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

[Darwin333]

It could go higher than $5. If the dollar keeps dropping, and the economies in the East keep climbing, it surely will.

but our debts gonna be cheaper and our wages will rise to offset price increases!! Wait, there is no inflation silly, didn't you see the latest CPI report?

Don't worry though, the Fed has it all under control. They can easily end ZIRP and it will have no effect on the Federal Govs budget at all.

 

[Zebo]

It could go higher than $5. If the dollar keeps dropping, and the economies in the East keep climbing, it surely will.

Yup. Could be $1500 could be a million a gallon if we continue to print without backing it with labor or assets. All money is is a representation of labor and assets and as you dilute money people with labor and assets ask for more to accurately represent their labor and assets. Hence inflation. Thing is oil is the apex resource and inflation hits everything when it goes up. Everything around you is made from oil. Everything that gets to you is gotten to you with oil. Life as we know it is because of oil. When it climbs everything climbs.

 

[bamacre]

but our debts gonna be cheaper and our wages will rise to offset price increases!! Wait, there is no inflation silly, didn't you see the latest CPI report?

Don't worry though, the Fed has it all under control. They can easily end ZIRP and it will have no effect on the Federal Govs budget at all.

It is really odd. We heard for so long "housing prices won't drop," and all we hear now is "interest rates won't go up." The stupidity of people never ceases to amaze me.

 

[JSt0rm]

It is really odd. We heard for so long "housing prices won't drop," and all we hear now is "interest rates won't go up." The stupidity of people never ceases to amaze me.

what about all the chicken littles? surely they have been around a lot longer then the "housing prices wont drop" people. Maybe 2 sides of the same coin.

 

[IHateMyJob2004]

Why would drilling be needed?

There is too much inventory of oil as it is.

Stockpiles are at 30 plus year highs.

The trucking industry will move to natural gas when it becomes economically feasible. And it is the kind of switch that manufacturers are already ready for and trucking companies are willing to make the move.

The US is the Saudi Arabia of Natural Gas.

When the trucking industry switches, gas at the pump for daily drivers will drop due to reduced demand. And as oil dries up (admit that peak oil happened years ago) cars will move to natural gas or other. If natural gas, the distribution system across Americas highways will be set up for natural gas and a spider web like expansion will occur from cities out to the country over time.

Smart money is buying natural gas. To me, that is Sandridge Energy (ticker: SD).

 

[JSt0rm]

Smart money is buying natural gas. To me, that is Sandridge Energy (ticker: SD).

loloolol I take it you are fully vested at this point? :biggrin:

 

[dmcowen674]

Well it looks like Dave is only 5 years off with his prediction of $5 per gallon gas.

Awwww thank you

In the words of their hero on here "It's hard work being a prophet"

CBS here in Chicago is now talking about $5 and $6 gallon gas here

2-28-2010

http://chicago.cbslocal.com/2010/12/28/could-gas-prices-reach-5-a-gallon-in-chicago/

Could Gas Prices Reach $5 A Gallon In Chicago?


If you’ve been driving throughout the Chicago area, you know gas prices are jumping. But experts predict the worst is yet to come.

Gas prices are at their highest level in more than two years. In Chicago, it’s more than $3 a gallon.


We may soon look back at this time as the “good old days.”


In parts of Europe, like the Netherlands and Norway, gas is more than $6 a gallon.

 

[hal2kilo]

Let India and China fight over the last of the oil.

http://www.digitaltrends.com/lifestyle/americans-demand-for-gasoline-declining-permanently/?news=123

 

[dmcowen674]

http://finance.yahoo.com/news/Oil-Poised-to-Rally-Past-97-bloomberg-2561775941.html?x=0

Oil Poised to Rally Past $97 on Bullish Flag Breakout


Crude oil may rise to $97.90 a barrel after breaking higher from a “bullish flag” formation, according to a technical analysis by Kase & Company Inc.
February crude futures rising from the flag formation last week was “the most important factor” for the projected gain, said Dean Rogers, an analyst at the Albuquerque, New Mexico- based consulting firm. “The move up may be choppy, especially during the low-volume holiday week, but should test $94 over the next few weeks.”


A bullish flag pattern shows trading consolidating within a narrow range, preceded and followed by sharp rises. The latest flag formed from Dec. 8 through Dec. 20 was very similar to earlier flags that formed in September and October, both of which broke higher and went on to make new highs, Rogers said in an e-mail.
==============================================

"Bullish Flag" should be punishable by long jail time or at least severe beat down.

 

[Zebo]

Well the good thing is without jobs to go to you won't notice as much. Never-mind paper, corn, beans etc has gone up 50% since last year.

