FUEL: Yes we're being gouged, but get a grip!
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Joined: Mar 2001
Posts: 13,713
From: The Golden State
FUEL: Yes we're being gouged, but get a grip!
In another thread, someone brought up the view that high fuel prices may threaten performance cars. Tthere's also just been alot of bemoaning about fuel prices, and how it's getting too expensive to drive. The reason I call it BEMOANING is because it seems no one has a real perception as to how cheap gas is today compared with other times in the past 15-20 years, let alone in history.
First off, make NO mistake. We ARE being gouged! There's no shortage, oil prices haven't jumped much, and (this I want you to slowly read & digest!:
THE US GETS ONLY 12% OF IT'S OIL FROM THE MIDDLE EAST!
Translation: Events in the middle east minimally impact our oil supply. If EVERY middle eastern country decided to embargo our oil supply, the other countries we get our oil from can easily make up the difference! (Europe on the other hand get most of theirs from the middle east
)
So, yes we are being gouged, and that's where the problem is and that's where everyone's anger should be aimed. OIL COMPANIES!
Now, with that said & out of the way, from a strictly pricing standpoint, gas today is not very expensive, even at $2.50per gallon!! One thing we all forget here is that inflation over the years has distorted the concept of prices. In San Francisco last August, gas ran about $1.68. In 1990 dollars, that's only $1.11 per gallon. In constant terms, the end of 1986, spring 1998 to spring 1999, and finally, from the winter of 2001 to just recently are the ONLY TIMES IN HISTORY where fuel has been cheaper!
http://www.mtc.ca.gov/datamart/stats/gasprice.htm
In another thread I compared the price of a Mustang GT in 88 (one of it's most popular "recent" years) at $14,000 to fuel at the time, roughly $1 per gallon, to the price of both today (roughly doubled in both cases). If you don't want to take my word for it, check out the average price of gasoline in constant dollars (in this case 1996) when inflation is factored in (next to last column):
http://www.dca.state.fl.us/fhcd/gas_...df/table11.pdf
Some highlights:
*From 1980 to 1982, fuel cost well over $2 per gallon in constant dollars.
*In the late 1990s, gasoline was the cheapest in history!
* The muscle car boom of the late 70s happened when gas was high (in the $1.40 per gallon range).
As for doomday senarios regarding high performance cars and fuel prices, historically that simply is not true. Performance cars died out before fuel prices went crazy in the 70s, and actually did not do well at all when gasoline was the cheapest. During the "Muscle car' 60s, gas averaged the equivlent of $1.60 per gallon ($1.80 in 1960!).
If anything, the price will make people think twice about getting SUVs & Trucks. But, if you actually think about it, a 50 cent increase is only $7 per tank if you hold 15 gallons. If someone is spending $30,000 or more for a vehicle, it's NOT going to really effect them. If you have a Neon or something with a 10 gallon tank, it's $5 per tank. Is anyone really going to be effected by that? That's cheaper than 2 coffees at Starbucks!
So if you are going to get bent over anything, be bent that Oil Companies are fleecing you. At least if the goverment had put a 50 cent per gallon tax in it, at least it would have benefitted more people than the very rich few who are pocketing the money now.
For a quick lesson on inflation:
http://www.agweb.okstate.edu/pearl/a...farm/f-220.pdf
First off, make NO mistake. We ARE being gouged! There's no shortage, oil prices haven't jumped much, and (this I want you to slowly read & digest!:
THE US GETS ONLY 12% OF IT'S OIL FROM THE MIDDLE EAST!
Translation: Events in the middle east minimally impact our oil supply. If EVERY middle eastern country decided to embargo our oil supply, the other countries we get our oil from can easily make up the difference! (Europe on the other hand get most of theirs from the middle east
)So, yes we are being gouged, and that's where the problem is and that's where everyone's anger should be aimed. OIL COMPANIES!
Now, with that said & out of the way, from a strictly pricing standpoint, gas today is not very expensive, even at $2.50per gallon!! One thing we all forget here is that inflation over the years has distorted the concept of prices. In San Francisco last August, gas ran about $1.68. In 1990 dollars, that's only $1.11 per gallon. In constant terms, the end of 1986, spring 1998 to spring 1999, and finally, from the winter of 2001 to just recently are the ONLY TIMES IN HISTORY where fuel has been cheaper!
http://www.mtc.ca.gov/datamart/stats/gasprice.htm
In another thread I compared the price of a Mustang GT in 88 (one of it's most popular "recent" years) at $14,000 to fuel at the time, roughly $1 per gallon, to the price of both today (roughly doubled in both cases). If you don't want to take my word for it, check out the average price of gasoline in constant dollars (in this case 1996) when inflation is factored in (next to last column):
http://www.dca.state.fl.us/fhcd/gas_...df/table11.pdf
Some highlights:
*From 1980 to 1982, fuel cost well over $2 per gallon in constant dollars.
