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

[dmcowen674]

What is really making the dollar go up?

Station by where I work dropped to $4.05 for regular

6-20-11

http://news.yahoo.com/s/ap/20110620...jb3JkaW9uX2J1c2luZXNzBHNsawNvaWxmYWxsc3RvYmU-

Oil falls to below $93 amid stronger US dollar

Oil prices fell below $93 a barrel Monday in Asia as Greece's deepening financial crisis undermined confidence in the euro.

A strengthening U.S. dollar has helped drag crude down from almost $115 early last month. A rising dollar makes commodities such as oil more expensive for investors with other currencies.

If the euro drops below $1.40, crude will likely fall to between below $88, energy consultant The Schork Group said.


"We think that further U.S. dollar strength will lead oil into the high $80s," Schork said. "As far as this week goes, look to the greenback."

 

[dmcowen674]

6-20-2011

http://news.yahoo.com/s/ac/20110616/us_ac/8652861_whos_to_blame_for_high_gas_prices_1

Republicans responsible for High Gas Prices.


According to an article in the Huffington Post by U.S. Representative Bruce Baily, the Republicans are responsible for the high gas prices we have been paying at the pumps.

In May, Eric Cantor, the House Republican leader, was taped promising oil speculators that he would fight Wall Street reform and make sure that consumer friendly regulations never see the light of day.

Republicans in the House are searching for more ways to protect these oil speculators, including new legislation brought to the floor this week in the Agriculture Appropriations bill, which would slash funding for the government agency which oversees and regulates oil speculation, which is the Commodity Futures Trading Commission.

The proposed cuts will be so dramatic that it will not be able to perform its primary function of oversight for the oil speculation market.

 

[bfdd]

Dave, you changing your mind on peak oil now? And why would 2 dollar a gallon be ridiculous? Get to fracking and refining. Then we could export some energy to the rest of the world or at least use it to fill the majority of our consumption and buy the rest off our hat.

 

[Engineer]

Oil down to $91.55 per barrel right now. Hopefully, keeps on coming down to give a boost to the sagging economy.

 

[Londo_Jowo]

Station by where I work dropped to $4.05 for regular

What? It's not $5.00/gal????

 

[dmcowen674]

Strange

The two stations by my apartment had dropped to $4.27 but then this morning jumped back up to $4.35.

Very odd since Oil is still dropping.

 

[mizzou]

Oil down to $91.55 per barrel right now. Hopefully, keeps on coming down to give a boost to the sagging economy.

Whats the point? Any inkling of increased fuel demand shoots us right back over 100 brrl again like a cycle

I dont see any way to break out of it in the near future unless europe or china totally tanks

 

[dmcowen674]

Originally Posted by Engineer
Oil down to $91.55 per barrel right now. Hopefully, keeps on coming down to give a boost to the sagging economy.

Whats the point? Any inkling of increased fuel demand shoots us right back over 100 brrl again like a cycle

I dont see any way to break out of it in the near future unless europe or china totally tanks

At least it would stop all the Texans from reaping huge rewards for raping the rest of the Country.

 

[dmcowen674]

Republicans were shooting for getting the minimum wage back down to $2 hr but after this article they may shoot for a quarter

6-20-2011

http://news.yahoo.com/s/yblog_thelo...ll-work-for-25-cents-an-hour-experiment-shows

Some Americans will work for 25 cents an hour, experiment shows


Some Americans are willing to work for much less than people from other countries, according to the results of an online experiment conducted by Newsweek.

No one in Italy, the Netherlands, or Egypt would accept less than $5 for an hour of work. In Germany it was $3, in Australia and Britain $2, and in Canada $1.25. Americans accepted by far the lowest figure: just 25 cents.

The minimum wage in the U.S. is $7.25 per hour, and some argue it should be higher. But the reality is that, especially given the current downturn, many Americans will work for a whole lot less--and sometimes do.

 

[bfdd]

Dad the jump you saw isn't that uncommon. One down the street from me jumped 10 cents while the other two fell a couple. Next day they had their regular spread of 10 cents over the others instead of the damn near a quarter

 

[Engineer]

Whats the point? Any inkling of increased fuel demand shoots us right back over 100 brrl again like a cycle

I dont see any way to break out of it in the near future unless europe or china totally tanks

Probably right. Back to $93.xx + at the end of the day, lol.

I would gladly pay $5.00 per gallon if the following took place:

We made the fuel here (jobs, jobs, jobs)
We gave the middle finger to the middle east (and most other oil producing countries).

 

[Doppel]

Miles driven about 2.4% lower in april than a year before.

