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OIL PRICES ARE A REAL RIPOFF

I SURE DO NOT UNDERSTAND THE PRICE OF OIL WHEN IT IS PRODUCED RIGHT HERE IN TEXAS. I also do not understand the price of gas that is made from foreign oil or home produced oil. Why do we pay the same price for oil produced here in the US as we pay for oil that is shipped over here via tankers?? You would think that there should be some price level control here but guess who is in the oil business.

While we produce approximately 30% of our own oil here in the states we have the reserves to produce 75% of our oil. For some reason there are controls to keep Texas and other states from producing oil at a rate that would reduce our price at the pump approximately 50%. We buy oil from Mexico and that is just at our backdoor from the gas refineries here in Texas. However we pay the same price for that oil as we pay for other foreign oil.

Do you think that our leaders are in an attack mode to shut down all of the small business here in the states? There surely is an answer to a far larger question than the one they feed us on TV. The American people will just bend to the will of government and big business without any questions asked. We are at an all time crisis here and I guess we will just accept what they feed us.

I have got to add this line from Amy on Saturday Night Live. " Postage stamps are going up a penny this week and THE OIL COMPANIES said isn't that cute."

Posted by Don Eichler on 05/11/2008 05:42 PM

Comments (12)

oil, gasoline, gas

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12 Comments on OIL PRICES ARE A REAL RIPOFF

It is surely a mystery to me too!!!

The Government keeps so many secrets from us, the tax payers.

Why is gas so high?

Why don't we go into the reserves?

Who has the answers?

05/11/2008 06:01 PM

by Jeanette Hemmer (RE/MAX Plus Realty)

Quite confusing and frustrating with the cost of gas going up. How can Oil here in the US and Mexico cost as much as the oil which comes from the middle east? It isn't being transported for near as far a distance.

Sean Allen

05/11/2008 06:15 PM

by International Financing Solutions

I would have to say ditto!

05/11/2008 06:15 PM

by Tony & Darcy Cannon - The C Team (ERA Realty Center)

Don~ I'm in Caifornia and I seeth every time I go to the pump....I know there is something fishy going on, and there si something drastically wrong when Gas Companies like Exxon and Mobil are getting record profits, while we are being driven into the ground and going under in many cases. Why there is not outrage is beyond me.

05/11/2008 06:16 PM

by Laura Monroe- Real Estate Virtual Assistant (Creative Agent Solutions.com)

Today I saw the price of regular for 3.75, it is getting close to that $4.00 mark that Bush said it would not get to or whoever it was that said that. I can't remember.

05/11/2008 06:34 PM

by Angelia Garcia (Francesca Realty.LLC)

Don - I agree we are in a crisis mode. They are going to force us to drive less or use mass transportation.

I undertand other countries are growing and with this growth utilize more oil; just as we do in this country as we continue to grow. I believe there is ample oil, but we aren't able to pump for all the reasons we hear everyday on the news. I say pump the oil, build new refining facilties, find alternative fuels and build automobiles that get 50-60 miles to the gallon.

We want to move forward not go backward. If we don't speak out in great numbers and begin to protect what is so precios it will be taken from us. The rich are getting wealthy through greed.

05/11/2008 09:51 PM

by Carl & Ceil Winters (Complete Inspection Service, New Braunfels, Texas 78133)

Carl & Ceil, Thanks for the comments. The say we will not depend on oil with-in the next 30 years because of othe fuels so saving our oil does not make sense. It is like trying to save a time-out in a football game until the next game. We were in the oil business for a few years and we know that there is much oil here in Texas to be produced. I did this post in such a hurry Ricki had me go back and fix all of my typeos. Ha.

05/11/2008 10:17 PM

by Don Eichler (Eichler Properties)

Jeanette, I don't know how we are going to keep taking the increase in the price of gas.

Sean, It does make you wonder what they are trying to do to us.

Tony & Darcy, Thanks for the ditto.

Laura, I know the price of gas is higher in California, but why?

Angelia, The ones in Washington only lie when their lips are moving.

05/11/2008 10:24 PM

by Don Eichler (Eichler Properties)

Don, it is confusing. wish we knew the real answers. my best guess, is that we are trying to use up all of the worlds oil and save ours for later.

05/13/2008 07:19 PM

by Peter Z. Nikic

Don, if you figure it out you will be a bizzilionaire, it has me confused as well. LOL on the stamp going up a penny.

05/16/2008 11:19 PM

by * Rate A Home (Rate A Home)

Duane, Read Ricki's blog on the oil prices etc. Thanks for the comment. The price of gas less than .50 cents per gal in Riyad. Her blog My Clients wanted to buy a house but decided to fuel up the car instead.

05/17/2008 11:01 AM

by Don Eichler (Eichler Properties)

Don, LOL, loved her title. I will go visit her site right now, thanks for the heads up.

Duane

05/17/2008 11:04 AM

by * Rate A Home (Rate A Home)