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

[WhipperSnapper]

In my area, the price of gas has jumped up 10 cents per gallon over the past two days to $3.60.

 

[Generator]

Haven't been able to watch MSNBC lately, but I do enjoy these shills setting up the speculators agenda. Even I'm impressed by how stupid Americans are to fall for this charade we just we through 2 years ago. MSNBC wanted the no fly zone for lessor oil price. Of course it was a lie, but now that America will draw down some in Libya what outrageous horse shit will the speculators mouthpiece come up with?

Still I'm surprised by how much latency there is between gas prices coming down. The levels upon levels of speculation have to be formidable. Anyways how much has gold dropped within the same month as oil has jumped?

 

[AznAnarchy99]

Filled 87 today at costco for 3.93. All out side stations are at 4 plus now.

 

[dmcowen674]

Filled 87 today at costco for 3.93. All out side stations are at 4 plus now.

No way, you're lying

Obligatory link to gas average showing its only $2

http://finance.yahoo.com/news/Oil-p...tml?x=0&sec=topStories&pos=main&asset=&ccode=

 

[Tom]

Diesel has skyrocketed down 6 cents in Knoxville the last few days. $3.75 to $3.69

 

[dmcowen674]

There is no supply problem to begin with but we could be importing less oil if

http://news.yahoo.com/s/ap/20110329...jA3luX3RvcF9zdG9yaWVzBHNsawN0d28tdGhpcmRzb2Y-

Two-thirds of oil and gas leases in Gulf inactive



More than two-thirds of offshore leases in the Gulf of Mexico are sitting idle, neither producing oil and gas, nor being actively explored by the companies who hold the leases

Those inactive swaths of the Gulf could potentially hold more than 11 billion barrels of oil and 50 trillion cubic feet of natural gas

Tuesday's report comes against the backdrop of rising gas prices as the busy summer travel season approaches. Republicans put the blame for the increased costs on Obama's policies

Obama has rejected the criticism of his energy policies, saying that domestic oil production rose to a seven-year high last year.
"Any notion that my administration has shut down oil production might make for a good political sound bite, but it doesn't match up with reality,"

 

[dmcowen674]

3-31-2011

U.S. and Nato forces losing Libyan war oil crosses $106

http://news.yahoo.com/s/ap/20110331/ap_on_bi_st_ma_re/us_wall_street;_ylt=Ar3UaThHJzzjnPWyov0EMees0NUE;_ylu=X3oDMT
lOWtqZ2pwBHBvcwM4MgRzZWMDYWNjb3JkaW9uX2J1c2luZXNzBHNsawNzdG9ja3Nzd2luZ3Q-

Oil surged above $106 a barrel after troops loyal to Libyan leader Moammar Gadhafi retook control of the key oil port of Ras Lanouf from rebel forces.

The power shift threatens the quick restart of oil exports promised by a rebel victory.

Rising oil prices limit spending by consumers forced to pay more for gasoline, and could cut into economic growth.

 

[dmcowen674]

Up another 20 cents overnight, $4.29 for regular

3-31-2011

http://rds.yahoo.com/_ylt=A2KJjajTp...ks-more-likely-as-oil-prices-keep-rising.html

$5 gas looks more likely as oil prices keep rising

Oil prices rose to a 30-month high Thursday and traders expect them to escalate further on political turmoil in the Mideast.

Richard Ilczyszyn, senior market strategist at the Chicago trading firm Lind Waldock, said that if circumstances were normal, prices would slip because oil inventories are high. “But we have tensions in the Mideast we couldn’t have imagined six months ago, and that creates fear in the marketplace,” he said.

It also means that $5-a-gallon gas is getting closer in the Chicago area,
some analysts have predicted $5 a gallon by Memorial Day.

Ilczyszyn said prices could rise another $2 on Friday because traders who have shorted the market

 

[Doppel]

Up another 20 cents overnight, $4.29 for regular

Does Dmcowen have some kind of a lying/trolling allowance and as long as he stays under that he doesn't get banned?

Gas prices in the US have not moved in the last day (http://www.gasbuddy.com/) and in Chicago have dropped four cents. (http://www.chicagogasprices.com/)

 

[dmcowen674]

Oil 107.94 today

I'm sure gas will climb at least 30 cents for the weekend.

 

[Capt Caveman]

Oil 107.94 today

I'm sure gas will climb at least 30 cents for the weekend.

Want to make a bet it doesn't? You dumbfuck.

 

[Capt Caveman]

Does Dmcowen have some kind of a lying/trolling allowance and as long as he stays under that he doesn't get banned?

Gas prices in the US have not moved in the last day (http://www.gasbuddy.com/) and in Chicago have dropped four cents. (http://www.chicagogasprices.com/)

He's a liar and was banned before for it. Now, he has free reign to make this place more of a shit hole than it already is.

 

[thegimp03]

My fill-ups have been averaging $80 here. Pretty nasty when my car gets low MPG.

