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(Time)   Not happy with $3.50 gas? How about $4.00? Still not happy? How about $6.00 a gallon by spring? EVERYBODY PANIC   (moneyland.time.com) divider line 264
    More: Asinine, CIA Director Leon Panetta, Tom Kloza, gasoline  
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2012-02-20 06:36:36 AM  
Whats good for Goldman Sachs is good for America. No?
 
2012-02-20 06:46:26 AM  
If Israel instead took action in the spring, at which point gas prices are already expected to hover around $4 regardless of strife in the Middle East, then prices would go even higher:

If an attack occurs at that time and you add the same $2.50 increase that reflects crude oil at $200 per barrel, then - as incredible as it sounds- if Secretary of Defense Panetta's intelligence report is correct, your gasoline would be $6.50 per gallon.


So, uh....we've told Israel about this, right? They understand that this would be a bad thing for everyone? I don't want our economies to implode over a miscommunication.
 
2012-02-20 07:15:46 AM  
It's all a clever ruse to conceal the fact that we've hit peak oil and the only way around it is to get everyone driving electric by 2020 2017 2015.

/That's my story and I'm sticking to it...
 
2012-02-20 07:16:00 AM  

miss diminutive: If Israel instead took action in the spring, at which point gas prices are already expected to hover around $4 regardless of strife in the Middle East, then prices would go even higher:

If an attack occurs at that time and you add the same $2.50 increase that reflects crude oil at $200 per barrel, then - as incredible as it sounds- if Secretary of Defense Panetta's intelligence report is correct, your gasoline would be $6.50 per gallon.

So, uh....we've told Israel about this, right? They understand that this would be a bad thing for everyone? I don't want our economies to implode over a miscommunication.


Yeah, but the Liberal MSM Media wants war!
 
2012-02-20 07:19:32 AM  

ghare: miss diminutive: If Israel instead took action in the spring, at which point gas prices are already expected to hover around $4 regardless of strife in the Middle East, then prices would go even higher:

If an attack occurs at that time and you add the same $2.50 increase that reflects crude oil at $200 per barrel, then - as incredible as it sounds- if Secretary of Defense Panetta's intelligence report is correct, your gasoline would be $6.50 per gallon.

So, uh....we've told Israel about this, right? They understand that this would be a bad thing for everyone? I don't want our economies to implode over a miscommunication.

Yeah, but the Liberal MSM Media wants war!


They also want me to give a shiat about the Bachelor....it still isn't going to happen.
 
2012-02-20 07:21:13 AM  

miss diminutive: ghare: miss diminutive: If Israel instead took action in the spring, at which point gas prices are already expected to hover around $4 regardless of strife in the Middle East, then prices would go even higher:

If an attack occurs at that time and you add the same $2.50 increase that reflects crude oil at $200 per barrel, then - as incredible as it sounds- if Secretary of Defense Panetta's intelligence report is correct, your gasoline would be $6.50 per gallon.

So, uh....we've told Israel about this, right? They understand that this would be a bad thing for everyone? I don't want our economies to implode over a miscommunication.

Yeah, but the Liberal MSM Media wants war!

They also want me to give a shiat about the Bachelor....it still isn't going to happen.


Well, I wouldn't think YOU would...but what about those dolts you work with? Or are related to? Or old people?
 
2012-02-20 07:22:04 AM  
God damn President Bush!
Oh, wait...
 
2012-02-20 07:25:01 AM  

ghare: miss diminutive: ghare: miss diminutive: If Israel instead took action in the spring, at which point gas prices are already expected to hover around $4 regardless of strife in the Middle East, then prices would go even higher:

If an attack occurs at that time and you add the same $2.50 increase that reflects crude oil at $200 per barrel, then - as incredible as it sounds- if Secretary of Defense Panetta's intelligence report is correct, your gasoline would be $6.50 per gallon.

So, uh....we've told Israel about this, right? They understand that this would be a bad thing for everyone? I don't want our economies to implode over a miscommunication.

Yeah, but the Liberal MSM Media wants war!

They also want me to give a shiat about the Bachelor....it still isn't going to happen.

Well, I wouldn't think YOU would...but what about those dolts you work with? Or are related to? Or old people?


Well it's ok, it's not they get to vote or anything.

/wait....they do?
//we're boned
 
2012-02-20 07:25:07 AM  

jehovahs witness protection: God damn President Bush!
Oh, wait...


