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

[dmcowen674]

Anyone going to guess how much gas will jump today?

Oil rocketed up over 7%

Some stations got as low as $3.53 here, they'll probably shoot up to around $3.70 after today's rich boys monopoly moves on Wall St.

 

[desy]

I don't care cause the price of fuel is variable much like a lot of other things

 

[dmcowen674]

I don't care cause the price of fuel is variable much like a lot of other things

What do you define as variable?

It hung around the $4 mark here for a couple years, it just took a month to get down to $3.50 level.

and why do you not care?

Fuel is of no consequence to you due to being rich perhaps?

 

[Londo_Jowo]

Nope, most of the stations close to were I live have seen no change and 3 out of the 6 stations are under $3.00/gal (2 at $2.94/gal and 1 at $2.99/gal)

 

[dmcowen674]

Anyone going to guess how much gas will jump today?

Oil rocketed up over 7%

Some stations got as low as ~$3.53 here, they'll probably shoot up to around ~$3.70 after today's rich boys monopoly moves on Wall St.

Well gas jumped back up to close to ~$4 again here in Chicago Suburbs. I'm sure when I get to the city I will find stations over $4.

We had a short few week reprieve but it has been around ~$4 for close to two years now.

I pegged it close to enough to spot on.

I said it would jump to ~$3.70, ~$3.65 is close enough to me.

I know the idiots on here will argue over a nickel but go ahead and argue.

Just confirms your idioitship for the world to see.

This latest jump went from the lowest it's been for a long time here at ~$3.43 to ~$3.65 yesterday. Then today jumped again to ~$3.79.

Tomorrow will probably jump to ~$3.95

Edit: added the ~ character as agreed upon with management

 

[Doppel]

Well gas jumped back up to close to ~$4 again here in Chicago Suburbs. I'm sure when I get to the city I will find stations over $4.

We had a short few week reprieve but it has been around ~$4 for close to two years now.

I pegged it close to enough to spot on.

I said it would jump to ~$3.70, ~$3.65 is close enough to me.

I know the idiots on here will argue over a nickel but go ahead and argue.

Just confirms your idioitship for the world to see.

This latest jump went from the lowest it's been for a long time here at ~$3.43 to ~$3.65 yesterday. Then today jumped again to ~$3.79.

Tomorrow will probably jump to ~$3.95

Edit: added the ~ character as agreed upon with management

It's sad really. You make an unimpressive prediction, it's mostly right, and you're already arguing with people who never challenged you on it. I think you're so used to negative attention that it's now what you crave.

 

[dmcowen674]

You make an unimpressive prediction, it's mostly right

You saying the word right is a first step.

There may be hope for you, just a glimmer at this point but still "mostly" FAIL.

 

[Londo_Jowo]

I'm so happy that you're so happy to pay more for gas.

 

[dmcowen674]

I'm so happy that you're so happy to pay more for gas.

It could go to $20 a gallon and I would not be seriously affected at all.

I use one gallon a week with my motorcycle.

 

[Londo_Jowo]

It could go to $20 a gallon and I would not be seriously affected at all.

I use one gallon a week with my motorcycle.

That's nice.

 

[werepossum]

It could go to $20 a gallon and I would not be seriously affected at all.

I use one gallon a week with my motorcycle.

What kind of bike? My 650 Ninja uses a gallon every two days.

In other news, gas locally was as low as $2.889 this weekend. Woo!

 

[desy]

I'm not rich but gas represents 5-6% of my aftertax income expenditures so say it jumps 50% it now represents 7.5 to 9% so I go from having 95% of my money left to spend on other things to 92.5%
Gold is variable so is Corn, for those I have substitues I don't have to eat corn if wheat is cheaper. The problem you have is fuel there isn't a substitute which causes a lot of problem in the transportation sector. Actually, everything, since products can't get from A to B without oil or manufactured even.
Eventually everything will rise in price, its peak oil, I try to choose daily ways to mitigate short and long term impact. Focus on that instead of a daily state of the industry report card trying to place blame here and there. Like a dog chasing its tail you go on about who is the problem now.
Its complicated, don't be surprised as to its rise and fall, accept people will have to make changes and yes sometimes painfully so. North Americans are the last to feel the real pinch as we have so much built in overhead in our system compared to the rest of world

Wiil you be riding your motorcycle in a Chicago winter?

 

[dmcowen674]

I'm not rich but gas represents 5-6% of my aftertax income expenditures so say it jumps 50% it now represents 7.5 to 9% so I go from having 95% of my money left to spend on other things to 92.5%
Gold is variable so is Corn, for those I have substitues I don't have to eat corn if wheat is cheaper. The problem you have is fuel there isn't a substitute which causes a lot of problem in the transportation sector. Actually, everything, since products can't get from A to B without oil or manufactured even.
Eventually everything will rise in price, its peak oil, I try to choose daily ways to mitigate short and long term impact. Focus on that instead of a daily state of the industry report card trying to place blame here and there. Like a dog chasing its tail you go on about who is the problem now.
Its complicated, don't be surprised as to its rise and fall, accept people will have to make changes and yes sometimes painfully so. North Americans are the last to feel the real pinch as we have so much built in overhead in our system compared to the rest of world

Wiil you be riding your motorcycle in a Chicago winter?

Yes, I drove the bike all winter except a couple of nights where it was snowing hard.

 

[dmcowen674]

What kind of bike? My 650 Ninja uses a gallon every two days.

In other news, gas locally was as low as $2.889 this weekend. Woo!

It's a vintage 1986 Honda Shadow 500VT.

 

[dmcowen674]

7-3-2012

http://finance.yahoo.com/news/oil-sharply-supply-fears-stimulus-161148911.html

Oil up sharply on supply fears, stimulus hope


Brent crude rose above $100 a barrel on Tuesday as mounting tension over Iran's nuclear program sparked concerns about supply threats, while hopes for economic stimulus action also supported oil prices along with equities.

