Why is the price of gas continually rising and how is this legal? Why is nobody doing anything about this?

Question

Why is the price of gas continually rising and how is this legal? Why is nobody doing anything about this?

Answer 1

I'm doing something. I ride my bicycle. I save money on gas and parking and have legs of steel.

Answer 2

Legal? why would capitalism be illegal?  Clearly this administration is messing with the gas prices, because it no longer follows the laws of supply and demand.  OPEC refuses to increase production because the price won't respond anyway due to Bush and his cronies artificially inflating the price.

Answer 3

because the oil co"s have figured out that the american consumer is pretty stupid. when they raise the price 10 cents we may grumble a little but soon we just shut up and pay it, then they raise it another 10 cents and the same thing happens. the only thing that will bring it down is to use a lot less, when the oil co.tanks are full the price will come down. then we can go buy big suv and start the cycle all over.

Answer 4

Why don't you do something.

Answer 5

The cost for a barrel of oil has doubled in the past few years. When we rely on a foreign commodity like oil, we have no control of the prices the Oil Producers set.

However, if you look at the price of the oil wholesale and add the refinery's profit margin we still end up with gasoline that is about $2.50 a gallon. It is the Federal, State, and Local taxes that are taking the big bite, especially here in California where Diesel is $4.09 a gallon now.

Answer 6

We need to get democrats and no few republicans out of the way so that oil companies can drill for more oil and build some more refineries. We also need to get on the politicians backsides about the EPA mandating formula changes 4x times a year and different for each geographic region.

Why is gas so expensive? well about 55% of the prices is fed, state and local taxes.

Government: its rarely the solution to economic problems buy nearly always part of the problem with them.

Answer 7

once Bracak Obama becomes the president, he will take troops out of Iraq, he will raise taxes (most likely), with that he would pay off out billions and billions of dollars worth of debt, that would make the value of our dollar rise since we have less debt, that would make the price of oil which is traded in U.S. dollars cost less, which would make gas cost less

the reason why gas is going up is because we are in so much debt because of the idiot bush, that the U.S. dollar is weak, and it cost more to get oil

Answer 8

Oil is determined by supply and demand.  Taxation of oil and gas comes from our federal government.  We pay for this in the form of a tax which only increases fuel price.  What is causing a run up in fuel costs is for one, opec is not raising output, this only adds to the suplly problem, therefore price goes up.  Another reason is that world investors are pumping money into the oil market which creates a price war for higher sale price on oil.  The reason for this is that our value of the dollar is low against major world currancies.  This adds to the problem that it only takes more of our us money to buy oil on the world market.  Hedge fund investors are dumping money into our weak dollar because for instance, the euro is at 1.50 or so to our 1 dollar.  This means that you have 50% more buying power on the euro so when you invest into oil and it keeps raising like it is you can make money hedging against your currency.  If feds continue to lower intrest rates this will only fuel the problem because it only makes our dollar cheaper for other national investors to invest in oil and make it rise even higher.  

An example of this currency deal is why is BMW slicing jobs in Germany right now.  That is because it is now expensive to do buisness in Germany be because of the high value of the euro.  BMW just announced that it is actually adding jobs here in the US because of the weak dollar here in the U.S.  So it is actualy cheaper to send jobs here than do buisness there at home.  

Same goes for investing in oil.  Don't worry though, we will see oil climb even higher, especially if the senate passes the tax on windfall profits from major oil companies and the feds start to lower our intrest rates even further.  I never seen yet a corporation pay tax imposed by governement regualtion.  We will end up paying that imposed tax, unless the senate or house imposes laws where this can not be a possiblity...

What a mess

Answer 9

There are all sorts of little answers to contribute to this but the bigger more significant one is simply THE WAR.  Which is also the reason for the US dollar for dropping so bad.  So whether it's legal or not, it has reached the point of no return and everyone will have to just suck it up and decide if they will stick with SUV's or trade them in for those little imports.  I personally drive a 1990 Dodge Ramcharger 4x4 with a guzzlin 360.  No way I'm replacing it for a Smart Car.

Answer 10

The ones who give you  hard time here are the little Republican sheep. They would give their first born to prove a Democrat wrong even when they are supporting a lie. Baa baa baa.