Gas prices=$4 ?

[grimlin]

Just saw on news gas will be hitting $4 by Christmas/New years...

OUCH...this sucks.

[jdw174]

Jumped 14 cents a gallon here yesterday.  Now paying $3/gal.

[Low_Budget_Hooker]

Why are we at war again?????

it had nothing to do with 9/11, ..............that was Afghanistan and Al Queda

Wasn't the Weapons of mass destruction......they didn't exist........

I just don't get it.

It's funny but gas prices directly effect the UPS stock.  I wonder what other companies have the same situation  (we are the single largest fuel consumer next to the US Military)

[Guest muddy]

Because gas prices have all to do with the Oil Commodities Trading ring, based on speculation and gambling!

[Low_Budget_Hooker]

But the odd thing is that UPS buys fuel on "contract"  The fuel we use today was bought 2 or 3 yrs ago.  Gas will go up today and the stock will freeze but the new fuel won't be used till 2010.

[slomoe]

I'm just gonna have to learn how to fly to work ...............or run reeaalllly fast.

[Guest muddy]

I'm just gonna have to learn how to fly to work ...............or run reeaalllly fast.

I got you beat, I just found out since I am now "a senior" 55 in this community I can get a .25 cent bus around town BINGO NEXT GEEEZZZ!!!!!!!

[JCrzy4Bass]

My favorite gas station across the street (Woodbridge, Va) which normally has next to unbeatable prices was at 2.87 this morning. Egh. Commutting sucks.

[rondef]

I buy my gas at either Costco or BJs and get my gas 10 to 15 cents a gallon below all of the other gas stations.  I paid 2.67 just the other day.

[Tin]

2.95 average in RI  >  I just dont get it.. the fuel is already in the ground at the gas station, so why does gas the price go up day by day? its not like every station has a fuel truck there every day? It just stinks that its out of our control and we cant do anything about it. I think I'll just start going to work via dogsled once the snow starts falling.

[Troutfisher]

Well, now we know we didn't go to war for oil, or gas prices would have ben 20 cents a gallon.

;D

[grimlin]

We are @ $3.25 per gallon here around home...I was gonna get a moped scooter...but winter time i'd be frozen half way to work.My work is only 7 miles from here,no highways or freeways.All backroads.Problem is i don't want to shell out $600 for one.

[Micro]

The high gas prices this time have nothing to do with supply, and everything to do with demand.  There's plenty of gas to be had.  The prices are going up because people are demanding lots of gas - not just here, but around the world, especially in China.  

It's unlikely gas prices are going to fall significantly anytime soon, and maybe never.    The good part is is that since prices now are due to demand, it will have less of an effect on the economy.  Yes, the price of everything will rise because everything relies on oil.  But the economy will stay strong and the stock market will continue to climb.  Unemployment will remain low.  And everyone will will survive.  

One instersting aside is that since the cost of oil is so high, it may now be economical to start developing America's unconventional oil reserves.  Most people think the largest oil reserves in the world are in the middle east.  That's true with respect to "conventional" oil - sweet light crude.  But oil exists in other forms in other part of the world.  Venezuela's oil is dark, sticky and heavy - like tar.  The majority of Canada's oil comes from "oil sands" (and supplies most of the US's imported oil).  And what a lot of people don't know is that when we take into consideration these unconventional oil reserves, the United States is sitting on the largest deposits on the glode.  Nearly a trillion barrels of recoverable oil exists in the form of "oil shale" located in Colorado and Utah.  Estimates are that the US is sitting on 3 to 8 times as much oil as Saudia Arabia.   The problem up until now is that cost of refining it.  But Shell has apparnetly patented a way to extract super-high quality oil from oil shale with minimal impact at the surface - and they will be able to sell it profitably at $30 per barrel.  Etimates are that these oil shale fields can yield as much oil as Prudhoe Bay did in it's best years and can do it for hundreds of years.  

Good news, indeed.

[mattm]

Albertson's here gives .25 off per gallon coupons(limit 30 gallons).  Really cool and makes it easy deciding which grocery store to go to.  I really feel for the people that have to watch it and this stuff effects.

[fisherdave]

Well I cant comlian to much as long as the oil is up then that means that I have a job. But gas is at 2.90 here in west Texas and that just went up afew days ago 10 or 15 cents in one day.

[cart7t]

Because gas prices have all to do with the Oil Commodities Trading ring, based on speculation and gambling!

Yep, stupid idea.

They said on the news last night that this latest price hike is due to Rumors that there may be shortages of home heating oil this winter.

:

They can make up anything, including planting rumors these days to jack prices and gouge the consumer.

[Guest muddy]

Well ON the Chralie Rose show former Fed Chair Expressed concerns for oil prices and construction fall off as prime drivers for a recession. The Fed cannot effect these 2 areas, and they are prime recessors. The Current Fed, and most recently the Board of Fidelity Investments and Cit Bank Corp have said in various articles in the Wall Street Journal and on various other sources like Bllomberg on Cable( on of the most respected sources on economic issues) that the tandem of : Low orders for new housing, the very week Dollar and raising oil prices are pushing us to a very dangerous period of recession.

