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

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conehead433

Diamond Member
Dec 4, 2002
5,566
899
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Gas suddenly surged to $50 a gallon in Chicago today resulting in mass rioting and numerous suicides.
 
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Doppel

Lifer
Feb 5, 2011
13,306
3
0
and mcowned constantly assumes his one station near the airport sample is enough to indicate the entire country is $9 a gallon.

until he stops his half assed assumptions.... i aint gonna stop mine.
You're still small timing against mcowned until you start posting on a regular basis how gasoline just dropped $.20 or $.30 overnight and now they're paying you $15 to take a gallon off their hands and people are just driving around the block for a living burning gas to get paid for it. The counterweight to his rubbish.
 

guyver01

Lifer
Sep 25, 2000
22,135
5
61
Well.. while i was driving to the office today, a BP executive gave me a check for $10,000 ... and a "free gas for a year" card... since they're overstocked on gas... and they have record profits... they decided to 'share the wealth'
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Originally Posted by guyver01
and mcowned constantly assumes his one station near the airport sample is enough to indicate the entire country is $9 a gallon.

until he stops his half assed assumptions.... i aint gonna stop mine.


Fair enough I guess. :\

Actually when idiots like that make a post like that show they know absolutely nothing about Chicago and certainly no business commenting.

The airport is outside of city core and the stations around the airport actually have the lowest prices in the Chicagoland area. CBS news radio station 780am and 105.9FM WBBM gives the lowest prices at 37 mins past the hour and most of the time one of the stations featured is near the airport either the Speedway or Thortons near Manheim Rd and Irving Park Rd.

The only asses posting are the ones disputing the facts.

So you have to wonder when they are not even here why are they disputing so hard?

What are they trying to personally gain?
 

desy

Diamond Member
Jan 13, 2000
5,442
211
106
"But there is no shortage of oil anywhere.
Prices are high strictly because of greed"

Then don't buy any in fact once the economy recovers and demand goes up again don't be surprise if oil makes it to 200 a barrel, its becoming ever harder to produce oil at the level mankind consumes it.

"Now if they would just let the tar sand oil pipeline be built, oil prices are going to go to rock bottom."

Well no, the keystone pipline will ensure some stability of supply, oil has to be at a certain price for it to be profitable from that supply, if the price collapses they will just stop producing until the price recovers
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
"But there is no shortage of oil anywhere.
Prices are high strictly because of greed"

Then don't buy any in fact once the economy recovers and demand goes up again don't be surprise if oil makes it to 200 a barrel, its becoming ever harder to produce oil at the level mankind consumes it.

"Now if they would just let the tar sand oil pipeline be built, oil prices are going to go to rock bottom."

Well no, the keystone pipline will ensure some stability of supply, oil has to be at a certain price for it to be profitable from that supply, if the price collapses they will just stop producing until the price recovers

Wow, how many accounts do you have and how much are you getting paid?

You just posted the same thing as iGas in Off Topic.
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
Then don't buy any in fact once the economy recovers and demand goes up again don't be surprise if oil makes it to 200 a barrel, its becoming ever harder to produce oil at the level mankind consumes it.

There will be no economic recovery if oil rises much more than what it is, much less $200 per barrel.
 

desy

Diamond Member
Jan 13, 2000
5,442
211
106
I know real catch 22
The charts show everytime oil reaches around the level it is now the economy collapses.
I didn't mean sustained at 200, and its probably one of the reasons the recovery is still so slow. Too much disposable income going into oil/gas meaning Billions out of the economy because too much is imported instead of helping to drive it
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
I know real catch 22
The charts show everytime oil reaches around the level it is now the economy collapses.
I didn't mean sustained at 200, and its probably one of the reasons the recovery is still so slow. Too much disposable income going into oil/gas meaning Billions out of the economy because too much is imported instead of helping to drive it

Well, the fact that refined gas is now our number one export should tell you something....gas can't drop as demand will be kept high by those willing to ship it out of the country to the highest bidder (easier still if the dollar is very weak).
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Well, the fact that refined gas is now our number one export should tell you something....gas can't drop as demand will be kept high by those willing to ship it out of the country to the highest bidder (easier still if the dollar is very weak).

