P2P-Zone - oil & gas prices???

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telefunkin_u47

24-07-04 11:48 PM

oil & gas prices???

does anyone know what factors cause the gas prices to rise and/or decline so frequently?

RDixon

25-07-04 05:33 AM

Not sure about the sudden lowering of the prices as I've never seen that happen but as for rapid rising of gas prices:

Well it seems the best way to make that happen is to elect an oil man to the White House.

Mazer

25-07-04 11:17 PM

I can't say I know what affects gas prices, but I guess it boils down to supply and demand. Getting oil out of the ground is fairly easy, refining it and producing gasoline is the hard (i.e. expensive) part. Refineries in the US have been closing over the years, so instead of importing crude and refining it ourselves, we import refined gasoline which naturally costs more than the homemade stuff. You look at European countries that have no oil production whatsoever and their gas costs more than $5 a gallon, while over here we produce less than half our own gas so the price stays below $3.

Personally I think people should convert their cars to natural gas. It comes out of the ground ready to use so it's way cheaper and it burns cleaner too. But then I also think cars should use gas turbine engines instead of internal combustion, so maybe I'm just crazy. :hmm:

tafkaMr.E

26-07-04 08:18 AM

Quote:

Originally Posted by Mazer

Personally I think people should convert their cars to natural gas. It comes out of the ground ready to use so it's way cheaper and it burns cleaner too. But then I also think cars should use gas turbine engines instead of internal combustion, so maybe I'm just crazy. :hmm:

Or maybe vegetable oil?

miss_silver

26-07-04 08:34 AM

Quote:

Originally Posted by tafkaMr.E

Or maybe vegetable oil?

HEMP OIL, HEMP OIL, HEMP OIL... quick and cheap to produce. With the rest of the hemp plant, you can produce better, stronger quality paper, clothing... :ND:

JackSpratts

26-07-04 12:33 PM

Quote:

Originally Posted by miss_silver

HEMP OIL, HEMP OIL, HEMP OIL... quick and cheap to produce. :ND:

and the exhaust is so pleasing to the senses. :) :GU:

- js.

schmooky007

27-07-04 06:46 PM

what mazer said plus bottlenecks in north american refineries plus lower value of the US dollar plus the uncertainty of whether oil producers will be able to keep up with demand because of all the terror threats looming over iraq and saudi arabia. all of these factors contribute to higher fuel prices. here in canada fuel prices have returned to normal levels more or less. the average price is 68 cents per liter. 2 months ago it was over 90 cents and premium fuel was well over $1. in holland and france they pay $2 US a liter, or about $8 US per galon so obviously it's better here

multi

28-07-04 09:19 AM

Gas prices help Covington-based firm's earnings

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Quote:

Higher gasoline prices helped Covington-based Ashland Inc. double its profits this spring compared to a year ago, the company reported Monday.

Ashland reported net income of $161 million, or $2.26 per share, on revenues of nearly $2.2 billion in its fiscal third quarter, ended June 30. That compares to $70 million, or $1.01 per share, earned on revenues of $2.0 billion in the same quarter last year.

Of $292 million profit before taxes, more than two-thirds of it came from Marathon Ashland Petroleum (MAP), a gasoline refining and marketing joint venture with Marathon Oil. Ashland said high gasoline demand, coupled with higher prices and greater efficiencies at the refineries, helped boost operating earnings to $205 million in the third quarter, up from $100 million a year earlier.

Ashland has agreed to sell its stake in MAP to Marathon for $3 billion. The deal could close later this year. more

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