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Author	Topic: They’re drilling, baby, drilling – and gas prices still going up	Post a Reply Back to Topics

KAR120CSII Champion Author Oregon Posts:3,172 Points:619,620 Joined:Apr 2010	Message Posted: Feb 20, 2013 2:47:33 AM Ignore KAR120CSII Report Abuse They’re baaaacccck. Like locusts ravaging fertile crops, gasoline prices are soaring again and eating away at the purchasing power of ordinary Americans. And again, financial speculators appear to be a big part of the story. The national average pump price hit $3.74 for a gallon of unleaded gasoline Tuesday, up a sharp 44 cents per gallon from just a month ago, according to the AAA Motor Club’s Fuel Gauge Report. “It’s the 33rd day in a row that we’ve seen a consecutive increase” in gasoline prices, said Nancy White, a spokeswoman for AAA, who said there It’s not all supply or demand. The rising gasoline prices come even as the United States now produces more than half the oil it consumes. In fact, the nearly 800,000 barrel per day increase in U.S. production output from 2011 to 2012... Visit McClatchy - Truth to Power for full article

KAR120CSII

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Oregon

Posts:3,172
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Message Posted: Feb 20, 2013 2:47:33 AM

Ignore KAR120CSII Report Abuse

They’re baaaacccck. Like locusts ravaging fertile crops, gasoline prices are soaring again and eating away at the purchasing power of ordinary Americans. And again, financial speculators appear to be a big part of the story.

The national average pump price hit $3.74 for a gallon of unleaded gasoline Tuesday, up a sharp 44 cents per gallon from just a month ago, according to the AAA Motor Club’s Fuel Gauge Report.

“It’s the 33rd day in a row that we’ve seen a consecutive increase” in gasoline prices, said Nancy White, a spokeswoman for AAA, who said there It’s not all supply or demand.

The rising gasoline prices come even as the United States now produces more than half the oil it consumes. In fact, the nearly 800,000 barrel per day increase in U.S. production output from 2011 to 2012...
Visit McClatchy - Truth to Power for full article

