$5 Gas in 2012?

[mrsleeve]

^

Look at dubs. Richer thread. Average people seem to always thing the evil rich man or company is out to screw little ol them all the time.


Again with another re-route, or is the same one they submitted to FERC back in march I think?? Go ahead keep adding to the cost and delays, trascanada is libale to just fuck the whole thing cut their losses and build over the rockies to BC and ship it abroad, that is in the works as well

[rwh11385]

Yep. Too bad such rational look at the situation isn't done by more of the public.


TransCanada submitted revised route for XL yesterday: http://www.reuters.com/article/2012/...88412A20120905

edit, in response to sleeve below: "TransCanada Corp (TRP.TO) said on Wednesday it has submitted a new route for the project to build the Keystone XL oil sands pipeline from Canada to Texas that will avoid sensitive ecological areas in Nebraska."

http://www.washingtonpost.com/business/transcanada-revises-new-neb-route-for-oil-pipeline-that-company-says-avoids-sensitive-areas/2012/09/05/ab5ec2b8-f772-11e1-a93b-7185e3f88849_story.html

The latest proposed Keystone XL pipeline route is TransCanada’s second attempt to satisfy state environmental regulators. The Nebraska Department of Environmental Quality said in July that the initial revised route crossed land that could erode easily and passed near unconfined aquifers that supply drinking water to residents and livestock.

The new TransCanada proposal tweaks that April plan, making the route veer east shortly after entering the state to avoid more of the sensitive areas in Keya Paha County, east again around the town of Clarks and west around the town of Western to avoid drinking water well fields.

My email newsletter had tidbits from multiple sources and the Reuters didn't mention the revision as clearly as WP

[CorvallisBMW]

Refinery fire in CA + refinery fire in Venezuela + offshore rigs shutdown for Hurricane + increased demand by travelers on Labor Day weekend = higher prices.

It's Sorcery I tell you!!

[nando]

Yeah, oil companies don't just raise prices when they feel like it, and have no direct control to begin with (futures and commodities markets, wut?). Oil was also thought to be inelastic, which was proven totally wrong the last 4 years when demand shrank dramatically causing prices to collapse and begin a long term decline in nations like the usa.

[rwh11385]

come on man, its Bush and Chaney that controls the market though Haliburton. Everyone knows this already

lol. Yeah - instead of understanding markets, some people always just place blame on figureheads who don't really have control. The Huff Post followers attacked Bush and now the Drudge crowd blames Obama.

It's a whole lot more logical and intelligent to look at supply/demand, instead of politics.

[Vedubin01]

^

Does not really understand how and where big oil makes its money and what is truelly effecting enegy priceing. Reread this thread and posts from myself and heeter and you will gain this knowledge

come on man, its Bush and Chaney that controls the market though Haliburton. Everyone knows this already

[mrsleeve]

^

Does not really understand how and where big oil makes its money and what is truelly effecting enegy priceing. Reread this thread and posts from myself and heeter and you will gain this knowledge

[redsubdivisions]

Let's make it simple:

Oil companies raise prices. Despite bitching and "protesting", we pay the prices anyways and they make a nice profit. Does it make sense for them to bring it under $3/gal again? Hell no. Capitalism flourishes in America and oil companies make a nice profit. Why would they scrap a money making plan? It sucks, but we should have learned our lesson from the crisis of the 70's. It will only go up from here, ladies and gents.

[rwh11385]

Quoted for when the price goes back down as it did at the beginning of 2009.

How's that going for you?

http://www.foxnews.com/us/2012/09/03/us-gas-prices-at-highest-ever-for-labor-day-weekend/

U.S. gas prices at highest ever for Labor Day weekend

The national average for a gallon of regular gasoline hit $3.80 on Monday, up 14 cents from the same time last year, the highest price ever recorded during a Labor Day weekend, GasBuddy.com reports.

On Friday, the average price of gas was $3.83 per gallon, according to AAA. Monday’s price of $3.80 beat the Labor Day record of $3.68 set in 2008, the association reported.

http://www.dailypress.com/news/breaking/dp-aaa-august-gas,0,3870215.story

AAA: August gas price increase highest in seven years

August was marked by significant spikes in gas prices. In fact, according to the AAA, the national average jump of 30.8 cents is the second highest since 2000 when the auto club began keeping records.

Still, gas is not at $5. Given the several supply issues currently and the fact that after labor day gas prices usually subside slightly, this might be the peak for the year. Although I don't expect gas to go much lower than $3.50-ish personally. (obviously extreme shocks on either side could change that in either direction, but joshh's hopes for gas under $2 again is a bit outlandish)

[nando]

it seems to depend on which biased source you look at.

[gwb72tii]

from what i understand the increase in oil/gas production since obama took office is mostly from contracts signed before he was elected.
i guess you can give him credit for not shutting it all down LOL

[nando]

I don't blame you. I hate typing on my phone.

must have been designed by the Obamanazi himself. :p

[mrsleeve]

I will respond a little more in depth when I get nando when I am not on my phone

[nando]

so GWB isn't responsible for the recession that started during his second term but he's responsible for the production increase after his presidency?

pick and choose, dude.

[gwb72tii]

he hasn't approved more permits i believe, the admin argues that production has increased more under obama.

thanks to GWB