Dan J.S. wrote:
wrote in message
oups.com...

Dan J.S. wrote:
wrote in message
oups.com...
Driving home this evening, I listened to a local talk radio station
discussing the probable fuel prices during the next few months. They
kept referring to an article in USA Today that projected $4/gallon gas
prices (would probably run $5 at a fuel dock).

Anybody actually see this story and know the details?

I can't find it online- does anybody have a website address to check?


All we have to do is let Israel to do what it needs to do, and oil prices
will be back in check. This Iran BS is getting old.

Hate to break it to you, Dan, but the price of crude oil (i.e. the
price per bbl paid to the companies that are owned 51% by Iran and 49%
by Big Oil), has very little to do with the price per gallon you will
pay to fill your car or boat. Remember last year? Big Oil was crying
that it's profits were being squeezed by the price of crude oil and/or
damage from Katrina, (and/or liberal environmental obstructionists
opposing the planting drilling rigs in the middle of national parks or
siting refineries across the street from grade schools). In reality,
the net profits from the prices that were raised much higher and raised
much faster than costs were accumulating at a rate that has been
usurpassed in human history. When you're pumping $5 gas at the marina,
don't even begin to blame it on Iran.


I hate to break it to you, but I sit in commodities daily, and about 10% of
the current $70 brent crude price is because of Iran. Futures markets are
out of control - and futures markets predict issues with Iran.

So the price of raw material is up about 10-15% from last winter. That
ought to adequately explain a 30-50% price increase at retail. :-)
(Sadly however, for just about enough of us it does). As far as the oil
companies are concerned, there is no "Iranian crisis", just a
convenient "Iranian excuse."