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I don't know how many of you are old enough to remember the Odd/Even gas rationing in Cali , in the early to mid '70s , but during this time period the refineries were sitting full and there were tank cars all over the state sitting in sidings . What a crock that was and this is shaping up to be much of the same . Just another guise in which to gouge us , the consumers .
Regards, Wizzard

Back in the "OLDEN" days, I remember paying $0.65/Gal Imp, not US. Now, when we did that wonderful change to metric, the oil companies made an instant killing. Gas went from .65/gal to .22/litre

In money terms that was a difference of .35/gal Imp

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We are currently paying $1.109/litre, now in US $'s that comes out something like $3.509/Gal US

I guess what I don't understand is that the other day I saw on the news that the oil companies are posting record profits... Seems thata the higher gas prices are just bolstering the oil companies coffers...

It does seem that way--Exxon Mobil is the BIIIG winner. They are ostensibly using these great profits for exploration for new oil fields and alternative energy sources, but I wonder.....

no no it;s the chinese demand for oil that's doing it.they are definitely not gouging us to increase their profits.

I hope you guys are not insinuating that the oil companies would limit supply by keeping production low so that they could make more money off of us. They wouldn't do that would they? Next thing I know someone will tell me that DeBeers has tons of diamonds they won't release onto the market.

Wiz, I am old enough to remember gas wars, with dealers fighting to offer the lowest prices, and offering sets of drinking glasses and dinnerware to get you to buy from them. They even washed windshields and checked oil, too, and there were no self and full service pumps, and the price per gallon started with a decimal point followed by a 2 instead of the 2 first, then the decimal point, like it is now.

cb360 wrote:I hope you guys are not insinuating that the oil companies would limit supply by keeping production low so that they could make more money off of us. They wouldn't do that would they? Next thing I know someone will tell me that DeBeers has tons of diamonds they won't release onto the market.

Just out of curiosity, if oil companies really could do what you say, why weren't they doing it about 7 years ago when oil was $12/bbl and gas was less than a buck a gallon at the pump. If I recall correctly, oil company stock at the time was nearly as worthless as the oil.

All of those companies took a beating during an oil glut that lasted nearly 10 years. Suddenly everyone thinks they have become masters at controlling the market. It's just not plausable.

I guess a lot of us just don't trust enough, whether it is big oil, or government. There seems to be a national cynicism sweeping the country.

Stuff like this cracks me up.. with the conversion from litres to gallons and the dollar rate we're paying about $10 US for a gallon..

please remember the oil companies are just that, companies that want to make as much money as possible.. other wise why would they be in business, to make the world a better place ?. right..