gas prices, take 2 |
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gas prices, take 2 |
scotty914 |
Aug 29 2005, 02:39 PM
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#1
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suby torque rules Group: Members Posts: 1,528 Joined: 20-July 03 From: maryland, the land of 25 year Member No.: 924 |
okay with the hurrican i have been watching a lot of fox news. according to opec they will pump more oil to help. here is the crazy part opec is going to hold a meeting next month to figure out why gas prices are as high as they are, they stated the opec pumps and sells the oil at 12 per barrel.
so who ever is buying the oil at 12 per barrel is marking it up to a current price of 67 a barrel, i wonder if this is along the lines of enron, artificially marking up the oil. i have read a few things lately about oil wells, some thing like 70 % of the wells that were dry 10 to 20 years ago now have oil in them again, and but that they mean full flow pumping, not partial. right now there is a 55 billion gallon oil surpluse ( just heard it ) in storage in this country. |
scotty914 |
Aug 29 2005, 10:44 PM
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#2
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suby torque rules Group: Members Posts: 1,528 Joined: 20-July 03 From: maryland, the land of 25 year Member No.: 924 |
just do a google search on, oil wells filling, and you will see a lot of stuff showing it. i found out that 70 % of the running wells in texas only produce 9 barrels per day, or $ 630 a day at 70 per gallon, not a bad days income if you ask me. when i went to the WCC i saw them drilling new wells near my cousins, then i talked to some oil guys, they said you can buy an pump for about 250 bucks, that cost about 20 a day to run including maintance. i also found that 10 % of the final cost we see is advertising, 21 % is taxes, and roughly 50 % is crude costs. the final number i found was opec sells oil at 22 to 28 per barrel, so the 12 must be their cost. currently a decent refinery get about 60 % of the oil made in to gas so at the numbers i just used 70 a barrel they get 42 dollars worth of gas, or about 30 gallons, so cost per gallon is is about 1.4 per gallon, then we add 21 5 in tax, or 1.7 a gallon, then the ad stuff at 10 %, we are up to 1.81 or so, that leaves about a dollar profit, for some thing they sell millions of every day. the article i read says the delivery of the gas in considered in the 10 % for distribution. the cost to refine was not much either. and all this math does not include what they do with the other 40 % of the barrel |
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