View Full Version : Gas Prices!?!
piratebg
08-09-2006, 10:15 PM
A friend of mine told me that gas prices are going to reach close to $4 next week. Is this true or is someone pulling my chain. Someone help me out here.
shankbear
08-09-2006, 10:17 PM
Had not heard that. Say it ain't so.
LH Panther Mom
08-09-2006, 10:19 PM
I'm not sure, but I believe BP shut down some of their pipelines in Alaska a few days ago.
shankbear
08-09-2006, 10:22 PM
Yup, shut in 400,000 barrels a day production. It has already been reflected in the speculator's bidding up the price of crude and it closed today at about $75-76 per barrel.
Adidas410s
08-09-2006, 10:38 PM
you won't see $4 gas...but $3 to $3.20 or so should be expected.
Ranger Mom
08-09-2006, 10:41 PM
For the first time ever (that I have seen) gas is $3 or over at every single station I saw today!!
shankbear
08-09-2006, 10:43 PM
Still around 2.85 to 2.89 in Orange, Bridge City. I am in Galveston now and it is 2.90 at most places on Sawall Blvd.
kaorder1999
08-09-2006, 11:07 PM
2.83 in forney
sinfan75
08-10-2006, 04:35 AM
As the old sayin goes - Grin And Bare It!!! But yeah don't be surprised if does hit 4 dollars by the end of the year.
pirate44
08-10-2006, 05:26 AM
i filled up yesterday for $2.81
Phil C
08-10-2006, 08:44 AM
The Fat Cats are still at it. It needs to be regulated like the utility companies were but no one listens to the GodFather and instead smiles and pays the high gasoline prices.
Adidas410s
08-10-2006, 08:47 AM
weren't utility companies DEregulated??? :thinking: I know that electric companies were.
Also, the fat cats really aren't at it again this time considering that BP is losing a lot of money (not to mention the state of Alaska) while they shutdown this oil field to fix their pipelines. I promise you they weren't too excited about having to do this.
KindaCool
08-10-2006, 10:16 AM
Originally posted by Adidas410s
weren't utility companies DEregulated??? :thinking: I know that electric companies were.
you are correct - and once again PhilC has proven he doesn't know what he is talking about
Adidas410s
08-10-2006, 10:22 AM
Originally posted by KindaCool
you are correct - and once again PhilC has proven he doesn't know what he is talking about
SHOW SOME COMPASSION!!! :flamingma
Phil C
08-10-2006, 10:37 AM
Originally posted by KindaCool
you are correct - and once again PhilC has proven he doesn't know what he is talking about
Actually they were deregulared because they were broke up. But oil companies are an olygopoly.
Phil C
08-10-2006, 11:13 AM
Originally posted by KindaCool
you are correct - and once again PhilC has proven he doesn't know what he is talking about
I have been put in my place. I am so ashamed! :(
shankbear
08-10-2006, 12:33 PM
Speculators drive up the costs of oil as they drive up the cost of coffee and orange juice and pork bellies. Oil is a product which can be bet on just like a horse race. Will it go up? Will it go down? When? Profits by the oil companies are small per gallon. Their margins are dwindling. They have to purchase the high priced crude, they don't simply own it.
Some guy i was talking that works out here at the gym that i work at, was telling me that high gas prices could make the country go into a major depression! I asked him how and he said that the price of everything that you buy will go up! He said, food at the grocery store would go up b/c of the gas money it takes for the trucks to deliver the food to the stores!!! Not just b/c of this, this was just an example he said!!!
What do yall think??
Phil C
08-10-2006, 01:36 PM
Originally posted by wedo
Some guy i was talking that works out here at the gym that i work at, was telling me that high gas prices could make the country go into a major depression! I asked him how and he said that the price of everything that you buy will go up! He said, food at the grocery store would go up b/c of the gas money it takes for the trucks to deliver the food to the stores!!! Not just b/c of this, this was just an example he said!!!
What do yall think??
BRING BACK THE RAILROADS! :mad:
Adidas410s
08-10-2006, 01:42 PM
Originally posted by wedo
Some guy i was talking that works out here at the gym that i work at, was telling me that high gas prices could make the country go into a major depression! I asked him how and he said that the price of everything that you buy will go up! He said, food at the grocery store would go up b/c of the gas money it takes for the trucks to deliver the food to the stores!!! Not just b/c of this, this was just an example he said!!!
What do yall think??
That wouldn't cause a depression. A depression would be a situation where the value of American money dropped so low that it couldn't afford to pay for the products and services to be produced. Increasing gas prices will cause increased prices in things that have to be transported...but it's not a catostrophic increase because the trucks can carry such large volumes of a product that the cost can be spread out across the quantity produced and sold. For example...say gas jumped to $5/gallon. You would probably see milk go up about $.05 to $.10 in the stores. Not that big of a change really...
injuredinmelee
08-10-2006, 02:18 PM
Originally posted by Phil C
Actually they were deregulared because they were broke up. But oil companies are an olygopoly.
why regulate them? You want someone telling you how you should run your business and how much profit you can make at whatever job you are doing?
Buehlers:
Inflation is when the dollar buys less and less.
Deflation is where the dollar actually buys more. The depression in the 30's was a deflationary depression.
Weimer Germany had a inflationary depression, it took a barrelful of money to buy a loaf of bread.
Both are BAD.
