Gasoline At $3 A Gallon Could Kill Consumers

Gasoline At $3 A Gallon Could Kill Consumers

www.cnbc.com

Although most analysts expect we will not return to last summer's record-setting high levels, it seems gas prices will climb higher before they pull back. Crude oil is hitting six-month highs and much of the summer driving season still lies ahead.

But it may not take a return to last summer's $5 a gallon gas prices to destroy consumer demand, according to Global Hunter Securities Consumer Strategist Richard Hastings.

(visit the link for the full news article)

Could? More like would.

Anything that goes up in price will start seeing less and less sales. We know inflation is coming. It is truth now. It could come as early as Fall 09'

Now let us add that with increase in gas prices. Here we go:

Gas is suddenly 5.00 a gallon again, you consider making a milk powered car. Too bad you dont have the mechanical skills.
You need a new pair of shoes too! Now, which do you choose...
50$ for filling up your car or 80$ for new shoes.
You'll stick with the gas, because if you dont get to work you wont have money.
Your shoes can last another year. Duct Tape.

www.cnbc.com
(visit the link for the full news article)

Found this interesting article that charted the national prices for gas between 2003-2008. The peak was summer of 2008 at $4

flowingdata.com...

Hate him or love him, but Rush Limbaugh said this would happen.

I tried searching his archieves from last year, but cant remember the week and month he said it.

The gist of what he said was the gas prices rose last year to see where the line was before consumers started to raise a fuss. 4-5 dollars was the breaking point. He said next year gas will rise to 3-3.50 dollars and stay there.

Looks as if he is going to be proven right.

reply to post by jd140


And you know what else? I will bet you money there will be someone in here blundering on about how the high prices are Pres. Bush's fault.

A majority of the nation was so ready to blame Bush the first time this happened - well let's see what they have to say when it happens again with the messiah in office. Man, I am going to love seeing their heads explode when they can't blame it on Bush this time! It's almost going to be worth the high price of gas just to put those people in their rightful places.

[edit on 28-5-2009 by sos37]

Had the worst experience of the week today.... went and got gas. Up 0.40 cents from last week. 0.40 cents!!!!



It's going to hurt everyone, well those who are extremely rich are driving electric cars as expensive as they are they have tons of disposable income.....nancy....

If you wanted to blame this on bush I wouldn't mind, it could be his fault, he's a sneaky guy...

I'd expect 3-4 dollars minimum this summer, it's typical and good business for the oil companies and local gas stations, everyones driving, and such, boating, camping, road trips.

Still a gigantic squeeze on people, who have been taxed to death, gassed to death....etc.etc.etc.

And you know what else? I will bet you money there will be someone in here blundering on about how the high prices are Pres. Bush's fault.

Well let me be the first! It's easy to blame Bush. Why?

He let the debt climb to 9 trillion under his watch....and our currency will have to be inflated because of it. He started prescription drugs...add a few more trillion to that. How about the Unconstitutional Iraq war? How much has that cost us?

Yes...Obama has added heaps to it.

But to say Bush has no blame is ridiculous!

It's all of them...both parties and presidents...for decades that have led us to where we are right now.

Rush Limbaugh? He did nothing but repeat what others have already been saying...including me...and anyone else WITH A BRAIN. He's nothing but a blowhard corporate mouthpiece...along with the rest of the media that baits people into arguing over BS that most of the time doesn't matter.

Gas is $2.55 here. I remember a few weeks ago a lot of people were saying gas will not go above $2.50 for the whole summer. That has already been proven wrong....and it's going up fast. I bet we see at least three dollars a gallon this summer.

reply to post by Republican08


Yeah...I blew up 2 days ago when I noticed gas went up 30 cents in one day. I was so pissed I made a thread about it...Imagine that!

www.abovetopsecret.com...

Originally posted by Tentickles


Could? More like would.

Anything that goes up in price will start seeing less and less sales. We know inflation is coming. It is truth now. It could come as early as Fall 09'

Now let us add that with increase in gas prices. Here we go:

Gas is suddenly 5.00 a gallon again, you consider making a milk powered car. Too bad you dont have the mechanical skills.
You need a new pair of shoes too! Now, which do you choose...
50$ for filling up your car or 80$ for new shoes.
You'll stick with the gas, because if you dont get to work you wont have money.
Your shoes can last another year. Duct Tape.

www.cnbc.com
(visit the link for the full news article)

Hyperinflation is just around the corner.
bloomberg.com...
Marc Faber thinks hyperinflation in America could approach Zimbabwe's level (231 million percent!!!) but I just can't see it getting anywhere near that bad. When it kicks in everything we buy in America will cost two or three times more than it does now. Add to this the up and coming cap and trade of carbon emissions and you can see that we will all end up broke. Gas, food, clothing, heating and cooling our homes will all cost a lot more.
We are in big trouble in this country. But hey the MSM says the worst is over so why worry.

reply to post by David9176


Hold on David, you're not hearing me completely - the last time it went up to $4 a gallon, people blamed the gas rise SOLELY on Bush. That was an MSN poll which showed a clear majority believed the gas crisis was his fault and only his fault - not speculators, not OPEC, not the oil companies, but all BUSH.

