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Ford Motor Co. Message Board

  • Low_Mac Low_Mac Feb 27, 2012 2:08 PM Flag

    What Can US Do to Halt Rising Gas Prices? Not Much

    What has Obama done to effect gas prices?
    1. No drilling on the east coast.
    2. No drilling on the west coast.
    3. Stop drilling in the GOM.
    4. Stop drilling in Alaska.
    5. Stop the pipeline from Canada.
    6. Put sanctions on Iran.
    7. Stop the government from buying hybrid of electric cars.
    8. Stop the government from buying nat gas trucks.
    9. Push for the stop of subsidy for oil and they shutdown 3 refineries on the east coast.

    What we need now is for Obama to help us out some more by putting an addition tax on gas.

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    • But I do agree with your point that congress should increase the tax on gasoline.

      There is a conflict of interest with the oil companies. All the majors have a great stake in the new sources coming from the tar-oil of Canada and our new fields opening up.

      The old refineries they shuttered on the east coast refined the sweet stuff from mid-east and europe. Where 80% could be refined into useful fuel. Versus the crud coming from the America's that could only turn 46%.

      The $30 price difference between sweet and sour meant it was still profitable to buy the sweet. Although the sour could be made more profitable by using the crud at the bottom of the barrel to sell plastics,etc. America could become the plastics capitol of the world. (if we don't plan to sell it overseas).

      The oil majors made $137-B profit last year and this year expect to make over $200-B. You would think they would raze the old refineries and build to handle the new crud.

      Refineries have a problem. 70% of the oil bought on the world market are bought by investment banks and other speculators. A barrel of oil in transit could change hands up to 300 times before it got to a refinery. Refineries get loans from banks. Banks get a heads up on whose buying and are able to get to the oil fields faster. So in the end the speculators win.

      Congress could change all of that by creating new laws. But would the banks, bank such legislators. The finance industry has 25X more lobbyists than all the other lobbyists combined.

      When they use the press to sound out $5 gas, it means they either want an op-ed opinion or they are warning you of how things are going to be. This nation of 300+million people is of little consequence to them. The only persons who count are the few. Sure congress could rehabilitate itself and change the laws to make the SCOTUS decision on "persons" moot. But will they.?

    • Perhaps if you read the news on yahoo-financial page you would have a better understanding of what's really driving up the price of oil/gasoline. and you wouldn't be posting uncorroborated opinions.

      But since this is an election year, don't let the facts get in your way.

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