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(ABC)   Gas prices are rising so fast reporters can't even get through a report about how fast gas prices are rising without the price of gas rising   (abcnews.go.com) divider line 129
    More: Scary, BBC World News, ABC News, gas prices, Downtown Los Angeles, American way of life  
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6132 clicks; posted to Main » on 23 Feb 2012 at 10:55 AM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-02-23 09:54:18 AM  
if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.
 
2012-02-23 10:49:20 AM  
I love that the people catching the brunt of the anger are the poor shlubs working the register for $7 a hour.

That's not even shooting the messenger. Its like shooting the messenger's horse.
 
2012-02-23 10:59:43 AM  
Because fark you, that's why.

Oil will reliably choke any "recovery" that might happen.
 
2012-02-23 10:59:58 AM  
Meanwhile some triple chinned oil company CEO is getting a $1 million bonus this year.
 
2012-02-23 11:00:41 AM  
.10 every two minutes? I better fill up
 
2012-02-23 11:01:20 AM  
So glad I have a motorcycle....Only holds 3.5 gallons and gets 45 MPG
 
2012-02-23 11:01:57 AM  
Can we start 2 pools. One that about how high the doom sayers say the price of gas goes, and the other about how the actual price of gas. The highs being for this summer.
 
2012-02-23 11:02:12 AM  
img.photobucket.com

/filled up at $3.69 this morning
 
2012-02-23 11:02:20 AM  

Jake Havechek: Meanwhile some triple chinned oil company CEO is getting a $1 million bonus this year.


only 1 mil? you forgot some zeros.
 
2012-02-23 11:03:52 AM  
Plenty of ways to do something about this. Though, the United States is now a net exporter of gasoline, and world consumption has risen, so changing our behavior won't have as much effect as it might have in the past, but at least you can do things to reduce your direct personal exposure to gas prices.

i1163.photobucket.com
i796.photobucket.com
i1023.photobucket.com
i276.photobucket.com
i171.photobucket.com
 
2012-02-23 11:03:59 AM  
Remember when they used to give us bullshiat explanations for the increase in price? Now it's just, fark you, pay me. At least tell me it's in preparation for the easter blend of gasoline, or gay marriage or something causing it.
 
2012-02-23 11:04:46 AM  
FTA: Even Vega seemed truly surprised to see such a drastic change in such a short period of time, telling Sawyer that "it is almost too unbelievable to believe."

facepalm.jpg
 
2012-02-23 11:04:57 AM  

thomps: if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.


10 years ago they wouldn't let the Alaskan oil preserve be drilled...for... oil.... one of the big arguments was that "It won't even be producing oil for 10 years."

10 years ago.
 
2012-02-23 11:05:31 AM  
userserve-ak.last.fm
 
2012-02-23 11:05:43 AM  
abcnews.go.com

Whoa, the delta between regular and premium is only $.20? Around here it used to be that way, but roughly 5 years ago it suddenly became $.30 so that midgrade is $.15 above regular and so on.

My car knocks on mid-grade (stupid high compression ratio) so I have to use premium. The negative side of having power. I'm old now so I think my next car will be a Koreacon Econobox 2000, or maybe some type of motorized skateboard.
 
2012-02-23 11:06:03 AM  
You can't have a strong stock market and low gas prices at the same time. If the stock market is strong, then the oil speculators have cash to invest, and thus oil prices will rise and then gas prices will too.

So if you want low gas prices, then hope the stock market crashes again.
 
2012-02-23 11:06:04 AM  
i633.photobucket.com
i257.photobucket.com
 
2012-02-23 11:06:35 AM  

GORDON: thomps: if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.

10 years ago they wouldn't let the Alaskan oil preserve be drilled...for... oil.... one of the big arguments was that "It won't even be producing oil for 10 years."

10 years ago.


How much oil you pump out of the ground doesn't mean shiat unless you have the expanded capacity to refine it.

There has not been many new refineries built in the USA for many years.
 
2012-02-23 11:07:34 AM  

GORDON: thomps: if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.

10 years ago they wouldn't let the Alaskan oil preserve be drilled...for... oil.... one of the big arguments was that "It won't even be producing oil for 10 years."

10 years ago.


Damnit! We could have nationalized all of that oil and forced it to be sold in the United States, but "the free market" libs won't let that happen. They make me want to puke!
 
2012-02-23 11:08:19 AM  
Must be election time...


Big Business on record setting profits while fighting bringing the tax rate back to the ORIGINAL rate before Bush's "temporary" cut : "This hurts us more than it hurts you, blame Obama..."

massholes on the right: "Thats right, if you don't sacrifice to the business gods they will get angry and smite us... BLAME OBAMA!!!"
 
