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$5 GAS BY MEMORIAL DAY: So how many think that the voters will forgive this

This is a discussion on $5 GAS BY MEMORIAL DAY: So how many think that the voters will forgive this within the Energy forums, part of the US Discussion category; Quote: Originally Posted by edthecynic Quote: Originally Posted by bigrebnc1775 Quote: Originally Posted by edthecynic Actually, the price was fairly flat for the year and ...


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  #91 (permalink)  
Old 04-17-2011, 07:26 AM
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Quote: Originally Posted by edthecynic View Post
Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by edthecynic View Post
Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!
Quote:
fairly flat for the year and a half before the GOP took congress
There's the graph calling you a liar.

The price went 1.60 a gallon to 2.70 in less than a year in 2009 and that's fairly flat to you?
Except I said a YEAR AND A HALF before the GOP took over!!!
Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!!
Thats horseshit fairly fllat is level and does not rise
from 6/6/09 until 6/6/10 gas prices rose 20 cent's a gallon
That is not defined as flat
And no where on the graph did the price show 3 to 4.50 price jump. that is a lie.

Last edited by bigrebnc1775; 04-17-2011 at 07:34 AM.
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  #92 (permalink)  
Old 04-17-2011, 07:29 AM
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Quote: Originally Posted by Baruch Menachem View Post
On what basis will gas be that expensive?
Although they are not the only reason, you can thank Wall Street. You can also thank them for the commodities bubble.

From the last time that gas was so high: (CBS Article from Jan 2009)

http://www.cbsnews.com/stories/2009/...n4707770.shtml

Quote:
To understand what happened to the price of oil, you first have to understand the way it's traded. For years it has been bought and sold on something called the commodities futures market. At the New York Mercantile Exchange, it's traded alongside cotton and coffee, copper and steel by brokers who buy and sell contracts to deliver those goods at a certain price at some date in the future.

It was created so that farmers could gauge what their unharvested crops would be worth months in advance, so that factories could lock in the best price for raw materials, and airlines could manage their fuel costs. But more than a year ago those markets started to behave erratically. And when oil doubled to more than $147 a barrel, no one was more suspicious than Dan Gilligan.
Quote:
When 60 Minutes talked to him last summer, his members were getting blamed for gouging the public, even though their costs had also gone through the roof. He told Kroft the problem was in the commodities markets, which had been invaded by a new breed of investor.

"Approximately 60 to 70 percent of the oil contracts in the futures markets are now held by speculative entities. Not by companies that need oil, not by the airlines, not by the oil companies. But by investors that are looking to make money from their speculative positions," Gilligan explained.
Quote:
About the same time, hedge fund manager Michael Masters reached the same conclusion. Masters' expertise is in tracking the flow of investments into and out of financial markets and he noticed huge amounts of money leaving stocks for commodities and oil futures, most of it going into index funds, betting the price of oil was going to go up.

Asked who was buying this "paper oil," Masters told Kroft, "The California pension fund. Harvard Endowment. Lots of large institutional investors. And, by the way, other investors, hedge funds, Wall Street trading desks were following right behind them, putting money - sovereign wealth funds were putting money in the futures markets as well. So you had all these investors putting money in the futures markets. And that was driving the price up."
Quote:
As it turns out, not even J.P. Morgan's chief global investment officer agreed with him. The same that day Eagles testified, an e-mail went out to clients saying "an enormous amount of speculation" ran up the price" and "140 dollars in July was ridiculous."
Quote:
A recent report out of MIT, analyzing world oil production and consumption, also concluded that the basic fundamentals of supply and demand could not have been responsible for last year's run-up in oil prices. And Michael Masters says the U.S. Department of Energy's own statistics show that if the markets had been working properly, the price of oil should have been going down, not up.
Quote:
It's impossible to tell exactly who was buying and selling all those oil contracts because most of the trading is now conducted in secret, with no public scrutiny or government oversight. Over time, the big Wall Street banks were allowed to buy and sell as many oil contracts as they wanted for their clients, circumventing regulations intended to limit speculation. And in 2000, Congress effectively deregulated the futures market, granting exemptions for complicated derivative investments called oil swaps, as well as electronic trading on private exchanges.
In the Commodities market, prices really go only one way, up.
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  #93 (permalink)  
Old 04-17-2011, 08:18 AM
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Quote: Originally Posted by edthecynic View Post
Quote: Originally Posted by bigrebnc1775 View Post
It seems as if gas started going up after obama was sworn into office

