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Even when it comes back next summer!  http://www.cleveland.com/business/index.ssf/2011/01/the_eia_warns_that_average_gas.htmlThe EIA warns that average gasoline prices could soar over $4 next summer Published: Tuesday, January 11, 2011, 8:00 PM Updated: Tuesday, January 11, 2011, 8:55 PM By John Funk, The Plain Dealer Consumers who have been figuring that the high gasoline prices will fall, now that the holidays are over, had better think again. The U.S. Energy Information Administration said Tuesday that there is a slim chance national average gasoline prices could spike over $4 a gallon in September and an even better chance that average prices could run over $3.50 a gallon in the summer. The outlook is expensive for motorists and the U.S. economy as a larger share of family and business budgets could disappear into fuel tanks. But "there is also significant uncertainty surrounding the forecast" for the $4 spike the agency noted in its January Short Term Energy Outlook, a monthly prediction of energy demand, supply and prices, available at www.eia.doe.gov.Speaking with more certainty, the EIA predicted summer gasoline prices should average about $3.22 this year and $3.34 per gallon in the summer of 2012. Overall, the EIA is figuring the national average price should be about $3.17 per gallon in 2011 and $3.29 in 2012. The U.S. average price of gasoline was $2.78 last year and $2.35 in 2009. Average prices in Ohio are often -- though not currently -- lower than national average prices because the state has four refineries. Average prices Tuesday in Northeast Ohio were about $3.11, according to AAA, which publishes the statistics calculated daily by the Oil Price Information Service from day-before credit card sales. OPIS pegged the national average gasoline price Tuesday at $3.09. Competitor Gas Buddy calculated the average Cleveland price Tuesday night at $3.09 and the average national price at $3.07. The high gasoline prices could put a crimp in some family vacations. But diesel prices are on the same up escalator. And high diesel prices could have a ripple effect across the economy as freight bills increase. The EIA projects diesel prices to average $3.40 per gallon this year and $3.50 next. Diesel averaged $2.99 per gallon in 2010 and $2.46 per gallon in 2009. Diesel Tuesday was averaging $3.36 per gallon in Cleveland and $3.34 nationally. Soaring oil prices are the main driver of gasoline and diesel's meteoric rise over the last month, most of it driven by speculators, say analysts. The global and U.S. economies are recovering -- and with it the demand for oil is picking up -- leading energy traders to buy ever-more expensive contracts for oil and gasoline delivered in the future, betting prices will be even higher than what they are paying for the contracts. Oil companies then peg the wholesale price of gasoline on those bulk oil and gasoline prices, driving up what dealers pay and ultimately what drivers encounter at the corner filling station. The EIA said it expects global demand for oil to steadily increase over the next two years, surpassing the record levels of 2007 before the world-wide recession began. Crude prices jumped $1.86 Tuesday to $91.11 per barrel for the best quality oil. In Europe, oil prices moved up to $97.61. The EIA expects the price of the best U.S. oil to average $93 per barrel this year and $99 by the fourth quarter of 2012.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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It's to the point one has to consider spending the extra money and go hybrid with the next vehicle purchase.
If everybody had like minds, we would never learn. GM Strong ![[Linked Image]](http://www.dawgtalkers.net/uploads/small-gator-chomp.gif)
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Ever checked to see the REAL price before the taxes? Or the amount of the taxes and to whom they go? Like an undeclared tax. In Connecticutt, they had the prices AND taxes on posts in a Mystic gas station pump. Incredible percentage is NOT fuel . . . . 
"Every responsibility implies opportunity, and every opportunity implies responsibility." Otis Allen Glazebrook, 1880
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jc...the oil industry has a monopoly on the world when it comes to pricing their product. As long as the many different oil companies act as one, they can move the market up when they please.
Time to face reality folks, Big Oil has no competition from within the industry if all the oil companies stick together which they do.
The only possible competition facing Big Oil in the future might be the electric car but that is a few years away.
It is kind of rich to hear RWers complain about gas prices when the oil industry in the USA is operating as a "free market" industry. I thought RWers believed in a free market system..maybe not?
