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

[WhipperSnapper]

I think we've had a 45% price increase for gasoline and food over the past couple of years. At least it seems that way.

 

[bfdd]

I honestly don't understand what oil flowing slower out of the ME has to do with prices going up in the USA. Most of the oil we use comes from here, Canada and Mexico. Not to mention last I heard we actually have quite the stock as well, a lot more than people thought at least. Purely speculator bullshit. Hopefully Obama won't cave to the fucking idiots who don't understand how the world functions and work with Canada to build this 1900 mile proposed pipeline to Texas.

 

[The-Noid]

When you currency is pegged to a depreciating currency with ultra low interest rates it means in a sense you also have ultra low interest rates. Higher rates are needed in many EMs that are pegging to the USD, specifically China the most. With the peg in place they have adopted our monetary policy and are also importing inflation from a weakening dollar abroad, it is a double whammy in egypt.

 

[jman19]

Good thing the US is getting all of that cheap oil from Iraq :hmm:

 

[dmcowen674]

Good thing the US is getting all of that cheap oil from Iraq :hmm:

Iran is thrilled as the Republicans on here are:

2-5-2011

http://news.yahoo.com/s/ap/20110205/ap_on_re_us/us_egypt_economic_impact_4

With Egypt in turmoil, oil and food prices climb



The turmoil in Egypt is causing economic jitters across the globe, pushing up food and oil prices so far, but bigger worries are ahead.

Will popular uprisings and revolution spread to Egypt's rich autocratic neighbors, managers of much of the [COLOR=#366388 ! important][COLOR=#366388 ! important]world's [COLOR=#366388 ! important]oil [/COLOR][COLOR=#366388 ! important]supply[/COLOR][/COLOR][/COLOR]?



Will the U.S. see its influence in the region decline and that of Iran and other fundamental Islamic governments surge?


Iranian leaders have much to gain from the Egyptian turmoil.



Not only is Mubarak the most anti-Iranian of American allies, but rising oil prices have clear economic benefits to Tehran.


"Hundred dollar-a-barrel oil for the Iranians does a lot to take down the pain of the sanctions that we're putting on them, so they must be sitting there rubbing their hands with glee at the moment," said Martin Indyk, a former U.S. ambassador to Israel.

 

[chucky2]

I don't get these references to 'glee'. The US is the best thing to happen to these countries by far, why would they want to take steps to have the US move away from needing them? Do they think China is going to treat them more fair? What happens when their one resource that makes doing business with them worthwhile - oil, from the ground - is not needed in anywhere close to the quantity needed any longer?

Seems to me these countries would be doing everything they could to keep in the US's good graces, not setting themselves up for long term failure (or, long term failure faster)...

Chuck

 

[WhipperSnapper]

Do they think China is going to treat them more fair?

I suspect that the Chinese would probably regard the Muslim religion as being barbaric and completely retarded. But that doesn't mean they wouldn't be willing to deal with them in a detached manner for business purposes.

 

[Doppel]

A lot more stations closing in on $5 in Chicago now, most at $4.80

They are blaming Egypt and the Blizzard

LIAR

 

[chucky2]

I suspect that the Chinese would probably regard the Muslim religion as being barbaric and completely retarded. But that doesn't mean they wouldn't be willing to deal with them in a detached manner for business purposes.

That's exactly what I mean though. The people of these countries think the US is so evil, do they really think when the US gets off ME oil, and hence out of ME policy, that whoever steps in to fill the void is going to be better than we've been?

China? India? Please. They have far worse human rights ethics than we do, by far. They'll have zero issue in doing whatever it takes, regardless of the outcome, to get what they want.

These brainwashed populous's would be far better off pulling the US in as a partner than dancing in the streets when we took 9/11. Oh well...will suck to be them in 100 years or so....

Chuck

 

[werepossum]

Iran is thrilled as the Republicans on here are:

2-5-2011

http://news.yahoo.com/s/ap/20110205/ap_on_re_us/us_egypt_economic_impact_4

With Egypt in turmoil, oil and food prices climb



The turmoil in Egypt is causing economic jitters across the globe, pushing up food and oil prices so far, but bigger worries are ahead.

Will popular uprisings and revolution spread to Egypt's rich autocratic neighbors, managers of much of the [COLOR=#366388 ! important][COLOR=#366388 ! important]world's [COLOR=#366388 ! important]oil [/COLOR][COLOR=#366388 ! important]supply[/COLOR][/COLOR][/COLOR]?



Will the U.S. see its influence in the region decline and that of Iran and other fundamental Islamic governments surge?


Iranian leaders have much to gain from the Egyptian turmoil.



Not only is Mubarak the most anti-Iranian of American allies, but rising oil prices have clear economic benefits to Tehran.


"Hundred dollar-a-barrel oil for the Iranians does a lot to take down the pain of the sanctions that we're putting on them, so they must be sitting there rubbing their hands with glee at the moment," said Martin Indyk, a former U.S. ambassador to Israel.

Iranians are thrilled, Republicans here are merely making fun of you and your repeatedly debunked assertions. There's a big difference. (Although, granted if the Iranians read your posts that difference would narrow considerably . . .)

