Cheap gas no more?

[SimpleS14]

I'm sure many of us saw this coming....

After reading this article: Gas prices could hit $2 a gallon - Feb. 12, 2009 (http://money.cnn.com/2009/02/12/news/economy/gas_prices/index.htm?postversion=2009021214)

It had me intrigued and wondering why prices are going up while oil is damn cheap.

Apparently no one is really driving much and refineries are trying to make revenue of some kind. So they are raising prices on gas trying to soak up any profits they can and create a stockpile of oil while it's cheap.

It makes sense to me and if I was in that business...I would pretty much do the same thing.

What do you guys think?

I don't mind if gas hovers above $2 and caps at $3. Right now I pay $2.11 for 93.

[Phlip]

The problem is OPEC, they got fat while everyone was starving trying to act like $4.00 gas was the norm, and loved it even more when it was damn near $5...
Shit fell out from under them and gas was a third what it had been just like 3-4 weeks earlier and they began their scramble to get them back up, cutting production and all. Fact remains that gas prices are going to go back up for that very reason, I knew it wouldn't last.
I don't mind paying a fair amount for gas, I started driving in 95, gas was like $0.89/gallon. 5 years later, it was about $1.25(?), an increase of a hair over $0.07/year, $2.00/gallon now feels fair. Okay, adjust for changes in the general value of shit and inflation, tack on another dime... $2.11 is right on time, but won't last.

... someone will blame Obama though

[Alpha Residence]

Like Phillip stated, the price of Gas is rising simply because OPEC met and cut production of oil in an effort to prevent the price from bottoming out. It's going to move up again but I highly doubt it will move past 3 dollars again anytime soon.

[atom]

60 minutes had a good story a while back about Saudi Arabia and how 90% of their GDP revolves around oil. When a country relies that heavily on a single resource, you know they're gonna milk it for all it's worth. As soon as our economy gets back on track we'll be back to $4/gallon gas.

[mRclARK1]

Gas will go back up in the summer... People start driving and traveling more and prices will rise.

Hence why I have some fuel drums and jerry cans with a nice little stockpile. Even if gas stays the same price, well then I just have a nice pre-paid stock on hand. haha... It's not like it'll get much, if any cheaper. I did the math and with what I have on hand, if the prices go back up to previous levels from last summer, I save some nice cash. haha

[Otto347]

Im with PHLIP, fair fucking gas prices. They make a shit ton of money off us anyway, just give us a fair price.

[fromxtor]

Gas is still $1.84 for reg here.

[SHIFT_*grind*]

$1.79 here. I don't care if it crests $2.00, just no more dicking us with this $4.50/gallon bullshit.

[Deftec]

They said they will cut production as much as they have to, in order to get prices back up. Shitty deal, but they're basically running a monopoly. I work in the oilfield and this past month or so has been HORRIBLE for work. Just a way to say "hey...we fucked you over before, so we'll just fuck you over again." Just pick yourself up a bottle of lube, and get ready to take a shaft.

[BustedS13]

evil corporations lol

http://www.007museum.com/ng_gunnar_shafer_som_bond_7.jpg

[Flicktitty]

gas is already at $2 here. oh well big fuckin deal....it's still "cheap" compaired to what it was.

[fckillerbee]

2.13 for regular gas....dont mind paything that..but shit..filling a 240 shouldn't cost more than 30 bucks. Then that's just getting crazy. especially since socal people commute.

[duffman1278]

^^ Exactly

But even then OPEC knows it would be stupid for them to raise prices right now during a global recession. Its not that they're trying to raise it to get it back to what it was over summer even though they must have loved that. However its merely the fact they must cut supply because as the numbers keep coming out, they still continue to see that demand is decreasing so they have to cut back. And when this happens usually investors bid more on it.

I've also noticed when they make the statements that they will be cutting oil production, it brings up the price of a barrel up.

[MisawaJason]

Dont even get me started on AAFES gas prices. Military folks know what I'm talking about. They raise the prices in a heartbeat to keep up with the US national average, then when that average goes back down they take a few months before they lower their price.
Army & Air Force Extortion Service

[lflkajfj12123]

DAMMNNnNNNN OBAMA RAISING MY GAS PRICES

[RJF]

The problem is OPEC,

... someone will blame Obama though

It is Obama's fault. We'll be back at $4.00+ by summer.

