Despite the most recent round of fuss that we were bound to finally break $4/gallon someday soon, West Seattle gas prices have been on the decline again. Tonight, we spotted two places below $3 for a gallon of regular unleaded — the Admiral/California Chevron (photo left) and the Delridge Arco. That’s 13 cents below the current Seattle average.
I walked by there this evening on my way to Circa, and was totally surprised…hopefully a sign of things to come?
hopefully a sign of things to come?
Not with oil fluctuating between $90-100 per barrel, and refineries soon having to switch over and make the expensive ‘summer blend’.
OP…I hear ya…when we walked by there last night we started to reminisce (sp?) about not too long ago when we could remember shaking our heads when the prices went over 2 bucks….never again. They’re just teasing us then? The calm before the storm? hehehe
When George Bush took office, a barrel of oil cost $25.00.
seattle golfer:
Let me guess: GWB and Cheney (via Halliburton, of course) manipulated the market (explain how) so that the price of oil would not only shoot gas prices through the roof, but every day goods like food (seen the price of pork lately?) just so he could line the pockets of the Oil Lobby. Close, aren’t I?
The price of oil tripled under Prez. Jimmy Carter, and we don’t hear anybody attempting to imply some nefarious manipulating of the market, which be next to impossible.
Look, the price of oil has to do with supply and demand. And right now, China and India are demanding the heck out of the stuff, as are other countries, including us and Europe. Add that on top of what it costs oil companies just to insure the safe transport of oil from one place to the next (roughly 55-60% the cost per barely, so if oil is $100 per barrel, think about $60 of that is going toward insuring its safe transport). Why? Because many of the world’s oil-producing countries are highly unstable (Nigeria, Iraq, Angola) or have unstable and dangerous leaders (Venezuela and Iran), this contributes greatly to the price per barrel. We get the majority of our oil from Canada, Saudi Arabia, Mexico, Venezuela and Nigeria, in that order (I’ll provide the link). The il companies have to protect the wells and overseas refineries from the thugs, terrorists and revolutionaries in those countries who seek to control and disrupt the world’s economy. There are other factors, too. Such as our reserves (which our currently not at desirable levels); oil-field production is down while demand is high, that drives up prices; fewer refineries here and abroad slow down production thus driving demand; specialized blends of gases to meet gov’t regulations drive up prices; litigation from enviro-groups. Those are just a few of the many, many reasons why oil is so high. But little, if any of it has to do with who is President of the United States. It just isn’t that simple, folks.
I think what makes me chuckle is when people say “Reduce our dependence on foreign oil!” this is meant to imply/infer “Get our oil interests out of the Middle East”. As you can see, 2 out of our top top 3 suppliers come from Canada (#1) and Mexico (#3). So basically what they’re saying “Let’s screw Canada!” LOL. So much for being neighborly!
I suffered through one Economics class in college and didn’t do well, so the oil industry isn’t that easy for me to understand. I think most people that buy gas have to question the high prices when the newspapers report record breaking profits for oil companies. OP, I understand the problems the oil companies face in terms of dealing with unstable countries, but can’t understand the profits the oil companies are able to earn under such conditions. If you can explain that (if it doesn’t take too much time), I’d love to know because it’s pretty amazing. I have adjusted to the $3.00+ prices, so I’m just curious at this point on the economics.
I guess that’s why were building a great wall around us?
If you can explain that (if it doesn’t take too much time), I’d love to know because it’s pretty amazing.
Would love to, but it’s an extremely complex topic. I don’t think WSB would appreciate me hogging/hijacking the thread. ;-) Besides, my wife’s the one with Masters in economics, she would be much better at explaining it. But like I said, it boils down to supply and demand; the lower the supply, the greater the demand, the greater the profits.
OP:
Duh on the economic lesson. Worked for Chesapeake and Devon in OKC. Can’t change the 2002 price of oil at $25 a barrel but I learned tolerence when presented with facts instead of challenging facts to fit my anticipated outcome through education.
I learned tolerence when presented with facts…
And what exactly are you trying to assert with the presentation of your fact (oil being $25 when Bush came into office), seattlegolfer? Yes, it’s true. So? What’s your point?
What do tolerance and facts have to do with one another? Facts are facts. I’m not being “intolerant” of your fact. I’m questioning the intent and meaning behind it.
Yes, I was being a tad dismissive and sarcastic in my response because, well, I have a pretty good idea where you were going with it.
…instead of challenging facts to fit my anticipated outcome through education
This is borders on incoherent gobbly-goo and needs a better explanation before I’ll even consider responding.
Sorry, comment time is over.
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