We will not have deflation in this country as long as "Helicopter" Ben Bernanke is the head of the Federal Reserve Bank. He has stated that the 30s depression could have been avoided by printing more money. (and figuratively dumping them out of helicopters <hence the nickname> to stimulate demand and the economy)
As far as gas prices, they are going UP! Bet on it.
If you are smart you will also acquaint yourselves with the term "peak oil" and "hubberts curve".
Me, I'll just keep cashin these ol oil checks and routing for my Hawks!!!
big daddy russ
08-10-2006, 02:40 PM
Originally posted by wedo
Some guy i was talking that works out here at the gym that i work at, was telling me that high gas prices could make the country go into a major depression! I asked him how and he said that the price of everything that you buy will go up! He said, food at the grocery store would go up b/c of the gas money it takes for the trucks to deliver the food to the stores!!! Not just b/c of this, this was just an example he said!!!
What do yall think??
It would never happened to my dad. He works in the oil industry, so the higher the prices, the more work for him.
injuredinmelee
08-10-2006, 02:49 PM
Originally posted by Odis
Buehlers:
Inflation is when the dollar buys less and less.
Deflation is where the dollar actually buys more. The depression in the 30's was a deflationary depression.
Weimer Germany had a inflationary depression, it took a barrelful of money to buy a loaf of bread.
Both are BAD.
We will not have deflation in this country as long as "Helicopter" Ben Bernanke is the head of the Federal Reserve Bank. He has stated that the 30s depression could have been avoided by printing more money. (and figuratively dumping them out of helicopters <hence the nickname> to stimulate demand and the economy)
As far as gas prices, they are going UP! Bet on it.
If you are smart you will also acquaint yourselves with the term "peak oil" and "hubberts curve".
Me, I'll just keep cashin these ol oil checks and routing for my Hawks!!!
did odis almost have an intelligent thought?
Phil C
08-11-2006, 08:28 AM
Originally posted by KindaCool
you are correct - and once again PhilC has proven he doesn't know what he is talking about
Jason?! :confused: :) :confused:
pirate44
08-11-2006, 08:29 AM
gas prices are going down. 1 day after i fill up for $2.81, gas is now $2.65 in Corpus Christi
Phil C
08-11-2006, 08:31 AM
Originally posted by pirate44
gas prices are going down. 1 day after i fill up for $2.81, gas is now $2.65 in Corpus Christi
Oh no! I just filled up here in Sinton at $2.89/gal. :( :mad:
pirate44
08-11-2006, 08:33 AM
Originally posted by Phil C
Oh no! I just filled up here in Sinton at $2.89/gal. :( :mad:
you could have saved $0.24/gal. on a 20 gal tank, thats $4.80 savings (granted youd have to have an empty 20 galon tank to pull that off)
LH Panther Mom
08-11-2006, 09:10 AM
Originally posted by Phil C
Jason?! :confused: :) :confused:
:foul: Great! Now I've got coffee on my shirt! :D :D :clap: :clap: :thumbsup:
Gsquared
08-11-2006, 11:07 AM
Originally posted by wedo
Some guy i was talking that works out here at the gym that i work at, was telling me that high gas prices could make the country go into a major depression! I asked him how and he said that the price of everything that you buy will go up! He said, food at the grocery store would go up b/c of the gas money it takes for the trucks to deliver the food to the stores!!! Not just b/c of this, this was just an example he said!!!
What do yall think?? I think the days of any type of economic depression are over. We get info way too fast these days. Eventually the market will correct itself, however, oil is one of those elastic commodities.
>>oil is one of those elastic commodities<<
Wrong!!! Guess that candy can't hurt your thinking any!!
Oil and gas demand is relatively inelastic. NOT Elastic.
Price goes up you still fill up the SUV!!
Must have been eating cotton candy in econ 101.
Inelastic = price changes you still buy
Elastic = price changes you change your behavior
(cotton candy costs $12 you buy less)
People like to THINK they change gas buying behavior but the EIA (energy information agency) says gas demand is up 1.8% Y-O-Y. Prices are up but consumption is up. INELASTIC.
No matter the price. You still gotta go to work, take the kids to school, go to FOOTBALL games, ect....
Originally posted by pirate44
gas prices are going down. 1 day after i fill up for $2.81, gas is now $2.65 in Corpus Christi
Quit playin!!!!
pirate44
08-11-2006, 12:32 PM
Originally posted by wedo
Quit playin!!!!
its great. and to think it was all in the midst of a terror attack thread and an alaskan pipeline shutdown. incredible
dang you guys are lucky!!!!!!!!!!!!!:mad:
Gsquared
08-11-2006, 12:42 PM
Originally posted by Odis
>>oil is one of those elastic commodities<<
Wrong!!! Guess that candy can't hurt your thinking any!!
Oil and gas demand is relatively inelastic. NOT Elastic.
Price goes up you still fill up the SUV!!
Must have been eating cotton candy in econ 101.
Inelastic = price changes you still buy
Elastic = price changes you change your behavior
(cotton candy costs $12 you buy less)
People like to THINK they change gas buying behavior but the EIA (energy information agency) says gas demand is up 1.8% Y-O-Y. Prices are up but consumption is up. INELASTIC.
No matter the price. You still gotta go to work, take the kids to school, go to FOOTBALL games, ect....
Errr, maybe I outta clean this one up.
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