$5/gallon Gas - There Goes the Economy

Today I got gas for 36 cents a gallon. They had switched the prices from yesterday i presume and forgot to put in the 9 at the end when they were entering the digits into the computer i presume? so it was .368. 12+ gallons for 4.50- Score! its like living in the 60s.

realist21 wrote:

OK......well seen as here in Ireland we are paying $8 plus per gallon and Uk are paying closer to $9, how could a mere $5 per gallon drive "the great nation" into a recession ! !

Comments please............

I could walk across your little country in an afternoon. Sorry your government rapes you every time you fill up.

Will E wrote:

If gas hits $5/gallon you'll be asking President Santorum for relief because there's no way Obama will be re-elected.

Unless the moron taps the strategic reserves. If he does that, this country will be in a world of hurt.

"Under my plan, energy prices would necessarily skyrocket". Barak Obama

" Somehow we have to figure a way to boost the price

of gasoline to the levels in Europe" Steven Chu (Energy Secretary)

You have a winner alright!

Their government isn't raping them. Ours is raping us by keeping fuel prices artificially low.

For extra realzes wrote:

realist21 wrote:

OK......well seen as here in Ireland we are paying $8 plus per gallon and Uk are paying closer to $9, how could a mere $5 per gallon drive "the great nation" into a recession ! !

Comments please............

I could walk across your little country in an afternoon. Sorry your government rapes you every time you fill up.

words do matter....so listen wrote:

"Under my plan, energy prices would necessarily skyrocket". Barak Obama

" Somehow we have to figure a way to boost the price

of gasoline to the levels in Europe" Steven Chu (Energy Secretary)

You have a winner alright!

Ding! Ding! Ding! This has been Obamas stealth energy policy. Keep energy prices high so his campaign contributors' green energy companies can compete with their high prices. Why do you think he's been bailing out companies like Solyndra so much?

Time to buy a Chevy Volt.

Our domestic oil consumption, as a percentage of total consumed domestically, is at a post ww2 high. So, high oil prices are less detrimental than when more came from foreign sources. Still, not a great thing.

Hopefully high prices will drive demand for renewables, which are lot laden with negative externalities, as most fossil fuels are.

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.

http://lonelyconservative.com/2011/02/hey-remember-when-nancy-pelosi-blamed-george-bush-for-high-gas-prices/

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!

Why? You should be immune to it by now. I have built up my resistance so it does not shock me as much anymore.

I drive and I vote wrote:

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 remember when they made the same argument about $3 gas.

(that was before $3 gas became the norm)

I don't think you get what strategic reserves are meant for. First it's only 700 million barrels ( around a months supply) and second it's not for price manipulation no matter what desperate presidents and politicians think.

Time to buy a Chevy Volt.

A Piece of Crap. They catch on fire.

Standford Grad wrote:

O I no I no wrote:

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!"

...

Take a chill pill dude. We're having a serious economic discussion here. Great minds think about great things.

I see. Yes, this looks like a very serious discussion of a very important topic by very well informed and intelligent people.

We all need to start riding scooters. Or, I'm thinking of the Honda CBR250R motorcycle.

That makes you fellers evil then. Take a look at your 401k or IRA and you will find you are invested at 15-30% in petroleum. YOU ARE THE OIL COMPANY YOU DECRY! You also willingly use the baneful product in almost everything you touch.If however you are meaning to be condemning NOCs then I might tend to agree with you. However, taking care of one's own self-interest isn't necessarily evil.

RD wrote:

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.

I <3 Tacos wrote:

I don't think you get what strategic reserves are meant for. First it's only 700 million barrels ( around a months supply) and second it's not for price manipulation no matter what desperate presidents and politicians think.

My point exactly.

Obama is such an idiot, he had a chance to not be worst the president ever but his recent actions have all but secured that. Congrats Barry!

10/10?

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.