When will it stop??? $12 per gallon???

[HUNTNETIME]

Is the amount we pay for oil the same as what other countries pay for oil? Sorry for such a naive question, but I have to wonder if we are being singled out or if our situation is unique? Is the reason Europe and other countries pay so much for gasoline due to high crude prices or due to lack of refining capability or what? Anybody? I personally feel like we, as a country, are filling the Arab's and other countries' wallets and they like it too much to do anything about it. I'll have to ask my neighbor if they are maxed out in refining capability...he works for a refinery.

[kyle1974]

Is the amount we pay for oil the same as what other countries pay for oil? Sorry for such a naive question, but I have to wonder if we are being singled out or if our situation is unique? Is the reason Europe and other countries pay so much for gasoline due to high crude prices or due to lack of refining capability or what? Anybody? I personally feel like we, as a country, are filling the Arab's and other countries' wallets and they like it too much to do anything about it. I'll have to ask my neighbor if they are maxed out in refining capability...he works for a refinery.

It probably depends on where the oil is from.

in the united states, individuals can own the oil, thus royalty payments of minreal rights are paid to whoever owns the minerals on any given lease.

I have heard as high as 25% of the revenue being paid to the mineral rights holder (an individual, not a oil company). say at $125 a barrel for oil, a landowner with mineral rights will get $31.25 for every barrel pumped out of the well. With natural gas at over $10 per thousand cubic feet, they get $2.50. There are natural gas wells in east texas that are producing over 60 MILLION cubic of gas per day..... do the math on that one!

in other countries (like venezuala) the government owns all the rights to the oil or gas, so they can subsidize it if they choose to do so.

[Jaspro]

I have heard as high as 25% of the revenue being paid to the mineral rights holder (an individual, not a oil company). say at $125 a barrel for oil, a landowner with mineral rights will get $31.25 for every barrel pumped out of the well.

My grandparents get an oil check every 3 months. The check they got in March, and I can't remember the cost of oil then, but the check would have been for oil sold in December anyway as their lease holder runs a quarter behind but anyway thier check then was for $41 a barrell. Thier lease is an old one. They don't even sell the natural gas it goes to the house and they use it for their heating and cooking fuel.

[BrianL]

Is the amount we pay for oil the same as what other countries pay for oil? Sorry for such a naive question, but I have to wonder if we are being singled out or if our situation is unique? Is the reason Europe and other countries pay so much for gasoline due to high crude prices or due to lack of refining capability or what? Anybody? I personally feel like we, as a country, are filling the Arab's and other countries' wallets and they like it too much to do anything about it. I'll have to ask my neighbor if they are maxed out in refining capability...he works for a refinery.

The short answer is yes. Oil companies produce(pump) the oil, they in turn sell the oil to refineries, refineries sell to distributers, distributers sell to regional distributers, regional sell to local retail. Exxon has all of them, but most do not.

Europe is more expensive because of the tax they place on their gas. Their tax is $4-5/ gallon, thus the consumer pays $9/gallon.

crude oil is $130 per barrel. 130/42(gallons in a barrel of crude) = 3.10/gallon of crude oil. US tax is .42/gallon. It is amazing they can produce and distribute gas for for what they do.

[Bill]

For those saying seize Iraq's oil, that would get us no where but headaches with trunk lines continually under attack, platforms, blown up, and all other kinds of terrorist activity.

Tommy,

Step 1- take the Iraqi oil
Step 2- send home the media
Step 3- Bring in the Turks to guard the oil fields, and when they tell their 'bro "For each person we catch, we'll disembowel their family, and grind-up their babies to feed the troops" (see what the Turks did to the Armenians in 1917 in retribution for their loss in WW1), the ragheads will change their behavior. My Dad told me stories about the Turks in Korea, and a co-worker was station in Vietnam with a group of Turkish troops. They're crazy mo-fo's, who you want on your side.

I never thought I'd see this. $4.00/gallon regular at the cheapy-gas station I always fill-up at. My Dodge is in the driveway, the "chick magnet" as my son called the Volvo, is my daily driver at 20 mpg (it was 25 last summer, wonder why out loud).

