Talk about alot of oil....

[cjthor]

http://www.msnbc.msn.com/id/4943789/

Ok correct me if I am wrong. The numbers they are proposing will bring up the DAILY oil production to....
One billion, three hundred seventy five million barrels per day.... Hoooly sh*t man...That is a crazy load of cash for one day....at 40 bucks a barrel.....55 BILLION dollars a day.....FUK!

[masonholmes]

daaaang, and we're paying 8 quadbillion bux a gallon because

[MX3-Freak]

And as stated, the increased production will do nothing for pump prices; they are controlled by the conflict, demand, and refineries, not the crude coming from the ground.

<small>[ May 11, 2004, 12:37 AM: Message edited by: MX3-Freak ]</small>

[guyaverage]

Ok correct me if I am wrong. The numbers they are proposing will bring up the DAILY oil production to.... One billion, three hundred seventy five million barrels per day....

Whoa... recheck your math..PLEASE.... you are off by over 1,350,000,000 barrels of oil (about what my Rx7 leaked on I-75 between Cincinnati and Atlanta.....)

(FYI, divide the 1,500,000 daily production increase by .06 (6%, which is what they said the increase would be) to get daily production of c.25 million barrels a day.)

[cjthor]

Oops. What I mean was there is one billion three hundred seventy five million gallons....right? 55 gallons in a drum?

[guyaverage]

That would be slightly closer...

[13flat]

i dont get these price hikes...

that article mentioned prices jumping to $41 a barrel. isnt a barrel 55 gallons? if so that comes out to 75 cents a gallon!!! so why the hell am i paying $2.20 to put gas in my car???!!!?

WTF?!!?!

[lil_gary]

i dont get these price hikes...

that article mentioned prices jumping to $41 a barrel. isnt a barrel 55 gallons? if so that comes out to 75 cents a gallon!!! so why the hell am i paying $2.20 to put gas in my car???!!!?

WTF?!!?!

[atlantamx3]

Its called GAS TAXES by your Imperial Federal & State governments.

PLus, the gas companies have to pay for storage, shipping, people to work in the stores, electricity, etc.

[MX3-Freak]

As I said, the amount of crude being produced is not the problem. When refineries recieve the crude from their suppliers, they decide how what portion will be diesel/kereosene/home heating oil, and what portion gasoline. In this way they minipulate the market. During the summer, when peaople drive more, they will produce less gas, and more home heating oil. In the winter, when ppl drive less, they produce more gas and less home heating oil (to sock it to the people with oil heat). So truely why is it $2.20 at the pumps? 2 reasons: what I just said, and the rapidly growning asian market.

If I were you, I would expect around $3.50 a gallon to be the leveling out area...

[Custommx3]

Ive been told much of the gas price increase was because of cleaner burning additives for the enviornment, well... thats what the news said.

[Steeb]

theres always a new reason for the govt to hike up gas prices. opec pretty much makes the prices. i did a research paper on global warming and fossil fuels are only getting close to being only 5% of total used so there much more barrels of $oil$ waiting to be monopolized

[MX3-Freak]

Only 5% of the oil is used, fish in the sea are endless, and no limits to the forests that get cut....

<small>[ May 18, 2004, 08:42 PM: Message edited by: MX3-Freak ]</small>