How many want Obama to do something about gas prices now that they are above $3.00?
How many wanted Bush to do something about gas prices when they were above $3.00?...and when they were above $4.00?
Bush did nothing...
We don't know if Obama can do anything to put pressure on Big Oil to keep gas prices low but so far, he has done what Bush did...nothing.
What can our government do?
If the problem is the supply of oil, the government can open up the strategic oil supply to make sure refineries have a continuous supply of crude.
But when it comes to refinning the crude into gas, diesel and oil products, Big Oil has a lock on refineries in the USA. The oil industry decides when to put refineries down for any reason they choose.
Big Oil decides how much crude they refine and they are capable of controlling the supply to insure they can ask any price per gallon they choose.
Anyone think the GOP controlled House of Reps will do anything about gas prices?
FOOTBALL IS NOT BASEBALL
Home of the Free, Because of the Brave...
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But when it comes to refinning the crude into gas, diesel and oil products, Big Oil has a lock on refineries in the USA. The oil industry decides when to put refineries down for any reason they choose.
That's a load of BS. Google "U.S. oppostion to oil refineries". Even NPR and the NYT won't stretch the truth as far as you do.
And into the forest I go, to lose my mind and find my soul.
- John Muir
#GMSTRONG
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$4 gas is nothing ridiculous. More and more oil has to be imported to the US thus the price of end product increases to offset the increased transportation cost.
At $4, you still have cheaper gas than us,
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But when it comes to refinning the crude into gas, diesel and oil products, Big Oil has a lock on refineries in the USA. The oil industry decides when to put refineries down for any reason they choose.
That's a load of BS. Google "U.S. oppostion to oil refineries". Even NPR and the NYT won't stretch the truth as far as you do.
It's amazing, isn't it?
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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Just clicking
I was watching the news this morning. I guess there is some sort of problem with the alaska pipeline, Some kinda leak or something. Didn't hear the whole thing. the reporter said that because of this problem with that line, Oil could spike to over $100 a barrel..
He said that that pipeline provides only 15% of our total supply of Oil.
#GMSTRONG
“Everyone is entitled to his own opinion, but not to his own facts.”
Daniel Patrick Moynahan
"Alternative facts hurt us all. Think before you blindly believe."
Damanshot
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It's to the point one has to consider spending the extra money and go hybrid with the next vehicle purchase.
Dunno if you're interested, but if that time comes there are a number of models from various automakers that achieve 35+ mpg (into the 40's, I believe) without hybrid tech. I only mention that because the tech comes at a premium. Then again with so many automakers embracing fuel efficiency I would think that premium price tag might diminish via mass production.
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i get 4$ gas and a 66% spike in state income tax YAY!!
hence the reason why i don't vote. politicians ARE ALL THE SAME. FREAKING SCUMBAGS.
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Awesome. I hope it keeps going up. pretty soon everyone will have to have a car that gets 50 mpg, which they should already.
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We won't have to wait till the summer. Prices down here are already closing in on $3.50 a gal. And it is already $4 a gallon for non-ethanol fuel.  It's getting tougher and tougher, and I drive a (mostly) fuel efficient Neon.
KeysDawg
The fact that some geniuses were laughed at does not imply that all who are laughed at are geniuses. - Carl Sagan
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Quote:
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It's to the point one has to consider spending the extra money and go hybrid with the next vehicle purchase.
Dunno if you're interested, but if that time comes there are a number of models from various automakers that achieve 35+ mpg (into the 40's, I believe) without hybrid tech. I only mention that because the tech comes at a premium. Then again with so many automakers embracing fuel efficiency I would think that premium price tag might diminish via mass production.
I agree. We rented a Corolla (Hotwire's version of a full size car ) on our vacation. We averaged over 30mpg where much of the time we were driving up and down mountains, a lot of stop and go looking for wildlife, bear and bison jams, etc. I may have to look at something like that....hopefully American made. My Dodge Ram gets 12.5mpg....it's my go to work truck and not much else.
And into the forest I go, to lose my mind and find my soul.
