Gas Prices Could Hit $4 By Spring

Gas Prices Could Hit $4 By Spring

New York Times   |  JAD MOUAWAD   |   February 26, 2008 11:32 PM


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Gasoline prices, which for months lagged behind the big run-up in the price of oil, are suddenly rising quickly, with some experts saying they could approach $4 a gallon by spring. Diesel is hitting new records daily, and oil settled at a record high of $100.88 a barrel on Tuesday.

The increases could not come at a worse time for the economy. With growth slowing, energy increases that were once easily absorbed by consumers are now more likely to act as a drag on household budgets, leaving people with less money to spend elsewhere. These costs could worsen the nation's economic woes, piling a fresh energy shock on top of the turmoil in credit and housing.


 
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- SaintN I'm a Fan of SaintN 4 fans permalink

Rising gas prices are really just a "Test" by Big American Oil to see just what the market will bear! So far Americans aren't even thinking about let alone considering cutting back by taking transit and leaving their gas-guzzling cars at home.Maybe if US Corporate Oil (who really control OPEC) raises the price of gas to $10 dollars a gallon,maybe...just maybe some Americans will really start to flirt with the idea of cutting back!

    Favorite    Flag as abusive Posted 08:46 PM on 02/27/2008

A big thanks to the wacko enviromentalists who have succeeded in making it so we don't drill in ANWAR, and no to nuclear energy!

    Favorite    Flag as abusive Posted 03:51 PM on 02/27/2008
- MajorKong I'm a Fan of MajorKong 383 fans permalink
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Go ahead, drill ANWAR. I'll look forward to saving $.02 a gallon in the year 2015.

    Favorite    Flag as abusive Posted 04:02 PM on 02/27/2008
- rascalov I'm a Fan of rascalov 3 fans permalink

Hey Russ-stoog­e...Nuclea­r energy will do nothing to make your fucking car run. You want to use nuke for transportation? Build more high-speed electric rail, change our sprawl mentality, stop the maniac builders.
ANWAR oil wouldn't grease your dead granny's scalp, pal.

    Favorite    Flag as abusive Posted 04:12 PM on 02/27/2008

rasalov, just typical of you to start calling names. nasty people you are. ANWAR has oil, nuclear energy for electricity. Go back and hug your tree and walk to work oh yea you underachievers don't work because you want workers like me to pay for your cable/food/water and gas. What exactly do people like you do anyway, besides complain?

    Favorite    Flag as abusive Posted 04:50 PM on 02/27/2008

It is exceedingly foolish to draw a straight line conclusion between this and oil that is in the ground; the price is NOT going up because of any scarcity of oil. You would affect the price by a sum total of ZERO by opening that field up for drilling.

You are being played like a fiddle when you jump to such conclusions.

    Favorite    Flag as abusive Posted 04:56 PM on 02/28/2008

Wouldn't it be a good idea to use up OPEC's oil in the next few decades and save ANWAR oil for later when OPEC has run out? Or, how about the other uses of petroleum byproducts besides fuel that we might want to have available for many hundreds of years rather than burning it up in SUVs.

And, I don't understand the business of drilling oil and then storing it in salt mines for a reserve. Why not leave it in the ground in the first place?

    Favorite    Flag as abusive Posted 03:51 AM on 02/28/2008
- TxAggie I'm a Fan of TxAggie 5 fans permalink

Oil in economic quantities may exist in ANWAR but it takes wells, infrastructure, money and time. We cannot assume it is there ready to "tap". ANWAR is one of the most hostile environments in the world to drilll and produce- it is a part of our energy portfolio, not the solution in an of itself. In addition we need to drill and produce throughout our federal lands that includes offshore CA (where billions of bbls exist) and offshore Florida. To do nothing but bitch about oil prices, price fixing OPEC,etc. accomplishes just that nothing. OPEC is not our friend. We cannot control oil prices- it is a worldwide commodity and world demand is fueling the price run up but we can insure our own domestice supply by developing our reserves here and our relationships in our part of the world (S. America, Mexico, etc.)

