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

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dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
11-15-2011

http://finance.yahoo.com/news/oil-p...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

Benchmark oil rises near $100 per barrel on positive signs for US economy


Prices jumped after the U.S. said that consumer spending rose in October for the fifth straight month. Spending increased for electronics, appliances, hardware and building supplies. Sales also rose at grocery stores, bars and restaurants and health care stores.

Meanwhile, retail gasoline prices in the U.S. slipped less than a penny to a national average of $3.41 per gallon

Gasoline prices are about 52 cents higher than the same time last year. ====================================================
Gas is certainly not going down here
 
Born2bwire

Born2bwire

Diamond Member
Oct 28, 2005
9,840
6
71
dmcowen674 said:
11-15-2011

http://finance.yahoo.com/news/oil-p...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

Benchmark oil rises near $100 per barrel on positive signs for US economy


Prices jumped after the U.S. said that consumer spending rose in October for the fifth straight month. Spending increased for electronics, appliances, hardware and building supplies. Sales also rose at grocery stores, bars and restaurants and health care stores.

Meanwhile, retail gasoline prices in the U.S. slipped less than a penny to a national average of $3.41 per gallon

Gasoline prices are about 52 cents higher than the same time last year. ====================================================
Gas is certainly not going down here
Click to expand...

I don't expect it go down in your fantasy land. But in the real world, it actually does.
 
N

Ninjahedge

Diamond Member
Mar 2, 2005
4,149
1
91
Oil /= Gas.

They will USE oil prices to try and explain the increase in gas prices, but it never works.

Mainly because the increase profit earned never matches the increase in consumption ($ is more). So oil doubles, increasing the gas price by less than double, and gas goes up 125% in price at the pumps AS SOON AS OIL GOES UP and stays there long after it has gone down.


Exxon = The Antichrist.
 
D

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Kalvin00 said:
$102 and change now. And.... why exactly is that?

$4 here we come again.
Click to expand...

The Koch brothers just bought a pipeline to connect U.S. and Canadian oil from the sand shales and Oklahoma Cushing Depot to the Texas Gulf.

The pipeline got fast tracked through Nebraska. The Koch brothers expect oil to surge to over $200 and gasoline to $10 a gallon for mega profits beyond what Exxon ever made.
 
sm625

sm625

Diamond Member
May 6, 2011
8,172
137
106
Gas prices have never been this high in the autumn season. Prices are rising on speculation of money printing, as usual. There is a huge wedge in all the major markets. A very large move is coming. Gas/oil would seem to be signalling a breakout in the upwards direction, but that is by no means certain.
 
D

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
sm625 said:
Gas prices have never been this high in the autumn season. Prices are rising on speculation of money printing, as usual. There is a huge wedge in all the major markets.

A very large move is coming.

Gas/oil would seem to be signalling a breakout in the upwards direction, but that is by no means certain.
Click to expand...

Dude you have no idea.

I've been reporting how the Oil Depots in the U.S. have been over-flowing with oil and tankers full of oil parked all up and down the Mississippi, canals and harbors. They have run out of places to store all the oil.

Keystone XL is owned by the Republican Koch brothers

11-16-2011

http://news.yahoo.com/transcanada-c...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

TransCanada may go ahead with Cushing-Gulf line

TransCanada Corp said on Wednesday it could start building the portion of its planned Keystone XL pipeline that runs from Cushing, Oklahoma, to the Gulf of Mexico, even as it awaits U.S. approval for the project as a whole.

The company said its customers are eager for a way to move oil from the glutted Cushing storage hub to the Gulf Coast

The full Keystone XL pipeline would transport crude from the northern Alberta oil sands to the Gulf Coast.

A glut of Canadian oil at the Cushing hub, the pricing point for the West Texas Intermediate benchmark, has depressed North American oil prices. Oil producers are looking to Keystone XL to help relieve bloated storage levels at the hub.

However an alternative to the Keystone XL line emerged on Wednesday as Enbridge Inc said it would pay $1.15 billion for ConocoPhillips' stake in the Seaway pipeline, which takes Gulf crude to Cushing. Enbridge said it would reverse Seaway's flow, taking 150,000 bpd from Cushing by the middle of 2102 and 400,000 bpd by early 2013.
 
hal2kilo

hal2kilo

Lifer
Feb 24, 2009
25,993
12,252
136
Gas is definately finally falling in the Northwest. Down to 3.63 @ Costco and 3.67 at the Chevon (closest they been in years). The Costco to regular retail spread is kind of strange. Not sure what's going on. As usual though, with demand down oil at the well went up today. Of course the usual apologizera (business TV) just kind of shrug their sholders and blah blahed. No manipulation of markets possible in the magic of free enterprise.

