$4 per gallon gasoline

[Mr VJP]

At the Pump. The price of gasoline in the U.S. is gradually  climbing and could rise to uncomfortably high levels, largely due to  inflated crude oil prices in the face of strong demand for gasoline.  Recent turmoil in Egypt could increase that upward pressure on crude  oil prices if it causes shipment disruptions through the Suez Canal.  Increasing access to oil reserves in the U.S., both onshore and  offshore, would not only help offset rising demand but also increase  jobs and stimulate the economy. A Heritage Foundation analysis found  that increasing domestic supply by 1 million barrels per day would  create an additional 128,000 jobs and generate $7.7 billion in economic  activity.[4]  The U.S. currently produces 5.3 million barrels of crude oil per day,  so producing an additional 1 million barrels per day would be a nearly  20 percent increase.

[nyantler]

The current administration has not even addressed this issue... high gas prices have a huge impact during these wounded economic times... I guess gas prices do not affect politicians that get driven or flown to and fro in limo's and private jets at the expence of tax payers. Maybe Obama will appoint a usless czar with a staff of 100 all making 2-3 times the current private sector average wage... and with an incentive of free health care and a huge pension plan they should be able to come up with a solution in the next 1000 years

[fasteddie]

Someone had sent me an e-mail some time ago that gave locations of known oil locations in the US where we have never drilled on shore . It said we have more oil than we could ever use . I had deleted it when I was cleaning up my mail . Has anyone heard of this before ? Could we have that much and if so why not drill ?

[NYDeer]

The middle of the country has 'oil shale'. Fractured rock saturated in oil, as compared to the free-er flowing, traditionally though of oil wells. At $30 a barrel, recovering the oil from the rock was cost prohibitive. At $100, it is profitable. Interesting thing is, the government ALREADY controls it all, so who's BSing who on the who's manipulating the oil supply?

Check this out-http://dailyreckoning.com/oil-shale-reserves/

The only 'going green' going on it the cash leaving the American citizens wallets one way or another..

[sweet old bill]

$5 by labor day may be he price for us suckers.

[ny hunter]

I heard the same thing 5 dollars by the end of the summer.

[Mr VJP]

If the price hits $4 per gallon soon, you will see the start of Great Depression II.  Prices of everything rise when fuel cost go up.  This economy could not handle those fuel prices.

It's scary we have a useless tool for President right now, who has no idea how to prevent the coming economic disaster, or provide any leadership.

[nyantler]

Wouldn't it be great to boycott gasoline for one weekend.. just a Saturday and Sunday where nobody drove a vehicle at all. That would be a huge wake up call for big oil...

[fasteddie]

I think part of the problem is the damn Media . They keep saying the price of gas is going through the ceiling . If people hear that enough , they accept it as fact and the rich , greedy gas companies jack up the price .

[G-Man]

Isn't the high gas prices the thing that started the crash of the economy remember the car clunker trade in?..would be ashame to have it crash again i don't think it can withstand much more of a rise in prices in its weakend condition....

[ny hunter]

Its like the public is just going with flow.I don't hear people moaning about gas prices anymore.They jusy pay it.I think thats the problem.I agree if we do not purchase gas for just a single day,that would be enough of a wake call to the giants in the gas industry.

[shu9265]

I don't know about the rest of you, but, here in the Niagara County area gas prices have gone up by almost $.50 per gallon in the past 2 months !

When I was watching the news, they said: "Gas prices have risen on the average of $.08 cents per gallon in the past 60 days"  What planet are these folks on ? ? ?

Back in the 70's we used to have a booming oil industry right here in the USA, then, some of the powers that be decided that we should stop most of the drilling and production here so we could ensure there would always be enough for US and use up everyone else's supplies.

Time for us to stop being abused by the politicians and take control of our future.

[Taz1300]

By no means am I an economist but I just don't understand how oil companies can report millions if not billions in profit and keep raising the price of gas. Maybe if some of these greedy ceo's take a small pay cut we could have reasonable prices and they can still make a profit. I guess thats just wishful thinking.

