$5/gallon Gas - There Goes the Economy

X-Runner wrote:

Its great to say that US gas prices are comparably low or that those that are more hooked on gas will suffer the most.

But gas prices are very much tied to the economy and how much you will make, whether you even drive at all.

The more people spend on gas, the less they can spend on other things. You either sell something or work for a company that sells something or invest in a compnay that sells something. You will sell less if a great number of people have less money to spend.

You have an interest in gas prices getting too high for an extended period.

Try convincing the Obama apologists of that fact.

Oh yeah, they will be keenly aware of it when he is out and a republican takes office.

kudzurunner wrote:

I'm happy to see gas prices rise. Although I admire those who structure their lives in accordance with the pleasure principle--party all the time, dude!--I also think there's something healthy and productive about being forced to negotiate with the reality principle.

The reality is that American gas prices are markedly lower than the rest of the world. They're certainly lower in the US than in the UK or Europe.

They're artificially low. They've risen more slowly than the cost of living.

Reality is good. It only looks bad if you're an addict or a drunk who has saddled your life to the pleasure principle.

The fact that we also PRODUCE oil, and Europe does not, helps our price stay lower than theirs.

Why should we price our goods based on what Europe does? I don't understand this argument

$5-Cheap! wrote:

I'm amazed that you think $5 a gallon is expensive. Petrol (gas) in the UK is currently around £1.38 a litre which is approx £6.20/gallon, or approx $10.

Maybe if you had to pay more, you'd all use smaller more economical cars, and reduce the environmental damage your gas guzzlers have been doing for the last 70 years!

Your entire country is what the size of what one or two states? Not comparable.

The President gets too much blame and credit for everything that happens.

Summer of 2008 - gas is high, Bush is Bad

Summer of 2009 - gas is low, Obama is good.

Summer of 2012 - gas is high, Obama is now bad

We could be at $3 or $5 come November.

The factors will be based on, consumer demand, speculators, political events outside of the US, natural and unnatural disasters, and some factors from US policy.

Here is how the two scenarios will play out here:

$5 gas - Obama supporters will point to all of the out of control factors.

Obama haters will blame Obama

$3 gas - Obama supporters will point to this as effective policy by him.

Obama haters will point to all of the out of control factors.

X-Runner wrote:

You have an interest in gas prices getting too high for an extended period.

So, how high is "too high"?

Gasoline and other petroleum products have been hugely subsidized for pretty much forever through the enormous military investments that the government puts out to protect international oil flows. In a much freer market, gasoline prices might well be $10/gal.

Most folks complaining about high gas prices are the same ones who advocate free markets. Well, OK, let the markets run free, let gas prices rise to more realistic levels and all will be optimized.

Gas is what it is because of corporations who are beating the war drums with Iran. If everyone would just ignore the gas price debate and hysteria they would see that it really does not have an impact on your life.

Lemon Law wrote:

Time to buy a Chevy Volt.

A Piece of Crap. They catch on fire.

Keith Stone wrote:

Lemon Law wrote:

A Piece of Crap. They catch on fire.

So did the Ford Pinto, they still sold a s**tload of them.

They haven't and won't sell a shitload of Volts.

I agree with poster, in UK our gas is over $10 a gallon....so DON"T CRY about what you have in the states. I have lived in both places and now drive a toyota hatchback, costs me roughly £65 to fill it....that is roughly $100. SO PLEASE don't complain!!!!

oopsies ... did I say shitload instead of s**tload?

The U.S. dollar is benefiting, temporarily, from the problems in Europe, which have caused a flight of capital out of the Euro and into the USD. We are surviving only by the weakness of other regions, not our own strength. Gas prices are going up this year - I believe that we will take out the 2008 highs.

No Way wrote:

It's also tough to blame any president for this mess when we've actually been exporting more oil than we've been importing. The oil companies get better prices overseas so they sell it to Europe instead of keeping it within our borders to lower prices.

We are a net importer of oil. We are a net exporter of gasoline. We have an excess of refining capacity, not an excess of production. Although domestic production has really increased as a percentage.

Steve Martin wrote:

Try convincing the Obama apologists of that fact.

Oh yeah, they will be keenly aware of it when he is out and a republican takes office.

The price will need to be closer to $10/gal to get one of 2012 clowns into the WH.

The gov't should do what Tom Friedman suggests: Promise that gas prices will NEVER AGAIN be below, say, $5 per gallon. Do this via taxes and index it to inflation.

That will squeeze out the frankly unbelievable number of Americans who drive f'in trucks getting 15 mpg and go a long

way toward ending this geopolital nightmare caused by petroleum imports.

Capitalism is not perfect - it cannot deal with long term value - it is too short term focused. A good role for government is to help preserve the long term sustainability of society. Chevy Suburbans are close to evil.

Mr. Obvious wrote:

No Way wrote:

It's also tough to blame any president for this mess when we've actually been exporting more oil than we've been importing. The oil companies get better prices overseas so they sell it to Europe instead of keeping it within our borders to lower prices.

We are a net importer of oil. We are a net exporter of gasoline. We have an excess of refining capacity, not an excess of production. Although domestic production has really increased as a percentage.

__

my understanding is that we are a net energy exporter because of the monster natural gas boom going on. But on the oil side we import more than we export.

Relax. Our politicians can solve this problem easily.

Obama will tell the congress to "temporarily" suspend the fed gas taxes just like they did the payroll tax and to tax the rich to pay for it. The Repubs will suspend the gas tax out of political fear from the middle "CLASS" but refuse to raise taxes on the rich so they wont "hurt" the economy, and instead they will raise the deficit and borrow the money to cover the lost gas tax revenue.. Problem fixed...!!!!!

Goodbye future.

Yes, you're right of course. However, that doesn't change my point. I'm not even saying that the companies are wrong for selling gas to the highest bidder, that's what they're supposed to do.

Mr. Obvious wrote:

No Way wrote:

It's also tough to blame any president for this mess when we've actually been exporting more oil than we've been importing. The oil companies get better prices overseas so they sell it to Europe instead of keeping it within our borders to lower prices.

We are a net importer of oil. We are a net exporter of gasoline. We have an excess of refining capacity, not an excess of production. Although domestic production has really increased as a percentage.

Les Myles wrote:

The Left attacked Bush when the price of a gallon of gas hit $3.05/gallon. Nancy Pelosi even called a press conference that was happily reported on by the liberal media that said Bush's failure was due to the lack of an effective energy policy.

Where's the outrage from Pelosi and those in the media now? Nowhere! That's because Pelosi and the leftist media care nothing about the price of gas and only on getting their guy elected so he can shove more failed, liberal ideology down the throats of the American public.

The hypocrisy makes me sick!

Ha ha - yeah. I remember the days when Bush was in charge and gasoline was over $4.00 and I never heard a thing from the right. Now that it's again approaching $4.00 all I hear is how Obama is contributing to higher gasoline prices. Hypocrisy indeed.

Santorum? Really? Against prenatal testing....against any state or national support for education....believes in teaching creationism as science? Santorum has saber rattled against Iran quite a bit so no improvement over Obama. Question for Republicans: Are poor people (as a group)stupid? Why is it that the 10 poorest states in the union are the most strongly pro Republican. Heck, 15 to 20% of them didn't even have health insurance and they are voting against the party that's going to cover them.

obama is a duface wrote:

stupid ass obama is throwing his own re-election by picking on iran which has caused oil prices to rise. what an idiot.