Question about Gas prices?

[Oilpatch197]

I understand we have a weak Dollar, is this the reason our prices at the pump is more? because the Dollar is at a all time low against foreign currentcy?

Causing a barrel from the Middle east that cost $10 now cost $20(assuming Inflation was the cause) because of the Low value of the dollar, and the companies are simply carrying the cost over to consumers?

[Oilpatch197]

Comon, this must be making sense, if we Import 40% of our Oil, then if we have a low valued dollar, compared to the Saudi, then we will pay more for a gallon of gas, if our dollar is weak compared to the other currenceies.

[antiquestuff]

Certainly has a role in it-but so too does China wanting more oil now. We really need to do something about our failing money-but no one wants to, cause those behind its failing get so much profit from the system. I say get rid of the Fed Reserve,etc. But what are the chances of it happening?

[jenzden]

What we really need to do is lessen our dependency on oil. So much can be done with solar, wind & water. Why aren't alternatives being used? MONEY! Big business won't be making big money anymore. Big business is what runs this world. Big Business has too much invested in the oil industry. I think the value of the dollar won't matter much longer - not in this 'global' market...

[Alex]

What if oil wasn't based on the USA dollar, then what? Say the Euro or the Saudi dollar. Then the dollar would go even lower, YIKES!

From another post of mine, you know, no one responded to these questions. Maybe they thought they were rhetorical, they're not: I have heard conflicting answers to most of them, and I have no direct personal proof of either view.

The Peak Oil group the says there is none left, the Other Big Oil group, says "the fundamentals are good," whatever that means. So who knows, oh well.

Do you know how much oil is left?

Do you know where it is in the world?

Do you know about alternative fuels, how to make them, or how to get them, or how long it will take to ramp up those new and unproven (or emerging )technologies, or how much it will cost to make a gallon?

Do you know where it is in the world?

Do you know the size of new oil finds compared to the previous oil finds?

Do you know what will happen if (when?) the world demand exceeds the world supply, by even a small amount?

Where does your food come from?

How do you get food from remote locations?

What happens when you have food and a lot of others do not?

Etc. etc.

Oh, yes, there are always the ostriches: of course, though, aren't they the ones who found the tar sands up here?

Alex

[nodak3]

The 'big oil companies' don't consider themselves OIL companies anymore, but energy and chemical companies. That tell you anything? The one dh retired from, BP (formerly Amoco) is highly focused on renewable energy and conservation, looking for ways to make their profit there in the future. That sure tells me something about the longevity of the oil industry.

[mightybooboo]

Originally Posted by Alex

What if oil wasn't based on the USA dollar, then what? Say the Euro or the Saudi dollar. Then the dollar would go even lower, YIKES!

From another post of mine, you know, no one responded to these questions.
Oh, yes, there are always the ostriches: of course, though, aren't they the ones who found the tar sands up here?

Alex

Alex,I dont respond to peak oil,because I dont believe it.Ive seen too many times the artificial shortages and the big profits it brings big oil.Why sell lots for cheap,selling less for more makes better business sense.As for reserves,and whats left,who knows?If anyone knows how much is left,dont they in turn know where its at?Guess we dont need to explore for it,the 'experts already know,eh?

All that said,i see 2-3 factors driving up price.It is its good for Oil Bush,our president,to have high prices for him and his cronies(Price was dropping when Karrey(sp)was leading the election returns),we have 'instability' with troops getting killed and killing over there(what if flow is interrupted?) and third,the dollars value is less thanks to our robust economy.

Bet when Bush is gone and the war is over,we will see prices down again.I still feel the worlds crust is awash in oil,just needs to be developed,as is happening in many places,Africa being an example,and the apparent large Russian resources.

IMHO,I really have no way of knowing,as do any of us schmucks.

BooBoo