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

[Engineer]

Wow just wow, selling American made industrial products and keeping jobs in American is not helping the economy. Damn, you're beginning to sound just like Dave.

Did I say that? Can you not read?

I said this....

Which has absolutely nothing to do with high gas prices and the effect it is having on the overall US economy.

and it has nothing to do with high gas prices and the affect it (gas prices) is having on the overall US economy. I'm glad that American companies are doing well but gas companies doing well generally means the rest of us who don't work for gasoline and oil service companies suffer...but what does it matter as long as you and your company do well. Good for you.

 

[Londo_Jowo]

Maybe you should tell your representatives to allow more drilling in the US.

The company where I work is doing their part to sell American made goods, both here and abroad.

 

[Engineer]

Maybe you should tell your representatives to allow more drilling in the US.

The company where I work is doing their part to sell American made goods, both here and abroad.

I have no problem with drilling in the US if it does what I said earlier:

Eliminates the middle east (or at least works toward that)

Employs more US people and pushes us toward a changeover off of oil toward something that the middle east has no control over. I would then be happy to sell corn/wheat/food stuff to the m.e. for about $100 to $300 per bushel.

 

[Darwin333]

It's not my thread and you are talking about a difference of 30 cents, hell the price goes up 30 cents overnight.

You are the one fabricating.

Out of curiosity, do you consider $3.30/gallon to be $3/gallon? Same monetary difference so I assume you would have no problem with rounding down as well as up.

 

[Londo_Jowo]

I have no problem with drilling in the US if it does what I said earlier:

Eliminates the middle east (or at least works toward that)

Employs more US people and pushes us toward a changeover off of oil toward something that the middle east has no control over. I would then be happy to sell corn/wheat/food stuff to the m.e. for about $100 to $300 per bushel.

We need to improve the shale oil extraction techniques. We need to look into using condensate gas (from natural gas) or running vehicles on LPG. All the taxis I rode in last week ran on LPG. We have a good supply of natural gas in the US.

 

[Londo_Jowo]

Out of curiosity, do you consider $3.30/gallon to be $3/gallon? Same monetary difference so I assume you would have no problem with rounding down as well as up.

He's only knows how to round up and squeal....."The sky is falling!!!"

 

[blackangst1]

2-21-2011

http://www.wlwt.com/r/2694211/detail.html

Gas prices to double on Middle East Unrest

Concerns that violent protests spreading in Libya could disrupt crude supplies from the OPEC nation have started pushing oil prices higher this week.

LMAO

Click your link and get this story:

Wife Is Prime Suspect In Murder Of Substitute Teacher


404 gas doubling story not found.

 

[Doppel]

LMAO

Click your link and get this story:

Wife Is Prime Suspect In Murder Of Substitute Teacher


404 gas doubling story not found.

His line from the article "Concerns that violent protests spreading in Libya could disrupt crude supplies from the OPEC nation have started pushing oil prices higher this week"

Comes from here:

http://www.ohio.com/news/break_news/116594708.html

Express reports the average price for a gallon of regular gasoline in Ohio is nearly $3.09. That's up from about $3.03 a week ago, and it's about 55 cents higher than the average a year ago.

One man's 20% is another's 100%, though.

 

[The-Noid]

Just logged into my term from home, thought I had the wrong price. April WTI up to $98.50 before pulling back. Up $9 on the day.

Brent over $107 up $5.

I still think $150 is definitely a doable equation. Although the economy will obviously slow as what did the Fed say, consumer spending down by $300MM for every $.01 increase in gas prices?

 

[Doppel]

Just logged into my term from home, thought I had the wrong price. April WTI up to $98.50 before pulling back. Up $9 on the day.

Brent over $107 up $5.

I still think $150 is definitely a doable equation. Although the economy will obviously slow as what did the Fed say, consumer spending down by $300MM for every $.01 increase in gas prices?

I have it up $6 on cnbc. But who's counting, it's a big gain for one day!

 

[The-Noid]

I have it up $6 on cnbc. But who's counting, it's a big gain for one day!

cmegroup should have a chart up of the electronic session. First trades were all over $98.

http://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html Click on April, Charts.

CNBC still quoting March.

 

[dmcowen674]

Out of curiosity, do you consider $3.30/gallon to be $3/gallon? Same monetary difference so I assume you would have no problem with rounding down as well as up.

Yes, that would be $3 gas

We no longer have any $3 gas here in Chicago area. Gas jumped 30 cents today. Most stations around $3.79 with the downtown stations over $4 now.

2-22-2011

http://news.yahoo.com/s/ap/20110222...5bl9oZWFkbGluZV9saXN0BHNsawNvaWxpbmR1c3RyeXc-

Oil industry worries Libya unrest could spread



The first major protests to hit an OPEC country put the oil industry on edge Monday, sending crude prices jumping and raising speculation about the use of emergency oil reserves that have only been touched twice in two decades.

Libya exports some 1.1 million barrels of crude a day from production of 1.6 million barrels — ranking it about 17th among world oil producers. And it has the largest proven oil reserves in Africa.


The United States, the world's largest consumer of oil, does not import any petroleum from Libya. But disruptions elsewhere can raise the price of oil worldwide.


