F... gas prices

[MTK]

$6/gallon isn't going to cause an economic collapse. I think prices would have to climb a lot higher than that to have a big impact or for the gov't to step in.

[Slingin Sammy 33]

Originally Posted by Daseal

.....I love how people love to preach free market and capitalism -- then bitch when oil companies charge more for gas.....

It's time to start finding renewable energy sources. Not bitch about gas prices.

I agree we should be working on renewable energy, but the side of the free market being squeezed for the U.S. is the supply side. If the Obama Admin would allow the development of our existing supplies in Alaska, offshore, etc. we could keep our prices reasonable, while at the same time squeezing the economies of folks who we aren't getting Christmas cards from (Venezula, Middle East, etc.). But the Obama Admin and congressional Dems wants higher gas prices to force more "alternative energy" and "public transportation" projects which are as of right now, not cost efective.

Shell Cancels 2011 Arctic Drilling Plans - NYTimes.com

U.S. in Contempt Over Gulf Drill Ban, Judge Rules - Bloomberg

Obama Will Make You Pay Higher Gas Prices | The Foundry: Conservative Policy News.

Offshore Ban and Rising Gas Prices | The Foundry: Conservative Policy News.

[mlmpetert]

Originally Posted by Monkeydad

You can't possibly admit it's getting the same attention or vitriolic ranting and raving.

Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama


Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama

WOW, REDICULOUS...

Ive been really busy and havent watched any tv for a week until last night (just watched my boy Glenn Beck, though). I just don’t understand how news channels can just flat out ignore things or take opinion or biases on events. Maybe theres been other big things going on; Japan clean up, severe weather? Maybe it isnt as big of a story the second time around within a few year period?

Either way its times like these I love my 4 cyl 5 speed Honda accord. I get around 31-33 on the highway and average about 28 total in that sucker. Also whats scary is it’s not even summer and you have to think gas prices are gonna continue to go up. Every year I talk about how im going to buy an oil price etf before summer. This year I finally did around late January/early feb so im slightly hedged.

I honestly think a sustained 6 dollar mark will have a drastic impact on our economy. Most people I know are cutting back and/or changing their driving habbits. This time around people are more prepared or more ready for it, but after a couple months of paying 4 dollars and IF prices continue to rise to 6 or so people are going to be hurting big time.

Either way I guarantee you new networks wont be ignoring headlines of 6 dollar gas, even 5 dollars might be psychological barrier when news stations starting focusing on Pain at the Pump 2011

[mlmpetert]

Originally Posted by Slingin Sammy 33

I agree we should be working on renewable energy, but the side of the free market being squeezed for the U.S. is the supply side. If the Obama Admin would allow the development of our existing supplies in Alaska, offshore, etc. we could keep our prices reasonable, while at the same time squeezing the economies of folks who we aren't getting Christmas cards from (Venezula, Middle East, etc.). But the Obama Admin and congressional Dems wants higher gas prices to force more "alternative energy" and "public transportation" projects which are as of right now, not cost efective.

Shell Cancels 2011 Arctic Drilling Plans - NYTimes.com

U.S. in Contempt Over Gulf Drill Ban, Judge Rules - Bloomberg

Obama Will Make You Pay Higher Gas Prices | The Foundry: Conservative Policy News.

Offshore Ban and Rising Gas Prices | The Foundry: Conservative Policy News.

You forgot this link:

YouTube - Barack Obama Admits: Energy Prices Will...

[mlmpetert]

Originally Posted by Daseal

Simple supply and demand. Some of the largest countries in the world are becoming industrialized. With the rise of demand from India and China there's no doubt prices will go up. I love how people love to preach free market and capitalism -- then bitch when oil companies charge more for gas. They should be doing what nets them the highest profit. Who here has stopped driving? I haven't. It will take a much high price to get me to quit as well.

It's time to start finding renewable energy sources. Not bitch about gas prices.

But its not so simple. So 2005 was hurricane Katrina and that was primarily a true simple supply and demand problem (plenty of oil, not so many refineries to make gas). 2008 was primarily a oil and commodities speculation problem as is today. There are plenty of barrels of oil out there to indicate much lower prices, its just that there are also a lot of speculators out there for a whole lot of reasons (Middle East unrest, Japan, Obama energy policies, current monetary policy, summer driving and gas blends, hurricane season approaching, Emerging Market growth, global warming, Gulf drilling restrictions, refinery building restrictions, shrinking oil reserves, ect).

Its not like there are only 1000 hotdogs for sale at a baseball game with 50,000 people and the venders are bidding the price up. Theres plenty of hotdogs for this baseball game, its just concern about next seasons baseball game that’s driving the price up for today’s matchup. Plus its not even the fans in attendance or venders that are driving up the price of hotdogs, its people watching the game at home biding on contacts that outnumber the number of hotdogs 10,000 to 1.

