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

[WhipperSnapper]

Here's a follow-up question. In light of the trend of increasing gas prices, did anyone here purchase a gas-guzzling large pickup truck or SUV in 2011? If you did or you didn't, did a concern about gasoline prices affect your decision or cross your mind?

 

[dmcowen674]

Gasoline did indeed go above $3, touched $4 (and above in some places), and has lingered at high levels for more than a year and a half.

I've been in North Georgia for a week now. When got here gas was $3.09 to $3.11 at the stations around.

This morning it jumped to $3.23 to $3.25

Must be back over $4 in Chicago

 

[Ronstang]

Here's a follow-up question. In light of the trend of increasing gas prices, did anyone here purchase a gas-guzzling large pickup truck or SUV in 2011? If you did or you didn't, did a concern about gasoline prices affect your decision or cross your mind?

I am about to buy one. In fact I might get one this week. I need a truck and I make enough money not to worry about the price of gas. It also won't be my only vehicle and I will be replacing my current daily driver with something more fuel efficient later this year. Until then the truck will be my daily driver.

 

[dmcowen674]

I need a truck and I make enough money not to worry about the price of gas.

At least you are honest about being rich :thumbsup:

 

[dmcowen674]

Land Oil & Gas leasing deals a complete sham by one of America's largest energy companies.

Color me surprised

12-26-2011

http://news.yahoo.com/photos/world-...rt-shellgames-chesapeake-photo-140918163.html


A barn is seen on the farm land of Mildred Lutz, 93, in Alanson, Michigan December 26, 2011. Lutz, along with many other farmers, had signed a lease with local brokers permitting drillers to tap natural gas and oil beneath the land, but had the lease voided by Northern Michigan Exploration LLC.


Northern has voided hundreds of land deals, and was indeed a facade - a shell company created so that one of America's largest energy companies could conceal its role in the leasing spree, a Reuters investigation has found. Oklahoma-based Chesapeake Energy Corp., the nation's second-largest gas driller, was behind the entire operation.


Picture taken December 26, 2011. To match Special Report SHELLGAMES/CHESAPEAKE REUTERS/Rebecca Cook (UNITED STATES - Tags: ENERGY BUSINESS)

 

[OutHouse]

2.98 today woohooo

 

[EagleKeeper]

Sams had it at $2.87 this past weekend back in Denver.

Even the expensive brands were at/under $2.99

 

[soundforbjt]

$3.25-$3.29 here

 

[dmcowen674]

War with Iran brewing

12-28-2011

http://news.yahoo.com/u-fifth-fleet-says-wont-allow-disruption-hormuz-150427092.html

U.S. Fifth Fleet says won't allow disruption in Hormuz



"The free flow of goods and services through the Strait of Hormuz is vital to regional and global prosperity," a spokesperson for the Bahrain-based fleet said in a written response to queries from Reuters about the possibility of Iran trying to close the waterway.

 

[Doppel]

War with Iran brewing

12-28-2011

http://news.yahoo.com/u-fifth-fleet-says-wont-allow-disruption-hormuz-150427092.html

U.S. Fifth Fleet says won't allow disruption in Hormuz



"The free flow of goods and services through the Strait of Hormuz is vital to regional and global prosperity," a spokesperson for the Bahrain-based fleet said in a written response to queries from Reuters about the possibility of Iran trying to close the waterway.

War is not brewing anymore than if I say I'm going to hitch a ride to the strait and close it with a fishing boat I buy. Iran never could close the strait and everybody including Iran knows it.

If Iran ever tries to close the strait of hormuz it will back down as soon as any meaningful military naval conflict occurs. Iran has no relevant navy and the fifth fleet is only 300 miles away.

 

[dmcowen674]

More on Iran threats

http://www.reuters.com/article/2011/12/27/us-iran-oil-hormuz-idUSTRE7BQ0I320111227

Iran threatened on Tuesday to stop the flow of oil through the Strait of Hormuz if foreign sanctions were imposed on its crude exports over its nuclear ambitions, a move that could trigger military conflict with economies dependent on Gulf oil.

"If they (the West) impose sanctions on Iran's oil exports, then even one drop of oil cannot flow from the Strait of Hormuz," the official Iranian news agency IRNA quoted Iran's First Vice President Mohammad Reza Rahimi as saying.

About a third of all sea-borne oil was shipped through the Strait of Hormuz in 2009, according to the U.S. Energy Information Administration (EIA), and U.S. warships patrol the area to ensure safe passage.


Most of the crude exported from Saudi Arabia, Iran, the United Arab Emirates, Kuwait and Iraq - together with nearly all the liquefied natural gas from lead exporter Qatar - must slip through the Strait of Hormuz, a 4-mile wide shipping channel between Oman and Iran.

Industry sources said on Tuesday No. 1 oil exporter Saudi Arabia and other Gulf OPEC states were ready to replace Iranian oil if further sanctions halt Iranian crude exports to Europe.


Iranian Oil Minister Rostam Qasemi had said that Saudi Arabia had promised not to replace Iranian crude if sanctions were imposed.


