RobinM2010
Rookie Author
Pennsylvania
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Message Posted: May 5, 2010 10:43:09 AM
At $60.00 to $70.00 a barrel, it appears that everyone is making a tidy profit and the consumer is able to handle their heating and gasoline costs. The oil companies report fabulous profits at this rate per barrel.
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Muradia
Champion Author
Toronto
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Message Posted: May 5, 2010 10:10:37 AM
$40
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rayk
Champion Author
Twin Cities
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Message Posted: May 5, 2010 9:52:55 AM
Its America "fair" is the highest price you can get. It is how every other business works. If they could charge more they would.
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stillapourman
Sophomore Author
Ohio
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Message Posted: May 5, 2010 9:32:01 AM
Have a feeling that you are going to pay what they want you to, we have no choice, just have to gut it out.
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StillTooHigh1
All-Star Author
Michigan
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Points:906,700
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Message Posted: May 5, 2010 9:29:07 AM
It doesn't matter what we think. They are predicting $4 a gallon gas already. Their high predictions always seem to some true - so here we go again!!
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PKVol
Champion Author
Nashville
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Message Posted: May 5, 2010 9:15:16 AM
Who are the 150 or so idiots who've voted already who think $140 or more is a fair price?
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pkhdonovan
Champion Author
Maine
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Message Posted: May 5, 2010 8:25:48 AM
I have no opinion on this topic.
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keo
Champion Author
Colorado
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Message Posted: May 5, 2010 7:54:41 AM
I'll pick 60 though it's all a mess, since it's anyone's guess. We are all just helpless spectators at the mercy of the speculators.
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Lengas
Champion Author
Gary
Posts:13,550
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Message Posted: May 5, 2010 7:52:46 AM
$40/barrel to fight greed
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1cheapgasin
Champion Author
Indianapolis
Posts:5,564
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Message Posted: May 5, 2010 7:39:02 AM
$60 is a fair price but greed will always win!!!!
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N9HVP
Champion Author
Indiana
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Message Posted: May 5, 2010 7:31:54 AM
$20 or less.
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dongo50
Champion Author
West Virginia
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Message Posted: May 5, 2010 6:22:05 AM
it's like everything else was, is and always will be! whatever people will pay. people are so into their cars and puttin around, they would probably pay $50/gallon of gas, who cares what oil costs?
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tsmith35
Rookie Author
Kansas City
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Message Posted: May 5, 2010 6:11:57 AM
The results of this poll are pretty predictable. It's like asking kids whether they want more candy or less.
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bugc
Champion Author
Boston
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Message Posted: May 5, 2010 6:03:39 AM
Price should be determined by cost of production, not be arbitrarily determined.
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toebitus
Rookie Author
Atlanta
Posts:54
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Message Posted: May 5, 2010 5:48:47 AM
if you don t own your own business nothing is fair,the US pays too much for everything
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Bonanza
Champion Author
Boston
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Message Posted: May 5, 2010 5:24:15 AM
Much less than $20
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J Eric
Champion Author
Los Angeles
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Message Posted: May 5, 2010 3:35:03 AM
I was about to guess $60 (which I think is the consensus) but with inflation/devaluation of the US dollar, probably $75-80 is a closer estimate. If anyone in the audience has a Barrel of Oil in his or her pocket...c'mon down!! Let's make a deal!
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StormingDave
Rookie Author
Kansas City
Posts:2
Points:2,140
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Message Posted: May 5, 2010 3:21:28 AM
Since there seems to be 210,000 gallons per day spilling into the Gulf of Mexico, it appears to plenty of oil, going to waste at the moment. One year ago the price att he pump here in Kansas City averaged 1.939, as of 2 a.m. this morning its 2.799. Looks like the consumer is going to get stuck with the bill to clean up BP's mess. So I think its just a means to justify raising crude prices to keep shareholders happy and to escape the responsibility of the gulf incident.
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dieselfreaks
Rookie Author
Washington
Posts:10
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Message Posted: May 5, 2010 12:10:52 AM
There is 30% speculation in oil do the math 50-60 is the real price. Does everybody know that jp morgan and goldmen sachs look as large as oil company's with there holdings in oil, gas and storage. We need to regulate the commodities or we will be back at 150 a barrel.
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gasaholicNC
Champion Author
North Carolina
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Message Posted: May 4, 2010 11:56:56 PM
$60
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CPGas1815
Champion Author
Michigan
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Message Posted: May 4, 2010 9:38:27 PM
I see that gas prices in my my town increased yet again today. Prices have increased 14 cents during the past 7 days. Since my last fill up about 10 days ago, gas prices have increased a whopping 18 cents!
Unfortunately, this is only an ominous sign of that which is yet to come. Considerably more GAS PAIN will be experienced in the weeks and months to come. The BP disaster in the Gulf will create long lasting effects that will exert inflationary influence on market prices throughout the summer.
