Comments on: Gas Prices Continue to Fall, Break $3.10

By: Rob

Rob — Sat, 09 Jun 2007 23:09:04 +0000

It’s unlikely that oil refineries will be built. Oil companies behave rationally, there is unlikely to be any ability to supply more crude to refine, that which there is is heavily bid for by developing countries (especially China), and building a refinery is a massive investment. Besides the hard costs of equipment and land, the soft costs in this day and age (and Country of NIMBY litigants) are ridiculous. If somebody handed me all of BP, I wouldn’t build refineries either. The NPV an IRR calculations would make it an irrational decision.

By: Fuel Additive

Fuel Additive — Fri, 08 Jun 2007 20:58:12 +0000

I agree that this trend probably won’t continue. Give it a few weeks and things will probable be back to where they were or at least on their way back up. This is what happens when we don’t have enough refineries!

By: Adam Toler

Adam Toler — Fri, 08 Jun 2007 20:54:12 +0000

I bought gas in georgia for .99c in 2004. I though I was the only one outraged by the gas prices. We’ve become so resilient. We complain and then accept, complain and accept so they’ll never stop feeding us crap about what’s really going on.

On a brighter note,..I thought Id share this. Hillarious!!

http://www.shameyourride.com

By: Anonymous

Anonymous — Fri, 08 Jun 2007 16:51:44 +0000

Have People Come to Accept Paying $3 for Gas?

Last month, when gas prices broke the $3.10 mark for just the third time ever – it felt like everyone and their mother was outraged at how high gas prices had become. Now that prices are back down to $3.10, it seems like most of us have come to accept …