- John Muir
#GMSTRONG
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Quote:
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It's to the point one has to consider spending the extra money and go hybrid with the next vehicle purchase.
Dunno if you're interested, but if that time comes there are a number of models from various automakers that achieve 35+ mpg (into the 40's, I believe) without hybrid tech. I only mention that because the tech comes at a premium. Then again with so many automakers embracing fuel efficiency I would think that premium price tag might diminish via mass production.
I understand that, but many of those models are pretty darn "dinky"...
I am at the stage of life where I would have been the guy driving the massive Caddy convertible with red leather seats.
Now....I am good with a car big enough to fit 4.....the back seats large enough to accommodate humans over the age of 12.
If everybody had like minds, we would never learn. GM Strong
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Yeah I thought that I as I was typing it. I drove a Civic hatchback for some years since travel to my job and back is about 400 miles a week and was I glad to get some leg room with my next car. 
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Awesome. I hope it keeps going up. pretty soon everyone will have to have a car that gets 50 mpg, which they should already.
Great, so my mom, who I bought a car for, should have to replace that car and buy a far more expensive replacement? I'm sure that maybe she can work 40 hours/week at age 70 to do so, because I certainly cannot afford to replace 2 such cars at this time. There would almost certainly be no trade on value on her old car, as no one will want a car that gets so so gas mileage.
Maybe small families, just starting out, can decide to buy a new car that gets good gas mileage instead of a home. Yea.
People talk about a tax on the lower and middle class? That would be an incredibly oppressive burden on such people ... as well as a huge burden on the economy, as people would have far less money to spend on everything else.
I really don't care, because I drive about 20 miles per week now. Raise it to $10/gallon and it won't hurt me all that much. My old store was about 2 miles from my house, so even getting back to work won't hurt that that much.
To many people though, that would be just one more economic depressent, that would cost jobs, and homes, and ultimately, the taxpayers a whole lot more.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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Peen, I bought a car last fall, got rid of an Expedition and got a Chevy Malibu hybrid. I like it. I got it one year old... turns out that the premium you pay for a hybrid, most of it goes away when its a year old. So if you are going to get a hybrid, look for a very low mileage used one and you will save a lot of the hybrid premium..
yebat' Putin
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Awesome. I hope it keeps going up. pretty soon everyone will have to have a car that gets 50 mpg, which they should already.
You are right, we should all drive those overpriced shoe boxes.
I'm not a bleeding heart but high gas prices really hurt the working poor, the ones who don't want to sponge off the government.
We're trying to throw the ball downfield and he checked the ball down to Trent Richardson and the Indians on the choice.
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Awesome. I hope it keeps going up. pretty soon everyone will have to have a car that gets 50 mpg, which they should already.
I'm all for it also. But with that comes the home heating costs - I hope they triple. That way, people won't keep their homes at 72 degrees in the winter. And I hope cooling cost quadruple - that way people won't keep their homes at 72 in the summer.
I hope insurance costs triple - that way people won't use insurance for a cold.
I hope electricity goes up 5 fold - that way people won't leave lights on.....or cities, or towns.
I hope food prices go up 10 fold - that way people won't eat as much.
I also hope you, in your job, see a 10% profit. Which means after you pay for your way to work, your way home..............you get 10% over your cost for working. That's what the oil companies get - it should be good enough for you.
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I was watching the news this morning. I guess there is some sort of problem with the alaska pipeline, Some kinda leak or something. Didn't hear the whole thing. the reporter said that because of this problem with that line, Oil could spike to over $100 a barrel..
The problem is not really big oil companies, it's big oil speculators and OPEC... as I understand it the pipeline leak was minor and fixable in about a day and a half.. so you have a small percentage of the worlds oil supply disruped by a a wee little bit... and oil prices go up? It's an excuse. Just like oil prices spike pre-hurricane, post-hurricane, etc.... I understand that global oil demand is rising, especially in China and India, so I would completely understand if oil prices crept up over time to meet this demand absent any increase in supply... but that's not what we have, we have spikes for no apparent reason, then it goes back down, but it never goes all the way back down. We have these spikes, is that because we haven't figured out when demand will be highest? Winter happens at the same time every year, vacation cycles happen at the same time every year... I have trouble believing that the world is changing that fast. I think we are being desensitized so they spike, then come back down a bit, then they spike, etc....
yebat' Putin
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Awesome. I hope it keeps going up. pretty soon everyone will have to have a car that gets 50 mpg, which they should already.