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LongPlay
Champion Author
Albuquerque
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Message Posted: May 4, 2010 8:46:38 PM
A fair price depends on supply and demand. A higher price will allow development of more expensive sources. The cheap sources are rapidly being used.
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dks2000
Veteran Author
Houston
Posts:276
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Message Posted: May 4, 2010 8:13:12 PM
Oil will be whatever it is. A fair price is what people are willing to pay and what people are willing to sell for. I don't think this survey has a lot of merit. Maybe a better question would be - At what gas price will you change your driving habits?
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zacksnanny
Champion Author
New Brunswick
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Message Posted: May 4, 2010 8:03:38 PM
No opinion
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OKRifle
Champion Author
Oklahoma City
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Message Posted: May 4, 2010 7:55:29 PM
If what IndplsGuy reports is true, we need to NUC N Korea NOW!!!!!!
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IndplsGuy
Rookie Author
Indianapolis
Posts:34
Points:207,960
Joined:Dec 2004
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Message Posted: May 4, 2010 7:02:15 PM
Want to know more about what happened to BP's Oil Platform in the gulf of Mexico?! (Hint: The media is not telling you the truth.)
++++++++
US Orders News Blackout Over North Korean Torpedoing Of Gulf Of Mexico Oil Rig.
___
A grim report circulating in the Russian Kremlin on May 1, 2010 written by Russia’s Northern Fleet# is reporting that the United States has ordered a complete media blackout over North Korea’s torpedoing of the giant Deepwater Horizon oil platform owned by the World’s largest offshore drilling contractor Transocean# that was built and financed by South Korea’s Hyundai Heavy Industries# Co. Ltd., that has caused great loss of life, untold billions in economic damage to the South Korean economy, and an environmental catastrophe to the United States.
Most important to understand about this latest attack by North Korea against its South Korean enemy is that under the existing “laws of war#” it was a permissible action as they remain in a state of war against each other due to South Korea’s refusal to sign# the 1953 Armistice ending the Korean War#.
To the attack itself, these reports continue, the North Korean “cargo vessel” Dai Hong Dan# believed to be staffed by 17th Sniper Corps “suicide” troops# left Cuba’s Empresa Terminales Mambisas de La Habana# (Port of Havana) on April 18th whereupon it “severely deviated” from its intended course for Venezuela’s Puerto Cabello# bringing it to within 209 kilometers (130 miles) of the Deepwater Horizon oil platform which was located 80 kilometers (50 miles) off the coast of the US State of Louisiana where it launched an SSC Sang-o Class Mini Submarine#,# (Yugo class) estimated to have an operational range of 321 kilometers (200 miles).
On the night of April 20th the North Korean Mini Submarine manned by these “suicidal” 17th Sniper Corps soldiers attacked the Deepwater Horizon with what are believed to be 2 incendiary torpedoes causing a massive explosion# and resulting in 11 workers on this giant oil rig being killed outright. Barely 48 hours later, on April 22nd , this North Korean Mini Submarine committed its final atrocity by exploding itself directly beneath the Deepwater Horizon causing this $1 Billion oil rig to sink beneath the seas and marking 2010’s celebration of Earth Day# with one of the largest environmental catastrophes our World has ever seen.
+++++
Go to the site below for full details.
*****
US Orders News Blackout Over North Korean
Torpedoing Of Gulf Of Mexico BP Oil Rig.
http://www.whatdoesitmean.com/index1367.htm
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chui
Champion Author
Dallas
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Points:2,367,095
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Message Posted: May 4, 2010 7:00:37 PM
I, would say around $ 100.00 per. bar.
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IndplsGuy
Rookie Author
Indianapolis
Posts:34
Points:207,960
Joined:Dec 2004
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Message Posted: May 4, 2010 6:53:21 PM
The U.S. has "Plenty" of oil within the lower 48 states to supply all it's needs and when Alaskan oil is included, the USA can be an oil exporter like other countries. We actually have that muck oil! Read the following information below and go to the websites listed at the end of the report.
+++++++++++++
Peak Oil Lie - US Has Gigantic Oil Reserves
Quoted From Various Sources...
February 25, 2009
The U.S. Geological Service issued a report in April 2008 that only scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and extreme eastern Montana...
The Bakken is the largest domestic oil discovery since Alaska 's Prudhoe Bay, and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable...at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.
"When I first briefed legislators on this, you could practically see their jaws hit the floor. They had no idea." says Terry Johnson, the Montana Legislature's financial analyst.
"This sizable find is now the highest-producing onshore oil field found in the past 56 years." reports, The Pittsburgh Post Gazette. It's a formation known as the Williston Basin, but is more commonly referred to as the 'Bakken.' And it stretches from Northern Montana, through North Dakota and into Canada. For years, U. S. oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough [2008] has opened up the Bakken's massive reserves.... and we now have access of up to 500 billion barrels. And because this is light, sweet crude oil, those billions of barrels will cost Americans just $16 PER BARREL!
