Who is benifiting from gas being at an all time high?

Question

Who is benifiting from gas being at an all time high?

Answer 1

Lexus, it's true that the oil companies are making record profits, but you fail to point out that the profits are being realized in the refining sector, not at the crude spot market.  Since the government and special interest groups make it so difficult for refiners to build refineries, there hasn't been a new refinery built in the US in 30+ years.  Add to that the uncertainty of the energy market ( in the 80's nobody wanted oil stocks and Houston was inches from bankruptcy ), and it's no wonder no oil companies want to invest 10+ billion dollars and 8+ years in planning and building a new refinery.

The end result is that refinery time is incredibly valuable and it's the only point in the system where money is being made domestically besides crude production.  Currently, it's more profitable to run someone else's crude through your refinery than to explore, drill and transport your own crude to your refinery.  

Obvioulsy, the countries which have national petroleum companies, notably Saudi Arabia, Venzeuela, China, stand to see insane profits right now.  It's a matter of pulling the crude out of the ground and selling it on the spot market, which is where oil prices are set.  No country or organization sets oil prices, it's all about how much buyers are willing to pay for the oil.  

When you see oil prices on TV, keep in mind you're seeing "benchmark" prices, typically for WTI (West Texas Intermediate) or Brent.  These are the best oils for refining into gasoline, so they're the highest priced.  Other oils are priced based on the relative lightness and sweetness to these 2, especially WTI.  Other oils that have heavier fractions or higher sulfur content ( sour ) cost more to refine and yield less gasoline, which makes them less valuable.

Answer 2

In theory, everyone, because if the price rises, people tend to drive less, which is better for the environment.

Answer 3

The Bush family, and the Saudi's are.

Answer 4

George Bush..... dont you know how many oil rigs he owns... he's using his gas making him rich!  I guess he thought since he is president then that makes his oil worth more

Answer 5

-   George Bush (oil tycoon)

-   GM (they make the big humveez out at war).

-   Opec, Exxon, Citgo, etc.  These guys have seen RECORD PROFITS yet they continue to make it seem like the prices are high for a reason.

The gas companies are making a killing.  And I don't mean your mom and pop gas stations, I mean the big oil companies.

Exxon, Shell, etc etc....

They're seeing record profits (go google it) and yet they continue to make excuses as to why gas prices are so high.

And the Opec guys and the Prince of Saudi Arabia or whatever the h**l, they're makin' a killing.

I believe it has a lot to do with everyone's hate for the US right now.

Go read the articles about the US DOLLAR loosing value.    Opec doesn't even want to deal with US dollars anymore they're more interested in EURO which has more value.

Not only that, but the Canadian dollar has more value then US dollar right now.

If we keep going down this path, no one will give two s**+*s about the US.  We'll be another nobody country.

Remember every world power must fall.  We can't remain #1 forever.  And with Bush in office it could be sooner than later.