2012-02-23 11:09:20 AM  
It's funny reading the comments that say it's obama's fault or bush's fault. They may have impact over a few cents here or there but really they don't have much of a say.

allowing the pipeline would not have prevented the current spike, infrastructure takes time to build.

You could argue it's because Iran and Israel are saber-rattling again. I'm sure that's a piece of it too.

Most likely it's speculators, and the farked up oil-futures market.


As with anything remotely political. Asinine comments are Asinine.
 
2012-02-23 11:10:13 AM  

StopLurkListen: Plenty of ways to do something about this. Though, the United States is now a net exporter of gasoline, and world consumption has risen, so changing our behavior won't have as much effect as it might have in the past, but at least you can do things to reduce your direct personal exposure to gas prices.

Most cities in the United States do not have public transportation and many are so spread out you cannot ride a bicycle to work or to run errands. I know that's shocking if you've lived around public transportation all your life but it's true. It's also not practical to suggest that everyone move to places with public transportation. While your ideas work for a few, they do not work for the majority.

 
2012-02-23 11:10:47 AM  
thomps

if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.


Obviously you don't understand how the open market works.
 
2012-02-23 11:10:52 AM  
She wasn't being trolled by the guys in the gas station?

If I was working there I'd have set the signs to say:

80085
 
2012-02-23 11:11:06 AM  
Damn Obama for not caving in to the ridiculous desires of Big Oil.
 
2012-02-23 11:12:00 AM  
The stock market is going through the roof(funny how FOX News and righty bloggers conveniently ignore that), so for speculators the casino is open.
 
2012-02-23 11:13:15 AM  

Jake Havechek: GORDON: thomps: if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.

10 years ago they wouldn't let the Alaskan oil preserve be drilled...for... oil.... one of the big arguments was that "It won't even be producing oil for 10 years."

10 years ago.

How much oil you pump out of the ground doesn't mean shiat unless you have the expanded capacity to refine it.

There has not been many new refineries built in the USA for many years.


I don't know how many times it needs to be said, but refinery capacity is not the issue. Refineries are continually closing. Refinery capacity is increasing because refineries are being expanded. Shell's Port Arthur facility will soon be the largest in the world.

www.eia.gov
www.eia.gov

The reason refineries are expanded and smaller ones closed is because of the economies of scale you get from larger refineries which is exacerbated by high crude prices. Higher crude prices shrink refinery margins (called the crack spread) because they're caught between reduced demand and high priced supply so the percentage increase they can charge is reduced.
 
2012-02-23 11:13:40 AM  
Bicycle!
Bicycle!

I'm gonna ride my bicycle!
I'm gonna ride my bike!
/apologies to Queen

//$20 in my pocket each time I leave the biatch sitting in the driveway.
///fark cars anyway.
////Stinky, greasy, money holes.
 
2012-02-23 11:15:31 AM  
Average price in Calgary is 109.9/L, so $4.16 per gallon. Never thought I'd see the day where our gas was cheaper than yours.

/suckers
 
2012-02-23 11:17:39 AM  
Went to $3.79 this morning from $3.69 yesterday. I was down in Maryland for an interview this morning and it was $3.55 down there. Only 30 miles away. Hope I get that job, for the cheap gas and of course a paycheck again.
 
2012-02-23 11:17:40 AM  

GORDON: thomps: if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.

10 years ago they wouldn't let the Alaskan oil preserve be drilled...for... oil.... one of the big arguments was that "It won't even be producing oil for 10 years."

10 years ago.


And that would have transported how many barrels of oil a day?

Yeah. Not much at all in relation to how much we burn a day.
 
2012-02-23 11:20:42 AM  
China and India are also hungry for oil and gasoline and they will not be denied, especially the Chinese.
 
2012-02-23 11:22:30 AM  
just make the futures hold till delivery and oil will drop
 
2012-02-23 11:23:09 AM  
It still amazes me how many people have no concept (I get not knowing the intricacies) of how the market for gasoline works.

Well, no, it doesn't.
 
2012-02-23 11:25:31 AM  
It's the fault of the hybrid manufacturers for building those battery asplodin', electrocutin' cars.
/or so says the illuminati
 
2012-02-23 11:27:22 AM  
Obviously the answer here is to bomb India and China, then market forces will drive the price of gas down. Why isn't anyone pushing for this??
 
2012-02-23 11:27:38 AM  
Not sure why everyone is so upset about rising gas prices. Keynesians continually tell us that consumption is the driving force of the economy, so rising prices for goods like gasoline should be great economic news, since that will cause econmic activity to increase. In fact, you hurt the economy when you attempt to save money by buying goods and services at the lowest price (such as shopping at Wal-Mart), so if you truly believe in Keynsian economics, you should ALWAYS attempt to spend AS MUCH money on a good or service as possible, not save or economize by comparison shopping.

