megatanman

The Saudis can produce 12 million barrels per day.

The U.S.A consumes 20 million barrels per day.

I would say the demand is higher than the supply.Its simple math unity.

We as a country consume 25% of the oil pumped out of the ground globally in a day.

You keep talking that the speculators are driving the price up,honestly theres nothing you can do about it.Thats how they make there money,you make your money on tanning,they make it on oil futures.

What do you want to do,tell them they can no longer make a living?It would go against everything this country was founded on.

Drilling will definitely drive the price down a bit,but for how long?We are not the only country burning up th oil supply.These third world countries are gobblin up more and more everyday.

The global price for oil is up,theres not much anyone can do that will change that,but drilling and the ability to sell off some reserves will possibly strehgthen our economy.

engfant

"What do you want to do,tell them they can no longer make a living?It would go against everything this country was founded on"

Oh no don't even pull that ****. Founded on???? What's the Patriot Act again? A GET OUT OF FOLLOWING THE CONSTITUTION FREE act.

As for demand, the USA is at PEAK DEMAND right now. it's DROPPING not CLIMBING.

Bush opened the doors to OPEC and is allowing them to gouge his country dry and you people will do everything to avoid that FACT.

FACT, no matter WHO gets into office the gas prices will GO DOWN HARD cause Bush is allowing this to happen.

He's bailing out homeowners cause it helps HIS cause. The continued GOUGING OF HIS COUNTRY AT ANY COST TILL THE VERY END.

There's a reason why there's more political debating going on in these forums than the actual candidates. IT DOESN'T MATTER THAT'S WHY. Bush is a screaming **** up and ANYONE will be a totally different story when he's gone. WHO KNOWS what's going to happen. We've been on hold for 8 years. People are to the point of TOTAL MELTDOWN and don't have time to care.

That's all folks.

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megatanman

The ignorance of some of you amazes me.You act like the USA is the only country in this world that uses oil.

Who are you going to blame egg when there is no reduction in gas prices after the election?

I seriously would like to know who you will blame,who will be your scape goat egg?The previous president?The war in Iraq?

C'mon egg,give me something I can hold you to in 5 months.Anything.

I will say it again "Free Market"

unity

Simple math? Ya, if your dumb enough to assume we ONLY get oil from the middle-east. Canada is our biggest supplier by far. If your going to do math, use the right "numbers".

And FYI, out reserves have grown more than expected. That is a direct sign that demand is down.

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megatanman

We obviously can't get all of our oil from the Saudis,as I noted,we(USA)consume 20 million bbl a day.

Saudis only produce 12 million.Did you think I was under the assumption that we were on backorder with them?Sometime I think you have half a brain.

Saudis are the largest producers by far and they cannot even keep up with our demands.That should tell you something.

Look at every other country in the world Unity,they are all struggling with the prices of oil.We are not the only ones hurting.

The USA DOES NOT REGULATE THE WORLDS OIL SUPPLY!Whats wrong with you people?Im starting to think you and egg are the same people.



Canada produces approx 3-4 million bbls a day and consumes 2.5 million bbls

That leaves the USA a whopping 1.5 million bbls.Not going to put much of a dent in our requirements.

Do a little more digging Unity.

unity

You should read what you right some time. You first assert that the US consumes 20 million barrels a day and that the Saudis produce 12 million and then proceed to use that to explain prices based on supply and demand? Sometimes I know you have half a brain to think so narrow.

I stand by what I said. There is a SURPLUS of oil and has been for a LONG time. Reserves are up. One of our biggest suppliers is NOT the Saudis, but Canada actually supplies more. US demand is DOWN and has been going down the last couple of months. This is ALL basic news which you seem to miss.

You vapid rational of prices based only on supply and demand is frightening.

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megatanman

Guess that 1.5 million bbls a day adds up.I stand corrected.

So please explain why the global oil price is so high???

If it is due to all the speculators as you suggest,how do you think a new US president is going to change things???On a global scale?

Our current surplus is something like 22,000,000,000.bbls.

The saudis is like 260,000,000,000bbls.

You cannot tap into the reserves,you never know when we may need it,but we can always start drilling for more.

I never said that the Saudis were our biggest suppliers,only that they were the biggest producers.

unity

You answered yourself really. You know the facts. Lets simplify things:

1. The US is the biggest consumer of oil.
2. The US markets are thus the biggest and have a lot of swing on other markets.
3. Speculators are buy and sell on futures. Its a form of legalized gambling.

So if we get a president, McCain or Obama, who fix the holes that allow the biggest kid on the block to bet on futures. What do you think would happen on a global scale? The betting would end and the futures market would crash.

I am not saying $1 a gallon gas or anything like that. But it would be a HUGE adjustment just like the housing market is going through. The US has a bigger impact on global economics than you realize. Its time for the gas bubble to burst and really, it may do so on its own.

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megatanman

Honestly,it doesn't matter to me.Gas prices at 2.00 or 4.00.

I made adjustments to my pricing to offset the additional costs to live my lifestyle the same as I always have.

I still drive a gas guzzling SUV.

I still burn 200 bucks every weekend to ride/race my atvs and dirtbikes.

The rise in gas prices have not affected my lifestyle one bit.

Why,because I push the cost off to the tanner.

Now if I was some working class stiff,I might be angry that gas prices have curbed my lifestyle,but I am a business owner and I will still do what I love to do at the expense of my customers.Thats why I spend 80 hrs a week here.

If you have not made any adjustments to your pricing to compensate for the additional burden the gas prices have imposed on your lifestyle,then its your own dang fault.There is a huge window of oppertunity,some people chose not to step through it and now they are *****in.

megatanman

So your suggesting a form of socialism or communism is the answer?

How about they eliminate the whole EFT thing while there at it,you know,cause its unfair to charge someone if they don't use their memberships.How about they close that hole?

Listen to what your suggesting.Everyone has a right to earn a living,day trader or ditch digger.