A Quote by Elon Musk
The reality is gas prices should be much more expensive then they are because we're not incorporating the true damage to the environment and the hidden costs of mining oil and transporting it to the U.S. Whenever you have an unpriced externality, you have a bit of a market failure, to the degree that eternality remains unpriced.
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Think about the difference between how your local gas station and congressman respond to a spike in oil prices. One has the price placard outside changed to reflect the reality of the market within hours. The other sends out a press release, tries to organize a hearing, and at the end of amount accomplishes nothing. Meanwhile, the gas station has already made at least thirty additional adjustments to the realities of the market while your politico fails to get anything more than easy media.
To economists, prices serve as crucial signals to producers and consumers. In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors. But in a deregulated market, prices should vary with demand and supply.
I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.
Just from a political perspective, do you think the president of the United States going into re-election wants gas prices to go up higher? Look, here's the bottom line with respect to gas prices: I want gas prices lower because they hurt families.
If you opened up every single potential drilling opportunity in the United States, it would have the effect of lowering gas prices three cents, maybe. And that's because, of course, oil is traded on a global market.
It costs governments money to keep fuel prices low. Oil-rich Yemen, for instance, devotes 9 percent of its GDP to making sure its people don't riot when oil prices rise.
High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.
This morning, prompted by increasing concerns about terrorism, oil prices reached a record high as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."
Fracking is an amazing instance of discovery of many things that come together to make it much cheaper to extract oil and gas. In a world where burning oil and gas puts more and more carbon into the atmosphere, it's not actually the most important kind of innovation to have.
John Kerry's campaign attacks on gas prices ignore the reality of Kerry's long record of supporting higher gas prices and blocking the president's comprehensive energy plan.
The corn that makes the holy bread By which the soul of man is fed, The holy bread, the food unpriced, Thy everlasting mercy, Christ.
The reason gas prices are so high is because the oil is in Texas and Oklahoma and all the dipsticks are in Washington.
I do not think there should be a limit on the rig's liability, because they are sitting on top of unlimited amounts of oil, and thus, there could be an explosion occur that could do untold damage. ... The amount of damage that an offshore oil rig can do is infinite.
Availability of the best also is limited in our culture. And it's also extremely expensive. It's ridiculous. A kilogram of rose oil costs me very much. By the time it is shipped here and we pay tariffs, how much more do I have to charge the consumer? And then who could afford to buy it? That is why people sell synthetic rose and end up poisoning themselves. It shouldn't be that way.
Among the many important provisions in the energy bill are the creation of an estimated half million new jobs, increased oil production, blackout protection, controlling fertilizer costs by stabilizing natural gas prices and enacting new efficiency benchmarks.
The problem is, to have prices fall would work fine if we didn't have all these built in rigidities on downward prices, because then things don't adjust, and that's how we have recessions and depressions, is prices and costs don't adjust together and they get out of whack, and we end up with dislocations.
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