gas price thread

[Ben]

I was speaking with someone from Exxon Mobil and apparently it costs them something like $12 to get a barrel of oil out of the ground. Not sure how much transportation and all that stuff is, but I bet it comes in a long way short of the $125+ a barrel they're flogging it for at them moment.

 

[Dr. Shock]

By contrast, FirstSolar is up from 67.22 to 317.00 in the past year.

Invest wisely.

No argument there. But I'd rather buy their stock than have the government tax their windfall profits.

 

[tailwind]

I was speaking with someone from Exxon Mobil and apparently it costs them something like $12 to get a barrel of oil out of the ground

That sounds about right.

Back in 1998 the price was around $12-14 a barrel.
Oil exploration companies would have to base their economic modelling on whether to proceed with an oil field development based on these prices and still be able to make money.
So if the project had sanction to proceed at $14 a barrel and you are now able to sell that oil at $130 today, then that equates to big profits.

Greg

 

[paultrafalgar]

Rather than protest that the oil companies are making too much money, why not just buy some of their stock?

It's all my fault, sorry, I started this. Perhaps we shouldn't talk about politics or religion, but I can't resist 2 points in reply:
1. Do you believe that if thieves are making a lot of money we should all become thieves?
2. What about those who don't have enough spare money to buy stock?
MODERATORS! MODERATORS! WHEREFORE ART THOU MODERATORS!

 

[Jay64]

ohh im not complaining about gas prices im using them to motivate me too seek alternatives so i can flip off the gas stations as i drive by on a ev and that will make me feel all warm and fuzzy inside

I cut through gas stations all the time on my commute. It saves me that little bit extra rather then going around the corner. I know it is slightly more dangerous, but it's kind of funny use them as a short cut when I'm not using their product.

I have a diesel truck as my ICE transportation. When I bought it, diesel was the cheapest fuel you could buy, now it is the most expensive, by almost $1/gal. That really pisses me off. I'm researching on making my own biodiesel. If I don't start making my own then I am going to have to sell it to get a gas truck.

 

[docnjoj]

Rather than protest that the oil companies are making too much money, why not just buy some of their stock?

It's all my fault, sorry, I started this. Perhaps we shouldn't talk about politics or religion, but I can't resist 2 points in reply:
1. Do you believe that if thieves are making a lot of money we should all become thieves?
2. What about those who don't have enough spare money to buy stock?
MODERATORS! MODERATORS! WHEREFORE ART THOU MODERATORS!

I seem to remember a small bit of thievery in the oil biz recently, to the tune of BILLIONS of dollars. Think Enron!
otherDoc

 

[mcstar]

Perhaps just elucidation (from your point of view, of course) might be more productive.

I might use smaller words, Doc. Just a suggestion...

Elucidation is the correct word. Point well made

Perhaps just elucidation (from your point of view, of course) might be more productive.

Point well made docnjoj. I may have assumed the comment was an attempt to be critical. My mistake. Sorry TD.

 

[TylerDurden]

I'm researching on making my own biodiesel. If I don't start making my own then I am going to have to sell it to get a gas truck.

Go veggie... free fuel from the restaurants. You still may need a bit of dino, but the bulk can be WVO.

http://www.frybrid.com

 

[docnjoj]

Back on the old "Trucks" show, Stacy, the host, demonstrated a home still kit for biodiesel. It came with big polyeth tanks, tubing and chemicals! Was 7 or so feet tall, and I dont remember the cost, but even 2 years ago, it didnt seem outrageous! Research and find!
otherDoc
edit Backwoods Magazine has a good article by a PE! http://www.backwoodshome.com/articles2/yago101.html

 

[TylerDurden]

Bio-D is home-chemistry.

WVO is a few more parts on your vehicle and a simple system to clean the WVO: brown paper-bag filters work, so do 8000rpm centrifuges; the difference is speed.

 

[docnjoj]

Alright I give up! Whats WVO? I guess the VO is veggie oil?????
otherDoc

 

[TylerDurden]

Ja, mon...

WVO = Waste Veggie Oil
SVO = Straight Veggie Oil

Dino = T-Rex today.

 

[docnjoj]

Cute But nobody uses new VO to make Biodiesel. Its too expensive, so all biodiesel is waste oil, I think. The chemistry is real simple, and the only problem is having hazardous methanol and lye around. If I still had a diesel, I might consider home brew biofuel!
otherDoc

 

[Dr. Shock]

Rather than protest that the oil companies are making too much money, why not just buy some of their stock?

It's all my fault, sorry, I started this. Perhaps we shouldn't talk about politics or religion, but I can't resist 2 points in reply:
1. Do you believe that if thieves are making a lot of money we should all become thieves?
2. What about those who don't have enough spare money to buy stock?
MODERATORS! MODERATORS! WHEREFORE ART THOU MODERATORS!

I seem to remember a small bit of thievery in the oil biz recently, to the tune of BILLIONS of dollars. Think Enron!
otherDoc

Enron was electricity, at least that's what got them in trouble in California.

Market manipulation amounting to fraud should always be prosecuted. But oil price increases are largely driven by shrinking supply and increasing demand (China, India and everywhere else). So no, we should prosecute thieves, not become thieves ourselves, but if you see a commodity for which demand is increasing and supply is contracting you should buy it.