The deck is stacked against Americans by the Corporations operating on it's own soil and they are finally starting to wake up and realize it thanks to people like you and I.

Remember for how many years up until the last couple how the oil supporters on here kept insisting it was supply and demand.

Their lying asses have been smacked down permanently now.

It took nearly a decade but we prevailed on exposing the America haters for what they are.

Congrats
 

desy

Diamond Member
Jan 13, 2000
5,442
211
106
The US don't export sh!t
It consumes 20 Million Barrels a day you have to export some gas because crude doesnt' refine into the perfect ratios of heating oil, plastics ,aviation fuel, diesel, and gasoline required. Gasoline demand is down but thats not the only product crude makes so they pretty much have to export it.
The fact there is a market for it should tell dmcowen its a GLOBAL commodity of which big oil companies aren't even 1/3 of the players. Country nationals control most of the production, demand sinks domestically no problem lots of buyers out there at this price

That picture is octane ratings not ethanol content, regular gas is 85 octane 91 is premium
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
The US don't export sh!t
It consumes 20 Million Barrels a day you have to export some gas because crude doesnt' refine into the perfect ratios of heating oil, plastics ,aviation fuel, diesel, and gasoline required. Gasoline demand is down but thats not the only product crude makes so they pretty much have to export it.
The fact there is a market for it should tell dmcowen its a GLOBAL commodity of which big oil companies aren't even 1/3 of the players. Country nationals control most of the production, demand sinks domestically no problem lots of buyers out there at this price

That picture is octane ratings not ethanol content, regular gas is 85 octane 91 is premium

Regular is 87 octane. 85 octane is sub-grade gasoline.

http://money.cnn.com/2011/12/05/news/economy/gasoline_export/index.htm?hpt=hp_t2

The country exported 430,000 more barrels of gasoline a day than it imported in September, according to the U.S. Energy Information Administration. That is about twice the amount at the start of the year, and experts and industry insiders say the trend is here to stay.

:hmm:

Oh, and consumption is far down from the 20 million barrels per day of the peak in the mid 2000's. IIRC, it's down to 16 million barrels per day but I'll look it up...

Edit: Latest I could find was 18.5 million barrels per day and demand is decreasing year over year.
 
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desy

Diamond Member
Jan 13, 2000
5,442
211
106
The Energy Information Administration said inventories of crude oil and key refined petroleum products in the U.S., the world's biggest oil consumer, rose far more than expected last week. The stockbuilds came as total demand in the week ended Dec. 30 slumped to a 14-year low for the last week of the year. At just over 18 million barrels a day, U.S. oil use was 1 million barrels a day below the year-earlier level.

So 18 and thats the lowest its been in 14 yrs won't take much to drive it back to 20, actually winter is tradtionally low so summer will have it to 20
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
So 18 and thats the lowest its been in 14 yrs won't take much to drive it back to 20

and as more and more of the higher MPG cars hit the road, it won't take much to drive it to 17 million barrels per day either. Maybe the economy is going to boom soon driving the usage up but I wouldn't hold my breath.

By the way, we use 18 million barrels per day and export over 1 million of refined products per day now. Sounds to me like the US is already at 17 million barrels of "used in this country" oil per day and the rest is going elsewhere.
 

desy

Diamond Member
Jan 13, 2000
5,442
211
106
I'm confused by the point?

You still import about 10 million barrels and produce 10 million raw crude
For ease of math about 500,000 is nothing, gasoine is about half a barel of oil still means you consume the lions share of it , you would make about 10million barrels of gas a day, export 5%, 95% is still consumed, you also export tractors and autos and software
Whats the problem? if anything it will help the trade imbalance
 
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Engineer

Elite Member
Oct 9, 1999
39,230
701
126
I'm confused by the point?

