High Gas Prices

[Glassman]

I know everyone hates high gas prices and I know we all want the best enviroment for wildlife and ourselves but there has to be a compromise somewhere. China and Cuba are drilling 60 miles off the coast of Florida and the USA can not drill. We have adequate supplies of oil in our own country to remove our dependence on Middle east oil. There is a petition with over 500k people signing already on this website http://www.americansolutions.com/

I know some people are against drilling in the USA for enviromental reasons and I respect their opinion but I beileve there is not much risk and our dependency on foriegn oil is dangerous.

A new news article came out today that sheds some light on this subject
http://article.nationalreview.com/?q...c5MTM3N2MwM2I=

[sbug_adam]

in before the lock

"I know we all want the best enviroment for wildlife"

we are the dominant species.

[Glassman]

Originally Posted by sbug_adam

in before the lock

"I know we all want the best enviroment for wildlife"

we are the dominant species.

Thanks for your reply, I just checked the website and saw 2,000 people signed the petition in the last 20 minutes. I just wish Americans would see the danger we are in before its too late.

I just checked it again and 3,000 more signed it in the last hour.

[sbug_adam]

we can drill to help us with these prices while investing in renewable resources. We are still a good 15 years away before we invent/discover something new.

btw, anyone work at chevron?

[eRoc]

I'm one of the few people who doesn't mind rising gas prices. It will force people to sell their monster trucks (1 person in huge Excursion). That seriously gets on my nerves. I saw this person bitching about gas at the gas station yesterday who was driving a Chevy Tahoe with 24" wheels. Get serious already!

It will also force cities to develop better mass transportation systems. It seriously sucks here in Dallas.

[Glassman]

Originally Posted by sbug_adam

we can drill to help us with these prices while investing in renewable resources. We are still a good 15 years away before we invent/discover something new.

btw, anyone work at chevron?

I agree, when I was a kid, we used glass bottles for soda pop and paid a deposit, there should be a deposit on the plastic bottles to get people to recycle. I would love to hear from anyone working at the oil companies who may be on this forum.

[Glassman]

Originally Posted by eRoc

I'm one of the few people who doesn't mind rising gas prices. It will force people to sell their monster trucks (1 person in huge Excursion). That seriously gets on my nerves. I saw this person bitching about gas at the gas station yesterday who was driving a Chevy Tahoe with 24" wheels. Get serious already!

It will also force cities to develop better mass transportation systems. It seriously sucks here in Dallas.

Eric, I see older people on fixed incomes and people making minimum wage every day in my job and high gas prices are hurting our country. I can understand your position with the driver of the Tahoe but in the big picture it is hurting our country and people who are not fortunate to have a lot of money.

[ka5txl]

Originally Posted by eRoc

I'm one of the few people who doesn't mind rising gas prices. It will force people to sell their monster trucks (1 person in huge Excursion). That seriously gets on my nerves. I saw this person bitching about gas at the gas station yesterday who was driving a Chevy Tahoe with 24" wheels. Get serious already!

It will also force cities to develop better mass transportation systems. It seriously sucks here in Dallas.

eric,
i'm sorry we get on your nerves but nobody has figured out how to tow an 18 foot bass boat to the lake in a prius or other small car, so I ain't selling my "monster truck". If they get on your nerves I hope you don't get around 18 wheelers as you must really be nervous. That's the nice thing about this country is that people are free to pursue thier own intrest with as little interferance as possible. I could use mass transit to get to work, let's see I work 7 miles away and can get there in about 20 minutes in my truck. If I took mass transit it would take 3 to 5 times as long to get there and I would have to drive to the nearest light rail station which is a 1/3 of the way to work

[Detonate]

Originally Posted by Glassman

Eric, I see older people on fixed incomes and people making minimum wage every day in my job and high gas prices are hurting our country. I can understand your position with the driver of the Tahoe but in the big picture it is hurting our country and people who are not fortunate to have a lot of money.

A lot of people NEED to drive a Tahoe. Or what about Independent Truck drivers who depend on driving for their lively hood.

I'm glad that Eric can ride his bike built out of corn husks to work, and not suffer along with the rest of us, but I'm with you Glassman. We need to drill here and now.

I guess you could also care less about the guy that has to drive a full size van with a wheel chair lift to take his ailing wife to and from the Hospital weekly. Oh well! Not your problem right?

Heck. . . we just need someone to put a stop the these "Record Breaking Profits". How about a nice modest profit like the rest of the American people enjoy. These record breakers are coming off the backs of the American people. So while I cry at paying $4.56 for diesel to fill my little yellow Bug car, some jerk is sipping on a drink with an umbrella at an exclusive tropical resort.

[Jenny Z]

Mmmm, useless internet petition.

[Jenny Z]

Originally Posted by TLooney

Heck. . . we just need someone to put a stop the these "Record Breaking Profits". How about a nice modest profit like the rest of the American people enjoy. These record breakers are coming off the backs of the American people. So while I cry at paying $4.56 for diesel to fill my little yellow Bug car, some jerk is sipping on a drink with an umbrella at an exclusive tropical resort.

Fromt his study, by the former Undersecretary of Commerce for Economic Affairs of President Bill Clinton.

Throughout the oil and natural gas industries only about 1.5% of the stock is owned by company executives.

Almost 43 percent of oil and natural gas company shares are owned by mutual funds and asset management companies that have mutual funds. Mutual funds manage accounts for 55 million U.S. households with a median income of $68,700.

Twenty seven percent of shares are owned by other institutional investors like pension funds. In 2004, more than 2,600 pension funds run by federal, state and local governments held almost $64 billion in shares of U.S. oil and natural gas companies. These funds represent the major retirement security for the nation's current and retired soldiers, teachers, and police and fire personnel at every level of government.

Fourteen percent of shares are held in IRA and other personal retirement accounts. Forty five million U.S. households have IRA and other personal retirement accounts, with an average account value of just over $22,000.

You'd be hurting alot more folks than just the "evil" oil company execs by taxing them more.

Never said they should be taxed more.

[Jenny Z]

My apologies. Regardless, if their profits went down, whether it was taxed or otherwise, it'd still be effecting more than just the execs.

True, but with a huge pie of $39.5 Billion in profits there is plenty of room to cut the prices at the pump.

I guess that some would rather pay over $4 a gallon and make a bit bigger return on their investments, but don't know of many who would say that their profits on their IRA made up for the higher prices at the pump.

You can earn around 4% on a CD IRA right now. True there are other investment products but this will work for a baseline comparison.

Six years or so ago, we were enjoying 6% CD rates and gas was a little over $1.

So there is not always a direct relation between gas prices and higher profits on your investment. A lot more goes into it than that.