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Author	Topic: Energy prices have been rising fast. But not enough to derail the economic recovery. Not yet anyway.	Post a Reply Back to Topics

bar1035 Champion Author Charlotte Posts:9,158 Points:1,298,220 Joined:Aug 2006	Message Posted: Jan 30, 2013 8:37:03 AM Ignore bar1035 Report Abuse Over the last month, crude oil prices have risen over 4% and are approaching $100 a barrel. Analysts think they'll soon trade in the triple digits. Gasoline futures are up even more, rising 8% over the last 30 days. At the pump, drivers are now paying 14 cents more a gallon than they were in mid December. The only outlier is natural gas, which is used to heat homes, among other things. Natural gas prices have fluctuated widely based on the weather, and have fallen about 4% this month as the cold snap gripping much of the country was expected to ease. "Higher energy prices act as a tax increase," said Chris Lafakis, a senior economist at Moody's Analytics, noting that they're also coming on the heels of another tax increase -- the expiration of the payroll tax holiday -- at the start of

bar1035

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Charlotte

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Message Posted: Jan 30, 2013 8:37:03 AM

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Over the last month, crude oil prices have risen over 4% and are approaching $100 a barrel. Analysts think they'll soon trade in the triple digits. Gasoline futures are up even more, rising 8% over the last 30 days. At the pump, drivers are now paying 14 cents more a gallon than they were in mid December.

The only outlier is natural gas, which is used to heat homes, among other things. Natural gas prices have fluctuated widely based on the weather, and have fallen about 4% this month as the cold snap gripping much of the country was expected to ease.

"Higher energy prices act as a tax increase," said Chris Lafakis, a senior economist at Moody's Analytics, noting that they're also coming on the heels of another tax increase -- the expiration of the payroll tax holiday -- at the start of

