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

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Doppel

Lifer
Feb 5, 2011
13,306
3
0
Let's just hope that the auto companies start focusing on producing high MPG plug-in hybrid cars that sell for $15,000 cause we're gonna need them.
Cheapest plug in coming out this year will cost twice that, but a Prius can be had new for $23k-24k and a Honda insight for under $20k. Or get a compact or econobox for many thousands less. The cars exist that give good mileage and are cheap to run.
 

werepossum

Elite Member
Jul 10, 2006
29,873
463
126
Sounds kinda silly to blame the President for high oil prices doesn't it?
Yes, but the same blame was attached to Bush, and any number of progressives here will defend blaming Bush while insisting that Obama is blameless. Unfortunately far too many Americans believe that the President "runs the country" and is therefore responsible for high gas prices, if not directly in charge of setting them. I have heard people interviewed who insisted that Bush actually set gasoline prices.
 
Oct 30, 2004
11,442
32
91
Cheapest plug in coming out this year will cost twice that, but a Prius can be had new for $23k-24k and a Honda insight for under $20k. Or get a compact or econobox for many thousands less. The cars exist that give good mileage and are cheap to run.

Yeah, you can get a Ford Fiesta, but what we really need are cars that can consistently get 50 mpg in the city.
 

bamacre

Lifer
Jul 1, 2004
21,030
2
61
Yes, but the same blame was attached to Bush, and any number of progressives here will defend blaming Bush while insisting that Obama is blameless. Unfortunately far too many Americans believe that the President "runs the country" and is therefore responsible for high gas prices, if not directly in charge of setting them. I have heard people interviewed who insisted that Bush actually set gasoline prices.

Bernanke and Congress deserve more blame than Obama.
 

Doppel

Lifer
Feb 5, 2011
13,306
3
0
Yeah, you can get a Ford Fiesta, but what we really need are cars that can consistently get 50 mpg in the city.
Like the Prius? It does cost $23-24k, though. There is a smaller, cheaper, better MPG Prius on the way in the next year or so to be sold (Prius C).

As an aside I bet most people don't realize that going from 25->50 mpg saves literally twice as much fuel per mile driven as going from 50->100 mpg. You quickly hit diminishing returns.

The sonata hybrid is now out, pretty quick, $26k, gets 35/40. Demand for hybrids is still quite low, though. The Altima hybrid only as recently as last december lost its $2500 tax credit. It could be had for about $20k after that and still hardly sold any units--basically the same thing as the camry hybrid.

I believe there is a fundamental problem in people's ability to calculate how much gasoline impacts their actual finances. I genuinely think many people either cannot or have not even a clue about how much they spend per month on gasoline, perhaps lacking the grade 3 math ability to figure it out on a monthly or annual basis. There is also a limitless amount of FUD about hybrids. The bad press has piled on from day one about such myths as battery life to how emasculating they are.
 
Last edited:
Oct 30, 2004
11,442
32
91
Like the Prius? It does cost $23-24k, though. There is a smaller, cheaper, better MPG Prius on the way in the next year or so to be sold (Prius C).

The Prius C sounds like a good idea. Here are three links to some articles about it (with photos).

http://www.treehugger.com/files/201...er-prius-c-concept-2011-detroit-auto-show.php

http://green.autoblog.com/2011/01/10/toyota-prius-c-concept-detroit-2011/

http://blogs.edmunds.com/greencarad...cover-off-of-three-prius-hybrid-siblings.html
 

dmcowen674

No Lifer
Oct 13, 1999
54,894
47
91
www.alienbabeltech.com
4-15-2011

http://news.yahoo.com/s/ap/20110415...DeW5faGVhZGxpbmVfbGlzdARzbGsDb2lsYWJvdmUxMDhh

Oil above $108 as traders eye US dollar, economy


Oil prices hovered above $108 a barrel Friday in Asia as a traders mulled a weaker U.S. dollar and signs of strong U.S. gasoline demand to justify a two-month rally.

For much of the last decade, there has been a strong correlation between the dollar and oil prices. If the U.S. currency falls, it makes dollar-based commodities such as crude cheaper for investors with other currencies.


The oil/dollar correlation weakened between about October and March, but has returned this month, and on Thursday the dollar fell to a 16-month low against a basket of six major currencies.


"This relationship has re-coupled, with a vengeance," The Schork Report said. "Thus, here we go again, as goes the dollar, goes oil, in the opposite direction."

