Subject: Re: [Fot] Stations of yesteryear

From: Michael Porter <[email-masked]>
Date: Fri, 29 Mar 2013 15:07:41 -0600

On 3/29/2013 1:35 PM, [email-masked] wrote:
> In a message dated 03/29/2013 12:28:21 PM Central Standard Time,
> [email-masked] writes:
>
>
>> Remember also that the US was paying the arabs $5 buck for a barrel of
>> oil, not $91. (although I guess the amount are the same with the inflation)
>>
> Kas...
>
> Interesting observation, and if my high school 'ratio' math still works, if
> it was .299 a gallon for gas when oil was $5.00 a barrel, shouldn't we
> expect to pay $5.442 now?  I just filled my tank for $3.799 a gallon.  All
> things being relative...maybe we should not be complaining.
>
>

The problem is, as usual, more complicated than that.  First, if one is 
looking for a standard of measurement based on inflation and the cost of 
a barrel of oil, then one has to exclude changes in federal, state and 
local taxes.  Then one has to get the actual numbers more or less in 
line with the reality of the time frame, and then do some data smoothing 
to eliminate the peaks created by temporary shortages (the 1973 and 1978 
embargoes and withheld shipments, for example) and oil prices affected 
by predatory speculation (such as the $147/bbl spike recently).  You get 
something like this:

http://inflationdata.com/Inflation/Inflation_Rate/Gasoline_Inflation.asp

If we're talking about prices being affected in large part by Saudi 
Arabia, it's important to get the numbers in the timeline correct, 
because the establishment of OPEC price controls after 1973 changed the 
pricing schedules considerably.  Saudi oil was routinely purchased by 
the refiners for a wellhead price before shipping of $1.50/bbl, until 
the 1973 embargo.  Within six weeks of the beginning of the partial 
embargo by SA, that price was $6/bbl, and within four months, was 
$10/bbl. That alone is a 660% increase in the crude price in less than 
half a year.  At the beginning of the embargo, gas prices jumped from a 
nominal $.30/gal to $.60/gal, and stabilized in the low .50s/gal until 
the 1978 oil shock, where the price increased to ~ $2.25, adjusted for 
inflation.

Finally, one needs to look at crack differentials (price of all refined 
products combined per bbl of feedstock vs. crude oil feedstock price per 
bbl), which have been rising and, as well, understand that the NYMEX and 
London spot prices are more an indication of crude price trends in the 
market, rather than an actual current price paid by the majors, all of 
which tend to lock in production rates and prices for extended periods 
at prices lower than the spot market.  Going by crack differentials, the 
gross profits of the majors and inflation-adjusted pricing, gas prices 
are currently quite a bit higher than the historical average.

Cheers.

-- 

Michael Porter
Roswell, NM

Never let anyone drive you crazy when you know it's within walking distance....
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From: John Hasty <[email-masked]>
Date: Fri, 29 Mar 2013 18:04:40 -0400

Don't forget what Obama and his fellow travelers are doing to our country,
we'll be lucky if any of us can afford gas at all if they continue down the
road to bankruptcy.

Sent from my iPhone

> The problem is, as usual, more complicated than that.  First, if one is
looking for a standard of measurement based on inflation and the cost of a
barrel of oil, then one has to exclude changes in federal, state and local
taxes.  Then one has to get the actual numbers more or less in line with the
reality of the time frame, and then do some data smoothing to eliminate the
peaks created by temporary shortages (the 1973 and 1978 embargoes and withheld
shipments, for example) and oil prices affected by predatory speculation (such
as the $147/bbl spike recently).  You get something like this:
> If we're talking about prices being affected in large part by Saudi Arabia,
it's important to get the numbers in the timeline correct, because the
establishment of OPEC price controls after 1973 changed the pricing schedules
considerably.  Saudi oil was routinely purchased by the refiners for a
wellhead price before shipping of $1.50/bbl, until the 1973 embargo.  Within
six weeks of the beginning of the partial embargo by SA, that price was
$6/bbl, and within four months, was $10/bbl. That alone is a 660% increase in
the crude price in less than half a year.  At the beginning of the embargo,
gas prices jumped from a nominal $.30/gal to $.60/gal, and stabilized in the
low .50s/gal until the 1978 oil shock, where the price increased to ~ $2.25,
adjusted for inflation.
> Finally, one needs to look at crack differentials (price of all refined
products combined per bbl of feedstock vs. crude oil feedstock price per bbl),
which have been rising and, as well, understand that the NYMEX and London spot
prices are more an indication of crude price trends in the market, rather than
an actual current price paid by the majors, all of which tend to lock in
production rates and prices for extended periods at prices lower than the spot
market.  Going by crack differentials, the gross profits of the majors and
inflation-adjusted pricing, gas prices are currently quite a bit higher than
the historical average.
> Donate: http://www.team.net/donate.html
> Forums: http://www.team.net/forums
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From: Duncan Charlton <[email-masked]>
Date: Sat, 30 Mar 2013 13:28:12 -0500