*In the late 1990s, gasoline was the cheapest in history!
* The muscle car boom of the late 70s happened when gas was high (in the $1.40 per gallon range).
As for doomday senarios regarding high performance cars and fuel prices, historically that simply is not true. Performance cars died out before fuel prices went crazy in the 70s, and actually did not do well at all when gasoline was the cheapest. During the "Muscle car' 60s, gas averaged the equivlent of $1.60 per gallon ($1.80 in 1960!).
If anything, the price will make people think twice about getting SUVs & Trucks. But, if you actually think about it, a 50 cent increase is only $7 per tank if you hold 15 gallons. If someone is spending $30,000 or more for a vehicle, it's NOT going to really effect them. If you have a Neon or something with a 10 gallon tank, it's $5 per tank. Is anyone really going to be effected by that? That's cheaper than 2 coffees at Starbucks!
So if you are going to get bent over anything, be bent that Oil Companies are fleecing you. At least if the goverment had put a 50 cent per gallon tax in it, at least it would have benefitted more people than the very rich few who are pocketing the money now.
For a quick lesson on inflation:
http://www.agweb.okstate.edu/pearl/a...farm/f-220.pdf
Last edited by guionM; Mar 14, 2003 at 10:08 AM.
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Joined: Jul 2001
Posts: 581
From: New York, NY
I completely agree with you on all of your points guionM. THe facts are irrefutable and I've known that the amount of oil we get from the middle east is just above 10%. I just didn't know how much. I've been telling people I know about this for a while now. But even though the amount of oil we receive from the middle east is only 12% and Saudi Arabia produces three times the oil Iraq produces, that amount should not be underestimated. Oil is known to be a VERY inelastic good. I think it's elasticity of demand is something incredibally tiny, like 0.05. Meaning if we lose a TINY bit of that supply, the price of gas is going to spike. If the Middle East destabilizes, I a change in maybe 5% of our supply would probably shoot gas prices EASILY over $3 a gallon if they're current above $2 a gallon. This is why drilling in Alaska makes sense to me. If we can replace the 12% dependence of oil in the Middle East to 5% while getting 7% of our supply from Alaska, we have just stabilized prices that much further. But on the whole, we're an increase in $0.40 a gallon is nothing. Fuel is still mostly cheap.
Japan gets 2/3'rd of its oil from the Middle East! Europe gets OVER 2/3's of its oil from the Middle East. Link here. Imagine what would happen to Europe if the Middle East destabilized with such an elasticity of demand for oil? Europe would be in utter chaos. Maybe this is the reason why Europe is against military action in Iraq? If something bad happens, their economies may go down the hole while the United States would still be very much ok?
Japan gets 2/3'rd of its oil from the Middle East! Europe gets OVER 2/3's of its oil from the Middle East. Link here. Imagine what would happen to Europe if the Middle East destabilized with such an elasticity of demand for oil? Europe would be in utter chaos. Maybe this is the reason why Europe is against military action in Iraq? If something bad happens, their economies may go down the hole while the United States would still be very much ok?
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Joined: Oct 2001
Posts: 859
From: AR (PA born and fled)
Re: FUEL: Yes we're being gouged, but get a grip!
I completely agree with everything you wrote except......
I can think of the 6.6 TA. Tell me what I'm missing. 
It does irritate me though when people complain about something without knowing the facts.
It especially bugs me when someone has a performance car and then complains about gas prices/having to pay for premium grade or the cars mpg. That's the price of admission boys and girls!
You could always buy a Corolla.
Originally posted by guionM
The muscle car boom of the late 70s
The muscle car boom of the late 70s
I can think of the 6.6 TA. Tell me what I'm missing. It does irritate me though when people complain about something without knowing the facts. It especially bugs me when someone has a performance car and then complains about gas prices/having to pay for premium grade or the cars mpg. That's the price of admission boys and girls!
You could always buy a Corolla.
