Federal ban on offshore drilling should be lifted, McCain says

"Yes, but you will have to kiss the ring of the man."

I'm having enough problem trying to figure out where to stick the horn, on the goat or on the wagon, and you want me to kiss a ring.
Gees!

Yes, but you will have to kiss the ring of the man.

I now have my gasoline issues resolved. I just bought a goat and an American Flyer wagon, could you work on reducing my property taxes instead?

Hey buddy, you ask and you shall receive. Anything you want and it is yours. How about I do it for $2.50 a gallon for you? 72 virgins? What do you need.

Vote for the Ira T/Mikep/bigdaddy ticket!

I would vote for you guys in a New York minute if you could figure out how to lower the price of gas to $3.50 per gallon at all gas stations in Virginia Beach and surrounding areas within 6 months after you are elected. I loved your comments about how the system works for independents and large chains. I think you guys could be a formidable ticket for change. March on dudes!!

Then this "lib" won't be complaing.

That was a great reply. Got a good chuckle out of that. But, that is a valid point. I will try to be mindful of my steed’s excretements.

"Only problem with that is the libs would have a very difficult time trying to find something to complain about."

Being a "lib" my complaint would be if you didn't pick up after your horse. :)

I'm starting to like my Horse and Buggy idea. That would put them all out of business...UAE, Chavez, GWB gang, the whole kit-and-Kabutal. Only problem with that is the libs would have a very difficult time trying to find something to complain about.

My dream is a reality for the UAE. Have you seen the construction going on in Dubai? Where does that money come from? They were getting rich at $40 a barrel. The money is still pouring in, now from oil and tourism. It would be nice to have a chance to do that here.

I don't believe I've ever linked to an article before, but the Post had an interesting article a couple of weeks back regarding gas retailers' woes and how they were being squeezed by Exxon. Don't have a dog in this fight, just thought it was an interesting perspective on the people who sell us our gas and bear the brunt of our ire...they're getting whaled on on all fronts. http://www.washingtonpost.com/wp-dyn/content/article/2008/05/24/AR2008052401961.html

Let me add to it. The land/station owner/landlord knows exactly what numbers this location brings in. It is usually part of the lease that the owner can look at the 'tenants' receipts. They adjust the lease accordingly. However, they rarely adjust downwards. So, if you normally buy 2 tanks a week, and now you buy one, it is an idication of the market. So, as a 'tenant' I depend on gallon couint to pay my rent. If that decreases, I start paying my rent off of soda, beer, cigs, ect.. The margin is tight and the hours are long. Ever notice that the same guy always seems to be there(or a family member)? They cannot afford to pay the taxes and workers compensation on the employees! That is why the oil company/landlord/whatever chose to lease it to that guy. 80 hour weeks for 30K? No thanks.

Wal-Mart could sell gas for 50 cents a gallon if they wanted. Next time I find a full service Wawa I'll make sure I have Ira pump my gas.

I think the country would be better served if we had more control over the oil we use. If we were able to drill for oil off the coast, we would be less effected by the turmoil in the middle east. Not to mention we may get lucky and hit a large reserve, at which point we could use the oil revenue to subsidize our taxes. Maybe we could all live like an emir or even build some islands at the oceanfront.

Thanks, I'm just trying to get my mind rapped around all this.

I cannot tell you how, but I work in this industry. I assure you if Wawa wanted to lower the price they would. They tend to put their stations on established routes near other stations. Once the competition is gone, often the savings goes with it. If the location has less competition then the prices are less likely to be lower. What I am telling you is a fact. Pity the independent station owners right now. If you think the high prices are affecting you, its costing them everything. I can say this as an insider who oddly has very little financial risk in the matter. Do them a favor and go in and buy a drink.

It is hard to anticipate that fuel prices will double in 3 years. Since they had been relatively stable for 25 years prior to that. The higher gas prices effect everything we buy. Once the dollar regains strength vs the Euro the prices will "come down".
If the dollar had kept pace with the Euro , gas would be about $85 a barrel, which would put it closer to $2 than $4 at the pump.

Thanks Orion

"WaWa and other similiar dealers are a company that buys when it is low and uses this leverage to crush it's competition."

Ira, WaWa in Norfolk is one of the most expensive, and won't be crushing anyone. I guess it depends on their loaction.

"How do we use less fuel? Don't go to work, move? That doesn't help. The problem is that the prices jumped so quickly it puts people in a pinch. "

Right, think ahead. If you can't, just keep paying for it. Your ability to work around the problem is the key. The value of the dollar is linked to the value of our product.

