"Gas prices seen headed lower at the pump"

CNN Money article> money.cnn.com...

I'm curious, "Who here thinks this is good or bad news?"

I'm specifically asking:

Who here wants to see gas prices go up, and why?

AND

Who here wants to see gas prices lower, and why?


Are there any here who think gas prices are currently priced within a reasonable window? Comments can be in regards to both wholesale and retail.

Headed down? Maybe.
Headed up? Maybe.

Salazar - no one knows if US headed to 9$ a gallon for gas at the pump

Department of Interior Secretary Ken Salazar said that "no one knows" if gasoline prices in the United States will reach $9 per gallon, and acknowledged that the possibility is outside his control.

"I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy," Salazar told reporters when asked if gas prices could reach $9 per gallon, as they have been in Greece. "Where it will all end, no one knows.

reply to post by FlyersFan


If $9 a gallon is what it takes to wake the masses then so be it.

Make it $20 if that is what it takes.

IMO, almost all costs are to high atm. The problem isn't in the commodities though, the problem is that our currency has lost 95% of it's value since 1913. So, what happened in 1913 that lead to the dramatic decline in value of the dollar? The federal reserve.

reply to post by Skewed


Oh $9 will wake the masses alright... You will have blood in the streets and bodies to fill the morgues. NO question what so ever. At that price, everyone with a commute over about 30 miles will then pay more to get to work than they MAKE there unless they're in a skilled position. Heck, skilled just means they won't be broken by that gas price..it'll just be a close one to even that class of people.

Yeah.. I can be 100% sure NO ONE will remain asleep at $9. We'll just be left wishing...as we're listening to distant gunfire in an American city..that we hadn't wanted it quite so badly, IMO.

reply to post by Wrabbit2000


I know it sounds bad, but status quo cannot continue.

I am afraid that some eggs will be broken before it is over.

We are a bunch of dummies. The speculation lowers this time of year just in time for summer. They gave us a feel of $5/gallon. Now they lower it to $4.50 and all people can say is "I'm just glad it's not $5" when it was $4 last year. This summer we will see $5.50 - $6 per gallon.

I see stories like this (posted today), note the portion I bolded:

Shell profits rise on high oil prices

LONDON—Energy giant Royal Dutch Shell said Thursday that net profits climbed almost 16 percent in the first quarter, boosted by "strong" oil prices and rising output. Europe's biggest oil company announced that adjusted earnings after tax, which strip out movements in the value of energy inventories and other non-operating items, jumped to $7.28 billion in the three months to March 31.

That compared with $6.29 billion in the first quarter of 2011, and comfortably beat market expectations of $6.75 billion according to analysts polled by Dow Jones Newswires. Total sales increased by nine percent to $119.92 billion in the reporting period, while oil and gas production rose 1 percent to 3.552 million barrels of oil equivalent per day. Analysts had predicted output to fall 0.6 percent.

The better-than-expected results sent Shell's share price rallying by more than three percent in morning deals. "Shell's first quarter 2012 earnings increased from year-ago levels, through a combination of improved operating performance, increased upstream volumes and strong oil prices," said chief executive Peter Voser in the statement.

It's all a big game that we're all forced (more or less) to play.

What makes me angry is that when oil prices increase, fuel prices increase immediately or overnight at the pump. But when oil decreases in price, it takes a few weeks for it to show at the pump.

Originally posted by FlyersFan
Headed down? Maybe.
Headed up? Maybe.

Salazar - no one knows if US headed to 9$ a gallon for gas at the pump

Department of Interior Secretary Ken Salazar said that "no one knows" if gasoline prices in the United States will reach $9 per gallon, and acknowledged that the possibility is outside his control.

"I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy," Salazar told reporters when asked if gas prices could reach $9 per gallon, as they have been in Greece. "Where it will all end, no one knows.

Based upon a Department of Interior Secretary quote?

What does his opinion have to do with the price of tea in China?


Anyway, what do you want to see? The price of gas to go up or down or remain at the same relative price levels?

Originally posted by Skewed
reply to post by FlyersFan

 

If $9 a gallon is what it takes to wake the masses then so be it.

Make it $20 if that is what it takes.

So you want the price of gas to go up.

You want it to in order to wake people up.


Wake up to what?

Originally posted by DarthMuerte
IMO, almost all costs are to high atm. The problem isn't in the commodities though, the problem is that our currency has lost 95% of it's value since 1913. So, what happened in 1913 that lead to the dramatic decline in value of the dollar? The federal reserve.

Can you convert your figures to reflect a real value of USD historical worth, a ratio between wages and costs?

Now do you want the price of gas to go up or down and why?


Do you cheer the news presented in the article?