 

[Modelworks]

But there is plenty of oil, 80 years left of it according to the experts. No need to worry about oil prices there is plenty to go around.

Laugh at peak oil all you want, I'll be preparing for what is coming. Until people learn they cannot consume more resources than what they have and that infinite population growth is not sustainable things will continue to get worse.

 

[Modelworks]

Smart money is buying natural gas.

Smart money is investing in things that don't vanish once used.

 

[OutHouse]

But there is plenty of oil, 80 years left of it according to the experts. No need to worry about oil prices there is plenty to go around.

Laugh at peak oil all you want, I'll be preparing for what is coming. Until people learn they cannot consume more resources than what they have and that infinite population growth is not sustainable things will continue to get worse.

do you live in a bubble? with words like "they" "people" "consume" sounds like you are excluded from all of this. what do you drive to work? did use a plastic shampoo bottle this morning? if so then you are as bad as the rest of us.

 

[Modelworks]

do you live in a bubble? with words like "they" "people" "consume" sounds like you are excluded from all of this. what do you drive to work? did use a plastic shampoo bottle this morning? if so then you are as bad as the rest of us.

I don't drive, I walk. That is all part of moving away from oil. I have been working very hard to move away from oil requiring products. I don't buy food in plastic if I can get it in glass. I use paper instead of plastic if possible. I cut my demand for oil all I can.

 

[umbrella39]

Maybe we could do some drilling? Naw, too capitalistic...

Yeah that's going to lower the prices.

 

[Londo_Jowo]

Oil Poised to Rally Past $97 on Bullish Flag Breakout

OIL FUTURES: Crude Falls Below $90 Despite US Inventory Drop

http://online.wsj.com/article/BT-CO-20101230-705844.html

 

[IGBT]

Yeah that's going to lower the prices.

eco-KOOKS don't want any drilling anywhere. They want to de-industrialize the US. Total retrograde supported by a facade of solar panels/wind mills and false economic electric cars.

 

[dmcowen674]

OIL FUTURES: Crude Falls Below $90 Despite US Inventory Drop

http://online.wsj.com/article/BT-CO-20101230-705844.html

Did RYOFA?

Oil has surged for most of December as U.S. petroleum consumption ticked higher and traders looked forward to 2011, when oil is expected to touch $100 per barrel and perhaps go higher.

Rising oil prices have pushed gasoline pump prices higher.

Some analysts think the national average will hit $3.75 by spring.

 

[Londo_Jowo]

Did RYOFA?

Oil has surged for most of December as U.S. petroleum consumption ticked higher and traders looked forward to 2011, when oil is expected to touch $100 per barrel and perhaps go higher.

Rising oil prices have pushed gasoline pump prices higher.

Some analysts think the national average will hit $3.75 by spring.

I don't buy what you and the alarmist analysts are shoveling. Funny how oil dropped below the $90/barrel level today. Maybe they buyers realized that it wasn't the demand that was driving the gas reserves down but the oil companies reducing their tax liabilities instead.

 

[Capt Caveman]

I don't buy what you and the alarmist analysts are shoveling. Funny how oil dropped below the $90/barrel level today. Maybe they buyers realized that it wasn't the demand that was driving the gas reserves down but the oil companies reducing their tax liabilities instead.

Just ignore Dave. He's a liar and a moron. He has an old thread crying about how gas would hit $5/gallon by the end of 2008 and oil would hit $200/barrel. He would then lie about seeing gas at $4/gallon and would get caught when people posted actual gas prices from gas price websites.

He also has a thread in OT about having to sign a release form to buy Balsamic Vinegar at Target.

Delusional and stupid is a bad combination.

 

[umbrella39]

eco-KOOKS don't want any drilling anywhere. They want to de-industrialize the US. Total retrograde supported by a facade of solar panels/wind mills and false economic electric cars.

eco-RETARDS have a strong lobby in P&N. BTW - I think your phonograph is broke.

 

[Nemesis 1]

Leave for were . LOL . Opera is leaving us . NFL will likely strike I here gates is stepping down . What other rats are leaving this coming year. Better question were are they leaving to go. ARKS ??

 

[dmcowen674]

i don't buy what you and the alarmist analysts are shoveling. Funny how oil dropped below the $90/barrel level today. Maybe they buyers realized that it wasn't the demand that was driving the gas reserves down but the oil companies reducing their tax liabilities instead.

$90 != $60

 

[Londo_Jowo]

I filled up my tank this morning @ $2.79/gal.

 

[matt0611]

Inflation FTL + global economy slightly picking up, thats all I'm going to say.