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

[OverVolt]

don't worry in Europe it's like 8.6 $/gallon and no one uses hand grenades either.

Yup just a triple dip recession.

 

[Engineer]

National average was reported this morning at $3.59 per gallon on the local station (5:15 am)

Gas was $3.43 this morning when I went to work (5:45am).

Gas was $3.39 when I went to a customer's site (10:00am).

Saw one station at $3.36 from the Interstate.

Gas was $3.69 when I returned (1:09pm).

 

[werepossum]

One of these days hand grenades will be cheaper than petrol bombs

Probably, but hand grenades make my engine knock.

 

[Engineer]

http://www.nbcnews.com/business/eco...energy-independence-report-suggests-1C8344034

US may not need to import oil from anyone buy Canada in just 5 years in a report by Citi. Stated that oil should plummet as use drops and production skyrockets. Like I said many times, I'll gladly pay $4.00+ if we can tell the rest of the world to pound sand.

http://www.cnbc.com/id/100450133/US_Is_on_FastTrack_to_Energy_Independence_Study

 

[werepossum]

http://www.nbcnews.com/business/eco...energy-independence-report-suggests-1C8344034

US may not need to import oil from anyone buy Canada in just 5 years in a report by Citi. Stated that oil should plummet as use drops and production skyrockets. Like I said many times, I'll gladly pay $4.00+ if we can tell the rest of the world to pound sand.

http://www.cnbc.com/id/100450133/US_Is_on_FastTrack_to_Energy_Independence_Study

Well, maybe Canada and Mexico. I dislike having all our eggs in one basket. What if we piss off the Queen?

 

[Engineer]

National average was reported this morning at $3.59 per gallon on the local station (5:15 am)

Gas was $3.43 this morning when I went to work (5:45am).

Gas was $3.39 when I went to a customer's site (10:00am).

Saw one station at $3.36 from the Interstate.

Gas was $3.69 when I returned (1:09pm).

and here we are just 4 days later and it has now jumped to $3.859 here. It's interesting to note that oil has been pretty steady around the $94-96 range ($95 ish today) for many weeks now.

 

[OverVolt]

We import less because no one can afford that shit.

Except unlike Europe and Japan, we also have a bad mass transit system. So there aren't a whole lot of other options. The USA is the most dependent on gas because the interstate system is our main transportation system. Where as Europe and Japan have bullet trains, more subways, better access to buses, etc.

All I've been trying to say is if $3.50 is the new low then what will the next high look like? It'll choke off the economy. I'm glad I get 30-some mpg. Not everyone does though.

 

[dmcowen674]

and here we are just 4 days later and it has now jumped to $3.859 here. It's interesting to note that oil has been pretty steady around the $94-96 range ($95 ish today) for many weeks now.

https://www.facebook.com/photo.php?...0145544987922.340792.690447921&type=1&theater

$4.19 here today out in the burbs of Chicago.

$4.69 to $4.89 at stations in the city already and this is only middle of February.

Certainly on track to hit $6 at least here.

 

[Londo_Jowo]

and here we are just 4 days later and it has now jumped to $3.859 here. It's interesting to note that oil has been pretty steady around the $94-96 range ($95 ish today) for many weeks now.

Quite a few refineries chose not to shut down for maintenance last September-October and have performed that maintenance this January-February. Makes one wonder if there's some type of tax break for holding off until this year or did the Oil companies wait to see who would win the election before releasing money to perform maintenance.

 

[Charles Kozierok]

All I've been trying to say is if $3.50 is the new low then what will the next high look like? It'll choke off the economy.

They used to say that about $3.50.

Life will go on.

 

[Engineer]

They used to say that about $3.50.

Life will go on.

It was reported on CNN that every $0.50 gas rises takes over $100,000,000,000 out of the economy. With an economy growing at an anemic rate of NEGATIVE right now....it's pretty substantial. We've been pretty much in the shitter since we've topped $3.50 the first time years ago and it's still sucking the life out of the US economy.

Life will go on but it will not be improving a standard of living, at least wage/inflation wise.

 

[WhipperSnapper]

Are we at a record average for this time of year? If it's $3.50 or $3.60 now, I shudder to think of what it's going to be up at this summer.

 

[Engineer]

Here is what I was talking about on oil vs gas:

Can anyone else see this disconnect? :hmm:

 

[dmcowen674]

Here is what I was talking about on oil vs gas:

Can anyone else see this disconnect? :hmm:

No disconnect found, it's all about that supply and demand remember?

All those liars trying to drill that into your head must be in that private club.

Haven't gone down to the corner station yet today. Yesterday I took pic of it at $4.19. It went up 20 cents everyday all week to get there.

So I expect to be at $4.39 today.

 

[Londo_Jowo]

Here is what I was talking about on oil vs gas:

Can anyone else see this disconnect? :hmm:

If you've read the reports there's quite a few refineries that shut down for maintenance in mid January and are in the process of coming back on line right now. The winter blends supplies are lower than normal due to the fact these refineries are shutting down early this year, normal maintenance shut downs are in March-April to change over to summer blend fuel. This could be a good thing in a month or so due to there being higher than normal supplies of summer blend fuels.

 

[Charles Kozierok]

Life will go on but it will not be improving a standard of living, at least wage/inflation wise.

Well, we really couldn't have expected to have the world's supply of oil largely to ourselves forever.

This Too Shall Pass.

 

[dmcowen674]

If you've read the reports there's quite a few refineries that shut down for maintenance in mid January and are in the process of coming back on line right now. The winter blends supplies are lower than normal due to the fact these refineries are shutting down early this year, normal maintenance shut downs are in March-April to change over to summer blend fuel. This could be a good thing in a month or so due to there being higher than normal supplies of summer blend fuels.

