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

[Doppel]

Well they said they are shooting for $6 to $8 this year.

I would expect places like Chicago at $8 while Texans hang around $6 as usual.

Mcowned, the voices in your head are NOT a credible source on gas futures. There is no chance gas prices hit what the voices are telling you, so when they don't you will yet again have another notch in your belt of hilariously wrong predictions.

 

[EagleKeeper]

Didn't the first large gas spike occur when Bush Jr. was President?

Some people will tie themselves into pretzels to blame Obama for all of our problems.

Fuel bubble burst also under Bush Jr.
In 2006 I was able to get fuel for just over $1/gal.

In 2008 it had jumped to $4 gallon in the Bay area.
By the end of Oct it dropped below $3.

Signed purchase paperwork on my SU,V for ~$10K off, 2 days before the fuel bubble popped

 

[EagleKeeper]

Fuel prices in Chicago area are down $0.30 over past month

 

[dmcowen674]

Fuel prices in Chicago area are down $0.30 over past month

Where are you in Chicago?

It just dropped below $4 for the first time in a long time and not by 30 cents.

Are you calling the News Journalists, Gas Buddy and Oil Thug Industry Analysts wrong like lopped and Jowo?

Oh and they keep saying Refinery issues.

Tell me why again why it is my fault they are incompetent and deserve higher prices and profits for not being to do their jobs properly?

Also they say the refining system is "so complex and delicate" that if something goes wrong prices go up.

Well obviously it is in their best interests to have something "go wrong" all the fucking time.

Hell if I was in that position I would make sure everything is broken all the time like Jowo and lopped do too.

But alas I am not part of said thuggery.

I am not in that position, they are that's why I call them out on the thuggery.



3-11-2013

http://chicago.cbslocal.com/2013/03/11/chicago-area-gas-prices-begin-to-drop/


Chicago Area Gas Prices Begin To Drop



For the first time this year, Chicago area drivers are seeing some relief at the pump, as gas prices have started going down.


WBBM Newsradio’s Regine Schlesinger reports, since late December, gas prices have risen steadily, due to refinery issues; but now prices are falling in March.


According to GasBuddy.com, over the past week, the average price at the pump is down about 10 cents per gallon in the Chicago area, to just under $4 per gallon. The national average remains at $3.66.

Phil Flynn, an oil analyst at Price Futures Group, said the chief reason for the recent drop has been a reduction in the price of crude oil.

Flynn expects the downward trend to continue, but cautioned “the refining system in this country is so delicate right now, and being able to get the oil to the places it needs to be [is] a very complex process, so if something goes wrong, prices can always go up.”


Even with the increases this year in gas prices, the average price per gallon remains about 24 cents lower than this time last year.

 

[Londo_Jowo]

LMAO @ McOwned having to admit gas prices are dropping.

 

[OverVolt]

Fall a cent and rise a dollar, you'll show him!

 

[EagleKeeper]

Where are you in Chicago?
Lake/Cook county line off of I94
$3.69 vs $3.99 a month ago
Shell/Mobil/Speedway/BP - all within 2 miles of each other ($3.69-3.71).

It just dropped below $4 for the first time in a long time and not by 30 cents.
$3.89 outside of O'Hare on Saturday.

Are you calling the News Journalists, Gas Buddy and Oil Thug Industry Analysts wrong like lopped and Jowo?
Gas Buddy is showing the same numbers that I saw this AM

Comments in bold

On Thurs, I went into the Asian area (Lawrence off of I94/90 and see it below $4 at any number of stations

 

[Doppel]

Are you calling the News Journalists, Gas Buddy and Oil Thug Industry Analysts wrong like lopped and Jowo?

I'm not sure who lopped is, but there is a laughable hypocrisy here. You've had gasbuddy thrown in your face literally dozens if not hundreds of times, to your chagrin, and now pretend you are a champion of it. Mcowen, you really are one of a kind with your trolling.

 

[Engineer]

Gas down to a "still high" $3.59 in Lexington. I expect it to level off close to where it is and then resume upward for Spring/Summer. We will see.

A few stations jumped to $3.79-$3.81 today. As I expect, the rest will soon follow those upward....they "almost" always follow.

 

[dmcowen674]

A few stations jumped to $3.79-$3.81 today. As I expect, the rest will soon follow those upward....they "almost" always follow.