"No promise was made to Iran, it's very unlikely that Saudi Arabia would not fill a demand gap if sanctions are placed," an industry source familiar with the matter said.

Oil prices spiked on Tuesday, fuelled by fears of supply disruptions and Iranian naval exercises in a crucial oil shipping route

A prominent analyst said that if Iran did manage to shut down the Strait of Hormuz, the ensuing spike in oil prices could wreck the global economy, so the United States was likely to intervene to foil such a blockade in the first place.

"First, the U.S. will probably not allow Iran to close the Strait. That's a major economic thoroughfare and not just for oil. You shut that Strait and we are talking a major hit on many Middle East economies," said Carl Larry, president of Oil Outlooks in New York.


"Second, there is no way that the Saudis (alone) have enough oil or quality of oil to replace Iranian crude. Figure Saudi spare capacity is 2 to 4 million at best. Of that spare, about 1-2 million is real oil that is comparable out of Iran. Lose Iran, lose 3.5 million barrels per day of imports. No way."

 

[Doppel]

blah blah

Iran will do nothing.

 

[dmcowen674]

I said from the beginning the U.S. going into Afghanistan was for the oil just like Iraq but the P&N experts swore there was no oil there.

Well after spending trillions of dollars and so many lost soldiers lives China swoops in and gets the black gold from under our feet

12-29-2011

http://news.yahoo.com/afghanistan-signs-7-bn-oil-deal-china-102107384.html

Afghanistan signs $7 billion oil deal with China


Afghanistan on Wednesday signed an oil deal with China which could earn the war-torn country $7 billion over 25 years.

Lu Gong Xun, who is president of CNPC's international branch, said his company has agreed to build a refinery and was expected to invest about $400 million in the project, which will also create hundreds of local jobs.

Six oil deposits have been discovered in Afghanistan, including one elsewhere in the north estimated to be worth 1.8 billion barrels, as well as in Herat in the west, Helmand in the south and Paktia in the southeast.

 

[dmcowen674]

This will be a domino effect

12-29-2011

http://news.yahoo.com/sudan-asks-de...BzdGNhdAN1cwRwdANzdG9yeXBhZ2UEdGVzdAM-;_ylv=3

Sudan asks to deal with China in yuan



Sudan is in talks with China to see if the two countries can do business in Sudanese pounds and Chinese yuan, rather than U.S. dollars, Sudan's central bank governor said on Wednesday.

The Sudanese pound has weakened sharply against the dollar on the black market since South Sudan seceded in July, taking about three-quarters of the country's roughly 500,000 barrels per day of oil output - a major source of foreign currency.


China has been a major investor in both African countries in areas including construction and oil.

"The dollar has become weak and is deteriorating."

"We believe that very soon China will become the number one economic power in the world," Zubeir said.

Sudan was China's sixth biggest source of imported crude oil last year -- before the split -- when it supplied 12.6 million tonnes, compared with 44.6 million tonnes from the top supplier, Saudi Arabia.

 

[Doppel]

I said from the beginning the U.S. going into Afghanistan was for the oil just like Iraq but the P&N experts swore there was no oil there.

Well after spending trillions of dollars and so many lost soldiers lives China swoops in and gets the black gold from under our feet

12-29-2011

http://news.yahoo.com/afghanistan-signs-7-bn-oil-deal-china-102107384.html

Afghanistan signs $7 billion oil deal with China


Afghanistan on Wednesday signed an oil deal with China which could earn the war-torn country $7 billion over 25 years.

Lu Gong Xun, who is president of CNPC's international branch, said his company has agreed to build a refinery and was expected to invest about $400 million in the project, which will also create hundreds of local jobs.

Six oil deposits have been discovered in Afghanistan, including one elsewhere in the north estimated to be worth 1.8 billion barrels, as well as in Herat in the west, Helmand in the south and Paktia in the southeast.

7b over 25 years? Is your retardation genetic or the result of a trauma?

 

[EagleKeeper]

I said from the beginning the U.S. going into Afghanistan was for the oil just like Iraq but the P&N experts swore there was no oil there.

Well after spending trillions of dollars and so many lost soldiers lives China swoops in and gets the black gold from under our feet

12-29-2011

http://news.yahoo.com/afghanistan-signs-7-bn-oil-deal-china-102107384.html

Afghanistan signs $7 billion oil deal with China


Afghanistan on Wednesday signed an oil deal with China which could earn the war-torn country $7 billion over 25 years.

Lu Gong Xun, who is president of CNPC's international branch, said his company has agreed to build a refinery and was expected to invest about $400 million in the project, which will also create hundreds of local jobs.

Six oil deposits have been discovered in Afghanistan, including one elsewhere in the north estimated to be worth 1.8 billion barrels, as well as in Herat in the west, Helmand in the south and Paktia in the southeast.

I said from the beginning the U.S. going into Afghanistan was for the oil just like Iraq but the P&N experts swore there was no oil there.

BULL

There are 18 posts of yours that include the words Afghanistan and oil.
The ones that you actually tie the two words together based on verbiage and/or thread title are below. Not one of them you you come out and state that we went into Afghanistan for oil unless you count your trolling sarcasm.

