What do you think is responsible for rising Gas Prices?

Question

I'm looking for intelegent answers with some logical explaination. If you honestly think its Bush's fault thats fine but give a decent explaination and some evidence to back it up.
Do you think its a conspiricy by big oil? do you believe its all supply and demand? Do you believe it is the global economy?

Whatever it is, back it up with some evidence and/or logic.

Answer 1

The global economy has much to do with it. China and India together have more than 5 times the population of the US. Both of these countries are emerging technologically. All of a sudden you have a huge demand for gas, as people in the countries can now afford automobiles, meanwhile, production of gas has not kept pace. Basic economics - supply stays the same as demand increases means prices go up.

Answer 2

1. I calculate the equalibruim price based off inflation at $2.67 - $2.72. Basing prices of $1.00 - $1.10 in the 1980's with a Conversion Factor: 2.4636
Percent Change: 146.36
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Inflation doesn't account 4 the LOW SUPPLY of refineries.

Pretend "Katrina" didn't take out our most important refinery ...well, we'd still be having "Refined" gas problems. The low supply of refineries is the fault of USA Governers who served from 1980-present and denied Oil companies from building in their back yard. The Arizona Government has been denying Oil Companies to build a refinery therea since the early 1990's ... should a state say "Yes" today ... well, it still takes 5-7 years to build a refinery. Now oil companies are reluctant to invest $$$ into a new refinery because they too want a "Green Enviroment" and are looking at the moon shine stuff made from "Corn" ... which ironically, the global scientists are againts, but the Iowa farmers sure do love ... which means that canidates running for President love.

Answer 3

Gas prices went up when the summer blend gas was pushed into the system; we paid .50 a gallon to cut pollution. It rose more as the Memorial day peak drive ramped up; and it's fallen ever since. Will climb again if there are outside factors affecting supply or on the 4th when demand kicks up; and again at Labor day. After the fall, .50 a drop when the blend goes back to normal.

Supply and demand.

Answer 4

I have no hard proof, but I honestly think the biggest reason for rising prices is exactly what we've been told...demand surpassing supply. However, I do not expect prices to get much lower than today's price. Mankind is using and polluting this planet faster than was ever intended therefor we must make sacrifices to continue. Get used to it, it will probably take a law to make us more responsible Americans since the majority of us won't do it on our own. We've brought it upon ourselves and now we must deal with the consequences of what we've done.

Answer 5

I do believe there is a lot of greed involved. Simple observation: Oil executives are making record profits and oil prices are at record highs. So, obviously, there must be a bigger cut off the top for them, so that money can't be going into problems supplying the stuff. If executives were making normal profits, I'm willing to bet they could cut the price down.

Supposedly oil refineries were on reduced production in April/May because they were running yearly maintenance? Convenient; also one of the busiest driving times with Memorial day.

Believe it or not, we get most of our crude oil and petroleum from Canada, Mexico, Saudi Arabia, and Venezuela in that order, and that is about 60% of all our imports. So, problems in the Middle East can't contribute too much, even though they say it does.

I blame Bush for a lot too. His family is in oil and does have buddy-buddy ties to Saudi Arabia. He might not be responsible for high prices, but he's not doing anything to help either. Guilty, but not responsible.

Answer 6

It is simply greed, there is no good reason why every year around the same time, (memorial day weekend) there is a spike in the price of gas. Corporate America own the politicians. They line they're pockets and as a result the common folk don't stand a chance. our founding fathers did a decent job of separating religion and state, they should have also included business (corporate America) as well.
Don't expect any relief anytime soon, big oil companies know they have friends in the white house.

Answer 7

Haven't dug too much into this subject but in my opinion it's all the fat cat politicians and greedy capitalist. They all buy stocks in the companies and surprise surprise when nothing is done in office to change this crisis. We are most certainly headed in a downward spiral due to the corrupted who lead this country who only give a damn about filling their own pockets. The constitution looks nothing more than an over amended napkin and democracy has been long dead and we are just riding this runaway train.

Answer 8

lack of incentives to change - think about why the Japanese brought hybrid technology to market first, they have been focusing much of their creatvie drive into non-military things for how many generations?

Now China and the Koreans will compete with them...they have an incentive to change.

I am a lazy American, and I admit it.

Answer 9

Personally, I think it's gotten so high because they can, and there's not a darn thing we can do about it.
It's a total monopoly, with so many companies selling out their employee's, and America, all of big business is trying to figure out how they can do the same with nothing coming back at them. They have an easier hoe to roe, they have the polititians behind them, and in their pocket's.

Answer 10

it's because big oil owns bush. the rising gas prices are blamed on higher levels of danger due to the war in iraq. but since america gets no oil from iraq, i seriously question that. basically, i believe that big oil is using that as a excuse to raise prices, the saudi's sure aren't at war now are they? it all comes down to greed, and they know they can get away with it cus bush is owned by them lock, stock and barrel