Can we switch to religion now?
Alonzo Quijada

---

From: "Joe Curry" <[email-masked]>
Date: Sat, 30 Mar 2013 12:43:59 -0700

Absolutely!  I am sick and tired of hearing from a bunch of racist Obama
haters.  How quickly we forget what your beloved W did to our country!

-----Original Message-----
From: [email-masked] [mailto:[email-masked]] On
Behalf Of Duncan Charlton
Sent: Saturday, March 30, 2013 11:28 AM
To: FOT of
Subject: Re: [Fot] Stations of yesteryear

Archive: http://www.team.net/archive
http://autox.team.net/mailman/options/fot/[email-masked]
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From: Joe Alexander <[email-masked]>
Date: Sat, 30 Mar 2013 16:18:43 -0400 (EDT)

Ya!  How about that new Pope?!

Joe Alexander
A. R. E.
645 1st Street
Jesup, Iowa 50648
319.464.4711  (cell)
[email-masked]

---

From: Vince G <[email-masked]>
Date: Sat, 30 Mar 2013 17:36:24 -0400

Ya change the subject. Maybe Calendar Girls :)

Sent from my iPhone

>> we'll be lucky if any of us can afford gas at all if they continue down
the
http://autox.team.net/mailman/options/fot/[email-masked]
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From: Mike Munson <[email-masked]>
Date: Sun, 31 Mar 2013 05:04:00 -0700 (PDT)

________________________________

  I worked at a gas station in the 70's
when I was in high school but I don't remember the price of oil or gas.
What I
DO remember is cleaning the windshields of girls in mini-skirts.
It took
longer than the normal windshield but they were spotless when they drove off.
Mike  
Ya change the subject. Maybe Calendar Girls :)

Sent from my iPhone

On
2013-03-30, at 2:31 PM, "Duncan Charlton"
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From: "TeriAnn J. Wakeman" <[email-masked]>
Date: Sun, 31 Mar 2013 07:02:50 -0700

And I remember hitchhiking back in the early '70's wearing a very mini 
skirt. The guy who stopped to give me a lift was driving a Europa. I 
think he just wanted to see how a young woman with a 34 inch inseam and 
about the shortest miniskirt you could sit in and not get arrested  was 
going to climb down into a Europa.  He got lots a leg but I did know how 
to get into and out of Little British sports cars without showing more.

Mostly I remember my first ride in a Europa.

Back in the days of service stations I discovered that if I paid 
attention to the attendant and smiled I always knew all the car's fluids 
were full, the tyre pressures were correct and every window was clean 
when I drove off.

These days with cars you just drive for 10-15 years until they break 
then just throw them away even the service bays are things of the long 
ago past.

TeriAnn

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From: Bobby Whitehead <[email-masked]>
Date: Sun, 31 Mar 2013 08:29:06 -0700 (PDT)

Happy Easter to my FoT family...   Bobby

________________________________
From: Joe Alexander <[email-masked]>
To: [email-masked]; [email-masked]
Sent: Sat, March 30, 2013 3:18:59 PM
Subject: Re: [Fot] Stations of yesteryear

Joe Alexander
A. R. E.
645 1st Street
Jesup, Iowa 50648
319.464.4711  (cell)
[email-masked]

