Gas prices

[Freak Out]

The oil bubble will burst...the question is when. The price of oil remains high because people are buying the shit out of commodities of all kinds driving the damn price up. The dollar is fucked and the world knows it.

Would you say there is a oil bubble like there was a real estate bubble, and tech stock bubble in the 90's? Is everyone and their mother trying to make money off of oil right now?

No...its not like day traders with etrade accounts are out buying up oil futures but the huge fund managers and wealth fund managers are. Sovereign wealth is being taken from one place like dollars or euros and being put into oil and gold for the time being.

[texaspackerbacker]

Tyrone, your case and your brother's are exceptional. Most people don't drive near that much. I have to assume you both are making pretty good money doing all that driving--or else you wouldn't be doing it.

As for the whole oil price "bubble" or whatever it is, the expression, "this too shall pass" comes to mind. They say, there is plenty of crude oil available, just not enough refinery capacity. I would say, thank the liberals for that. However, it's more complicated than that. The oil companies don't want to rock the boat. The higher prices are at worst, not hurting them, possibly helping, although supposedly their profit margin is a fixed figure per gallon.

It is definitely valid to blame the weaker dollar in part for higher oil too. As I have said several times, though, the whole weaker dollar scenario is contrived by the Treasury and the Fed. Conspiracy theorists of the left and otherwise can both seriously fault that policy of allowing the dollar to drop and demagogue it for pure politics. As for myself, call me naive, but I really believe the best economic minds in this country both have American interests at heart and know what they are doing.

[Partial]

Tyrone, this is what I said:

texaspackerbacker wrote:
So you're saying that rising gas prices cost a couple more than $1,200 in a year?

If you assume a 50 cent increase, that's 2,400 gallons in a year. At 25 mpg, that's 60,000 miles driven. What couple drives that much? Even if you go all the way to a dollar a gallon increase, that's 30,000 miles driven. Do you and your wife--if you have one--drive anywhere near that far?

--------------------------------------------------------------------------------------

How in the hell do you get the idea that I don't think $1,200 per family is a significant amount?

Do the math, and tell me if you and yours drive anywhere near enough to total an increase of $1,200 in a year. It takes a helluva lot of driving!

Because you have constantly stated that it is a small amount..here and on the jsonline board..so were touting the same thing when it was at a buck sixty.

BTW, your figures, as usual, are outta your ass. I spend at least 50 bucks a week on gas...that is 2500 per year. Assuming pre 2001 prices of roughly a buck...i'm spending 1500-1800 more per year. And, that is a VERY conservative estimate.

I have no idea how you come up with with your driving figures.

My brother drives on average 2 hours a day...one hour to work, one hour back. It isn't an issue of just total miles....do you think that when you sit in traffic on the freeway you aren't burning gas. Do you think that this country which has premoted suburban living..ever expanding..and the freeway system...is burning less gas?

When i lived in the burbs of miltown...places like Mequon were far from the city...now people are living way further out and commuting.

You love to pretend that your world is how the rest of us operate. Do you really think those SUV/Hummer/luxury vehicle drivers are getting 25 mpg.

No, but do you really think that hummer and luxury vehicle owners are worried about inflation and gas going up in prices?

[GrnBay007]

Tyrone, your case and your brother's are exceptional. Most people don't drive near that much. I have to assume you both are making pretty good money doing all that driving--or else you wouldn't be doing it.

When people talk about the gas prices, it's funny how they only relate it to their jobs and the amount of money they make. I make a decent amount of money and it only takes me 10-15 minutes, tops to make it to work. What about the other stuff? Two kids in sports...pretty much year round, track, baseball, volleyball, basketball and football. Usually at least two games a week and generally two practices a week. Some of the games traveling 30-45 min. ....that adds up to a lot over the year, probably 60x what I spend on gas to go to work. What are you supposed to say? sorry kids, mom can't afford gas at these prices to be driving you to your sporting events......maybe you can find a nice little gang to join.

