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High Gasoline Prices returning... - THE NC Herd Fan - 06-12-2009 05:06 PM
Just filled up and to my surprise Regular Gasoline is now just under $2.60/gallon at $2.59. The economy is unraveling faster than President Hussein had hoped. Mortgage Interest rates have risen in just two weeks from 4.9% for 30Yr Fixed to 5.6%. The gubment (US Mint) has suspended sale of Gold and Silver coins due to unprecedented high demand. None of these developments suggest a resilient recovery rather an anemic one that will likely end after a couple of quarters of positive GDP growth. Mid-terms may not be kind to the Democrats in 2010 if the Republicans play this right.
RE: High Gasoline Prices returning... - DrTorch - 06-12-2009 06:29 PM
I paid $2.85 in Columbus last week. I was shocked. Probablynot the cheapest station in town, but I'd been there before, and it wasn't the worst.
Here in MD we're keeping under $2.50, I actually think it dropped a few cents recently.
All in all, not a bad historical price. I've read that OPEC is trying very hard to keep production limited, and while reserves are full, they hope to start reducing those w/ summer demand. Credit the US, as I read May consumption was only .4% above last year, despite much lower prices.
Reduced consumer debt and reduced consumption are big pieces to getting a healthier economy. US citizens do seem to be doing some of their part. But, it's a long way to go, and this storm may just be getting started.
RE: High Gasoline Prices returning... - WoodlandsOwl - 06-13-2009 08:38 AM
The price is rising because of
1. Devaluation of the dollar.
2. Speculation and Manipulation.
Notice that last year crude futures dropped significantly once Bush threatened to turn the Commodities Futures Trading Commission loose on some of these crude traders that were manipulating the markets.
Obamagog just has to threaten to launch another investigation and crude prices will drop once again. The crude traders will be afraid that Obama will do to them what he did to the credit card industry.
RE: High Gasoline Prices returning... - RobertN - 06-13-2009 09:14 AM
(06-13-2009 08:38 AM)WMD Owl Wrote: The price is rising because ofI was going to say "greed" but I think you covered that in number 2.
1. Devaluation of the dollar.
2. Speculation and Manipulation.
Notice that last year crude futures dropped significantly once Bush threatened to turn the Commodities Futures Trading Commission loose on some of these crude traders that were manipulating the markets.
Obamagog just has to threaten to launch another investigation and crude prices will drop once again. The crude traders will be afraid that Obama will do to them what he did to the credit card industry.
RE: High Gasoline Prices returning... - Tripster - 06-13-2009 11:30 AM
.
Free Markets are supposed to be based on "Supply & Demand" right ???
Well the "Demand" for gasoline is way down so there is no threat of a global shortage. I mean this is common knowledge around the world.
So since OPEC and the Speculators can't get their blood money from Consumer High Demand for their Product, they Hyper-Inflate the Prices to drive them up for no reason other than to screw the pants off people.
And yes, it is nothing but pure greed that is pushing this mess.
So for me, if Demand was really low when prices were down - - what do these Idiots think is going to happen when they push prices thru the roof just to play the profit game .... demand is going to drop even lower and it will back fire on them.
I have seen it happen in the early 70's, the late 70's when Carter lost what little mind he had left and bulldozed us into bankruptcy, it sorta happened in the 80's and if it is happening now, it means consumers have adjusted their lifestyles accordingly and are not driving as much.
So they Greed Mongers can Hyper-Inflate Fuel Prices all they want, it won't make any difference in profits and may even bring them down.
Gotta love these guys boy !!!!!
.
RE: High Gasoline Prices returning... - NIU007 - 06-14-2009 11:43 AM
It's summertime, more demand, higher prices. Like last year, and most years, it will drop when the summer driving season is over.
RE: High Gasoline Prices returning... - WoodlandsOwl - 06-15-2009 07:46 AM
(06-14-2009 11:43 AM)NIU007 Wrote: It's summertime, more demand, higher prices. Like last year, and most years, it will drop when the summer driving season is over.
Apparently you haven't seen the American Petroleum Institute figures. We have so much crude oil sitting in storage (purchased back when the price was $42.00 a bbl) that we are running out of places to store it.
Some gas prices may be a factor of lack of refining capacity, and the tree huggers always file lawsuits and objections when anyone tries to expand a refinery.