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Old 02-24-2012, 05:40 PM   #26 (permalink)
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New article today: Washington Examiner

President Obama admitted today that he does not have a "silver bullet" solution for skyrocketing gas prices, but he proposed alternative energy sources such as "a plant-like substance, algae" as a way of cutting dependence on oil by 17 percent.

"We’re making new investments in the development of gasoline, diesel, and jet fuel that’s actually made from a plant-like substance, algae -- you've got a bunch of algae out here," Obama said at the University of Miami today. "If we can figure out how to make energy out of that, we'll be doing alright. Believe it or not, we could replace up to 17 percent of the oil we import for transportation with this fuel that we can grow right here in America."

The Department of Energy (DOE) currently spends about $85 million on 30 research projects "to develop algal biofuels," according to the White House, which announced that Obama is committing another $14 million to the idea.

Obama did not say when he expected algae-based fuel to reach that level, but the federal government has a dodgy track record with respect to developing alternative vehicle fuels. Biodiesel, for example, accounted for less than 1 percent of the diesel fuel market as of 2008, according to the Energy Information Administration. And of course there's ethanol -- after four decades, tens of billions of dollars in subsidies, and draconian mandates that force it on unwilling consumers, ethanol was five percent of vehicle consumption (by volume) as of 2008. Although algae-to-gas is a very different idea, it is still in its early stages.

"We're not going to transition out of oil anytime soon," Obama added, before touting the record high domestic gas production right now and the agreement with Mexico to drill in the Gulf of Mexico, while still calling for expanded investment in alternative energy.

Oil industry leaders reject Obama's claim to have given significant support to oil production. "These have been the most difficult three years from a policy standpoint that I've ever seen in my career," Bruce Vincent, president of Swift Energy, an oil and gas company in Houston, said yesterday. "They've done nothing but restrict access and delay permitting."

Obama affirmed the need to protect the planet by developing clean energy alternatives, but The Washington Examiner's Michael Barone argues that he hasn't been consistent even on that front. "We’ve prohibited a pipeline, the safest way to transport oil, from Canada, but we’re aiding Mexico in offshore drilling, which is riskier, and by a firm that lacks the experience of the U.S. firms we have been trying to prevent drilling in the same body of water," Barone wrote yesterday. "Does this make any sense at all?"
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Old 02-24-2012, 06:01 PM   #27 (permalink)
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Those last two paragraphs say a lot. I agree we need to be less dependent on foreign oil. However, until that time comes, we cannot stand around and hope for a breakthrough with algae or whatever.

Seems like I recall T. Boone Pickens advocating the use of natural gas, which apparently the United States has a large reserve and is currently in use by many commercial vehicles. Wonder why there hasn't been more of an emphasis of incorporating that into consumer transportation?
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Old 02-24-2012, 06:11 PM   #28 (permalink)
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Those last two paragraphs say a lot. I agree we need to be less dependent on foreign oil. However, until that time comes, we cannot stand around and hope for a breakthrough with algae or whatever.

Seems like I recall T. Boone Pickens advocating the use of natural gas, which apparently the United States has a large reserve and is currently in use by many commercial vehicles. Wonder why there hasn't been more of an emphasis of incorporating that into consumer transportation?
Oil companies/Corporations >>> President>>>>senators [who own stock in corporations] >>>> than the little people like you and I.

that is to say, the top 1% of the 1% [big oil] own this world and they would never let that cash cow get away and they'll buy the laws to ensure it [Foreign Oil] never goes away until it dries up.
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Old 02-24-2012, 06:28 PM   #29 (permalink)
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It is called inflation guys. As we print more dollars backed by nothing the price of every day goods goes up.

I can actually get a gallon of gas for .20 still. Take two dimes from prior to 1964 and cash them in for $5 and get yourself a gallon of gas. If we had money that was actually backed by something these movements wouldn't be as large.
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Old 02-24-2012, 06:35 PM   #30 (permalink)
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3.75 here in NE ohio!!!
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Old 02-24-2012, 06:40 PM   #31 (permalink)
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It is called inflation guys. As we print more dollars backed by nothing the price of every day goods goes up.

