NEWS: Gas Expected to pass $4/Gallon Soon, page 1
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ATS Members have flagged this thread 7 times
Topic started on 31-8-2005 @ 07:25 PM by elderban
"In the wake of Katrina", or so we are told, gas prices are expected to reach and surpass $4 per gallon soon.




money.cnn.com
Consumers can expect retail gas prices to rise to $4 a gallon soon, but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.

"There's no question gas will hit $4 a gallon," Ben Brockwell, director of pricing at the Oil Price Information Service, said. "The question is how high will it go and how long will it last?"


Please visit the link provided for the complete story.


I think it's time that the leaders of this great nation, including our local and state leaders, put their collective foot down on gas prices. I think every state should put a cap on gas prices. It's starting to get reduculous.

What I don't understand is that if gas prices are so high, why are oil companies showing RECORD PROFITS?

For example:

Exxon said "net income totaled $7.86 billion, or $1.22 a share, up 44% from $5.44 billion, or 83 cents a share, a year earlier." Additionally, they're looking at what to do with the $40 BILLION windfall they have.

Shell reported a 40% increase in profits, totaling more than $6.8 BILLION.

ConocoPhillips, the nation’s third-largest oil and gas company, said that FIRST-QUARTER earnings soared year-over-year on high oil prices…. Total revenue was $38.9 billion, up from $30.2 billion last year".

(Not to mention the billions that were tucked into the energy bill)

Since they have these humonguus windfalls, why don't they turn around and give these back to the people "in the wake of Katrina" in savings at the pump? Doubt that will ever happen though.

Related News Links:
www.10tv.com
www.nydailynews.com
www.canada.com
today.reuters.com


reply posted on 1-9-2005 @ 08:48 AM by Timcouchfanclub

I hope gas prices continue to climb even higher than $4 a gal.


Hey thanks Seekerof. Appreciate the support. I would rather not see gas get that high only because $4 will be the threshold. It is when the bottom will drop out of the economy. There will be MAJOR spending changes.

I am sure that the rest of the World will be happy when the largest importer of goods has dramatically changed its spending habits.

Also, since we have the largest buying power (I don't know how having a large budget deficit) we will go other places to get oil. We always find a way.

When there is a dramatic change in our economy the rest of the world feels it to.




The way to make gas go down is very simple. All you have to do is not buy gas for three days. It has to be everyone around the world or atleast in the country that it needs to go down in. I think that if everyone just didn't buy gas for three days the price would drop and if it went back up everyone just not buy it again untill it drops


That would be cool. Acutally I might agree to that except for the fact that millions of dollars would be lost with companies that need oil/gas to work. It would effect peoples daily lives and jobs...even if it is only for three days. Plus three days may not change the price that much. In order to really ensure lower prices for oil we take a year and not buy oil for any consumption but only to stockpile. But we all know that could never happen.

[edit on 1-9-2005 by Timcouchfanclub]

[edit on 1-9-2005 by Timcouchfanclub]


reply posted on 1-9-2005 @ 09:09 AM by astrocreep
is that its not only the gas guzzling Hummer drivers that will be affected by this. If it were, me and my little Escort would be happy as we could be but there is another side to it folks.

You may ride your bike downtown and be spared the price of fuel. I don't blame you. I love riding my bike and just put a new Schwinn in layaway.

But, how will you feel when you park your bike, walk into the store and discover a gallon of milk is 10 dollars, a loaf of bread 8 dollars, and you local starbuck's coffee is 12 dollars a cup? Thats the thing I hate about these extremist who only seek to punish people they think have it coming because they have worked and earned more in life. Everything that hurts them hurts us all. Wake up morons, those trucks burn ten times the fuel as the SUVs do to bring your groceries to you. The price of fuel will reflect in every service we have from food supply to utilities to emergency and medical services. Most ambulance companies I know of already operate close to the red and pay minimum wage anyway. Most will go out of business because they can't seem to transport patients on bikes.

I don't mind to park my Jeep and drive my Scort. I like to save miles on it anyway but it really doesn't help me much if I can't afford groceries once I get there.

I think a good idea would be to let non-commercial travelers bare the brunt and give over the road haulers a break if the price of groceries stay low. Those of us who live rural and have long commutes should not punish those who do not. I can pay 4 bucks per gallon if supplies and utilities stay reasonable. I want to go on record as saying that I do not not think this storm or any crisis which we were told existed before hand is the reason for this hike. Its purely a profit scheme making those oil shieks and oil barrons richer by the minute. They are raping us and I accuse they were actually glad to see Katrina because it gave them an excuse to stick to us.

Most of their refineries will be rebuilt by insurance policies and they still pass off the cost they they never will incur to us.
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