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Joined: Mar 2002
Posts: 145
From: Halifax, Nova Scotia
I’m no Brainiac on the subject, but here is your breakdown of who you import oil from .... (based on Jan Feb March 2001 imports)
Source: http://www.borderbandit.com/content/economic/oil.htm
OPEC COUNTRIES
0.44% Indonesia
4.45% Iraq
2.85% Kuwait
10.16% Nigeria
17.72% Saudi Arabia
16.03% Venezuela
NON-OPEC COUNTRIES
4.27% Angola
0.20% Brunei
0.04% Cameroon
14.46% Canada
0.17% China
0.50% Congo (Brazzaville)
0.08% Congo (Kinshasa)
1.24% Ecuador
0.12% Malaysia
13.96% Mexico
0.04% Peru
0.53% Trinidad & Tobago
12.73% All Others
So the major players are Saudi Arabia, Venezuela, Canada, and Mexico.
Question is ... what huge domestic supplies does the US have ? Texas etc .... must be large?
Ted
Source: http://www.borderbandit.com/content/economic/oil.htm
OPEC COUNTRIES
0.44% Indonesia
4.45% Iraq
2.85% Kuwait
10.16% Nigeria
17.72% Saudi Arabia
16.03% Venezuela
NON-OPEC COUNTRIES
4.27% Angola
0.20% Brunei
0.04% Cameroon
14.46% Canada
0.17% China
0.50% Congo (Brazzaville)
0.08% Congo (Kinshasa)
1.24% Ecuador
0.12% Malaysia
13.96% Mexico
0.04% Peru
0.53% Trinidad & Tobago
12.73% All Others
So the major players are Saudi Arabia, Venezuela, Canada, and Mexico.
Question is ... what huge domestic supplies does the US have ? Texas etc .... must be large?
Ted
Last edited by Ted 99 TA WS6 Conv; Mar 14, 2003 at 11:13 AM.
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Joined: Nov 1999
Posts: 2,801
From: Nashville, TN
Last time I checked oil was $40/barrel, about 25% higher than it was 3 mos. ago.
So while I agree there's no reason to cry about gas prices (because they really aren't that high when inflation adjusted), I don't necessarily agree that we're being gouged.
Oil prices are going up on speculation, not because of a reduction in supply or an increase in demand.
So while I agree there's no reason to cry about gas prices (because they really aren't that high when inflation adjusted), I don't necessarily agree that we're being gouged.
Oil prices are going up on speculation, not because of a reduction in supply or an increase in demand.
Thread Starter
Registered User
Joined: Mar 2001
Posts: 13,713
From: The Golden State
Originally posted by Ted 99 TA WS6 Conv
I’m no Brainiac on the subject, but here is your breakdown of who you import oil from .... (based on Jan Feb March 2001 imports)
Source: http://www.borderbandit.com/content/economic/oil.htm
OPEC COUNTRIES
0.44% Indonesia
4.45% Iraq
2.85% Kuwait
10.16% Nigeria
17.72% Saudi Arabia
16.03% Venezuela
NON-OPEC COUNTRIES
4.27% Angola
0.20% Brunei
0.04% Cameroon
14.46% Canada
0.17% China
0.50% Congo (Brazzaville)
0.08% Congo (Kinshasa)
1.24% Ecuador
0.12% Malaysia
13.96% Mexico
0.04% Peru
0.53% Trinidad & Tobago
12.73% All Others
So the major players are Saudi Arabia, Venezuela, Canada, and Mexico.
Question is ... what huge domestic supplies does the US have ? Texas etc .... must be large?
Ted
I’m no Brainiac on the subject, but here is your breakdown of who you import oil from .... (based on Jan Feb March 2001 imports)
Source: http://www.borderbandit.com/content/economic/oil.htm
OPEC COUNTRIES
0.44% Indonesia
4.45% Iraq
2.85% Kuwait
10.16% Nigeria
17.72% Saudi Arabia
16.03% Venezuela
NON-OPEC COUNTRIES
4.27% Angola
0.20% Brunei
0.04% Cameroon
14.46% Canada
0.17% China
0.50% Congo (Brazzaville)
0.08% Congo (Kinshasa)
1.24% Ecuador
0.12% Malaysia
13.96% Mexico
0.04% Peru
0.53% Trinidad & Tobago
12.73% All Others
So the major players are Saudi Arabia, Venezuela, Canada, and Mexico.
