You can bet your ass that gas prices are going to $5/gallon sometime within the next year...and when (not if) they do, the economy will be flushed down the proverbial toilet again. Enjoy it while it lasts.
You can bet your ass that gas prices are going to $5/gallon sometime within the next year...and when (not if) they do, the economy will be flushed down the proverbial toilet again. Enjoy it while it lasts.
There are still idiots that think the housing bubble caused the recession. We will be right back in another recession if gas goes to $5 and stays there a while.
If gas hits $5/gallon you'll be asking President Santorum for relief because there's no way Obama will be re-elected.
Gas is not going to go up to $5/gallon unless perhaps for a very brief spike. Its proven that when gas goes beyond $4/gallon Americans cut back on their gas consumption, producers put more on the market and prices go down. Certainly if gas approaches $5/gallon Obama will tap the strategic reserve.
It never ceases to amaze me how people pretend they understand supply and demand, yet they throw that principle out the door the second they discuss what the price of something may be.
1 year ago, crude was $96. It's only about $10 more right now. Last April it hit $115, and I think the economy did not fail. In 2008, crude hit ~$160 and I was long in the futures from roughly March through June of that year. I don't see any such trend at this time.
premium is already 4.50 where I live. We've been well over 5.00 in the past and will be again soon I'm sure.
Milton Friedman Opines wrote:
You can bet your ass that gas prices are going to $5/gallon sometime within the next year...and when (not if) they do, the economy will be flushed down the proverbial toilet again. Enjoy it while it lasts.
Why do people say things that are this ^ stupid? Are folks really stupid enough to believe this stuff? Just trolling? Are they 19 years old so they get oh, so excited by stupid little trivial "news" - "Gas prices are going up! Gas prices are going up!" "The sky is falling! The sky is falling!"
Seriously are you that stupid, immature and gossipy?
Get a life. And get a brain while you are at it.
what about shipping wrote:
There are still idiots that think the housing bubble caused the recession. We will be right back in another recession if gas goes to $5 and stays there a while.
It did...gas as 92% lower when Bush left office than it is now (as of last week BEFORE the huge jump today when Iran cut off sales to a couple of countries). High energy prices just exacerbated the problem.
coach d wrote:
1 year ago, crude was $96. It's only about $10 more right now. Last April it hit $115, and I think the economy did not fail. In 2008, crude hit ~$160 and I was long in the futures from roughly March through June of that year. I don't see any such trend at this time.
You forgot the 0bama factor this time.
what about shipping wrote:
There are still idiots that think the housing bubble caused the recession. We will be right back in another recession if gas goes to $5 and stays there a while.
The recession of 2008 was due to both the housing bubble AND high gas prices...to think it was entirely due to just high gas prices is equally as idiotic...
I can only lol at some of these responses and the stupidity contained within.
I recommend you guys get bikes and try to simplify your lives.
I would also recommend to always have 5-10 gallons of gas stored in case of emergency. Use gas preservative in airtight cannisters. Replace this gas every 3 months. I also recommend locking gas caps, and keeping your car in a garage as well as car pools with like minded friends (preferably from work) who will also do this as well.
Probably make it 8-10 months if you're smart with some form of daily vehicle transportation if its a necessity during a gasoline shortage.
Also get used to the term 'Gasoline Shortage'.
You're going to be hearing it a lot soon.
O I no I no wrote:
Milton Friedman Opines wrote:You can bet your ass that gas prices are going to $5/gallon sometime within the next year...and when (not if) they do, the economy will be flushed down the proverbial toilet again. Enjoy it while it lasts.
Why do people say things that are this ^ stupid? Are folks really stupid enough to believe this stuff? Just trolling? Are they 19 years old so they get oh, so excited by stupid little trivial "news" - "Gas prices are going up! Gas prices are going up!" "The sky is falling! The sky is falling!"
Seriously are you that stupid, immature and gossipy?
Get a life. And get a brain while you are at it.
Take a chill pill dude. We're having a serious economic discussion here. Great minds think about great things.
I hated Bush- but I wasn't stupid enough to blame him for gas prices. I like Obama- I'm not going to blame him. The Oil companies are evil.
I remember when they made the same argument about $2 gas.
ryan foreman wrote:
Gas is not going to go up to $5/gallon unless perhaps for a very brief spike. Its proven that when gas goes beyond $4/gallon Americans cut back on their gas consumption, producers put more on the market and prices go down. Certainly if gas approaches $5/gallon Obama will tap the strategic reserve.
It never ceases to amaze me how people pretend they understand supply and demand, yet they throw that principle out the door the second they discuss what the price of something may be.
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!
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.
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!
runn wrote:
I hated Bush- but I wasn't stupid enough to blame him for gas prices. I like Obama- I'm not going to blame him. The Oil companies are evil.
We have a winner.
ryan foreman wrote:
Gas is not going to go up to $5/gallon unless perhaps for a very brief spike. Its proven that when gas goes beyond $4/gallon Americans cut back on their gas consumption, producers put more on the market and prices go down. Certainly if gas approaches $5/gallon Obama will tap the strategic reserve.
It never ceases to amaze me how people pretend they understand supply and demand, yet they throw that principle out the door the second they discuss what the price of something may be.
Do you have any source for that?
stupid ass obama is throwing his own re-election by picking on iran which has caused oil prices to rise. what an idiot.