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

[OCGuy]

Dave's premise - that high gas prices hurt the economy - is certainly valid, even if his numbers are skewed. I'm not sure there's much remaining to be said about it though. The President doesn't directly control gas prices, and while I'm all for opening areas like ANWR (at least within certain constraints), I doubt that any new President can do a lot to lower gas prices. Once oil suppliers learned that the world will buy oil at $80 to $100 with modest drops in demand, I doubt anyone can drop oil down to $15 to $30 again. Not until there's a fundamental breakthrough and/or transformation in energy production and use anyway. So while I don't think it's a troll thread, one could argue it's outlived its usefulness.

Personally I prefer threads to continue until they get offensive (mods' call) or people naturally stop posting, but I'll admit I have no strong feelings either way.

You have to look at who the person keeping the thread alive is. His sole purpose on this forum is to troll.

Just look at his earthquake prediction threads, his other $10/gallon gas threads, his milk threads...he goes as long as he can get away with it.

Even if we try and let it die, he posts some article about how gas is above the national average next to a airport rental car return. Or he will use premium gas to skew the facts.

It is the very definition of trolling.

 

[dmcowen674]

:thumbsdownremium does not count - overpriced for the benefits.

Actually you couldn't be more wrong.

Vehicles that actually require premium are normally super high priced vehicles that only the rich could afford to buy.

They are in fact making it more expensive for the poor blokes.

 

[Capt Caveman]

Actually you couldn't be more wrong.

Vehicles that actually require premium are normally super high priced vehicles that only the rich could afford to buy.

They are in fact making it more expensive for the poor blokes.

Only b/c dumb people like yourself will buy premium even though your car doesn't need it b/c it allows you to feel like a rich person for a minute.

 

[AznAnarchy99]

So lowest price in OC just jumped 5 cents ... Im sad =(
It was stuck at $3.59 at costco for about a week and yesterday it went up to $3.64...

 

[Doppel]

You have to look at who the person keeping the thread alive is. His sole purpose on this forum is to troll.

Just look at his earthquake prediction threads, his other $10/gallon gas threads, his milk threads...he goes as long as he can get away with it.

Even if we try and let it die, he posts some article about how gas is above the national average next to a airport rental car return. Or he will use premium gas to skew the facts.

It is the very definition of trolling.

He is a troll par excellence.

 

[Fenixgoon]

Actually you couldn't be more wrong.

Vehicles that actually require premium possess engines which typically feature a) forced induction; b) high compression ratios; c) both.

They are in fact making it more expensive for the poor blokes.

ftfy so it's actually correct.

examples: honda civic, mazdaspeed3, VW GTI, etc. yes, typically more expensive cars will feature higher performing engines which need premium gasoline, but to say that ONLY these high-end cars use premium is incorrect. there are plenty of cars at 30k or less that use premium.

 

[Doppel]

ftfy so it's actually correct.

examples: honda civic, mazdaspeed3, VW GTI, etc. yes, typically more expensive cars will feature higher performing engines which need premium gasoline, but to say that ONLY these high-end cars use premium is incorrect. there are plenty of cars at 30k or less that use premium.

All this shows is that dmcowen knows about as much about cars as everything else, which is to say nothing.

 

[Londo_Jowo]

Prices have dropped $0.06/gal to $0.07/gal the past few days where I live. Paid $3.39/gal with discount this morning.

 

[Engineer]

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

What happened (posted on 2/22/11)?

You're not very good at predictions either! :biggrin:

 

[Londo_Jowo]

What happened (posted on 2/22/11)?

You're not very good at predictions either! :biggrin:

I'm sure mcpwned420 will post the reason why oil has not returned to those values.

 

[dmcowen674]

7-24-2011

http://news.yahoo.com/gas-jumps-mor...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

Gas jumps more than 8.5 cents per gallon in U.S.


The increase per gallon is nearly the exact same as the rise per gallon of a barrel of crude linked to the benchmark West Texas Intermediate, which jumped to $99.87 per barrel, up from $96.20 two weeks ago.
"It is crude, period, that did this," Trilby Lundberg, the survey's editor, told Reuters.


"If it had not been for the recent crude oil price hikes, we would have seen prices fall at the pump because of that weak demand and the economy," Lundberg said.


A year ago, the price per gallon was $2.73, about 96.72 cents less than the current price.


At $$3.28 a gallon, Tucson, Arizona, had the lowest average price for regular gas, while Chicago drivers paid the highest at $4.07, the survey found.

 

[Arkaign]

Didn't the true fair-market cost of oil get exposed briefly during the economic hysteria of 08 when the exploitative investors get scared off? It should be outright illegal for anyone to use oil as a commodity who isn't going to take physical delivery of the shit. Speculators causing bubbles like these causes grave harm to the economy at large.

 

[Arkaign]

In short, I think the same predators who thrived on bubbling up the housing market ludicrously high have moved their money (thanks, bailout! to thinks like oil, causing unnatural price increases.

