justaguy23456 asked:


1. Since finishing his term as U.S. President, George Bush Senior has worked as an independent consultant for the American Petroleum Institute (API) the trade association representing the U.S. petroleum industry including exploration and production, transportation, refining, and marketing. He negotiates contracts for oil imports into the U.S. and is paid a commission based on profit margin.
2. George Bush Junior is U.S. President.
3. Gas is over $4 and quickly heading to $5 a gallon.
Are these three things related or is it all just an amazing coincidence.

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Josh3 asked:


What are your feelings about gas prices ever returning to $2.99 a gallon or even $3.50 a gallon. Or will oil prices ever return to below $100.00 a barrell again anytime in the near future?

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LG asked:


I’ve read articles that say supply and demand are NOT the major drivers for today’s high oil price. It’s oil futures trading on unregulated markets and massive speculation in these markets.

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Observer asked:


However, when oil prices are down, it takes WEEKS for it to reflect on our gas prices?

There is something VERY shady about this!
Gary S- If inventory replacement cost are immediate, than gas prices should not just immediately be raised but, immediately be lowered as well. Correct?

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Frank F asked:


When we see this price go down, how soon until we can expect to see the price at the pump go down? Also, these price reports usually include “for (month) delivery”. Does that mean delivery to consumers, or delivery to the refineries? How does this delivery month affect prices at the pump?

I understand that outside influences can change the price at the pump (refinery capacity, strikes, tax changes, etc). But, if we strip these variables away, how much does the price of crude oil (per barrel) affect the price at the pump?

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