Gas Price Prophesy

[G-Papi]

I think GW must have bought a CX-7.

Gas prices started going down shortly after they became available, and their gas mileage and premium requirements became a concern.

Some people think that the gas prices are tied to Bush'd approval rating and the upcoming mid-term election.

Here's your chance to be the prophet.

What do you think will happen to gas prices after the November elections?

[sephiroth]

Not only is gas down, the dow jones is on the verge of breaking a 40year record high, unemployment is as low as it's ever been in 30 years.. and despite every news media's best attempts to make bush look bad, (the NYT was even trying to find ways of how lower gas is BAD and can cause inflation.. i laughed so hard I started to cry) the economy is stronger than it's been in decades, the 15% increase in net revenue has cut back the deficite dramaticly, no one expected that..welfare use is down significantly..the republicans are doing something about immigration (albet slowly.. but you can't please everyone, no matter what)

i think it's here to last acutaly, lots of voter polls show strong republican favor, which shows that people acutaly know what's going on with the democrats, and that the "surrender now, and run" technique that they want to use with the war just isn't what most american's want... people acutally realize that the democrats in power of the house would be a very bad thing. Most importantly though, people (thank god) are starting to realize how socialist hillary really is..

[Donas64]

Not only is gas down, the dow jones is on the verge of breaking a 40year record high, unemployment is as low as it's ever been in 30 years.. and despite every news media's best attempts to make bush look bad, (the NYT was even trying to find ways of how lower gas is BAD and can cause inflation.. i laughed so hard I started to cry) the economy is stronger than it's been in decades, the 15% increase in net revenue has cut back the deficite dramaticly, no one expected that..welfare use is down significantly..the republicans are doing something about immigration (albet slowly.. but you can't please everyone, no matter what)

i think it's here to last acutaly, lots of voter polls show strong republican favor, which shows that people acutaly know what's going on with the democrats, and that the "surrender now, and run" technique that they want to use with the war just isn't what most american's want... people acutally realize that the democrats in power of the house would be a very bad thing. Most importantly though, people (thank god) are starting to realize how socialist hillary really is..

+1

[Donas64]

GW and the republicans don't control gas prices. Did you hear Hugo Chavez say that if the U.S ever attacks Him, Oil will sell for $200 a barrell?

[G-Papi]

Oh, the questions are endless . . Are the gas prices being manipulated to improve the approval rating?
It doesn't cost fifty cents less than it did a month ago to stock and refine gas. Isn't this price swing all a matter of price speculation? If we were being screwed by speculators .50/gallon ago, should that make us feel better that we're not being screwed tonight?

[sephiroth]

Oh, the questions are endless . . Are the gas prices being manipulated to improve the approval rating?
It doesn't cost fifty cents less than it did a month ago to stock and refine gas. Isn't this price swing all a matter of price speculation? If we were being screwed by speculators .50/gallon ago, should that make us feel better that we're not being screwed tonight?
there are a couple of groups that control the price of oil based on the same marketing prinicpals as the stock market, when natural disasters and wars happen prices go up as they anticipate a shortage.. the only problem is that not only has the war and hurricanes brought higher prices, but more third world countires are becomming more industrial, increaing global oil demand.

[ZoomZoomH]

i don't know who's gonna win come november, however i just filled up my 8 w/ premium at $2.19 a gallon, that's prices i haven't seen in years

[cruzdreamer]

Maybe a little of all these factor into the equation or maybe none! I heard it will get down to about $2.20 here in Illinois and stay there for awhile. I think they were training us.....now we think $2.20 is good, whereas, before we would have said that was high!! I think we got away with good gas prices for a long time in comparison to other countries.
On another note....keep your fingers crossed for me....I have a buyer trying to secure financing on my RX 8 and hope to hear something tomorrow. He's buying it for his brother who has only been in the country 2 years. He's Asian. He is using State Farm as his lender..... I never realized they did loans. Does it take a day or two to get an approval? I gave info. to his lender around 1:30pm today and have not heard if he has been approved. I am just worried....I want to get my next Mazda....preferably the CX 7 of course!!!

[sephiroth]

Maybe a little of all these factor into the equation or maybe none! I heard it will get down to about $2.20 here in Illinois and stay there for awhile.
i heard it was heading twoard $1.20-1.30..

[CX7_Scott]

I just perfected an engine that runs off-of salt water, it uses... hold on... I think I hear someone at my.......

dsaoifertjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjj jjjjjjjjjjjjjjjjjjj

[sephiroth]

I just perfected an engine that runs off-of salt water, it uses... hold on... I think I hear someone at my.......

dsaoifertjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjj jjjjjjjjjjjjjjjjjjj
LOL (evil)

[G-Papi]

Preliminary results seem to say that the election won't influence prices, and that prices will go back up regardless.

[Snacks McGee]

i heard it was heading twoard $1.20-1.30..

That's never going to happen.

[mixmasterlove]

In NY 93 octane is $2.98

[sephiroth]

That's never going to happen.
never say never.

[G-Papi]

2.63 Premium in central Virginia
2.50 if you really hunt

[singlemalt_18]

To the extent that the people we elect to represent us actually do... I think prices could come down. In terms of supply & demand there are lots of things that could help.

If a republican congress would ease the EPA restrictions requiring 50 different gasoline blends across the country, to make the flow of refined products less restrictive, this could help reduce the cost per gallon. These restrictions were temporarily lifted after Katrina...