President Obama is shelving a plan announced in the final days of the Bush presidency to open much of the U.S. coast to oil and gas drilling, including 130 million acres off California's shores from Mendocino to San Diego.



White House puts coastal drilling plans on hold (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/10/MNB015R7TQ.DTL)

[BustedS13]

it's obama's fault dude

[joeapple8]

Gas is still $1.84 for reg here.
thats damn cheap, compared to what I have to pay 2.30 for 89 O:wtf:

[Phlip]

It is Obama's fault.
I didn't say WHO would blame Obama, that much was kinda inferred...
Now I am expecting someone else to say something that can be taken as racist, then take offense when someone mentions it. No worries, Bob, you are not THAT person.

[cc4usmc]

White House puts coastal drilling plans on hold (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/10/MNB015R7TQ.DTL)

I read all that... I guess I missed the part where they explained why they were going to put the plans on hold.

[98s14inaz]

It is Obama's fault. We'll be back at $4.00+ by summer.

President Obama is shelving a plan announced in the final days of the Bush presidency to open much of the U.S. coast to oil and gas drilling, including 130 million acres off California's shores from Mendocino to San Diego.



White House puts coastal drilling plans on hold (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/10/MNB015R7TQ.DTL)

It also has a lot to do with economic terrorism by OPEC. They know they can't attack us directly so they do this passive aggressive stuff and make a profit while they are at it. This whole situation seems like more of the same, the president just has a tan now and speaks better.

[98s14inaz]

I read all that... I guess I missed the part where they explained why they were going to put the plans on hold.

It's so the top 10% who own coastal property don't have to look at oil rigs.:2c:

[Phlip]

It also has a lot to do with economic terrorism by OPEC. They know they can't attack us directly so they do this passive aggressive stuff and make a profit while they are at it. This whole situation seems like more of the same, the president just has a tan now and speaks better.

I would like to PERSONALLY thank you for seeing it that way.

[WanganRunner]

It is Obama's fault. We'll be back at $4.00+ by summer.

President Obama is shelving a plan announced in the final days of the Bush presidency to open much of the U.S. coast to oil and gas drilling, including 130 million acres off California's shores from Mendocino to San Diego.



White House puts coastal drilling plans on hold (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/10/MNB015R7TQ.DTL)


Hmmmm....No.

While I DO support drilling, there isn't enough oil offshore and/or in Alaska to have any meaningful impact on prices, and it wouldn't hit the market for years anyway.

And there's no way it'll be $4.00 again by summer. No. Way.

There was a speculative oil bubble and it exploded. It'll creep back up gradually, but it will absolutely not be at $4.00 by summer unless some major crisis hits refining or production capacities.

Normal seasonal fluctuations don't drive 100%+ price increases, doesn't happen. Maybe 10-20%.

[zeitgeist]

It is Obama's fault. We'll be back at $4.00+ by summer.

President Obama is shelving a plan announced in the final days of the Bush presidency to open much of the U.S. coast to oil and gas drilling, including 130 million acres off California's shores from Mendocino to San Diego.



White House puts coastal drilling plans on hold (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/10/MNB015R7TQ.DTL)

Come down to the Texas bay area and see how beautiful it looks with all this oil shit on the coast.
And I find it funny that you actually believe his decision would have an impact within a year. Think before you type

[somovr4]

My car runs on cup noodles. 2.00 bucks even here in the midwest for gas. deisel is cheaper.

[Matej]

Personally, I blame Obama for the gas prices last summer, and the summer before that.

[EmKayThree]

It is Obama's fault. We'll be back at $4.00+ by summer.


Frankly i don't think it's Obama's fault, but you know he's on the gas companies payroll if gas prices continue to rise as they do.

Or simply because we the people continue to purchase gas.

We have to be stupid to think that gas prices are going to actually lower, no way. For all we know maybe they lowered gas prices because they had to because the whole econmic downfall, we simply cant afford gas. Better have them pay $2 rather than no dollars.

I think however the reason why gas prices went down is because Bush has his own Oil refineries in the middle east now (after the war). Instead of the middle man getting a portion of the money, majority is going to Bush now; straight from the sources.