Come on man get with the program

Oil and Opium are big money and must be protected at all costs.

O & O

Opium & Oil

Until recently there were no proven oil reserves there. Link
Natural gas and a pipeline through the country from other countries. Any oil reserves have only been discovered this year. for China to invest $400m into a system, indicates that there is not much at this point - they are hoping for more. $7B over 25 years is less than $250M/year. That gets pissed away every day.

 

[dmcowen674]

BULL

There are 18 posts of yours that include the words Afghanistan and oil.
The ones that you actually tie the two words together based on verbiage and/or thread title are below. Not one of them you you come out and state that we went into Afghanistan for oil unless you count your trolling sarcasm.

Originally Posted by dmcowen674
Come on man get with the program

Oil and Opium are big money and must be protected at all costs.
Quote:
Originally Posted by dmcowen674
O & O

Opium & Oil


Until recently there were no proven oil reserves there. Link

Very odd on your part.

You dispute I said we went there for the oil and yet you grab and post where I posted exactly that.

Very odd Ducks you Rich Radical Republicans are indeed

My Nostradamus powers are obviously making you nuts, perhaps you should put me on your ignore list for your own mental health.

 

[Born2bwire]

BULL

There are 18 posts of yours that include the words Afghanistan and oil.
The ones that you actually tie the two words together based on verbiage and/or thread title are below. Not one of them you you come out and state that we went into Afghanistan for oil unless you count your trolling sarcasm.


Until recently there were no proven oil reserves there. Link
Natural gas and a pipeline through the country from other countries. Any oil reserves have only been discovered this year. for China to invest $400m into a system, indicates that there is not much at this point - they are hoping for more. $7B over 25 years is less than $250M/year. That gets pissed away every day.

Me whenever I read any of Davy's posts: http://www.youtube.com/watch?v=qaMf9INTQjQ

 

[Londo_Jowo]

Me whenever I read any of Davy's posts: http://www.youtube.com/watch?v=qaMf9INTQjQ

When I read McOwned's posts I always remember this video.

http://www.youtube.com/watch?v=QFQyib5ZQZY

 

[Doppel]

<snip>

You call him out now? A few months ago I went through the first several hundred posts in this thread and posted the exact ones in which he flat-out, undeniably lied and it received no interest. I recall it was way over a dozen in just those few hundred. It's good to see his sh*t getting more attention from mods. DrPizza called him out a couple of days ago, too. Perhaps he can keep this trolling up for a little longer and get perma-banned.

 

[First]

Still $3.50-$3.54 for regular unleaded here in Los Angeles. I dream of sub-$3 gas though.

 

[First]

McOwned is a dirty loser liar.

Bump.

 

[dmcowen674]

Gas approaching $4 again in Chicago yet the U.S. is now shipping more gasoline than anything else

12-30-2011

http://finance.yahoo.com/news/first...BzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

In a first, gas and other fuels are top US export



For the first time in at least 21 years, the top export of the world's biggest gas guzzler, is — wait for it — fuel.

The United States is on pace this year to ship more gasoline, diesel and jet fuel than any other type of export, according to government records dating back to 1990.

2011 (Through October)
1 — Fuel: $73.4 billion;
2 — Aircraft: $70.8 billion;
3 — Motor Vehicles: $39.6 billion;
4 — Vacuum Tubes: $37.1 billion;
5 — Telecommunications Equipment: $33.2 billion.


2006
1 — Aircraft: $66.7 billion;
2 — Vacuum Tubes: $53 billion;
3 — Motor Vehicles: $35.4 billion;
4 — Vehicle Parts: $34 billion;
5 — Telecommunications Equipment: $28.8 billion.

 

[EagleKeeper]

You call him out now? A few months ago I went through the first several hundred posts in this thread and posted the exact ones in which he flat-out, undeniably lied and it received no interest. I recall it was way over a dozen in just those few hundred. It's good to see his sh*t getting more attention from mods. DrPizza called him out a couple of days ago, too. Perhaps he can keep this trolling up for a little longer and get perma-banned.

I was operating under a handicap. Title under my handle that has since been shed. When he re-reads his own posts, me ignores his own trolling.

 

[EagleKeeper]

Define approaching and identify location please?

Gas approaching $4 again in Chicago yet the U.S. is now shipping more gasoline than anything else

12-30-2011

http://finance.yahoo.com/news/first...BzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

In a first, gas and other fuels are top US export



For the first time in at least 21 years, the top export of the world's biggest gas guzzler, is — wait for it — fuel.

The United States is on pace this year to ship more gasoline, diesel and jet fuel than any other type of export, according to government records dating back to 1990.

2011 (Through October)
1 — Fuel: $73.4 billion;
2 — Aircraft: $70.8 billion;
3 — Motor Vehicles: $39.6 billion;
4 — Vacuum Tubes: $37.1 billion;
5 — Telecommunications Equipment: $33.2 billion.


2006
1 — Aircraft: $66.7 billion;
2 — Vacuum Tubes: $53 billion;
3 — Motor Vehicles: $35.4 billion;
4 — Vehicle Parts: $34 billion;
5 — Telecommunications Equipment: $28.8 billion.