As for the SPR- the Strategic Petroleum Reserve- it was developed for national security purposes, not price manipulation, drilling for oil is at best a 1 in 6 proposition (success wise)storing it after we have found it is just being prudent.

    Favorite    Flag as abusive Posted 10:20 AM on 03/02/2008
- jdm58 I'm a Fan of jdm58 6 fans permalink

Going to $4.00? Good! Hope we get to $6.00 by summer! Maybe people will wake up to the fact that alternative energy is not only necessary to save the planet, but their wallets too. Money, and the lack thereof, seems to be the only thing that motivates change.

    Favorite    Flag as abusive Posted 03:14 PM on 02/27/2008

Brought to you by the Republican White House, the Republican Congress '94-2006, and the Republican Senate. Hey trolls, let's talk a little bit about the Carter economy compared to the Bush economy. Come on big mouths.

    Favorite    Flag as abusive Posted 02:58 PM on 02/27/2008

Look, I'm not trying to split hairs here... but you need to take a minute to actually think about what you're writing. I'm not disputing the fact that the Republican Congress may have done some bad things, but what you need to understand is that Congress is made up of two branches... The House of Representatives and the Senate... it is NOT Congress and the Senate. Next time you want to open your mouth about something, take a minute to make sure you're using the right words. It will make you actually seem credible!!!!!!

    Favorite    Flag as abusive Posted 10:46 PM on 02/29/2008
- studlyguy I'm a Fan of studlyguy 9 fans permalink

this it in a nutshell,this is Bush/Cheney a big f**k you to the American people before they leave office,they have stolen as much as they can from the treasury, they are i'll be up front with people screwing us on oil prices and this is going to their last big screw you before they leave ,INFLATION is here no matter what fixed government reports say ,and the dems congress allowing the Bush/Cheney regime get away with crimes to numerous to mention makes you wonder no matter dems or repukes there all in it to screw the American people , these are truely dark times people cause the dems are no better then the repukes for allowing all this to go on without any consequences,so INFLATION and the economic storm is hitting and it's going to be lot's of downward spiral for years for all this fraud in banks with the manipulating the subcrime mortgage mess and in oil companies with manipulating oil prices just means were all screwed big time

    Favorite    Flag as abusive Posted 02:38 PM on 02/27/2008
- WIpatriot I'm a Fan of WIpatriot 36 fans permalink
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Right you are, studly, but take a deep breath and write sentences.

    Favorite    Flag as abusive Posted 04:24 PM on 02/27/2008
- studlyguy I'm a Fan of studlyguy 9 fans permalink

LOL,i know but i just type then post ,i just get caught up in getting what is in my head and post ,will work on typing sentences,Wlpatriot

    Favorite    Flag as abusive Posted 05:41 PM on 02/27/2008
- JoeBlough I'm a Fan of JoeBlough 59 fans permalink
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I love the use of the example of the woman who can't afford movies for her kids. Well let's look -

1.) she has an old Dodge Caravan - There's the first problem. A famous gas hog.

2.) she can't take her 4 kids to the movies. There's the second problem. She had 2 kids too many. If she stopped at 1 or 2, she'd be fine.

    Favorite    Flag as abusive Posted 02:31 PM on 02/27/2008

It's all Nader's fault.

    Favorite    Flag as abusive Posted 01:42 PM on 02/27/2008
- SubparDude I'm a Fan of SubparDude 9 fans permalink

:

The Surge Is Working!

:

    Favorite    Flag as abusive Posted 01:32 PM on 02/27/2008
- Nutcase I'm a Fan of Nutcase 49 fans permalink
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The falling value of the dollar will be a significant contributor to the price increases.

cognito ergo populistae

    Favorite    Flag as abusive Posted 12:56 PM on 02/27/2008

Oh no, all those fat bastards driving their big suv's might have to sell them. good luck with that.

