WTF? Does this sound like price gouging

[ARCHIVED THREAD] - WTF? Does this sound like price gouging

Posted: 9/22/2005 11:35:37 AM EDT

Here in Idaho gas was $2.32 a gallon before hurricane Katrina. After N.O. was ethnically cleansed, gas went up to $2.93 a gallon. It retreated to $2.81 on Monday and is again moving north to $2.83.

Does this sound like gouging??

Posted: 9/22/2005 11:38:53 AM EDT

[#1]

Uh, sure.....

Posted: 9/22/2005 11:39:00 AM EDT

[#2]

Not compared to the prices we're paying here in WI. Before Katrina gas was around $2.69. Went up to $3.25 after Katrina, and then slowly came back down to $2.69 again. It was still $2.69 on tuesday. Wednesday morning it jumped to $2.89...not sure what it is today...

Posted: 9/22/2005 11:39:47 AM EDT

[#3]

[broken record]
There is no such thing as price gouging...
[/broken record]

Posted: 9/22/2005 11:43:10 AM EDT

[#4]

The point I'm making is the price went up over 50 cents per gallon in like two days because of the hurricane. Shouldn't the price come down as much as it went up considering the cost of a barrel of crude is about the same????

Posted: 9/22/2005 11:45:34 AM EDT

[#5]

Quoted:
The point I'm making is the price went up over 50 cents per gallon in like two days because of the hurricane. Shouldn't the price come down as much as it went up considering the cost of a barrel of crude is about the same????

The cost of a barrel of crude may or may not correlate to the cost of refined gasoline. If refineries shut down, the cost of crude will drop (less demand from the refineries), but the cost of gas will increase (less supply to the pumps).

Posted: 9/22/2005 11:45:46 AM EDT

[#6]

Quoted:
Here in Idaho gas was $2.32 a gallon before hurricane Katrina. After N.O. was ethnically cleansed, gas went up to $2.93 a gallon. It retreated to $2.81 on Monday and is again moving north to $2.83.

Does this sound like gouging??

No, it does not.

Posted: 9/22/2005 11:46:20 AM EDT

[#7]

Quoted:
The point I'm making is the price went up over 50 cents per gallon in like two days because of the hurricane. Shouldn't the price come down as much as it went up considering the cost of a barrel of crude is about the same????

Crude price has little to do with it. Refinery capacity is the bigger issue. Katrina shut done a good bit of our refinery capacity. Rita may do so as well.

We REALLLLLY need to build more refineries in this country.

Posted: 9/22/2005 11:47:22 AM EDT

[#8]

Especially refineries that aren't smack dab in the middle of hurricane alley...

Posted: 9/22/2005 11:51:34 AM EDT

[#9]

Quoted:
Especially refineries that aren't smack dab in the middle of hurricane alley...

The problem is that the oil that the refineries need arrive
via tankers or via offshore platform, therefore, a deepwater
port nearby is a requirement.

Quite the catch-22.

Posted: 9/22/2005 11:55:08 AM EDT

[#10]

...and CNN just reported the Port of New Orleans just closed in addition to the closing of a significant processed fuel pipeline supplying the midwest US.

A full 25% of refined fuel products comes from the TX/LA coast. Supply and demand at it's finest...
~m38a1

Posted: 9/22/2005 11:55:38 AM EDT

[#11]

Quoted:
The problem is that the oil that the refineries need arrive
via tankers or via offshore platform, therefore, a deepwater
port nearby is a requirement.

Quite the catch-22.

What's the difference between piping/trucking the crude oil a distance to the refinery as opposed to trucking/piping the refined gas a distance to distribution centers?

Posted: 9/22/2005 11:56:51 AM EDT

[#12]

Ehh, moving a couple of cents certainly doesn't sound like gouging.

When you see it move up $0.80 to $1.00 between breakfast and lunch, you can bet your ass that is gouging....

Posted: 9/22/2005 11:58:21 AM EDT

[#13]

If I am not mistaken, Georgia has a port that takes in some products such as oil and gas near Savannah

Posted: 9/22/2005 11:58:47 AM EDT

[#14]

You were getting $2.30 in Idaho?! I'm jealous.

Posted: 9/22/2005 11:59:52 AM EDT

[#15]

Drive across the border from Pullman.

Posted: 9/22/2005 12:03:43 PM EDT

[#16]

yeah, pret-ty much....

Posted: 9/22/2005 12:22:10 PM EDT

[#17]

$2.81 in Fife, WA 09/22/2005

Posted: 9/22/2005 12:27:34 PM EDT

[#18]

It all sounds like price gouging. I heard a stat last night that for gas to be $3.00/gal the price of a barrel of crude would have to be $90.00.

Posted: 9/22/2005 4:34:42 PM EDT

[#19]

What's the difference between piping/trucking the crude oil a distance to the refinery as opposed to trucking/piping the refined gas a distance to distribution centers?

The difference is that most states don't want those nasty, stinky, polluting refineries, but want the products they produce.