Question is ... what huge domestic supplies does the US have ? Texas etc .... must be large?
Ted
Originally posted by Chewbacca
I completely agree with everything you wrote except......
I can think of the 6.6 TA. Tell me what I'm missing. It does irritate me though when people complain about something without knowing the facts.
It especially bugs me when someone has a performance car and then complains about gas prices/having to pay for premium grade or the cars mpg. That's the price of admission boys and girls! You could always buy a Corolla.
I completely agree with everything you wrote except......
I can think of the 6.6 TA. Tell me what I'm missing. It does irritate me though when people complain about something without knowing the facts. It especially bugs me when someone has a performance car and then complains about gas prices/having to pay for premium grade or the cars mpg. That's the price of admission boys and girls!
You could always buy a Corolla.
As for performance cars of the 70s, Corvette set sales records, and as you pointed out, Trans Ams sold about as fast as Pontiac could make them. Not exactly alot of choices, but enough of a boom to make everyone else rush tape jobs to market.
Actually, the Volare Road Runner & the Aspen R/T with the 360s by late '70s standards were also pretty quick.
Last edited by guionM; Mar 14, 2003 at 11:58 AM.
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Joined: Mar 2002
Posts: 3,180
From: Yadkinville, NC USA
Re: FUEL: Yes we're being gouged, but get a grip!
Originally posted by guionM
In another thread, someone brought up the view that high fuel prices may threaten performance cars. Tthere's also just been alot of bemoaning about fuel prices, and how it's getting too expensive to drive. The reason I call it BEMOANING is because it seems no one has a real perception as to how cheap gas is today compared with other times in the past 15-20 years, let alone in history.
First off, make NO mistake. We ARE being gouged! There's no shortage, oil prices haven't jumped much, and (this I want you to slowly read & digest!:
THE US GETS ONLY 12% OF IT'S OIL FROM THE MIDDLE EAST!
Translation: Events in the middle east minimally impact our oil supply. If EVERY middle eastern country decided to embargo our oil supply, the other countries we get our oil from can easily make up the difference! (Europe on the other hand get most of theirs from the middle east )
So, yes we are being gouged, and that's where the problem is and that's where everyone's anger should be aimed. OIL COMPANIES!
Now, with that said & out of the way, from a strictly pricing standpoint, gas today is not very expensive, even at $2.50per gallon!! One thing we all forget here is that inflation over the years has distorted the concept of prices. In San Francisco last August, gas ran about $1.68. In 1990 dollars, that's only $1.11 per gallon. In constant terms, the end of 1986, spring 1998 to spring 1999, and finally, from the winter of 2001 to just recently are the ONLY TIMES IN HISTORY where fuel has been cheaper!
http://www.mtc.ca.gov/datamart/stats/gasprice.htm
In another thread I compared the price of a Mustang GT in 88 (one of it's most popular "recent" years) at $14,000 to fuel at the time, roughly $1 per gallon, to the price of both today (roughly doubled in both cases). If you don't want to take my word for it, check out the average price of gasoline in constant dollars (in this case 1996) when inflation is factored in (next to last column):
http://www.dca.state.fl.us/fhcd/gas_...df/table11.pdf
Some highlights:
*From 1980 to 1982, fuel cost well over $2 per gallon in constant dollars.
*In the late 1990s, gasoline was the cheapest in history!
* The muscle car boom of the late 70s happened when gas was high (in the $1.40 per gallon range).
As for doomday senarios regarding high performance cars and fuel prices, historically that simply is not true. Performance cars died out before fuel prices went crazy in the 70s, and actually did not do well at all when gasoline was the cheapest. During the "Muscle car' 60s, gas averaged the equivlent of $1.60 per gallon ($1.80 in 1960!).
If anything, the price will make people think twice about getting SUVs & Trucks. But, if you actually think about it, a 50 cent increase is only $7 per tank if you hold 15 gallons. If someone is spending $30,000 or more for a vehicle, it's NOT going to really effect them. If you have a Neon or something with a 10 gallon tank, it's $5 per tank. Is anyone really going to be effected by that? That's cheaper than 2 coffees at Starbucks!
So if you are going to get bent over anything, be bent that Oil Companies are fleecing you. At least if the goverment had put a 50 cent per gallon tax in it, at least it would have benefitted more people than the very rich few who are pocketing the money now.
