Article

2012-03-03 Economy

US gasoline prices rise for 24th straight day

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Posted by Fred 2012-03-03 00:00|| || Front Page|| [2 views ] Top

#1 Public transportation and church buses will enable urban dwellers to reach the polls in November. Remember, these are the people that count!

Posted by Besoeker 2012-03-03 02:36|| 2012-03-03 02:36|| Front Page Top

#2 Gas prices are going up in spite of lower demand in the USA because the US is exporting so much gasoline that the domestic supply is being impacted. Lower supply --> higher prices.

Isn't globalization great?

Posted by Mike Ramsey 2012-03-03 08:19|| 2012-03-03 08:19|| Front Page Top

#3 One of the main reasons for this inflation is the unprecedented printing of money. That's a text book method, to inflate the money supply defates the value of the money and causes prices to rise. Gas prices as a valued in other commodities (like food) have not increased all that much.

ALL prices of consumables (ie short term) have gone up due to this administrations ungodly money printing (aka QE I, II, III etc.)

Posted by AlanC 2012-03-03 09:35|| 2012-03-03 09:35|| Front Page Top

#4
Who benefits from higher gasoline prices?

a. The administration benefits as oil company and investor earnings rise and taxes increase.

b. The administration benefits as pressure builds to replace government oil and gas exploration subsidies with windfall profits.

c. The administration benefit as production and delivery costs increases for food and durable goods which creates additional tax revenue from consumers.

d. The administration benefits as oil speculation rules are adjusted and gasoline prices fall in the weeks and months leading up to Election Day.

e. OPEC benefits as the price of their crude oil is artificially elevated.

f. Terrorist rogue nations benefit as America's strategic reserves are depleted in order to provide temporary price relief.

g. The administration benefits as strategic reserves are replenished during periods of crude oil price deflation. (buy low - sell high)

h. Urban real estate speculators and developers benefit as workers move away from bedroom communities and into urban environments to avoid costly commutes.

i. Airlines realize short-term benefits as higher ticketing prices are levied against lower priced fuel contracts.

j. The administration benefits as highter airline ticket prices produce additional sales tax income.

k. Green energy investors and speculators benefit as carbon energy and combustion engine use is strangled.

l. The administration benefits as untapped off-shore leases owned by the government increase in value.

m. The administration benefits as inflation rises, the value of the dollar falls, debt interest and repayment are facilitated.

n. The administration benefits as oil companies, big business, and Wall Street are seen as evil villans in need of harnessing or outright nationalization by government.

...and so it goes.

Posted by Besoeker 2012-03-03 10:29|| 2012-03-03 10:29|| Front Page Top

#5 AlanC yes. I think possibly another plan is in the works. I believe another QE3 will be sprung at the best possible time to save Obama's bacon. We should see summer gas prices go up even more. I understand this is putting the hurts to the spring break crowd already. Suburban housing also should continue value downward trend. The construction trades should also be hurt. Then again at the right time gas prices will drop. So they can say ,see our programs are working. The people that support Obama believe "he is the best man for the job". That "he hasn't been given a chance". That "things were so bad when he became president" he will need "four more years at least".We have a third world leader. The Constitution means nothing to him.

Posted by Dale 2012-03-03 10:41|| 2012-03-03 10:41|| Front Page Top

#6 For those opposed to globalisation, fuel would cost a hell of a lot more with no imports of it.

Posted by Bright Pebbles 2012-03-03 16:55|| 2012-03-03 16:55|| Front Page Top

#7 Any of you folks have any idea why the last 3 data point on this chart are outliers? Specifically: it appears that deliveries of retail gasoline by US refiners took a sudden 25% drop 3 months ago and have held roughly steady at this level since.

Did we lose that much refining capacity overnight?

Posted by AzCat 2012-03-03 21:26|| 2012-03-03 21:26|| Front Page Top

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