Oil hits a high some in U.S. see $4 gas by spring »
Posted By not2needy 1 year, 8 months ago in Business & FinanceGasoline prices, which for months lagged the big run-up in the price of oil, are suddenly rising quickly, with some experts fearing they could hit $4 a gallon by spring. Diesel is hitting new records daily and oil closed at an all-time high on Tuesday of $100.88 a barrel.
Read Full Story at iht.com »
153 Views Share Story 25 Comments Report
Submitted By:
not2needy
Hi And Welcome
I am a Christian, Wife, Mother of one son, Liberal, and retired social worker. I enjoy my computer, gardening, reading, cooking and ...
Other Related Articles:
Why not submit a story?
RSS Join the Discussion
+ Add CommentComments So Far: 67 (view all)
-
Neutral
not2needy1 year, 8 months ago
This comment is below the standard viewing threshold View It »
FTA:
The increases could not come at a worse time for the economy. With growth slowing, high energy prices that were once easily absorbed by consumers are now more likely to act as a drag on household budgets, leaving people with less money to spend elsewhere. These costs could exacerbate the nation's economic woes, piling a fresh energy shock on top of the turmoil in credit and housing.
I guess 11 billion isn't enough of a profit for Exxon, and they are definitely making hay while the sun shines, taking full advantage of our govt allowing them to walk all over us.
Reply-
Neutral
dandt16121 year, 8 months ago
This comment is below the standard viewing threshold View It »
I agree, times are going to get even tougher.
I just saw on CNN where oil has gone over $103. a barrel.
Bush said yesterday that he hadn't heard that gas would probably go to $4.00 and over for a gallon of gas. I'd like to know what planet he is on.? Gosh he is a JOKE.
Reply
-
-
Neutral
Will13131 year, 8 months ago
This comment is below the standard viewing threshold View It »
The administration had paid back their backers.... probably more than ever imagined.. Bush / Cheney will certainly be in the OILMAN'S HALL OF FAME....
Invasion of Iran would be the real topper.. disrupt oil flow to the entire world....
Reply-
-
baddad59Comment removed: Retracted by user
-
-
Neutral
texangelwings1 year, 8 months ago
This comment is below the standard viewing threshold View It »
While the profits are raked in by people who already have more money than anyone would need, to be comfortable and healthy, these trolls are charging us more!
The rising prices is one reason why I sold my pickup truck last year, I miss my pickup truck..:( My pacifica gets 21 mpg and is almost paid off. I need to start looking for a car that gets better gas mileage! I like the mini-cooper, but don't know about the gas mileage.
The gasoline pumps here are now supplying a mix of gasoline and ethanol. The prices are not any cheaper with the ethanol added to the gasoline!
Good article, thanks not2needy!
Reply-
Neutral
not2needy1 year, 8 months ago
This comment is below the standard viewing threshold View It »
I know tex. My son just bought a new Ford Sports-Trac, and is already asking to borrow my Cavalier because of the gas prices. It's a shame, and really all the more reason to elect a president who has no ties to big oil companies, or lobbyists.
Reply -
Neutral
GHOSTWHOWALKS1 year, 8 months ago
This comment is below the standard viewing threshold View It »
Here ya go Texas.
http://www.miniusa.com/#/learn/FACTS_FEATURES_S...
Reply -
Neutral
Xaos1 year, 8 months ago
This comment is below the standard viewing threshold View It »
I feel your pain, I am getting ready to trade my beloved F150 on a Dodge Cummins diesel. I already have a diesel powered car that I am running on biodiesel but alot of times I need a pickup. So I figured I would get a pickup that would run biodiesel. I can't stomach paying these kinds of prices.
Reply
-
-
-
Neutral
nikkibabe1 year, 8 months ago
This comment is below the standard viewing threshold View It »
Congratulations neo conservatives and Iraq invasion hawks.
Your crooks ruling DC created this fiasco by invading and occupying Iraq and stopping the flow of cheap oil Sadam was pumping under the "oil for food" program.
Saudis are happy (Bush business partners), Exxon Mobil is happy (Bush & Cheney oil lobby).
How much did these perpetrators bank roll?
May be John McCain can answer that question. He cannot just stand behind Bush & Cheney and smile showing that his dentures are in good shape!!!!!!!!!!!!!!!!!!!!!!!