Originally posted by Wrabbit2000
reply to post by Skewed

 

Oh $9 will wake the masses alright... You will have blood in the streets and bodies to fill the morgues. NO question what so ever. At that price, everyone with a commute over about 30 miles will then pay more to get to work than they MAKE there unless they're in a skilled position. Heck, skilled just means they won't be broken by that gas price..it'll just be a close one to even that class of people.

Yeah.. I can be 100% sure NO ONE will remain asleep at $9. We'll just be left wishing...as we're listening to distant gunfire in an American city..that we hadn't wanted it quite so badly, IMO.

Road Worriers scenario, hey? Do you think that's a good thing, and why or why not?

Originally posted by Skewed
reply to post by Wrabbit2000

 

I know it sounds bad, but status quo cannot continue.

I am afraid that some eggs will be broken before it is over.

Would you be more inclined to fix the status que by nationalizing energy and central banking within the U.S. and maybe even on a global scale?

Originally posted by HawkeyeNation
We are a bunch of dummies. The speculation lowers this time of year just in time for summer. They gave us a feel of $5/gallon. Now they lower it to $4.50 and all people can say is "I'm just glad it's not $5" when it was $4 last year. This summer we will see $5.50 - $6 per gallon.

Maybe regulating the markets more effectively might be the answer do you think?


So you would like to see the price of gas drop it sounds like. Why do you think that would be a good thing?

Originally posted by UberL33t
I see stories like this (posted today), note the portion I bolded:

Shell profits rise on high oil prices

LONDON—Energy giant Royal Dutch Shell said Thursday that net profits climbed almost 16 percent in the first quarter, boosted by "strong" oil prices and rising output. Europe's biggest oil company announced that adjusted earnings after tax, which strip out movements in the value of energy inventories and other non-operating items, jumped to $7.28 billion in the three months to March 31.

That compared with $6.29 billion in the first quarter of 2011, and comfortably beat market expectations of $6.75 billion according to analysts polled by Dow Jones Newswires. Total sales increased by nine percent to $119.92 billion in the reporting period, while oil and gas production rose 1 percent to 3.552 million barrels of oil equivalent per day. Analysts had predicted output to fall 0.6 percent.

The better-than-expected results sent Shell's share price rallying by more than three percent in morning deals. "Shell's first quarter 2012 earnings increased from year-ago levels, through a combination of improved operating performance, increased upstream volumes and strong oil prices," said chief executive Peter Voser in the statement.

It's all a big game that we're all forced (more or less) to play.

edit on 4/26/2012 by UberL33t because: (no reason given)

Quote excerpt- " "strong" oil prices and rising output " Sort of makes the whole thing moot wouldn't you say?

Originally posted by doobydoll
What makes me angry is that when oil prices increase, fuel prices increase immediately or overnight at the pump. But when oil decreases in price, it takes a few weeks for it to show at the pump.

That's your local energy retailer who is solely to blame for that.

I believe there should be a retail energy transparency law where energy retailers must post their average ratios between their wholesale costs and retail prices per gallon.

reply to post by LilDudeissocool


At this point in the game, personally, I could not give a damn one way or the other.
Whatever happens, happens. As always, I will just adapt and carry on, knock me down I will get right back up.

Screw it all.

BTW: The central banking, is already here, and has been here for awhile now.

reply to post by Skewed


You think gas prices are not currently priced within a reasonable window, but you will just deal with the circumstances no matter what the prices might be in the future. Okay. I appreciate the feedback.

On the issue of central banking, we have a central bank present in the US which operates the USD, but it is not nationalized.

It is comprised of private member banks, a system, or consortium rather. The UsG is an honorary 5th partner, but only has the power to appoint it's director which is always suggested by the banking and energy lobby.

"Hey, we like this guy." And it is done, appointed and confirmed.

The central bank has its Discount Window primarily fed by energy revenue. Big energy is big banking and is the FED.

The FED doesn't print money out of nothing which is a popular abstract belief, a myth, with no definite-s ever explicitly explained on how it's exactly done by pseudo macro economic media mouths, book writers, politicians etc, but I will. They, energy producers, control the supply of oil on the open market and thus the value of the USD.

It's real simple, and I would write a book on it, but I have a confidentiality agreement I signed as thick as the Holy Roman Bible that says I can never ever write such a book :speak publicly to a mass audience nor comment in any venue where media or any people of influence is present about such matters.

I can here though in this lil corner of the internet world.

reply to post by LilDudeissocool


Then tell all.
Enlighten us, OB 1.

Although I am not sure how the confidentiality agreement is exempt here, unless it specifies you are allowed to only tell ATS and no one else. Either way, if you do say something here and it is found out that you did it, I am sure the hammer will fall on your head.