U.S. Retail Gasoline Prices
Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!
Strange how the current spike coincides almost precisely with the Deepwater drilling disaster spawned drilling moratorium and the first rigs leaving the Gulf to go to Egypt and Brazil. Whoopsie!
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  #94 (permalink)  
Old 04-17-2011, 08:26 AM
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Quote: Originally Posted by Big Fitz View Post
Quote: Originally Posted by edthecynic View Post
Quote: Originally Posted by bigrebnc1775 View Post
It seems as if gas started going up after obama was sworn into office

U.S. Retail Gasoline Prices
Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!
Strange how the current spike coincides almost precisely with the Deepwater drilling disaster spawned drilling moratorium and the first rigs leaving the Gulf to go to Egypt and Brazil. Whoopsie!
Good call I didn't think about that
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Old 04-17-2011, 09:27 AM
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Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by edthecynic View Post
Quote: Originally Posted by bigrebnc1775 View Post
There's the graph calling you a liar.

The price went 1.60 a gallon to 2.70 in less than a year in 2009 and that's fairly flat to you?
Except I said a YEAR AND A HALF before the GOP took over!!!
Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!!
Thats horseshit fairly fllat is level and does not rise
from 6/6/09 until 6/6/10 gas prices rose 20 cent's a gallon
That is not defined as flat
And no where on the graph did the price show 3 to 4.50 price jump. that is a lie.
20 cents over a full year is a lot flatter than $1.50 in 4 months. And the chart is not up to date. In many places across the country gas in over $4.50 a gallon today.
Try to keep up!
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Old 04-17-2011, 09:36 AM
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Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by Big Fitz View Post
Quote: Originally Posted by edthecynic View Post
Actually, the price was fairly flat for the year and a half before the GOP took congress and then went straight up after they took over!!!!!
Thanks a lot, Crybaby Boner!!!
Strange how the current spike coincides almost precisely with the Deepwater drilling disaster spawned drilling moratorium and the first rigs leaving the Gulf to go to Egypt and Brazil. Whoopsie!
Good call I didn't think about that
Obviously neither of you gave that crap much thought. The Deepwater spill and ban was a year ago and lifted in October, during the flat period.

If you really were honest, the spike at the end of the graph more closely corresponds to the first deep water permit being approved in Feb 2011.
WOOPSIE!!!!!
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Old 04-17-2011, 09:41 AM
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Quote: Originally Posted by edthecynic View Post
Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by edthecynic View Post
Except I said a YEAR AND A HALF before the GOP took over!!!
Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!!
Thats horseshit fairly fllat is level and does not rise
from 6/6/09 until 6/6/10 gas prices rose 20 cent's a gallon
That is not defined as flat
And no where on the graph did the price show 3 to 4.50 price jump. that is a lie.
20 cents over a full year is a lot flatter than $1.50 in 4 months. And the chart is not up to date. In many places across the country gas in over $4.50 a gallon today.
Try to keep up!
You lied when you said gas Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!! according to the graph what is the highest gas has went to?

Quote:
In many places across the country gas in over $4.50 a gallon today.
Link or the only reply you will get from me is liar
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  #98 (permalink)  
Old 04-17-2011, 10:36 AM
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Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by edthecynic View Post
Quote: Originally Posted by bigrebnc1775 View Post

Thats horseshit fairly fllat is level and does not rise
from 6/6/09 until 6/6/10 gas prices rose 20 cent's a gallon
That is not defined as flat
And no where on the graph did the price show 3 to 4.50 price jump. that is a lie.
20 cents over a full year is a lot flatter than $1.50 in 4 months. And the chart is not up to date. In many places across the country gas in over $4.50 a gallon today.
Try to keep up!
You lied when you said gas Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!! according to the graph what is the highest gas has went to?

Quote:
In many places across the country gas in over $4.50 a gallon today.
Link or the only reply you will get from me is liar
Too lazy to google, so typical.
It was all over the local news here that regular gas was over $4.50 in NYC. They reported it was even higher in Connecticut.

