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Archive for Sunday, February 19, 2012

Gas prices highest ever for this time of year

February 19, 2012

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NEW YORK — Gasoline prices have never been higher this time of the year.

At $3.53 a gallon, prices are already up 25 cents since Jan. 1. And experts say they could reach a record $4.25 a gallon by late April.

“You’re going to see a lot more staycations this year,” says Michael Lynch, president of Strategic Energy & Economic Research. “When the price gets anywhere near $4, you really see people react.”

The surge in gas prices follows an increase in the price of oil.

Oil around the world is priced differently. Brent crude from the North Sea is a proxy for the foreign oil that’s imported by U.S. refineries and turned into gasoline and other fuels. Its price has risen 11 percent so far this year, to around $119 a barrel, because of tensions with Iran, a cold snap in Europe and rising demand from developing nations. West Texas Intermediate, used to price oil produced in the U.S., is up 4 percent to around $103 a barrel. That’s 19 percent higher than a year earlier.

Higher gas prices could hurt consumer spending and curtail the recent improvement in the U.S. economy.

A 25-cent jump in gasoline prices, if sustained over a year, would cost the economy about $35 billion. That’s only 0.2 percent of the total U.S. economy, but economists say it’s a meaningful amount, especially at a time when growth is only so-so.

Comments

classclown 2 years, 1 month ago

Jane (anonymous) replies…

What about Mass Street? Isn't it a highway? Seems I remember they closed down the 'adult' store on Mass using the fact that it is a highway, and thus not allowed. I could be wrong, please advise. February 19, 2012 at 10:39 p.m.

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I believe the opposite is true. If memory serves, in an effort to get rid of that store, the city made an ordinance that those types of stores must be limited to highways and then told them they had to go after that business had already been established at that location.

Mass street is not a highway therefore, no naughty businesses.

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its_just_math 2 years, 1 month ago

Why isn't Obama addressing this problem? Why is the Obamamania media avoiding any possible linkage to Obama's policies?

Why heck, this whackjob from Linwood observed this several weeks ago.....

Then, the moderators shut off the comments on the piece. Go figure?!

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its_just_math 2 years, 1 month ago

Why isn't Obama addressing this problem? Why is the Obamamania media avoiding any possible linkage to Obama's policies?

Why heck, this whackjob from Linwood observed this several weeks ago.....

Then, the moderators shut off the comments on the piece. Go figure?!

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Flap Doodle 2 years, 1 month ago

Everybody buy a Volt! We can keep warm by standing near them when they explode into flames.

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jayhawklawrence 2 years, 1 month ago

You can't drill your way out of this. We have to start transitioning away from a fossil fuel based economy.

Bush couldn't do and Obama can't do it either.

Big Oil has a strangle hold on the US Congress.

Expect a lot of propaganda about how paying $5 a gallon is a good thing.

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tomatogrower 2 years, 1 month ago

It is Obama's fault. His policies are digging us out of the mess that Bush left, and it's not what the conservatives wanted. The oil companies want him out as president, so they hike up prices to make the economy worse. In the meantime they make even more money. A win-win situation for them.
Of course, since Iran is going to cut off Europe, then prices are naturally going up. That is if capitalism really works in the oil business, which it doesn't.

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ibroke 2 years, 1 month ago

There are just too many variables involved to lay this mess at Obama's feet------ well then it must be bush's fault because it is never obama's fault

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Mixolydian 2 years, 1 month ago

There are just too many variables involved to lay this mess at Obama's feet, but no matter which political party you fall under, you have to look warily at an administration that has deemed high energy prices to be a laudable goal in the interest of promoting conservation.

The high price of gas is bad enough, but what it does to the price of everything else is what's really damaging. Forget the price of a gallon of gas and look at the price of a gallon of milk over the past 2 years. The price of all food. The price of absolutely anything that's transported. Our dollar has been weakened by our out of control debt and bond rating reduction and that's just piling on to this inflation.

Inflation and a much higher unemployment rate than is actually being reported is kiling us. The stagnation of the late 70's is preferable to these conditions.

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its_just_math 2 years, 1 month ago

Richard Cloward and Frances Fox Piven are very proud of The Anointed One.

"The Cloward–Piven strategy is a political strategy outlined in 1966 by American sociologists and political activists Richard Cloward (1926–2001) and Frances Fox Piven (b. 1932) that called for overloading the U.S. public welfare system in order to precipitate a crisis that would lead to a replacement of the welfare system with a national system of "a guaranteed annual income and thus an end to poverty". Cloward and Piven were a married couple who were both professors at the Columbia University School of Social Work. The strategy was formulated in a May 1966 article in left-wing[1] magazine The Nation entitled "The Weight of the Poor: A Strategy to End Poverty".[2]"

"The two were critical of the public welfare system, and their strategy called for overloading that system to force a different set of policies to address poverty. They stated that many Americans who were eligible for welfare were not receiving benefits, and that a welfare enrollment drive would strain local budgets, precipitating a crisis at the state and local levels that would be a wake-up call for the federal government, particularly the Democratic Party, thus forcing it to implement a national solution to poverty."