You still import about 10 million barrels and produce 10 million raw crude
For ease of math about 500,000 is nothing, gasoine is about half a barel of oil still means you consume the lions share of it , you would make about 10million barrels of gas a day, export 5%, 95% is still consumed, you also export tractors and autos and software
Whats the problem?

No problem. You said that we didn't export shit. I say we are a net exporter of "refined gasoline" as we export more "refined gasoline" than we "import". Sure, we use more than we export but we refine that here. Regardless, refined products are our #1 export. Sure, oil is probably our #1 import but that doesn't change the fact of our exports. That would be like saying we don't export cars at all because we had to import the steel to make them. The "value added" function of refining changes it.

Regardless, maybe we're hung up on semantics. US oil and gasoline usage is going down and prices are going up. Kicks the economy in the nuts.
 

guyver01

Lifer
Sep 25, 2000
22,135
5
61
Uh...would you really want to put 85 in your tank? Will most cars run on 85?

yes, and yes


In the US octane rating is displayed in AKI. In the Rocky Mountain (high elevation) states, 85 AKI (90 RON) is the minimum octane, and 91 AKI (95 RON) is the maximum octane available in fuel.

The reason for this is that in higher-elevation areas, a typical naturally aspirated engine draws in less air mass per cycle because of the reduced density of the atmosphere. This directly translates to less fuel and reduced absolute compression in the cylinder, therefore deterring knock.

It is safe to fill a carbureted car that normally takes 87 AKI fuel at sea level with 85 AKI fuel in the mountains, but at sea level the fuel may cause damage to the engine.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
The US don't export sh!t

It consumes 20 Million Barrels a day you have to export some gas because crude doesnt' refine into the perfect ratios of heating oil, plastics ,aviation fuel, diesel, and gasoline required.

Gasoline demand is down but thats not the only product crude makes so they pretty much have to export it.

The fact there is a market for it should tell dmcowen its a GLOBAL commodity of which big oil companies aren't even 1/3 of the players. Country nationals control most of the production, demand sinks domestically no problem lots of buyers out there at this price

That picture is octane ratings not ethanol content, regular gas is 85 octane 91 is premium

Quoted and Bolded this entire piece of lying America hating trash.
 

guyver01

Lifer
Sep 25, 2000
22,135
5
61
So you have to wonder when they are not even here why are they disputing so hard?


What are they trying to personally gain?


What are you trying to gain in..

Wisconsin?
http://forums.anandtech.com/showthread.php?t=2206609

Iran?
http://forums.anandtech.com/showthread.php?t=2216960

Sprint?
http://forums.anandtech.com/showthread.php?t=2217028

Ohio?
http://forums.anandtech.com/showthread.php?t=2216736

Verizon?
http://forums.anandtech.com/showthread.php?t=2216104


Are you in all those places??? Do you use every company?
 

desy

Diamond Member
Jan 13, 2000
5,442
211
106
Its not hatefull and its not lying its merely the facts.
Don't get confused facing reality can be hard.

All right here from the Wall street journal
http://online.wsj.com/article/BT-CO-20120105-712141.html

Traders and analysts estimated that oil prices currently include a $5 to $10 premium on uncertainty over the Iran issue. Kyle Cooper, managing partner at IAF Energy Advisors in Houston, said that will continue to underpin U.S. prices near $100, even in the face of "horrific" U.S. demand data.