Price- $4.66
Station- Mobil
Area- 70 10th Ave & W 14th St
Manhattan
19 hours ago
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  #99 (permalink)  
Old 04-17-2011, 10:38 AM
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No wonder the President called for R&D and made investments to get us off of our addiction to oil. Your point?
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Old 04-17-2011, 10:46 AM
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Quote: Originally Posted by edthecynic View Post
Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by edthecynic View Post
20 cents over a full year is a lot flatter than $1.50 in 4 months. And the chart is not up to date. In many places across the country gas in over $4.50 a gallon today.
Try to keep up!
You lied when you said gas Gas has gone from about $3 to over $4.50 in the less than 4 months since the GOP took the House!!!! according to the graph what is the highest gas has went to?

Quote:
In many places across the country gas in over $4.50 a gallon today.
Link or the only reply you will get from me is liar
Too lazy to google, so typical.
It was all over the local news here that regular gas was over $4.50 in NYC. They reported it was even higher in Connecticut.

Price- $4.66
Station- Mobil
Area- 70 10th Ave & W 14th St
Manhattan
19 hours ago
Since when is one place many places?
Quote:
In many places across the country gas in over $4.50 a gallon today.
OH and Manhatta isn't it located in the over taxed state of New York? Yes I think it is a large protion of that gas is taxed way to much but do try again.

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  #101 (permalink)  
Old 04-17-2011, 05:18 PM
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Quote: Originally Posted by edthecynic View Post
Quote: Originally Posted by bigrebnc1775 View Post
Quote: Originally Posted by Big Fitz View Post
Strange how the current spike coincides almost precisely with the Deepwater drilling disaster spawned drilling moratorium and the first rigs leaving the Gulf to go to Egypt and Brazil. Whoopsie!
Good call I didn't think about that
Obviously neither of you gave that crap much thought. The Deepwater spill and ban was a year ago and lifted in October, during the flat period.

If you really were honest, the spike at the end of the graph more closely corresponds to the first deep water permit being approved in Feb 2011.
WOOPSIE!!!!!
Really? lifted eh? Before or after the drill rigs left and won't come back for years? Of course we're not to notice that means any lifted ban is useless if the equipment is already gone to more amenable areas. All those rigs are offline and in transit in many cases, drilling for new wells in the Mediterranean and off the cost of Brazil making money for George Soros and Petrobras.

And like most things out of this administration, it's a partial lie.

Gulf drilling ban lifted

Quote:
WASHINGTON — The Obama administration on Tuesday lifted the moratorium on deepwater exploratory oil drilling in the Gulf of Mexico — provided companies follow new safety rules.
So it's 'lifted' but here's the new rules to play with and cost you lots of money and time to implement.

Quote:
Interior had earlier warned that even when the ban is lifted, drilling is unlikely to resume quickly because of the need for more inspections and compliance with new regulations.
Michael Bromwich, head of Interior's Bureau of Ocean Energy Management, said it would take "at least a couple of weeks" before permits are approved.
And we know how fast this government moves to take care of evil energy capitalists. Never waste a crisis, after all. A federal judge ordered it lifted in June. It took till October for "Brackets" Obama to obey.

And the steep spike corresponds nearly exactly with middle east unrest.
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Old 04-17-2011, 05:31 PM
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Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by Baruch Menachem View Post
On what basis will gas be that expensive?
We have to have a recovery don't we?

Everyone pretty much already spends all they amke so the only way is to increase prices on things they already buy.
Why do you think there will be a recovery? Do you know something we don't? Please share.

I thing the worse is yet to come. I haven't seen one thing that points to any "real" improvement in the economy. I think gas will be eight dollars per gallon by November of 2012. The effects of the falling dollar and energy cost will destroy this economy. How long was the Great Depression? This one is going to be worst and going to last longer.
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Old 04-17-2011, 06:33 PM
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Quote: Originally Posted by Mr Liberty View Post
Quote: Originally Posted by uscitizen View Post
Quote: Originally Posted by Baruch Menachem View Post
On what basis will gas be that expensive?
We have to have a recovery don't we?

Everyone pretty much already spends all they amke so the only way is to increase prices on things they already buy.
Why do you think there will be a recovery? Do you know something we don't? Please share.