 

[dmcowen674]

Chicago TV and Radio is dominated by the $5 gas now

4-1-2011

http://chicago.cbslocal.com/2011/04/01/gas-prices-expected-to-hit-5-by-memorial-day/

Gas Prices Expected To Hit $5 By Memorial Day



We’ve been hearing about it for weeks, and now, experts say $5 per gallon gas is almost certain by Memorial Day.

As WBBM Newsradio 780′s Mary Frances Bragiel reports, the unrest in the Middle East continues to leave its mark on the price of oil.



Light sweet crude was trading Thursday at nearly $107 per barrel, an increase of $2.45 for the day.



The sharply rising prices hearken back memories of the summer of 2008


The crushing financial crisis later that year drove oil and gas prices down. But now, the sticker shock is back.


The reasons for the spike in oil and gas prices are different than in 2008. Back then, the cause wasn’t quite as obvious – it was blamed variously on high demand for oil in countries such as India and China, speculators on the futures market, and even “peak oil,” the theory that oil production had gone into a terminal decline and scarcity would keep prices going up forever.


But this time around, the rising prices are the clear result of unrest in the Middle East and North Africa — the crisis in Libya in particular — and the resulting jitters in the global oil market.

 

[Doppel]

Chicago TV and Radio is dominated by the $5 gas now

4-1-2011

http://chicago.cbslocal.com/2011/04/01/gas-prices-expected-to-hit-5-by-memorial-day/

Gas Prices Expected To Hit $5 By Memorial Day



We’ve been hearing about it for weeks, and now, experts say $5 per gallon gas is almost certain by Memorial Day.

As WBBM Newsradio 780′s Mary Frances Bragiel reports, the unrest in the Middle East continues to leave its mark on the price of oil.



Light sweet crude was trading Thursday at nearly $107 per barrel, an increase of $2.45 for the day.



The sharply rising prices hearken back memories of the summer of 2008


The crushing financial crisis later that year drove oil and gas prices down. But now, the sticker shock is back.


The reasons for the spike in oil and gas prices are different than in 2008. Back then, the cause wasn’t quite as obvious – it was blamed variously on high demand for oil in countries such as India and China, speculators on the futures market, and even “peak oil,” the theory that oil production had gone into a terminal decline and scarcity would keep prices going up forever.


But this time around, the rising prices are the clear result of unrest in the Middle East and North Africa — the crisis in Libya in particular — and the resulting jitters in the global oil market.

lol. When it doesn't hit $5 by Memorial Day can you promise to stop trolling in gas threads?

 

[Capt Caveman]

Yawn. Let's worry that the average hits $4 first. Up 3 cents since yesterday - http://www.chicagogasprices.com/

Based on Dave's prediction earlier that gas would go up 30 cents this weekend, gas will have to go up 27 cents between today and tomorrow.

 

[Londo_Jowo]

@ Doppel & Capt Caveman
You guys are flirting with danger, refuting Dave's claims will land you on his ignore list.

 

[Doppel]

@ Doppel & Capt Caveman
You guys are flirting with danger, refuting Dave's claims will land you on his ignore list.

Been there for weeks. He doesn't enjoy his nonsense being refuted with facts.

 

[Engineer]

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

Not working out too well right now, sadly.

Estimates that over half of the 2% Social Security payroll tax cut now going to people's gas tanks. So much for spurring the economy....more like spurring big oil.

 

[charrison]

Not working out too well right now, sadly.

Estimates that over half of the 2% Social Security payroll tax cut now going to people's gas tanks. So much for spurring the economy....more like spurring big oil.

Had an interview with a small oil/gas company this week. From the conversation they are not happy about the currently policies being put down by this admin either(ie limiting production here and encouraging production elsewhere).

 

[Londo_Jowo]

Not working out too well right now, sadly.

Estimates that over half of the 2% Social Security payroll tax cut now going to people's gas tanks. So much for spurring the economy....more like spurring big oil.

Blame that on the UN/US/NATO sticking their nose where it didn't belong.

 

[bamacre]

In all probability, oil prices will increase along with the perception that the economy is improving. You can't have your cake and eat it, too. This is the cross you bear when we have an economy built on monetary inflation. When people want the prices to come down, they will have to increase interest rates, and then the unemployment lines will fill up again.

 

[Engineer]

Blame that on the UN/US/NATO sticking their nose where it didn't belong.

Iraq and Libya?

 

[dmcowen674]

Had an interview with a small oil/gas company this week. From the conversation they are not happy about the currently policies being put down by this admin either(ie limiting production here and encouraging production elsewhere).

Shens because there is no such thing as a small oil/gas company.

Shens x2 because prove where the Obama Admin is limiting production here and encouraging production elsewhere.

 

[Londo_Jowo]

Iraq and Libya?

I don't think that oil would be as high as it is now had we not bombed Libya.