Oil back on the way up and you see the immediate result

Someone mentioned some idiots in here actually said prices have peaked and will go down. I can only guess who they were and most likely the ones I have on ignore.

3-11-2013

http://www.marketwatch.com/story/oi...-session-turn-higher-2013-03-11?siteid=yhoof2


Oil ends above $92 after late-session turn higher



Oil futures staged a late-session turnaround Monday, scoring a minor gain to finish above $92 a barrel for the first time this month.

 

[dmcowen674]

Originally Posted by dmcowen674

Are you calling the News Journalists, Gas Buddy and Oil Thug Industry Analysts wrong like lopped and Jowo?

Gas Buddy is showing the same numbers that I saw this AM

Comments in bold

On Thurs, I went into the Asian area (Lawrence off of I94/90 and see it below $4 at any number of stations

Yes it just dropped below $4 in Chicago area for first time in a loooong time.

So for the record you agree with Gas Buddy but disputing the reporting of the News Agencies and Oil/Gas Industry Thug Analysts?

and what credentials do you have?

 

[dmcowen674]

A few stations jumped to $3.79-$3.81 today. As I expect, the rest will soon follow those upward....they "almost" always follow.

On way to work and found the stations jumped 20 cents today back over $4 here in Chicago.

Where is the asshole that said prices were on the way down now?

 

[dmcowen674]

Hey what happened?

According to to the local Oil Thug Analyst on here oil was supposed to go down:

3-11-2013

http://seekingalpha.com/article/126...ties-crude-poised-to-move-higher?source=yahoo


Today In Commodities: Crude Poised To Move Higher



April Crude oil has finished higher the last 3 sessions and 4 out of the last 5 trading days. With prices settling above its 8 day MA the last 2 days I think we are poised to move higher short term. I've advised clients to start scaling back into bullish trade; long futures and selling out of the money calls 1:1. My initial objective is a trade north of $94/barrel.

 

[dmcowen674]

Nothing ever comes out from this Bullshit talk by Politicians

3-11-2013

http://www.reuters.com/article/2013...1?feedType=RSS&feedName=rbssEnergyNews&rpc=43

U.S. senator asks for data on sharp gasoline price rise



The head of the Senate Energy Committee on Monday asked the federal government's energy statistics arm to provide data explaining the recent spike in U.S. gasoline prices, which has taken place despite huge increases domestic oil production.


Senator Ron Wyden, a Democrat from Oregon, asked the Energy Information Administration for details about the rapid climb in gasoline costs as he prepares to hold a hearing on the subject at an unspecified date this spring.


The national price of gasoline began edging up in December, but surged near the end of January, jumping nearly 43 cents per gallon in four weeks, according the EIA data.


At the same time, U.S. oil output has been booming. In 2012 U.S. oil production posted its largest yearly increase since commercial crude oil development began in the 1850s.


"For many Americans, there appears to be a fundamental disconnect between these facts, especially when many families are also using less gasoline thanks to more efficient cars and trucks," Wyden said in a letter to EIA head Adam Sieminski.

U.S. retail gasoline prices have fallen for two straight weeks, dipping in the latest week by nearly 5 cents per gallon to $3.71, the EIA in its weekly report on Monday.

Submitting more than two dozen questions regarding U.S. oil supply and consumption, Wyden asked about trends in the export and import of oil products, changes in refinery capacity and the effect of gasoline prices on fuel use.


Wyden also questioned whether there have been any significant disruptions in petroleum transportation by pipeline, barge or rail that might have pushed up prices.


Noting that the government issued a waiver to the Jones Act to relieve a fuel supply crunch in the aftermath of Hurricane Sandy, Wyden asked whether waivers have been used to relieve other transportation constraints.


The Jones Act prohibits foreign-flagged vessels from shipping gasoline and other petroleum products between U.S. ports.


Some people have raised concerns that without a pipeline linking the U.S. East Coast to the shale boom in the center of the country, and given the lack of U.S. vessels to transport gasoline from Gulf of Mexico refineries, states on the East Coast will be forced to rely on expensive imported oil.

 

[dmcowen674]

What are the Oil/Gas Thugs going to do without Japan?

