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

[First]

^ Seriously don't understand how this mcowen troll is allowed to post.

 

[EagleKeeper]

Gas Buddy is reporting regular at 3.49-3.59 all over area.

You must be BS again.

 

[Engineer]

For the first time in 6 decades, US gas EXPORTS exceed imports:

http://www.npr.org/2011/12/29/144155269/gas-pains-u-s-diesel-gas-exports-surpass-imports?ft=1&f=1017

Useage is down 4.5% in gasoline year over year but diesel/jet fuel/home heating oil is up 4.5%. Over 1 million barrels per day of export of all refined oil base products (gas, diesel, etc).

 

[Born2bwire]

For the first time in 6 decades, US gas EXPORTS exceed imports:

http://www.npr.org/2011/12/29/144155269/gas-pains-u-s-diesel-gas-exports-surpass-imports?ft=1&f=1017

Useage is down 4.5% in gasoline year over year but diesel/jet fuel/home heating oil is up 4.5%. Over 1 million barrels per day of export of all refined oil base products (gas, diesel, etc).

Sweet.

 

[dmcowen674]

Define approaching and identify location please?

It's now $3.59 in the burbs and $3.79 or higher at stations in the city.

Stations out here west of the city were running around $3.23 to $3.33 yesterday and now today they are $3.55 to $3.59

What happened yesterday to cause the big jump?

I didn't see any big oil news.

 

[dmcowen674]

Gas Buddy is reporting regular at 3.49-3.59 all over area.

You must be BS again.

Yes, that is suburban prices. In the city of Chicago core stations are 20 cents or more higher.

In any case over the $3.50 mark again so heading back to $4

Enjoy

 

[dmcowen674]

For the first time in 6 decades, US gas EXPORTS exceed imports:

http://www.npr.org/2011/12/29/144155269/gas-pains-u-s-diesel-gas-exports-surpass-imports?ft=1&f=1017

Useage is down 4.5% in gasoline year over year but diesel/jet fuel/home heating oil is up 4.5%. Over 1 million barrels per day of export of all refined oil base products (gas, diesel, etc).

So now that all the old excuses are out the window U.S. consumers are now subsidizing the world. How cute

http://news.yahoo.com/first-gas-other-fuels-top-us-export-200739553.html

The U.S. is using less fuel because of a weak economy and more efficient cars and trucks. That allows refiners to sell more fuel to rapidly growing economies in Latin America, for example. In 2011, U.S. refiners exported 117 million gallons per day of gasoline, diesel, jet fuel and other petroleum products, up from 40 million gallons per day a decade earlier.


America's refiners have been eager to export to these markets: gasoline demand in the U.S. has been falling every year since 2007. It dropped by another 2.5 percent in 2011. With the economy struggling, motorists cut back. Also, cars and trucks have become more fuel-efficient and the government mandates the use of more corn-based ethanol fuel.


The last time the U.S. was a net exporter of fuels was 1949, when Harry Truman was president. That year, the U.S. exported 86 million barrels and imported 82 million barrels. In the first ten months of 2011, the nation exported 848 million barrels (worth $73.4 billion) and imported 750 million barrels.


There's at least one domestic downside to America's growing role as a fuel exporter.



Experts say the trend helps explain why U.S. motorists are paying more for gasoline.

 

[EagleKeeper]

It's now $3.59 in the burbs and $3.79 or higher at stations in the city.

Stations out here west of the city were running around $3.23 to $3.33 yesterday and now today they are $3.55 to $3.59

What happened yesterday to cause the big jump?

I didn't see any big oil news.

Speculation over Iran

 

[Doppel]

In fact, the huge bump mcowned refers to never happened. If you go back and count all the $.20 and $.30 nightly leaps in price it would be $10 a gallon there.

http://www.chicagogasprices.com/retail_price_chart.aspx

 

[dmcowen674]

Speculation over Iran

Did Iran block the Strait?

 

[dmcowen674]

It was a boom year for the Rich Republicans that own oil interests especially the ones on here.

$4 gas is predicted for the Country. Chicago is already almost there so obviously will be pushing $5 in Chicago once the rest of the country gets back up to $4.


12-31-2011

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

Oil price ending 2011 near $100 a barrel



Oil prices rise in 2011 for third year in a row; prices expected to keep climbing in 2012


The price of oil soared in 2011 and will finish about 19 percent higher, on average, after a volatile year dominated by concerns about global supplies.

And high oil and gasoline prices are expected to continue weighing on the economy as it struggles to grow in 2012.


"It's like leaving the parking brake on while you're trying to drive the economy forward," said Michael Lynch, president of Strategic Energy & Economic Research.

As oil prices rose this year, the global economy cut back on fuel consumption.

In the U.S., gasoline demand dropped by 2.5 percent overall in 2011, according to the Energy Department.

Analysts expect the average pump to rise to $4 a gallon again by spring.

 

[Doppel]

Gas is $3.53 in chicago.

http://www.chicagogasprices.com/

 

[Born2bwire]

Gas is $3.53 in chicago.

http://www.chicagogasprices.com/

That's only if you buy by the gallon. Crazy Davy buys by the teaspoon.

 

[Londo_Jowo]

It was a boom year for the Rich Republicans that own oil interests especially the ones on here.

