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

[heymrdj]

I'll stop posting gas prices close to me just as soon as McOwned stops posting every outlying extreme high price or stops crying about how Chicago is being screwed which is partially due to local taxes (county & city) that others don't pay..

So it's McOwned and Jowoned now since you both sensationalize? Do I need to waste time like you two and post USA averages to show how you both lie and sensationalize daily?

 

[Londo_Jowo]

So it's McOwned and Jowoned now since you both sensationalize? Do I need to waste time like you two and post USA averages to show how you both lie and sensationalize daily?

How is posting the actual prices where I live lying? There are other areas in the country that has gas prices lower than Texas yet I don't post their prices.

If you want to use the US average please do so.

 

[dmcowen674]

So it's McOwned and Jowoned now since you both sensationalize? Do I need to waste time like you two and post USA averages to show how you both lie and sensationalize daily?

The only thing "sensational" is how much Jowo and lopped hate the country but they sure love the money they are making raping Americans.

Jowo proudly admits to being in the Oil Thug Industry, especially proud of providing the product and services to the Refineries that have maintenance problems all the time using his incompetent products and services that they use as an excuse to raise prices.

Do you have a job that you get paid more and rewarded for being as shitty as possible at your job like Jowo?

 

[Londo_Jowo]

Do I need to waste time like you two and post USA averages to show how you both lie and sensationalize daily?

Please take note there's at least 10 states with lower gas prices than Texas or for that matter where I live in Texas. Yet I never cited any of them when posting in here whereas McOwned finds all the over the top prices while ignoring the cheaper prices as close a 1/4 mile away.

http://money.cnn.com/news/storysupplement/economy/gas_prices_by_state/

 

[heymrdj]

Please take note there's at least 10 states with lower gas prices than Texas or for that matter where I live in Texas. Yet I never cited any of them when posting in here whereas McOwned finds all the over the top prices while ignoring the cheaper prices as close a 1/4 mile away.

http://money.cnn.com/news/storysupplement/economy/gas_prices_by_state/

My problem isn't the current price, the problem is that Texas is relatively impervious to price changes.

http://www.TexasGasPrices.com/retai...y1=Texas&city2=&city3=&crude=n&tme=1&units=us

.11$, wow that's big (not).

 

[Londo_Jowo]

My problem isn't the current price, the problem is that Texas is relatively impervious to price changes.

http://www.TexasGasPrices.com/retai...y1=Texas&city2=&city3=&crude=n&tme=1&units=us

.11$, wow that's big (not).

So now you're changing goal post after I show you that there are 10 states with lower prices than Texas.

You have yet to back up your claim that I sensationalize or lie about gas prices. Please show where I have done either concerning gas prices.

So it's McOwned and Jowoned now since you both sensationalize? Do I need to waste time like you two and post USA averages to show how you both lie and sensationalize daily?

 

[Svnla]

$3.34/gal for regular unleaded here.

 

[Doppel]

Overall gas prices have continued to fall across the US over the past month.

 

[OverVolt]

Overall gas prices have continued to fall across the US over the past month.

Because of Europe. You don't use much gas commuting to work, even if its by bus, if you don't have a job, ya dig.

Spain has 50% youth unemployment LOL. As does Greece, probably now Cypress, etc. Unemployment in Europe starts in the periphery and is spreading inward toward Germany and its just a matter of time.

 

[Londo_Jowo]

Looks like the worst may be over. With any luck the prices will continue to drop as summer blend stocks increase.

http://www.usatoday.com/story/money...ont-be-as-high-as-initially-forecast/2024861/

After surging nearly 60 cents a gallon from late December to a recent peak of $3.79 on Feb. 27, prices have fallen for 25 of the past 29 days. Nationally, regular grade gas averages $3.64 a gallon -- 28 cents below year-ago levels.

The month-long drop has come at a time when gasoline prices typically climb, prompting some industry forecasters to rethink early 2013 estimates of $4 a gallon or higher by the peak summer driving season.

