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

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Londo_Jowo

Lifer
Jan 31, 2010
17,303
158
106
londojowo.hypermart.net
Keeps dropping up here,

You like Houston? I have job prospects down there. Thugs of course. :sneaky:

I closed on a house and moved down here in April 2008, I like the area. Katy and the Richmond/Rosenberg suburbs are quite nice and have decent housing prices. You can get a great deal on a new house these days, houses are going up left and right in the vicinity of the neighborhood where I live. I got a 15% discount off the list price and the builder paid all closing costs.
 
Oct 30, 2004
11,442
32
91
I can't say that I know much about Houston, but my impression has always been that it's a high-crime city with awful heat and humidity and the least desirable of Texas's four major city areas (Houston, Dallas, Austin, San Antonio).
 

Born2bwire

Diamond Member
Oct 28, 2005
9,840
6
71
Well, I like the northern weather but I sweated it out in the humidity and tropics of Hong Kong. I can probably tough it out in Houston. I would be out in the Richmond area too which is a little out of Houston and is supposed to be a good area. If not, I could try to put in for other locations. The company sold itself as being very mobile.
 

Matt1970

Lifer
Mar 19, 2007
12,320
3
0
I grew up right outside Houston. You get used to the heat to point but I don't think I will ever get used to 110 in the shade with 80% Humidity.
 

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
102,396
8,559
126
I can't say that I know much about Houston, but my impression has always been that it's a high-crime city with awful heat and humidity and the least desirable of Texas's four major city areas (Houston, Dallas, Austin, San Antonio).

San antonio is easily the worst of the four to live in. Houston and dallas are basically the same, though dallas has tornadoes and some hills while houston has hurricanes and the ocean. All of texas is pretty humid. Houston has the most diverse restaurant scene and more good restaurants than the others. Its also more diverse culturally.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Geez....... expected increased summer demand which occurs yearly will drive gas higher. Tell us something new Dave.

OK, here is even more oil to be added to the glut we already have that should have prices low not higher because prices are not dictated by supply & demand anymore they are dictated by thieving thugs that you support.

12-19-2012

http://www.reuters.com/article/2012...ype=RSS&feedName=governmentFilingsNews&rpc=43

U.S. sets plan for oil drilling in 72% of Alaska Petroleum Reserve


The federal government on Wednesday announced plans to develop petroleum reserves on part of Alaska's North Slope, with the 23-million-acre National Petroleum Reserve to be divided between areas available for oil leases and those that are protected from development for now.


The announcement by U.S. Interior Secretary Ken Salazar followed the completion of an environmental impact study, which recommended development of about 72 percent of the estimated "economically recoverable" oil in the reserve.


The move drew criticism from Alaska Sen. Lisa Murkowski, who contended the Obama administration had not gone far enough to open up oil and natural gas resources in the area.


Salazar said the plan as conceived would allow for the potential construction of pipelines carrying oil or gas from operations in the Chukchi and Beaufort Seas through the NPR region.


The areas where oil and gas development will not be allowed include "the vital subsistence resources of Alaska Natives and the habitat of world-class wildlife populations," the Interior Department said.
 

werepossum

Elite Member
Jul 10, 2006
29,873
463
126
OK, here is even more oil to be added to the glut we already have that should have prices low not higher because prices are not dictated by supply & demand anymore they are dictated by thieving thugs that you support.

12-19-2012

http://www.reuters.com/article/2012...ype=RSS&feedName=governmentFilingsNews&rpc=43

U.S. sets plan for oil drilling in 72% of Alaska Petroleum Reserve


The federal government on Wednesday announced plans to develop petroleum reserves on part of Alaska's North Slope, with the 23-million-acre National Petroleum Reserve to be divided between areas available for oil leases and those that are protected from development for now.


The announcement by U.S. Interior Secretary Ken Salazar followed the completion of an environmental impact study, which recommended development of about 72 percent of the estimated "economically recoverable" oil in the reserve.


The move drew criticism from Alaska Sen. Lisa Murkowski, who contended the Obama administration had not gone far enough to open up oil and natural gas resources in the area.


