We are importint double the oil from Canada then the middle east. How is it that has prices are the same to get it from them vs middle east. I don't under stand.
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It is a commodity. You don't Call Bob and Doug up in Canada and tell them you want to buy oil. The price is set on the commodities market, just like corn, wheat, pork bellies, so on.
Oil companies and producing countries don't control the prices but they can influence it -
Is that true? If so I'm surprised. I feel like if that were the case it would be a bit cheaper. Even so you can't expect them to give it to us.Comment
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Supply and demand and speculators. We do not have enough refineries to keep up with the demand for fuel in the states and until we start to build refineries, which probably won't happen becasuse of the enviro freeks, then prices will remain high. Speculators have some to do with the prices also. I heard on the news to day thaat 68 cents of every gallon goes to the refinery and some company is sinking several billion dollars in a refinery in Caracus, Venezuela as long as they buy the needed parts from the US. Isn't Hugo Chavez the pres of Venezuela and a big time US hater? Why is this US company, it has not been named, doing this and not getting called out on the carpet. This is part of our economic problem. That and the jobs czar is the head of GE and they paid no taxes and most of their jobs are going overseas and cutting back on the job force here. He is in that position because he is also a big contributor to you know BHO!Comment
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This is a good point. Market price is market price whether you buy it from neighbor Bill or at the corner store up the street.Originally posted by asttbe View PostComment
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Buy more Canadian and keep us expats employed in North America!
Ask for it at your local retailer.
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Why is gas under a dollar in forgien countrys? I understand the u.s. tax but come on.Comment
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Are you talking about Venezuala, Egypt, Nigeria, Saudi? They are exporters. They keep what they need and export the rest. Lot cheaper when you don't have to import or buy off the marketOriginally posted by cantexduck View Post
Here ya go. Old prices but the info at the top is the sameLast edited by asttbe; 04-19-2011, 05:17 PM.Comment
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So do we not drill oil here? Where does that oil go?Comment
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The oil from Canada is harder to get out of the ground (Tar Sands ) so it involves more work. In reality the oil used to produce gas in your vehicle is not Brent Crude ( Sweet Crude ) it is sour and most of it comes from Russia, Mexico, Venezula ect... most of your Brent Crude (Sweet Crude ) is used to make fine oil products not gas. Yes the sour oil is cheaper than the Brent Crude pricing you see on the market but it still dictates the price.
As far as gas being under a dollar in foriegn countries, not really. It is actualy well over 5 dollars a gallon even over 7 dollars a gallon in foreign developed nations.Comment
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That like saying you drink 40 gallons of milk in your house a day but you have a cow that puts out one gallon. We produce about 25% of what we consumeComment
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Problem is that we could produce 100% of what we consume with the oil in the ground here. We have 2 proven fields documented here in the continential US and each of them dwarf what the middle east has but greed is the issue. Exxon has held the lease on one of the single largest reserves in the world since the mid 60's and has never tapped it they just keep paying for the lease so no one else can get it.Comment
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the government owns all the oil rights in those countries. So essentially they "sell" the oil in their own country below the global price.Originally posted by cantexduck View PostComment
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What fields are you referring to lil armond?Comment
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Sounds like politics to me. Take something that could be simple and then make it complicated as all get out.
We price our product at work from last months price. Why is oil priced at tomorrows market?Comment
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