Saudi king tells everybody to get over it.

[factoryX]

This is one of only true things I have heard from oil prices on any type news. and it is coming from the guy who owns the oil.


http://www.breitbart.com/article.php?id=080701112646.vg97wut2&show_article=1

[Jim mac]

unfortunately for us, the us only taxes gas 18 cents a gallon, and the state only taxes it 18 cents a gallon. so for us, even if they go away with the taxes, its only going to bring it down to about 3.70 a gallon. Still cheap considering some of the EU contries. jim

[The Goat]

the kingdom is the leading exporter, but it is far from providing the majority.

[factoryX]

bull, 45% of the price on gas is from are goverment... we have gas taxes that are starting to get high just as high as the euro's are having. We have also begun to let the value of the $1 down so that people from other country's give us more $ when they buy are merchandise. but when people go to buy stuff from them it cost $100 more. I think it a little bs to think think it only $.27 a gallon is Saudi arabia though...

[Billy Golightly]

One of the main reasons oil is so expensive right now (In addition to the lack of supply to meet the demand) is that oil is traded in US dollars, around the world. If your getting oil out of Saudi, your getting $137 DOLLARS per barrel. It doesn't matter what country or where in the world your at. If your buying or selling oil, thats the way its traded. The dollar exchange wise with other foreign currencies is doing quite poorly over the last year or so. So the oil is traded at a higher dollar amount to make up for it.

Or atleast thats how it has been explained to me :)

[Tri-Z 250]

last time I checked Ohio puts an additional $1.25 per gal on top of the Gov. already inflated price. I can't wait till the bill shows up for dropping bombs in the cat box.

[The Goat]

gas prices without taxes are listed on most pumps...it's around 2.25 here.

and saudi arabia doesn't have the cheapest gas in the world...i think that award goes to Turkmenistan

[factoryX]

we have oil off the coast of cali and oregon and we are not aloud to touch it but it is okay that china does it..

[Billy Golightly]

same thing here in FL but its cuba instead. Thank the greenies and the liberal politicians :p

[Tri-ZNate]

The whole "U.S. monetary value is leading cause of high price" makes sence, but that must mean that acrossed the pond Britian must place some heavy taxes on fuel being as they pay almost double what we do (after $$$ exchange rates of course)

[The Goat]

well oil from the middle east must be traded in US currency if i'm not mistaken.

as our economy catches hell, it reverberates globally. as our food prices continue higher and higher...the world is feeling it.

a few friends of mine are cane farmers and they are strangely LOVING the higher prices. even with higher fuel prices, higher equipment prices, and higher wages, his family is making a killing. corn prices went up because of ethanol...and since sugarcane's high sugar content makes it another viable alcohol source...prices are going higher.

british citizens are taxed pretty damned heavily...check BBC to see current rates and such.

[TravEX]

Yeah, the greenies and the libs are keeping us from off-shore drilling.

Trivia question:

Do you know where OUR crude that we pump down from Alaska goes?..



















JAPAN!