That's enough crude to fully fuel the American economy for 41 years straight.
2. And if THAT didn't throw you on the floor, then this next one should - because it's from 2006!
U.S. Oil Discovery - Largest Reserve In The World!
Stansberry Report Online
April 20, 2006
Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted.
With this motherload of oil, the largest in the world located right here in the USA, why are we still fighting over off-shore drilling?
They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on earth. Here are the official estimates:
8 times as much oil as Saudi Arabia!
18 times as much oil as Iraq!
21 times as much oil as Kuwait!
22 times as much oil as Iran!
500 times as much oil as Yemen!
and it's all right here in the Western United States.
HOW can this BE?
HOW can we NOT BE extracting this?
Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy....WHY?
James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East - more than 2 TRILLION barrels untapped. That's more than all the proven oil reserves of crude oil in the world today, reports The Denver Post.
Don't think 'OPEC' will drop its price - even with this find? Think again! It's all about the competitive marketplace, - it has to. Think OPEC just might be funding the environmentalists?
Got your attention/ire up yet? Hope so. Now, while you're thinking about it .... and hopefully angry, do this:
3. Pass this along. If you don't take a little time to do this, then you should stifle yourself the next time you want to complain about gas prices .. because by doing NOTHING, you've forfeited your right to complain.
Want the hard data? Go here...
http://www.usgs.gov/newsroom/article.asp?ID=1911
http://www.rense.com/general85/peak.htm
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frogmankid
Sophomore Author
Winnipeg
Posts:214
Points:50,340
Joined:Aug 2003
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Message Posted: May 4, 2010 6:50:00 PM
I would like to see it at around $60 per barrel. but I would take 40
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CrackedLCD
Champion Author
Alabama
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Message Posted: May 4, 2010 6:46:14 PM
"Fair" is entirely subjective.
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Lookingood
All-Star Author
Alberta
Posts:627
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Message Posted: May 4, 2010 6:00:15 PM
I would like to see it at around $60 per barrel.
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CPGas1815
Champion Author
Michigan
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Message Posted: May 4, 2010 5:45:12 PM
My oh my! There is quite a heated discussion under way. Its enjoyable to read the back and forth between some of the frequent and most vocal bloggers. I do however find it odd that little is being discussed by that which occurred today in the commodity markets. The Commodity Exchange price of gasoline plummeted more that 10 cents today. Its about time that the speculators and oil brokers had the ears trimmed. Lets hope this downward trend continues. But I suspect that market prices will quickly rebound and continue to escalate for many months to come.
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Mrs_PoohBear
Rookie Author
Riverside
Posts:37
Points:39,515
Joined:Oct 2008
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Message Posted: May 4, 2010 4:35:37 PM
Benign,
You are right that Venezuela and Iran subsidize gas prices for their citizens. Are you also aware that they base their national budgets on oil exports? The higher the price per barrel, the more money in the government coffers. It is entirely possible that they have agents purchasing oil on the spot market in an effort to bump up the price (now there's a conspiracy I might buy into!) so that they can bolster their national budget. Also, a couple of years ago at an OPEC meeting when the members were discussing cutting production, Chavez had the cojones to ask Saudi to take the entire cut AND THEN SOME so that Venezuela could acutally increase their output! The Saudis, who are the largest member of OPEC, picked up their marbles and went home until Venezuela backed down. Hmmm ...
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Mrs_PoohBear
Rookie Author
Riverside
Posts:37
Points:39,515
Joined:Oct 2008
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Message Posted: May 4, 2010 4:31:17 PM
Rjojo40, get off your soapbox, okay? Oil is traded like any other commodity. If you want the price of oil to go down, go "short" on oil futures in the spot market and try to force the price per barrel down that way.
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Mrs_PoohBear
Rookie Author
Riverside
Posts:37
Points:39,515
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Message Posted: May 4, 2010 4:29:53 PM
Rbgamble, Sorry to burst your conspiracy theory bubble, but politicans have no say in the price of oil. It really is market driven. Speculators will bet that the price will be higher in coming months (called "going long"), which will drive the price per barrel up. There was an interesting lesson learned by the refiners a couple of years back when they had to make good on the $147 contracts they bought but the price of gas was so low, they weren't recapturing even the cost of the oil itself, much less the refining costs. Too lengthly to go into on this forum, but I sure got a good laugh at their expense!
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Mrs_PoohBear
Rookie Author
Riverside
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Message Posted: May 4, 2010 4:27:39 PM
Focus2, if that's how you feel about gasoline consumption, what are you doing on this forum?
