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

[dmcowen674]

5-16-2011

http://news.yahoo.com/s/ap/20110516...5bl9oZWFkbGluZV9saXN0BHNsawNlY29ub21pc3RzbG8-

Economists: Lower growth, higher oil prices coming


Economists are dialing back their expectations for U.S. economic growth this year.

A survey from the National Association for Business Economics predicts GDP will grow 2.8 percent this year — down from the group's February prediction that it would grow 3.3 percent. Their outlook for consumer spending and the housing market also weakened, in part because they expect oil prices to remain above $100 a barrel through 2012.

Oil will average $105 per barrel this year, the economists said, up from $93 predicted in the last survey. They expect oil prices to remain elevated at $103 a barrel through 2012.
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Could these experts be wrong?

 

[Doppel]

This was a bigger task than I realized. In an effort to actually quantify the lies told by dmcowen674 I started scanning the posts. In the first 400 posts alone these posts contain demonstrable lies. Some are outrageous ones, like 370 and the increase in gas prices of $.50 overnight. Note, this list really is constrained and contains only statements that are beyond the subjective realm, typically having to do with the price of gas and how much it continues to go up. 13 posts in 400 threads I imagine we'd see over 30 in the entire thread, just from one guy if I kept going.

10,78,131,136,144,261,284,288,299,312,357,370,392

My personal favorite lie is in post 1105 and the stations changing out their signs, though.

 

[mizzou]

Round and round we go.

 

[WhipperSnapper]

Round and round we go.

Up and down we go again. Unfortunately it seems like it's all up.

 

[Doppel]

Up and down we go again. Unfortunately it seems like it's all up.

Not including the 15% drop in May

http://www.cnbc.com/id/43054130

 

[sao123]

PA cant get a break either... stupid enviro whackos.

We have entire tanks of winter gas sitting in our tanks right now, but prices are artifically inflated because of a shortage of summer gas...

PA applied for a waiver to be able to use winter gas after may 1, but the whackos denied it.

STUPID MORONS.

 

[WhipperSnapper]

Not including the 15% drop in May

http://www.cnbc.com/id/43054130

Maybe crude dropped in May, but you couldn't tell from the local gas pumps around here.

 

[dmcowen674]

PA cant get a break either... stupid enviro whackos.

We have entire tanks of winter gas sitting in our tanks right now, but prices are artifically inflated because of a shortage of summer gas...

PA applied for a waiver to be able to use winter gas after may 1, but the whackos denied it.

STUPID MORONS.

You don't seem to understand.

You must reward these companies with a lot of money out of your own personal pocket for them being incompetent.

5-14-2011

http://www.post-gazette.com/pg/11134/1146567-455.stm

EPA says no to Pennsylvania gas waiver

Agency calls area's supply of summer gasoline adequate

Deliveries of compliant fuels have been delayed five to seven days because of pipeline disruptions during the changeover from winter to summer gas and because of power outages and mechanical problems at East Coast refineries

Flooding in the South also has contributed to the problem because barges can't get through with fuel, they said.

"Everything lined up like the perfect storm, and we can't get resupplied. There's not enough product," said Nancy Maricondi, executive director of the Pittsburgh-based Petroleum Retailers and Auto Repair Association.

Suppliers informed EPA that there will be several major deliveries [Friday] and over the weekend, that supply is adequate to address demand in the area and that they do not believe a waiver is necessary.

Tom Kloza, chief analyst for the Oil Price Information Service, said there was no reason to panic about supplies.
"This is not the gasoline apocalypse. This is a finicky little parochial issue that happened to take place because of an ornery transition" from winter to summer fuels, he said. "The world will keep moving, and by Memorial Day everything will be back to normal."

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[Londo_Jowo]

Gas has gone down $0.25/gal in the last 3 weeks here.

 

[AznAnarchy99]

Gas down another 2 cents from last night. Filled at $4.07 this morning.

 

[Londo_Jowo]

I filled up yesterday afternoon for $3.55/gal (includes $0.10/gal Kroger club discount)

 

[dmcowen674]

Gas down another 2 cents from last night. Filled at $4.07 this morning.

Went down a whole penny here yesterday, wooohooo gas is cheap again at $4.68

 

[Capt Caveman]

Gas down in price six days in a row national, why isn't Dave reporting about it?

 

[Doppel]

Gas down in price six days in a row national, why isn't Dave reporting about it?

Because he's a chronic liar.

 

[dmcowen674]

5-19-2011

http://www.msnbc.msn.com/id/43084558/ns/business-eye_on_the_economy/

Gas prices widen divide between rich, not-rich


High gas prices are driving a wider wedge between the wealthy and everybody else.

The rich are back to pre-recession splurging: Saks Fifth Avenue and Nordstrom customers are treating themselves to luxury items like $5,000 Hermes handbags and $700 Jimmy Choo shoes, and purchasing at full price.


At Target and Walmart, shoppers are concentrating on groceries and skipping little luxuries. BJ's Wholesale Corp. said Wednesday that customers are buying more hamburger and chicken and less steak and buying smaller packs to save money.