For a quick lesson on inflation:
http://www.agweb.okstate.edu/pearl/a...farm/f-220.pdf
In another thread, someone brought up the view that high fuel prices may threaten performance cars. Tthere's also just been alot of bemoaning about fuel prices, and how it's getting too expensive to drive. The reason I call it BEMOANING is because it seems no one has a real perception as to how cheap gas is today compared with other times in the past 15-20 years, let alone in history.
First off, make NO mistake. We ARE being gouged! There's no shortage, oil prices haven't jumped much, and (this I want you to slowly read & digest!:
THE US GETS ONLY 12% OF IT'S OIL FROM THE MIDDLE EAST!
Translation: Events in the middle east minimally impact our oil supply. If EVERY middle eastern country decided to embargo our oil supply, the other countries we get our oil from can easily make up the difference! (Europe on the other hand get most of theirs from the middle east
)So, yes we are being gouged, and that's where the problem is and that's where everyone's anger should be aimed. OIL COMPANIES!
Now, with that said & out of the way, from a strictly pricing standpoint, gas today is not very expensive, even at $2.50per gallon!! One thing we all forget here is that inflation over the years has distorted the concept of prices. In San Francisco last August, gas ran about $1.68. In 1990 dollars, that's only $1.11 per gallon. In constant terms, the end of 1986, spring 1998 to spring 1999, and finally, from the winter of 2001 to just recently are the ONLY TIMES IN HISTORY where fuel has been cheaper!
http://www.mtc.ca.gov/datamart/stats/gasprice.htm
In another thread I compared the price of a Mustang GT in 88 (one of it's most popular "recent" years) at $14,000 to fuel at the time, roughly $1 per gallon, to the price of both today (roughly doubled in both cases). If you don't want to take my word for it, check out the average price of gasoline in constant dollars (in this case 1996) when inflation is factored in (next to last column):
http://www.dca.state.fl.us/fhcd/gas_...df/table11.pdf
Some highlights:
*From 1980 to 1982, fuel cost well over $2 per gallon in constant dollars.
*In the late 1990s, gasoline was the cheapest in history!
* The muscle car boom of the late 70s happened when gas was high (in the $1.40 per gallon range).
As for doomday senarios regarding high performance cars and fuel prices, historically that simply is not true. Performance cars died out before fuel prices went crazy in the 70s, and actually did not do well at all when gasoline was the cheapest. During the "Muscle car' 60s, gas averaged the equivlent of $1.60 per gallon ($1.80 in 1960!).
If anything, the price will make people think twice about getting SUVs & Trucks. But, if you actually think about it, a 50 cent increase is only $7 per tank if you hold 15 gallons. If someone is spending $30,000 or more for a vehicle, it's NOT going to really effect them. If you have a Neon or something with a 10 gallon tank, it's $5 per tank. Is anyone really going to be effected by that? That's cheaper than 2 coffees at Starbucks!
So if you are going to get bent over anything, be bent that Oil Companies are fleecing you. At least if the goverment had put a 50 cent per gallon tax in it, at least it would have benefitted more people than the very rich few who are pocketing the money now.
For a quick lesson on inflation:
http://www.agweb.okstate.edu/pearl/a...farm/f-220.pdf
All I might add to that is that Oil companies have greatly improved their operating efficiencies and transportation methods (which is most of the consumer cost BTW) over the last 2 decades, thereby enabling them to get their product to YOU cheaper and more effectively to boot. Imagine how far technology has come in controls, processing technology, and distribution methods in the last 15-20 years. We KNOW they can process fuels much cheaper now than they did then. Again, pointing the finger to CORPORATE GREED and GOUGING.
Another point guionM may have omitted is that there is typically something on the order of a 3-6 months of supply in the production "pipeline", meaning that the gas we have in our cars today was likely refined and distributed LAST YEAR. So just because oil goes up $2/barrel today doesn't mean that pump prices should go up today too. The crude oil doesn't get from the oil rig to your tank in a day...
My company uses over 1-million gallons of nat-gas a month firing glass furnaces, and we also have 18 to 20 tanks of LPG @ 30,000 gals each on every plant site to use as back-up in case nat-gas lines break, etc. (HERE is an aerial of one of our plants. Look at the top-right corner for the LP tanks!) I have heard too many times that the providers build up their stocks in anticipation of winter needs (buying at cheap summer rates to build stock), then ramp-up the prices when the demand is high. They have even negotiated with us to use the LPG from our tanks if local need/demand for LPG exceeds supply - they are basically using us as a storage facility too in return for price breaks! I can see getting paid to maintain inventory, storage facilities, etc, but dayum! Call it what you want, I call it CROOKED!