/Not a Keynesian
//Have lots of money stuffed under my mattress
///Saving FTW
 
2012-02-23 11:29:57 AM  
Oil companies are doing this intentionally to get people to support the pipeline.

and they're greeding farks

and commodities speculators who are one step below child molesters and used car salesmen.
 
2012-02-23 11:30:24 AM  
When Bush was President, the most common comment on rising gas prices was it was Bush just lining the pockets of his big oil buddies. Now the comment is that the Pres. has nothing to do with the price of gas (which I believed back then and do now). Is it possible, just even a little, that there are other factors at work?
 
2012-02-23 11:31:24 AM  

thomps: if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.


Er . . . Libya.

/also how does not building a pipeline help?

//also what are these things called "speculators"? It seems they can affect fungible commodity prices based on future predictions, like the presence or absence of a pipeline.
 
2012-02-23 11:31:59 AM  

gretzkyscores: eynesians continually tell us that consumption is the driving force of the economy


It's supposed to be. In the oil commodities market it is not.
 
2012-02-23 11:33:53 AM  

KiwDaWabbit: It still amazes me how many people have no concept (I get not knowing the intricacies) of how the market for gasoline works.

Well, no, it doesn't.


I'm too busy sticking it to BP by getting my gas at Chevron and putting "Drill Here Drill Now Pay Less" stickers on my F-250 and writing on internet message boards about speculators to spend time understanding how the market for gasoline works.
 
2012-02-23 11:34:30 AM  

GORDON: thomps: if obama hadn't stopped the oil industry from instantly building and bringing online the keystone pipeline, we wouldn't be facing record gas prices. it's also not helping that he refuses to blow up any more oil-exporting countries.

10 years ago they wouldn't let the Alaskan oil preserve be drilled...for... oil.... one of the big arguments was that "It won't even be producing oil for 10 years."

10 years ago.


Well it's true. It wouldn't be ready for ten years which is like forever.

Also why invest in some far off futuristic dream that won't come true for a decade when we can instead put all our resources in to a reasonable and manageable dream that can come true right now: like completely shifting over to renewable fuels, electric cars, and ending our oil dependence.
 
2012-02-23 11:35:19 AM  
We're going to have to start using more whale oil
 
2012-02-23 11:39:39 AM  
yeah riding a bicycle is a viable option when you have two kids to haul around and no bike lanes anywhere...right...
Also unless you live in a large town you cannot get to a bus station, nor do the city buses go the proper routes that I would need to travel so that is not a possibility either. Yeah right everyone says move...but the world's entire population can't live in the cities.
 
2012-02-23 11:42:24 AM  
It's almost like the oil industry WANTS to get nationalized. When you stop making it economical for the government to operate a gasoline-fueled army and for the airline industry to even exist, how long do you think you'll last as an independent entity?
 
2012-02-23 11:43:09 AM  
Why is the price of extra octane or additives always an additional 10 cents? How come the difference between gasoline grades never changes?
 
2012-02-23 11:43:44 AM  

Pants full of macaroni!!: [img.photobucket.com image 508x308]

/filled up at $3.69 this morning


Must be nice to live in the middle of the country. Gas in san diego was up to 4.5 this morning
 
2012-02-23 11:45:41 AM  
I don't get it. Maybe someone can explain to me gas station economics. I assume (perhaps incorrectly) that a gas station pays for its gas in advance rather than on credit. So, only if stations get multiple gas deliveries per day, and assuming that each delivery is purchased separately, should it be possible for the price to climb more than once a day.

Or, as has happened as recently as 2008, this is the result of unregulated futures trading artificially raising prices along with station owners taking advantage of a pretty much helpless public. A review of gas speculation and oil economics can be found here. (new window)

Could all of this bullshiat about Israel attacking Iran and Iran's oh so scary nuclear ambitions just be a rehashing of the '73 oil crisis but in a virtual way. In '73 there was an actual decrease in world oil supply that raised prices so dramatically. Iran hasn't stopped it's oil flow. The Straight of Hormuz is open. Has the actual supply of oil decreased? Is this just speculators getting even richer off of the shiatty news cycle we're in?

Or could this really be about peak oil mitigation as some are suggesting? (new window)

Any thoughts?
 
2012-02-23 11:47:14 AM  
Teabaggers hatehatehate public transportation. It's "social engineering", and they fight it tooth and nail.

/enjoy your assraping from Big Oil
//I only fill my tank once a month, so I suppose I'll get a big shock in mid-March
///I love public transportation and urban living
 
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