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Gasoline prices zip toward $3 mark

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Jan 11, 3:21 PM (ET)
By MARK WILLIAMS

Gasoline prices on Monday continued their push toward $3 per gallon. The only question now is when?
Prices have been jumping on the back of a strong oil market where the cost for a barrel has spiked 20 percent in the past month on the New York Mercantile Exchange.
Skyrocketing gasoline prices couldn't come at a worse time for motorists, who will see heating bills jump after the worst cold spell in years.
Oil prices are now about three times what they were a year ago.
"There is a long history of tripled oil prices causing consternation among consumers," Peter Beutel of Cameron Hanover said in a report Monday. "We are not there, yet, but gasoline prices at more than $3.00 is certainly an unwelcome sign of consumer distress."
Prices rose 1.4 cents overnight to $2.749 per gallon, according to auto club AAA, Wright Express and Oil Price Information Service. Prices have climbed 8.4 cents a gallon in the past week and are 95.5 cents higher than a year ago.
Prices almost always tick up toward the spring as more people begin to drive and refiners switch over to cleaner burning fuels as required by law.
Okay Obama, get busy fixing this.
 
Aren't you conservatives supposed to be in favor of a free market?
Aren't you liberal not? But I say drill baby drill.
 
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Drill baby drill. But how do we get them to drill more when that would drive prices down lowering their profits? The government should force the oil companies to drill more to keep prices artificially low.
 
Aren't you liberal not? But I say drill baby drill.


:roll::roll::roll::roll::roll:



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I am Glad, that I have a car that get at least 32 miles to the gallon. Gas prices, go up and down all the time. It has done the same thing during bush's term as well. They always rank up the prices during a ression, because less people are driving, so they have to get money somehow.
 
Why do we need to drill?

Because the whole world needs oil to do almost anything...

World Without Oil
by Lise Maring

"When most of us think about oil, we tend to think about heating oil for the furnace and about the gasoline and diesel fuel that keeps our cars and trucks on the road. What most of us don't realize, however, is that oil does more than just fuel our vehicles and keep us warm in winter. It has become the foundation upon which our entire modern civilization has been built. Recently, that foundation has begun to develop some cracks and has become a little shakier than it used to be, as cheap oil and natural gas become harder to find and acquire. Even if we were to develop a new source of energy and a more fuel-efficient car today, without oil, modern civilization as we have come to know it is still in deep trouble.

To start with the basics, armies aren't the only organizations that run on their stomachs. So do civilizations. Agribusiness is totally dependent upon large machines and artificial fertilizers and pesticides in order to raise, harvest, and transport the vast quantities of grain, fruit, and vegetables we enjoy today. Fertilizers and pesticides require oil and natural gas, not only in their distribution, but in their manufacture as well. Also, feed for beef cattle, chickens, and turkeys depends very heavily on these same fertilizers and pesticides. When cheap sources of oil and gas are not readily available, the chemical industry passes the increased costs on to agriculture. The increasing prices for fertilizers and pesticides then results in increased food prices for the rest of us..."
Continued: World without Oil
 
Drill baby drill. But how do we get them to drill more when that would drive prices down lowering their profits? The government should force the oil companies to drill more to keep prices artificially low.

They can't just drill they also have to build refineries to refine the increased oil.
 
Link


Okay Obama, get busy fixing this.

WTF do you expect him to do?

"Drill, baby, drill" is a long-term solution at best. Obama could open up the entire country to drilling tomorrow and it would be years before the first drop turned into gasoline.

Gas prices are not related to nor are they the responsibility of the president.
 
:confused:
What do you expect him to do? Price controls? Jimmy Carter already tried that; the results were not impressive.

What did the liberals expect Bush to do when it happened to him? The liberals were screaming then, now the silence is deafening.
 
What did the liberals expect Bush to do when it happened to him? The liberals were screaming then, now the silence is deafening.

:doh

No, we weren't! I don't blame the presidents, because of the rise in oil prices. I'd put the blame were it lays with.
 
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Aren't you liberal not? But I say drill baby drill.

Drill away baby. But you better start using solar and wind power as well, because we haven't produced enough oil to meet our needs for decades.
 
Yea drill all you want.. it wont impact prices for years if at all.
 
What did the liberals expect Bush to do when it happened to him? The liberals were screaming then, now the silence is deafening.

Regardless of what you think "the liberals" (whoever that is) expected Bush to do, the fact is that presidents can't control the price of gasoline...and any attempt to do so will create shortages and end in disaster, as it did when Carter was president.
 
Regardless of what you think "the liberals" (whoever that is) expected Bush to do, the fact is that presidents can't control the price of gasoline...and any attempt to do so will create shortages and end in disaster, as it did when Carter was president.

While it's true they can't control the price, they can nonetheless create enough uncertainty in the market to worry investors, who inevitably pull their money out of the stocks and sink it into stable commodities like gold, silver, platinum, yes--oil. The recent demand for these commodities has been driving the price up and I would expect this to continue.

If inflation kicks in hard in the next couple of years, I wouldn't be surprised to see the current administration implementing price controls on necessities.
 
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While it's true they can't control the price, they can nonetheless create enough uncertainty in the market to worry investors, who inevitably pull their money out of the stocks and sink it into stable commodities like gold, silver, platinum, yes--oil. The recent demand for these commodities has been driving the price up and I would expect this to continue.

There is always uncertainty in the stock market. Most of the time, the president's actions have relatively little impact on the daily or monthly fluctuations in the stock market. The last couple years might be the exception, when only government was able to bail out some companies...but in general, the president has very little ability to create much uncertainty in the stock market.

And did I misunderstand you, or did you describe oil as a "stable commodity"? :confused:

pendulum_jaw said:
If inflation kicks in hard in the next couple of years, I wouldn't be surprised to see the current administration implementing price controls on necessities.

I would. Almost no economist in the world would advise them to do that.
 
but in general, the president has very little ability to create much uncertainty in the stock market.

What a ridiculous statement--you won't find an economist on the planet who agrees with you.

And did I misunderstand you, or did you describe oil as a "stable commodity"? :confused:

Investors buy up oil stocks in uncertain economic conditions.

I would. Almost no economist in the world would advise them to do that.

There's ample evidence on the record that the current administration understands little about economics. Plus when politicians implement price controls, it's not for economic reasons, it's to score political points.
 
What a ridiculous statement--you won't find an economist on the planet who agrees with you.

I think most economists would agree that politicians don't have much control over the stock market...at least in capitalist nations like ours. China is a different story.

pendulum_jaw said:
Investors buy up oil stocks in uncertain economic conditions.

Oil stocks are not the same as oil. Exxon can be overpriced while oil is underpriced, or vice versa.

pendulum_jaw said:
There's ample evidence on the record that the current administration understands little about economics.

:roll:

pendulum_jaw said:
Plus when politicians implement price controls, it's not for economic reasons, it's to score political points.

Price controls would not even be politically popular, as they would create shortages that would hurt consumers. Gasoline shortages were arguably one of the reasons Jimmy Carter lost his reelection bid.
 
I love when gas prices go up and those driving gas guzzlers are paying out the nose for gas. Serves you right for getting a car that has sucky gas mileage.
 
Ahh I love this dance.

Bush is in power
Liberals: GRRR, Its Bush's Fault! FIX IT!
Conservatives: Its just the market, we need to drill

Obama is in power
Conservatives: GRRRR, its Obama's Fault! Fix it!
Liberals: The president isn't responsible for the price and can't fix it, don't you all trust the market

You all should go onto "So you think you can dance", this hypocritical back and forth is highly entertaining though unfortunantly extremely sad.
 
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