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Mrs_PoohBear
Rookie Author
Riverside
Posts:37
Points:39,515
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Message Posted: May 4, 2010 4:27:09 PM
Timid, I have to agree with a lot of what you said, but don't forget that oil is priced on the international market in US Dollars. As long as the dollar is weak (and believe me, with the current Congress and BO printing money faster than they can spend it, it's likely to remain so for some time to come), oil prices will remain relatively high.
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GrumpyCat
Champion Author
Alabama
Posts:2,611
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Message Posted: May 4, 2010 3:44:53 PM
I hate taxes but I would be in favor of a 100% tariff on imported crude oil for the price in excess of $40/barrel. That means the first $40 would be tax free but everything over that would be taxed 100%. At current $80/barrel the net cost would be $120. At $60/barrel it would "only" be $80.
The only way I would support such a tax is for the funds to be used for, and only for, the construction of the very facilities we use to consume said oil. Not for "alternative energy research". Build and maintain the darned roads! Build more roads! Reduce traffic congestion so as to consume less oil!
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jcool2525
Veteran Author
Los Angeles
Posts:284
Points:1,205,555
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Message Posted: May 4, 2010 3:30:14 PM
It really doesn't matter what the American driver thinks is a fair price. The oil companies will still charge whatever they like at the gas pump.
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DougtheEconMan
Champion Author
Akron
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Message Posted: May 4, 2010 3:23:35 PM
80 is the current market price, so it's fair.
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jfbrown42
Sophomore Author
Boston
Posts:150
Points:303,825
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Message Posted: May 4, 2010 3:03:28 PM
A "fair" price is whatever the market will bear, governed by the law of supply and demand.
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telephone_man13
All-Star Author
Columbia
Posts:629
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Message Posted: May 4, 2010 2:59:43 PM
Who said this would be a fair price?
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carrollcreek
Champion Author
Minnesota
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Message Posted: May 4, 2010 1:20:54 PM
$40 - $60 seems like a fair price. I think that oil itself, shouldn't be traded. It's okay to trade on the companies and determine their worth but oil should be like other commodities and have a more consistent price.
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TRT0
Veteran Author
Austin
Posts:286
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Message Posted: May 4, 2010 12:36:38 PM
How do you define fair? Of those listed by Webster (below) 6a is the best for the question but who is impartial to the cost of oil?
1 : pleasing to the eye or mind especially because of fresh, charming, or flawless quality
2 : superficially pleasing : specious <she trusted his fair promises>
3 a : clean, pure <fair sparkling water> b : clear, legible
4 : not stormy or foul : fine <fair weather>
5 : ample <a fair estate>
6 a : marked by impartiality and honesty : free from self-interest, prejudice, or favoritism <a very fair person to do business with> b (1) : conforming with the established rules : allowed (2) : consonant with merit or importance : due <a fair share> c : open to legitimate pursuit, attack, or ridicule <fair game>
7 a : promising, likely <in a fair way to win> b : favorable to a ship's course <a fair wind>
8 archaic : free of obstacles
9 : not dark <fair skin>
10 a : sufficient but not ample : adequate <a fair understanding of the work> b : moderately numerous, large, or significant <takes a fair amount of time>
11 : being such to the utmost : utter <a fair treat to watch him — New Republic>May be better to ask what is a reasonable price for a barrel of oil?
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N9HVP
Champion Author
Indiana
Posts:11,713
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Message Posted: May 4, 2010 12:29:38 PM
$20 or less.
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PhilE3
Champion Author
Philadelphia
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Message Posted: May 4, 2010 12:24:28 PM
Maybe 50 to 60 dollars.
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Telram
Rookie Author
Cleveland
Posts:1
Points:320
Joined:Nov 2009
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Message Posted: May 4, 2010 11:36:31 AM
At $40/bbl the oil companies make a huge profit
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xxrockitxx
Champion Author
Hartford
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Message Posted: May 4, 2010 11:25:56 AM
If you look at the reasoning for the constant price increases, every reason is un founded or inexcusable. Some of the common excuses are...
1. Supplies are down
2. Storms in a certain area
3. Cold weather
4. Vacation season
5. Cost of living
I don't seem to see prices lower considerably when people cut back.
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MikeMotorhead
All-Star Author
Detroit
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Message Posted: May 4, 2010 10:53:02 AM
Who said anything about fair?
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Peebo
Veteran Author
Baltimore
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Message Posted: May 4, 2010 10:49:35 AM
I think $50 - $65 is a fair range. When prices pushed above that more recently, and in the past, it was market speculation that was and is responsible.
[Edited by: Peebo at 5/4/2010 10:51:46 AM EST]
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BIGBOOTYJUDY
Rookie Author
St. Louis
Posts:40
Points:5,670
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Message Posted: May 4, 2010 10:44:05 AM
$25 a barrell is more than fair
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