Posted on 08/13/2012 6:05:10 AM PDT by SoFloFreeper
A surprise surge in gas prices is taking some of the fun out of summer....
(Excerpt) Read more at wsvn.com ...
When gasoline hit $2.50-2.75 a gallon under George W., the Miami media was RAMPANT with single mothers, small businessmen and college students WHO WERE SUFFERING because of high gas prices.
Now, however, the liberals in Miami media cannot find ANYONE who is upset about $3.80 gas.
The price of gas here had finally inched its way down to $2.99 a few weeks ago. The next day it was at $3.29 at every single station around me. It has since gone up by ten cents or more at a time, occasionally retreating by one or two cents at a time. It is currently at $3.79. And historically, with Crude below $100, the price at the pump should be in the $3 to $3.10 range.
With demand continuing to shrink with even China’s economy shrinking, and us in one of the biggest oil booms in history, something is just not right here.
I am stunned by the blatant bias in the report.
God answers prayer in mysterious ways.
We have been praying fervently for 3 1/2 years to rid us of Obama. A sudden surge in gas prices may just be one of His ways of answering us.
I am stunned by the blatant bias in the report.
With demand continuing to shrink with even China’s economy shrinking, and us in one of the biggest oil booms in history, something is just not right here.
I’m not saying that the following comment of mine is totally correct, but it might have a bearing on what we see happening.
It has been observed many times that when government exhorts the population into conserving, food, water or energy because there isn’t enough of the commodity available and the people respond by doing just that. That industry or government then says that because not enough is being consumed that they MUST raise the price to make up shortfalls in their expected income stream.
This time the decrease is because the number of people who were driving back and forth to work has decreased radically, therefore the amount of gasoline being consumed has decreased also. This also goes for Vacation travel and I believe but am not entirely sure about, the number of trucks being needed to transport non-essential consumer products has also decreased.
A consumer can’t purchase what he doesn’t have money for once the credit cards are maxed out and they have to repay them back at exorbitant rates.
That may play into it. I’ve wondered that myself.
However, what about all the foreign oil we no longer need? Is it cheaper oil than the domestic stuff? Would it not be comical if ending our dependence on foreign oil causes the price to increase because it reduces competition?
“God answers prayer in mysterious ways.
We have been praying fervently for 3 1/2 years to rid us of Obama. A sudden surge in gas prices may just be one of His ways of answering us.”
I would happily pay $10/gallon if it meant getting rid of Obama.
Its not high enough. I hope it goes to $5.00 a gallon before the election.
The higher the misery index, the wrose for the Obamabastard and his Marxist/Muslim supporters.
I’m sure that the reduced number of Refineries due to NIMBYism also impacts gasoline prices as well as the increasing number of boutique formulations required for gasoline at different places around the U.S. With California naturally leading those numbers BTW.
My experience with petroleum though leads me to believe that the “financial speculators” are a lot like lemmings and react with emotion to anything that “might” impact the market and their usual reaction is to raise prices on the spot market and future market. What one does the others will also do unthinkingly and so they eventually run off the cliff when the market does manage to correct their emotional over-reactions.
I can tell you one thing for sure though an economy built on consumerism WILL collapse once the needed number of consumers to maintain it no longer are consuming at the required volume. Are we there yet? No, but we are getting close I think. Not because there isn’t a demand but because the money isn’t there to satisfy that demand.
If this was a textbook/classroom exercise it would be interesting to discuss/analyze and argue over. But it is going to really be nasty to live it I fear.
I was also forwarded an oil industry investor e-mail (which I deleted and my numbers might be off a little) that said the DOD just purchased 3 ??million?? barrels of oil over the past couple of weeks.
Could presage an attack on Iran ...
But could also be a reason why prices are up.
Also, wasn’t there a refinery fire recently?
Our price increase here in KY predates the fire.
I think that fire in SF only affects gas supply in CA.
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