"It looks to us like oil prices have had their correction," Cameron Hanover said in a report. "We continue to believe that prices will advance again to post new highs before May 30."
===================================
Remember Trump said Gas will be $8
 

hal2kilo

Lifer
Feb 24, 2009
23,656
10,517
136
Yea, no problem, only 18 per cent of the increase is due to manipulation by the market. This is OK according to the likes of Cramer. Oh, by the way fuck head, where's my APPL @ $400. Oh you were wrong again? Typical Walll Steet take the money from OUR Country and run fucks!
 

dmcowen674

No Lifer
Oct 13, 1999
54,894
47
91
www.alienbabeltech.com
Yea, no problem, only 18 per cent of the increase is due to manipulation by the market. This is OK according to the likes of Cramer. Oh, by the way fuck head, where's my APPL @ $400. Oh you were wrong again? Typical Walll Steet take the money from OUR Country and run fucks!

Whats the issue? Its at $332 with a target of $424
 

dmcowen674

No Lifer
Oct 13, 1999
54,894
47
91
www.alienbabeltech.com
Prices rise highest level in 36 years

4-14-2011

http://news.yahoo.com/s/ap/20110414/ap_on_bi_go_ec_fi/us_economy

A spike in the cost of gasoline pushed wholesale prices higher in March, a trend that could limit consumer spending in the coming months.

Overall, the Producer Price Index, which measures price changes before they reach the consumer, rose 0.7 percent last month and is up 5.8 percent over the past year, the Labor Department said Thursday. Food prices eased slightly in March after having risen in the previous month by the most in 36 years.

Companies added more than 200,000 jobs in March for the second straight month, the first time that has happened since 2006. The unemployment rate fell to a two-year low of 8.8 percent and has dropped a full percentage point since November


"Unfortunately, wage growth has not been commensurate with the pickup in job creation," said Dan Greenhaus, chief economic strategist at Miller Tabak. "The economy can add a zillion jobs but if wage growth is not coincident ... purchasing power is likely to be constrained."
 

blackangst1

Lifer
Feb 23, 2005
22,914
2,359
126
Prices rise highest level in 36 years

4-14-2011

http://news.yahoo.com/s/ap/20110414/ap_on_bi_go_ec_fi/us_economy

A spike in the cost of gasoline pushed wholesale prices higher in March, a trend that could limit consumer spending in the coming months.

Overall, the Producer Price Index, which measures price changes before they reach the consumer, rose 0.7 percent last month and is up 5.8 percent over the past year, the Labor Department said Thursday. Food prices eased slightly in March after having risen in the previous month by the most in 36 years.

Companies added more than 200,000 jobs in March for the second straight month, the first time that has happened since 2006. The unemployment rate fell to a two-year low of 8.8 percent and has dropped a full percentage point since November


"Unfortunately, wage growth has not been commensurate with the pickup in job creation," said Dan Greenhaus, chief economic strategist at Miller Tabak. "The economy can add a zillion jobs but if wage growth is not coincident ... purchasing power is likely to be constrained."

Why are you posting previous month FOOD prices in a gas thread? WTF is wrong with you?
 

Doppel

Lifer
Feb 5, 2011
13,306
3
0
Liz Taylor painting prices on the rise fast:

http://latimesblogs.latimes.com/culturemonster/2011/03/elizabeth-taylor-andy-warhol-painting-.html

The estimated price for “Liz #5,” painted in 1963, is $20 million to $30 million. Is this a bid to exploit Taylor’s death?
heh, exactly as I told you apologists years ago and was told it would never happen. Right again! Next stop $50B for Liz #5!

Chicago PD already have internment camps set up in the city for the gas riots, $8 gas so says Trump, etc.
 
Dec 30, 2004
12,554
2
76
Something else I posted on here would start happening

4-8-11

http://chicago.cbslocal.com/2011/04/08/gasoline-thefts-on-rise-in-suburbs/

Gasoline Thefts On Rise In Suburbs



The average price of a gallon of gasoline in Chicagoland is hovering just above $4 a gallon, and that has led to reports of gasoline siphoning in some suburbs.

WBBM’s Mary Frances Bragiel reports, west suburban St. Charles had two reports of gasoline theft last month, prompting police to advise residents to park their vehicles in the garage.

