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Re: How much oil in a BARREL ?
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Posted by 720Deere on June 27, 2005 at 17:25:44 from (70.17.225.246):
In Reply to: Re: How much oil in a BARREL ? posted by john in la on June 27, 2005 at 09:57:37:
So, if we are at $60 for 42 gallons of crude oil, we are in for a whopper. That's about $1.50 per gallon of crude. Last time I checked, the taxes are around $0.47 per gallon here in MD. That already has you up to $2.07/gal without shipping and refining costs. There is probably another $0.35/gal to cover those costs which would put us up around $2.42/gal without even considering that it takes more than 1 gal of crude to make a gallon of gasoline. It sounds like $3 gas is right around the corner and Mad Max is starting to not look like as much of a stupid concept as it once was. You soon won't be able to find locking gas caps on the shelf at the auto parts store and everybody will have a short piece of 3/8" hose and gas can in their trunk! It will cost twice as much to drive to McDonalds as it will to eat there. Demand is high so prices will never drop. OPEC is an assembly of all the scourge of the earth and they love every minute of this. Like was stated before, they got filthy rich selling $20/barrel oil for all those years how much do you think they are making know? The funniest thing about this situation is that people will whine and complain about $2/gal gas all the while drinking their $5/gal bottled water. There is nothing more plentiful on this earth than water! We drill wells in our yards and then pay a premium price to import what should come out of that well. It's like having your own oil well yet buying the crude from the Arabs for a ridiculous price.
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