Posted on 10/05/2012 9:49:41 AM PDT by BradtotheBone
FORTUNE -- President Obama may have a lot more to worry about than bombing the debate this week. Traders are starting to get particularly bullish over gasoline prices – and that is bad news for the average driver, who may also be looking to vent his spleen at the voting booth.
Reports of gas shortages along the high-demand west and east coasts may be fleeting – although deeply concerning – but they highlight a problem that's expected to persist in the U.S.: our refineries are getting old. Given that a new refinery has not been built since 1976, commodities desks on Wall Street are bracing for more refinery outages and fires just as the nation needs to gear up for the busy winter heating season.
What does that mean? Probably more weeks where we'll see U.S. crude oil inventories hovering above the upper limit of the average range for this time of year, yet gasoline inventories tunneling into the lower half of their average range, as the U.S. Energy Information Administration reported Wednesday.
Translated in dollars and cents, retail gas prices likely won't be moving off the $4 needle anytime soon. In fact, some gasoline buyers think this may even usher in a run to $5 a gallon (especially out west where gas stations are shutting down because they cannot buy gas at price levels low enough to turn a profit).
(Excerpt) Read more at finance.fortune.cnn.com ...
I will gladly pay for this at the pump.
Be of good cheer...there are forces in our country who want to unleash American capital once more....
Unfortunately they aren't really represented in either the Democrat or Republican parties at the higher levels. {Honestly, if they were would you be almost-forced to buy alcohol-diluted gasoline, and definitely forced to buy that stupid ultra-low Diesel?}
Great link,..thanks.
There is plenty more there.
F**k you California!
You embraced the Green Energy movement. We told you this was going to happen, but you knew everything and flipped us the bird.
So smile when you pay at pump.
Having had the wonderful pleasure to have to live/work in CA for a year, all I can say is: “what goes around, comes around, comrades.” You didn’t want to drill oil/gas, you didn’t want any kind of power plant(gas, oil, coal, nuclear), you didn’t want your neighboring states to have them either, you didn’t want water work projects.....and the list just goes on and on and on.
So now, comrades, it seems you’ve made your bed and got what you fought so valiantly for. So sleep in it for a while and enjoy your new socialist, greenie utopia and quit your complaining about those “high prices”. Just keep electing the mentally ill libs out there and petty soon, you’ll not even have a state!! You don’t deserve electricity, oil, gas, or any other form of energy. Go live in a cave and see how that wonderful “hope & change” works out for ya.
Gas then Obama inaugurated $1.89 a gallon.
Gas if Obama reelected $4.00 a gallon.
Gas when Obama finally leaves. $8.00 a gallon.
Bumper sticker:
Remember when GAS was $1.89 a gallon?
George Bush does.
Yep. Drudge has it up now.
LMAO
“Uh, uh, Jim you may want to move on to another topic...” -—Hussein Obammy (Debate #1)
“Heard people somewhere in California on the radio this morning complaining about over $6/gallon.....gee, thanks Obama!”
We might even see California voting against Obama.
Excellent!!!
I know some people who live in California. I’m going to laugh when they can’t afford to buy enough gas to get to work. And I’ll laugh even harder when the working wife loses her job and/or health insurance. I say they get what’s coming to them.
HOWEVER, and this is hard to say, I’d rather see obama gone.
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