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As soon as Chevy begins to produce the Volt, I am in line to order. I was a little more than disappointed when I read on it yesterday that their claims of 40 miles round trip on electric alone and 650 mile range on gas and electric (12 gallon tank) is based on paper as they still have to develop the BATTERY that can do this...Sounds like that might be a good thing to work on before publishing performance data. The interesting thing is the motor is not connected to the drivetrain at all. Its only purpose is to generate electrical charge to the battery when it is depleted to a certain point. In other words the car is 100% electric at all time, top speed of 120 mph and looks nice (at least the prototype)...But this is all speculation until the battery is developed. BTW, at current electricity prices, it will charge in 6 hours from a standard 120 plug in at a cost of $1.50. Of course once we all convert to this technology, electrical prices will sky rocket due to the demand...I think roughly 75% of Americans commute is less than 40 miles round trip so would not use a drop of gas!!!!!!!!That might lower demand for crude oil a bit don't you think? I hope I live to see the day where driving on fossil fuels is an antiquated event!!!!!!!!!!!!!!!!!!!!!!!!!!!
 

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Discussion Starter #62
It's funny you said that about electricity prices, PPL major supplier of electricity to everyone in Pennsylvania will be issuing a raise in prices of 37% in the next few months. PA decided to deregulate the industry....who the F*$* decides this nonsense?!?
 

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It's really getting out of hand. May 21-2008

NEW YORK (CNNMoney.com) -- Oil prices hit a fourth straight closing record Wednesday - shooting over $133 a barrel - after the government said crude and gasoline stockpiles decreased last week, surprising analysts who were expecting an increase.

U.S. light crude for July delivery settled at $133.17 a barrel, up $4.19, on the New York Mercantile Exchange. Prior to the 10:30 a.m. ET report, oil was down 29 cents to $128.69.

Over the last four days, oil has gained more than $9 per barrel.
 

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Just the other day, an NPR reporter mentioned that since crude oil has doubled in price, gasoline has "only" gone up a percentage (I don't remember but it was less than 50% for that period of time). Apparently some middle men/refiners are feeling the squeeze. This appears to mean that a stable oil price doesn't mean stable gasoline prices at least in the near future.

TM
 

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Senate hearings today, Exxon CEO was asked his annual compensation, $12.5 million...The other execs were asked and they said they could not recall. You heard me, could not recall what they are getting paid. One other said over 2 million, gee a bargain compared to 12.5 million.

Exxon made 40 billion dollars for their record profit. Lets see, lets cut that to a mere 20 billion profit so maybe we only pay 2 bucks a gallon...The other funny thing is there are like 5 big companies, Exxon, BP, Sunoco,etc. must be their expenses are all exactly the same since their prices for gas at the pumps are exactly the same...but wait, one pays the CEO 12.5 million, and the other 2 million, that doesn't seem the same to me, hmmm? Must all equal out somewhere since they all charge the same for gas, funny how that works, I am sure there is no price fixing here at all...

No I don't think we are getting screwed. Just because the companies are showing record 40 billion dollar profits, but a guy can't afford to fill up his car with 4 dollar a gallon gas to go to work...There was also a report that they have so much extra money that they are giving record amounts to the share holders vs. possibly investing into alternative energy sources. Good for the share holders, bad for the rest of us.
 

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I agree with everybody about the pain that the sudden rise is putting on my pocket book as well as everybody else's. Unfortunately in the kind of for our economy, the cost of gas has a large impact on the overall economy. However, as public corporations, these companies have obligations to their stock holders to maximize their profits. This is not unlike many of the companies that you and I all work for. If they were selling gadgets or widgets or Enclaves or anything else, their stockholders would demand that they do everything to maximize the profits for the shareholders goods. And if they don't do that, then they would be getting sued by their stockholders (note Yahoo was just recently sued by some of its stockholders for turning down the merger with Microsoft). Unfortunately for our sakes, the big oil companies just happen to have a product that is in very high demand. I just wish I had a product that had such a demand for it.
 

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Big Oil? Not so big.

kloogee said:
I agree with everybody about the pain that the sudden rise is putting on my pocket book as well as everybody else's. Unfortunately in the kind of for our economy, the cost of gas has a large impact on the overall economy. However, as public corporations, these companies have obligations to their stock holders to maximize their profits. This is not unlike many of the companies that you and I all work for. If they were selling gadgets or widgets or Enclaves or anything else, their stockholders would demand that they do everything to maximize the profits for the shareholders goods. And if they don't do that, then they would be getting sued by their stockholders (note Yahoo was just recently sued by some of its stockholders for turning down the merger with Microsoft). Unfortunately for our sakes, the big oil companies just happen to have a product that is in very high demand. I just wish I had a product that had such a demand for it.
If you have a retirement account that uses stocks, many buy oil company stocks so you probably do.