With the oil-rich Middle East relatively stable, U.S. refineries relatively problem-free, domestic production rising and consumers using less gasoline, prices may have peaked. Patrick DeHaan, senior petroleum analyst for price tracker GasBuddy.com, now expects average prices to peak at $3.64 to $3.69, versus the $3.95 he predicted in January.

"I just don't see a run-up to $4 this year,'' DeHaan says. GasBuddy monitors prices in 166 cities. Prices have fallen in all of them.

 

[Engineer]

Looks like the worst may be over. With any luck the prices will continue to drop as summer blend stocks increase.

http://www.usatoday.com/story/money...ont-be-as-high-as-initially-forecast/2024861/

That's great news and hope it continues. Gas fell all the way to $3.39 in Lexington before jumping back to $3.69 on Thursday. Of course, I needed gas in my car but was driving the company car while the prices dipped and then spiked. Now I've got to buy the $3.69 stuff....damnit.

 

[OverVolt]

It falls 2 cents and rises 3 derp. Its a bit obvious IMO. Thats been the trend since ohgee, 2000

You can extrapolate the rise in prices this decade out for 5-10 years, about the life of a car and realize an SUV sold in 2013 is going to cost a hell of a lot to run in 2018 or 2023 but that doesn't seem to stop anyone from buying them. I just think they look at the pump today and see a little over $3 and figure its not too bad and then normalcy bias takes over.

It couldn't actually go to $5-6 by 2018 right?

right?

 

[Doppel]

You can extrapolate the rise in prices this decade out for 5-10 years

You can't in good conscience as I cannot imagine any energy analyst with any kind of a track history actually thinks that the decade rise we've had will happen again, bringing gas prices to $7+ gallon a decade from now. That won't happen.

Instead of picking an ultra low spot from a decade back it would be better to extrapolate over the past few decades.

You'll note that in fact gas has yet to hit the peak it hit in 2008, so if we pick a period 4.5 years ago and extrapolate from that we end up with lower gas prices 4.5 years from now

The extremes have to be smoothed out for any statistical analysis to be meaningful.

 

[OverVolt]

You can't in good conscience as I cannot imagine any energy analyst with any kind of a track history actually thinks that the decade rise we've had will happen again, bringing gas prices to $7+ gallon a decade from now. That won't happen.

Instead of picking an ultra low spot from a decade back it would be better to extrapolate over the past few decades.

You'll note that in fact gas has yet to hit the peak it hit in 2008, so if we pick a period 4.5 years ago and extrapolate from that we end up with lower gas prices 4.5 years from now

The extremes have to be smoothed out for any statistical analysis to be meaningful.

Smoothing out the peak in 2008 still leads to an accelerated slope that started in ~1999-2000


If you start in 2000 you get ~$6 and change by 2018 (can you imagine 2023, that SUV will still be around 10 years from now even if its not owned by you) or if you include the 1970's - 1990's "artificial lows" which was really just the good days of light sweet crude coming online and are now long gone, then you still get ~$5 by 2018, but that is unrealistic, because at $5 in 2018 shale oil would probably be unprofitable and reduce supply.

http://inflationdata.com/Inflation/images/charts/Oil/Gasoline_inflation_chart.htm

Read the bottom of the chart anyway, peaks are smoothed considerably by averages and the info is sourced out of the EIA. The rip and tear in 2008 really didn't affect the overall trend, although it was an over-reaction/speculation on the trend that took wall street by surprise I think.

Going way way back, gas prices were declining with more technology and more efficiency 1918-1999. Something happened in 1999-2000 that changed the course of oil prices, IMO permanently. Because those days are clearly long gone.

Quite the trend reversal IMO. And its obvious from a physical standpoint, we are desperate enough for oil that we crack it out of the shale deposits.

This is how I interpret the trends

http://img145.imageshack.us/img145/3299/shoddychart.png

The trend isn't as obvious for the nominal gas prices but you can see in 2000 it stops rising at just inflation rates (a little less actually) and goes parabolic anyway.

 

[OverVolt]

People can't read really, feel free to ignore the post above and see this! A picture of how I see things!

Ooo!

 

[Doppel]

That blue line sure seems aggressive...

