Got Gas? U.S. Economy to Worsen as Gas Prices Skyrocket

[Darwin333]

What's also funny is I never said or hinted that. In case u didn't know Obama wasn't in office until Jan 09. My point was Obama has done nothing to stifle oil production like the rabies infected GOP attack dogs are claiming.

How could you possibly know that when it takes many years to go from permit to production? If Obama is a two term president we "might" see the effects of his policies concerning oil and gas leases on Federal lands/water.

 

[Darwin333]

TransCanada plans for new, shorter US oil pipeline after Obama Keystone veto

http://www.foxnews.com/politics/201...anscanada-agrees-to-new-oil-pipeline-project/

Should be good for Texas and the gulf area.

Aw hell, Dave is going to have a cow. The only purpose of that pipeline is to divert oil from the Cushing area to the Gulf Coast, his gas is going to $12 a gallon as soon as its completed.

 

[Darwin333]

A 100% fan base. I'm doing better than Kim K then :thumbsup:

And you are almost as smart as her.

 

[dmcowen674]

Originally Posted by Londo_Jowo
TransCanada plans for new, shorter US oil pipeline after Obama Keystone veto

http://www.foxnews.com/politics/2012...eline-project/

Should be good for Texas and the gulf area.

Aw hell, Dave is going to have a cow. The only purpose of that pipeline is to divert oil from the Cushing area to the Gulf Coast, his gas is going to $12 a gallon as soon as its completed.

I posted about this a few pages back.

They actually predicted in the article gas prices to go to $20 in Chicago and midwest area that is cut off by that pipeline.

 

[dmcowen674]

Closing in on $6 fast in LA and Orlando

5-29-2012

http://www.losangelesgasprices.com/

$5.69

Chevron 811 W Olympic Blvd & Figueroa St



Los Angeles Aflie

51 minutes ago

http://orlandogasprices.com/


$5.80


Sun Gas 5600 Butler National Dr & S Semoran Blvd



Orlando - SE miamia2012
10 hours ago
update Suncoast Energys 5928 Butler National Dr & S Semoran Blvd

Chicago heading towards $4.50

$4.29 and $4.25


http://chicagogasprices.com/


CITGO 4750 W Lincoln Hwy & Cicero Ave(if reg credit, $3.99 cash)


Matteson ren0901

8 hours ago
update BP 1600 N Elston Ave & North Ave



Chicago - Central EmperorsFinest

8 hours ago
update BP 1607 W Fullerton Ave & Ashland Ave (Clybourn Ave)



Chicago - North maro35089
12 hours ago

 

[monovillage]

Is there some point to this?

 

[Doppel]

Is there some point to this?

Nope, despite running extremely close to getting banned some weeks back for his misrepresentation of a multitude of things and general terrible antisocial behavior, Dave has learned nothing. I believe he's unteachable.

 

[dmcowen674]

2-29-2012

http://finance.yahoo.com/news/oil-n...BzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

Oil near $107 after mixed US demand signs


Benchmark oil for April delivery was up 42 cents to $106.97 late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

Brent crude was up 80 cents to $122.35 per barrel in London.

Crude has jumped from $96 earlier this month amid growing tension over Iran's nuclear program. Investors will be closely watching the latest data on U.S gross domestic product and industrial production due to be released later Wednesday.

 

[Londo_Jowo]

Closing in on $6 fast in LA and Orlando

5-29-2012

http://www.losangelesgasprices.com/

$5.69

Chevron 811 W Olympic Blvd & Figueroa St



Los Angeles Aflie

51 minutes ago

http://orlandogasprices.com/


$5.80


Sun Gas 5600 Butler National Dr & S Semoran Blvd



Orlando - SE miamia2012
10 hours ago
update Suncoast Energys 5928 Butler National Dr & S Semoran Blvd

Chicago heading towards $4.50

$4.29 and $4.25


http://chicagogasprices.com/


CITGO 4750 W Lincoln Hwy & Cicero Ave(if reg credit, $3.99 cash)


Matteson ren0901

8 hours ago
update BP 1600 N Elston Ave & North Ave



Chicago - Central EmperorsFinest

8 hours ago
update BP 1607 W Fullerton Ave & Ashland Ave (Clybourn Ave)



Chicago - North maro35089
12 hours ago

Big shout out to McOwned!!!!! Saving consumers from the price gouging thieves. It so nice that the links he provided shows the pricing (much lower of course) of stations that are close by the station that gouging people.

 

[biostud]

Start the development more energy efficient economy to save $$$.

 

[dmcowen674]

2-28-2012

http://www.reuters.com/article/2012/02/28/usa-oil-spr-idUSL2E8DSEMC20120228

As gasoline prices surge, US eyes oil reserve release


The United States is considering a release of oil from its strategic reserves as one way to try to moderate the surging price of gasoline, Energy Secretary Steven Chu told reporters on Tuesday.