Of course jack up prices for Americans to make up the difference

3-12-2013

www.bloomberg.com/news/2013-03-12/japan-begins-test-production-of-frozen-gas-locked-under-seabed.html?cmpid=yhoo

Japan Begins Test Production of Frozen Gas Under Seabed



Japan, which imports almost all its energy, produced gas in the world’s first tests to extract the fuel from methane hydrate deposits under the seabed, Japan Oil, Gas & Metals National Corp. said in an e-mailed statement.



Deposits of methane hydrate, known as “burnable ice,” may be large enough to supply the country’s natural gas needs for about 100 years, according to JOGMEC. The government plans to develop technology to enable commercial use by fiscal 2018.

Methane hydrate may start a revolution in Japan as shale gas did in the U.S.

In 2008, JOGMEC extracted gas from methane hydrate in permafrost in northern Canada. It was the world’s first continuous and stable gas production from methane hydrate sediments, according to the company.

 

[Doppel]

6 posts in a row. Control yourself, mcowned.

 

[Londo_Jowo]

The Shell station I use price dropped $0.03/gallon overnight to $3.48/gal.

 

[Londo_Jowo]

What are the Oil/Gas Thugs going to do without Japan?

Of course jack up prices for Americans to make up the difference

3-12-2013

www.bloomberg.com/news/2013-03-12/japan-begins-test-production-of-frozen-gas-locked-under-seabed.html?cmpid=yhoo

Japan Begins Test Production of Frozen Gas Under Seabed



Japan, which imports almost all its energy, produced gas in the world’s first tests to extract the fuel from methane hydrate deposits under the seabed, Japan Oil, Gas & Metals National Corp. said in an e-mailed statement.



Deposits of methane hydrate, known as “burnable ice,” may be large enough to supply the country’s natural gas needs for about 100 years, according to JOGMEC. The government plans to develop technology to enable commercial use by fiscal 2018.

Methane hydrate may start a revolution in Japan as shale gas did in the U.S.

In 2008, JOGMEC extracted gas from methane hydrate in permafrost in northern Canada. It was the world’s first continuous and stable gas production from methane hydrate sediments, according to the company.

This natural gas, not gasoline. Japan is the largest buyer of Liquified Natural Gas (LNG) in the world. Since the Fukushima accident they require more gas to produce electricity. This source in the article above is located in Canada

Seems like you would be happy to see Japan source it LNG from Canada instead of the US exporting LNG to Japan. It sure bothered you that US was considering exporting LNG in the following post.

http://forums.anandtech.com/showpost.php?p=34716181&postcount=4423

You're also upset because the railroad companies are considering shifting to natural gas even though it may help ease the demand on diesel fuel in the US and result in lower diesel prices.

http://forums.anandtech.com/showpost.php?p=34716461&postcount=4425

 

[EagleKeeper]

On way to work and found the stations jumped 20 cents today back over $4 here in Chicago.

Saw the same here $0.20 last night compared to yesterday AM

 

[Engineer]

The Shell station I use price dropped $0.03/gallon overnight to $3.48/gal.

Gas in Winchester, KY went from $3.35 to $3.76 overnight. Two more Lexington stations (on way to work) went to $3.79.

 

[dmcowen674]

Originally Posted by Londo_Jowo
The Shell station I use price dropped $0.03/gallon overnight to $3.48/gal.

Gas in Winchester, KY went from $3.35 to $3.76 overnight. Two more Lexington stations (on way to work) went to $3.79.

Wow, a bigger jump than Chicago.

I'm sure Jowo will be calling you a liar.

 

[dmcowen674]

Originally Posted by dmcowen674
On way to work and found the stations jumped 20 cents today back over $4 here in Chicago.

Saw the same here $0.20 last night compared to yesterday AM

Shocked I tell ya shocked

What made you suddenly agree?

 

[Londo_Jowo]

I'm sure Jowo will be calling you a liar.

Why would I do that? He doesn't have the same history as you for stretching the truth almost daily.

 

[dmcowen674]

Oil rising fast

Crude Oil Apr 13 (CLJ13.NYM)

-NY Mercantile

93.03

0.97(1.05%) 12:06PM EDT


3-12-2013

http://finance.yahoo.com/q?s=clj13.nym

 

[Engineer]

All but one station between my home and my job have now jumped to $3.75-$3.81. Booooooo!