"... particularly the Democratic Party..."

Did you catch that?

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FalseHopeNoChange 2 years, 1 month ago

"New America" needs The Obama. They desperately need him. Well, at least half of New America needs him. The half with skin in the game, (federal taxpayers)... not so much.

The Obama and his accomplice, the most beautiful first lady to date. Have pretty much spent all of our "stash" and then some. He and her have even spent the "stash" of the growing number of children wanting "sex change" .

What a guy and gal.

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its_just_math 2 years, 1 month ago

No matter how far this disaster of a president takes America down the road of destruction, his highly disciplined devotees will take up for him.

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ibroke 2 years, 1 month ago

i would rather have Carter in office he was a much better president!

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beatrice 2 years, 1 month ago

I've noticed that the group that whines the loudest about how government shouldn't be in the position of taking care of us are now the first to whine that the government should be taking care of us by making sure we have access to cheap gasoline.

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its_just_math 2 years, 1 month ago

This comment was removed by the site staff for violation of the usage agreement.

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Floyd Craig 2 years, 2 months ago

well its so odd that lawrence gas prices is high when topeka is less lawrence gas is 3.47 a gal in topeka they are 3.25 a gal so why is it that the lawrence gas stations charge more when topeka is less it dosent take much gas to drive to topeka to buy gas gees lets all got o topeka and get our gas to drive on plus get out of lawrence for a little while plus I have found out that sales tax in overland park is cheaper then lawrence sales tax is our town money hungery here the city hall is cutting our throats

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Norma Jeane Baker 2 years, 2 months ago

I'm paying roughly $5 a gallon for gas. Our oil comes from Venezuela so can I blame Chavez?

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yourworstnightmare 2 years, 2 months ago

Don't like high gas prices? Don't buy gas. Walk.

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its_just_math 2 years, 2 months ago

Nothing bad is The Anointed One's fault. Kool-Aid by the tanker load is now being served. Step right up.

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tange 2 years, 2 months ago

Looks like math's trotting out all his golden oldies, no matter how irrelevant they are.

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tange 2 years, 2 months ago

Looks like math's trotting out all his golden oldies, no matter how irrelevant they are.

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Flap Doodle 2 years, 2 months ago

Looks like merrill's trotting out all his golden oldies, no matter how impractical they are.

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beatrice 2 years, 2 months ago

If anyone thinks that gasoline will forever be cheap should have their head examined. It is a finite resource that is growing in demand. Certainly, if John McCain was in office today does not mean we would be enjoying inexpensive gasoline. Gas prices rose and fell under Bush, under Clinton, under Bush, under Reagan, under Clinton ...

Or, too bad Michelle Bachmann is already out of the race for President. She promised $2 a gallon gas!

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Gandalf 2 years, 2 months ago

Oddly enough the rise in gas prices co-incides with Obamas rise back to 50% in popularity polls. Surely bushco's oil buddies wouldn't want Obama to take popularity hit because of rising fuel price could they?

I did notice that diesel is still at 2.99 today. Guess it's a selective rise.

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Liberty_One 2 years, 2 months ago

Sigh. The price of gas isn't going up. The value of your dollars is going down. The government steals our wealth, secretly and unobserved, via inflation--that is, making more dollars and spending them, causing the existing money to lose value.

What's sad is that this is the stated GOAL of Keynesian, that is, mainstream, economics. They are doing this on purpose to "help" us. The idea is to trick everyone into thinking they are just as wealthy while secretly stealing the people's wealth and having the government spend it in the silly idea that spending more money will make the economy better.

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Kirk Larson 2 years, 2 months ago

Since the republicans have nothing else to offer, it would not surprise me if they asked their Big Oil masters to raise prices through speculation to create a talking point for the election year and to slow down economic growth that hurts their numbers.

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deec 2 years, 2 months ago

Record profits nearly every quarter for a decade or more might have something to do with gas prices, as might speculation in oil markets.

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tomatogrower 2 years, 2 months ago

Of course the oil prices are going up. The economy is improving. The oil companies can't have that. How else will they get their man in the White House?

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Richard Heckler 2 years, 2 months ago

KDOT might want to think commuter train service instead of new highways = better bang for the tax buck.

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Chris Golledge 2 years, 2 months ago

Looking at the bigger picture, which is more expensive?

a) Driving out to a field in Pennsylvania or Texas and drilling a well. b) Drilling for oil from a platform floating a couple of miles above where the hole starts.

Why are there offshore platforms?
It has something to do with the fact that easy oil from Pennsylvania and Texas is mostly gone.

At the same time, population in the US has about doubled since Pennsylvania was a major oil-producing state, and, as noted, demand for petroleum from other parts of the world has increased a lot.

