Oil Closes at $100 per barrel...It's a new record! (1 Viewer)

[DadsDream]

$2.97 at the Chevron around the corner and the Shell across the street.

I filled up at Sam's last week for $2.72.

Same two gas stations today...$3.07 and $3.09.

 

[1yearOlder]

I guess you'll be getting your $600 stimulus right about the time to fill'er up .

 

[Shockmo]

I'm hopin' to fill er up for less than $600, but then I am a smooth talker.

Also of note: Will this have an impact on the price of baby oil?

 

[Jimbo]

It's stupid. We need regulation. We regulate electricity, why not gasoline? IMHO, the federal gov't got us in this, they need to bail us out whether it be subsidizing hybrids, regulation of gas prices or whatever. To heck with big oil's concerns about profittability, it's inherently built in to the system.

I just can't get a warm fuzzy over this since oil companies are breaking profit records every quarter, we are being taken to the cleaners as a nation.

 

[Shockmo]

Aren't they breaking profit "dollar" records, not profit "margin" records?

 

[Jimbo]

Hmm..

With BP, Exxon-Mobil, and Shell reporting record profits, the Tax Foundation reminds us in its latest Fiscal Fact that the biggest beneficiaries of gasoline sales are federal and state governments, not the oil industry:
link:
http://taxprof.typepad.com/taxprof_blog/2005/10/gas_taxes_excee.html

I'm beginning to feel like this all really IS a conspiracy

 

[rob021275]

I'm holding out hope that the whole "election year" scenario plays out.

You know -- the one that says gas prices always come down in an election year?

I'll admit that I'm not holding out much hope though.

 

[wyrmer]

most of that difference is taxes.

True.. about 60% of the price is taxes.

 

[staphory]

Also of note: Will this have an impact on the price of baby oil?

Nope. Babies are a renewable resource.