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

[theeedude]

Gasoline futures fall below $3

Treasury yields fall below 3%
When will Republicans give up these inflation and bond vigilante fantasies and start stimulating the economy and fighting deflation?

 

[dmcowen674]

Jumped 30 cents here today $4.50 range to $4.80 again.

Sorry but that is $5 a gallon again, once it passes $5 will be talking about $6 gas and beyond.

Other than oil reaching $103 today did all the refineries blow up at the same time or something to cause such a jump?

Shirley the guys that profit from this in here in the Oil/Gas Industry must know.

Don't see any news links so waiting on your personal excuses.

TIA

 

[dmcowen674]

5-31-11

http://articles.sfgate.com/2011-05-31/business/29607408_1_crude-heating-oil-oil-prices

Oil near $103 amid falling dollar, rising stocks


Oil prices inched higher to near $103 a barrel Wednesday in Asia as traders mulled whether a weakening dollar could help push crude back to 2 1/2-year highs.

"The dollar now seems to be on course to test the lows seen at the end of April," Cameron Hanover said in a report. "If that's the case, we could see stocks and oil prices also advance to test their late April highs."
Oil reached near $115 a barrel on May 2, the highest since September 2008.


In other Nymex trading in June contracts, heating oil was steady at $3.05 a gallon and gasoline rose slightly to $3.03 a gallon.

 

[dmcowen674]

OK, looks like I found the latest excuse

5-31-11

http://in.news.yahoo.com/oil-lifted-shut-keystone-pipeline-181435801.html

Oil lifted by shut Keystone pipeline


TransCanada Corp shut its Keystone crude oil export pipeline over the weekend for the second time in less than a month due to a small leak in Kansas.

The 591,000-barrel-a-day pipeline runs from Alberta to the key Cushing, Oklahoma, oil hub, the delivery point for the U.S. benchmark light sweet crude contract.


"It is still unclear when operations will be resumed," analysts at JBC Energy said in a note. "In case of a longer disruption, we might see a noticeable crude stock draw in Cushing in next week's US inventory reports."

U.S. gasoline and heating oil futures rose as their June contracts approached expiration at the end of the day's trading session.
Oil prices also received lift from the end of a truce between tribal groups and forces loyal to Yemen's President Ali Abdullah Saleh.


==============================================
Interesting when for a long time they have been saying that Cushing's depot tanks have been overflowing.

Now all of a sudden they run out?

Very fishy indeed.

 

[Engineer]

I have had the card since 07 it used to be 1.25% on all purchases but they did get rid of that last year but the 5% seems to be still going strong

I've had the same card for about the same time and it's still 5% gasoline and 1%, down from 1.25%, on everything else.

 

[Doppel]

I wonder how long they'll maintain that 5% back on gas. Years ago I had a credit card from one of the most prominent companies that paid back 5% on gas and groceries. It was great. Of course, after I had the card for two years they axed it.

Yes, the crown jewel, the Citi card platinum or something, it gave us 5% back on groceries, drug stores, gas, and then it nixed it and "upgraded" us to 1%. I still have that card but only use it 1-2 times/year for a tank of gas just to keep it alive.

I have had the card since 07 it used to be 1.25% on all purchases but they did get rid of that last year but the 5% seems to be still going strong

So that's the visa one. I have never been able to find a 5% back card that wasn't more than a 60 or 90 day intro so I never bothered, as I hate the idea of shopping around constantly for cards, but if this has been 5% indefinitely it may be indeed worth getting!

I've had the same card for about the same time and it's still 5% gasoline and 1%, down from 1.25%, on everything else.

So is this THE best gas card? It sure sounds like it.

--

More outrageous lies from dcmowen ($.30 increase, etc.), somebody ban this buffoon. I'll report his post again for trolling.

 

[Engineer]

So is this THE best gas card? It sure sounds like it.

--

Penfed is one of the best cards (along with Fort Knox Federal Credit Union) that you can get. Penfed is a great Credit Union with much more service than just cards and anyone can join simply by making a $20 donation (one time) to the American Military Family Association (details should be on the site).

 

[WhipperSnapper]

Yes, the crown jewel, the Citi card platinum or something, it gave us 5% back on groceries, drug stores, gas, and then it nixed it and "upgraded" us to 1%. I still have that card but only use it 1-2 times/year for a tank of gas just to keep it alive.

