Gas up 30 cents today....on our way to recovery!

Is it finally here? Inflation and staggering prices at the pump?

I was happy to find that gas went up 30 cents from this morning. All in one day. Awesome.

I can't wait till it goes back to 4.00 a gallon. That will do the economy good..along with all of the other rises in prices.

Any recovery the economy has is going to be stifled by rising prices. It's great to see all the rich bastards on television SAY NOTHING about coming inflation when the people just now scraping by are going to be in massive trouble when the prices go even higher.


Man....i'm in a bad freakin mood today...lol.

Too much BS in a short amount of time.

reply to post by David9176


You are not alone. I've been noticing the obnoxious increase for the past few weeks, approximately 10 cents a week I would say. It makes me want to punch someone in the throat! Not to mention that oil prices are still holding close to $60 USD a barrel. I mean for real, what do they take us for? What can we do though? Most of us are middle class people that have to drive to work. Ughhhhhhh, I want to break stuff today.

Hey guys, I am sorry I can't relate this to US prices cause I don't know how they moved for you guys... but check this out.

I remember in the 90's there was a point when we were getting fuel for 29cents a liter. It went up to 50-60cents for many years after that.

Then we had the high gas prices of not to long ago, and this is whats weird.

Oil went to $150 a barrel.
Gas went to $1.50 a liter

Oil went back down to $40 (less than 1/3 of previous)
Gas went to $1.00 ....


Does anyone see whats wrong with that picture? Oil drops to over 1/3 of what it was, yet the price of gas at the pump only drops one third? Yet noone was mad about it anymore.

Ahhh TPTB thank their god daily for the extremely short memory span of the cattle.

[edit on 26-5-2009 by king9072]

reply to post by jackieps1975


The middle class can't handle 4.00 a gallon again. It can't. High gas prices helped bring us to where we are now in the first place.

I agree...nothing ticks me off more then busting my ass at work all day and then driving by the gas pump and seeing that it jumped that much in a matter of hours.

Investors are chomping at the bit for a recovery so they can get the price of oil back up...the problem is...when it goes up.....we are hurt more.

A struggling economy cannot handle this.

Cripes.

I had just mentioned this to my wife the other day. Funny how we've seen gas prices creeping back up there (30-40 cents in the past 2 weeks alone).... JUST in time for the summer/vacation/traveling season.

... wouldn't be the least bit surprised to see $3+/gal by mid July - just in time. :shk:

The common man or woman can't win in our system of economicxs, they got to milk us for everything we got. It's like giving a cow a cup of water, and then trying to extract a cup and a half of milk.

We are being milked hard.

For those of us that have jobs, any pay raise we get gets taxed harder and is eaten by inflation and year after year we have less money.

And the few rich folks keep getting all the milk. They bathe in it!

Our teats are dry, oh wait, theres a drop, didn't even hit the pail!

reply to post by David9176


Some of us knew it was coming but seeing the gas prices shoot up in a matter of hours is still shocking. Yep. Th previous $4.00/gal unleaded soon will reach double-digits - along with everything else. Its most definitely not good. Prices here went from $2.24 to $2.69 in one day.

Wasn't it nice of them to wait until after the holiday weekend to spike the prices?

reply to post by king9072


Yeah, wish it worked like that, unfortunately it does not.

Its due to about 1000 factors, none that I could say I am fluent in.

reply to post by David9176


I noticed this as well, filled up for $2.36 yesterday, woke up today and it was $2.65! I couldn't believe it. Is this the beginning of inflation?

Just about time for another stimulus check to help out with all the increased expenses. Hopefully, this time they will be just as generous to the taxpayers as they are with the companies.

reply to post by David9176


grrrrrrrr! How evil! I don't know where you're from but I live in NY, in the suburbs, about 1.5 hours from NYC. Now the thing about this area is that EVERYONE has to commute. I have a 40 minute drive down county and my husband has to go into the city. When gas was $4.00 + a gallon, we we dropping about $400-500 a week on gas. A WEEK! I think prices here got just below $5 when it was real bad. I mean, talk about blatantly raping people. Disgusting. Then the relief we felt when it finally dropped to $2, it was great (but it should have been lower based on barrel prices, as we all know)! Now we are heading for yet another s**t storm. I mean, the barrel price has barely moved. It is so frustrating. What can common people really do though without completely disrupting our lives. We NEED fuel!!!

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[edit on 26-5-2009 by jackieps1975]

My girlfriend and I were talking about this yesterday while planning our summer vacation. We have decided that we will spend it at home this year due to the gas prices. We're struggling as it is but wanted to take the kids somewhere fun and this will just ruin it. Oh well, I guess TPTB want to make sure tourism is down this summer.