Reply-
Neutral
Xaos1 year, 8 months ago
This comment is below the standard viewing threshold View It »
John Mccain's finical advisor is former senator Phil Gramm, he sponsored the Commodity Futures Modernization Act of 2000. That is the Act that has allowed prices to be manipulated the way they are today. Gramm was heavily backed by Enron. Nothing will change with a McCain presidency I fear to say.
Reply
-
-
-
-
Neutral
Xaos1 year, 8 months ago
This comment is below the standard viewing threshold View It »
Lets look at a few of the facts about high Energy prices;
U.S. Crude oil inventories are running near all time highs
Gasoline inventories are at 16-year highs
Demand is dropping due to a slowing economy
As of the fall of 2007 a glut existed in the natural gas market
Natural gas usage has been relatively flat over the last few decades
Prices in all energy markets are at record highs
Reply -
Neutral
Xaos1 year, 8 months ago
This comment is below the standard viewing threshold View It »
Ok, now a few more facts;
In late 2000 The Commodity Futures Modernization Act was signed into law (this bill was sponsored by then Senator Phil Gramm, who received extensive contributions from Enron) This act contained loopholes that could be used to manipulate the Commodity Futures Market.
In the last 7 years energy prices have increased by over 6 times
President Bush after taking office ordered that the Strategic Petroleum Reserve be brought to full capacity, in early 2007 he ordered that the capacity of the Strategic Petroleum Reserve be expanded.
Over the past 7 years the major U.S. Oil companies have broke profit records several times
Reply -
Neutral
Xaos1 year, 8 months ago
This comment is below the standard viewing threshold View It »
And some interesting stuff;
U.S. oil infrastructure has suffered at least 2 to 3 major incidents per year over the last several years (refineries blowing up, pipeline failures, etc) despite making record profits.
A large investment bank selling off their energy holdings sparked the sell-of responsible for the large drop in oil and gasoline prices in the fall of 2006.
Ethanol projects are going bust or folding before they ever get started due to high corn prices.
Senator Phil Gramm is John McCain's economic advisor.
Just a few tidbits to let everyone look at and think about, you can draw your own conclusions.
As far as my sources go I can provide them for any one who ask though it may take me some time to list them all.
Reply -
Neutral
fireman261 year, 8 months ago
This comment is below the standard viewing threshold View It »
PEOPLE
we are being screwed by big oil congress tried to
pass a bill but big oil blocked most of it should oil
be a commodity? something that controls so much of are economy be traded by a few? and exxons/mobile profits were alot higher then 10billion its more like 40billion for the year when is enough- enough unless we the people do something its going to get worst
Reply -
Neutral
Cityslicker1 year, 8 months ago
This comment is below the standard viewing threshold View It »
Oh man you took the story away from STONERS .
Gasoline is high and going to get higher , NO WAY , it's still a quarter ($.25) in Venezuela .
Talk all we want it solves nothing , even getting more fuel efficient cars will not help , if everyone drove cars that got 100 miles to the gallon , Oil Companies would raise the price to compensate for it . Lose , lose for us and win , win , for Big Oil .
Remember when Diesels enjoyed a price savings , the Environmentalist saw to it that ended , lobbing for cleaner Diesel Fuel which raised the price .
Three main groups to point fingers at , Environmentalist (who really work for Big Oil) , Commodity Traders , and of course Big Oil Companies .
Reply -
Neutral
NYlizardqueen1 year, 8 months ago
This comment is below the standard viewing threshold View It »
Why doesn't anyone in GVT step up to plate and help us? Why is it that we owe all this money to China, and we cannot have help here with oil? You notice no other country helps us out, yet the US GVT helps everyone else. Seriously what do the Elite care about us for? If he gets a profit off of EXXON/MOBILE, he wouldn't help a US citizen out, instead make his pocket wider with the greens, then my q to all of you Repubs out there is, why did you vote for him? Stop voting for Rich Repubs who want to ruin our economy system.
Reply -
Neutral
ghengisghan1 year, 8 months ago
This comment is below the standard viewing threshold View It »
WHATS THE PROBLEM? You liberals and treehuggers have for YEARS said we need to be paying 6 bucks a gallon like the EU countries...Oh yeah, thats right you meant "rich" people!Just like helping people, you help them with other peoples money.
Reply -
More News
Daily Finance
No daily Viagra dose, no peace! Philly transit workers rise up in protest
Why 10% jobless rate means misery for many, buying opportunity for some
Walmart slams lid on customers' creepy online reviews of its caskets
Massucci's Take: Google Wave is email for the next generation
Just how dangerous are stimulus-driven deficits in the long run?
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.