You can't see the mountains above the ARCO sign because of the big fire burning south of my house.

[Bullydog]

A typical starbucks costs $3.59 for 16 oz. That's 22 cents per ounce or $28.72 a gallon! (Saw this stat earlier today)

I see plenty of people driving through everyday to get their cup, right next to door to the gas station selling 4.00 dollar gas......Line doesnt seem to be gettin shorter at either place.....Just my observation

I dont.......I drive a Deisel.

[kyle1974]

My grandparents get an oil check every 3 months. The check they got in March, and I can't remember the cost of oil then, but the check would have been for oil sold in December anyway as their lease holder runs a quarter behind but anyway thier check then was for $41 a barrell. Thier lease is an old one. They don't even sell the natural gas it goes to the house and they use it for their heating and cooking fuel.

I've never had to worry about when my mineral check is coming in

I wish I did though!

I worked with this old fart ( 78 years old) ((no offense to anyone who is that old by the way)) that finally retired because his old oil wells back home in oklahoma were finally turned back on about a year ago after oil went up. Back at $20 a barrel, it wasn't even worth it to run the electricity when they were just getting a few barrels a day. Now a few barrels a day is like a gold mine.

[Jaspro]

Kyle I don't know if you saw it on an earlier post I made. For 15 or so years my grandparents well made MAYBE 35 barrels a year. That was it. Pretty much kep running just to keep them in gas as that was the way the lease was ran. In february they came in and "infused" the well and put new casing in it and some how now its making between 4 and 5 barrels a week.

[kyle1974]

Kyle I don't know if you saw it on an earlier post I made. For 15 or so years my grandparents well made MAYBE 35 barrels a year. That was it. Pretty much kep running just to keep them in gas as that was the way the lease was ran. In february they came in and "infused" the well and put new casing in it and some how now its making between 4 and 5 barrels a week.

at $130 a barrel... they're able to put some technology into these wells.

I think (or know) we're going to see alot more of this. Instead of drilling a new well, dealing with the permits and costs, operators are going to be working over more and mroe wells to stimulate the flow on them.

Maybe I'll try to pull a beverly hillbillies and "shoot up some bubblin' crude" in my backyard.

[Bill]

A typical starbucks costs $3.59 for 16 oz. That's 22 cents per ounce or $28.72 a gallon!

If I had to fill-up my car with coffee, that would be a relevant comparison. Plus you have an option if, or not, to buy Starbucks. Plus I think their coffee tastes burnt, and I drink black coffee.

[Heath]

I drove from Louisville, KY to Detriot, MI today. I saw 3.99 the whole way until I got to Detriot and it is 4.09. Diesel is 4.99 up here. Glad my Yukon is getting 21 mpg as it could be worse.

[Mudslinger]

Gas is now 3.78 and Diesel has jumped from Monday's price of 4.15 to 4.49 per gallon. Did not quiet fill my truck up today and it still cost $153 for about 32 gallons at Murphy's at 4.36 a gallon.

[Jaspro]

If I had to fill-up my car with coffee, that would be a relevant comparison. Plus you have an option if, or not, to buy Starbucks. Plus I think their coffee tastes burnt, and I drink black coffee.

But thats a thought! Imagine how fast and far your car would go hyped up on coffee.

[Bill]

My wife is hooked on the crapola, and what she drinks fills an entire line to order it.

I always ask if they have fresh, low-fat goat milk?

[Bullydog]

It was completely irrelevant Bill and not an attempt to hijack your thread, but I found it interesting how people (not saying TBH people) just people will complain about certain things and do other things that make no sense to me..

Earlier in the week one of the guys was in the office drinking his triple café, hooptie shot, double bubble espresso from and overpriced coffee place......AND bitchin about how much it cost him to fill up his truck "yesterday" after work.....It made me laugh..

I am in the process of giving up snuff, for health reasons, but it also costs too **** much for me to be buying the things I don't really need...And to be bitchin about gas..

Since I want to biatch about gas/price of oil....etc.. I feel I gotta give something up in return for awhile.