It's not just the gas prices. How many people can honestly say their paycheck is not going as far as it did two years ago?

[sheepshead]

Tyrone, your case and your brother's are exceptional. Most people don't drive near that much. I have to assume you both are making pretty good money doing all that driving--or else you wouldn't be doing it.

When people talk about the gas prices, it's funny how they only relate it to their jobs and the amount of money they make. I make a decent amount of money and it only takes me 10-15 minutes, tops to make it to work. What about the other stuff? Two kids in sports...pretty much year round, track, baseball, volleyball, basketball and football. Usually at least two games a week and generally two practices a week. Some of the games traveling 30-45 min. ....that adds up to a lot over the year, probably 60x what I spend on gas to go to work. What are you supposed to say? sorry kids, mom can't afford gas at these prices to be driving you to your sporting events......maybe you can find a nice little gang to join.

It's not just the gas prices. How many people can honestly say their paycheck is not going as far as it did two years ago?

Exactly--right when the Dems took over congress. Everything goes to hell in a hand basket.

Here's a prime example of a respected member of the "Party of the People"

http://michellemalkin.com/2008/04/25/if-youre-going-to-complain-about-gas-prices-nancy/

[hoosier]

Exactly--right when the Dems took over congress. Everything goes to hell in a hand basket.

Here's a prime example of a respected member of the "Party of the People"

http://michellemalkin.com/2008/04/25...-prices-nancy/

Yeah, that really explains everything. Those Dems have just gone hog wild passing new legislation in the last two years.

[sheepshead]

Exactly--right when the Dems took over congress. Everything goes to hell in a hand basket.

Here's a prime example of a respected member of the "Party of the People"

http://michellemalkin.com/2008/04/25...-prices-nancy/

Yeah, that really explains everything. Those Dems have just gone hog wild passing new legislation in the last two years.

That's just it, they havent. Actually they havent done squat.

[Gunakor]

Exactly--right when the Dems took over congress. Everything goes to hell in a hand basket.

Here's a prime example of a respected member of the "Party of the People"

http://michellemalkin.com/2008/04/25...-prices-nancy/

Yeah, that really explains everything. Those Dems have just gone hog wild passing new legislation in the last two years.

That's just it, they havent. Actually they havent done squat.

When the George Bush and the Republican Party won the 2000 election gas prices were about $1.60 to $1.75 per gallon. They have more than doubled in the not quite 8 years since. The price at the pump is now at an all time high. Republican's were in office while the price has balloned to this all time high. Are they not to be held at all accountable for this? What have the Republicans - specifically W himself - done to try and curb gas prices?

[The Leaper]

What have the Republicans - specifically W himself - done to try and curb gas prices?

Do you honestly believe that any president, Rep or Dem, could alter the supply/demand curve of oil? Do you honestly not recognize that the consumption of oil across the globe has increased exponentially since 2000?

More demand = higher prices...that is ECON 101. Unless you have a plan for curbing the demand of 3 billion new consumers entering the industrialized world in India and China, I fail to see how you can blame rising gas prices on any individual.

Both sides have had decades to move forward with legislation to reduce our nation's dependency on oil, and what has been accomplished? To claim that it is entirely the fault of George Bush is an awful narrow viewpoint...and thinking that either potential Dem candidate will change the status quo is quite wishful. Washington as a whole isn't interested in reducing our oil dependence or in addressing the needs of common Americans.

[sheepshead]

Exactly--right when the Dems took over congress. Everything goes to hell in a hand basket.

Here's a prime example of a respected member of the "Party of the People"

http://michellemalkin.com/2008/04/25...-prices-nancy/

Yeah, that really explains everything. Those Dems have just gone hog wild passing new legislation in the last two years.

That's just it, they havent. Actually they havent done squat.