---

From: "Bill Tobin" <[email-masked]>
Date: Sat, 30 Mar 2013 18:37:12 -0400

Sorry, can't resist.
My investments, which took a major fatty TWICE under Dubya, have come back 
and then some under President Obama.
And your grandchildren will still be paying for his clusterf**k in Iraq. 
When I hear him (Obama) referred to as "That N....r" my blood boils. And I 
heard it recently.
Just as Dubya (he called himself that) was my president, Obama is indeed 
your president. Live with it.
End of rant.  Original Message ----- 
From: "John Hasty" <[email-masked]>
To: "Michael Porter" <[email-masked]>
Cc: <[email-masked]>
Sent: Friday, March 29, 2013 6:04 PM
Subject: Re: [Fot] Stations of yesteryear

>> Arabia,
> bbl),
> http://autox.team.net/mailman/options/fot/[email-masked]

---

From: John Hasty <[email-masked]>
Date: Sat, 30 Mar 2013 21:43:28 -0400

Good Lord...... I made no personal remark about the Pres. Where did you come
up with that idea?  He could be purple and it wouldn't make any difference to
me. It's his & the fellow liberals' policies that are driving us to
bankruptcy, you must realize his spending cannot continue.
Sent from my iPhone

> End of rant.  Original Message ----- From: "John Hasty" <[email-masked]>
Arabia,
bbl),

---

From: John Hasty <[email-masked]>
Date: Sun, 31 Mar 2013 11:58:30 -0400

Now here's a great change of subject!  Back to you Bobby & to all.

Sent from my iPhone

> Happy Easter to my FoT family...   Bobby
http://autox.team.net/mailman/options/fot/[email-masked]
http://autox.team.net/mailman/options/fot/[email-masked]

---

From: Bobby Whitehead <[email-masked]>
Date: Sun, 31 Mar 2013 12:39:21 -0700 (PDT)

Obama is our President case closed... BUT ALL our grandchildren will be paying 
for the debts incurred by him and his predecessors... it IS Easter Sunday, a day 
to reflect and honor Christ if you are a Christian... this is the last day I 
think we should be in a pissing match over politicians... we've got MSNBC and 
FOX if you want to find sides and rant and rave...

Happy Easter... now....back to my smoking lamb chops, baking a ham, drinking a 
beer, and celebrating being free...

Bobby Whitehead

________________________________
From: Bill Tobin <[email-masked]>
To: John Hasty <[email-masked]>; Michael Porter <[email-masked]>
Cc: [email-masked]
Sent: Sun, March 31, 2013 12:51:13 PM
Subject: Re: [Fot] Stations of yesteryear

Sorry, can't resist.
My investments, which took a major fatty TWICE under Dubya, have come back and 
then some under President Obama.
And your grandchildren will still be paying for his clusterf**k in Iraq. When I 
hear him (Obama) referred to as "That N....r" my blood boils. And I heard it 
recently.
Just as Dubya (he called himself that) was my president, Obama is indeed your 
president. Live with it.
End of rant.  
_______________________________________________
[email-masked]

---

From: "Joe Curry" <[email-masked]>
Date: Sun, 31 Mar 2013 12:46:41 -0700

Bobby,
Check your facts.  The current new spending is the lowest it has been in
years.  Obama's responsibility is to pay for what your beloved W. put on the
national credit card.  We can't get away from that.  So blaming Obama for
what is passed on to our grandchildren is false economics at best and
outright lies at worst.

Of course if you are a Teabagger, you won't look at the facts, only what
suits your own agenda and disregard the rest.  

The Republican agenda is to continue rewarding the richest in our society
with continued tax breaks and dismantle Medicare and Social Security all the
while protecting the Military-Industrial Complex from any cuts that would
affect their bloated budget.

Joe C.

-----Original Message-----
From: [email-masked] [mailto:[email-masked]] On
Behalf Of Bobby Whitehead
Sent: Sunday, March 31, 2013 12:39 PM
To: FoT Triumph
Subject: [Fot] Easter Sunday

Obama is our President case closed... BUT ALL our grandchildren will be
paying 
for the debts incurred by him and his predecessors... it IS Easter Sunday, a
day 
to reflect and honor Christ if you are a Christian... this is the last day I

think we should be in a pissing match over politicians... we've got MSNBC
and 
FOX if you want to find sides and rant and rave...

Happy Easter... now....back to my smoking lamb chops, baking a ham, drinking
a 
beer, and celebrating being free...

Bobby Whitehead

Sorry, can't resist.
and 
When I 

recently.
your