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Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 25, 2013 9:46:04 PM Ignore Gnusman53 Report Abuse Nahhhhhh... they love higher gas prices....
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 25, 2013 9:45:10 PM Ignore Gnusman53 Report Abuse Seems the GOP might have to nationalize the oil companies to lower prices any more.... (grin)
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 23, 2013 7:28:24 AM Ignore Gnusman53 Report Abuse Poor sammy....still missing the problems.... and the real answers
KAR120CSII Champion Author Oregon Posts:3,172 Points:619,620 Joined:Apr 2010	Message Posted: Feb 21, 2013 9:03:34 PM Ignore KAR120CSII Report Abuse Agree -- can't drill your way out when drilling has no effect on the price of gas.
WanderDan All-Star Author Dayton Posts:585 Points:142,710 Joined:Nov 2012	Message Posted: Feb 21, 2013 12:27:58 AM Ignore WanderDan Report Abuse cant drill your way out of a fake cost increase....
lesndave Champion Author Texas Posts:3,032 Points:699,430 Joined:May 2011	Message Posted: Feb 20, 2013 10:35:27 PM Ignore lesndave Report Abuse Not surprising
PDQBlues Champion Author San Diego Posts:7,064 Points:1,446,375 Joined:Jan 2009	Message Posted: Feb 20, 2013 9:21:48 PM Ignore PDQBlues Report Abuse SO much for the additional lies of Sarah Palin and the GOP.
ramammoth Champion Author Modesto Posts:1,472 Points:295,155 Joined:Mar 2007	Message Posted: Feb 20, 2013 2:41:25 PM Ignore ramammoth Report Abuse So much for drilling your way out.
oilfreak All-Star Author Houston Posts:682 Points:36,560 Joined:Oct 2012	Message Posted: Feb 20, 2013 11:00:11 AM Ignore oilfreak Report Abuse Blame the speculators for all the mess!
SammyAdams Champion Author Tallahassee Posts:3,049 Points:791,770 Joined:Nov 2010	Message Posted: Feb 20, 2013 10:24:44 AM Ignore SammyAdams Report Abuse From the article: "Nearly 1 million barrels a day of capacity has been turned off with eight refinery closures or announced closures on the U.S. East Coast and the Caribbean over the past year." "Another factor is that refiners that turn oil into gasoline have chosen to switch to their summer blends much earlier than normal" ============================================================== The title of the article doesn't tell the entire story, but you can bet your last Federal Reserve Note that a DECREASE of world oil production would drive the price (at the pump) even higher. Nothing here negates the fact that any increase in U.S. production of crude oil nor that approval of the Keystone XL would be beneficial. This article just doesn't reveal the whole truth of what drives prices of gas and consumer goods. BO is still an enemy of the middle class and the policies that he has promulgated are precisely those which will impoverish US, soooo DRILL, BABY, DRILL! [Edited by: SammyAdams at 2/20/2013 10:27:12 AM EST]
drpepperTX Champion Author Texas Posts:8,934 Points:751,010 Joined:Apr 2011	Message Posted: Feb 20, 2013 9:44:54 AM Ignore drpepperTX Report Abuse It's a global commodity folks.
merlinCO Champion Author Colorado Posts:1,630 Points:339,445 Joined:Mar 2012	Message Posted: Feb 20, 2013 9:21:13 AM Ignore merlinCO Report Abuse More ethanol!!!
the1roadhog Champion Author Atlanta Posts:9,903 Points:2,053,955 Joined:Jun 2007	Message Posted: Feb 20, 2013 8:48:00 AM Ignore the1roadhog Report Abuse Ask if I'm surprised? No.
darshanzala Veteran Author Illinois Posts:301 Points:98,635 Joined:Jan 2013	Message Posted: Feb 20, 2013 8:46:36 AM Ignore darshanzala Report Abuse Increase in production not reflected in gas prices
SycamoreISU Champion Author Indiana Posts:1,040 Points:258,935 Joined:Jan 2012	Message Posted: Feb 20, 2013 8:28:15 AM Ignore SycamoreISU Report Abuse When no new refineries have been allowed to be built in the last 35 years, any of them going down will reduce the available supply and raise gas prices.
AVKZ All-Star Author Kalamazoo Posts:836 Points:291,975 Joined:Apr 2012	Message Posted: Feb 20, 2013 8:21:22 AM Ignore AVKZ Report Abuse Get rid of the speculators.
Rockyguitar Champion Author Tampa Posts:2,557 Points:1,200,820 Joined:Sep 2008	Message Posted: Feb 20, 2013 8:04:34 AM Ignore Rockyguitar Report Abuse As much as I hate to say it, something needs to be done in the name of national security and "general welfare." Some limits on speculation are needed. I don't know how it can be done without infringing upon the free market, but I'm sure all those over-educated idiots in D C can figure it out.
