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Thread: Gas Prices Skyrocket

  1. #16
    Time is the Revelator. LvJ's Avatar
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    Re: Gas Prices Skyrocket

    $3.09 in Winchester.
    Hide your power alleys; Hide your wife

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  3. #17
    First Time Caller SunDeck's Avatar
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    Re: Gas Prices Skyrocket

    Even at $3.50 a gallon, which is projected to be the price on a temporary basis, we are just now eclipsing the highest prices for gas (in real dollars) that we were paying in the early 80's.

    The average price per gallon in the US as a percentage of income will still be relatively low, especially compared to other countries.

    That is not to say it isn't shocking to see the price climb over $3.00 a gallon, but the prices will come back down after this mess gets cleared up and we will be back to relatively cheap gas.

    I'm curious- has anyone changed their driving habits yet? I have only driven to work once this week and I plan to bike whenever it's feasible. After all, I may think gas is cheap relative to gas in Europe, but that doesn't mean I want to pay more.
    Next Reds manager, second shooter. --Confirmed on Redszone.

  4. #18
    Member Reds4Life's Avatar
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by SunDeck
    Even at $3.50 a gallon, which is projected to be the price on a temporary basis, we are just now eclipsing the highest prices for gas (in real dollars) that we were paying in the early 80's.

    The average price per gallon in the US as a percentage of income will still be relatively low, especially compared to other countries.

    That is not to say it isn't shocking to see the price climb over $3.00 a gallon, but the prices will come back down after this mess gets cleared up and we will be back to relatively cheap gas.

    I'm curious- has anyone changed their driving habits yet? I have only driven to work once this week and I plan to bike whenever it's feasible. After all, I may think gas is cheap relative to gas in Europe, but that doesn't mean I want to pay more.
    It's going to take a long time to get those rigs and ports back online, could be well into 2006. Most analysts don't believe our current economic conditions can sustain $3+ gallon gas (some are predicting $4/gallon by next week) over a long period of time and it could drop us back into a recession for the 4th quarter.
    Pessimists are well informed optimists

  5. #19
    Member RedsFan75's Avatar
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    Re: Gas Prices Skyrocket

    I filled up on Monday evening at 2.39 in London KY. Today it's 3.09.

  6. #20
    CELEBRATION TIME RBA's Avatar
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    Re: Gas Prices Skyrocket

    Republicans starting to wake up?




    Print this articleClose This WindowSenior Republican warns of gasoline price-gouging
    Wed Aug 31, 2005 03:37 PM ET

    WASHINGTON (Reuters) - Incidents of retail gasoline

    price-gouging caused by Hurricane Katrina are occurring

    throughout the United States and should be prosecuted, the

    Republican head of the House Energy and Commerce Committee said

    on Wednesday.

    Wholesale gasoline futures traded on the New York Mercantile

    Exchange rose sharply on Wednesday to a record high of $2.92 a

    gallon on growing concerns about the U.S. supply.

    The killer storm that hit Louisiana on Monday shut nine Gulf

    Coast refineries with combined capacity of nearly 2 million

    barrels per day (bpd). Four other refineries were crippled and

    running at reduced rates.

    "I think a very good case can be made today that some

    retailers have taken advantage and begun to gouge" consumers,

    Texas Rep. Joe Barton told reporters at a news conference.

    If price gouging is occurring, "that is going to have to be

    investigated" and prosecuted by the federal government, he

    said.

    For example, retail gasoline prices jumped $1 a gallon in a

    single day in Michigan, an increase roughly equivalent to a $24

    a barrel increase in crude oil, he said.

    In his own district in Texas, Barton said he purchased

    gasoline at $2.41 a gallon at a station that raised the price to

    $2.68 a gallon later on the same day.

    However, Barton said he saw no need for federal price

    controls on gasoline or oil. U.S. oil demand was not changed by

    Hurricane Katrina, he said, although supply is temporarily

    affected.

    "I'm against it, we're a free market economy," Barton said,

    referring to any government-imposed freeze on prices.

    The U.S. Energy Department has encouraged motorists to

    contact a hotline to report any alleged price-gouging.

    Barton said his committee will hold a hearing Tuesday on the

    impact of Hurricane Katrina on U.S. energy prices.

