February 18, 201214 yr http://www.nytimes.com/2012/02/19/us/politics/high-gas-prices-give-gop-issue-to-attack-obama.html?_r=1&ref=politics So why do you think gas prices are on the dramatic rise right now when they usually don't rise until the summer driving season? Do you think there might be some manipulation in the price to bring down the economy for the Presidential election? Because a $5.00 / gallon average price point would devastate an economy that is already very fragile. I have always believed that there was more "manual manipulation of gas prices than the market would let you believe. The excuse today is the unrest in Iran. What do you think the real excuse would be?
February 18, 201214 yr Active Members I think it's a combination of the spike that always happens as the oil industry act like the somehow unforeseeable twice-yearly switchover between winter and summer blends is horrible government over-regulation and the nasty election cycle--the perfect time to drive their point home! Poor poor oil companies still can't get over the .01% drop in their profits over being forced to stop poisoning everything with lead, what, 20-30 years ago!
February 19, 201214 yr What's interesting is that the demand is way down. Part of the reason is unemployment and the other are cars that need less fuel. I myself have a new hybrid and I only have to fill up once a month now instead of once a week. It was a huge difference in my gas bill in 2011.
February 19, 201214 yr Demand from countries like China, India and etc. are increasing. One country I visited had the highest gasoline consumption even though price of gasoline is much higher there. We gave to think globally now.
February 19, 201214 yr Gas prices even went up 7cents in Orange County since Friday (2 days). I don't recall a 34cent monthly price hike since I've lived in SoCal. This will have huge ramifications on the economy if this continues into the year. I hope Obama addresses it early or we may slip back into a recession just in time for the elections in November.
February 20, 201214 yr Active Members Not to worry... I hear that China will be exporting rickshaws to America. Look for them at your nearest Walmart. Also, I hear that a couple of refineries on the East Coast have been closed. The diminishes gasoline domestic production even if it clears the tar out of Jersey City air.
February 20, 201214 yr And two refineries in California have also been closed (they say due to lower demand?). . . At this rate, CA will be paying $5.50 a gallon by May. Unbelievable. I guess the Republicans will get a economy in free fall if that happens. It's sad that they are wishing for that too.
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