eschroth442 Champion Author Cleveland Posts:1,069 Points:330,795 Joined:Nov 2011	Message Posted: Feb 20, 2013 8:02:50 AM Ignore eschroth442 Report Abuse it's the damn hedge fund speculators time to keep them out of the commodities markets!!
JDchefF Champion Author Lancaster Posts:1,040 Points:227,295 Joined:Aug 2012	Message Posted: Feb 20, 2013 8:01:09 AM Ignore JDchefF Report Abuse Need to do something to stop or slow down the speculation. Not sure what, but Need To Stop The Greed!
bar1035 Champion Author Charlotte Posts:9,143 Points:1,297,115 Joined:Aug 2006	Message Posted: Feb 20, 2013 7:59:33 AM Ignore bar1035 Report Abuse No shortage of speculator aritcles today
sabre75 Champion Author Florida Posts:1,663 Points:340,395 Joined:May 2012	Message Posted: Feb 20, 2013 7:58:11 AM Ignore sabre75 Report Abuse Losing faith in our system.. Prices going like a rocket.
grandmacbc Champion Author Buffalo Posts:6,530 Points:1,428,075 Joined:Oct 2008	Message Posted: Feb 20, 2013 7:45:05 AM Ignore grandmacbc Report Abuse I'd sure like to see the justification for the prices going up other than someones's pockets!
kyjlh Champion Author Kentucky Posts:1,612 Points:650,685 Joined:Feb 2005	Message Posted: Feb 20, 2013 7:44:38 AM Ignore kyjlh Report Abuse this sure makes Obama happy
Wally3023 Champion Author Pennsylvania Posts:2,025 Points:539,225 Joined:Sep 2011	Message Posted: Feb 20, 2013 7:44:19 AM Ignore Wally3023 Report Abuse Doesn't mean a thing.
wrunner Champion Author Virginia Posts:4,435 Points:1,135,385 Joined:Dec 2009	Message Posted: Feb 20, 2013 7:17:50 AM Ignore wrunner Report Abuse There is enough blame for everyone - on both sides of the political spectrum. What is important is the solution. Anyone got one or more? I sure don't and I am not one to blame anyone who keeps blaming everybody. Deal with it or it will deal us in.
07skydriver Champion Author Ohio Posts:3,251 Points:981,300 Joined:Feb 2009	Message Posted: Feb 20, 2013 6:43:46 AM Ignore 07skydriver Report Abuse So, Palin was not so smart after all. She sure had everybody fooled. AHhahahhaha. and the cleverest GOPers still quote her
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 20, 2013 6:41:32 AM Ignore Gnusman53 Report Abuse So Sister Sarah.... the wise one from Wasilla.... what say you now.... ????? That we still aren't drilling enough?.... Almost the only place that is not being drilled is her backside (grin)
humblepie Champion Author Toledo Posts:34,147 Points:2,369,420 Joined:Mar 2006	Message Posted: Feb 20, 2013 6:36:07 AM Ignore humblepie Report Abuse refine baby refine
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 20, 2013 6:32:23 AM Ignore Gnusman53 Report Abuse Unless you love higher gas prices... you should be threatening your GOP congressmen for letting them steal from Americans with impunity...
bills299 Champion Author Atlanta Posts:3,361 Points:903,515 Joined:May 2005	Message Posted: Feb 20, 2013 6:31:46 AM Ignore bills299 Report Abuse It's crazy how this is all working out!
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 20, 2013 6:30:22 AM Ignore Gnusman53 Report Abuse poor pricewar... that was priceless princess...... (grin).... blaming Obama for speculators????? when the GOP has been their protectors as the ravage and pillage at will..... Isn't that precious.... to quote an old SNL line.
MImusicman Champion Author Michigan Posts:1,868 Points:406,700 Joined:Mar 2012	Message Posted: Feb 20, 2013 6:28:34 AM Ignore MImusicman Report Abuse Ugh!
mandoid Champion Author Colorado Springs Posts:7,302 Points:1,526,220 Joined:May 2008	Message Posted: Feb 20, 2013 6:24:04 AM Ignore mandoid Report Abuse +1000 pricewar
Straitliner Champion Author Illinois Posts:1,492 Points:236,550 Joined:Sep 2012	Message Posted: Feb 20, 2013 6:16:33 AM Ignore Straitliner Report Abuse And up up up up and away.
George0446 Veteran Author Massachusetts Posts:496 Points:230,145 Joined:Apr 2012	Message Posted: Feb 20, 2013 6:11:29 AM Ignore George0446 Report Abuse We may need to put some breaks on speculators making it more difficult to control large blocks of oil. At the same time we need more high efficency refineries.