Singling out our oil companies for record profits? Too bad they are just small potatoes compared to 95% of oil assets owned by foreign government owned companies.

http://www.data360.org/graph_group.a...h_Group_Id=981

TM
 

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bsox said:
Senate hearings today, Exxon CEO was asked his annual compensation, $12.5 million...
I don't really have a comment about executive pay but here are some interesting facts that may provide a bit of perspective:

ExxonMobil is the 2nd largest corporation in the world (not just the US).
http://money.cnn.com/magazines/fortune/global500/2007/

The GDP for the United States last year was over $13 trillion.

Elvis Pressley has been dead for over 30 years but last year his income was $49 million.
http://www.forbes.com/2007/10/26/top-dead-celebrity-biz-media-deadcelebs07-cz_lg_1029celeb_slide_2.html?thisSpeed=20000

Simon Cowell, the second highest paid T.V. star in the U.S. made $45 million last year.

Every one of the top ten highest paid athletes in the U.S. earned more than Rex Tillerson (ExxonMobil’s CEO) last year.
http://www.shaunlow.com/50-highest-paid-american-athletes/
 

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Puts things in perspective, doesn't it?
You don't hear many people complaining about athlete or actors salaries.
 

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I understand your point and it is well taken, however, as Papopo points out, the comparisons are apples to oranges. You can choose to go to a concert or a game or not, gas in our country is not a luxury item, but a staple like bread and milk...Say it how you want, but the word RECORD profits is what gets me...Gas is at an all time high, while they are taking in record profits...They can lower the price and make normal profits so the average joe can get to work to make money to buy bread and milk. Think of the farmer, his gas prices will go up, but his gross product will not, the middle man will charge more, but the farmer will have to absorb the cost of higher fuel prices. How about marina owners, how many boats are going to be in the water this year with marine gas at 6-8 dollars per gallon. There is hardly an industry in this country not affected by gas prices....
 

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We have noticed a rise in Motor Cycle related deaths/accidents here in Florida since the gasoline prices jumped so high.
More people seem to be riding Motor Cycles because they are more fuel efficient.
We have already met the number of deaths for all of last year in our County!
 

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Along with the increase in fuel prices, so goes EVERYTHING else, since it's all sent all over the country with the use of fuel of some type. Any of you males go to the grocery store lately? I'm unsure if dairy prices, milk particularly have increased due to the price of fuel or due to the fact that they are using corn for biofuels. Maybe a combination? My husband doesn't go to the grocery store, but it's a real eye opener when you start to compare prices with a year ago! I'm still working, and I'll feel the pinch, but imagine those folks on a fixed income who have to pay the same prices for groceries as I do. Then think about what's going to happen when next winter rolls around and fuel oil prices have skyrocketed. (http://www.enclaveforum.net/index.php?topic=2935.0)

I don't use fuel oil, but I do use electricity. I'm sure that those fuel prices will affect the electric prices as well. I think that the wood stove is going to work quite well this winter...just don't know how it'll help with the AC! This is a never ending jolt to the economy.
 

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I am hoping that the current inflation news continues. An economist on NPR said that food and energy can fluctuate, but when durable goods and services start to go up is the time to raise the inflation red flag. It is used as a sign that the results of increases in fuel and food are taking root in the economy - i.e. not being compensated for by some other factors such as "flexibility in budgeting", productivity or efficiency.

That said, the price of gasoline is only half dependent on the price of crude, so even if crude oil levels off in price, gasoline may still be going up for a while.

TM
 

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Latest gas price for Canada $1.30 a liter = 4x 1.30 =$5.20 a gal. still a lot cheaper in USA.
I'm not looking forward to the price of gas in July & August because I know were all going to be in for a huge SHOCK!!!!!!!
It doesn't matter what Exon profits are $40 billion or $100 billion it's just idle talk that will never benefit the consumer.
 

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Kman63 said:
Latest gas price for Canada $1.30 a liter = 4x 1.30 =$5.20 a gal. still a lot cheaper in USA.
I'm not looking forward to the price of gas in July & August because I know were all going to be in for a huge SHOCK!!!!!!!
It doesn't matter what Exon profits are $40 billion or $100 billion it's just idle talk that will never benefit the consumer.
Well your wrong there, if you don't make your voice heard nothing gets done, that is the basis of our democracy.
 

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When I filled up yesterday I paid $3.80 per gallon. The pump cut me off at $50.00. Has this happened to anyone else yet?
 
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