Posted on 12/27/2010 4:12:54 PM PST by CincyRichieRich
The administration knows full well what the rising gas prices are doing to the economy and apparently has no problem with it. No drilling for oil, no evidence of a doable self-sufficient fuel remedy for "the regular people." How many unemployed people can afford an electric car? Life is good for the Saudis - lots of rich people there (oops forgot, Obama despises rich people.....). (sarc).
Historically, retail gasoline prices in the United States have followed a seasonal pattern. Prices typically rise during the summer driving season and drop after Labor Day. Over the 2004 through 2007 period and in 2009 (2008 is excluded due to the rapid run-up and subsequent crash in crude oil prices over the course of that year), the national average price for a gallon of regular gasoline fell an average of 22 cents between Labor Day and the middle of December. However, 2010 has seen a reversal in this pattern; the national average price has risen by 30 cents per gallon since Labor Day, the largest increase over that period since EIA began publishing weekly retail gasoline price data in 1990. The $2.98 per gallon national average price of regular gasoline is the second highest on record for the third week of December, surpassed only by 2007 when the average price reached $3.00 per gallon.
Oregon drivers may get an unpleasant shock when they pull up to the pump in the new year.
Drivers there are already paying an average of $3.06 per gallon, but in the new year the state Department of Transportation is hiking the gas tax by 6 cents. That will bring the state tax to 30 cents per gallon.
We’ve been paying over $3.00 for gas for months. I don’t remember if it has ever gone below that since the last price spike a couple of years ago.
NO vocal upoar, but many are cuting back on use. They are complaining with their dollars.
When Sarah is home, she pays $3.40 or so, just like all the rest of us here in Wasilla.
If Obama lifts the ban on Gulf drilling, the price might come down... are you on board Cincy?
Email Obama - Palin hasn’t done anything to cause this...
Because Bernancke said on 60 Minutes that there is no inflation or fear of inflation.
Just like the shrink ray that zaps the products on the grocery store shelves. Ice cream has gone from 1/2 gallon to 1.5 qt. containers, and is practically lighter than air. And I don't know what the new definition of chocolate is, but it now covers the fake stuff that is made of palm oil and/or hydrogenated frankenfats. Used to be that the low-quality cr@p was labeled as chocolate flavored or "chocolaty". I only noticed this recently when looking for some seasonal "treats". I know I should stick with real food, but how long before the word spinach is redefined?
So back to the gas, it will just keep getting reformulated until gas tanks empty so fast, drivers will get farther on on an electric vehicle's charge. Hmmm...
#1. The primary indicator for inflation is the Consumer Price Index for Urban Consumers (CPI-U), and it most definitely includes food and energy. It can be criticized for its chain-weighting system, for its basis of weighting housing costs, for its relative weighting on various components, for excluding certain taxes, and other things. BUT CPI-U INCLUDES FOOD AND ENERGY. The CPI-U is not the index that Ben Bernanke looks at when he sets Federal Reserve monetary policy. He uses CPI-U ex food and energy and the Producer Price Index for that purpose.
#2. The problem isn’t so much that oil prices or motor gasoline prices are going up. The problem is that the US$ is being, and has been, trashed. Helicopter Ben Bernanke and Lil Timmy Geitner are intentionally trashing the dollar, and prices of ALL commodities are going up. You may not like them, but you can’t blame the Saudis or the Vens for hiking oil prices as long as the priced in US$. BTW, this didn’t start with Obama. GWB appointed Helicopter Ben and the TARP bailouts began in his Administration.
#3. As India, China, and SE Asia have become more capitalist, they have become more prosperous. As they prosper, their economies demand, and can pay for, more imported crude oil, particularly from the Middle East. This increases demand, but does not significantly increase supply. (The Indians, Chinese, and Thais have made some discoveries of oil and natural gas, but not nearly enough to satisfy their growing appetites for hydrocarbons.) An elementary understanding of economics informs us that if demand curve shifts upward and the supply curve stays about the same, the price goes up.
Anyone who says that they the price of oil or motor gasoline “should be” different from the market price is expressing their ignorance of economics, the free market system, and the oil industry. Even the CEO of ExxonMobil, under oath, said he didn’t know what the price should be; he only knew what it was.
Wait till it goes up to $4
Do you remember after 911 when fuel prices went way above the fray. As a small business person, I was freaked out. The MSM was also. They blamed GWB and his WOT. Please people it’s become a conditioning thing now. Don’t stop speaking out against it.
“Wait till it goes up to $4”
It has been making some strong movement up the past few days.
Great comments!
Same reason there’s no uproar regarding the increasing casualties in Afghanistan.
We are still there you know, despite the fact you’d never know it from the Lewinski media.
http://apps.leg.wa.gov/rcw/default.aspx?cite=36.82
Just checked. They consider spending money on maintaining right aways, improving drainage under roadways to help salmon, trails, bike paths, all as road ways.
It is at the link.
They mix all the funds together in the service districts and county/city funds so you can’t determine whether funds are being used for transit. But all those bike paths, light rail crossings (very expensive), or if that light rail track is literally on a city street. It is all game, you gas tax at work buddy.
It costs a lot more to truck the ethanol up here so it can be blended with the fuel (per EPA and Congressional requirements).
In addition the EPA is trying to stop... > ahem <... regulate hydrofracking which will put the skids to shale gas and tight reservoir plays like the Bakken and Three Forks.
They want us immobile, shivering in the dark, folks.
The new House needs to make it a priority to de-fund this bunch of dirt-worshippers before they kill every vestige of the economy off.
Not the way groceries are going up, too. Fuel costs affect agricultural commodity prices across the board.
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