Those who truly can't afford to buy stock can't, obviously. They should either earn some money to buy some stock, or they should attempt to convince everyone else that the rich are evil and their wealth should be redistributed to the poor.



Doc, VO is Vegetable Oil, SVO is Straight Vegetable Oil, i.e. untreated, but also not previously used, and WVO is Waste Vegetable Oil. Many diesel engines can burn untreated oil as fuel, especially if it is heated to reduce its viscosity. This is different from biodiesel, which is treated to cause the glycerine to separate from the oil, leaving a less viscous fuel that can be burned without preheating, and which is tolerated by diesel engines that can't cope with untreated oil as a fuel. Biodiesel on a commercial scale is usually made from SVO, not WVO. Home biodiesel producers tend to use WVO as their feedstock.

 

[mcstar]

Great post Dr. Shock! I thought what you said, but you said it better than I would have!

 

[docnjoj]

I too like what U said Dr Shock, even if I dont agree with all of it! Enron was actually an energy holding and distributing company, who managed to basically use Pyramid scheme type behavior to loot the company. They held energy of all types, and traded from one to the other. If the market is reasonably pure, then some form of modified capitslism can work, but if its tainted, anything goes and chaos ensues! This type of behavior has been quite widespread, and lets not forget the delightful 1929 events that brought us the depression. Many similarities now. Im no doomsayer, but we need somebody watching the cookie jar!
Also, thanks for the Biofuel info!
otherDoc
edit! Also, oil prices now are largely being driven by speculation and fear. Its far and away above where supply and demand economics would really place them!

 

[slayer]

Here are the prices in (american dollar) of gas worlwide all compared and converted in imperial gallon or 4.54 litres. not in us gallon



Oslo, Norvège $6.82

Hong Kong $6.25

Québec, $6.23

Bruxelles,Belgique $6.16

Londres $5.96

Rome, Italie $5.80

Tokyo, Japon $5.25

USA, $4.76

Sao Paulo, Brésil $4.42

New Delhi, Indes $3.71

Sidney, Australie $3.42

Johannesburg, Afrique de sud $3.39

Mexique $2.22

Buenos Aires, Argentines $2.09

... you will like the next ones.

Riyadh , Arabie Saoudite $0.91

Koweit $0.78

Caracas, Venezuela $0.12

 

[Link]

$0.12 gallon!? WTF? How subsidized IS their gas?

 

[slayer]

Caracas is home to the Caracas Stock Exchange and Petróleos de Venezuela (PDVSA). The PDVSA is the largest company in Venezuela and negotiates all the international agreements for the distribution and export of petroleum.

 

[Mark_A_W]

The Australian price is $6.90, not $3.42.


Based on that, I doubt some of the other prices (not Venezuala though)

 

[slayer]

Yeah it s possible it is not that accurate ...i just had an e mail including all those prices and i was thinking to share it with you guys here...maybe some other people can correct the prices

 

[TylerDurden]

$0.12 gallon!? WTF? How subsidized IS their gas?

Venezuela is a major producer of oil products, which remains the keystone of the Venezuelan economy. Chávez has gained a reputation as a price hawk in OPEC, pushing for stringent enforcement of production quotas and higher target oil prices. At a June 2006 meeting, Venezuela was the only OPEC country calling for lowered production to drive oil prices higher.

Chávez has attempted to broaden Venezuela's customer base, striking joint exploration deals with other developing countries, including Argentina, Brazil, China and Russia. Record oil prices have meant more funding for social programs, but have left the economy increasingly dependent on both the Chávez government and the oil sector; the private sector's role has correspondingly diminished.

Chávez has redirected the focus of PDVSA by bringing it more closely under the direction of the Ministry of Energy and Petroleum. He has also attempted to repatriate more oil funds to Venezuela by raising royalty percentages on joint extraction contracts that are payable to Venezuela. Chávez has also explored the liquidation of some or all of the assets belonging to PDVSA's U.S.-based subsidiary, Citgo. Citgo, whose profitability made many Venezuelans skeptical, has been paying record dividends to the government of Venezuela.[137] Chávez said that "Venezuela had not received a penny from this enterprise for 20 years".[138] According to Finance minister Nelson Merentes, the Venezuelan 2006 budget would get more income from taxation than from the oil industry, unlike formerly.[139] A key non-oil related poverty reduction policy has been the application of the concept of the microcredit pioneered by Nobel peace prize laureate Muhammad Yunus of the Grameen Bank.

Search: Hugo Chavez
http://en.wikipedia.org/wiki/Hugo_Ch%C3%A1vez

 

[Ben]

This list is pretty up to date:

http://en.wikipedia.org/wiki/Gasoline_usage_and_pricing#Average_gasoline_prices_around_the_world

 

[Mark_A_W]

This man is my hero BTW: "Muhammad Yunus of the Grameen Bank".

 

[cerewa]

This man is my hero BTW: "Muhammad Yunus of the Grameen Bank".

+1, folks should read about all the stuff he suggests in terms of non-profit businesses that charge enough for services to cover their own costs (and no more) and about all the things you can do with a self-sustaining non profit organization, like loans, selling food, etc.