 

[shady28]

Miles driven about 2.4% lower in april than a year before.

Indicative of a contracting economy. Also, it's worth mentioning that a hefty chunk of the increase in gas prices was due to devaluation of the dollar.

See here, page 2, a chart showing dollar value vs oil cost over a 3 yr timespan.

http://house.gov/brady/pdf/ThePriceofOilandtheValueoftheDollar.pdf



Sent from my iPad 2 using Tapatalk

 

[Capt Caveman]

Filled-up at $3.69 tonight.

 

[charrison]

Probably right. Back to $93.xx + at the end of the day, lol.



We made the fuel here (jobs, jobs, jobs)

That actually may happen. bakken shale is doing welll and its output is still growing. 3000 well are planned in the next 12 months on the eagle ford in texas. These shale formations are expected to increase US oil output 3million barrels a day in a few years.

 

[dmcowen674]

Oil heading back up again

6-21-2011

http://news.yahoo.com/s/ap/20110621...jb3JkaW9uX2J1c2luZXNzBHNsawNvaWxuZWFyOTRhc2k-

Oil above $94



Oil prices rose above $94 a barrel Tuesday

The euro rose to $1.4356 on Tuesday from $1.4309 late Monday.

Oil tends to rise when the dollar drops as a cheaper U.S. currency makes commodities such as crude cheaper for investors with other currencies. When the dollar gains, oil tends to fall.

 

[guyver01]

http://www.cnn.com/2011/US/06/22/illinois.storms/index.html

Storms leave 300,000 without power in Chicago area

One can only hope McOwned is lying under a tree, or now unable to drive anywhere due to $40/gal gas that can only come as a result of this storm

 

[matt0611]

Oil heading back up again

6-21-2011

http://news.yahoo.com/s/ap/20110621...jb3JkaW9uX2J1c2luZXNzBHNsawNvaWxuZWFyOTRhc2k-

Oil above $94



Oil prices rose above $94 a barrel Tuesday

The euro rose to $1.4356 on Tuesday from $1.4309 late Monday.

Oil tends to rise when the dollar drops as a cheaper U.S. currency makes commodities such as crude cheaper for investors with other currencies. When the dollar gains, oil tends to fall.

This is a key point, oil and other commodities are very fungible. All else being equal, when the dollar drops against other currencies, the price of commodities like oil will always rise.

The government has been devaluing the dollar by printing, why should we expect any other outcome?

 

[bfdd]

So oil has been 90-95 for how long now?

 

[Engineer]

Hmmm...bounced off the $91.xx mark a few days ago and back up she goes.

Oil rises as Fed acknowledges economy's slow pace


Oil higher after Fed says economy growing more slowly than expected, but should pick up soon
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Economy, Government & Policy

Sandy Shore, AP Business Writer, On Wednesday June 22, 2011, 3:02 pm EDT

Oil prices rose Wednesday after the Federal Reserve acknowledged that U.S. economic growth has slowed but should pick up again soon.

Fed officials said in a statement that they believe the main causes of the economy's slowdown, such as high gas prices and supply disruptions from Japan's natural disaster, are temporary. They said once those problems subside, the economy should rebound. The Fed also said it will complete a $600 billion bond-buying program by June 30, as planned, and keep interest rates at record lows for an extended period.

Benchmark oil for August delivery gained $1.24 to settle at $95.41 a barrel on the New York Mercantile Exchange.

 

[Engineer]

So oil has been 90-95 for how long now?

Looking at this graph (click me).. maybe just over a week or so?

 

[dmcowen674]

Hmmm...bounced off the $91.xx mark a few days ago and back up she goes.

Station just outside city limits where I work briefly went to $3.99 and now going back up 5 cents a day, back up to $4.19 and climbing fast.

It was closed most of today because no power to the area.

300,000 without power after the storms with 80 mph winds roared through last night at 9pm.

 

[bfdd]

Looking at this graph (click me).. maybe just over a week or so?

Ah, looks like it should still be going down then. I wonder how much longer the oil producers/corps can keep up this inflated garbage?

 

[Doppel]

Station just outside city limits where I work briefly went to $3.99 and now going back up 5 cents a day, back up to $4.19 and climbing fast.

There you go lying again.

 

[Capt Caveman]

Station just outside city limits where I work briefly went to $3.99 and now going back up 5 cents a day, back up to $4.19 and climbing fast.

It was closed most of today because no power to the area.

300,000 without power after the storms with 80 mph winds roared through last night at 9pm.

http://www.chicagogasprices.com/

Prices falling you lying piece of shit.