And refineries don't just produce gasoline, deisel, and lubricating oil. They produce plastics, paints, fertilizers, asphalt, wax, antifreeze, and many other products, all made from crude oil and natural gas.

So, just like The Little Red Hen, everybody wants to eat the cornbread, but nobody wants to plow, plant, water, harvest, or grind the corn.

Posted: 9/22/2005 4:43:36 PM EDT

[#20]

Before the katrina if you were paying over $1.25 you were being gouged, after katrina then over about $1.60 then you were being gouged. Now if it breaks 1.85 then your being gouged. Up until 2 days ago I worked in a gas station, trust me on this I know what they pay for gas.

Posted: 9/23/2005 6:51:41 AM EDT

[#21]

Quoted:
It all sounds like price gouging. I heard a stat last night that for gas to be $3.00/gal the price of a barrel of crude would have to be $90.00.

Must be based on your own local economy, then.....we been paying in the area of $3.35 since the last storm.

Posted: 9/23/2005 6:55:31 AM EDT

[#22]

Quoted:
It all sounds like price gouging. I heard a stat last night that for gas to be $3.00/gal the price of a barrel of crude would have to be $90.00.

O'Rielly is FOS on this issue. The cost of crude is only one component in the price of gas at the pumps.

Someone please define gouging to me. What is it?

Posted: 9/23/2005 6:55:35 AM EDT

[#23]

Quoted:
Before the katrina if you were paying over $1.25 you were being gouged, after katrina then over about $1.60 then you were being gouged. Now if it breaks 1.85 then your being gouged. Up until 2 days ago I worked in a gas station, trust me on this I know what they pay for gas.

Somehow I find this hard to believe.

Posted: 9/23/2005 7:11:42 AM EDT

[#24]

Open a wall street journal. Exxonmobil has surpased walmart as the leading retailer. It doesn't cost a dime more to pump oil out of the ground now, than it did 15 years ago. They've raised prices steadily and are getting very very rich off of everyone who drives. In lord of war, Nick Cage watched a Arab shooting an AK on FA. Everytime the bolt cycled he heard the "ka ching" sound. Everytime we start our cars, other people hear the same sound.

Posted: 9/23/2005 7:14:44 AM EDT

[#25]

Quoted:
Open a wall street journal. Exxonmobil has surpased walmart as the leading retailer. It doesn't cost a dime more to pump oil out of the ground now, than it did 15 years ago. They've raised prices steadily and are getting very very rich off of everyone who drives. In lord of war, Nick Cage watched a Arab shooting an AK on FA. Everytime the bolt cycled he heard the "ka ching" sound. Everytime we start our cars, other people hear the same sound.

Well, why don't you buy Exxon Mobil? XOM.

Posted: 9/23/2005 7:15:19 AM EDT

[#26]

Someone please define gouging.

Posted: 9/23/2005 7:15:33 AM EDT

[#27]

Quoted:
Quoted:
Open a wall street journal. Exxonmobil has surpased walmart as the leading retailer. It doesn't cost a dime more to pump oil out of the ground now, than it did 15 years ago. They've raised prices steadily and are getting very very rich off of everyone who drives. In lord of war, Nick Cage watched a Arab shooting an AK on FA. Everytime the bolt cycled he heard the "ka ching" sound. Everytime we start our cars, other people hear the same sound.

Well, why don't you buy Exxon Mobil? XOM.

Float me a loan for a couple billion and I'll do it.

Posted: 9/23/2005 7:15:35 AM EDT

[#28]

Quoted:
Open a wall street journal. Exxonmobil has surpased walmart as the leading retailer. It doesn't cost a dime more to pump oil out of the ground now, than it did 15 years ago. They've raised prices steadily and are getting very very rich off of everyone who drives. In lord of war, Nick Cage watched a Arab shooting an AK on FA. Everytime the bolt cycled he heard the "ka ching" sound. Everytime we start our cars, other people hear the same sound.

Learn about economics. Commodity prices are set by market demand in relation to supply. Oil demand has risen dramatically, while supply is all but stagnant. Therefore, prices rise. In common parlance, oil is today a seller's market. Commodity prices have almost NOTHING to do with cost of production.

I do so wish they would teach economics in school.

Posted: 9/23/2005 7:25:36 AM EDT

[#29]

Quoted:
Quoted:
Quoted:
Open a wall street journal. Exxonmobil has surpased walmart as the leading retailer. It doesn't cost a dime more to pump oil out of the ground now, than it did 15 years ago. They've raised prices steadily and are getting very very rich off of everyone who drives. In lord of war, Nick Cage watched a Arab shooting an AK on FA. Everytime the bolt cycled he heard the "ka ching" sound. Everytime we start our cars, other people hear the same sound.

Well, why don't you buy Exxon Mobil? XOM.
Float me a loan for a couple billion and I'll do it.

Ok. 15% interest and you got a deal.

Posted: 9/23/2005 7:25:56 AM EDT

[#30]

Sounds like freedom and capitalism to me comrade.

[ARCHIVED THREAD] - WTF? Does this sound like price gouging

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