Rising Gas Prices

[Cali]

Well since my gas is 4.99/gal I don't have far to go.

Not a week... but before Election Day, it may indeed reach its national peak. Many key analysts are calling it "panic buying" in anticipation that the rug may be pulled out from under the market. Maybe. Kind of.

[WhatMoney]

And more sinister thoughts in the article below. Would the Republicans start an Iran war to elect McCain, using their usual fear and doubt argument against Obama during wartime? They've done it before and it worked! This would not be good for oil and gas prices either, to keep the thread on topic.

Rumors of War: Is Bush Gearing Up to Attack Iran?http://www.alternet.org/audits/87079/?page=entire

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[WhatMoney]

Time will reveal what happens in November. This particular period of high gas prices are unlike anything the country/world has experienced before. The pace that gas prices are rising are more twisted that the how the real estate market was.

It is going to be tricky to get low (relative) prices by the US Election. But I have faith that the "world planners" will work it out. Right now the rapid spike in oil prices is from speculation in the unregulated oil futures markets, plus the devaluing of the dollar. Bernanke has already pledged to hold interest rates and support the dollar, for the first time since he took office.

But the futures price speculation is now based on one event - that Israel, with the full support and participation of Bush, will selectively attack Iran nuclear sites this summer. The retaliation from Iran would be to reduce their oil exports, at least for awhile. Oil would spike higher, and the speculators buying oil now at $140 will make a quick profit. Futures traders look for short term profits - and they are all tuned into the Israel/Iran channel (most of the traders are Jewish.)

Of course the longer term effects of an Iran/Isreali war on the price of oil, may not work out according to plan - think Iraq. The Saudi's would have to make up for Iran's shortfall to compensate. And the Saudi's want McCain elected to protect the corrupt Royal Family's power, so they would cooperate, despite the arab regional politics. Let's hope this war game all goes according to plan.

[Pizza]

Gasoline prices will start coming down in September before the November election, just like always. The republican oil companies and oil producers will do this only to pacify the American voters. After all, McCain is their boy and he will need all the help he can get. After the election its business as usual and prices will keep rising.

At some point, China and India will have to pull their subsidies... as India is starting to do now... US consumption will drop dramatically, as well most of the rest of the world. Alternative fuels will be the next phase (let's not repeat the mistakes of the 80's by dropping projects when prices fall), and oil prices will eventually plunge. But what no one knows, which is hurting us bad, how long it would take.

[HRx]

Gasoline prices will start coming down in September before the November election, just like always. The republican oil companies and oil producers will do this only to pacify the American voters. After all, McCain is their boy and he will need all the help he can get. After the election its business as usual and prices will keep rising.

Time will reveal what happens in November. This particular period of high gas prices are unlike anything the country/world has experienced before. The pace that gas prices are rising are more twisted that the how the real estate market was. And real estate prices are still to high for most people.

[WhatMoney]

Gasoline prices will start coming down in September before the November election, just like always. The republican oil companies and oil producers will do this only to pacify the American voters. After all, McCain is their boy and he will need all the help he can get. After the election its business as usual and prices will keep rising.

[Pizza]

We will be there in a week I am sure.

Not a week... but before Election Day, it may indeed reach its national peak. Many key analysts are calling it "panic buying" in anticipation that the rug may be pulled out from under the market. Maybe. Kind of.

[Cali]

I think it is because of the high demand and people are paying because they have to get to work. San Diego has been the highest area for gas for the past 4 years. Thank goodness I don't have to drive many places.

You guys got it bad...do you think your prices are so high because of the increased demand in California?

[HRx]

If there is no cap put on this crisis, we are going to see full scale disaster in the next six months. Your average family can not take the continued increase without wage increases...this is totally a "no-win" situation...it is not an affordable situation along with the increases across the board from electric to food.

The outcome does appear to be very grim...Many retail companies have had massive layoffs, buyouts, and/or closed because of the ancilliary impact of high fuel costs.

[AMISLANDER]

Because gas prices keep increasing at such a volatile and quick pace, it's nearly impossible for people to get used to the costs. I'm sure retail business are seeking record low sales because of high gas prices.

If there is no cap put on this crisis, we are going to see full scale disaster in the next six months. Your average family can not take the continued increase without wage increases...this is totally a "no-win" situation...it is not an affordable situation along with the increases across the board from electric to food.

[HRx]

Because gas prices keep increasing at such a volatile and quick pace, it's nearly impossible for people to get used to the costs. I'm sure retail business are seeking record low sales because of high gas prices.

[HRx]

We will be there in a week I am sure.

You guys got it bad...do you think your prices are so high because of the increased demand in California?

[Cali]

We will be there in a week I am sure.

Folks...this isn't the politics thread...if you want to discuss this sort of top please post in the Politics thread or create a new one to continue your discussions. With that said, I'm hearing that gas prices will reach $6 before summers end.

[HRx]

IMO hear say is one thing that is driving the prices up
I have read articles saying the bubble will burst real soon

Fact is OPEC can get away with this and we havent shown them otherwise, our driving habits remain the same so why should they cut costs?

Supply and demand 101
They have the supply we demand it, we pay for it
Until we cut back it wont change in a huge way

The extremely high cost of oil prices aren't do to increase demand, based on the few roundtables with congress and the top oil executives. They actually admitted that demand has been down for quite a long time. That was just the fundamental logical consensus that "experts" concluded to for the past few years.

[jerzey]

Folks...this isn't the politics thread...if you want to discuss this sort of top please post in the Politics thread or create a new one to continue your discussions. With that said, I'm hearing that gas prices will reach $6 before summers end.

IMO hear say is one thing that is driving the prices up
I have read articles saying the bubble will burst real soon

Fact is OPEC can get away with this and we havent shown them otherwise, our driving habits remain the same so why should they cut costs?

Supply and demand 101
They have the supply we demand it, we pay for it
Until we cut back it wont change in a huge way