Salazar said the plan as conceived would allow for the potential construction of pipelines carrying oil or gas from operations in the Chukchi and Beaufort Seas through the NPR region.


The areas where oil and gas development will not be allowed include "the vital subsistence resources of Alaska Natives and the habitat of world-class wildlife populations," the Interior Department said.
It will take at least a decade and probably two to get this oil to market, so it will probably be replacing other supplies as they wane. In any case, the more of our own oil we produce the less we must import and the lower our trade deficit.

And there is a bright side - high prices encourage us to use less by driving less and by selecting more efficient vehicles. There are significant economic downsides to high oil and gasoline prices, but also environmental benefits.
 

hal2kilo

Lifer
Feb 24, 2009
25,757
12,070
136
$3.19 @ gal at Silverdale, WA Costco. This state has about the highest gas taxes in the country, so can't get to sub $3 bucks yet.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Oil back over $90 today


Crude Oil Feb 13 (CLG13.NYM)

-NY Mercantile

90.00
up_******
0.02(0.02%) 5:23PM EST



http://finance.yahoo.com/q;_ylt=Ai7...NhdANob21lBHB0A3NlY3Rpb25z;_ylv=3?s=clg13.nym
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
Was $2.96 yesterday. $3.29 today.

Was as low as $2.75 in Winchester, KY (about 15 miles East of Lexington, KY).
 

First

Lifer
Jun 3, 2002
10,518
271
136
"cali" is the size of most of the East Coast, so that is a rather vague statement.

I am in a more expensive area, and I just paid $3.57 tonight.

Yup, was $3.59 at a 76 here in LA, and that was for 91 Premium.
 
Oct 30, 2004
11,442
32
91
I saw it below $3.00/gallon today, which is the first time it's been under $3.00/gallon in my area in about two years.
 

DucatiMonster696

Diamond Member
Aug 13, 2009
4,269
1
71
It will take at least a decade and probably two to get this oil to market, so it will probably be replacing other supplies as they wane. In any case, the more of our own oil we produce the less we must import and the lower our trade deficit.

And there is a bright side - high prices encourage us to use less by driving less and by selecting more efficient vehicles. There are significant economic downsides to high oil and gasoline prices, but also environmental benefits.

The high oil price discussion with the futures traders he linked to in that earlier video dealt with the yearly cyclical oil price changes based on summer demand vs winter demand. Last year during the summer however demand for oil was less then expected due to our struggling economy, increased oil supplies due to new drilling techniques, etc and as a result we saw lower then expected gas prices in the summer because of these various factors.

This year the futures traders will have to sit and wait to see if the summer demand they are expecting actually pans out. However given the lack of resolve to actually deal with government spending and our debit issues and the bleak out look for the "fiscal cliff" talks there might not even be enough demand in the summer time to justify today's price increases for future contracts on oil because the American consumer may be taking a big hit tax wise next year.

This then could translate into oil prices taking yet another dip and some of those people bidding up on the price of oil may have take a figurative bath in it if their bet turns soar. Then again there might be a last minute reprieve to the "Fiscal Cliff" talks or outside of our concerns, developing and emerging economic powerhouse nations like China may fuel the price increases with their own demand, especially if foreign economies surge even when as economy limps along.

Right now though its all to early to tell and in the end the actual price of future oil will be based on the actual demand which materializes in the subsequent financial quarters both in the US and world wide. This isn't even considering what future supplies world wide will look like if producers across the world cut back to compensate for our current glut and/or any future economic/social down turns which might cause demand to lessen or supply to contract. So I'd take a wait and see approach before making any sort concrete statement on what the price of oil will look like when everything is said and done.

Lastly though I do agree though that any plans to drill for oil in Alaska now will not provide any significant boosts for us during the summer time next year in regards to the price of oil and subsequently the price of gas itself in the US or world wide. In fact it'll take a long time for that additional amount of oil to filter through world wide markets of oil to have any impact on the current price in the future whatever it maybe.