In my community, a local TV station conducted a survey. The question asked was “Do you think these high gasoline prices are a result of price gouging”? The results were:

78% said the oil companies were price gouging
18 % said the price was about right.
4 % were not sure.

Wow a survey...probably an unscientific one to boot. I'm really impressed.

Nevermind the increase in demand in China and India, ignore production constraints in various parts of the world and the recent hurricane. Why gasoline would be very cheap if only it weren't for those evil oil companies. Of course, how it would actually be made into gasoline and get into Herb's tank is beside the point.

Now that the prices of oil and gasoline dropped dramatically today (9-2-05) Lets see if we see a price drop equal to the increase we saw on 9-1-05
( about .50 Cents per gallon).

I bet we don’t see it.

Has nothing I've posted sunk in? It isn't just the price of oil Herb. Refining and the different boutique blends also play a significant part of the issue. Now the latter does allow for an increase in market power which also means higher prices, but that isn't simply the fault of the refiners (although I bet they aren't unhappy about it either and may even support this kind of environmental legislation).

There is lots of "blame" to go around on this issue. The oil companies, environmentalists, NIMBY and BANANA loons, as well as the politicians.

And Steve, while you somewhat admit that you were a little out of bounds using the name “Comrade” you still could not resist to put the knife in by comparing my comment to “Stalinist words”, so, I guess you do not have the capacity to be decent in your replies to comments by others that disagree with you.

Well Herb what can I say? I still think your comment was reminiscent of Stalinist policies. Perhaps if you backed off that view....

Some sanity was restored to gasoline markets today, in which patches of good news allowed a more level-headed assessment of the size of the logistical challenges ahead. Both hope and despair can be found on the human dimension of the problem as well.

78% said the oil companies were price gouging
18 % said the price was about right.
4 % were not sure.

Now that the prices of oil and gasoline dropped dramatically today (9-2-05) Lets see if we see a price drop equal to the increase we saw on 9-1-05
( about .50 Cents per gallon).

I bet we don't see it.

Now that supply is back in line with demand and the price of oil is back down, I wonder what excuse the oil companies will use next to gouge everyone.

And Steve, while you somewhat admit that you were a little out of bounds using the name "Comrade" you still could not resist to put the knife in by comparing my comment to "Stalinist words", so, I guess you do not have the capacity to be decent in your replies to comments by others that disagree with you.

That would be a good idea...so nobody will actually get around to doing it.

Heck, even selecting one boutique blend would go along way towards reducing the volatility, but again a good idea, hence not going to be done.