The last time these situations lined up, was a few years after Vietnam, when we hade the oil embargo. Fuel went way up, the Credit Crisis at the time was a lot of loans made from the US to third world counties in Central and South America were forgiven, the loans and bonds for the war became due, constuction orders fell, and for us older guys , that was a nasty recession. It was liveable but a lot of jobs went away and never came back, the lowers third of our economy was devestated.

The falling dollar was one of the catalyts for the loss of the American Based steel industry to Japan. The dollar weakened so much it threw the balanace of exported to imported stell way off. I live not far from Bethlehem PA , when you go there US Steel and Bethlehem Steel look like ghost yards, an errie reminder of all those lost jobs!

[Guest avid]

Because gas prices have all to do with the Oil Commodities Trading ring, based on speculation and gambling!

I'm no economist but apparantly the traders are "hedging" against the weak dollar by buying oil futures.

I don't understand it, but I saw it on TV so it must be true.  :-/

[Guest muddy]

Because gas prices have all to do with the Oil Commodities Trading ring, based on speculation and gambling!

I'm no economist but apparantly the traders are "hedging" against the weak dollar by buying oil futures.

I don't understand it, but I saw it on TV so it must be true. :-/

Thats exactly part of the insanity of it all. Rising oil prices help weaken the dollar, then the speculators keep the pressure on the rising fuel prices and the dollar weakens even more. :-/

[Guest avid]

Well, now we know we didn't go to war for oil, or gas prices would have ben 20 cents a gallon.

;D

Don't start  :-X

[llPa1nll]

Would be a good time for some leaders (on either side Democrat or Republican) in this country to stand up. Try and push for a viable alternative fuel source. We as a country as it is clearly obvious are too dependent on oil whether it be foreign or domestic. An Alternative fuel source is the way to go here I believe. It appears that we have not learned the lesson that the Fuel Crisis of the 1970s taught us. If that is true were are doomed to repeat it, which it looks like where we are headed.

What I feel we need to do is start implementing some alternative fuels. The automobile is a start but people often forget that we need to heat/cool our homes too. Home heating oil here in the Northeast is $3.00/gal, which over last year is up almost $1.00/gal. There are rumors that people are going to be on the verge of going cold this year because of the high costs. They are hoping on a mild winter, if not some people might be left in the cold. Yet nothing seems to be done about finding a better energy source for our country.

We need some leadership, plain and simple. JFK made the bold step of starting the ball rolling, on getting a man on the moon in under 10yrs. Its been 30yrs since the Fuel Crisis of the 1970s, where are we now?

[Zel]

But the odd thing is that UPS buys fuel on "contract" The fuel we use today was bought 2 or 3 yrs ago. Gas will go up today and the stock will freeze but the new fuel won't be used till 2010.

Man LBH I refrain from commenting on your first post in respect to Glenn's rules  so I'll tackle the second.

I'm pretty sure you're right in that matter that UPS buys gas futures.  So in a couple of months from now when UPS starts charging our company, and everybody else, a fuel surcharge again, they're actually just gouging us (just like the claims against the big oil companies).  So technically, we shouldn't see a UPS fuel surcharge for another 2-3 years.  And if we do see a surcharge, should we be storming UPS with pitchforks and torches?

[Guest muddy]

Todays energy report: The Avg Heating bill was to rise by 88 bucks for the winter, it has now been upped to 97 dollars for this winter, and when the price per barrel is speculated over the 100 mark, due to a very weak dollar we will be in a recession!!!!!!!!! Wow tahts a surprise.

 The mortage industry also projects that foreclosures will stay at their current rate for another 20 months before thats over, so the new orders for constrution will fall, as well as forcasted dereases in real estate value for old resales, another sign of a weak economy

 When gas prices rise again and pressure prices upward, then we will really see where we are headed.

The retail market, which depends on the Holiday Season for most of it's profits is so worried deep discounts are as litlle as a week ahead of time. This does not look too good

[Raul]

Try and push for a viable alternative fuel source. .

There are alternate sources of energy, but the corporate conglomerate of oil companies which also are the leaders in alternate fuel research and development technology will never ever allow the use of other sources of energy until every single drop of oil in the planet has been consumed and they have profited from it, then they will profit on all the research and development of alternate fuel sources they have been keeping locked.

[Tin]

This could get get nasty, bringing up some touchy issues.  

 Yes it is about time for a powerful political person to step up and take charge. But because it is the whole supply and demand issue the oil companies are allowed to take advantage of the situation. Someone needs to take charge and tell these companies where to put there oil. Almost every quarter the oil companies have record PROFITS, thanks to us. What about state taxes too? That is now about 30-50 cents per gallon depending on what state you live in.

And doesnt the U.S. have reserves everywhere? THE GULF COAST? ALASKA?   Curiosity question.. Does the U.S. have enough oil to sustain itself for a period of time? Try to pull an old school boycott to force prices down?