I can actually get a gallon of gas for .20 still. Take two dimes from prior to 1964 and cash them in for $5 and get yourself a gallon of gas. If we had money that was actually backed by something these movements wouldn't be as large.
I was just going to post something along these lines.

Gas is NOT going up. The value of our "dollar" is going down, and going down fast!
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Old 02-24-2012, 06:43 PM   #32 (permalink)
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3.75 here in NE ohio!!!
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Old 02-24-2012, 06:52 PM   #33 (permalink)
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I think it might be $3.75 in NE Ohio
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Old 02-24-2012, 07:02 PM   #34 (permalink)
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$4.75+ / gallon here...
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Old 02-24-2012, 07:20 PM   #35 (permalink)
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$3.69 here
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Old 02-24-2012, 07:23 PM   #36 (permalink)
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I think it was about $3.30-$3.40 last week and today it was $3.69
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Old 02-24-2012, 07:41 PM   #37 (permalink)
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$4.75+ / gallon here...
$5.20/gallon today here in the tdot!!!

Lucky for me I take the Go train to work. That runs me $72/week
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Old 02-24-2012, 07:48 PM   #38 (permalink)
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$5.20/gallon today here in the tdot!!!

Lucky for me I take the Go train to work. That runs me $72/week
Holy sh*t, I was being conservative (I don't drive often so don't have a great handle on gas prices) but that is nuts. No wonder my dad is so cranky.
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Old 02-24-2012, 09:11 PM   #39 (permalink)
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I will cherish my 3.41 from today and probably never see it again. So can anybody other than "inflation" truely explain why the sudden spike. We don't get enough oil from Iran to make it this high. Last I heard we were exporting the crap out of the country simple stop exporting and keep it here. This is going to be the end of us all the economy is in line to crash and crash harder than it ever has before. Alternative is great OBuma but it is 10 years away you wait that long and we are going to all be in the poor house. No one can afford this Sh!t!!
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Old 02-24-2012, 09:51 PM   #40 (permalink)
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4.35 in SF. cost me $42 to fill up my crappy 99 corolla. and i fill up once a week!!!
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Old 02-24-2012, 10:23 PM   #41 (permalink)
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i paid today $3.59 a gal today. and the same name station 2 miles away was at $3.75 a gal. its starting to get bad. i heard the break down is for every $50.00 you spend big oil gets about $30.75, $7.00 goes to the refinery, government gets $6.00 from taxes, $4.00 to the company that delivers the gas, $1.25 to the CC company, and $1.00 to the gas station. so how are you coping with the gas BS?

USA National Gas Price Heat Map - GasBuddy.com
If you want to blame the oil companies for high gas prices, that's cool, but we should also look at some other companies to see how much they make on us, too. I'm not a fan of the high gas prices (40 mile commute each way), but it's not just big oil's greed that is our problem. While your cost breakdown may be accurate, you need to keep in mind that oil companies/refineries have the largest expenses when it comes to getting a gallon of gas top the pump as well.

2011 Net Profit Margins (From Google Finance)
BP 6.75%
Chevron 10.65%
Exxon 8.68%
Marathon Petroleum (Refiner) 3.03%
Kraft Foods 6.52%
General Mills 11.47%
ConAgra Foods 6.53%
Wal-Mart 3.68%
Apple 23.95%
Disney 12.86%
GlaxoSmithKline 26.06%
Pfizer 12.96%
Proctor & Gamble 14.29%
Ford 14.84%
American Express 15.81%
Coke 18.55%
McDonald's 20.38%
Johnson & Johnson 14.87%
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Old 02-24-2012, 10:28 PM   #42 (permalink)
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I was just going to post something along these lines.

