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

[Doppel]

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

Libya obviously, to anybody, would have had lower oil prices if Gadhafi was left to quell the rebellion. We all know this and there's no denying it, so certainly the civil war there is raising oil prices and, even if Gadhafi is taken out, it's not like the rebel opposition is likely to somehow magically find more oil, so calling this a war for oil is seriously questionable for those who'd do it.

 

[Imp]

Libya obviously, to anybody, would have had lower oil prices if Gadhafi was left to quell the rebellion. We all know this and there's no denying it, so certainly the civil war there is raising oil prices and, even if Gadhafi is taken out, it's not like the rebel opposition is likely to somehow magically find more oil, so calling this a war for oil is seriously questionable for those who'd do it.

I think I recall oil prices falling down to $101-ish a barrel when Gadhafi was about to crush Benghazi. Prices probably would have crashed if he just did that. The incompetent rebels can't hold on the Brega or the other nearby oil producer, and I won't be surprised if someone decides to blow up a a facility or two when the end is near.

 

[airdata]

if gas gets to $5/gallon, I'm going to start walking to work. ( 2-3 miles )

 

[WhipperSnapper]

Up 10 cents over the past two days to $3.70/gallon in my area.

 

[charrison]

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.

This is small company, at least compared to the majors. They operate mostly in Texas.

Guess you missed last week were the admin is going to be helping brazil explore their deepwater leases....

 

[dmcowen674]

This is small company, at least compared to the majors. They operate mostly in Texas.

Guess you missed last week were the admin is going to be helping brazil explore their deepwater leases....

No didn't miss it.

I'm sure they want the help to avoid disasters like we had in the Gulf.

 

[Doppel]

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

How'd this work out Nostradamus? Unless it goes up 27-28 cents by tomorrow morning, that is.

 

[Londo_Jowo]

No didn't miss it.

I'm sure they want the help to avoid disasters like we had in the Gulf.

You may not have missed it but you damn sure misunderstood what you read. Explore, not inspect.

This is great news for US manufacturers that supply equipment that's used on the deep water rigs.

 

[Londo_Jowo]

This is small company, at least compared to the majors. They operate mostly in Texas.

Good luck. If you happen to get the job and will be living in the Houston area. Katy and Richmond/Rosenberg areas have good deals on newly built houses.

 

[dmcowen674]

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.

Who is having cake and eating it too?

You are not the Forum Director anymore? Who took over the top spot?

 

[dmcowen674]

4-4-2011

http://www.businessinsider.com/us-oil-price-30-month-high-2011-4

Oil $108 and climbing fast

Oil prices jumped to fresh 30-month highs above $108 a barrel Monday in Asia as signs of a recovering U.S. jobs market

 

[Engineer]

Up to $3.79 in Lexington today. Yiiiippppeeee! :sarcasm:

 

[bamacre]

Who is having cake and eating it too?

Like I said, no one.

You are not the Forum Director anymore? Who took over the top spot?

I resigned. esquared took over.

 

[dmcowen674]

4-6-2011

http://news.yahoo.com/s/ap/20110406...jb3JkaW9uX3BvbGl0aWNzBHNsawNvYmFtYXRvZHJpbGw-

Obama to drill down on energy, education


As fuel prices rise because of growing demand worldwide and political unrest in oil-producing nations in North Africa and the Middle East, drivers are feeling pinched at the pump. Republicans blame Obama and his policies and he, in turn, is striving to show the public that he gets it.

================================================

No he doesn't

Oil inventories at at record levels with the oil tanks overflowing.

This is strictly a RICCO situation the President has full capability of prosecuting the responsible parties.

He has blown it and knows it.

He will be a one term President due to Gas prices first, lack of jobs second.

I won't vote for a Republican either but I'm sure enough people will even if it's Palin or Bachmann.

 

[WhipperSnapper]

...and...the prices are going up again! We're now at $3.80 in my neck of the woods. $4/gallon, here we come. How high do you guys think it will go before it starts to come down again?

 

[SlickSnake]

From a month ago:

http://www.bloomberg.com/news/2011-...europe-while-california-faces-4-a-gallon.html

From almost 3 years ago:

http://www.time.com/time/world/article/0,8599,1809900,00.html

Our prices stayed relatively stable in that same 3 year period.