REPLIES (newest first)Ignore Short Messages

virostek Veteran Author Virginia Posts:423 Points:90,285 Joined:Oct 2012	Message Posted: Jan 31, 2013 7:07:34 AM Ignore virostek Report Abuse OK.
remay Champion Author Houston Posts:6,963 Points:2,117,390 Joined:May 2006	Message Posted: Jan 31, 2013 6:51:14 AM Ignore remay Report Abuse Ahhh, the journalists are at it again...
ExplorerWA Champion Author Washington Posts:4,078 Points:797,150 Joined:Feb 2011	Message Posted: Jan 30, 2013 11:05:46 PM Ignore ExplorerWA Report Abuse Look for lower take home pay with the payroll tax holiday expired.
A_NY_Outlaw Champion Author Albany Posts:1,373 Points:705,565 Joined:Mar 2011	Message Posted: Jan 30, 2013 8:59:34 PM Ignore A_NY_Outlaw Report Abuse The Communist News Network at it again painting a pretty picture for their beloved King Obama. I'm surprised they aren't blaming Bush, Fox News,Rush Limbaugh and Sean Hannity. Oh wait... they already have!
PDQBlues Champion Author San Diego Posts:7,074 Points:1,448,325 Joined:Jan 2009	Message Posted: Jan 30, 2013 5:54:06 PM Ignore PDQBlues Report Abuse Gas prices bumped up over the past day or two. This seems rather ominous.
cdanielwyke Champion Author Greensboro Posts:2,480 Points:594,905 Joined:Sep 2008	Message Posted: Jan 30, 2013 3:34:41 PM Ignore cdanielwyke Report Abuse I missed the part where the economy recovered. Anyone else catch that?
crep1291 Champion Author Ottawa Posts:2,578 Points:480,950 Joined:Dec 2010	Message Posted: Jan 30, 2013 12:39:08 PM Ignore crep1291 Report Abuse "Hundreds of thousands -- if not millions -- of people in the industry see their paychecks go up when energy prices rise. " The only people who's paycheque go up with rising energy costs are the CEOs, the shareholders and a few key employees the company needs to retain.
Jeff4U Champion Author Atlanta Posts:8,754 Points:1,852,370 Joined:Nov 2004	Message Posted: Jan 30, 2013 12:16:41 PM Ignore Jeff4U Report Abuse I've got news for you, CNN. Are you blind, stupid, or both? The economy has been derailed since 2008 and will stay derailed until 2016. Thanks to 51% of blind people, we're stuck with a president who only wants more money to spend and cares nothing about the huge deficit. Have you not noticed your lower paycheck yet? That's just one of many ways to take your money. Just wait till you start paying the tab for his Obamacare. You're all in for a big surprise! Everything will cost more, thanks to blind people.
PathfinderSC Champion Author South Carolina Posts:9,516 Points:1,830,640 Joined:Mar 2008	Message Posted: Jan 30, 2013 11:38:37 AM Ignore PathfinderSC Report Abuse Not yet, Just give it time.
Cellsite Champion Author Appleton Posts:1,231 Points:286,385 Joined:Jun 2012	Message Posted: Jan 30, 2013 11:09:31 AM Ignore Cellsite Report Abuse "drivers are now paying 14 cents more a gallon than they were in mid December." Nope. Wrong. Try 21¢ more per gallon and climbing fast. This on top of the added 2% SS tax, and 1% federal income tax increases, not to mention reducing FSA maximums from $5000 to $2500, and increases in health insurance premiums and co-pays. Thanks for nothing O'bummer and the stupid people who voted for him.
WalkingWV Champion Author West Virginia Posts:3,701 Points:779,595 Joined:May 2008	Message Posted: Jan 30, 2013 11:03:21 AM Ignore WalkingWV Report Abuse $3.65 this morning, that means a 51¢ increase from $3.14 last Wednesday. DISGUSTING
Van_Halen Champion Author Atlanta Posts:2,850 Points:641,980 Joined:Apr 2011	Message Posted: Jan 30, 2013 10:59:52 AM Ignore Van_Halen Report Abuse . Idiots at CNN, the high energy prices are what is holding America in the recession that has yet to end and has been getting deeper the last three months! High Energy prices, ObamaCare, and Dumbocratic tax increases are going to cause a very deep recession shortly to make 2007/2008 look like a party!
sagnat Champion Author Riverside Posts:1,154 Points:308,260 Joined:Jun 2012	Message Posted: Jan 30, 2013 9:43:47 AM Ignore sagnat Report Abuse Give it a couple more weeks, rising fuel prices will help turn down the economy.
PTBpricer Champion Author Virginia Posts:1,503 Points:205,445 Joined:Jun 2012	Message Posted: Jan 30, 2013 9:29:38 AM Ignore PTBpricer Report Abuse But the increases are sure slowing the train.
K9LO Champion Author North Dakota Posts:2,685 Points:543,980 Joined:Nov 2010	Message Posted: Jan 30, 2013 9:18:46 AM Ignore K9LO Report Abuse Lets take everyone to the cleaners. Gasoline is up in Minot ND. The gas prices are almost the highest in ND. Distributors should be ashamed for price gouging the people of Minot, ND.
mastermariner Champion Author Texas Posts:4,247 Points:493,885 Joined:Jun 2011	Message Posted: Jan 30, 2013 9:14:35 AM Ignore mastermariner Report Abuse Give it time it will
drpepperTX Champion Author Texas Posts:8,945 Points:752,210 Joined:Apr 2011	Message Posted: Jan 30, 2013 9:11:56 AM Ignore drpepperTX Report Abuse And so it continues.
eschroth442 Champion Author Cleveland Posts:1,079 Points:332,745 Joined:Nov 2011	Message Posted: Jan 30, 2013 9:02:01 AM Ignore eschroth442 Report Abuse but the prices keep going up. I now make my comute mileage a deciding factor when exploring a new company
EnviroChemist All-Star Author Oklahoma Posts:724 Points:209,860 Joined:Oct 2011	Message Posted: Jan 30, 2013 8:56:22 AM Ignore EnviroChemist Report Abuse The recent price increases have not done my personal economic recovery any favors
humblepie Champion Author Toledo Posts:34,217 Points:2,371,370 Joined:Mar 2006	Message Posted: Jan 30, 2013 8:43:31 AM Ignore humblepie Report Abuse what econmic recovery would that be ?
dr047 Champion Author Cleveland Posts:2,592 Points:517,445 Joined:Aug 2010	Message Posted: Jan 30, 2013 8:41:48 AM Ignore dr047 Report Abuse I guess it's not a problem if you can afford it.
txequitygas All-Star Author Houston Posts:793 Points:156,015 Joined:Dec 2012	Message Posted: Jan 30, 2013 8:41:33 AM Ignore txequitygas Report Abuse Is there an energy plan anywhere in our future?
badbonita Champion Author Syracuse Posts:6,224 Points:1,353,710 Joined:Jul 2008	Message Posted: Jan 30, 2013 8:40:25 AM Ignore badbonita Report Abuse Gotta agree with the previous poster - it's only a matter of time.
angel4me Champion Author San Jose Posts:2,814 Points:794,545 Joined:Dec 2010	Message Posted: Jan 30, 2013 8:40:00 AM Ignore angel4me Report Abuse hope it doesn't..............
GarRafFra Sophomore Author Worcester Posts:167 Points:16,150 Joined:Jan 2013	Message Posted: Jan 30, 2013 8:38:27 AM Ignore GarRafFra Report Abuse Just give it time.