There is a finite amount of oil on the earth, and we are using it up faster than it is being made. Easy to access fields are dwindling, it is becoming more expensive to extract, and the demand is going up; no one in their right mind should expect the price to not go up. There is nothing that any individual or political party can do to change those basic facts.

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Richard Heckler 2 years, 2 months ago

""Not allowed on highways( Iowa,6th and 23rd) That's where all the stores are."

Laws allow for crossing those streets and there are many ways to get there. I've done it on my bicycle. This town is easy to get around while avoiding the fast moving roadways.

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JackMcKee 2 years, 2 months ago

Am I the only one that sees Merrill's name on a post and just scrolls past it as soon as possible?

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its_just_math 2 years, 2 months ago

Cap & Trade in a potential and America-ending second Obama term?

"Under my plan of a cap and trade system, electricity rates would necessarily skyrocket."

Barack Hussein Obama

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BornAgainAmerican 2 years, 2 months ago

“Somehow we have to figure out how to boost the price of gasoline to the levels in Europe,” said Steven Chu — the man Barack Obama would ultimately tap to be energy secretary — in September 2008. He was explaining to The Wall Street Journal that higher energy prices are the centerpiece of the Left’s energy overhaul. Well, I don’t know if they’ve figured out the Euro-boost yet, but we are halfway to Vienna.

http://thenewamerican.com/opinion/selwyn-duke/7397-barack-obamas-seven-dollar-a-gallon-gas-ambitions

The Obama War on Energy is succeeding. Bans on domestic drilling, failure to approve Keystone, EPA regulations, proposed emission taxes, etc, etc, etc.

Oh wait...let's keep throwing money at cronies who run failed alternative energy companies like Solyndra. That'll satisfy the far left extremists and make our friends happy.

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its_just_math 2 years, 2 months ago

Change we can believe in. New direction. Yes we can. FUNdamental transformationalizationing.

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classclown 2 years, 2 months ago

merrill (anonymous) says…

Shopping/errands methods...

  1. Street ready electric golf carts to do shopping and pay bills. Coolers would be great companions that which are secured with straps. Not allowed on highways( Iowa,6th and 23rd)...

February 19, 2012 at 4:36 a.m.

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"Not allowed on highways( Iowa,6th and 23rd)"

That's where all the stores are.

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Cant_have_it_both_ways 2 years, 2 months ago

Fuel was at $1.85 a gallon with Obama took office.

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tange 2 years, 2 months ago

“You’re going to see a lot more staycations this year....”

Whoa, I am totally out of the loop. Has playstation been supplanted?

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Number_1_Grandma 2 years, 2 months ago

We have excess oil in reserves. It's the greed to sell oil at record prices for record profits that's the problem. Take oil off the commodities market. We should not be exporting any of our oil. Make manufacturers of autos who want to keep corporate welfare ( subsidies ) to sell only natural gas autos here is US like they do in Europe to keep the subsidies. Quit being so depended on Canadian oil, Mexico oil and lastly Saudia Arabia oil lastly. Check the facts people. Google it and find out how the politicians have duped us into believing the lies!!

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FalseHopeNoChange 2 years, 2 months ago

The key for The Obama is to continue the drilling ban. Old America used to drill 10 million barrels of oil a day on the continent. New America is at 7 million. Banning Keystone and drilling bans in the Gulf are a good start for his Jihad.

Ride the T

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Scott Morgan 2 years, 2 months ago

Slippery slope we are heading down. Many companies small and large use increased fuel costs to push in extra boosts in revenue beyond the true cost.

Translation: Here comes inflation. Better, why is a green pepper costing 2 bucks mommy?

Please before we here all of us need to crowd in a stinky bus, remember farmers, folks living rural, and last but not the least the small independent person who must drive to make a living.

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Richard Heckler 2 years, 2 months ago

And tune up the vehicles plus keep tires inflated at psi suggested inside the driver side door.

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Richard Heckler 2 years, 2 months ago

Shopping/errands methods

One big idea: Less demand for oil around the world = less war

For everyday errands:

  1. Start walking to do shopping and pay bills. Bike trailers that convert to strollers would be a smart companion. Or used baby strollers

  2. Bike to do shopping and pay bills. Bike trailers would be a smart companion

  3. Street ready electric golf carts to do shopping and pay bills. Coolers would be great companions that which are secured with straps. Not allowed on highways( Iowa,6th and 23rd)

  4. Small fuel efficient vehicles = the most expensive choice

  5. Public Transportation

Notice fuel prices never return to previous lows. Instead keep inching higher and higher.

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FalseHopeNoChange 2 years, 2 months ago

Big deal. This is Bush's fault anyway. Rove is telling Rummy to tell Cheney to tell his Big Corporate oil pals in Saudi Arabia to jack up prices for the election.

Take the T.

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