As you can see, the prices for European's jumped up a LOT more than ours did over the last 3 years. Which is partly due to the unrest in the middle east disrupting European supply lines for oil. Which is also partly why we are in Libya with the UN on a "peace keeping humanitarian" mission to overthrow him. If you stop the gas, you got to go.

http://nationalgasaverage.com/

 

[blackangst1]

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

Libya is like 18th or 20th on the list of top oil producing countries...how do you figure?

 

[dmcowen674]

...and...the prices are going up again!

We're now at $3.80 in my neck of the woods. $4/gallon, here we come.

How high do you guys think it will go before it starts to come down again?

Damn, where are you?

$4 would save me close to a $1 here in Chicago

Oil just went up another $3 over $111

Many stations have already been around $4.50 to $69 for regular, I'm sure they will go up another 20 cents overnight.

Will be a lot closer to $5 by the morning.

 

[Doppel]

Which is partly due to the unrest in the middle east disrupting European supply lines for oil. Which is also partly why we are in Libya with the UN on a "peace keeping humanitarian" mission to overthrow him.

There was never any threat that Gadhafi would cut off oil. Status quo was the name of the game. Libyan war has increased gas prices as everybody knew it wouldn. The UN is not in there for oil. Not every single damn event with an oil nation has to do with its oil.

Libya is like 18th or 20th on the list of top oil producing countries...how do you figure?

The world has very little buffer, no more than 3 M barrels day of supply beyond current demand. Libya's production accounts for 2/3 of that, that's how he figures and partly why investors are bidding up the price of a barrel.

dmcowen $4 would save me close to a $1 here in Chicago

You are a despicable liar.

Many stations have already been around $4.50 to $69 for regular, I'm sure they will go up another 20 cents overnight.

Will be a lot closer to $5 by the morning.

Highest price in Chicago is $4.47 and the average is $4.10. Do you even believe this stuff; I mean are you deluded or are you just trolling? Somebody else said you were banned for lying in gas threads before. I wonder why you're getting a pass now?

 

[guyver01]

This is strictly a RICCO situation the President has full capability of prosecuting the responsible parties..

I'm not familiar with RICCO... but if you mean RICO, care to explain how oil prices fall under the cover of Racketeer Activity?

Under the law, racketeering activity means:

1. Any violation of state statutes against gambling, murder, kidnapping, extortion, arson, robbery, bribery, dealing in obscene matter, or dealing in a controlled substance or listed chemical (as defined in the Controlled Substances Act);
2. Any act of bribery, counterfeiting, theft, embezzlement, fraud, dealing in obscene matter, obstruction of justice, slavery, racketeering, gambling, money laundering, commission of murder-for-hire, and several other offenses covered under the Federal criminal code (Title 18);
3. Embezzlement of union funds;
4. Bankruptcy fraud or securities fraud;
5. Drug trafficking; long-term and elaborate drug networks can also be prosecuted using the Continuing Criminal Enterprise Statute;
6. Money laundering and related offenses;
7. Bringing in, aiding or assisting aliens in illegally entering the country (if the action was for financial gain);
8. Acts of terrorism.

 

[bamacre]

I'm not familiar with RICCO... but if you mean RICO, care to explain how oil prices fall under the cover of Racketeer Activity?

Any act of bribery, counterfeiting, theft, embezzlement, fraud,

Maybe that's what he's referring to.

 

[shiner]

During the course of this week gas here has dropped from $3.49 to today's price of $3.44

 

[shiner]

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.

Wow...I better tell my parent's our company that has been around since the late 1970's has just been a figment of our imagination.

Do our oil and natural gas wells not exist either? What about our coal, has that all been a dream as well?

 

[shiner]

There was never any threat that Gadhafi would cut off oil. Status quo was the name of the game. Libyan war has increased gas prices as everybody knew it wouldn. The UN is not in there for oil. Not every single damn event with an oil nation has to do with its oil.The world has very little buffer, no more than 3 M barrels day of supply beyond current demand. Libya's production accounts for 2/3 of that, that's how he figures and partly why investors are bidding up the price of a barrel.You are a despicable liar.Highest price in Chicago is $4.47 and the average is $4.10. Do you even believe this stuff; I mean are you deluded or are you just trolling? Somebody else said you were banned for lying in gas threads before. I wonder why you're getting a pass now?

Is he deluded?

Read this and it should answer your question.

 

[TheSlamma]

Wow...I better tell my parent's our company that has been around since the late 1970's has just been a figment of our imagination.

Do our oil and natural gas wells not exist either? What about our coal, has that all been a dream as well?

[dave] Why do you hate America so much!!! [/dave]