Just wait for ADM to reintroduce "gasahol" with the ethanol additive...
Last edited by ProudPony; Mar 14, 2003 at 12:04 PM.
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Joined: Mar 2002
Posts: 499
From: Miami, Fl USA
I'm not sure how many of you read news about happenings in South America but Venezuela's leadership is on the verge of declaring themselves communist. There has been a bitter internal struggle to try and oust the President before this happens.
As a result, there was a 60 day general strike where nobody went to work. This strike ended in mid February. The only people who remain on strike is PDVSA, the parent company of Citgo, which is government owned.
PDVSA hasn't produced any oil since December.
16% of our nation's oil comes from PDVSA.
As a result, there was a 60 day general strike where nobody went to work. This strike ended in mid February. The only people who remain on strike is PDVSA, the parent company of Citgo, which is government owned.
PDVSA hasn't produced any oil since December.
16% of our nation's oil comes from PDVSA.
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Joined: Mar 2002
Posts: 3,180
From: Yadkinville, NC USA
Originally posted by Ed 2001 SS
I'm not sure how many of you read news about happenings in South America but Venezuela's leadership is on the verge of declaring themselves communist. There has been a bitter internal struggle to try and oust the President before this happens.
As a result, there was a 60 day general strike where nobody went to work. This strike ended in mid February. The only people who remain on strike is PDVSA, the parent company of Citgo, which is government owned.
PDVSA hasn't produced any oil since December.
16% of our nation's oil comes from PDVSA.
I'm not sure how many of you read news about happenings in South America but Venezuela's leadership is on the verge of declaring themselves communist. There has been a bitter internal struggle to try and oust the President before this happens.
As a result, there was a 60 day general strike where nobody went to work. This strike ended in mid February. The only people who remain on strike is PDVSA, the parent company of Citgo, which is government owned.
PDVSA hasn't produced any oil since December.
16% of our nation's oil comes from PDVSA.
I was unaware that the stike down there was ordered secretly by the GOVERNMENT, not voluntarily done by the workers!!!
Speculation is that they are trying to leverage for US aid as well as reformation of their government (as you mentioned).
Registered User
Joined: Mar 2002
Posts: 499
From: Miami, Fl USA
Originally posted by ProudPony
ABC News radio did a piece on this yesterday.
I was unaware that the stike down there was ordered secretly by the GOVERNMENT, not voluntarily done by the workers!!!
Speculation is that they are trying to leverage for US aid as well as reformation of their government (as you mentioned).
ABC News radio did a piece on this yesterday.
I was unaware that the stike down there was ordered secretly by the GOVERNMENT, not voluntarily done by the workers!!!
Speculation is that they are trying to leverage for US aid as well as reformation of their government (as you mentioned).
Registered User
Joined: Mar 2002
Posts: 499
From: Miami, Fl USA
Originally posted by Chris 96 WS6
Good post Ed, I had fogotten all about the Venezuela situation. I wasn't aware that the strike was over either (well except for Citgo).
Good post Ed, I had fogotten all about the Venezuela situation. I wasn't aware that the strike was over either (well except for Citgo).
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Joined: Mar 2002
Posts: 145
From: Halifax, Nova Scotia
I understood that the workers were back to work, but that the real problem was that the wells were not shut down properly and there were significant concerns about the quality of their oil as a result of this .....
Ted
Ted
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Joined: Mar 2002
Posts: 499
From: Miami, Fl USA
Originally posted by Ted 99 TA WS6 Conv
I understood that the workers were back to work, but that the real problem was that the wells were not shut down properly and there were significant concerns about the quality of their oil as a result of this .....
Ted
I understood that the workers were back to work, but that the real problem was that the wells were not shut down properly and there were significant concerns about the quality of their oil as a result of this .....
Ted
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Joined: Mar 2002
Posts: 4,254
From: Darien, IL, usa (Chicago W.Suburbs)
I was the person who started another thread just trying to compare gas prices across the states...Although I do realize that everything that you are saying is correct about gas prices being gouged and that it really isn't bad, I know I'm still feeling the impact and am perterbed by it. In retrospect, knowing what other coutnries pay for gas, we probably should be counting our blessings.