I thing the worse is yet to come. I haven't seen one thing that points to any "real" improvement in the economy. I think gas will be eight dollars per gallon by November of 2012. The effects of the falling dollar and energy cost will destroy this economy. How long was the Great Depression? This one is going to be worst and going to last longer.
now now... it's not assured to last longer. It all depends what the next administration is going to do. Will they help the conservative house bust the entitlement society, rolling back the New Deal and Great Society, finally? Or play more Paygo to the Weimar Republic?

The depression of 1920 was short and sharp. It would have been worse if not for the Harding/Coolidge administrations cutting government spending by 50% across the board. We make similar sacrifices and we will recover faster than you can say 'Ding Dong Socialism's Dead".
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Old 04-17-2011, 06:47 PM
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Quote: Originally Posted by Big Fitz View Post
Quote: Originally Posted by Mr Liberty View Post
Quote: Originally Posted by uscitizen View Post

We have to have a recovery don't we?

Everyone pretty much already spends all they amke so the only way is to increase prices on things they already buy.
Why do you think there will be a recovery? Do you know something we don't? Please share.

I thing the worse is yet to come. I haven't seen one thing that points to any "real" improvement in the economy. I think gas will be eight dollars per gallon by November of 2012. The effects of the falling dollar and energy cost will destroy this economy. How long was the Great Depression? This one is going to be worst and going to last longer.
now now... it's not assured to last longer. It all depends what the next administration is going to do. Will they help the conservative house bust the entitlement society, rolling back the New Deal and Great Society, finally? Or play more Paygo to the Weimar Republic?

The depression of 1920 was short and sharp. It would have been worse if not for the Harding/Coolidge administrations cutting government spending by 50% across the board. We make similar sacrifices and we will recover faster than you can say 'Ding Dong Socialism's Dead".
I agree; however I don't see the will to change anything in Washington. They fought for a measly 30B. If they are going to fight over funds for Planned Parenthood, how do you expect them to make the massive cuts necessary to save us. The debasing of our currency continues without concern. The criminal Bernanke lies when he says inflation is not an immediate threat. When they print money they are stealing from all of us.
I hate being on the side of doom and gloom; however, I see nothing to be optimistic about.
I think gas will rise to eight dollars by November of 2012. The market may crash this summer and will crash by Christmas.
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Old 04-17-2011, 07:04 PM
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Quote: Originally Posted by edthecynic View Post
Obviously neither of you gave that crap much thought. The Deepwater spill and ban was a year ago and lifted in October, during the flat period.

If you really were honest, the spike at the end of the graph more closely corresponds to the first deep water permit being approved in Feb 2011.
WOOPSIE!!!!!
Lifted? If you only knew what you are talking about.

Drilling Delays Inspire New Proposal to Reform Permitting Process

Two Republican lawmakers have developed a plan they hope will put pressure on the Obama administration to speed up the permitting process for offshore drilling in the Gulf of Mexico.

Reps. Bill Flores (R-TX) and Jeff Landry (R-LA) introduced legislation to codify timeliness of permitting process by establishing stringent deadlines and clear requirements on drilling applications. Leaseholders would even be able to request a refund on their bonus bid if the Department of Interior rejects an application.

The goal is to finally end the de facto drilling moratorium, which was the subject of Wednesday’s hearing of the House Natural Resources Committee.

“The Expedited Offshore Permitting Act aims to increase American energy production and reverse the Obama administration’s reckless anti-energy policies that are costing thousands of jobs, driving up gasoline prices and increasing uncertainty in the marketplace,” Flores said.

The legislation comes on the heels of conflicting information from the Obama administration on the number of permits currently pending. Interior Secretary Ken Salazar testified that seven deepwater permits and 47 shallow-water permits have been submitted in the past nine months.

But in a recent court filing, the Department of Justice produced much larger numbers: 57 deepwater applications and 270 shallow-water drilling permits.

By establishing a timeline for drilling permits, Congress would force an end to the bureaucratic quagmire at the Department of Interior. Administration officials have defended the delays as a safety measure in the wake of last year’s oil spill.

Yesterday’s hearing featured Scott Angelle, secretary of the Louisiana Department of Natural Resources. Angelle spoke about the hardships his state has witnessed due to the delays. He called for “regulation without strangulation” and related how the uncertainty fostered by the Obama administration has dire economic effects for the Gulf of Mexico region

Drilling Delays Inspire New Proposal to Reform Permitting Process | The Foundry: Conservative Policy News.
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