 

[quakefiend420]

A lot more stations closing in on $5 in Chicago now, most at $4.80

They are blaming Egypt and the Blizzard

orly

http://www.chicagogasprices.com/Chicago/index.aspx

 

[dmcowen674]

orly

http://www.chicagogasprices.com/Chicago/index.aspx

Stop with these useless posts.

They don't contain any of the downtown core stations.

Where's North Ave and Clyburn?

Outside of city of Chicago doesn't count, it's a different world out there.

Ask Obama and Rahm.

 

[Londo_Jowo]

Stop with these useless posts.

They don't contain any of the downtown core stations.

Where's North Ave and Clyburn?

Outside of city of Chicago doesn't count, it's a different world out there.

Ask Obama and Rahm.

Please provide pics or admit you're a compulsive liar.

 

[WhipperSnapper]

That's exactly what I mean though. The people of these countries think the US is so evil, do they really think when the US gets off ME oil, and hence out of ME policy, that whoever steps in to fill the void is going to be better than we've been?

China? India? Please. They have far worse human rights ethics than we do, by far. They'll have zero issue in doing whatever it takes, regardless of the outcome, to get what they want.

As far as I know, China doesn't support Israel and it doesn't really meddle in the Middle East's affairs.

 

[chucky2]

But it hasn't stepped into a void left by us yet, and, it hasn't become a resource consumption monster, yet.

Agree on Israel though, nice for China they won't have that problem around their neck...

Chuck

 

[dmcowen674]

2-6-2011
http://news.yahoo.com/s/nm/us_kuwai...DeW5faGVhZGxpbmVfbGlzdARzbGsDZWd5cHR1bnJlc3Rt

Egypt unrest may push oil above $110


[COLOR=#366388 ! important][COLOR=#366388 ! important]Global [COLOR=#366388 ! important]oil [/COLOR][COLOR=#366388 ! important]prices[/COLOR][/COLOR][/COLOR] could exceed $110 a barrel if political unrest in Egypt continues, a member of Kuwait's Supreme Petroleum Council said on Sunday. Oil prices have spiked due to tension in Egypt. Brent crude hit $100 per barrel for the first time since 2008 on fears instability could spread through the Middle East, which together with North Africa pumps over a third of the [COLOR=#366388 ! important][COLOR=#366388 ! important]world's [COLOR=#366388 ! important]oil[/COLOR][/COLOR][/COLOR].


==================================================
I'm sure it won't stop at $110, more like $180


Next stop $6 gallon as Chicago PD were told last November and to prepare for riots at stations.


Many stations are closing up permanently around the city ahead of the turmoil.

 

[Londo_Jowo]

The sky is falling, the sky is falling.......really everyone, the SKY IS FALLING!!!!!!!!!!

 

[PliotronX]

The sky is falling, the sky is falling.......really everyone, the SKY IS FALLING!!!!!!!!!!

 

[Doppel]

Next stop $6 gallon as Chicago PD were told last November and to prepare for riots at stations.


Many stations are closing up permanently around the city ahead of the turmoil.

Is blatant trolling allowed around here? This thread is full of you lying over and over, do you always do this?

 

[Londo_Jowo]

WTI is below $89/barrel in trading this morning.

 

[bamacre]

When you currency is pegged to a depreciating currency with ultra low interest rates it means in a sense you also have ultra low interest rates. Higher rates are needed in many EMs that are pegging to the USD, specifically China the most. With the peg in place they have adopted our monetary policy and are also importing inflation from a weakening dollar abroad, it is a double whammy in egypt.

:thumbsup:

 

[Londo_Jowo]

Is blatant trolling allowed around here? This thread is full of you lying over and over, do you always do this?

Actually this is not trolling because of the extreme humor value. All Dave's posts are pure humor.

 

[bfdd]

Can we stop talking about the ME oil? Who the fuck gives a shit about the ME's oil? It is a replaceable percentage of what we currently use. Any updates on the Canadian pipeline? I'm more interested in that as Canada is our largest oil partner.

 

[TheSlamma]

As long as it gets SUV's off the road and econobox's back on the waiting list I'm happy with it. Obviously the pain has to hit the wallet before Americans wake their ass up. Now if we can just get McDonalds to cost $20 for a happymeal.

 

[dmcowen674]

As long as it gets SUV's off the road and econobox's back on the waiting list I'm happy with it. Obviously the pain has to hit the wallet before Americans wake their ass up. Now if we can just get McDonalds to cost $20 for a happymeal.

Indiana is trying to catch up to Chicago

2-7-2011

http://www.theindychannel.com/news/26774016/detail.html

Gas Prices Up Again Across Indiana



State's Fuel Costs Above National Average


Gas prices in Indiana and across the rest of the U.S. are shifting upward again, creating consternation for motorists who are shelling out more money at the pump.

According to AAA, Indiana's average price for regular unleaded is $3.15 a gallon, which is 3 cents higher than the national average of $3.12 a gallon.

Some analysts have predicted that gas prices will soar above $4 a gallon this summer.

The highest national average price happened in 2008, when the price for a gallon of regular unleaded hit $4.11 a gallon.

In Indiana, the highest average price also happened in 2008, at $4.18 a gallon.