Derivatives anrt so cut and dry as a baseball game hotdog (no almost-pun intended!) and are really hard to understand especially in depth but most scholars think that they add to market efficiencies. I wonder if people biding on contracts that have no underlying physical holding creates the opposite effect, especially when it comes to things that can affect people lives like food and oil.

[TheMalcolmConnection]

Originally Posted by Mattyk

People are simply more numb to gas prices now then they were 3 years ago. Plus we have bigger fish to fry these days, back before the market went belly up in late 2008 $4 gas was an easy target. These days, not so much.

It happens like this almost every time it goes up. Basically it'll get up to well over $4, then back down to like $2.50 and we'll all be like YAY! and it'll steadily climb back up to hover around $3 and we'll all think it's the greatest thing ever. The past three times gas has gone up it goes way up, goes way back down, then settles higher than it was before it went up. Totally agree about being numb.

[redsk1]

Originally Posted by Mattyk

$6/gallon isn't going to cause an economic collapse. I think prices would have to climb a lot higher than that to have a big impact or for the gov't to step in.

It may not cause an economic collapse but it may cause another recession. Another $2/gallon would cause prices to increase on the majority of goods sold especially food, put companies out of business, etc, etc. It would cause significant harm to our already damaged ecomony.

[mredskins]

Originally Posted by redsk1

It may not cause an economic collapse but it may cause another recession. Another $2/gallon would cause prices to increase on the majority of goods sold especially food, put companies out of business, etc, etc. It would cause significant harm to our already damaged ecomony.

Yeah I have to agree you would be doubling folks fuel budget. It has a trickle effect people still spend the money on gas becasue they have too but they have to pull back in other areas, like going out to eat, the movies, toys, etc...

[mlmpetert]

Originally Posted by Monkeydad

You can't possibly admit it's getting the same attention or vitriolic ranting and raving.

Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama


Networks Link Bush to 'Skyrocketing' Gas Prices 15 Times More Than Obama

Saw this over the weekend:

As Obama targets traders, some media analysts argue that he is getting a free ride on the skyrocketing prices compared to former President George W. Bush who was largely blamed for soaring hikes near the end of presidency in 2008.

"The numbers are fascinating… There were 280 network news stories" dealing with the issue of recent rising gas prices, Brent Bozell, president of Media Research Center, told Fox News. "Only three, three out of 280 mentioned the Obama administration's responsibility in this."

Bozell argued that the administration does deserve some blame for the prices since isn't looking at its own actions affecting higher gas costs.

"Whereas the Republicans wanted to drill more, and still want to drill more … drilling is down 13 percent in the last year," he said. "That is a huge, huge contributor to the problem we have of rising gas prices."

Obama Eyes Speculators for Rising Gas Prices, as Other Factors Play Role - FoxNews.com

[Slingin Sammy 33]

$ 83.00 to fill up, thanks again Obama Admin.

Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans - FoxNews.com

"The EPA did not return repeated calls and e-mails. The Environmental Appeals Board has four members: Edward Reich, Charles Sheehan, Kathie Stein and Anna Wolgast. All are registered Democrats and Kathie Stein was an activist attorney for the Environmental Defense Fund. Members are appointed by the EPA administrator. Alaska’s Republican senator thinks it’s time to make some changes."

[SolidSnake84]

The Obama gas task force is going to do the same job as the Obama everything else. It wont do shit, and the american people will be left feeling the pain.

Seriously though, the government can't do jack shit about the price of gas.

[Alvin Walton]

$4.17 now here in west Michigan.
This economy is so fecked up its ridiculous.

[Slingin Sammy 33]

Originally Posted by SolidSnake84

The Obama gas task force is going to do the same job as the Obama everything else. It wont do shit, and the american people will be left feeling the pain.

Seriously though, the government can't do jack shit about the price of gas.

Actually it can, by permitting or declining requests to increase domestic production.

[GMScud]

Originally Posted by Slingin Sammy 33

$ 83.00 to fill up, thanks again Obama Admin.

Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans - FoxNews.com

"The EPA did not return repeated calls and e-mails. The Environmental Appeals Board has four members: Edward Reich, Charles Sheehan, Kathie Stein and Anna Wolgast. All are registered Democrats and Kathie Stein was an activist attorney for the Environmental Defense Fund. Members are appointed by the EPA administrator. Alaska’s Republican senator thinks it’s time to make some changes."

Cost me $72 to fill up my 18 gallon tank on Saturday. That stings.

[MTK]

Let's hope this is the case

Gas prices rise slower, may have peaked - CNN.com