Criminal actions, period

 

[Engineer]

Well, we really couldn't have expected to have the world's supply of oil largely to ourselves forever.

This Too Shall Pass.

You can say that about anything in life. If gun violence errupted and killed 50% of the people on earth, I could simply say "This Too Shall Pass" but that doesn't make our decisions and bad policy OK. A dropping of standard of living leads to all kinds of problems, very indicative of the last decade or so and it's just warming up, IMO.

At some point, the higher fuel prices will start to rapidly push up everything else (delivered by anything that uses fuel) in price. Your food and everything else will be hit by inflation. I don't think the stores are simply going to "suck it up" and say "This Too Shall Pass".

This thread is about rising fuel price and the effects on the economy. There is no chance that these fuel prices are not having an effect on the overall economy. Too intertwined with everything in our lives to not have an effect.

 

[Engineer]

If you've read the reports there's quite a few refineries that shut down for maintenance in mid January and are in the process of coming back on line right now. The winter blends supplies are lower than normal due to the fact these refineries are shutting down early this year, normal maintenance shut downs are in March-April to change over to summer blend fuel. This could be a good thing in a month or so due to there being higher than normal supplies of summer blend fuels.

So they are shutting down in January for maintenance that was to occur in October (as you said earlier) or did they shut down to switch to summer blend? If summer blend, why now? Why so early?

 

[Charles Kozierok]

You can say that about anything in life.

Yes, but it is best applied to things in life over which one has no control.

I see little discussion of the actual impacts on the economy here, and a whole lot of whining, accusations and implied conspiracies.

Gas prices are going to do what they're going to do. Your choice is to accept that and make necessary adjustments if necessary, or allow yourself to devolve into a bitter, angry person obssessed with every move in the gas price, like a certain someone here.

 

[Engineer]

Yes, but it is best applied to things in life over which one has no control.

I see little discussion of the actual impacts on the economy here, and a whole lot of whining, accusations and implied conspiracies.

Gas prices are going to do what they're going to do. Your choice is to accept that and make necessary adjustments if necessary, or allow yourself to devolve into a bitter, angry person obssessed with every move in the gas price, like a certain someone here.

Again, that can be said about 99% of the stuff in our lives.

I do agree that there is little discussion on the actual impacts of the economy though. I notice that the grocery prices are going through the roof here (yes, I do the shopping in my house). I buy generic and on sale only (my wife buys whatever - that's the reason I do the shopping).

I use about one (1) tank a month in my 2003 Dodge Intrepid for work purposes (just over 300 miles per month) if even that much. I combine (and have been for years now) trips as much as possible. I refuse to go get an item that costs $2.00 when it will cost me $5.00 when factoring in gas unless I absolutely cannot live without it until a later, combined trip.

We were told during the 2008 election that Drill, Drill, Drill was our way out of this. Our production has soared...and so has our gasoline prices.

In a consumer based economy that has stagnant to declining REAL wages, having the highest percent of your household income in over 30 years going to gasoline purchases while at the same time, our use of gasoline as a nation is at nearly a 1.5 decade low is not going to help push the economy forward. Just look at the continued slowness of the economy for the last several years (over a decade really).

Our economy is not solely driven on energy prices and I know that (exporting jobs, taxation, etc. have large effects also) but to deny that gasoline prices going from $0.50 in 1998 to $3.85 in 2013 hasn't hurt the economy is a complete denial of what's going on around us.

 

[Nintendesert]

Of course it hurts, and it hurts the poor and middle class the most. We're exporting records amount of refined gasoline, pumping more crude and yet our prices here in America continue to skyrocket. All while these big oil companies make record profits and nobody does shit about it. Them and the banks are just fleecing America and both parties protect them.

 

[Londo_Jowo]

So they are shutting down in January for maintenance that was to occur in October (as you said earlier) or did they shut down to switch to summer blend? If summer blend, why now? Why so early?

They did both, skipped normal maintenance in September/October just shut off the summer blend feed equipment to the process and now have shut down to perform maintenance/prepare the blend feed equipment. When they come back up they will be producing summer blend fuels.

 

[dmcowen674]

Originally Posted by Engineer
You can say that about anything in life.

Yes, but it is best applied to things in life over which one has no control.

I see little discussion of the actual impacts on the economy here, and a whole lot of whining, accusations and implied conspiracies.

Gas prices are going to do what they're going to do.

Your choice is to accept that and make necessary adjustments if necessary, or allow yourself to devolve into a bitter, angry person obssessed with every move in the gas price, like a certain someone here.

You are not discussing the impact on the economy because clearly you profit personally from the bullshit.

You go ahead and be complacent to clear raping of America by the Corporations.

How much they paying you?

You are right about one thing, there are no conspiracies, it's 110% pure pillage.

Speaking of control and they put this guy in charge. Unreal.

 

[dmcowen674]

Originally Posted by Engineer
So they are shutting down in January for maintenance that was to occur in October (as you said earlier) or did they shut down to switch to summer blend? If summer blend, why now? Why so early?

They did both, skipped normal maintenance in September/October just shut off the summer blend feed equipment to the process and now have shut down to perform maintenance/prepare the blend feed equipment. When they come back up they will be producing summer blend fuels.

and that's not criminal how?

Why should I have to pay more because they decide to do both at same time?

Of course every time is a rotation of the same lame excuses that they should be making less profit on, not more.

It's backwards, they should be rewarded for good work not excuses.