Yes, yes, we know, sweetie, W was just the swellest pres evar! And his hamfisted handling of international and domestic affairs isn't go to be a problem for America for years to come, because derpderpherpaderp.

Really, the W years are going to be in history books as "America's Great Failure."
 
2012-02-20 07:26:14 AM  

miss diminutive: ...Well, I wouldn't think YOU would...but what about those dolts you work with? Or are related to? Or old people?

Well it's ok, it's not they get to vote or anything.

/wait....they do?
//we're boned


Alas, cruel fate, to be thusly boned!
Ask not for whom the bone bones!
 
2012-02-20 07:34:48 AM  

ghare: miss diminutive: ...Well, I wouldn't think YOU would...but what about those dolts you work with? Or are related to? Or old people?

Well it's ok, it's not they get to vote or anything.

/wait....they do?
//we're boned

Alas, cruel fate, to be thusly boned!
Ask not for whom the bone bones!


2.bp.blogspot.com
 
2012-02-20 07:39:56 AM  
Energy costs will necessarily skyrocket.
 
2012-02-20 08:08:57 AM  

ghare: jehovahs witness protection: God damn President Bush!
Oh, wait...

Yes, yes, we know, sweetie, W was just the swellest pres evar! And his hamfisted handling of international and domestic affairs isn't go to be a problem for America for years to come, because derpderpherpaderp.

Really, the W years are going to be in history books as "America's Great Failure."


You're right. Look at the awesome job O has done.
 
2012-02-20 08:16:50 AM  
So vote Republican. We get it, Time, the economy's recovering and you're reduced to attacking women to try to stir up any interest in your party. Let's play the panic about gas prices card. There's the ticket!
 
2012-02-20 08:21:24 AM  

jehovahs witness protection: Look at the awesome job O has done


Obama's Presidency is far from perfect, but he's light-years ahead of the failure of W. and his cronies.
 
2012-02-20 08:25:57 AM  
ah, so this is how it'll go down. republicans get the israelis to start a war in the middle east, gas prices skyrocket, markets tumble, and obama's approval rating dives, giving us... president santorum and a republican supermajority in january?
 
2012-02-20 08:26:13 AM  
Oil speculation rocks.
 
2012-02-20 08:28:15 AM  
If gas gets over $6/gallon, people will burn down the Goldman Sachs building. And thanks to Jesse Ventura their headquarters is well known even though they don't put a sign out in front for some silly reason.
 
2012-02-20 08:29:56 AM  
img.photobucket.com
 
2012-02-20 08:31:01 AM  
Queue up the broken record calling for tapping into the Strategic Petroleum Reserve so we can drop that pump gas price by a quarter. And all we had to sacrifice was our ability to fuel ourselves in the event of a disaster or some other, you know, actual threat. I swear, that "tap the reserves" line is the worst case of treating a symptom, rather than an actual problem, that I've ever heard.
 
2012-02-20 08:32:12 AM  
We went thru this last year: "five bucks a gallon by Memorial Day!" oh noes!

Never happened.

Problem was, I was hunting for a used car at the time---but due in part to the rumors, rice-rockets were priced off the charts! Ended up with a Caddy. Cheap, runs great, but damn he can suck down some gas!
 
2012-02-20 08:32:40 AM  
If you use a gasoline powered vehicle, you are a fool or the gas companies have you by the balls because of a vehicle-centered culture. I wouldn't want to be in either place. There's no reason personal transportation should cost that much.

But god forbid people stop driving 1-2 ton steel behemoths and use a more sensible vehicle. No, you gotta go to the store in an explosion-powered death machine.

/there are no fatal car accidents, just negligent vehicular homocides.
 
2012-02-20 08:33:02 AM  
I am curious if gas prices are going to rise over time because of the more efficient cars on the road. Utilities already do this. They help legislate for more efficient water usage, natural gas usage and electricity usage...then after a few years, they have to raise their prices, because Holy Crap, customers using less...Utilities already admit to this phenomenon, curious if oil companies will follow suit.
 
2012-02-20 08:33:04 AM  
I keep telling you people, the only reason gas is relatively cheap is because the world is still struggling out of the Great Recession. We hit peak oil a few years ago, shale oil notwithstanding (new window). If the world economy ever booms again, gas is gonna be $6 to $10 a gallon, or more. War with Iran isn't going to happen (at most, you'll see some missile boats sunk and a few air strikes/conventional missiles tossed back and forth). But gas isn't going to get cheap again, ever, without an economic depression.
 