    He also noted that between 40 and 45 percent of U.S.

    refinery capacity is in the Gulf Coast area affected by

    Katrina's powerful winds and flooding.

    Industry analysts have long worried about how U.S. refining

    capacity has not kept pace with growing U.S. gasoline demand.

    Barton said he asked President George W. Bush to look into

    ways to build new refineries farther inland to avoid a repeat of

    Hurricane Katrina's impact. "It would be nice if we could

    diversify our refinery base in some non-coastal states," he

    said.

    Earlier this year, Bush suggested that some abandoned U.S.

    military bases could be used as sites to build new refineries but no energy companies indicated an interest in pursuing such an option.

  7. #21
    Administrator GIK's Avatar
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    Re: Gas Prices Skyrocket

    $3.19 per gallon for 87 here in SE Michigan (even more in surrounding areas).

  8. #22
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    Re: Gas Prices Skyrocket

    Bush is awesome.

  9. #23
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    Re: Gas Prices Skyrocket

    I went into Kroger about 11:15 this AM. Gas was 2.55/2.65/2.75. When I walked out 15 minutes later it was 3.19/3.29/3.39. I guess I shouldn't have gone in-it's all my fault.
    I've been to dinner at Jimmy Buffet's house, and I've eaten it at a homeless shelter. And there's great joy and harrowing terror to be found in both places.
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  10. #24
    Member Reds4Life's Avatar
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by Falls City Beer
    Bush is awesome.
    Yes, it's Bush's fault Hurricane Katrina destroyed a major oil port and a bunch of oil rigs.

    This is not the place to start yet another political meltdown; otherwise those posts are getting deleted.
    Pessimists are well informed optimists

  11. #25
    For a Level Playing Field RedFanAlways1966's Avatar
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by Falls City Beer
    Bush is awesome.
    Yep. I guess if he had drilled for oil up north in our one of own 50 states, we may not have this dilemna. I wonder who has opposed killing all that ice plankton up there? Those types are more awesome!

    Yep. I am sure some extremists will blame him for Hurricane Katrina. Some might even make a movie about it. Many will see that movie and believe every word.

    PRESIDENT Bush... by the way.
    Small market fan... always hoping, but never expecting.

  12. #26
    CELEBRATION TIME RBA's Avatar
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    Re: Gas Prices Skyrocket

    Should we return back to the 2000 campaign and Bush's pledge what he would do about gas at $1.50 a gallon?

  13. #27
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by Reds4Life
    Yes, it's Bush's fault Hurricane Katrina destroyed a major oil port and a bunch of oil rigs.

    This is not the place to start yet another political meltdown; otherwise those posts are getting deleted.
    Yep. That's just what I said: "Bush caused the hurricane."

    Here's the thing: gas prices were already through the roof; because they've climbed higher than the pin oaks out back because of a hurricane is just another sign that Bush lacks preparedness.

    My initial comment in this thread, in case anyone actually bothered to care, is in reference to Bush's asking people to "conserve" energy (a post made earlier in the thread). Bush asking people to conserve energy...that's a laugh.
    Last edited by Falls City Beer; 08-31-2005 at 05:10 PM.

  14. #28
    Member CTA513's Avatar
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    Re: Gas Prices Skyrocket

    Expect more people to start stealing gas... either from the gas station or someone elses car.

  15. #29
    Member Reds4Life's Avatar
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    Re: Gas Prices Skyrocket

    The spike of gas today has NOTHING to do with the President; it's thanks to a perfect storm situation in a region that serves at the major import station for this country. Oil will be released from the strategic reserves to help reduce shortages. I know you'll try your hardest to somehow blame this on the President, but it ain't his fault.
    Pessimists are well informed optimists

  16. #30
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by Reds4Life
    The spike of gas today has NOTHING to do with the President; it's thanks to a perfect storm situation in a region that serves at the major import station for this country. Oil will be released from the strategic reserves to help reduce shortages. I know you'll try your hardest to somehow blame this on the President, but it ain't his fault.
    Whatever dude. You're trying to bait me. I'm not playing your game. Read my post above. I was making a comment on the idea that Bush wants Americans to conserve energy after having the most laissez-faire attitude towards fuel expenditure and consumption in this country's history. I'm done with your game.


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