Gas Prices

[hollohas]

Unless the price of E85 was less than a cost ratio of 77% compared to regular gas, it wasn't worth it just based off the MPG aspect.

^This. The MPG my Flex Fuel Tundra gets on E85 is 75% of that on gas. I have yet to see any E85 that is 75% of the cost of gas. Costs more to run E85.

Anyone else think that it's a little funny that 5 years ago everyone said doing more drilling in the US wouldn't help gas prices becuase it would take 5-10 years to hit the market? Now we are 5 years later and US produced oil would be nice to have...oops.

[tonantius]

The oil prices right now are controlled by market speculation in the Oil Futures Market. Inventories of crude and refined gasoline are currently high. There is no good reason for oil prices to be high other than the futures market. It is tied into the Muslim unrest in Libya and Bahrain, especially Libya. Europe gets a lot of its oil from Libya, which has light sweet crude, the most expensive crude. It is almost like diesel fuel.

The U.S. gets most of its oil from itself, Canada and Mexico. Some from Venezuela, and the rest from other parts of the world.