Gas is NOT going up. The value of our "dollar" is going down, and going down fast!
Yeah it is .... It's losing ground on the euro every day, which sucks for those of us going to Italy in a few weeks (me) that need to convert $$ into Euros
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Old 02-24-2012, 10:42 PM   #43 (permalink)
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As gas prices go higher and higher we make the countries that want to kill us even richer!
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sentence of the year!

The enemies within will destroy us long before someone in the Middle East. Besides, MOST of our oil comes from Canada, even without that stupid pipeline that would have created jobs for 2 years tops.
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Old 02-24-2012, 10:44 PM   #44 (permalink)
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BMW X5 = 4.29 at the pump
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Old 02-24-2012, 11:22 PM   #45 (permalink)
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BREAK DOWN OF GAS PRICE PER BUCK
Taxes: 13 cents
Distribution and Marketing: 8 cents
Refining: 14 cents
Crude oil: 65 cents

SO YOUR STATE AND FEDERAL GOVT MAKES ABOUT 52 CENTS PER GALLON
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Old 02-24-2012, 11:33 PM   #46 (permalink)
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$81 to fill up my Tacoma today
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Old 02-24-2012, 11:36 PM   #47 (permalink)
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Originally Posted by mr10pin View Post
If you want to blame the oil companies for high gas prices, that's cool, but we should also look at some other companies to see how much they make on us, too. I'm not a fan of the high gas prices (40 mile commute each way), but it's not just big oil's greed that is our problem. While your cost breakdown may be accurate, you need to keep in mind that oil companies/refineries have the largest expenses when it comes to getting a gallon of gas top the pump as well.

2011 Net Profit Margins (From Google Finance)
BP 6.75%
Chevron 10.65%
Exxon 8.68%
Marathon Petroleum (Refiner) 3.03%
Kraft Foods 6.52%
General Mills 11.47%
ConAgra Foods 6.53%
Wal-Mart 3.68%
Apple 23.95%
Disney 12.86%
GlaxoSmithKline 26.06%
Pfizer 12.96%
Proctor & Gamble 14.29%
Ford 14.84%
American Express 15.81%
Coke 18.55%
McDonald's 20.38%
Johnson & Johnson 14.87%

Don't think you can compare them. There selling 1 thing and that's gas. Your list of companies are selling a wide range of products from the cost of pennies to thousands of dollars. So of course there % should be higher then big oil. Plus everybody uses the companies in your list .
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Old 02-24-2012, 11:57 PM   #48 (permalink)
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Until you drop about $500 every day to fuel a Peterbilt you don't know the pain of filling up.
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Old 02-24-2012, 11:57 PM   #49 (permalink)
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Don't think you can compare them. There selling 1 thing and that's gas. Your list of companies are selling a wide range of products from the cost of pennies to thousands of dollars. So of course there % should be higher then big oil. Plus everybody uses the companies in your list .
The point is that the profit margin for oil companies is moderate when compared to many things we purchase on a daily basis. That's the whole point of comparing across product categories.

Selling multiple items at various prices doesn't mean you should make a higher percentage profit automatically. We love to bash oil companies because the media loves to, but the fact is they aren't gouging us when compared to many other things we purchase.

Also, for what it's worth...oil companies sell more than gas. Plastic is petrochemical based product...the oil companies find and refine the oil so that can be produced. Asphalt is sold by oil companies, too.
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Old 02-25-2012, 12:00 AM   #50 (permalink)
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The point is that the profit margin for oil companies is moderate when compared to many things we purchase on a daily basis. That's the whole point of comparing across product categories.

Selling multiple items at various prices doesn't mean you should make a higher percentage profit automatically. We love to bash oil companies because the media loves to, but the fact is they aren't gouging us when compared to many other things we purchase.

Also, for what it's worth...oil companies sell more than gas. Plastic is petrochemical based product...the oil companies find and refine the oil so that can be produced. Asphalt is sold by oil companies, too.
I doubt those figures factor in the tax breaks given to big oil.
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