[sweet old bill]

IT CALLED THE FREE MARKET

[fasteddie]

Isn't the high gas prices the thing that started the crash of the economy remember the car clunker trade in?..would be ashame to have it crash again i don't think it can withstand much more of a rise in prices in its weakend condition....

The only thing the "Cash for Clunkers" did was to get a lot of Obama bumper stickers off the highways !  http://www.downsouthhuntingforums.com/images/smiles/2cents.gif[/img]

[Taz1300]

IT CALLED THE FREE MARKET

Hence the reason why we will all pay the 5 bucks a gallon and bitch about it. Corporations have us little guys by the balls!!

[hunter49]

I knew a guy that worked drilling oil & gas wells for 35 years & said they capped every 3rd well they dug for a reserve. Thats alot of wells in his 35 years in this U.S.!

[Doewhacker]

There is a reason why oil producing nations are the richest in the world. Not buying gas for a day or two will do nothing to the companies, because every one will buy gas the days before or the days after..oooo we showed them. Drive cars that are better on gas and carpool, there by reducing your need for gas over a long term and that will still only have a minimal impact. Lets not forget about how greedy NY is, I beleive we pay about .65 cents per gallon in taxes, that is alot! OPEC sets the pace and price and we all go along with it because we have no other choice.

We have already seen the prices rise over $4 a gallon once and we will again. As far as oil goes, it is in a lot products..ie plastic, styrofoam and so on. This is a bad spot for us, think of all of the packaging for the things we buy like food, its almost all in some form of plastic. So the point is when the price of oil goes up we suffer across the board and have been for a few years now.

As far as the comment about the "the start of a depression"...where have you been the last 5 or so years?

[Mr VJP]

I hate to say this Doewhacker, but when it comes to a depressed economy, you ain't seen nothing yet.  Things can get a whole lot worse than you have ever seen in your lifetime. 

And if things keep going the way they are, without any change in political direction, they will.

[Doewhacker]

I agree with you on this, every thing from wallstreet to government needs to change or we are truely doomed here. It seem like the economy has at least stalled out, its not getting better but its not getting rapidly worse at the moment. Of course that can change overnight.

[ny hunter]

People are just tired,Your right when you say its not getting worse,But because the public is so drained we seem to except anything.Which is why I feelthings are getting no better.......

[Doc]

OPEC sets the pace and price and we all go along with it because we have no other choice.

have an honest question ...... If the oil industry has such a complete stranglehold on market prices, and there is nothing we can do to affect demand in any meaningful way, how come we are still only paying three dollars and something for a gallon of gas. Why isn't it $20/gal or $50/gal? What is holding them back?

My sense of things is that you are exactly right about the price-fixing and the inability for us to exert any kind of pressure on gas prices. But there is still that nagging question of what on earth is restraining them to any extent. There must be some kind of political pressures being brought to bear on them, or something.

[Doewhacker]

I think the only thing keeping the price from going up is the fact that they know what the consumer is willing to pay. I almost think the last time when we saw the price at the pump go up it was a test to see just how far they could push the market before the consumer pushed back. All of a sudden the sale of bad mileage cars dropped and the average mpg went up, the price at the pump went down. Now people are going back to "normal" and the prices are going back up.Basiclly, if the price was to crazy they wouldnt sell any.

[Mr VJP]

I have always found it interesting that utilities, like electric, heating oil, natural gas and even telephone and cable rates are regulated by government.  The idea for heat and electric being they are necessities, with phone and cable being monopolies.

I can't live with out heat and electric, but I can't live without gasoline either.

As far as monopoly control by oil companies, Exxon/Mobil pretty much has the majority of the market and surely has the ability to fix prices.

I think it is about time gasoline becomes a regulated utility like heat and electric.

It is also a supply and demand issue as far as the price being charged.  Refineries are at max output now, and the eco-nazis won't allow new ones to be built.  Even if there was a glut of oil, only so much can be made into gasoline in a day.  It's about time the government start addressing the issue of supply.  We don't want to destroy the environment, but we need to live and prosper also.