The cost of gas at an individual station can be affected by the quality of the lease, the supplier, or how the owner or franchise buys the fuel. As I pointed out, WaWa and other similiar dealers are a company that buys when it is low and uses this leverage to crush it's competition. Independents do not have this ability. Most have taken on a lease that was written to make sure they made no money off of gas. 9 out of 10 times the hope is to make enough of gas to pay the rent. When people buy less gas due to pricing, they not only fall into the red, but the amount made on inside store sales falls creating a perfect storm. The lease does not decrease until it renews and can hopefully be renegotiated. That occurs or as some of us have seen you pull up to your station and ther eis a chain on the door. The next day it is open w/ some new people hoping for the Americ

C.JackCity's explaination, below, is the best. Local taxation is probably the best answer. If you are ever coming through the Greenbrier area, I've found the prices there to be the best in the area.

I understand what you are saying, but most of my family lives in Newport News, and they don't see the high prices we see here in Norfolk. How does geographic location play a role in this?

Each gas station pays different rent or property tax and sells different amounts of gas and/or has a more popular convenience store, etc. Not to mention some stations operate with a higher profit margin.

How do we use less fuel? Don't go to work, move? That doesn't help. The problem is that the prices jumped so quickly it puts people in a pinch.

Oil prices are artificially high becasue of a weak dollar, sorry but we need to raise the interest rates to make the dollar stronger.

georges61555 wrote:

I don't understand. Is each 7-11 on a different "lease"? I guess my question is if one 7-11 can charge $3.98 why can't the all?

All new 7-11's are franchises, I know a women who just sold her store in Chesapeake and semi-retired.

As far as the cost of gas, it's called free market. If you have five 7-11's in a three-mile radius, they will more than likely charge the same. If you have one gas station in a 100 mile radius they can charge what they want. Many of the uneducated call this gouging; it's called supply and demand.

Keep in mind; most "gas stations" are convenience stores because they make little to nothing on gas sales and rely on sodas, chips and hot dogs to make money...

I don't understand. Is each 7-11 on a different "lease"? I guess my question is if one 7-11 can charge $3.98 why can't the all?

That is not correct. It depends on their lease and the response of their oil supplier. 7-11 obviously has a better standing in the market share scenario than an independent. WaWa buys and stores their own fuel when it is low. Most stations buy off of daily sheets. I just wanted to point that out. You would have to be a complete fool to get in the business as a gasoline retailer right now.

Joanie: Um, conserve and reduce useage. Perfect alternatives such as nuclear. Is this a serious question?

TR: I do not need to agree w/ everything a candidate says. I cannot expect to agree w/ anyone on every single topic. At least McCain says something while Obama sits in the shadows waiting for a chance to snipe at others ideas. All the while offering impossible things to a legion of fools who want to believe the crap.

Rose: The reason we cannot recreate oil is because we cannot recreate time. Time is the most important ingredient. Your thought that we can drill ourselves out of a problem is shortsighted. In fact, it's impossible and is nothing more than kicking and screaming for a solution.

Several of you tout what we "need." This is not about our needs at the moment, it is about what you 'want.' We do not 'need' millions of cars on the road daily. We 'need' shipping and trucking. Allocate the resources where they are 'needed' and not 'wanted' and we will be ok in the short term.

There are many things that go into pricing of gas.....taxes are different in each city. How much rent each station pays, how much the wonderful shoppers steal from the stores have an effect on pricing and a store's bottom line.

We are charged whatever the market will allow. If we stop or slow our gas purchases, that will drive down prices.

Saturday I paid $3.98 a gal. for mid-grade gas in Portsmouth at a 7-11 store. In Norfolk the prices I saw ranged from $4.09 to $4.39 for the same mid-grade. If a 7-11 can charge $3.98 so can every other station.

We need to look at all different resources for energy, not just one or two. The French have had great success with their wind farms and they've proven to be very efficient for them. Solar farms will work in areas that get a great deal of sun such as the southwestern states. Nuclear? With all the waste that we still can't figure out what to do with piling up and it being a choice target for terrorists, until we figure out a safe way to dispose of it, we'd hold off on that one. Too much of the waste cannot at all be reused in anyway and has to be stored safely for thousands of years. I'm all for drilling off our coasts with how safe and sound the techniques are these days but I don't see any reason why it should take any ten years for the fuel to hit the markets. As for ethanol, it is NO solution: it hurts gas mileage and takes up needed corn. Other solutions also need to be examined and tried.

dude, really?

We all know that soylent green is the answer.

You said that in a way I couldn't. Well said!