Oil prices fall, pump prices don't

Our government ALLOWED the 2 of the largest oil companies to MERGE---What did they think Exxon-Mobil would do when they controlled the market. The people who are supposed to "represent " us set up the biggest monolopy in decades and do nothing. Admit your wrong in Washington and break this union. Remeber the break up of the 'Bells?

Of course there's more to it than just supply and demand. Its these damn futures traders, oil companies and oil refineries. Those bastards are making hundreds of millions of dollars at our expense. Since people are obviously willing to pay $4/gallon they are gonna try to take it to $5 and see what happens next. Im still trying to figure out why no one has built a new refinery since the 70's. Obviously there are way more cars on the road today then there were back then but the amount of gas that is being refined has not increased proportionately.

Swinging Sirloin wrote:

The price goes up like a rocket and comes down like a balloon

I agree totally!

Let drill for oil in lake michigan, and that would solve the problem.

lopez wrote:

Let drill for oil in lake michigan, and that would solve the problem.

Thats a good one. Like your comment.

Tha's like cutting off your nose spite your face!

A name wrote:

<quoted text>
Thats a good one. Like your comment.

According to the CEO of Exxon there are 83 million barrels of oil produced daily and we (the world) currently use 87 million, they have yet to explain how the 4 million barrel per day lack of oil is made up for being that we use 4 million barrels of something that could not be produced.
I wonder what they will do when the demand drops by alternate fuel vehicles such as hybrids, hyrdogen fuel cell and electric cars? The logic they have been using is the demand sets the price...so if we drop to say 70 million barrels a day creating an oil glut will we see prices drop below a dollar per gallon?....not bloody likely folks. They have us over a barrel (pun intended) and so long as we need fossil fuels they will soak us for all its worth.

Just a blantet case of the upper crust thinking the poor are too stupid to figure it out and by the time they do we will all be the richer and who cares anyways it is not like a rich person ever will see true justice in our court system. We all know by now there are two sets of laws a set for the poor which means imprisonment and heavy fines they know that we as poor do not have. hen there is the laws for the rich which pretty much means you can get away with anything including murder as long as your victims are poor because it is not like oour justice systems give a rat's **** about us anyway.

I think it's time we start looking to US soil for oil. I understand that most of our oil comes from Canada, and a little from the Middle East. But why can't we be more self sufficient? On top of that, wouldn't it create more jobs in the US? The Caribou and other animals can wait a little bit until we come up with an cost effective, clean, alternative fuel..

Has any one noticed that none, I REPEAT NONE, of the Dem's or Republicians from this state have made mention, or made any effort, to help increase production of energy resources for the US. There is no plan for more oil production, more refineries, or more coal usage, I think its time to flush Vern Ealers andthe rest of them, and start over with people who have their heads screw on streight. Obama and Mc Cain are no better. i wish there was a slot at the voting booth with " none of the above" listed

Mike wrote:

Of course there's more to it than just supply and demand. Its these damn futures traders, oil companies and oil refineries. Those bastards are making hundreds of millions of dollars at our expense. Since people are obviously willing to pay $4/gallon they are gonna try to take it to $5 and see what happens next. Im still trying to figure out why no one has built a new refinery since the 70's. Obviously there are way more cars on the road today then there were back then but the amount of gas that is being refined has not increased proportionately.

The Dem's mandated a moritorium on off shore drilling building refineries and drilling in ANWAR in 1972 does that answer your question?

Marcus V wrote:

I think it's time we start looking to US soil for oil. I understand that most of our oil comes from Canada, and a little from the Middle East. But why can't we be more self sufficient? On top of that, wouldn't it create more jobs in the US? The Caribou and other animals can wait a little bit until we come up with an cost effective, clean, alternative fuel..

Sure, tear up Alaska to ensure that we have $4/gallon gas for the next 10 years, then what? We're still stuck using internal combustion, a 100-year-old technology, and prices skyrocket again after we've drained another natural resource.

It's the boy with his finger in the ****...it's just a stopgap, and with more oil, it would take away any motivation by the energy companies to develop alternate fuels (why bother when you're already setting a new record profit every quarter?).

At the risk of sounding like a tree-hugging hippie, this is a wake-up call to get going on one of the many new fuel technologies, which by the way, also creates jobs and doesn't bother the caribou :). Unfortunately, it may bankrupt us all first!

And the big oil companies are laughing all the way to the bank.

I feel it's all a scam. Someone is making a profit and as I understand companies are making record profits at the price of we Americans. I also don't feel it's just the middle east but but our own oil companies taking advantage of us. Remember 911 when the prices jumped that day? The govenor stepped up to the plate. Where are the politicians now? I'm a single WORKING parent and it is hard enough to make ends meet.

They can regulate what the farmers sell us they can regulate the phone industry-they can regulate cable hmmmmmm I guess when some of the big wigs in washington are being paid big oil company profits then why should they bother regulating the price of gas....Oh and to the person that made the comment that "all the blacks are stealing gas" you are sick and that post should be removed.

I heard a good idea today. Our government collects taxes from all of us to serve us. We are not being represented as the working class tax payer. Maybe we should all claim exempt for a month or so and see if the Bush administration and congress takes a action on that. Perhaps the tax payers in this country need to send a message to OUR representatives about how we feel about the action they are taking on our interests. It's time for the tax payers to get what we pay for not the big oil companies

where is our american spirt? isnt anyone going to protest this? im confused! And i think everyone else is confused too! no one knows where to turn. Or what to do! My father is a truck driver..and he said he filled his tank up and i cost him $1500! Someone help me find the answers!:(

It is a shame that while the oil companies are getting richer the rest of us are getting poorer! Even sadder still is that the politicians are supported by the oil companies so they are less likely to stop them from taking advantage of us all. Their day will come! Soon all of them will be poor and if we are lucky no one will cut them a break! There will come a day when we will not rely on oil and then they will be screwed! Honestly I'd like to know how the oil execs can sleep at night knowing that they are taking advantage on the average hard working American worker! They are all going to burn in hell!

I heard in the UK the truckers decided on a strike wonder if they might try that here ?