March 10, 2011
The high prices of gas in the USA and the world is not due to a shortage. Just as in 2008 it is speculators driving up the price. The price for a gallon of gas in Libya is $.46 down from $.62 a gallon. Quadaffy lowered the price to placate the people. So what about the $3 difference? Looks like we have been taken for a ride. There is plenty of oil, there is no shortage. None of the producers or Opec sees any shortage.Personally I think it is a media coverage problem. We are paying more to fill the pockets of people sitting at desks trading oil contracts. I figure they are making around $2 per gallon doing this.The other dollar goes to shipping and road taxes which I believe is more legitimate. Gas should be around $1.50. Gas stations I think make maybe 5% and they are not allowed to fix prices. How long will it take for us to realize we are being ripped off? Maybe Quadaffy will get his beloved oil installations back and oil will go to $10 a barrel. Wouldnt that be ironic!
The high prices of gas in the USA and the world is not due to a shortage. Just as in 2008 it is speculators driving up the price. The price for a gallon of gas in Libya is $.46 down from $.62 a gallon. Quadaffy lowered the price to placate the people. So what about the $3 difference? Looks like we have been taken for a ride. There is plenty of oil, there is no shortage. None of the producers or Opec sees any shortage.Personally I think it is a media coverage problem. We are paying more to fill the pockets of people sitting at desks trading oil contracts. I figure they are making around $2 per gallon doing this.The other dollar goes to shipping and road taxes which I believe is more legitimate. Gas should be around $1.50. Gas stations I think make maybe 5% and they are not allowed to fix prices. How long will it take for us to realize we are being ripped off? Maybe Quadaffy will get his beloved oil installations back and oil will go to $10 a barrel. Wouldnt that be ironic!
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