2012 gas prices, oh boy..

[Keven]

Let's all move to Colorado.

[kbohip]

Let's all move to Colorado.

You might as well. Everybody else has it seems.

[baghdad bob]

some areas are getting the benefit of the oil companies dumping product.

http://www.businessweek.com/news/201...vey-shows.html

Stockpiles Rose

U.S. gasoline stockpiles increased 1.63 million barrels to 231.8 million in the week ended Feb. 3, according to the Energy Department. Supplies were at an 11-month high and gained 14 percent since Nov. 4.

Deliveries to wholesalers during the past four weeks were 6.8 percent below a year earlier while total fuel supplied was down 4.8 percent.

Gasoline demand at the pump in the week ended Feb. 3 sank 2.8 percent from the prior week and was more than 5 percent below year-earlier levels for the third straight week, according to MasterCard Inc.’s SpendingPulse report on Feb. 7. Consumption during the previous four weeks was 4.9 percent below a year earlier, the 48th consecutive decline in that measure.

bb

[kbohip]

Joy. Oil just topped $105 a barrel. I'm sure the local gas stations will be very slow to react to the higher price though, you know, just like they do when the price per barrel goes down.

[7th Angel]

$5/gal gas is a small price to pay to insure that obama will be a one term president. The sooner it hits $5.00, the better!

[falcon_view]

Fuel consumption is down. So what is driving the price? I know, how about the rest of you? Those on the right would love it if there was a republican president.

[kbohip]

$5/gal gas is a small price to pay to insure that obama will be a one term president. The sooner it hits $5.00, the better!

Fuel consumption is down. So what is driving the price? I know, how about the rest of you? Those on the right would love it if there was a republican president.

As much as I'd love to believe the president has much to do with the price of gas, I'm afraid the situation is mostly out of their control. Fact is, China and India are buying a LOT more oil than they used too, and this won't be changing any time soon. Still, I would like to see the US go after any oil that's feasible to get to. Yes, I know we don't have as much as the ME or even Canada, but I really don't see why if you own a gold mine, it makes more sense to leave the gold in it, especially when the price of it is high.

[Keven]

As much as I'd love to believe the president has much to do with the price of gas, I'm afraid the situation is mostly out of their control. Fact is, China and India are buying a LOT more oil than they used too, and this won't be changing any time soon. Still, I would like to see the US go after any oil that's feasible to get to. Yes, I know we don't have as much as the ME or even Canada, but I really don't see why if you own a gold mine, it makes more sense to leave the gold in it, especially when the price of it is high.

Falcon View believes that the evil republican businessmen at BP and ExxonMobile are keeping the price of gas high so the dumb tea party masses vote for a Republican president.

[jimzinsocal]

Good write up here

http://www.chicagotribune.com/news/o...0,305981.story


From what Ive read..the current price increases seem to be a result of the seasonal adjustments made to fuels..a fire in a far western refinery etc.
And I understand..our collective impluse is to blame politicians and at the same time to look to politicians to solve the problem. Politicians should back away from the issue. What is a politician going to do? Call for the Keystone solution? Keystone wont change pump prices...were awash in oil really.
So resist the temptation of asking politicians to change things.
As long as oil is traded on a global market..of which we are only a "part"..these rises happen....and there is no way to legislate away ME political volitility and its effect on oil costs.

Nothing cures high prices like high prices.

[bk94si]

If we had Keystone and Alaska and more off shore drilling, the ME turmoil would not affect us as much. And, the seasonal adjustments are BECAUSE of politicians.

[jimzinsocal]

^^Yeah bigtime...thats the biggest benefit...less risk in oil prices

[Keven]

Obama just wants us all to drive Nissan Leafs.

[jimzinsocal]

Yeah^^ and ignore the fact that sanctions on Iran have hidden costs. I also read the administration claim that oil demand is way down because of car standards etc. ...again avoiding the obvious impact of huge unemployment.

[Mountain Mania]

Yeah^^ and ignore the fact that sanctions on Iran have hidden costs. I also read the administration claim that oil demand is way down because of car standards etc. ...again avoiding the obvious impact of huge unemployment.

Likely that and the Afghanistan occupation.....Saudi Arabia is funding Al Queda to some degree.

[bk94si]

How does Saudi funding Al-Queda affect the price of oil?