Quote:
quote:Originally posted by Espresso
The traders on Wall Street are who are controlling the prices. Then the Public Utilities Commission in each state sets the final price( minus tourists tax & local tax per county). Then ofcourse the gas station sets their profit on top of that. Not the oil companies.
Check out Hawaii. They put a cap on their gas prices. So they can only go to a certain dollar amount. They in essence told Tesoro & Chevron (their 2 refiners there) to f*** off. They capped it at $2.15(pre tax) & told them to deal with it.
I laughed my butt off at that.
Why we cant do that here in the lower 48 is beyond me.
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Because you cannot repeal the law of Supply and Demand.
As soon as 'Chevron and Tesoro' stop making a profit in HI, there will be no gas in HI.
World demand for oil is climbing, with no end to demand in sight.
(China and India are putting Millions of new cars on the road as thier economies climb out of the dark ages)
World supply is pretty stagnent.
And nobody wants a new refinery in their state.
On the other hand, unless the government 'does something' (and the last time those Morons in DC 'did something' we ended up with gas rationing and long lines at gas stations that did have fuel) the market will stabilize at a price where formerly marginal sources are profitable (even the oil from shale program makes $en$e if the price of oil is high enough).