I should add also that supplies of oil keep coming out of no where thanks to it the price being high enough to open the valves on the already discovered oil let alone all of the newly (probably always known to exist) profitable to drill sources of oil.

At least they can supply you with lube when you get bent over.
 
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mizzou

Diamond Member
Jan 2, 2008
9,734
54
91
Damn, what ever happened to cheap fuel during a recession? Here we are almost out of it and weve basically payed 2008 shock value prices the entire time :confused:
 
blackangst1

blackangst1

Lifer
Feb 23, 2005
22,902
2,359
126
There’s one more factor that might add a few pennies to your pump – gas station owners taking advantage of the holiday.
“Some stations are well-positioned near major interstates and they know that having that convenience factor, not only will they have a lot of traffic coming in, but if they keep their prices a few cents better they certainly can make out a little better,” said petroleum analyst Patrick DeHaan of GasBuddy.com.
Click to expand...

Those evil gas station owners!
 
D

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
11-17-2011

http://www.usatoday.com/money/news/...price-likely-to-reach-holiday-high/51245790/1

Gas prices to reach holiday high

Tom Kloza, chief analyst for the Oil Price Information Service, says "By March or April, you could see Apocalypse II — $3.99 a gallon."


Motorists will probably pay record-high gasoline prices for the Thanksgiving holiday weekend.

Regular gas is likely to average $3.37 a gallon next week — up a whopping 51 cents over last Thanksgiving, according to price tracker GasBuddy.com. Adjusting for inflation, that's about 1 cent higher than 2007's previous holiday high of $3.08.

Tom Kloza, chief analyst for the Oil Price Information Service, says "By March or April, you could see Apocalypse II — $3.99 a gallon."

Even longtime industry experts are stumped about what's been moving prices of late.


"This market isn't sure on any day what it wants to be following. (Wholesale) gas prices. Heating oil. The economy. Greece. The equities markets. We've had just a bunch of crazy situations that don't make a whole heck of a lot of sense,'' says Peter Beutel, head of energy adviser Cameron Hanover.

This year, overall consumption is off 4.4% from 2010.
 
SparkyJJO

SparkyJJO

Lifer
May 16, 2002
13,357
7
81
dmcowen674 said:
$3.99 is predicted for most of the country by Tom Kloza so that means it will be at least $5.50+ in Chicago.
Click to expand...

Yeah, sure it will :rolleyes:

The highest gas has ever been in Chicago was around the $4.60 mark, and that is when the national average was $3.99.

Oh, and Tom Kloza is probably one of those stupid speculators who helps drive up oil prices.
 
D

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
SparkyJJO said:
Yeah, sure it will :rolleyes:

The highest gas has ever been in Chicago was around the $4.60 mark, and that is when the national average was $3.99.

Oh, and Tom Kloza is probably one of those stupid speculators who helps drive up oil prices.
Click to expand...

There were several stations in the city core over $5

The local news reports are in this thread earlier.

Here is a national news article where prices were higher than you think.

You obviously such at the Internets search and should not post.

4-25-2011

http://www.huffingtonpost.com/2011/04/25/chicagos-gas-prices-highe_n_853201.html

Chicago's Gas Prices Highest In U.S.



Some Chicagoans are heading to the suburbs to fill up their tanks, as gas prices continue to climb in the city limits.


According to the latest Lundberg Survey of fuel prices, Chicago has the highest gas prices in the contiguous United States. While the average price of gas reportedly rose by 12 cents in the past two weeks, Chicago is well above the national average--paying about $4.27 per gallon.


Many Chicagoans are paying more than that, however.



Chicagogasprices.com reports that a Northwest Side BP station is charging $4.69 per regular gallon, and prices remain in the $4.30-$4.50 range throughout much of the city.
 
N

Ninjahedge

Diamond Member
Mar 2, 2005
4,149
1
91
Which means gas prices do not follow any easily definable set of governing influences....


Almost anything that can be used to explain a jack-up (keep profits at a max) will be used.....


These guys are in the position now to keep them high enough to get the most $$ without encouraging rapid growth in fuel economy or alternate sources (solar cell development, battery research, etc).

If gas prices crested (average) above $5 you would see a HUGE push for less geeky electric cars and a consummate drop in the "value" of oil companies worldwide.
 
guyver01

guyver01

Lifer
Sep 25, 2000
22,135
5
61
Prices are on a steady decline here.. the Drive for $3 is on!

ch.gaschart
 
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