Who do you blame for high gas prices? (poll)

[Dawgs]

Poll question: Who do you blame for high gas prices? (poll)

This poll is actually a duplicate of the one on the CNNfn site.

http://www.cnnfn.com

I found it interesting that they did not put "The conflicts in the Middle East" or "Politicians", which would be near the top of my list.

[MemphisTiger]

1. Oil companies

while the price is going up they are making record profits. I'm not saying they can't make money off their product, but when the world economy could be impacted, they shouldn't be making record profits.

[mike_c]

2. other-- petroleum addicted consumers are responsible....

We've all created a social fabric that is deeply rooted in energy consumption, and we take the --so far-- easy way out by depending on fossil fuels to provide that energy. Remember, the first step in most "12 step" programs is admitting the problem, and accepting personal responsibility for it.

[unblock]

3. blame? that makes it sound like it's a mistake. i give credit to shrub

and the gang, cheney in particular. they came into office with huge support from the domestic oil companies and their first major policy session what that mystery meeting about energy policy.

and what exactly have we seen of their energy policy? they whined a bit about building more refineries and drilling in the arctic, but basically, their entire energy policy has been to try to conquer oil-producing states, which has driven up prices, entirely predictably, to the extreme benefit of the domestic oil producers, whose costs stay the same but whose selling prices have well more than doubled.

this was their PLAN, folks. you don't "blame" someone for acheiving their plan, you give them credit for it.

instead, you blame them for coming up with an idiotic plan in the first place.

[1932]

4. When I say "oil companies" I mean the Rep. Party and the US Gov't.

All three are the same single entity.

[tx_dem41]

5. Other....consumers. n/t

[krkaufman]

11. Ditto. n/t

[GliderGuider]

6. Other.

I think this is one of the purest examples of the free market at work that we've seen in a long time. Supply and demand are in knife-edge balance. The notion of Peak Oil is percolating through into the traders' consciousness - the idea that everyone may be pumping as hard as they can, and they really can't get the oil out any faster. That means that any little hiccup on either the demand or supply side is going to send things out of whack, causing price spikes. That's a high-risk situation, so every barrel carries a risk premium.

Nobody is gouging, nobody is manipulating - it's a pure consensus market. Don't expect it to improve.

$0.02

[Dawgs]

7. If that is true, then why is OPEC refusing to release any info on...

it's production output and what they have in reserve?

I do agree that the high prices are the result of demand, but don't we also have to blame those that could have done something in the past? Why is gas mileage still as low as it was almost forty years ago?

[GliderGuider]

10. After reading "Twilight in the Desert" by Matt Simmons

I suspect the reason they're not releasing that information is that it would reveal far too much bad news about the real state of their oil industries, and how close to the edge they're running. They're all using the secrecy to enable them to play political games with their reserve statements and production promises - as happened in the US with Prince Bandar recently.

All the data out of the non-OPEC nations regarding the state of the existing large fields is worrying, so there's no reason to expect OPEC's story to be any better. Saudi Arabia has been running the taps wide open for much of the last 30 years, and Simmons believes they are close to irreversable declines in output. This is similar to what has already happened in the North Sea, Russia and the USA.

Why has fleet gas mileage not increased as much as it should have? Everybody in North America decided to believe that the oil supply was effectively infinite, and the government kept prices low by not taxing gasoline. The same cannot be said for Europe, where fleet mileage is about 50% higer than North America.

[rman]

14. OPEC: "sweet crude production has peaked"

Refinery expansions efforts needed to match evolving crude supply - Report
Vienna, 17/8/05
http://www.opec.org/home/Special%20Features/2005/Fea082005.htm

Refinery capacity expansion plans are needed in the major consuming regions to reflect the evolving quality of global crudes if efforts to moderate crude prices and reduce oil market volatility are to be effective, according to the OPEC Monthly Oil Market Report for August. The report highlights the fact that recent production trends have resulted in a global crude slate that is heavier and sourer. At the same time, the refining sector has been slow to not only expand to meet the increasing demand but also to adapt to the changes in crude quality. The resulting constraints in the downstream sector have become a major source of upward pressure on prices.

“The recent rise in crude oil prices to new record highs — triggered by a series of refinery outages that have aggravated downstream constraints along with increased geopolitical tensions — only highlights the pressing need to enact concrete measures that would encourage rapid and sizeable investments in the refining sector,” the report said. The report noted that it will take several years to deliver the projects needed to ease current bottlenecks and prepare the appropriate refining capacity to meet expected demand. “Any delays will only continue the current mismatch between the installed refinery capacity and crude type, and undermine OPEC efforts, and those of other producers, on the upstream side to reduce volatility in the oil market,” it added.
<more>

OPEC Monthly Oil Market Report Aug.05
http://www.opec.org/home/Monthly%20Oil%20Market%20Reports/2005/MR082005.htm


Also mentioned in the report:
"Brazilian oil supply is now expected to average 1.99 mb/d, a growth of 190,000 b/d versus 2004. The performance in the second quarter of 2005 was better than expected, with the two new deepwater fields (Barracuda and Caratinga) now reported to have reached peak production."

[GliderGuider]

19. Here's the graph that drives that point home

If they could produce more light sweet, they would. the fact that they're not, means they can't. Light sweet crude is the canary in this coal mine...

[jdlh8894]

8. Gas?

I know that it's taking a bite in the wallet now,but think about this -That styrofoam cup(along w/the plastic lid and straw)that you got your coffee in this morning is made from the same oil that gasoline is. Not to mention the jug where the milk that we put on our kid's cereal. I could list quite a few more, but I think you have the jist of it.

[GliderGuider]

16. Bingo. That's the real bummer about Peak Oil

Everything in our society is predicated on cheap hydrocarbons. Transportation, materials, fertilizers, drugs - all the miracles of the last 100 years are based on hydrocarbons. Oil and natural gas are what have made it possible for this blue ball to support 6 billion people instead of the 1 billion it supported before we tapped into this motherlode.

In discussions about oil replacements people often forget about the fact that oil has so many different capabilities that has become intrinsic to most aspects of our lives. That is what makes the possibility of declining supplies and ever-rising prices so ominous. The need for replacements for oil extend far beyond electricity and automobile fuel. If natural gas starts to deplete globally it will affect the fertilizer supply. That's the Green Revolution you're talking about. What happens to our species if the average cost of a calorie of food triples?

[ObaMania]

9. Other

- Shrub the enabler. Then the Oil Companies.

[Maru Kitteh]

12. I picked gas guzzlers, the closest available option to out of control

consumption of EVERYTHING in this country and our wasteful society.

Our INSANE demand has outpaced supply.

[rman]

13. other: peak oil

[mtnsnake]

15. Oil companies, Bush, Falwell, Robertson, & the rest of the fundies who

run our country

[Hobarticus]

17. Is it time for a 'national' oil company? n/t

[dogday]

18. Every Spring this happens. The Oil Companies

know what our usage is and should be able to supply us with the amount we need without raising the prices. But they don't, they know we are going to use the gas and pay the price. The gas companies could be stockpiling for the additional use period, but do they? No, that would cut into their profits.

[rman]

20. sure, oil hits $65/barrel every year