 

[BarneyFife]

Didn't the true fair-market cost of oil get exposed briefly during the economic hysteria of 08 when the exploitative investors get scared off? It should be outright illegal for anyone to use oil as a commodity who isn't going to take physical delivery of the shit. Speculators causing bubbles like these causes grave harm to the economy at large.

I agree. You want to trade oil, load that shit in your driveway or your garage. None of this computer algorithm tricks. I want an oil truck coming to your house and unloading barrels and then you can do whatever you want with them.

 

[Imp]

I agree. You want to trade oil, load that shit in your driveway or your garage. None of this computer algorithm tricks. I want an oil truck coming to your house and unloading barrels and then you can do whatever you want with them.

If you require that, then all of Wall Street will probably "live" at <middle of nowhere address with 5 million gallon oil tanks in the back yard>. Someone will probably make a business of accepting orders as long as there's profit.

 

[werepossum]

ftfy so it's actually correct.

examples: honda civic, mazdaspeed3, VW GTI, etc. yes, typically more expensive cars will feature higher performing engines which need premium gasoline, but to say that ONLY these high-end cars use premium is incorrect. there are plenty of cars at 30k or less that use premium.

A lot of motorcycles also require premium. I looked at a $12,000 BMW 850ST which requires premium, but gets in the low 60s mpg. My $5,000 Kawasaki 650 Ninja on the other hand uses regular, but gets only 48 mpg. One could make the case that buying the BMW actually helps keep prices lower due to its better mileage and the higher profitability of premium.

 

[dmcowen674]

AAA and Lundberg feud over 12 cents

Looks like they have been hanging around some P&Ners.

7-25-2011

http://www.suntimes.com/news/metro/6703522-418/survey-gas-prices-here-highest-in-nation.html

Gas prices in Chicago highest in nation


Chicago has the highest gas prices in the nation, according to a Lundberg survey.


Our average price for a gallon of regular was $4.07 while the lowest was found in Tucson, Ariz., at $3.28. The nation’s average was $3.70, a nine cent jump over the last two weeks, according to the survey, which was released Sunday.


But the survey’s results were called into question by AAA Chicago Motor Club spokesman Beth Mosher.


“I can say with experience that often when the Lundberg survey says we’re the highest, we’re not, and I know that Connecticut had the highest priced gas in the nation as of Sunday,” said AAA spokesman Beth Mosher.
AAA’s daily fuel report shows the price for a gallon of regular gas in Bridgeport, Conn., was $4.13 on Sunday, 12 cents higher than Chicago.


“We survey more cities and more gas stations and in my opinion have a better landscape of where gas prices are,” said Mosher.

 

[Doppel]

I agree. You want to trade oil, load that shit in your driveway or your garage. None of this computer algorithm tricks. I want an oil truck coming to your house and unloading barrels and then you can do whatever you want with them.

But we need market liquidity!

 

[Londo_Jowo]

AAA and Lundberg feud over 12 cents

Looks like they have been hanging around some P&Ners.

7-25-2011

http://www.suntimes.com/news/metro/6703522-418/survey-gas-prices-here-highest-in-nation.html

Gas prices in Chicago highest in nation


Chicago has the highest gas prices in the nation, according to a Lundberg survey.


Our average price for a gallon of regular was $4.07 while the lowest was found in Tucson, Ariz., at $3.28. The nation’s average was $3.70, a nine cent jump over the last two weeks, according to the survey, which was released Sunday.


But the survey’s results were called into question by AAA Chicago Motor Club spokesman Beth Mosher.


“I can say with experience that often when the Lundberg survey says we’re the highest, we’re not, and I know that Connecticut had the highest priced gas in the nation as of Sunday,” said AAA spokesman Beth Mosher.
AAA’s daily fuel report shows the price for a gallon of regular gas in Bridgeport, Conn., was $4.13 on Sunday, 12 cents higher than Chicago.


“We survey more cities and more gas stations and in my opinion have a better landscape of where gas prices are,” said Mosher.

Looks like to me you owned yourself as they exposed your lies about gas prices in Chicago.

 

[metalfacepc]

$4.13 in Connecticut is so high! I paid $3.60 yesterday in Boston, but that $4 dollar mark is very scary

 

[dmcowen674]

Quick, raise gas a dollar there is a storm in the gulf!!!

 

[WhipperSnapper]

It's still $3.80 in my area. The price hasn't really moved for months.

 

[Engineer]

Economy slowed sharply in first half of year

High gas prices and scant income gains have forced consumers to pull back sharply on spending in the spring.

 

[dmcowen674]

It's still $3.80 in my area. The price hasn't really moved for months.

Up a dime here today, now at $4.41 for regular, was sitting at $4.31 for the month of July.

Looks like the Labor Day push for $5 or higher is getting into gear.

 

[Engineer]

Down to $3.59 here. Been around $3.69 to $3.74 for about two weeks now but fell today.