Both Brent and U.S. crude rallied more than $4 intraday, with Brent pushing above $100 for the first time since June 11.

U.S. gasoline and heating oil futures also rallied ahead of Wednesday's holiday.

"The oil-price rally is motivated by growing expectation of monetary accommodation and also a return of Iran to the market's agenda," said Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas in London.

In Norway, an oil and gas workers' strike was another factor supporting oil prices. The strike has slowed crude shipments from the world's eighth-largest oil exporter

 

[dmcowen674]

7-3-2012


http://finance.yahoo.com/blogs/dail...-bottom-expert-sees-energy-153558948.html?l=1

Oil Prices May Have Hit Bottom: Expert Sees Energy Prices Rising


Global energy prices are moving sharply higher Tuesday morning on news that Iran was attempting to disrupt oil supplies by blocking the Strait of Hormuz waterway. Brent crude topped $100 a barrel for the first time in three weeks and U.S. oil futures for August delivery gained nearly 5 percent mid-morning before easing to $87.71 a barrel.

On Monday, Iran scheduled drills to test missiles that were capable of hitting targets as far away as Israel stoking fears the country is trying to produce a nuclear weapon

The New York Times reports Tuesday that the U.S. Navy has quietly been increasing its presence in the Persian Gulf to discourage Iran from freezing ship traffic in the Strait.

Iran's National Security and Foreign Policy Committee has also introduced a bill that would try to stop oil tankers from passing through the Strait of Hormuz

Lower oil prices last week were likely a bottom and gasoline and heating oil prices will move in step with crude oil.

 

[dmcowen674]

7-3-2012

http://finance.yahoo.com/q?s=clq12.nym

Crude Oil Aug 12 (CLQ12.NYM)

-NY Mercantile

87.66

3.91(4.67%) 4:37PM EDT

 

[werepossum]

It's a vintage 1986 Honda Shadow 500VT.

Cool. I used to have an '84 Night Hawk and a buddy I rode with had a Shadow, it's a nice general purpose/commuter bike. Unfortunately Honda largely abandoned the upright seating, general purpose, UJM (Universal Japanese Motorcycle) so now it's all laid-back cruisers or hunched over sport bikes. They do now have the NT700 which is very, very sweet, but it wasn't available in 2010 when I bought my Ninja. And it costs over $11,000 - my brand new, just assembled, 0.6 miles 2009 Ninja cost $5,000.

As long as you don't mind taking the risks, motorcycles are an excellent way to beat high gas prices. Of course, I'd have to ride 80,000 miles to break even . . .

 

[Doppel]

You saying the word right is a first step.

There may be hope for you, just a glimmer at this point but still "mostly" FAIL.

Hold your tongue, Dave the Liar. Those in glass houses: http://forums.anandtech.com/showthread.php?t=2253812&highlight=

 

[dmcowen674]

Originally Posted by dmcowen674
It's a vintage 1986 Honda Shadow 500VT.

Cool. I used to have an '84 Night Hawk and a buddy I rode with had a Shadow, it's a nice general purpose/commuter bike.

Unfortunately Honda largely abandoned the upright seating, general purpose, UJM (Universal Japanese Motorcycle) so now it's all laid-back cruisers or hunched over sport bikes.

??? Huh ???

They still make and sell the Shadow

They also still make and sell the baby version, the Rebel.

debi wants me to get her one, they sell for $4,000 new.

Not in budget at this time unfortunately.

 

[CallMeJoe]

Well gas jumped back up to close to ~$4 again here in Chicago Suburbs. I'm sure when I get to the city I will find stations over $4.

Damned gouging fuel profiteers. I had to pay $2.66/gallon today...

 

[Londo_Jowo]

Damned gouging fuel profiteers. I had to pay $2.66/gallon today...

Damn those profiteers to hell for de-gouging the prices!!!!!!

 

[Svnla]

$2.95/gal unleaded regular here.

 

[werepossum]

Originally Posted by dmcowen674
It's a vintage 1986 Honda Shadow 500VT.




??? Huh ???

They still make and sell the Shadow

They also still make and sell the baby version, the Rebel.

debi wants me to get her one, they sell for $4,000 new.

Not in budget at this time unfortunately.

But it's a different bike, or at least different from my buddy's. I looked at a 2010 Shadow, riding position is too reclined for me.

Damned gouging fuel profiteers. I had to pay $2.66/gallon today...

I paid $3.049 today but it was for 100% gasoline.

 

[dmcowen674]

7-3-2012

http://www.sfgate.com/business/article/Gas-prices-fall-6-6-in-year-as-demand-declines-3682754.php

Americans bought less gasoline in the four weeks ended June 26 than a year earlier

"Two months ago, the Republicans in Congress were trying to place blame on the administration for the high energy prices, and, boy, you haven't heard that in a month now," said Bruce Oppenheimer, a Vanderbilt University professor who has studied energy and politics.


"All of a sudden, it went from the front burner, to the back burner, to off the burner."


Relief at the pump isn't being shared equally. The average retail price in California is $3.741 a gallon after rising to $4.231 a month ago, according to AAA.


Gasoline in Alaska and Hawaii is still above $4, while at the other extreme a gallon in South Carolina will set motorists back $2.915.


U.S. gasoline consumption typically peaks between the Memorial Day holiday in late May and Labor Day in early September, when Americans traditionally take vacations.


"We've already seen the peak gasoline price for 2012, unless there is some geopolitical event," said Guy Caruso, a senior adviser for energy and national security at the Center for Strategic and International Studies in Washington.


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


They failed to include Chicago in this article. Not above $4 but very close.