Tell me what car gets over 50 mpg and can carry 6 people?
#gmstrong
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Mac, I think the whole point of posting this is that you and others of your ilk constantly blamed Bush and Cheney for high oil prices. Now that Obama is in office it makes it kind of hard to blame Bush, doesn't it.
#gmstrong
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Awesome. I hope it keeps going up. pretty soon everyone will have to have a car that gets 50 mpg, which they should already.
That is a great idea, especially when all those truckers who deliver every good you buy have higher fuel costs and the price of EVERYTHING goes up. Hope your boss doesn't see the increased costs of goods as a reason he can't give YOU a raise to help offset the higher cost of living. 
We don't have to agree with each other, to respect each others opinion.
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One of my ways to combat this was to be preemptive and buy stock in Transocean LTD. After the beat down laid on them and BP due to the Gulf oil spill, there was easy money to be had. If you can't beat them, join them.
"My signature line goes here."
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Awesome. I hope it keeps going up. pretty soon everyone will have to have a car that gets 50 mpg, which they should already.
Tell me what car gets over 50 mpg and can carry 6 people?
a subway car.
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ROTFLMAO if it wasn't for OBama it would be 10 bucks per gallon 
I AM ALWAYS RIGHT... except when I am wrong.
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Mac, I think the whole point of posting this is that you and others of your ilk constantly blamed Bush and Cheney for high oil prices. Now that Obama is in office it makes it kind of hard to blame Bush, doesn't it.
This is the first its been above $3... the Bush years it stayed above $3
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Mac, I think the whole point of posting this is that you and others of your ilk constantly blamed Bush and Cheney for high oil prices. Now that Obama is in office it makes it kind of hard to blame Bush, doesn't it.
This is the first its been above $3... the Bush years it stayed above $3
 It did?
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Actually 2007 was the first time it ever topped $3 http://gasbuddy.com/gb_retail_price_chart.aspx
We don't have to agree with each other, to respect each others opinion.
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Stop letting facts get in the way! 
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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The start of Bush's 5th year in office had roughly the same price as his last days. Too bad it spiked so high in between.
#gmstrong
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Gas has only gone up about $1.50 since Obama has been president.
#gmstrong
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No .... gas has come down from the highest levels it was at under Bush. Remember 7-7-08 ... when gas hit $4.08? So what if it dropped to $1.59 by the end of his term ..... it is still all his fault dammit! Prices today are all Bush's fault. Really! Trust me, "We're from the government, and we're here to help you ........." 
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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Big oil can do what they want...if they want to levy a "tax" on the American people to increase their profits...they are free to do so.
Don't like the free market?
I didn't like it when Bush and Cheney, who were "Oil Men", with links to oil industry, did nothing about the squeeze big oil put on the American people. I do believe one of the first actions of the Bush administration was to have meeting with the Big Oil companies, in the White House.
As I said in my earlier post, so far, Obama has done nothing, and he has "no connections" to the oil industry, so I'm not banking on him being able to do anything.
Big Oil can bring this country's economy to it's knees if they want, because they have a complete monopoly over the production and to an unknown degree, futures markets.
While doing some reading on this subject, I came across a bit of information that said "speculation" is responsible for approx. 25% of the cost of a gallon of gas.
Who is controlling the futures markets?
Who controls Big Oil?....Big Oil !
Big Oil is a threat to the American economy...if they want to keep the economy tanked...they have the power to do so.
If you don't like the "free market" system Big Oil operates under here in the USA, what you gonna do about it?
FOOTBALL IS NOT BASEBALL
Home of the Free, Because of the Brave...
