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

[dmcowen674]

12-27-2010

http://news.yahoo.com/s/ap/oil_prices

Oil over $91

Some analysts are concerned that higher oil prices, which have jumped almost 30 percent since September, could fuel inflation and undermine [COLOR=#366388 ! important][COLOR=#366388 ! important]global [COLOR=#366388 ! important]economic [/COLOR][COLOR=#366388 ! important]growth[/COLOR][/COLOR][/COLOR].

"High oil prices were one of the contributors to the last global crisis," JBC Energy said in a report. "The largest effect of an oil price shock on the economy occurs around three to four quarters after the price spike."

 

[bamacre]

High oil prices don't cause inflation, they are the result of inflation.

 

[dmcowen674]

High oil prices don't cause inflation, they are the result of inflation.

You should write the article writers and the Economists that they are all wrong.

 

[bamacre]

You should write the article writers and the Economists that they are all wrong.

It would be like me telling you how to use links on the forum. Or like telling Lemon Law his lines of dashes aren't necessary.

 

[IGBT]

no surprise. The price of ALL goods and services are tied to transportation and energy costs. Watch what cap/trade hoax does to all transactions. You haven't seen anything yet.

 

[dmcowen674]

no surprise. The price of ALL goods and services are tied to transportation and energy costs. Watch what cap/trade hoax does to all transactions. You haven't seen anything yet.

12-28-2010

http://www.dailynews.com/news/ci_16952115?source=rss

Gas prices headed for record highs



Crude prices are nearing $100 a barrel and experts predict we'll see $4-per-gallon gas at the pump next year.

Gas prices in Los Angeles rose Monday for the sixth consecutive day to an average $3.291 a gallon for regular unleaded - 35.8 cents more than this time last year and the highest since October 2008.

The national average added less than a penny Monday to $3.042 per gallon, according to auto club AAA, Wright Express and Oil Price Information Service. A gallon of regular unleaded was 18.3 cents higher than it was a month ago and 44.2 cents more than it was last year.
But in states from California to Connecticut, $3-per-gallon gas was fading fast in the rearview mirror.



Stations in Chicago are already over $4

 

[dmcowen674]

http://money.cnn.com/2010/12/27/markets/oil_commodities/index.htm

2-28-2010


Ex-Shell president sees $5 gas


in 2012


The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.

Gasoline prices have been steadily rising. Last week, gas prices crossed the $3 mark for the first time since October 2008.

 

[Londo_Jowo]

Stations in Chicago are already over $4

Not according to AAA.

http://fuelgaugereport.opisnet.com/ILmetro.asp

 

[moparacer]

"The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012."

If that's the case you can kiss this so called recovery good by....

4.00 a gallon gas is what started the big downhill slide in the first place.

 

[boomerang]

"The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012."

If that's the case you can kiss this so called recovery good by....

4.00 a gallon gas is what started the big downhill slide in the first place.

Maybe we could do some drilling? Naw, too capitalistic...

 

[dmcowen674]

Not according to AAA.

http://fuelgaugereport.opisnet.com/ILmetro.asp

Those websites are always at least a week off even though they say within 24hrs.

 

[dmcowen674]

Maybe we could do some drilling? Naw, too capitalistic...

Why would drilling be needed?

There is too much inventory of oil as it is.

Stockpiles are at 30 plus year highs.

 

[K1052]

Those websites are always at least a week off even though they say within 24hrs.

I live downtown and drive, the very highest I've seen in the last couple days is about 3.70.

 

[ElFenix]

there's probably that 1 station in the ghetto that is always $0.50 higher than everywhere else. for dave, that means all gas is over $4.00.


edit: gasbuddy gets rid of old entries, i'm not seeing many 4s.

http://www.gasbuddy.com/gb_gastemperaturemap.aspx?z=7&lat=41.849243&long=-87.750488&ft=A&tl=48

 

[blackangst1]

Those websites are always at least a week off even though they say within 24hrs.

No, they arent. Youre making up shit.

Again.

 

[bamacre]

4.00 a gallon gas is what started the big downhill slide in the first place.

Nope, it was a symptom.

 

[Londo_Jowo]

Those websites are always at least a week off even though they say within 24hrs.

They're spot on for the Houston area. I find it hard to believe that Chicago is special.

 

[IGBT]

quantitative easing is devaluing the dollar. Risky unconventional monetary policy, smoke and mirror economic policies pushed by your obama is crippling the economy. The number one problem with the american economy is your obama. He's simply bad for business and not trustworthy.

 

[dmcowen674]

quantitative easing is devaluing the dollar. Risky unconventional monetary policy, smoke and mirror economic policies pushed by your obama is crippling the economy. The number one problem with the american economy is your obama. He's simply bad for business and not trustworthy.

Oil hit $150 and $5 gas under Bush, did you say the same thing then about him?

OPEC just had their meeting and this time they want $250 barrel and $6 gas

 

[bamacre]

Oil hit $150 and $5 gas under Bush, did you say the same thing then about him?

I did. And you should look what happened to the money supply from, roughly, 2000 to 2007.

 

[JD50]

Well it looks like Dave is only 5 years off with his prediction of $5 per gallon gas.

 

[bamacre]

Well it looks like Dave is only 5 years off with his prediction of $5 per gallon gas.

It could go higher than $5. If the dollar keeps dropping, and the economies in the East keep climbing, it surely will.

 

[CLite]

OPEC just had their meeting and this time they want $250 barrel and $6 gas

OPEC wants $90/barrel oil because $250/barrel oil would drive people to explore alternative energies. In the 80's the Saudi's crashed oil prices which killed shale rock in the USA.

If oil hit $250/barrel (which it's not) it would cripple OPEC *longterm*. Consumption would constrict massively, and inventories would skyrocket as member nations broke their quota limitations and this would create a massive over-supply. After this over-supply prices will crater again, well below equilibrium (as experienced in 2008/2009). Additionally after experiencing two shocks of extreme oil prices nations will be even further entrenched on exploring alternative energies.

 

[Darwin333]

quantitative easing is devaluing the dollar. Risky unconventional monetary policy, smoke and mirror economic policies pushed by your obama is crippling the economy. The number one problem with the american economy is your obama. He's simply bad for business and not trustworthy.

To be fair he is mostly continuing Bush's policies.

 

[chucky2]

Yes, but he was elected to be the anti-Bush/Republican POTUS.

Hope and Change, remember?