Wonder why you're paying more at the pump?

[pscot]

http://www.msnbc.msn.com/id/29038306/

NEW YORK - The break embattled U.S. consumers have been getting at the gas pumps may be ending as refiners slash fuel production to improve sagging profits.

Retail gasoline prices have jumped 22 cents since early January to $1.91 a gallon and could top $2 a gallon in the coming weeks as refinery output cuts tighten up supplies, auto and travel group AAA said on Thursday.
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At least seven U.S. refiners have announced fuel production cuts as a result of weak profits stemming from softening demand, including Valero Energy Corp and ConocoPhillips -- the nation's two biggest fuel producers.As of the end of January, refiners were running their plants at just 82.5 percent of capacity -- four percentage points below last year, according to government figures.

"There is too much capacity to make gasoline in this environment," Valero Chief Executive Bill Klesse said last week. "If the industry doesn't balance supply with demand we will have negative margins as we had in December."

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"The oil industry is taking advantage of consumers and policy makers are doing nothing about it," said Mark Cooper, director of research at the Consumer Federation of America.(more)

[Duckhunter935]

1. Drill baby, drill

:sarcasm:

[tularetom]

2. Stupid move on their part

One thing we've discovered recently is that oil is NOT as inelastic a commodity as we once thought. Raise the price? You make more profit per gallon but you sell fewer gallons. Cut the price? Earn less profit per gallon but sell more gallons. As the overall economy tightens up people are finding ways to use less gas and they will find even more ways as the price increases.

[AndyA]

3. Regulate, baby, regulate.

Gas is a necessity until we find a way to get around without it.

Just like electricity, natural gas, etc., it should be regulated. It's obvious we can't trust companies to do the right thing. America is HURTING right now. Most businesses are LOWERING prices to try to get by, but not oil related businesses. Why? :shrug:

Regulate the f*ckers, they cannot be trusted. And where are those oil company investigations? ExxonMobil makes a fortune in profits again in a recession? How is that possible?

[WHEN CRABS ROAR]

4. Yeah, don't give new laid off workers a little break, stiff em.

[peacetalksforall]

5. Specifically, stiff the ones who have to drive to a job interview in a pursuit to keep their car..

And have to go back, if they're lucky, for a second or a third interview.

I notice that we didn't need any bailouts for the energy industry - is that a blessing or not?

Meanwhile, someone will be siphoning the gas out of the unsold cars in storage.

How does it feel to be the targets of schemers who are always looking at charts of numbers to determine how much they can get away with?

There may not be a summer high on prices to gouge the vacationers.

Isn't it amazing how respect for an industry can plummet and evaporate over time as we are abused.

[2Design]

6. they had record profits and are 'holding' up people - these a mean men