[Phlip]

I think however the reason why gas prices went down is because Bush has his own Oil refineries in the middle east now (after the war). Instead of the middle man getting a portion of the money, majority is going to Bush now; straight from the sources.

http://img147.imageshack.us/img147/9805/lolwuttranslatedfm0.jpg

[WanganRunner]

blah blah blah ill-informed conspiratorial infantile bullshit blah blah blah


http://i69.photobucket.com/albums/i76/Keifeinzel/LULZ/DIAF.jpg

[Phlip]

I think however the reason why gas prices went down is because Bush has his own Oil refineries in the middle east now (after the war). Instead of the middle man getting a portion of the money, majority is going to Bush now; straight from the sources.
No, seriously... The last thing I am is a Bush supporter, but WHAT IN THE HELL ARE YOU TALKING ABOUT?!

[druthafoo]

hey simples14.. long time no see.. you should come back to the burg and party with us again

oh on topic.. yes gas prices are great

[90hatchie]

nice.....
im gonna enjoy putting 93 in the Z this summer..............NOT
then again i shouldnt complain since were still one of the cheapest countrys around

[S14DB]

I guaranty gas prices going up during the summer. Diesel prices will go down once it gets warm out.

[WanganRunner]

I guaranty gas prices going up during the summer. Diesel prices will go down once it gets warm out.


Yeah, gas prices will inevitably rise, but the seasonal fluctuation doesn't tend to be more than $0.20-$0.30 in most years, maybe fifty cents in a bad year.

The idea that gas will go from $2 to $4, or a 100% increase, just due to seasonal fluctuations is ridiculous.

Gas did NOT fall from $4 to $2 because it was winter, it just happened to occur during winter. Prices fell because the global financial crisis caused the collapse of a speculative bubble on crude oil.

[illvialuver]

the companies hope you think that it is cheaper than it used to be, and they will keep raising, acting like we wont notice 3-5 cents raise in price a day.

I am just bummed out that I did not get to drive my car when the prices where that damn cheap.

As long as it is below 2.50 a gallon I would say that is fair anything over that is greed.

[SimpleS14]

No, seriously... The last thing I am is a Bush supporter, but WHAT IN THE HELL ARE YOU TALKING ABOUT?!

He's saying George H. Bush and other interest wanted the Iraq war to happenn so they have controlling stake over the oil in Iraq. Also they (Bush fam.) already have ties/investments to Saudi interest. Hence how they get mad $$ in the long run.

Of course this is just my assumption of what he's trying to say...don't kill me :axe:

hey simples14.. long time no see.. you should come back to the burg and party with us again

oh on topic.. yes gas prices are great

Hey wassup, I remember you....OMG did I get messed up. ha I'm done if I ever get an invite and a place to crash lol and yes gas prices are good enough that I can afford the road trip.

[WanganRunner]

the companies hope you think that it is cheaper than it used to be, and they will keep raising, acting like we wont notice 3-5 cents raise in price a day.

Oil companies don't set gasoline prices at the pump.

EDIT:

Anyone who's terribly convinced that gas prices are going to shoot up to $4/gal this summer should put their money where their mouth is and buy some oil futures. If you're that sure about it, why not get rich off it?

If you're not that sure, then STFU and enjoy your cheap gasoline.

[aziankingz]

gasoline should be dropping soon.. demand isnt going any where.. and unemployment is rising..

[Phlip]

gasoline should be dropping soon.. demand isnt going any where.. and unemployment is rising..

OPEC doesn't care about that, they had no control over the bubble bursting and the dropout of the value of a barrel, but they can manipulate production to drive it back up once it does.
Like 98s14inaz said a little before, and I agreed with him, it is economic terrorism at the hands of countries who have ALL of their eggs in that basket and will do what they can to make them filthy rich, motherfuck who has to suffer.

[olah.inc]

oh please cry me a river....
i pay 1,20 € for a liter

[90hatchie]

^ exactly
i dont understand why people think its the end of the world
we have some of the cheapest gas around and should appreciate it and not bitch about it being too much

[SlideWell]

oh please cry me a river....
i pay 1,20 € for a liter

yeah, and the transit system in europe is KICKASS.
baby boomers wanna retire, and very wealthy at that. new money wants to see more money, so i guess we'll see what happens. :jerkit:

[jmd8590]

gas prices went down for the election

plain and simple

give them hope then take it away