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Not again.

October 22, 2011

Back in the beginning of this year NATO decided to help the rebels in Libya. Every commodities trader was after oil. From that moment on this year it was a horse race to buy fuel or gas before the next increase. We have all seen the oil traded at well over $100 a barrel and that translated to an increase every week. Well Libya for the most part has been free for weeks, and now Qaddafi is dead, so what happens on my trip to town this morning…


Yes gas hit $4.00 a gallon and when I went to get a barrel of heating fuel it was up .05 to $3.89 a gallon. But thats OK my friends because we old farts got a nice cost of living increase with Social Security, (first one since 2009), of about 3.7%. For me that comes to about $62 a month. When a round trip to town is hitting $30, that increase will pay for the two trips I make to Fairbanks a month, that is if gas does not go up again.

Something is wrong with a government that cry,s about the cost of imported oil and says we should be more self-sufficient and will not allow more drilling and production. Even if the drill sites do not produce like Prudhoe bay or other big oil fields, many small ones will make a difference.

It’s common sense

For every barrel we produce we will import one less

even this slow old man can see that…

why can’t Washington?

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9 Comments leave one →
  1. October 22, 2011 1:54 pm

    In the past two years the number of drill rigs has risen dramatically, I hear. Big boom in drilling in Texas and the Dakotas.

    What makes you say the government won’t allow drilling? What’s your source of information?

    Like

    • Rosalyn permalink
      October 24, 2011 2:57 pm

      Try drilling wells in Alaska, where most of the nations oil reserves are located. Check out opening ANWR to drilling. Even the massive Petroleum Reserve located west of Prudhoe Bay is untouchable.

      Like

  2. Jon permalink
    October 22, 2011 9:43 pm

    Well Pete, I opened my 401 account the other day & discovered I’d lost $6,700 since the last quarter. Maybe I should go down & protest with the rest of the idiots, except they’d send up a cheer when I tell them how much I lost because after all they hate the rich folks like me that have retirement accounts, don’t they?

    Like

    • October 24, 2011 12:16 am

      No. They’re on your side.

      Like

      • Rosalyn permalink
        October 24, 2011 2:58 pm

        Sure they are. That’s why one of their main problems is thievery in the ranks, now. Some must think the others have more than they do, so are fair game all the way around.

        Like

  3. Daddy permalink*
    October 23, 2011 11:45 pm

    What really gets me is that, the barrel price of gas is a fraction of what it was when it was skyrocketing, but the pump price hasn’t gone back down the the $1.50 a gallon at the pump. Barrel goes up, pump goes up- same day. Barrel goes down, pump stays up for weeks. It may go down, then it may go back up.

    I was stunned that down in Texas, at least, Gas had dipped back to $2.90 for a week. I thought, hey, maybe Bush’s wars (on Al Queida, then Weapons of Mass Destruction, then Saddam Hussein, then to liberate people, or whatever…) actually did work. But no. it was just a blip. It was like the big oil companies forgot to keep the prices artificially raised for their profit windfalls & the dropped barrel price actually was making its way to the pump. Well, they fixed that real quick with a near 30¢ increase in a week for zero reason.

    Look at the last three months where crude prices actually dropped below the price charged at the pump. But the pump price failed to drop at the same rate, speed or distance. (select your area, then click the button for crude oil prices)

    http://www.vancouvergasprices.com/retail_price_chart.aspx

    As much as people hate government & regulation, it’s clear that gas companies are sucking the public dry. Only difference is that it’s a flat Exxon/Mobile (et al) tax: everyone pays the same pump prices- no matter a rich CEO or a poor family. The difference is that those living on limited incomes (as Pete’s blog shows) are hit the hardest when the already money-drenched companies dick with the prices to make even more profit.

    I agree, recycle congress and put some regulation back onto big corporations & banks. As I’ve seen posted elsewhere:

    “If Bush’s tax breaks for corporations & the rich were supposed to stimulate the economy & create jobs, why haven’t they?”

    Like

  4. October 24, 2011 12:26 am

    You know, of course, that the U.S. is now an oil-exporting nation again, right?

    http://timpanogos.wordpress.com/2011/09/04/u-s-exporting-energy-then-conservation-is-a-boost-to-economy-too/

    Like

  5. Rosalyn permalink
    October 26, 2011 2:21 pm

    Of course with Gaddhafi dead, now there will be Sharia Law in Libya, but hey, it will be a moderate country, it claims. Has anyone really looked into Sharia Law? So this was Bush’s fault, too? That is one powerful man, to still be running everything so many years after he was no longer in office and never had a Congress that backed him.

    Like

    • Rosalyn permalink
      October 26, 2011 4:47 pm

      Plus, it must be nice to be part of that elite, privileged class of Americans who have the time and money to go “Occupy Wall Street” for a few weeks….

      Oh yeah, I forgot, they got that job on craigslist, how nice.. :)

      Like

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