Just how much profit is enough? It's really sad when people can't even afford to GO to work.

I'm in Michigan....the leader of unemployment in the US!

It's a great honor...and only to get better after GM goes banky.

Many people have to commute for the higher pay...but can't afford to actually live in the city because the cost of living is higher.

I know inflation is going to nail us...it's inevitable....but is it really hitting this soon?

Fricking government! War, debt, taxes, inflation....AHHH!!!

We all need to kick some serious ass in government because i'm tired of having mine handed to me.

Revolution anyone?

Just when we thought some of us might be able to have a brief getaway this summer, there goes that idea . I saw that someone posted about that. It's so wrong. How come it's the working class getting hit over and over again?? Those of us that have to save all year round to have a little bit of fun........ I am so sick of it. I wish there were enough of us to REALLY do something. Sad thing is, most people will just complain, suck it up and continue to muddle along. I don't really want to be the only 'weird chick' holding a sign, marching in my little hick town but that's how it's shaping up......

Originally posted by GreenBicMan
reply to post by king9072

 

Yeah, wish it worked like that, unfortunately it does not.

Its due to about 1000 factors, none that I could say I am fluent in.

A lot of the price increase is because oil companies have significantly decreased production, lifting costs have gone way up lately yet what the oil companies get it for is a lot less than the middle men resell it for. Remember $40 per barel is what it costs to buy it on the commodity market. I have seen lifting cost numbers for a bunch of fields lately (lifting cost is the price per barrel to get it out of ground and to market). The best ones are in the $12-18/barrel range. The worst is above $30 per barrel.

Commodities trading was supposed level out the market fluctuations but it seems to make them worse and discourage new production.

I think part of the timing is everyone who was going to actually drill this year has finalized the decision to not drill. It's been less than 6 weeks since the end of the drill and construction season in Alaska and northern Canada (they only work when the ground is frozen in many areas).

I have a theory for you to all ponder. I'll lay it out in point form.

1) Demand for oil and gas increases over a period.

2) Oil and Gas (O&G) Companies drill more wells. New wells produce more but have higher lifting costs because they have all the capital expenses involved.

3) Costs are raised artifically

4) Economy tanks

5) Demand for O&G crash

6) Lifting costs stay high on the new wells.

7) The banks start calling in all the loans and lines of credit (LOC) the O&G companies used pay for the huge capital cost of putting in new wells and infrastructure.

8) Some O&G companies (mostly Trusts less than 10 years old) are suddenly facing huge increases in operating costs, increased taxation, decreased sales at lower prices. Many of these Trusts are now borrowing money from the LOC to pay the interest on the LOC.

9) The estimate is that if prices stay below $65-75 per barrel we will see 40-50% of all the trusts go under and their assets picked up cheaply by the biggest companies.


10) It's worse for Gas (natural not gasoline) producers as prices stayed artifically low since last fall. This is partly caused by the huge amounts of Natural gas being dumped on the world market below cost by the Russians, Chinese and Venezualians. It would be even worse but an accident at the new Chinese loading facility 2 months ago trashed it other wise they would have been able to triple the amount of Natural Gas they are shipping out of China.

What can we do about this? I am so tired of us being held hostage. TPTB are counting on us not being able to do anything. It's not like we can totally boycott fuel. We have to go to work. Products have to be trucked in. Very frustrating.

Originally posted by jackieps1975
I mean, talk about blatantly raping people. Disgusting. Then the relief we felt when it finally dropped to $2, it was great (but it should have been lower based on barrel prices, as we all know)! Now we are heading for yet another s**t storm. I mean, the barrel price has barely moved. It is so frustrating. What can common people really do though without completely disrupting our lives. We NEED fuel!!!

Actually look at the numbers of barrels produced in NA and also what is imported. One of the biggest problems is refining capacity. The US has built no new refineries since the early 70's. They have 'upgraded' some in the 80's and 90's but no new ones. The Canadians have had no new ones since the 80's.

Our population and fuel demands have increased but our supply of refined fuel (vs oil) has decreased. There have been a number of attemptes to build new refineries but they always get bogged down in court cases by enviromental groups. It's funny that according to public tax returns many of the same companies that own existing refineries are the biggest financial backers to the same enviromental groups blocking any new competitors from entering the playing field.

I don't believe there is increased demand to support the increase in prices nor do I believe that the refineries are the problem. People are losing their jobs by the millions in this country, money is getting tighter and tighter and we are spending less on frivolous expenditures. Groceries, home improvement and survival are all doing extraordinarily well.

Connect the real dots to see the complete picture. There will be deliberate increased pressure put squarely upon every single aspect of our lives until we either break or fight back.