So now on Obama's watch, when the same looks about to happen, are you going to continue to say this is Bush's fault and only Bush's fault? Does Obama get a pass? Or does the blame this time fall solely on OPEC? Remember, prior to the election there were SO MANY people polled (I heard many on talk radio) who actually made statements to the effect of "When Obama gets elected gas prices will go down". But gas prices dropped before the 2008 election happened.

reply to post by sos37


No one gets a pass. No one.

I will not defend anyone who has helped trash this country..whether it be Obama, Bush, or any other political mouthpiece that has bankrupted us.

Will there be people who will solely blame it on Bush? Of course...but he does get blame...lots of it.

Obama has done nothing to help matters though...to say the least. Massive spending when we are already over our heads in debt is hardly an answer.

Neither have been a protector of Constitutional rights...which both were sworn to defend.

Really I'm just tired of everyone saying well it's the other side that screwed things up and then ignore the argument against them.

Once people get beyond it and see that neither political party has done the hardworking American citizen any favors...then maybe...just maybe...we can make some frickin progress and get the country back on the right track.

Unfortunately they have screwed things up so badly that we will all pay a horrible price.

[edit on 28-5-2009 by David9176]

Originally posted by Erasurehead

Hyperinflation is just around the corner.
bloomberg.com...
Marc Faber thinks hyperinflation in America could approach Zimbabwe's level (231 million percent!!!) but I just can't see it getting anywhere near that bad. When it kicks in everything we buy in America will cost two or three times more than it does now. Add to this the up and coming cap and trade of carbon emissions and you can see that we will all end up broke. Gas, food, clothing, heating and cooling our homes will all cost a lot more.
We are in big trouble in this country. But hey the MSM says the worst is over so why worry.

It sounds unlikely. But the scary thing is, Marc Faber has really been right about everything. He calls rallies and crashes all of the time. Let's hope this does not happen. I feel like we will see oil at 30 dollars a barrel before 1 million dollars a barrel though.

reply to post by sos37


Due to circumstances by unavoidable causes, we are allowing Mr. Obama another 6 months before we can pass any judgement. Rightly so, people didn't start noticing Bush really till quite some time passed after 9.11

Not only the summer part I should add to inflated gas, but worries of more wars breaking out, fear of N. Korea, old Iran, and what not, will be surely manipulated to raise the cost of oil more.

Bush is quite an easy target albeit he wasn't the greatest president ever, I think it is hard to blame him foreverything, he's not the leader of Earth.

Those who think he is, are giving him to much credit!

The polls in this case mean nothing, Obama is holding the country in a certain direction more/so then alot of any other president, by controlling Automakers, taxes, gun laws, and bailout to the whole USA.

People are very afraid of the direction of the country, but Congress' approval rating has gone up since Obama got in, and his ranking is 60% steady.

Not surprising, it's like watching a movie you don't like the movie but d*mit the actor is good!

reply to post by David9176


Agreed all the parties are looking out for Numero Uno, themselves.

They don't care what we think or want, it's all of 2 questions.

1) How much are you going to pay me to vote in favor of this law?
2) Where is my bourbon?

Simple, and whilst there drinking and partying we are all at the gas pumps creating new cursewords.

reply to post by Tentickles

Duct Tape.

Heard the price of duct tape is going up to cover the cost of the increased transportation cost.

Don't worry, I am sure the Dems have a common sense approach to lower the price of gas as they did in 2006.

“Democrats have a commonsense plan to help bring down skyrocketing gas prices by cracking down on price gouging, rolling back the billions of dollars in taxpayer subsidies, tax breaks and royalty relief given to big oil and gas companies, and increasing production of alternative fuels.”

politics.moonagewebdream.com...

Of course, we all no that common sense plan never materialized.

Originally posted by David9176

And you know what else? I will bet you money there will be someone in here blundering on about how the high prices are Pres. Bush's fault.

Rush Limbaugh? He did nothing but repeat what others have already been saying...including me...and anyone else WITH A BRAIN. He's nothing but a blowhard corporate mouthpiece...along with the rest of the media that baits people into arguing over BS that most of the time doesn't matter.

Yeah I guess you would fall the "hate him" crowd.

Maybe instead of copying you he thought the same thing as you did? Maybe you two think alike more then you would care to admit. Thats easier to assume then him over hearing you say it and then repeating it.

Hes a blowhard but repeated what you thought and possibly said. What does that make you?

reply to post by jam321

I remember that plan. Pelosi wanted Bush to release several hundred million barrels from the government stockpile so it would lower gas prices by a few cents.

Yeah. That's going to help.

How about appointing a REAL commission that actually looks for the real cause of the price increase instead of conducting a witch hunt against the oil and gas companies?

How about implementing federal funds that would change over some of these refineries to natural gas refinement and also give American auto-makers a joint infusion of cash specifically to be used for the development of natural gas vehicles?

No, no. We would rather pour hundreds of BILLIONS into solar power research so that we can double our nations solar power usage in the next four year from 1% to 2% (Obama's own goal there).