 here in central Nebraska. This afternoon, it didn’t go up a nickel….or even a dime….but TWENTY FREAKIN CENTS at one time.

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Welcome to Minnesota

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Bush was low on cash. Should go back down as soon as his buddies pay him off!

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What does a person even say to a reply as dumb as that????

The real truth is the oil companies are sticking it to us and they use whatever excuse they want. Bush doesn’t own an oil company and has no control over the prices. Look at the media and how eager they are to blame Bush for anything and everything. Not even the democraps go after Bush for inflating gas prices. Know why? It is BS!

I can’t wait until the dems take over the House. That way gas will be a nickel a gallon again and everyone will be getting regular pay checks. God how good it must be to live in Utopia.

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I agree but when the dem. take over hopefully NEVER the us will turn to crap. Besides gas prices we will be fighting wars in the US instead of other countries.

I used to think it was all as simple as price gouging by oil companies… I fear its a great deal more complex than that… Im sure there is SOME price gouging SOMEwhere.. greed being what it is today and all… BUT… what it really looks like is happening is that we may have hit the scary time of “peak oil”… which is the theoretical time where the supply of oil would be at its absolute max.. meanwhile demand would keep increasing.. causing a widening gap in supply and demand and an ever increasing price… this will raise all kinds of havoc with our economy which in truth like all the economies of today is oil based… if this scenario is really true (and it looks like it might be.. since every oil supplier is producing flat out as much as they can except the saudis.. and they say they can increas their capcity.. but experts sayt not only cant they.. but they are actually having trouble sustaining current prod levels!)…
then things will continue to worsen… and until society changes in some fundamental way it will not change… technology is probably our only hope here.. maybe somehow, somewhere someone is sitting on an energy discovery of immense proportions such as an efficient cold fushion generator or something like that…. (you know.. the thing that powered the “future” delorean in back to the future where they could just toss in garbage.. and *presto*.. pure power)…
and pretty much anything to do with our society/economy is political in a way…. remember how great our economy was doing not so long ago? its still wheezing along.. I hope it survives the beating the dow is getting with all the problems that are showing up…. right now the price of gas is almost the least of our problems.. as weird as that is to say…. tommorrow I get to hear about our latest reorg.. I hope Im still employed!

Hey Rivereyes, if you are out a job tomorrow you could always fall back on your amazing photography to put food on the table!

(thanks slipsinker).. after working at selling my stuff I think I understand the term “starving artist”… Id hate to have to make a living off from it!… but I suppose if I HAD to.. my approach would be quite different (if not a bit desperate!)

Heres maybe some food for thought and maybe it will comfort some and for some maybe not. Ever accidently put battery cables on backwards when giving another car a jump start to its battery. It creats such a huge amount of hydrogen gas that it almost instantainously blows the top off the battery being jumped, it happened to my uncle with me standing there beside him, had to take him in and wash his eyes out and clean out a couple small cuts from the plastic. Thats alot of hydrogen being created in a very short time. I can see why they are considering Hydrogen fuel cells as a fuel resource. Hydrogen is very explosive and alot more so then gasoline, natural gas or propane whice they are now powering autos on. If hydrogen can be created right in the vehicle by a refined process maybe something similar to the batteries being jumped that might be enough hydrogen being created by a very simple process. If its enough hydrogen to power an auto with a couple 100 pound batteries that would be a solid answer to fuel an auto. Safety would be the next concern but i’ll bet it could be done, maybe with semiwet battery cells or wick cells to stablize the reaction instead of solid acid and water combination like in a auto battery. Heck I don’t know but it sure is fun to think about it. All I know is there is alot of hydrogen being made when you jump two wet cell batteries wrong with one part lead, one part water and one part acid with some voltage,,,and maybe an explosion off in the distance just over the treetops .

Lets not turn this into a political post or I am going to have to lock it up.

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Do you remember the prices jumping all over the place even 6 or 8 years ago because of storms? I certainly don’t.

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I thought the same thing. Gas prices didn’t change as much either back then.

Sorry about my earlier sarcasam!