Yup, that's the one. I think it was the Citibank Platinum Dividend card. After they axed the good bennies I pretty much stopped using it.

 

[Londo_Jowo]

Oil back down to $100/bbl.

$8/gal gas is on it's way to gas stations near dmcowen674.

 

[Capt Caveman]

Jumped 30 cents here today $4.50 range to $4.80 again.

Sorry but that is $5 a gallon again, once it passes $5 will be talking about $6 gas and beyond.

Other than oil reaching $103 today did all the refineries blow up at the same time or something to cause such a jump?

Shirley the guys that profit from this in here in the Oil/Gas Industry must know.

Don't see any news links so waiting on your personal excuses.

TIA

http://www.chicagogasprices.com/

Can this asshat be banned please?

 

[Londo_Jowo]

Shirley the mods are too scared to mess with dmcowen674

 

[Doppel]

Penfed is one of the best cards (along with Fort Knox Federal Credit Union) that you can get. Penfed is a great Credit Union with much more service than just cards and anyone can join simply by making a $20 donation (one time) to the American Military Family Association (details should be on the site).

Although somewhat of a tangent it's far less so than Dmcowen lying to everybody so back to this briefly. Are you aware of any other cards that have a 5% on fixed category of gas? It seems almost all the others if not all of them now have changing categories, which is a stupid waste of time to me and I've no interest in that at all. Otherwise, penfed can be joined even cheaper than the $20--on their website is a $15 option

 

[Engineer]

Although somewhat of a tangent it's far less so than Dmcowen lying to everybody so back to this briefly. Are you aware of any other cards that have a 5% on fixed category of gas? It seems almost all the others if not all of them now have changing categories, which is a stupid waste of time to me and I've no interest in that at all. Otherwise, penfed can be joined even cheaper than the $20--on their website is a $15 option

Fort Know FCU offers 5% on gas and 1.25% (vs Penfed's 1%) on everything else

Don't know the requirements to join though. Other than that, I don't know of any. Penfed has been very good to me. Have taken two car loans (most recent a few weeks ago at 2.49% for 60 months), 3 CD's and the Visa card.

Oh, and you're right about the $15 vs $20 donation. I was thinking about the $15 donation + the $5.00 mandatory savings account that you must open with them to get any other account. My account is up to $5.13 over the last 5 years, LOL (but you must open and keep at least $5 in that account).

 

[Doppel]

Fort Know FCU offers 5% on gas and 1.25% (vs Penfed's 1%) on everything else

Don't know the requirements to join though. Other than that, I don't know of any. Penfed has been very good to me. Have taken two car loans (most recent a few weeks ago at 2.49% for 60 months), 3 CD's and the Visa card.

Oh, and you're right about the $15 vs $20 donation. I was thinking about the $15 donation + the $5.00 mandatory savings account that you must open with them to get any other account. My account is up to $5.13 over the last 5 years, LOL (but you must open and keep at least $5 in that account).

I'm sold, that is a great rate on a 60 month, too. Signing up now

DONE. 5% reduction in gas prices for me on the way! We spend almost $300/month on gas so return on investment is < 2 months.

 

[dmcowen674]

Fort Know FCU offers 5% on gas and 1.25% (vs Penfed's 1%) on everything else

†if gasoline retail price is $4.00 per gallon

Interesting how they use $4 as the baseline reference on the website

Don't know how that could be when P&Ners swear gas in not over $4

 

[dmcowen674]

Except of course Rich Republican P&Ners, they are not affected

6-2-2011

http://finance.yahoo.com/news/Pinch...7.html?x=0&sec=topStories&pos=5&asset=&ccode=

Pinched by gas, shoppers pull back elsewhere


Paying more at the gas pump, shoppers start to cut back elsewhere, retail reports show

Shoppers are pulling back on spending on discretionary items like clothing and home goods as gasoline and groceries eat up more of their paychecks.

Wal-Mart, which no longer reports its revenue figures on a monthly basis, has had eight straight quarters of year-over-year declines in revenue from stores open at least one year.