$4 gas is predicted for the Country. Chicago is already almost there so obviously will be pushing $5 in Chicago once the rest of the country gets back up to $4.

Still below $3.00/gal here, guess the oil companies hate you and Chicago.

 

[GrGr]

So the US imports oil from Canada and Mexico, increasing the trade deficit, then refines the oil, with a bit of domestic oil, and sell it to Europe for larger profits. What a mad system. Americans lose, big oil wins.

 

[dmcowen674]

So the US imports oil from Canada and Mexico, increasing the trade deficit, then refines the oil, with a bit of domestic oil, and sell it to Europe for larger profits.

What a mad system.

Americans lose, big oil wins.

If you look at the thread there are a bunch of P&N posters that love it and I'm sure personally profit from this.

 

[keyed]

So the US imports oil from Canada and Mexico, increasing the trade deficit, then refines the oil, with a bit of domestic oil, and sell it to Europe for larger profits. What a mad system. Americans lose, big oil wins.

hmm..?? How do Americans lose exactly. The oil that we don't use becomes a value-added product that we profit from selling overseas.

What would you do with the excess refining capacity? If it isn't used or becomes unprofitable, refining companies would draw down refineries.

 

[dmcowen674]

hmm..?? How do Americans lose exactly. The oil that we don't use becomes a value-added product that we profit from selling overseas.

What would you do with the excess refining capacity?

If it isn't used or becomes unprofitable, refining companies would draw down refineries.

Um hello

Lower the cost of fuel back to reasonable levels

The high cost of fuel affects all Americans except the rich.

At least the Republican Oil supporters in here that kept saying there was a Refinery shortage because no new refineries have been built since 1979 have had their lying sack of shit pie holes shut permanently now.

 

[desy]

Don't be stupid
You import 10 million barrels of CRUDE oil consume most of it, but oil doesn't refine into the perfect quantities of each products consumption so you sell the few hundred thousand barrels of EXCESS refined product to other markets.

Base price of curde is one factor, refining margins another and taxes retail markup the third. Quit lumping the cost of gas as a function of all at the same time, sometimes price will go up despite the cost of crude going down or any combination of the various drivers. Its no conspiracy it is a product people sell for profit, if you don't like it don't buy it.

 

[werepossum]

For the first time in 6 decades, US gas EXPORTS exceed imports:

http://www.npr.org/2011/12/29/144155269/gas-pains-u-s-diesel-gas-exports-surpass-imports?ft=1&f=1017

Useage is down 4.5% in gasoline year over year but diesel/jet fuel/home heating oil is up 4.5%. Over 1 million barrels per day of export of all refined oil base products (gas, diesel, etc).

That's good news. It would be even better news if this gasoline were produced from American oil. I wonder why diesel/jet fuel/home heating oil usage is up?

 

[dmcowen674]

Originally Posted by Engineer
For the first time in 6 decades, US gas EXPORTS exceed imports:

http://www.npr.org/2011/12/29/144155...ts?ft=1&f=1017

Useage is down 4.5% in gasoline year over year but diesel/jet fuel/home heating oil is up 4.5%. Over 1 million barrels per day of export of all refined oil base products (gas, diesel, etc).

That's good news. It would be even better news if this gasoline were produced from American oil. I wonder why diesel/jet fuel/home heating oil usage is up?

On CBS news tonight the guy from Gas Buddy was interviewed.

He said Americans are using more gasoline causing a gas shortage contradicting all the energy reports.

Plus how can there be a shortage when reports just came out showing the number one export for the U.S. is gasoline?

So someone is lying as usual and the Republicans on here swear by Gas Buddy.

I'm going with that we are using less gasoline because so many gas guzzlers have come out of usage replaced with higher mileage cars and a ton of hybrids.

 

[dmcowen674]

Gas prices making top headlines in Chicago again.

Gas seems to be going up 10 cents a day now.

Up to $3.69 in the suburbs and $3.99 in the city.

Looks like will be over $4 shortly and heading back to $5 again.

They said expect record prices this summer.

That would mean $6 here in Chicago.

 

[guyver01]

Looks like will be over $4 shortly and heading back to $5 again.

good.

i paid $2.86 on my way to work tonight. i love that you're paying double.

 

[dmcowen674]

Oil climbing fast

1-3-2012

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

Oil jumps to near $101 amid rising Iran tensions



Oil jumps to near $101 in Asia on concern rising Iran tensions could threaten crude supplies


Oil prices jumped to near $101 a barrel Tuesday in Asia amid concerns that rising tensions between Western powers and Iran could lead to crude supply disruptions.

On Monday, Iran test-fired a surface-to-surface cruise missile

Iran's navy chief Adm. Habibollah Sayyari said the test showed the key oil passageway Strait of Hormuz is "completely under our control."

"Renewed rhetoric out of Iran could force another rush of geopolitical risk premium into the market," energy consultant Ritterbusch and Associates said in a report.

 

[Londo_Jowo]

Gas prices making top headlines in Chicago again.

Gas seems to be going up 10 cents a day now.

Up to $3.69 in the suburbs and $3.99 in the city.

Looks like will be over $4 shortly and heading back to $5 again.

They said expect record prices this summer.

That would mean $6 here in Chicago.

Must suck to be you. I paid $2.89/gal this morning on the way to work.