Oil prices jumped Monday to $8.05 a barrel, or 9 percent, with benchmark crude for April delivery at $97.76


Some in the industry had their eye on world oil reserves that can be tapped if production is threatened or curtailed. The reserves have only been opened twice — after Hurricane Katrina in 2005 and the first Gulf War in 1991.


David Fyfe, head of the oil industry and markets division at the International Energy Agency, said the agency's member countries have reserves of 1.6 billion barrels of oil — equivalent to the amount of crude the U.S. imports in almost six months.

 

[dmcowen674]

That article is about a murder. Nobody?Who thinks it won't rain at $6?About what?

Whether out or malaise or necessity the US is clearly not going to have a mix of viable alternative fuels in place before gas prices get appreciably higher.

People's attention spans are flea-like. Light truck sales are nice and high now.

People don't seem to pay attention to the slow boil of gas prices or realize that speculation or not a repeat of 2008 could happen.

And even if it doesn't the trend as Yoxxy says is higher over two years now.

A trend of that duration is less like a bubble and more like a new normal.

That was a Fox TV station so they change headers like CNN, at least try a little searching or you shouldn't be on the Internets because you are not qualified.

Actually Donald Trump said it will be $8 or $9, I'm betting he has inside information.

 

[Doppel]

Yes, that would be $3 gas

We no longer have any $3 gas here in Chicago area. Gas jumped 30 cents today. Most stations around $3.79 with the downtown stations over $4 now.

This is why everyone thinks you're a liar.

http://www.chicagogasprices.com/

Gas went up $.02 yesterday and $.06 in the last week. The average is now $3.42, not $3.79, and no gas station over $4. This is why you are a troll. AAA says average is even lower yesterday, at $3.36.

That was a Fox TV station so they change headers like CNN, at least try a little searching or you shouldn't be on the Internets because you are not qualified.

Really, now the moderators tolerate this level of trolling is quite amazing. Here you post a heading from an article that doesn't exist, then a link that doesn't point to it (btw the term is not "header"), and when called out tell us we should be finding the correct one (even though it doesn't exist).

 

[Londo_Jowo]

My prediction is that oil prices will return to upper $80/barrel to low $90/barrel within 3 weeks.

 

[The-Noid]

Yes, that would be $3 gas

We no longer have any $3 gas here in Chicago area. Gas jumped 30 cents today. Most stations around $3.79 with the downtown stations over $4 now.

Awesome I will be there tomorrow to prove you are completely full of shit.

What station? I will take a picture for you.

 

[The-Noid]

Saudi Oil Min: Kingdom Sees $70-80/Bbl As Fair Oil Price Range
Saudi Oil Min: Hopes Fundamentals Will Prevail In Longer Term
Saudi Oil Min: Price Ceiling Of $80/Bbl Is Fair For Investors
Saudi Oil Min: OPEC, Saudi Ready To Supply Any Oil Shortage In Future
Saudi Oil Min: Saudi Spare Capacity 4 Mln Barrels/Day
Saudi Oil Min: No Concern On Supply Side Even If Disruption In Libya

 

[dmcowen674]

Awesome I will be there tomorrow to prove you are completely full of shit.

What station? I will take a picture for you.

I took a picture this morning on the way home from work

Here you go, corner of Pulaski and Irving Park Rd

Regular $3.78 Med $3.90 Premium $4.00

http://www.flickr.com/photos/59817054@N07/5468535628/

 

[Londo_Jowo]

I took a picture this morning on the way home from work

Here you go, corner of Pulaski and Irving Park Rd

Regular $3.78 Med $3.90 Premium $4.00

http://www.flickr.com/photos/59817054@N07/5468535628/

You really need to learn how to find the lowest prices rather than be so obsessed with the highest prices.

http://www.chicagogasprices.com/

 

[The-Noid]

We quote premium now? That is data mining bias to the extreme.

 

[Engineer]

From the "No shit Sherlock" files...$100 oil bad for the economy.

Gas went from $3.18 to $3.09 yesterday to $3.33 today. Didn't waste time on that one.

 

[piasabird]

Need more electric cars.
Need Smaller cars.
Need Smaller houses.
Need Smaller Gov't.

 

[WhipperSnapper]

It would be nice if one of the auto companies would produce a compact hybrid that sold for $14,000 so that the little people could afford it.

 

[charrison]

It would be nice if one of the auto companies would produce a compact hybrid that sold for $14,000 so that the little people could afford it.

or just buy the compact 4 banger and not worry about the hybrid. Going from 30 to 50mpg, you only save 160 gallons of gas doing 12000 miles a year. !0-15 gallons a month, not really worth the added expense of a hybrid. It is the bigger vehicles that need the to hybrid to really save gas.

 

[WhipperSnapper]

or just buy the compact 4 banger and not worry about the hybrid. Going from 30 to 50mpg, you only save 160 gallons of gas doing 12000 miles a year. !0-15 gallons a month, not really worth the added expense of a hybrid. It is the bigger vehicles that need the to hybrid to really save gas.

That's a good point. I guess I hadn't thought of it that way. Thanks for pointing that out. So at $5/gallon a savings of 160 gallons would work out to $800/year. That's still significant but perhaps doesn't provide a proper return on investment for the added expense of a hybrid.

I'd still like to be able to get one for under $15,000 though. With the way our nation's economy and job markets are going, people are going to need that extra $800 per year.