When the George Bush and the Republican Party won the 2000 election gas prices were about $1.60 to $1.75 per gallon. They have more than doubled in the not quite 8 years since. The price at the pump is now at an all time high. Republican's were in office while the price has balloned to this all time high. Are they not to be held at all accountable for this? What have the Republicans - specifically W himself - done to try and curb gas prices?

Of course, its an election year and it will hurt republicans regardless of the reality of the situation. I was just pointing out as Larry King did on that video, that the dems had this secret plan in '06 and they are so in touch with the working middle class-watch the current leader of that party and nothing could be further from the truth. Lear Jet liberals do not know how much it costs to fill up a mini van.


(gas was about $2.25 or so in the Chicago area in 2000)

[hoosier]

What have the Republicans - specifically W himself - done to try and curb gas prices?

Do you honestly believe that any president, Rep or Dem, could alter the supply/demand curve of oil? Do you honestly not recognize that the consumption of oil across the globe has increased exponentially since 2000?

More demand = higher prices...that is ECON 101. Unless you have a plan for curbing the demand of 3 billion new consumers entering the industrialized world in India and China, I fail to see how you can blame rising gas prices on any individual.

Both sides have had decades to move forward with legislation to reduce our nation's dependency on oil, and what has been accomplished? To claim that it is entirely the fault of George Bush is an awful narrow viewpoint...and thinking that either potential Dem candidate will change the status quo is quite wishful. Washington as a whole isn't interested in reducing our oil dependence or in addressing the needs of common Americans.

I think Gunakor was being facetious and trying to show the idiocy of the earlier post blaming the Dems for high gas prices (the rise in prices began when the Dems took over Congress so it must be their fault)

[GBRulz]

[quote="The Leaper"]

Do you honestly believe that any president, Rep or Dem, could alter the supply/demand curve of oil? Do you honestly not recognize that the consumption of oil across the globe has increased exponentially since 2000?

I don't. But, during the mid-term elections two years ago, gas decreased big time. Was $1.99/gal - down from $3+ that previous summer. After the elections were over, they climbed back up again.

It's just one of those things that make you go, hmmm.

[GBRulz]

It's not just the gas prices. How many people can honestly say their paycheck is not going as far as it did two years ago?

exactamundo, 007. Everything is more expensive now, all due in part to high gas prices.

[Gunakor]

What have the Republicans - specifically W himself - done to try and curb gas prices?

Do you honestly believe that any president, Rep or Dem, could alter the supply/demand curve of oil? Do you honestly not recognize that the consumption of oil across the globe has increased exponentially since 2000?

More demand = higher prices...that is ECON 101. Unless you have a plan for curbing the demand of 3 billion new consumers entering the industrialized world in India and China, I fail to see how you can blame rising gas prices on any individual.

Both sides have had decades to move forward with legislation to reduce our nation's dependency on oil, and what has been accomplished? To claim that it is entirely the fault of George Bush is an awful narrow viewpoint...and thinking that either potential Dem candidate will change the status quo is quite wishful. Washington as a whole isn't interested in reducing our oil dependence or in addressing the needs of common Americans.

I was replying to sheeps post, where he implied that the dems "haven't done squat" and that was the primary reason that the price is at an all time high.

That being said, gas prices have more than doubled during Bush's term. They didn't double during Clinton's term, or the earlier Bush's... I'm not placing blame solely on the republican party but I cannot believe that the Bush administration in particular didn't have the most to do with it. He gets the most blame.

[HarveyWallbangers]

That being said, gas prices have more than doubled during Bush's term. They didn't double during Clinton's term, or the earlier Bush's

Do you honestly not recognize that the consumption of oil across the globe has increased exponentially since 2000?

More demand = higher prices...that is ECON 101. Unless you have a plan for curbing the demand of 3 billion new consumers entering the industrialized world in India and China

It could be worse. We rank #102 in Ratio of Gasoline Price to World Average. We are actually well below the world average.

http://www.nationmaster.com/graph/ene_gas_pri-energy-gasoline-prices