gas prices dropping?
Aug 1, 2008 | 12:09 PM
#32
remenber, these high prices we see on the stock market is for high grade sweet crude. many, many refineries run sour crude which is damn near $80 less per barrel than sweet crude. refineries are still making tons of $$$$. another reason why gas prices are so high and deisel is even higher is because of supply and demand. other countries like europe rely almost soley on deisel, so refineries are changing up the process to make almost all deisel to export to other countries, thus making less gas to put on the market here in the U.S. so the gas prices stay high. your big companies like B.P. and Exxon are monopolizing the refining business because they drill their own crude and sell it, resulting in huge profits. it doesnt cost them hardly anything to make petrolium products, because they dont have to buy the oil.
Aug 2, 2008 | 04:58 PM
#40
I think the um "middle eastern" people are realizing that if they continue to let the price of oil skyrocket that their bread and butter will dry up since it will be more financially viable to look for alternative sources of power therefore cutting the demand for gas and of course oil. All the hybrids and **** box econo cars that have been sold in the last year or so is not helping their business especially with the great reduction in the demand for gas over the last 2 months. Im not going to hold my breathe for it being a lasting change but I think it will continue to go down over the next few months then after the election who knows, heating oil in the winter always jacks things up.
