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Thread: Gas Prices

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    Gas Prices

    With gas prices around $3.00 here in Des Moines, I hear a lot of people complaining about how much money the oil companies are getting. I think I'm the only one who is on the opposite side of this statement.

    Shouldn't the oil companies be able to charge whatever they want? Isn't the United States a free market? If people will pay it, why charge less?

    People complain, but they do almost nothing to change how much gas they use. I know I don't. There has to be a breaking point somewhere...if gas was $5 per gallon, would consumers change how much they drive? Would they use public transportation? Would they no longer buy gas guzzlers? I think this would be a giant push the automakers need to make more fuel efficient cars. If something is in great public demand, someone will make it.

    I guess I just don't see all of the hate towards the oil companies. They run a business where the goal is to make money...no different that Target, Home Depot, McDonalds, etc. If McDonalds charged $6 for a cheeseburger, they wouldn't survive so they would adjust that price downwards until they saw a profit.

    I guess the whole point of this is that IMO, gas prices will continue to be high until we, the consumers, do something about it. After all, we drive a free market.



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    Re: Gas Prices

    Invest in those companies if it really bothers you. Cyclone world is right unfortunately, free market, even if they do manipulate the market slightly in thier favor.

    ie.)Prices go up when refineries are down for maintenance, a planned event that causes stores to decrease. Part of the reason for the increase right now since the price per barrel of crude is mostly unchanged while gas price is rising.


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    Re: Gas Prices

    Right on the money. World supply is not keeping up with demand. I can't help but laugh when people drive around in a Hummer and whine about gas prices. The oil company is just doing what any responsible company should do, maximize its profits to benefit its stakeholders. If people have a problem with the prices, get a hybrid, carpool, take the bus. That is the only way anything is ever going to change.



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    Re: Gas Prices

    Really, since I have a bike to get to class, along with CyRide, I haven't been paying too much attention to gas prices because I don't drive anywhere. However, when I did fill up last week, I had to use my kidney as collateral, that was a bummer.


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    Re: Gas Prices

    Heading off to KC here in a few minutes. That will be an expensive 3 hour trip.



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    Re: Gas Prices

    Quote Originally Posted by cycloneworld View Post
    With gas prices around $3.00 here in Des Moines, I hear a lot of people complaining about how much money the oil companies are getting. I think I'm the only one who is on the opposite side of this statement.

    Shouldn't the oil companies be able to charge whatever they want? Isn't the United States a free market? If people will pay it, why charge less?
    So I'm guessing you want the drug companies to charge whatever they want for your prescriptions also??

    Next time you have a headache, I'll sell you two Advil's for $5.00 a piece.

    Some products and services need to be regulated: gas, pharmaceuticals, utilities, etc.


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    Re: Gas Prices

    Quote Originally Posted by psycln11 View Post
    So I'm guessing you want the drug companies to charge whatever they want for your prescriptions also??

    Next time you have a headache, I'll sell you two Advil's for $5.00 a piece.

    Some products and services need to be regulated: gas, pharmaceuticals, utilities, etc.
    If I wanted to get rid of my headache that bad, I would buy them if I thought I was getting value. You will sell a couple Advil tablets but not nearly as many as if you would sell them for $1. That example holds no weight in my mind.

    But I do agree with some insurable goods. No one insures gasoline. Gas is not essential for survival like utilities, prescriptions drugs, etc.

    In my mind, gas is not a lot different that food. You can find food very cheaply (public transportation) but its nice to eat steak if you can afford it (driving your own car).



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    Re: Gas Prices

    Advil is more than $2.50 a piece at the hospital. Check the bill next time you get one or better yet do as I do and refuse over thew counter meds.


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    Re: Gas Prices

    Everything is basically self-regulated as it is. Pharmaceutical companies charge what they want to as it is. However, drug companies have to compete with the generic brands for their business as well. I buy the Hy-Vee brand of ibuprofen as it costs the same for 500 tablets of that as it does for 200 Advil. The difference between gas companies and this though, is that Hy-Vee type companies don't have the resources to create their own gas-manufacturing plants. Another problem is that too many people feel the "need" to drive themselves instead of public transportation or using excercise to get to their destinations.


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    Re: Gas Prices

    Quote Originally Posted by psycln11 View Post
    So I'm guessing you want the drug companies to charge whatever they want for your prescriptions also??

    Next time you have a headache, I'll sell you two Advil's for $5.00 a piece.

    Some products and services need to be regulated: gas, pharmaceuticals, utilities, etc.
    They already do charge what the market will bear. Drugs never cost the $30 (or whatever) you pay. That is just your co-payment. The insurance company covers the rest (and you and your employer pay the insurance premiums, thereby amortizing the full cost of the drugs.)


    Yeah well, ya know, that's just, like uh, your opinion, man.

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    Re: Gas Prices

    Quote Originally Posted by aeroclone View Post
    Right on the money. World supply is not keeping up with demand. I can't help but laugh when people drive around in a Hummer and whine about gas prices. The oil company is just doing what any responsible company should do, maximize its profits to benefit its stakeholders. If people have a problem with the prices, get a hybrid, carpool, take the bus. That is the only way anything is ever going to change.
    I cannot help but laugh everytime I see the Hummer slogan.

    Hummer: Like nothing else.


    Now that's third grade humor at its best!!!



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    Re: Gas Prices

    There are substantial differences between oil and gas markets and most markets. Producing gas requires massive infrastructure investments that act as a natural barrier to competition. It is also an oligopoly. How many oil and gas companies can you name? Now how many places to eat can you name. If I wanted to compete in the food service market I would have a general idea of where to get started and could probably try to make a go of it. However, if I wanted to get into the oil and gas refining business tomorrow, well, it's not going to happen.

    These differences mean that the oil and gas market is far from the same as a regular market, such as food. The assumption that competition alone is enough to keep things in check is not nearly as valid.

    As far as the implications of this... I'm not sure what if anything I would do differently. I haven't done enough research on the actual current practices. My main point is just that the oil and gas market is not your typical market.



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    Re: Gas Prices

    Quote Originally Posted by clones_jer View Post
    I cannot help but laugh everytime I see the Hummer slogan.

    Hummer: Like nothing else.

    Now that's third grade humor at its best!!!
    Hey now, I agree totally with that slogan, except it has nothing to do with vehicles......



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    Re: Gas Prices

    anyone else find in humorous that the ad asking if you're being gouged at the pump popped up as soon as this thread was created?


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    Re: Gas Prices

    Hummers are vehicles now?


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