dr047 Champion Author Cleveland Posts:2,586 Points:516,470 Joined:Aug 2010	Message Posted: Feb 20, 2013 6:11:18 AM Ignore dr047 Report Abuse So much for "Drill Baby Drill"
yardslave Champion Author Oklahoma City Posts:2,549 Points:595,830 Joined:Dec 2005	Message Posted: Feb 20, 2013 5:59:03 AM Ignore yardslave Report Abuse Dril baby drill.
grandpadon28110 Champion Author Charlotte Posts:4,711 Points:1,141,335 Joined:Sep 2008	Message Posted: Feb 20, 2013 5:49:51 AM Ignore grandpadon28110 Report Abuse Supply and greed makes for a bad position for consumers.
TheGoatWhisperer Veteran Author Ohio Posts:482 Points:217,060 Joined:Mar 2009	Message Posted: Feb 20, 2013 5:47:06 AM Ignore TheGoatWhisperer Report Abuse Investors moving their money, stocks and commodities are in a rally. The Final Countdown. http://www.goldmoney.com/gold-research/alasdair-macleod/the-final-countdown.html Governments have refused to accept the necessity of a period of economic re-adjustment following the credit-bubble. The bubble burst about five years ago and economic progress has been effectively suspended ever since. The consequences of this refusal to accept reality are at a minimum to make this adjustment unnecessarily drawn out and needlessly painful, without offering a better eventual outcome. Reduced to its bare bones, the choice has been either to accept that unviable businesses and over-extended banks must go bust, or to ignore the problem and hope it goes away. We are familiar with this dilemma as investors: a business that refuses to adapt to new realities will eventually fail. Before it does, its investors have the chance either to sell their shares and perhaps reinvest their money more profitably, or to refuse to accept an early loss on their investment. Most of us, being human, take the latter course and usually regret it. [Edited by: TheGoatWhisperer at 2/20/2013 5:47:51 AM EST]
leeac Champion Author Ohio Posts:1,591 Points:432,930 Joined:Jan 2012	Message Posted: Feb 20, 2013 5:42:32 AM Ignore leeac Report Abuse Funny. So much for "drill, baby, drill". Increased supply does not mean lower prices as far as Big Oil is concerned.
SUPERSTEVIEO Champion Author Quebec Posts:3,523 Points:787,115 Joined:Oct 2010	Message Posted: Feb 20, 2013 5:32:41 AM Ignore SUPERSTEVIEO Report Abuse i guess tghis may just be an activity based on the NEW WORLD ORDER... Hmmmm
farmboyTN Champion Author Tennessee Posts:2,253 Points:447,380 Joined:Feb 2012	Message Posted: Feb 20, 2013 5:22:17 AM Ignore farmboyTN Report Abuse This doesn't make any senses....we are producing oil and price keeps going up, so I guess greed is working.
pscamp Champion Author Ottawa Posts:3,270 Points:473,310 Joined:May 2011	Message Posted: Feb 20, 2013 5:03:50 AM Ignore pscamp Report Abuse Sigh...
pricewar Champion Author Ogden Posts:1,935 Points:273,265 Joined:Jul 2012	Message Posted: Feb 20, 2013 5:02:03 AM Ignore pricewar Report Abuse those of you who drank the obama cool-aide are now getting a taste of it.
CityCouponer All-Star Author New Orleans Posts:928 Points:200,155 Joined:Aug 2012	Message Posted: Feb 20, 2013 4:57:27 AM Ignore CityCouponer Report Abuse My wallet's definitely being drilled!
hokieburgh Champion Author Virginia Posts:1,107 Points:463,425 Joined:Feb 2007	Message Posted: Feb 20, 2013 4:24:08 AM Ignore hokieburgh Report Abuse so wrong! This is a nasty, nasty thing happening!
StArrow68 Champion Author Oakland Posts:3,248 Points:1,359,360 Joined:Apr 2003	Message Posted: Feb 20, 2013 3:52:31 AM Ignore StArrow68 Report Abuse Continuing to cut back, like everyone else, can't be good for America. Administration policies on spending are giving us a weak dollar and that is the cause of high prices.
Cothrom Champion Author South Carolina Posts:1,749 Points:723,690 Joined:Sep 2005	Message Posted: Feb 20, 2013 3:30:52 AM Ignore Cothrom Report Abuse I may be slow at times but the one question on my mind is, where is all this extra money going? Call me dumb, it is probably obvious
comprof Champion Author Houston Posts:6,854 Points:1,355,775 Joined:Jul 2009	Message Posted: Feb 20, 2013 3:27:59 AM Ignore comprof Report Abuse Wzzon says they are hiring 12000 in The Woodlands' expansion. They are building 7000 new homes. We need the jobs.
angel4me Champion Author San Jose Posts:2,814 Points:793,795 Joined:Dec 2010	Message Posted: Feb 20, 2013 3:22:32 AM Ignore angel4me Report Abuse yup..........