I agree that things have permanently changed. Demand in gas is not entirely inelastic, so if by some miracle gas dropped down to $2 the demand would increase, particularly internationally, just as it has dropped a bit as gas has gone up.

My wild assed guess is that other than, at the very most, a temporary blip to national average of $6, we won't be there by 2020. I am guessing we'll finish the decade up right at around an average of $5, ignoring any shorter term blips up one way or the other.

 

[charrison]

That blue line sure seems aggressive...

I agree that things have permanently changed. Demand in gas is not entirely inelastic, so if by some miracle gas dropped down to $2 the demand would increase, particularly internationally, just as it has dropped a bit as gas has gone up.

My wild assed guess is that other than, at the very most, a temporary blip to national average of $6, we won't be there by 2020. I am guessing we'll finish the decade up right at around an average of $5, ignoring any shorter term blips up one way or the other.

The other wild card and it is not so wild anymore is fracking technology which is bringing new sources online. Fracked wells in the US are profitable at $50-60/barrel. Natural gas and oil used to track each other in price, but that is no longer the case as natural gas is quite cheap now.

 

[charrison]

 

[OverVolt]

And?

How about oil and not all petroleum products.

I'm suspicious :hmm:

This includes all of our oil rigs correct?

 

[WhipperSnapper]

Hi! Remember me? I'm the Got Gas thread. I know y'all thought I had withered away and that gas prices would level out, but recently the news media has been reporting a price hike.

 

[Doppel]

Hi! Remember me? I'm the Got Gas thread. I know y'all thought I had withered away and that gas prices would level out, but recently the news media has been reporting a price hike.

seems, as usual, certain um extreme predictions on gas prices this year were once again and to no great surprise wildly off the mark

 

[desy]

No matter what I read of oil prices it just confirms more and more what I know of peak oil and how its going to play out in the long term.

A bumpy plateau, prices will vary as it yo-yos between too high and then demand destruction.

B The cheap easy oil has peaked, which is all peak oil ever said would happen. Shale, Tar sands, Heavy oil, NG to liquids, Ethanol are filling the demand above the peak of conventional oil.

C The only way to be energy independent is to invest in alternatives and become more efficient and conserve.

D There happens to be no shortage of articles claiming peak oil is dead, sorry substitutes are not what peak OIL was ever about, and are often using EIA's piss poor numbers and abysmal track record to bolster the arguments that we are flooded in oil. The peak as is so often misunderstood, is about the flow rate of oil since conventional oil peaked in 2005 the price shot up prompting a doubling of investments into the industry which has marginally increased liquid fuel supply from ALL sources.

This is why in spite of all this wonderful new technology ' a Bakken well puts out about 90 BPD not hundreds or thousands and instead of depletion in decades dies out in a few yrs despite the millions of $ drilling cost for a single well' prices remain high and will always be so. The marginal cost of a barrel will permanently keep it high because we can't meet demand with lower prices. The production stops at non-profitable levels.

All the nutty claims of oil company price fixing ' most oil is in the hands of governments not oil companies', no new refineries 'true but all that happened was they closed inefficient old refineries and increased capacity at existing refinery sites, you do know the US has never refined more oil? and geopolitics 'always existed' is just white noise compared to ever pervasive issue.

Its going to be expensive and continue on as such

 

[OverVolt]

I forgot I posted that here lol. I think price fixing doesn't exist, if the price were wrong for all these years there would be shortages if the price were manipulated too high.

 

[WhipperSnapper]

This is why in spite of all this wonderful new technology ' a Bakken well puts out about 90 BPD not hundreds or thousands and instead of depletion in decades dies out in a few yrs despite the millions of $ drilling cost for a single well' prices remain high and will always be so. The marginal cost of a barrel will permanently keep it high because we can't meet demand with lower prices. The production stops at non-profitable levels.

That's it? 90 barrels-per-day from a "Rockin' the Bakken" well?

 

[Pr0d1gy]

*points at the thread and laughs*

HAHAAAHHAHAHHAAAAAH......*catches breath*......
HAHAHAHAAHHHAAAHHHH!!!!!!!!!!!!