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

[werepossum]

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).




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.

I've used GasBuddy as well as whatever other sites come up on a Bing search, but it's merely a tabulation of reported gas prices. I don't think GasBuddy would necessarily know anything about usage, although I could always be wrong.

I paid $3.049 this weekend at Costco in North Georgia, up about a nickle since just before Christmas. It jumped from $3.019 to $3.139 on my road in to town, but settled back down to around $3.049 - $3.069. Other parts of the Chattanooga area are as low as $3.019 and as high as $3.349 as reported by Chattanoogagasprices.com so your mileage may vary.

In other news, it was a brisk 25 F ride in on the bike this morning. Brrr! My 12 mile ride used approximately 1/4 gallon of regular, or about 75 cents. Not too bad, everything considered.

 

[desy]

I refuse to ride below freezing, actually it has to be fairly warm out

Politics affects the price of crude dmcowen no surprise there

 

[werepossum]

I refuse to ride below freezing, actually it has to be fairly warm out

Politics affects the price of crude dmcowen no surprise there

As long as there's no ice on the road, a thirty minute ride with a heavy leather (or pleather) jacket, ski bib overalls, and ski gloves is fairly pleasant down to about 10F. And it saves gas.

Of course, it saves gas when it's colder and/or wet too, but at a certain point I wuss out. Colder temperatures and/or longer drives are for those with full fairing bikes and heated clothing, and ice sucks for all riders. LOL

 

[dmcowen674]

Oil should not be a "commodity"

1-4-2012

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

Oil begins 2012 with a bang, prices up near 4 pct.


Oil prices shoot up almost 4 percent, as 2012 starts with concerns about Mideast supplies

Oil prices are soaring Tuesday as tensions grow over key Persian Gulf oil shipments. In midday trading benchmark crude jumped $3.55, or 3.6 percent, to $102.38 per barrel in New York.

Commodity prices tend to rise at the beginning of January as investors start the new year with a fresh round of trading.

 

[blackangst1]

Oil should not be a "commodity"

1-4-2012

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

Oil begins 2012 with a bang, prices up near 4 pct.


Oil prices shoot up almost 4 percent, as 2012 starts with concerns about Mideast supplies

Oil prices are soaring Tuesday as tensions grow over key Persian Gulf oil shipments. In midday trading benchmark crude jumped $3.55, or 3.6 percent, to $102.38 per barrel in New York.

Commodity prices tend to rise at the beginning of January as investors start the new year with a fresh round of trading.

Then neither should any other natural resource.

 

[EagleKeeper]

Oil should not be a "commodity"

1-4-2012

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

Oil begins 2012 with a bang, prices up near 4 pct.


Oil prices shoot up almost 4 percent, as 2012 starts with concerns about Mideast supplies

Oil prices are soaring Tuesday as tensions grow over key Persian Gulf oil shipments. In midday trading benchmark crude jumped $3.55, or 3.6 percent, to $102.38 per barrel in New York.

Commodity prices tend to rise at the beginning of January as investors start the new year with a fresh round of trading.

What else should it be?

It is a product of the world; not under any one country control.

 

[ElFenix]

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.

don't we have to hit 5 in order to be back to 5?

 

[blackangst1]

don't we have to hit 5 in order to be back to 5?

 

[Doppel]

Gas has never nationally cost $5 in the US ever, not in 2011, 2010, 2009, 2008, not ever ever ever.

 

[Londo_Jowo]

Poor, poor McOwned, it's so bad he even owns himself.

 

[dmcowen674]

don't we have to hit 5 in order to be back to 5?

Downtown Chicago stations already surpassed $5 during that last run up.

So this time $6 is the high benchmark.

 

[dmcowen674]

What else should it be?

It is a product of the world; not under any one country control.

A necessity like water, electricity and in many countries broadband access.

 

[EagleKeeper]

If the people can get by without it, it is not a necessity.

 

[dmcowen674]

If the people can get by without it, it is not a necessity.

Very sad

Try and cut off gasoline to all and watch what happens.

You are only talking about cutting it off for the non-rich.

So anti-American.

 

[IonusX]

If you think that gas prices have been increasing lately, it's not your imagination. $3/gallon used to be reserved for the summertime, but it's already here in December and it could get even higher before the year is out. Perhaps we'll cross the $4/gallon barrier this summer.

Higher gas prices should worsen an already awful U.S. economy and job market.