 

[dmcowen674]

2-28-2012

http://www.reuters.com/article/2012/02/28/us-ftc-oil-idUSL2E8DSETF20120228

US FTC opens investigation on oil prices


The U.S. Federal Trade Commission said on Tuesday it has opened a new investigation on whether oil producers, refiners, traders and others have manipulated petroleum prices.

The FTC has opened similar investigations in the past when oil prices were high. In September, the FTC ended one investigation by concluding crude prices were the main factor behind high gasoline prices.

 

[Londo_Jowo]

In September, the FTC ended one investigation by concluding crude prices were the main factor behind high gasoline prices

They needed an investigation to prove this?????

What will they find this time, instability in the Middle East causes oil prices to rise?

 

[The-Noid]

Spec longs increased $6B in CL last week.

They will unwind quickly when any kind of solution is reached in Iran and overshoot the price to downside like always.

Nothing new.

Either way I love stepping on the accelerator and hearing the sound of money exploding.

 

[OutHouse]

2-28-2012

http://www.reuters.com/article/2012/02/28/usa-oil-spr-idUSL2E8DSEMC20120228

As gasoline prices surge, US eyes oil reserve release


The United States is considering a release of oil from its strategic reserves as one way to try to moderate the surging price of gasoline, Energy Secretary Steven Chu told reporters on Tuesday.

thats a huge mistake. those strategic reserves are for a oil shortage. there is no oil shortage.

 

[dmcowen674]

This is the first time in a long time I have seen gas higher than diesel.

$3.99 for regular

$3.79 for diesel

 

[The-Noid]

thats a huge mistake. those strategic reserves are for a oil shortage. there is no oil shortage.

It fills spec longs and if done correctly can have a very big effect on the marginal buyer.

Even a small number 1-2 days (30MM Barrels) can have a major effect on the oil market. Commodities markets very much rely on marginal buyers over and over again.

You could take $10 out of a oil in a week with a rather small release as long as there is the implication there will be bigger releases.

What people that don't follow markets continually go back to is this idea that there is "no shortage." Everyone in the oil markets agrees with this, however markets are forward looking and marginal, meaning where am I going to get my next barrel of oil from. Even small shocks can have a major effect when as a whole we are pushing up against the 90MM bpd production limit of the world.

 

[fskimospy]

It fills spec longs and if done correctly can have a very big effect on the marginal buyer.

Even a small number 1-2 days (30MM Barrels) can have a major effect on the oil market. Commodities markets very much rely on marginal buyers over and over again.

You could take $10 out of a oil in a week with a rather small release as long as there is the implication there will be bigger releases.

What people that don't follow markets continually go back to is this idea that there is "no shortage." Everyone in the oil markets agrees with this, however markets are forward looking and marginal, meaning where am I going to get my next barrel of oil from. Even small shocks can have a major effect when as a whole we are pushing up against the 90MM bpd production limit of the world.

Exactly. The release isn't about the oil, it's about the signal it sends to oil markets that the US government views it as a priority worthy of concrete action.

 

[The-Noid]

Gold/Silver/Brent/WTI/Index Futures/European.US Credit all Lows of Day as the Bernank talks...

Monetary easing must have nothing to do with asset prices.

 

[monovillage]

thats a huge mistake. those strategic reserves are for a oil shortage. there is no oil shortage.

The release is a blatant political move to cover the Administrations ass.

 

[The-Noid]

The release is a blatant political move to cover the Administrations ass.

It covers the marginal buyer.

I actually don't mind SPR releases. You can make anything a political issue. Does it help the administration, probably. I would say the economic impact is > however.

 

[desy]

But then doesn't the govt have to buy again to refill driving the price higher down the road?
doesn't seem to be a solution.

Conventional oil peaked at 75 mbpd the rest is being made up by heavy oil tar sands biofules 'which everybody seems to hate' natural gas liquids
All of which cost more to produce 'cept NG currently', fuel won't be getting cheaper

 

[dmcowen674]

2-29-2012

http://money.cnn.com/2012/02/29/markets/gas_prices/index.htm?section=money_mostpopular

Gas prices spike 8% in February


February has been one heck of a month for American motorists, who have been hit with an 8% spike in the price of gas. And things are expected to get worse during the summer driving season, when gas prices could break their current record.

On Wednesday, the price of unleaded gasoline rose for the 22ndday in a row to a nationwide average of $3.73 per gallon, according to the motorist group AAA.

In places like Alaska, California and Hawaii, the price of gas has surpassed $4 a gallon.

 

[monovillage]

Energy Secretary Chu Admits Administration OK with High Gas Prices

http://news.yahoo.com/energy-secretary-chu-admits-administration-ok-high-gas-193900713.html

 

[dmcowen674]

Energy Secretary Chu Admits Administration OK with High Gas Prices

http://news.yahoo.com/energy-secretary-chu-admits-administration-ok-high-gas-193900713.html

Chu, along with the Obama administration, regards the spike in gas prices as a feature rather than a bug. High gas prices provide an incentive for alternate energy technology, a priority for the White House, and a decrease in reliance on oil for energy.

Absolutely correct.

Let's get gas to $20 gallon immediately to make it happen. :thumbsup: