$5 Gas in 2012?

[joshh]

I never said any of that. The price of oil follows the world economy and macro events, not the US economy alone. I listed a large number of major events that happened in the last year that have caused oil prices to rise in spite of a weak economy.

Bush was was a huge part of the credit bubble and the Federal Government's deteriorating finances. All those wars cost a lot of money. The bubble burst, the government was already stretched, and the economy collapsed with the Fed's hands tied behind it's back.

Oil prices pretty much followed the world economy exactly, it just happened that Obama got elected right in the middle of it - it would have made little difference if Mcain had won in 2008. Same macro events would have happened. Obama can't increase the price of oil any more than bush could have at the end of the bubble cycle.

rif.org

Seriously.

LOL.jpg

But a President can crash an economy. Follow along kiddo.

[ClausE30]

Yea Bellingham prices suck! I always make sure to fill up south before I trek up there or of course fill up in Bellingham before crossing the border.

[Thizzelle]

Watch, i bet when it gets close to election time the gas price will start to drop!

[herbivor]

Watch, i bet when it gets close to election time the gas price will start to drop!

I wouldn't be surprised. It happened in 2004. I think it's the Saudi's way of deciding who they want to be president. Usually works too.

[rwh11385]

Stick with the semantics kid, it's all you got.

Errrr, or is it properly communicating my meaning along with an understanding of economics?

http://247wallst.com/2012/07/31/july...es-up-5-1-aaa/

July Gasoline Prices up 5.1% — AAA
Posted: July 31, 2012 at 11:11 am

July gasoline prices rose the most in a dozen years according to the AAA Monthly Gas Price Report. The $0.17/gallon increase (5.1%) is the largest increase for the month of July at least since the AAA began keeping records in 2000. The AAA spokesman noted:

Higher global oil prices and increased demand for gasoline during the busy summer driving season were the primary factors that sent pump prices higher in July.


AAA expects gasoline prices to remain relatively flat or “experience a small increase” in August.

Watch, i bet when it gets close to election time the gas price will start to drop!

Maybe, but it wouldn't be the President's influence - rather general seasonal trends.

Gasoline prices are expected to fall after the Labor Day holiday as the summer driving season draws to a close.

[M-technik-3]

We are back to $4.04 for premium and 3.67 for 87 octane. Funny left on a trip and fuel was at 3.47 get back to a twenty cents hike Ouch.

Need to start trading in commidities, seems there are no real rules regarding it or better yet they are not enforced to any level of degree.

It's funny I don't see the countries I travel thru a lot have such crazy spikes.

[mrsleeve]

heeters post has it fairly close

We have a chunk of refinement capacity down right now.

[slaterd]

They're expecting under $3.00 this winter. Here in Phoenix I'm getting some at $3.05 during the middle of the summer so that looks about accurate.

[Vedubin01]

paying 3.99 for 87 octane here on the beach.

[TurboJake]

Just paid $4.47 here in wisco.

Damn down pipelines.

[mrsleeve]

We could build a big one form Alberta to our heavy product refiners on the gulf coast........................


Oh Wait never mind

[herbivor]

We could build a big one form Alberta to our heavy product refiners on the gulf coast........................


Oh Wait never mind

Do you think it's worth the environmental risk?

[Vedubin01]

do you think it's worth the environmental risk?

yes

[mrsleeve]

Do you think it's worth the environmental risk?

:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:


Your fucking clueless about this. Are you sure you want to tangle with me on this topic???

There is much much greater risk of leaving the old shit in the ground in service that new lines will take the place of and add capacity. If it was not for your hero in the oval office it would be mostly in ground by now and flowing 680k + barrels a day. If your implying that the tar sands are the issue not the pipe line. Well your not going to stop it from being shipped, as Enbridge and Enterprise are going increase capacity, reverse flow and loop some currently existing line, and build a few hundred miles of new line to get it from alberta to huston. Your hero cant do shit about it as the cross boarder crossing is in place and flowing now. The rest is just subject to FERC and Local regulatory approval , and since most of it is already in the ground approvals are just a formality, last I heard a late 2013 in-service date is expected.

[nando]

I think we need new pipelines, but enbridge has a horrible safety record. There is good reason to be concerned.