Gas Prices on Track for Unseasonable Spike

(Aren't you glad you bought that economy car now and not that big gas guzzling SUV you wanted?)

not to take wind from ur sails TC but umm dont gas prices skyrocket as your economy worsens.. you got it the other way around in the title..

 

[WhipperSnapper]

not to take wind from ur sails TC but umm dont gas prices skyrocket as your economy worsens.. you got it the other way around in the title..

What's wrong with the title? The title says that higher gas prices have a negative effect on the economy. Are you trying to say that higher gas prices are good for the economy?

 

[werepossum]

What's wrong with the title? The title says that higher gas prices have a negative effect on the economy. Are you trying to say that higher gas prices are good for the economy?

Nothing is wrong with the title; it is indisputably true. I started a reply to that affect before my better sense prevailed. There's no point in debating those who type phonetically. LOL

 

[Engineer]

Well shit...gas had fallen from the $3.39 rate of a few weeks ago to $3.19 here in Lexington. Today, boom....back to $3.49. Fucking high prices to work on any chance of an economic recovery. It killed us in the early 2000's...killed us in 2007-8 and it's now killing recovery around the US (or at least the average American).

 

[werepossum]

Well shit...gas had fallen from the $3.39 rate of a few weeks ago to $3.19 here in Lexington. Today, boom....back to $3.49. Fucking high prices to work on any chance of an economic recovery. It killed us in the early 2000's...killed us in 2007-8 and it's now killing recovery around the US (or at least the average American).

I don't think it's just high gas prices as much as that most of our oil is imported, so much of that money leaves our economy. If we had high gas prices because by law we could use only American oil, at least that money would recirculate. As things stand, probably a quarter of the money spent on gasoline leaves our economy.

High energy prices and a huge trade imbalance are a heavy double blow.

 

[dmcowen674]

Well shit...gas had fallen from the $3.39 rate of a few weeks ago to $3.19 here in Lexington. Today, boom....back to $3.49. Fucking high prices to work on any chance of an economic recovery. It killed us in the early 2000's...killed us in 2007-8 and it's now killing recovery around the US (or at least the average American).

You will be begging for $3.49 by the time summer rolls around.

Local new last night said the price run up a couple of years ago will pale in comparison to this year because corn subsidizes just expired.

 

[Engineer]

You will be begging for $3.49 by the time summer rolls around.

Local new last night said the price run up a couple of years ago will pale in comparison to this year because corn subsidizes just expired.

News said that would only add 4.5 cents to each gallon.

 

[dmcowen674]

Originally Posted by dmcowen674
You will be begging for $3.49 by the time summer rolls around.

Local new last night said the price run up a couple of years ago will pale in comparison to this year because corn subsidizes just expired.

News said that would only add 4.5 cents to each gallon.

Someone is lying as usual and it is not me like the oil thugs in here say.

Gas here was $3.55 in suburbs yesterday $3.79 in the city, today jumped to $3.69 in the burbs and now $3.99 in the city so we are back at $4.

Next stop obviously $5 once again and I'm sure that will be breached by March and heading towards $6 mark that Chicago PD did riot drills for last year.

 

[dmcowen674]

How high will oil go this time?

How high will gas go this time?

1-5-2012

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

Oil hovers near $103 amid mixed US supply signs


Oil hovers near $103 in Asia after supply report shows mixed signs about US crude demand

The American Petroleum Institute said late Wednesday that crude inventories fell 4.4 million barrels last week while analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., had predicted a decrease of 450,000 barrels.

However, inventories of gasoline added 3.4 million barrels last week while distillates rose 5.2 million barrels, the API said.


The Energy Department's Energy Information Administration reports its weekly supply data later Thursday.

Traders are also closely watching rising tensions between Iran and Western powers.

Brent crude could temporarily jump to as high as $210 if the strait were closed, Capital Economics said.

 

[Doppel]

Someone is lying as usual and it is not me like the oil thugs in here say.

Gas here was $3.55 in suburbs yesterday $3.79 in the city, today jumped to $3.69 in the burbs and now $3.99 in the city so we are back at $4.

Next stop obviously $5 once again and I'm sure that will be breached by March and heading towards $6 mark that Chicago PD did riot drills for last year.

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

 

[WhipperSnapper]

Today's gas-price-raising threat du jour is crazy Iranians and their threats to interfere with oil tanker shipping in the Strait of Hormuz.