"It's tough," said Bill Simon, president and CEO of Walmart's U.S. business, said at a media event Thursday. Simon described the low income shopper as going through a "prolonged malaise."

Julie Hart, 35, is feeling the pain. She said she won't be able to send her 11-year-old son to summer camp this year because of higher prices. The retail worker in Garland, Texas, added that her son's grandmother, who once lavished gifts on her son, can't anymore.


"Food and gas are the priority ... and there's nothing else left," she said.



Warehouse clubs benefited from rising gas prices, partly because those stores use discounted gasoline to lure shoppers into buying memberships. Costco Wholesale Corp. and BJ's Wholesale posted strong results.
Still, dollars that go into gas tanks can't be spent elsewhere.


Beky Hayes, in Austin, Texas, said high gas prices have forced her to put off haircuts, taking her dog to the vet and buying a new bed.


"I'm a musician, and I have to drive my equipment to play a show," she said. "So higher gas prices have cut into my budget for other things that I need."


===================================================
What? I thought Texas was the golden Mecca of the U.S., how can they be affected and I thought gas was super cheap there based on posts by Texas P&Ners?

 

[Capt Caveman]

Interesting how they use $4 as the baseline reference on the website

Don't know how that could be when P&Ners swear gas in not over $4

Maybe b/c the National Average is below $4, dumbass.

 

[guyver01]

Don't know how that could be when P&Ners swear gas in not over $4

because gas is not over $4?

i paid $3.57 a gallon the other day...

while you paid $12.50/oz according to your lies.

How's that $11,000 vehicle registration going?

 

[mchammer187]

Does gas really break anyone's budget. I can understand if you have a 100 mile commute or something but then again that is pretty much you're own fault and that is the same if you drive a gas guzzler

If you drive 12 to 15 K miles a year and have a reasonably efficient car (25 MPG avg)

equates to 600 gallons a year. I don't get why people are so fixated by the price at the pump.

If you made a bad choice than that is your own fault but if you fall within the 15K / 25 MPG crowd you likely spend more on cable tv than at the pump and there really isn't anything besides a minor annoyance.

People should be complaining about the price goods but the core inflation has not really been high.

 

[dmcowen674]

Does gas really break anyone's budget. I can understand if you have a 100 mile commute or something but then again that is pretty much you're own fault and that is the same if you drive a gas guzzler

If you drive 12 to 15 K miles a year and have a reasonably efficient car (25 MPG avg)

equates to 600 gallons a year. I don't get why people are so fixated by the price at the pump.

If you made a bad choice than that is your own fault but if you fall within the 15K / 25 MPG crowd you likely spend more on cable tv than at the pump and there really isn't anything besides a minor annoyance.

People should be complaining about the price goods but the core inflation has not really been high.

What oil/gas company do you work for?

I drive a car that gets 35 mpg (Hyundai Tiburon)

What do you drive, an Escalade?

 

[dmcowen674]

Up another 10 cents today.

$4.94 for regular, the mid grade and Premiums are well over $5

Still waiting on answer from Attorney General why paying $5 here in Chicago and Texas only paying $3.50

 

[guyver01]

Still waiting on answer from Attorney General why paying $5 here in Chicago and Texas only paying $3.50

just like you're still waiting on Anandtech to turn over user info?


Boy.. you really have no life..

 

[Doppel]

Does gas really break anyone's budget. I can understand if you have a 100 mile commute or something but then again that is pretty much you're own fault and that is the same if you drive a gas guzzler

If you drive 12 to 15 K miles a year and have a reasonably efficient car (25 MPG avg)

equates to 600 gallons a year. I don't get why people are so fixated by the price at the pump.

If you made a bad choice than that is your own fault but if you fall within the 15K / 25 MPG crowd you likely spend more on cable tv than at the pump and there really isn't anything besides a minor annoyance.

People should be complaining about the price goods but the core inflation has not really been high.

Each dollar it goes up I am out about $65/month--and I have the best hybrid on the market. For others who have less efficient vehicles and/or make less money/live closer to the edge it can certainly contribute to pain in a big way.

 

[Doppel]

Up another 10 cents today.

quoted for more trolling.

 

[Londo_Jowo]

Still holding steady at $3.43/gal at two stations near my house. Highest price is $3.55/gal and it's at an exit from a major highway.