"The demand picture is dismal" in the U.S., Cooper said. "But from a trading standpoint, it is very difficult to be short," or take a market position that assumes a decline in prices. "

Fact is oil companies don't have much control over world reserves, Most Middle East govt's own the reserves same with Mexico or Venuzuala China and so on

http://en.wikipedia.org/wiki/Nationalization_of_oil_supplies

The nationalisation of oil supplies refers to the process of deprivatization of oil production operations, generally in the purpose of obtaining more revenue from oil for oil producing countries. This process, which should not be confused with restrictions on crude oil exports, represents a significant turning point in the development of oil policy. Nationalization eliminates the concession system—in which private international companies control oil resources within oil-producing countries—and allows oil-producing countries to regain control. Once these countries become the sole owners of their resources, they have to decide how to maximize the net present value of their known stock of oil in the ground

The US only has production of about 1/8 of world production, consumes about 1/4
Do you not see the problem? You Bitch and moan about the prices but there is NOTHING to be done about it short of getting demand down to 10 mbpd because then its not a billion $ draining out of the economy everyday. Problem with that is cheap energy grows the economy and its relationship to GDP is well documented, more oil greater GDP

Why did Nigeria stop the subsidies on their domestic fuel? because its very expensive

http://news.ninemsn.com.au/world/8400183/nigeria-braces-for-fuel-strikes

"Economists say removing fuel subsidies was vital to allow the country to improve its woefully inadequate infrastructure and ease pressure on its foreign reserves"

You go on and on about how the tail wags the dog it isn't that way, you have to pay the market price or have a rich enough economy to subsidize it. DOUBLE bold this maybe it will sink in
 
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Doppel

Lifer
Feb 5, 2011
13,306
3
0
Its not hatefull and its not lying its merely the facts.
Don't get confused facing reality can be hard.

All right here from the Wall street journal
http://online.wsj.com/article/BT-CO-20120105-712141.html

Traders and analysts estimated that oil prices currently include a $5 to $10 premium on uncertainty over the Iran issue. Kyle Cooper, managing partner at IAF Energy Advisors in Houston, said that will continue to underpin U.S. prices near $100, even in the face of "horrific" U.S. demand data.

"The demand picture is dismal" in the U.S., Cooper said. "But from a trading standpoint, it is very difficult to be short," or take a market position that assumes a decline in prices. "

Fact is oil companies don't have much control over world reserves, Most Middle East govt's own the reserves same with Mexico or Venuzuala China and so on

http://en.wikipedia.org/wiki/Nationalization_of_oil_supplies

The nationalisation of oil supplies refers to the process of deprivatization of oil production operations, generally in the purpose of obtaining more revenue from oil for oil producing countries. This process, which should not be confused with restrictions on crude oil exports, represents a significant turning point in the development of oil policy. Nationalization eliminates the concession system—in which private international companies control oil resources within oil-producing countries—and allows oil-producing countries to regain control. Once these countries become the sole owners of their resources, they have to decide how to maximize the net present value of their known stock of oil in the ground

The US only has production of about 1/8 of world production, consumes about 1/4
Do you not see the problem? You Bitch and moan about the prices but there is NOTHING to be done about it short of getting demand down to 10 mbpd because then its not a billion $ draining out of the economy everyday. Problem with that is cheap energy grows the economy and its relationship to GDP is well documented, more oil greater GDP

Why did Nigeria stop the subsidies on their domestic fuel? because its very expensive

http://news.ninemsn.com.au/world/8400183/nigeria-braces-for-fuel-strikes

"Economists say removing fuel subsidies was vital to allow the country to improve its woefully inadequate infrastructure and ease pressure on its foreign reserves"

You go on and on about how the tail wags the dog it isn't that way, you have to pay the market price or have a rich enough economy to subsidize it. DOUBLE bold this maybe it will sink in
Unfortunately, dmcowen doesn't care about information that if consumed would change his wildly inaccurate view of reality.
 

werepossum

Elite Member
Jul 10, 2006
29,873
463
126
Gas had jumped up to $3.29 - $3.31 in Ooltewah, TN today, generally the cheapest area (a Racetrak and Walmart's Murphy station) in the greater Chattanooga area. Chattanoogagasprices.com still shows it as low as $3.10 in other parts of the area. Weird. Luckily we didn't need gas so it's a moot point for us.