2012-02-20 08:33:26 AM  
Maybe the 2 refineries in new Jersey will reopen, but i won't hold my breath...
 
2012-02-20 08:33:28 AM  
Given the similarities/comparisons to Carter/Reagan and escalation in Iran, I won't be shocked when a few Americans get kidnapped by "terrorists", to be released when a Republican "savior" is voted in.
 
2012-02-20 08:34:19 AM  
GO-BAMA!
 
2012-02-20 08:34:34 AM  
As someone who just filled up his car at $8.46/gallon; cry me a river.
 
2012-02-20 08:34:50 AM  
The funny thing is that this was written before Iran stopped shipping oil to Europe.

Oil is shooting up even with the markets in the U.S. closed today. Israel or no, we are going to get boned hard this spring and summer.

Link (new window)

/the oil is hitting the anus
//we just don't know how hard yet
///has to be a santorum joke in there somewhere
 
2012-02-20 08:36:31 AM  

BorgDrone: As someone who just filled up his car at $8.46/gallon; cry me a river.


Where the Fark do you live?

One of those commie-socialist Euro countries?
 
2012-02-20 08:36:33 AM  
I'd been planning to get rid of my car anyway, but a rear-end collision in October made my choice easier. I only use a bike now, work's only 4 miles away and there's beer around the corner. I'll probably buy a scooter when it gets hot out, but for the past 4 months or so, I've gotten healthier and saved a ton of cash. If only I could keep my head from meeting the pavement more often.

Driving around a 2-3 ton vehicle just to carry my sorry ass places does seem silly.
 
2012-02-20 08:37:36 AM  

FlashHarry: ah, so this is how it'll go down. republicans get the israelis to start a war in the middle east, gas prices skyrocket, markets tumble, and obama's approval rating dives, giving us... president santorum and a republican supermajority in january?


It's about their only hope it seems. But hopefully most voters will realize that the president has little direct control over oil prices and that won't be a deciding factor in the race.
 
2012-02-20 08:38:13 AM  

Confabulat: I'd been planning to get rid of my car anyway, but a rear-end collision in October made my choice easier. I only use a bike now, work's only 4 miles away and there's beer around the corner. I'll probably buy a scooter when it gets hot out, but for the past 4 months or so, I've gotten healthier and saved a ton of cash. If only I could keep my head from meeting the pavement more often.

Driving around a 2-3 ton vehicle just to carry my sorry ass places does seem silly.


You do realize that EVERYTHING is going to get more expensive, right?
 
2012-02-20 08:38:30 AM  
When Eric Cantor's broker speaks, everybody listens.

//obscure. And get off my lawn
 
2012-02-20 08:38:56 AM  

BorgDrone: As someone who just filled up his car at $8.46/gallon; cry me a river.


In my country it's been hovering around $6.50 / gallon since about 2010. Meanwhile I've just come back from a trip in the Seattle area and people are still driving tanks everywhere.
 
2012-02-20 08:39:09 AM  

LavenderWolf: If you use a gasoline powered vehicle, you are a fool or the gas companies have you by the balls because of a vehicle-centered culture. I wouldn't want to be in either place. There's no reason personal transportation should cost that much.

But god forbid people stop driving 1-2 ton steel behemoths and use a more sensible vehicle. No, you gotta go to the store in an explosion-powered death machine.

/there are no fatal car accidents, just negligent vehicular homocides.


I always get yelled at when I say things like "There are no accidents with cars. Everything is either deliberate or the result of carelessness." Then I say the same thing about guns and people really come unglued. It's almost like freedom(tm) and personal responsibility are mutually exclusive, or something.
 
2012-02-20 08:39:15 AM  

ghare: jehovahs witness protection: God damn President Bush!
Oh, wait...

Yes, yes, we know, sweetie, W was just the swellest pres evar! And his hamfisted handling of international and domestic affairs isn't go to be a problem for America for years to come, because derpderpherpaderp.

Really, the W years are going to be in history books as "America's Great Failure."


Hey now, if it wasn't for W and his decisive action, America wouldn't have that massive supply of cheap Iraqi oil being sold direct to us at discounted prices. So we've got that going for us.

/Need to go pick up my ration of Iraqi oil
//Stuff's better then unicorn farts
 
2012-02-20 08:39:36 AM  
Whoever's in the White House gets to set gas prices, you know.

For every gallon you buy, the President gets a nickel.
 
2012-02-20 08:39:43 AM  

BigBooper: You do realize that EVERYTHING is going to get more expensive, right?