In Naperville, more than $900 worth of diesel fuel was siphoned out of four trucks, which investigators believe is connected to high gas prices.

don't doubt it, no jobs no money but gotta go somewhere, what do you do in our society?

Next 50 years are going to be rough.
 
Dec 30, 2004
12,554
2
76
Prices at 140 year high driving up cost for essential items:

http://www.9wsyr.com/news/local/sto...up-clothing-costs/OaAhdjqnQkm2p1ZcHuYR7g.cspx

The price of cotton has climbed to a 140-year high, the highest price since just after the Civil War. For shoppers, it could translate into a 10 or 15 percent jump in clothing prices.

can someone prove to me that it's not excessive wealth hedging against inflation that's driving the costs up so much?

My friend and I debated last night, his reasoning was that the Quantitative Easing the Fed has done has driven the worth of the dollar down which is pushing the cost of buying goods (gas, anything we can export) on the global market more relative to other currencies. IE 1 [other currency] buys 1 [quantity] of [thing] and the dollar used to buy 1 [other currency] but now only buys 0.8 [other currency] so you have to spending $1.25 to buy the same amount that 1 [other currency] gets you.
 

fskimospy

Elite Member
Mar 10, 2006
84,838
49,548
136
I personally have no idea why people care about gas prices this much. Yes, paying significantly more for the same product blows. That being said, unless you are a heavy commuter or drive a Hummer, in the scheme of a monthly budget it's hard for me to see how a dollar or two increase in gas prices really changes your life that much.

It's not that I don't see the macroeconomic issues at play here, but from a personal budgeting issue I've never gotten it.
 

dmcowen674

No Lifer
Oct 13, 1999
54,894
47
91
www.alienbabeltech.com
I personally have no idea why people care about gas prices this much. Yes, paying significantly more for the same product blows. That being said, unless you are a heavy commuter or drive a Hummer, in the scheme of a monthly budget it's hard for me to see how a dollar or two increase in gas prices really changes your life that much.

It's not that I don't see the macroeconomic issues at play here, but from a personal budgeting issue I've never gotten it.

Obviously from a personal standpoint you are comparatively rich which is why the increase in gas and food prices has no bearing on you.

Most people I know including myself have a small fixed budget of money leftover after paying fixed bill costs such as housing, utilities, credit card, car payments for gasoline and food.

With wages going down due to higher health care and taxes the money available for gas and food was already dwindling.

Now I have heard many people having to make a decision whether to fill the tank to get to work or not get food for the week. The food goes down to peanut butter and jelly so they can still go to work.

As the price pressures mount and the people can no longer meet bills and no longer eat to pay for a tank of gas you will no doubt start to see further news articles such as the Mom drowning kids in rivers and lakes, burning alive in ovens, more brazen robberies and thefts.
 

dmcowen674

No Lifer
Oct 13, 1999
54,894
47
91
www.alienbabeltech.com
Pictured gas station is way out in the western burbs of Chicago, close to an hour ride out there.

Stations in the city are closer to $4.50 with a couple closing in on $5 at $4.79

For the reading challenged that is not an average.

4-16-2011

http://www.suntimes.com/business/4851626-420/gas-prices-could-top-record-highs-by-memorial-day.html

Gas prices could top record highs by Memorial Day


Gasoline prices, on the rise for more than three weeks, could top all-time highs by Memorial Day.

Nationally, a gallon of regular averages $3.81 — up 10 cents in the last week and nearly 96 cents above year-ago levels.



Industry experts say prices could surpass July 2008’s record $4.11 nationally as seasonal demand, speculators and political uncertainty in Libya and the Middle East propel oil prices.


“We could easily tack on another 30 to 40 cents a gallon,” said Darin Newsom, senior analyst at energy tracker Telvent DTN.


Regular gas already is averaging $4.17 a gallon in Chicago and $4.20 a gallon in Los Angeles
 

Doppel

Lifer
Feb 5, 2011
13,306
3
0
"Most people I know including myself have a small fixed budget of money leftover after paying fixed bill costs such as housing, utilities, credit card, car payments for gasoline and food."

You're a grown man. Stop paying a monthly credit card bill and get some financial intelligence. Arguably dito on the car payments. Gotta pay to play; maybe you should drive an older vehicle for a while.

"As the price pressures mount and the people can no longer meet bills and no longer eat to pay for a tank of gas you will no doubt start to see further news articles touting nonsense from me."

Fixed.
 
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