More than a half-dozen corporate earnings reports this week show that for the affluent, rising prices are merely a nuisance. For others, they can mean scrimping to put food on the table.

It could get worse later this year, when clothing prices are expected to rise 10 percent to 15 percent. Meat prices are expected to rise 6 percent to 7 percent this year and dairy products as much as 5.5 percent, according to USDA estimates.


The bottom fifth of earners, with a median household income is $9,846, spend 35.6 percent of their income on food and 9.4 percent of their income on gas, according to a report by Citi Investment Research.

Wal-Mart Stores Inc. the world's largest retailer and a barometer of the financial health of consumers, has noticed rising gas prices are adding more financial strain on its low-income customers.



The median household income for shoppers at Wal-Mart's discount stores is anywhere from $42,000 to $45,000, estimates Craig R. Johnson, president of retail consultant Customer Growth Partners.


CEO Mike Duke told the media last month that Wal-Mart is seeing more pronounced drops in buying in the few days before the end of the month when money is tight and then a big spike in spending during the first few days of the month when many shoppers get paychecks or government assistance.

"The importance of delivering everyday low price has never been as great, as our customers are consolidating trips due to higher gas prices," said Bill Simon, CEO and president of Wal-Mart's U.S. division.

 

[Londo_Jowo]

Gas down another $0.04/gallon at the stations close to where I live.

 

[airdata]

Gas has gone down $0.25/gal in the last 3 weeks here.

Yep, around Dallas it was up to 3.89 and now it's down to 3.77. I don't think I've paid above $4/gallon yet.

 

[WhipperSnapper]

I wish it would drop in my neck of the woods. It's been holding steady at $3.95 for a couple weeks now.

 

[Capt Caveman]

Gas prices down for the 7th day nationally. Dave!!!!!!!!!!!!!!!

 

[Doppel]

Gas prices down for the 7th day nationally. Dave!!!!!!!!!!!!!!!

Dave couldn't be here but PMed me to tell you that gas in Chicago went up 35 cents last night.

 

[dmcowen674]

That penny that gas went down yesterday, scratch that, they put the penny back up today.

Oil back up over $100 today, went up $3

5-19-2011

http://www.thestreet.com/story/11123584/1/oil-price-rebounds-on-bullish-data.html?cm_ven=RSSFeed

Oil Prices Settle Above $100

Oil prices rebounded to settle above $100 on surprising inventory data and a return of risk appetite.

After the last few days of prices moving lower, the crude complex looked ripe for a rebound, especially with the combination of rising equities and a weaker dollar overnight to lend support."

 

[dmcowen674]

Well no doubt the 6 out of 10 Americans not affected by high gas prices are all here in P&N

I however certainly part of the 4 out of 10 affected

5-20-2011

http://news.yahoo.com/s/ap/20110520...5bl9oZWFkbGluZV9saXN0BHNsawNwcmljZXNhdGdhc3A-

Prices at gas pump painful for 4 in 10 Americans


With gasoline prices hovering at $4 a gallon nationally, many Americans are making tough choices: scaling back summer vacations, driving less or ditching the car altogether. Some seniors are choosing a tank of gas over their prescriptions.

71 percent said rising prices will cause some hardship for them and their family, including 41 percent who called it a "serious" hardship. Just 29 percent said rising prices are not causing a negative impact on their finances.

 

[Londo_Jowo]

That penny that gas went down yesterday, scratch that, they put the penny back up today.

Oil back up over $100 today, went up $3

5-19-2011

http://www.thestreet.com/story/11123584/1/oil-price-rebounds-on-bullish-data.html?cm_ven=RSSFeed

Oil Prices Settle Above $100

Oil prices rebounded to settle above $100 on surprising inventory data and a return of risk appetite.

After the last few days of prices moving lower, the crude complex looked ripe for a rebound, especially with the combination of rising equities and a weaker dollar overnight to lend support."

Oil is below $99/barrel.

http://money.cnn.com/data/commodities/

 

[Murloc]

Well no doubt the 6 out of 10 Americans not affected by high gas prices are all here in P&N

I however certainly part of the 4 out of 10 affected

5-20-2011

http://news.yahoo.com/s/ap/20110520...5bl9oZWFkbGluZV9saXN0BHNsawNwcmljZXNhdGdhc3A-

Prices at gas pump painful for 4 in 10 Americans


With gasoline prices hovering at $4 a gallon nationally, many Americans are making tough choices: scaling back summer vacations, driving less or ditching the car altogether. Some seniors are choosing a tank of gas over their prescriptions.

71 percent said rising prices will cause some hardship for them and their family, including 41 percent who called it a "serious" hardship. Just 29 percent said rising prices are not causing a negative impact on their finances.

it can be a good thing to promote public transport.

 

[novasatori]

it can be a good thing to promote public transport.

What public transport, this is America you commie!

(We actually have decent Public Transit here, but I'm pretty sure its an exception)