Gas up 41 cents in ONE DAY.

I grabbed gas yesterday after work figuring it would go up as it did after Easter weekend...filling up for 3.78 a gallon. On my way home today it was 4.19. 41 cents in one day. (Michigan)

How is this possible? Oil speculation on wall street.

There is no way in hell demand went up over 10 percent one day. This is bs and it's about damn time someone in our government does something about it....but they won't....since a large portion of them are already bought by big oil.

Glad the top 5 oil companies made 36 billion the first quarter...but obviously they need more...and so do wall street speculators.

Anyway, I'm sure that the billions they make will create millions of jobs. Look at all the jobs that 36 billion created!

Very true.

Another point is when the prices of oil barrels go up the gas stores jack up the per gallon prices within hours. When the oil barrels drop back down it takes days for them to even lower the per gallon price a few cents.

It seems true that fuel poverty is coming to a town near us all** where ever we are
Tough times ahead..

**all meaning those of us not on bankers/CEO wages or getting billions in bailouts

Just got gas for my rental car at KCI airport in Missouri, and it was $3.719. It was pretty much the same in Denver also before the long weekend.

Not sure.

Was it an independently run store?! Maybe they are having personal issues and feel the need to take in more money asap before going bankrupt?!

Any ways, you just got a small look at what will soon be a reality for everyone. Peak conventional oil happened about 5 years ago, and peak energy is essentially already here.

Even if we transition to a newer energy technology, it will take ~2 decades, and civilization as we know it can't survive without major geopolitical instabilities in the process, and regional estate collapses. Pretty much already started at the beginning of the 21st century, but most we're trying to "party like rock-stars" and didn't bother to notice.

Decentralise, spread out, calm down, and evolve, people.

Here's a cool pdf I found the other day, that covers a bit of what's mentioned on this topic. It talks about conventional energy depletion, the implications this may have for civilization as we know it, and how we may be able to adapt without going all primal.

Permaculture

This is exactly why I ride a motorcycle that gets 65 miles to the gallon. I ride everyday that it's dry and above 50 degrees so there's only a small portion of the year the oil industry makes much of anything off of me.

reply to post by jjkenobi

Another point is when the prices of oil barrels go up the gas stores jack up the per gallon prices within hours. When the oil barrels drop back down it takes days for them to even lower the per gallon price a few cents.

Right...i heard yesterday that a barrel of oil went up a few dollars. Just checked where it is and it dropped to just over 100. Pretty insane seeing how a barrel of oil was over 140 dollars at nearly the same price before the great recession began. There was one gas station (out of 5) that hadn't gone up yet in the area I live. Needless to say there were huge lines at that gas station...people actually blocking off the road.

I don't know how some are making it right now. Sucks for everyone...well almost everyone...looks like it's working out great for a few!!!

Americans should walk more.

Driving is bad for the environment.

Went past 3 stations that inhabit the intersection near my home, one station had gas at 3.59 for 87 octane, the other two were showing 3.99. I caught them just as they were bumping their prices up. That's a 40 cent price hike we can thank oil speculators on Wall Street for.

reply to post by David9176


Ours went down from 3.78 last week to 3.68 the Memorial Day weekend and now it's 3.63.

reply to post by Rockdisjoint


That is fine if you live somewhere you can walk. A vast part of the US there is not other way to go anywhere other than car. There is no buses, trains, subways or anything else.

A good way to see if this was a local event or a trend is to check out the maps and charts at gasbuddy.com. I think there are a couple of other similar sites as well.


www.gasbuddy.com...

A simple solution is for commodity traders to be required to take actual physical possession of commodity they buy before they can sell it. You can't leave a tanker of oil at sea, you have to unload it into your tanks on shore. You can't buy ten truck loads of oranges without unloading into your warehouse before selling.

Ummm...ours went down from 3.99 to 3.57 in three days here in GA. There are even ahem "price wars" going on.

There's no rhyme or reason to most of this gas stuff going on in recent years. The fake shortages in 2009 here. The rises and falls tied to...nothing. Their "supply and demand" excuse isn't cutting it anymore.

But hey...didn't big oil not too long ago say they wanted to get the U.S. more in line with countries that pay out the nose? Guess this is what they're trying to do...they just seem to be hitting some bumps in that road. They'll be okay with their record profits though.

Never thought I'd ever see myself type these words, but maybe it is time to nationalize oil.

Originally posted by redrose123
reply to post by Rockdisjoint

 

That is fine if you live somewhere you can walk

Is it illegal to walk where you live?

we pay £5.90 per uk gallon i wilsh our fuel was as cheap as yours!

Look up peak oil

You'll be glad you did. Better yet view/look up Crash Course by Chris Martenson.

reply to post by ~Lucidity


Exxon Mobil's CEO stated recently in front of Congress that oil speculation is the cause for up to 40 percent of total gas prices.

Originally posted by Rockdisjoint

Originally posted by redrose123
reply to post by Rockdisjoint

 

That is fine if you live somewhere you can walk

Is it illegal to walk where you live?

Well, it is a bit hard to walk 17 miles down a highway in 100 degree weather to get to work, ya know.

It's a bit challenging to walk 10 miles to the nearest doctor's office.

oh and the bus system is a joke. oh yeah, and no trains either.

Trust me, I would love to be less dependant on a vehicle.. I do what I can.. I have a high efficiency vehicle, I telecommute most of the time, and I have a 100MPG scooter for local trips to store and such. But in Texas, at least, it is almost impossible to get anywhere without a vehicle.

I guess profits weren't high enough for big oil and they need to raise the prices again.


I live about a mile from my job so I walk when weather permits and now that school is out we don't have to make the two trips back and forth taking the kids to school. We went from putting about $70 a week in gas to about $20. That's what I love most about my town..everything is in walking distance or just a short drive unless you go out of town to the lake for some fishing or swimming.

We even got rid of our Jeep Grand Cherokee and got a Buick Park Avenue. The engines are roughly the same ( Jeep had the 4.0 and the Buick has the 3.8) but that Park Avenue gets amazing gas mileage.

We've seen an increase in folks around here riding scooters. Wish I could afford one I'd be riding one too.