    Favorite    Flag as abusive Posted 12:54 PM on 02/27/2008

The trouble with the 'fat bastards' that drive big SUVs is that they've run up the price of gas for the guy driving the hybrid. Now, if we could only charge SUVs $5.00/gal and economy compact cars $1.00/gal that would certainly change habits.

Why aren't I in charge of the world?

    Favorite    Flag as abusive Posted 03:56 AM on 02/28/2008
- Blutus I'm a Fan of Blutus 11 fans permalink

Good!!

Get it up to $6, $7 a gallon
and America might start to get the
message and stop letting oilmen
continue to run the entire planet
as they have since the 19th freaking
century!

And today Exxon doesn't want to pay one dime
for the Valdez spill! Not a dime!

Dmonic, rapacious bastards whose greed
knows no boundaries!

Pour money into alternative energy and scare
the bejesus out of these crooks!

    Favorite    Flag as abusive Posted 12:47 PM on 02/27/2008

Reality check: most environmentalists always complained that gas costs were too low. So unintentionally Bush/Cheney, two most ridiculous anti-envir­onmentalis­ts are helping with their pro- dirty fuel policies. Now that the gas is so expensive, (in Holland it's about $7 a gallon) there's political and economic pressure to finance more RD in alternative fuels and use more available tech. solutions.
For my money, I would legislate a serious luxury tax on any non-commercial vehicle below 25 MPG and quadruple registration fees on the same vehicles.

    Favorite    Flag as abusive Posted 12:41 PM on 02/27/2008

In 1992 Ross Perot recommended a 50 cent a gallon tax increase on gasoline and everyone pissed their pants. That money would have stayed in the U.S. and built roads, mass transit, repaired infrastructure or whatever but no. Eventually, the rise in gas prices went to Exxon/Mobil and OPEC. Boy, are we smart or what?

    Favorite    Flag as abusive Posted 04:00 AM on 02/28/2008

how many times have we heard the promise of $4 gasoline in the past year? I just counted; 7. how many times has it happened? 0. and is there something new to make this time different? nope. hurricane threats? no.
the bottom line here is the market is NOT being controlled by OPEC this time; it's strictly speculators. they had quite the frustrating time last year, ready to raise prices the minute one of the hurricanes hit the Gulf Coast. much to their chagrin, they all hit Mexico or Central America instead. however, every time (like right now) a refinery goes down for any reason (like normal maintenence) speculators raise prices thru the roof. this never used to happen before, until Katrina. they then found a really fertile paranoid public out there, just like we see posting here.
as far as oil reserves still in the ground goes, who has the big dipstick stuck in there, and knows exactly how much is left? I don't think anyone really knows; it's all just speculation.

    Favorite    Flag as abusive Posted 12:29 PM on 02/27/2008
- MonicaL I'm a Fan of MonicaL 2 fans permalink

$4 a gallon? This can't be.

Nancy Pelosi guaranteed in the Fall of '06, if Democrats took the House and Senate, they would bring the price of gas DOWN.

Pelosi lied, people can't drive!

    Favorite    Flag as abusive Posted 12:21 PM on 02/27/2008
- Smartey I'm a Fan of Smartey 3 fans permalink

You're right, Monica.

From Pelosi's website:

"Democrats have a plan to lower gas prices, taking America in a new direction that works for everyone, not just the few. Our plan would empower the Federal Trade Commission to crack down on price gouging to help bring down skyrocketing gas prices, increase production of alternative fuels, and rescind the billions of dollars in taxpayer subsidies, tax breaks, and royalty relief given to big oil and gas companies."

So much for yet another of her campaign promises.

    Favorite    Flag as abusive Posted 03:14 PM on 02/27/2008
- gcallaghan I'm a Fan of gcallaghan 52 fans permalink
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This is Big Oil's one last dash for the cash before the Novemeber elections.

    Favorite    Flag as abusive Posted 12:14 PM on 02/27/2008
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