Ok, OK.....I read the papers and the price per barrel of oil is at $51
per barrel. So how 'cum gas here in Vegas only went down 2 *&^%@ cents
to $2.47! What is up with this? I am so MAD!

it's down to $1.99 in my neighborhood.

They still have thexpensive stuff in the tanks yet.

OPEC is greedy. Think about it If the price of a barrel of crudeoil is
51 dollars a gallon and we pay between 2-3 dollars a gallon for gas.
The price of crude il was about the same as now whne gas was under a
dollar a gallon years ago. It is just a greedy world.

Shoot Einsteins thery or energy and mass showed the world that you can
get enough energy from a glass of water to heat your home for more then
a year. However if they marketed that research and developed it almost
all the utilities would go out of business and the oil companies would
as well. Plus we would be living in alot more environmentally safe world
at the same time.

E=MC squared gave us values of energy and mass equivilent to the
following:

A gram of mass could (theoretically) be converted entirely into
approximately:

90,000,000,000,000 Joules (90,000,000 megajoules)
25,000,000 kilowatt-hours
The energy in 21 kilotons of TNT
Approximately 0.0000850 Quads (quadrillion British thermal units)

HUHHHHHHHHH, kevin can you put that in layman's terms......lol

sorry slow but I cannot explain the theroy of relitivity or even a part
of it in laymans terms. I can tell you this much though. 25 million
kilowatts of power if probably enough to heat and air condition a large
city for a very long time.

When I first moved to Vegas it was 79 cents a gallon I worked on the
strip as an Automotive Technician at a service station union 76 , and
Vegas is not the place to judge the price of gas because they pray on
tourist although in the winter the prices should come down. Try getting
your gas in Henderson.

Columbus, Ohio the gas is $1.93....Yea I WIN!!! ;+)

Southern Ontario..$3.20-$3.60/ gallon so quit yer whining

The theory of relativity is quite easily explained and Einstein was good
enough to put it into laymans terms thusly: Put yer hand on a hot stove
for a minute and it feels like an hour. Talk to a pretty girl for an
hour and it feels like a minute. Now THAT'S relativity.

As far as the oil companies go, they suck rocks, and the journalists
don't help cuz they don't ask the right questions to put the oil exec,
blood sucking leeches on the spot.
One asked the question about why, when the price of crude goes down, it
takes so long to see it at the pumps. The logical answer(and it DOES
make sense) was, they still have their tanks full from when oil was more
expensive. Great, but the "journalist" completely failed to ask the
logical follow-up question. Then why does the price of gas go UP about 5
minutes after they announce the price of crude is going up? I mean, they
have their tanks full of the cheaper gas but no breaks for the consumer.
As far as that "journalist" went, he wasted his money on his college
tuition!

lol the president wanted a pay raise

The gas here in Toronto this morning is $1.14 per liter. My 88
Fifth Avenue will stay parked for awhile. Just can't afford it.

Kevin, i agree with you completely about the amount of energy in a cup
of water, and the fact that if a cheap way to liberate that energy
existed it would put all the oil companies out of business.

But i'm not sure if you are suggesting theres been some kind of cover
up.

Do you think our technology is already there for a cheap and safe way to
do this? I can see oil companies lobbying to cut back fusion research,
slowing us down, but i also think we are just a far, far ways from a
cheap and safe way to bring it to everyday people.

It would be like a person from the middle ages saying "electric light
bulbs are possible, why aren't we using them?" - theres lots of
technology to develop first.

Gas is going up. haven't u herd? Personally, I herd sheep.

AZ is now 2.60 a gallon, I am pissed!

NYC = $2.70 regular

Why gas prices are so high and oil companies enjoy record profits
Thursday, May 4th, 2006

On “The Daily Show” the other night, John Stewart hosted an oil industry
expert talking a bit about current oil prices. She was a very happy
woman, and her engaging, bubbly personality was just charming enough
that she could repeatedly evade John’s questions without being too
obvious. I thought I’d step in and answer her questions for her.

Why are gas prices so high?

John asked why gas is so expensive. She replied, “supply and demand.
When demand goes up, prices go up.”

So far, so good. She’s quoting basic economics. John was ready for her:
“Yes, but why do profits go up? If oil is more expensive, wouldn’t that
offset the higher prices resulting in the same profits?”

Bubbly oil company rep: “Oh, but John, when demand goes up, prices go
up.”

… and this exchange was repeated about four times.

Should gas prices go up while oil profits don’t?

At first glance, it seems like John’s logic is sound. Let’s say oil
costs $1/gallon. Let’s assume it costs an oil company 50 cents to
refine, transport, and sell the gasoline. They sell it at the pump for
$2.00. Their profit:

Original
Revenue $2.00
Cost of oil ($1.00)
Cost of processing ($0.50)
Profit $0.50

If oil goes up 50 cents to $1.50/gallon, the oil companies should pass
that cost through to the consumer, sell the gas at $2.50, producing:

Higher prices
Revenue $2.50
Cost of oil ($1.50)
Cost of processing ($0.50)
Profit $0.50

Same profit. So if they’re enjoying record profits, they must be
price-gouging, right? Wrong.



The problem is Wall Street or, more accurately, how we all treat money.
Oil companies just don’t pass costs through to consumers. We as
investors and Wall Street don’t look at the actual dollar amount of
profits. We care about profit as a percentage of sales. We don’t say “My
investments made $3,000 for me last year,” we say “My investments made
an 8% return last year.” That’s the profit margin. Profit margin is a
company’s bottom line profits divided by top-line sales.

Let’s look at the above scenarios again, but this time we’ll look at
profit margin, not profit dollars:

Original
Revenue $2.00
Cost of oil ($1.00)
Cost of processing ($0.50)
Profit $0.50
Profit margin 25%


Higher prices
Revenue $2.50
Cost of oil ($1.50)
Cost of processing ($0.50)
Profit $0.50
Profit margin 20%

When oil prices go up, if oil companies simply passed through the cost
without an additional markup, their profit margin would fall. In the
world of investors who care about percentage profits, this is a strict
No-No.

So when oil companies raise their prices to keep their profit margin
constant, they have to raise their prices from $2.00/gallon to
$2.67/gallon even though the oil price change was only 50 cents:

Higher prices
(constant profit margin)
Revenue $2.67
Cost of oil ($1.50)
Cost of processing ($0.50)
Profit $0.67
Profit margin 25%

Instead of gas going up 50 cents when oil prices go up 50 cents, keeping
profit margin constant means gas prices will raise 67 cents when oil
prices go up 50 cents. That extra 17 cents flows straight to the bottom
line. In dollar terms, profits formerly at $.50 are now at $.67.

(So that is a 34% increase in the actual dollar amount of profits! Even
though the profit margin (percentage) stayed the same, the media will
likely be reporting it as “a 34% increase in profits.” And it’s quite a
large increase for the company doing nothing but marking up their
product using a standard business markup practices.)

Now we can ask whether oil companies are using the tight supply to mark
up their oil even more. If so, that’s where the unethical behavior and
price gouging is coming in. But sadly for the rest of us, unless we want
to let oil companies report lower percentage profits without penalty,
every increase in oil prices will be offset by a much greater increase
at the pump.

two words can explain gas prices bush and cheney

spring break and summer coming up. Growing up in reno now ya'll are
making me HOMESICK!!! :( :)

I think fedman's gassed! LOL!