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I didn't like it when Bush and Cheney, who were "Oil Men", with links to oil industry, did nothing about the squeeze big oil put on the American people. I do believe one of the first actions of the Bush administration was to have meeting with the Big Oil companies, in the White House.
As I said in my earlier post, so far, Obama has done nothing, and he has "no connections" to the oil industry, so I'm not banking on him being able to do anything.
So you think because Bush and Cheney know some people in the oil industry that that they can manipulate the price of oil by calling on some friends.. but because Obama doesn't know anybody in oil, he gets a pass for not being able to make a phone call and control the market... Do you really believe this stuff?
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I do believe one of the first actions of the Bush administration was to have meeting with the Big Oil companies, in the White House.
They did meet with them as they were developing an energy plan.. who should they meet with to develop an energy plan, Cal Berkley students? Here's a story for you.... web page
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While doing some reading on this subject, I came across a bit of information that said "speculation" is responsible for approx. 25% of the cost of a gallon of gas.
Let me explain some basic economics to you.... oil exploration has a cost, oil recovery has a cost, oil refining has a cost, oil transporting has a cost, oil distribution and selling to consumers has a cost, there are hefty taxes on oil.... then above that, you have speculation. So if speculation accounts for 25% of the price of gallon of gas, that is $.75 on a $3 gallon of gas... so without speculation, a $3 gallon of gas is $2.25.... You have a problem with a $2.25 gallon of gas?
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Who is controlling the futures markets?
Big money investors, oil companies, but most of all, OPEC.
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Who controls Big Oil?....Big Oil !
George Bush.. No seriously, OPEC.
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Big Oil is a threat to the American economy...if they want to keep the economy tanked...they have the power to do so.
Can you please explain to me why it is in their best interest to keep the economy tanked? When the economy is good more people travel, more trucks move product, people bump their heat up a degree or two.... in short they stand to make a lot more money when the economy is good........ so what is their motive for keeping it tanked?
yebat' Putin
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So you think because Bush and Cheney know some people in the oil industry that that they can manipulate the price of oil by calling on some friends.. but because Obama doesn't know anybody in oil, he gets a pass for not being able to make a phone call and control the market... Do you really believe this stuff?
Well, coming from someone who said that oil companies are intentionally choosing not to build refineries (like they could build them anywhere and whenever they want to), I'm not surprised. It is really sad that people believe this crap.....the same people who accuse conservatives of instilling an atmosphere of hate. 
I do think that oil companies take advantage of bad news to quickly raise prices at times, evidenced by the fact that it takes much longer for prices to come down when things turn around.
And into the forest I go, to lose my mind and find my soul.
- John Muir
#GMSTRONG
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I do think that oil companies take advantage of bad news to quickly raise prices at times, evidenced by the fact that it takes much longer for prices to come down when things turn around.
They do and it's a cross between oil companies and speculators... take this latest pipeline leak that they used as an example.. you have a pipeline that provides less than 10% of supply, it gets a relatively small leak that is fixed in under 2 days... this is hardly evidence to me that a spike in prices is necessary...
I'm not particularly excited about something as important as oil having its price go up and down based on the whims/fears/emotions of some speculators... I'm less excited about having the government involved in setting the price. I don't really have an answer as to how to "fix" it, I just know that it needs to stay out of government control....
yebat' Putin
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Joined: Sep 2006
Posts: 19,133 |
Well if there are government controls involved, we won't have to worry about fluctuations in oil prices....they will be consistently high. 
And into the forest I go, to lose my mind and find my soul.
- John Muir
#GMSTRONG
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Joined: Sep 2006
Posts: 50,418
Legend
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OP
Legend
Joined: Sep 2006
Posts: 50,418 |
LOL It's ALL Bush's fault! All of it!
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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Joined: Dec 2006
Posts: 13,810
Legend
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Legend
Joined: Dec 2006
Posts: 13,810 |
Quote:
LOL
It's ALL Bush's fault! All of it!
Still #39...
FOOTBALL IS NOT BASEBALL
Home of the Free, Because of the Brave...
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DawgTalkers.net
Forums DawgTalk Tailgate Forum $4 Gas, All Bush's Fault!
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