Do people really not understand that the price of gas has to do with oil company profits, not the Iraq War?

Am I the only person who laughs when I see "the price at the pump has nothing to with profit" and then "it's supply and demand".

The companies control how much oil is refined. In fact, if you do research you'll find oil companies purchasing refineries and then closing them down to keep production lower.

So yes, the cost per barrel is a commodity and part of the rise is due to declining dollar value (oil is purchased in US currency only) and the bid-war for oil versus the euro but don't be stupid and believe that oil companies can't artificially inflate the price at the pump and don't think they haven't suppressed technology to keep us on oil. In fact, there's a patent from the 70's for a working engine running off hydrogen (made internally from seawater).

Edit: My mistake, I checked and Francisco Pacheco had a small working engine by the 1940's.

I would love to hear your recordings of the conversation you describe between the "Oil Companies" and Bush... Ohhh you don't have any it's just that "everybody knows it" OK if you say so... I little reality quiz ... Who makes the most money from the sale of a gallon of Gasoline?

Answer... The Government! almost 50% more than the Oil Companies. So when the price goes up the Government makes the most because of taxes that are fixed and % of sale both.

No people do not understand that the price of gas has to do with oil company profits, not the Iraq War because neither part of your question is true.

No, he didn't. Bush was surprised to hear that prices were supposed to hit $4 a gallon in the next year. Of course it's not a good thing for a president to appear surprised and distressed at a live press conference, but I'm pretty sure he wouldn't have been stupid enough to make such a promise. It would be political suicide.

That being said, oil company profits are a big factor in gas prices, but the government doesn't have much to do with that. I'm sure the government would be lowering prices if they could, since the prices are making people really angry and jeopardizing the politicians' power.

Another factor in the price of oil is that the oil reserves are starting to run low. This year Saudi Arabia has triple the number of oil pumps it had operating in 2003, and they're still not producing as much as they did then. They're acting as though it's a voluntary supply decrease, of course, but the statistics prove otherwise.

So let's get our butts off oil. :)

It's hedge fund operators that are raising the price of all comodities.

They do the following:

1. Buy oil at the current price

2. Then speculate on the future price and make bets by buying oil at a higher price than what it's selling at now.

3. They sell the oil they bought originally for a higher market price, thus giving them a heft profit.

that's my one massive gripe, that the oil agencies are recording checklist salary, at the same time as raping the yank electorate. fairly some human beings won't be able to make certain the forrest in spite of the undeniable fact that the timber and understand that the gasoline expenses impacts each thing we do and each thing we consume. From produce to a bar of cleansing soap! one factor that does could desire to be understood is that no longer all of this lies on Bush's sholders, all of this basically commencing happening (conflict exception) as quickly as we went into the standard elections. there is a lot to be pronounced for that as properly. to handle the conflict i might could desire to declare that grew to become into and is prolonged because of the fact if we've been at conflict on the time Bush grew to become into re-elected that grew to become into for a reason, maximum Presidents who run for re-election throughout the time of wartime very virtually continuously win.

It has to do with both, actually, although the Iraq war plays a much smaller part than the unquenchable greed of the oil companies.

It's about supply and demand AND that this country has not built a single gas/oil distillation plant since Jimmy Carter set new standards for the EPA. Just like Iran, they sit atop the world's third largest known oil deposit and yet because they have not built any gas/oil distillation plants, they are forced to IMPORT rather than export. Yep! They're making HUGE profits, and you keep buying huge, gas guzzling, behemoth SUVs. Isn't capitalism great?!! Your "Secret" meeting was so incredibly secret, it's on par with the von Schleffan Plan.

You are so wrong on so many levels. The price of gas/oil has to do with demand. Not profits. Just look at the largest consumers; China and India, they are buying cars in record numbers, that is one of the main reasons for the price increase. And, another are the wack job environmental crowd. They have done everything in their power to stop the oil companies from drilling here and building refineries. And we the sheep have allowed it. Once we stop being collective idiots and start fending for ourselves, the better off we all will be.

The rising price of gasoline is completely dependent on speculation. Oil futures are sold on the floors of the Chicago and New York Merchantile Exchanges and have only seen a sharp spike in price per barrel because of increasing consumer demand in developing markets such as India and China. I have done extensive research on the cost of oil and I think I must note that it is believed by many experts that, if oil futures were not traded in US dollars but in European or Middle Eastern currency, the price of oil would skyrocket in the US.

The price of gasoline is also increasing because of a shortage in usable oil. Oil is used for a variety of different purposes and require different procedures to create its uses. Deisel fuel for trucks and aircraft are created from oil, as also is gasoline for automobiles, among others. Apparently gasoline conversion is one of the most difficult and error prone procedures for oil.

I don't really care what is causing it. I say first man to dig in Alaska or come up with a real alternative,aka not ethanol or solar or wind or H2O or all of those other lame products. I mean a real alternative, if I knew what it was I would sell it myself and become a trillionair.