Oh yeah, I get that. But not having to pump $30 into my tank every week or so doesn't hurt.
 
2012-02-20 08:39:50 AM  
Conspiracy theory time with the hang over.

Margin commodities traders have peaked gold and are now moving back to oil. In order to get their price movement they've been releasing radon and radioactive argon into the atmosphere to make it look like Iran has been producing a lot more refined uranium than they have been.

All in all... If gas does go over $5 a gallon because of this shiat I think we would have been better off bombing Tel Aviv ourselves.
 
2012-02-20 08:41:04 AM  

BorgDrone: As someone who just filled up his car at $8.46/gallon; cry me a river.


Eh, that's probably an Imperial gallon. So only $6.77 per U.S. gallon. Kwitcherbiatchin'.
 
2012-02-20 08:41:09 AM  
Boo hoo.

Why should one of the richest countries in the world pay some of the lowest prices for petrol / gas in the world?

/yes, I know, everybody else's prices will go up to, I just find it incredibly frustrating that a rich country with a history of making ludicrously uneconomical, inefficient cars moans about the price of fuel when they pay less than half the price paid by most Europeans and less than almost any other country in the world.
 
2012-02-20 08:42:58 AM  
Hey now, if it wasn't for W and his decisive action, America wouldn't have that massive supply of cheap Iraqi oil being sold direct to us at discounted prices

It was never about giving Americans cheap gas. It was just to protect the supply for the oil companies.
 
2012-02-20 08:43:22 AM  
Still driving from Ohio to Utah for a week of off-roading. Remember hearing the same shiat last year. Only paid $3.50-3.80/gallon for that trip.

/About 3,400 total miles, IIRC.
//Good times
 
2012-02-20 08:43:49 AM  

Meepzoid: We went thru this last year: "five bucks a gallon by Memorial Day!" oh noes!

Never happened.


I wonder if news reports predicting super-high gas prices like this actually help keep it from happening.

If people think higher prices are coming, they'll start reacting now either to get themselves into a situation requiring less need for gas or to save money to help with the coming higher cost. Less demand = prices don't go up.
 
2012-02-20 08:44:04 AM  

miss diminutive: If Israel instead took action in the spring, at which point gas prices are already expected to hover around $4 regardless of strife in the Middle East, then prices would go even higher:

If an attack occurs at that time and you add the same $2.50 increase that reflects crude oil at $200 per barrel, then - as incredible as it sounds- if Secretary of Defense Panetta's intelligence report is correct, your gasoline would be $6.50 per gallon.

So, uh....we've told Israel about this, right? They understand that this would be a bad thing for everyone? I don't want our economies to implode over a miscommunication.


I think they know that if gas prices increase Americans will elect someone other than Obama who will more likely to do as they would like. Expect enough sabre rattling to drive gas prices up enough to make one of the current crop of republican candidates seem electable.

The trick of course is to coordinate the sabre rattling with Iran in such a way that it won't actually come to a war, because nobody wants that. The Israelis, the Iranians and the GOP would all prefer a less conciliatory tone in international discourse to strengthen their own power by pointing to the foreign bogey man. They don't want peace, but except for the craziest among them nobody wants war either.

It will be a sort of tightrope walk for everyone. With everyone of them on the rope together. Unfortunately some of the trapeze artist might not just be dressed like clowns they might actually act like it too. It will be hard to tell for the audience and perhaps even the participants.
 
2012-02-20 08:44:08 AM  

Pert: Boo hoo.

Why should one of the richest countries in the world pay some of the lowest prices for petrol / gas in the world?

/yes, I know, everybody else's prices will go up to, I just find it incredibly frustrating that a rich country with a history of making ludicrously uneconomical, inefficient cars moans about the price of fuel when they pay less than half the price paid by most Europeans and less than almost any other country in the world.


Not sure our cost/gallon for the fuel is all that different. However, our tax/gallon is very different.
 
2012-02-20 08:45:34 AM  
Thank goodness I bike everywhere.

/yes even in >100 F summers
//keeps the people who don't truly love me away
 
2012-02-20 08:46:06 AM  
Glad Obama killed the Keystone XL pipeline. We should be more dependent on the Middle East. Not less...
 
2012-02-20 08:47:29 AM  

ronaprhys: Not sure our cost/gallon for the fuel is all that different. However, our tax/gallon is very different.


A fair point and well made.

Still doesn't change the end price to the consumer though, does it?
 
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