The democrats, and thereby the entire country are being held hostage by the radical enviro-weenies. They need to stop preventing new drilling in ANWR, off the East coast, off the west coast, and off of florida. It is ridiculous that the enviro-weenies are against EVERYTHING!!! You name it they OPPOSE it...mining, drilling for oil & gas, building new power plants - nuclear and other. They are even against windfarms beacause it can kill birds for cryin out loud... here in western PA, they wild turkeys are now in such numbers, that you find them dead on the road along with the dead deer!

I just saw a story this morning on the biggest natural gas find ever in Wyoming. Some small former "hicktowns" are now beginning to thrive and grow. The schools have more money than ever form the growing tax base. But some old retired amatuer astronomer is having difficulty seeing some distant galaxies, so he wrote Dick Cheney and told him its needs to stop... no kidding!

Yes, I think energy prices could be lower if certain progress could be made on this front.

[spike blue]

i heard it was heading twoard $1.20-1.30..
(omg) THAT WILL BE NICE!!!

[lasermp5]

premium at $2.19 a gallon

(omg)

[G-Papi]

(bump)

[G-Papi]

I believe two things about the gas price swing ~
1. Prices were kept artificially high after Katrina to twist consumers' arms to encourage Alaskan Wildlife Preserve production. and
2. Prices are dropping to lull voters into a fat and happy satisfied mode prior to the November Election.

There's a direct-connect between gas prices and Bush approval ratings. Once the objective is accomplished (the election), it will be back to "screw the consumer as usual".

[sephiroth]

(omg) THAT WILL BE NICE!!!
it's already down to 1.95 regular here.

in any case, it's gone from us average of $3 per gallon to $2.40 in less than a month.

[G-Papi]

We're still getting shafted in central Virginia. 2.50 is the lowest premium I can find.

[ZoomZoomH]

2.25 premium last saturday

[Donas64]

I believe two things about the gas price swing ~
1. Prices were kept artificially high after Katrina to twist consumers' arms to encourage Alaskan Wildlife Preserve production. and
2. Prices are dropping to lull voters into a fat and happy satisfied mode prior to the November Election.

There's a direct-connect between gas prices and Bush approval ratings. Once the objective is accomplished (the election), it will be back to "screw the consumer as usual".

Yes its true that gas prices influence the Presidents approval ratings but

1. Bush does not control gas prices. Anyone who thinks he does knows nothing about economics and the principles of supply and demand.

2. Anyone who knows anything about this President knows that he does not give two farts about approval ratings or poll numbers.

There are things (the war, OPEC, lack of refining capacity, hurricanes) that impact the price of oil. The price of oil could go up after the elections, it could continue to drop. No one really knows

[singlemalt_18]

I believe two things about the gas price swing ~
1. Prices were kept artificially high after Katrina to twist consumers' arms to encourage Alaskan Wildlife Preserve production. and
2. Prices are dropping to lull voters into a fat and happy satisfied mode prior to the November Election.

There's a direct-connect between gas prices and Bush approval ratings. Once the objective is accomplished (the election), it will be back to "screw the consumer as usual".

G-Papi - While I can empathize, and understand your cynicism, I must agree with Donas64. Currently, it is the WORLD price of oil that has come down to ~$60/bll from near $80 some weeks ago. Major producers in the world supply include Russia & Venezuela, along with Iran & Nigeria - unfortunately we are dependent on these 3rd world countries for alot of the world supply. The oil companies just get it out of the ground & bring it to market.

Also, if you look at domestic gasoline prices over the past 20 years, you will find that they ALWAYS decline between september & november - simple supply & demand, along with the fact that the winter blends do not cost as much to refine.

As for the politics of it all, I think it is a case of "Live by the Sword; Die by the Sword" for the Dems. To the extent that they wanted to blame Bush for the rising prices, is the extent that he now gets some political benefit from prices going down. Politicians aren't the brightest bulbs in the room; if they were smart enough to understand financial markets, as well as historical trends... in other words - if they were even smart enough to know what they don't know - they might not always need to hope for things to go wrong to win elections.

One thing is for sure... gas prices have come down fast enough to make one dizzy. We are at about $2.35 for reg, and about $2.55 for 93 octane here in Pittsburgh.

[Donas64]

G-Papi - While I can empathize, and understand your cynicism, I must agree with Donas64. Currently, it is the WORLD price of oil that has come down to ~$60/bll from near $80 some weeks ago. Major producers in the world supply include Russia & Venezuela, along with Iran & Nigeria - unfortunately we are dependent on these 3rd world countries for alot of the world supply. The oil companies just get it out of the ground & bring it to market.

Also, if you look at domestic gasoline prices over the past 20 years, you will find that they ALWAYS decline between september & november - simple supply & demand, along with the fact that the winter blends do not cost as much to refine.

As for the politics of it all, I think it is a case of "Live by the Sword; Die by the Sword" for the Dems. To the extent that they wanted to blame Bush for the rising prices, is the extent that he now gets some political benefit from prices going down. Politicians aren't the brightest bulbs in the room; if they were smart enough to understand financial markets, as well as historical trends... in other words - if they were even smart enough to know what they don't know - they might not always need to hope for things to go wrong to win elections.

One thing is for sure... gas prices have come down fast enough to make one dizzy. We are at about $2.35 for reg, and about $2.55 for 93 octane here in Pittsburgh.

Very good post. Anyone who drives a car that takes premium gas should be jumping for joy right now. Get out your jerri cans and start stockpiling that stuff!

[Kansei]

i don't know who's gonna win come november, however i just filled up my 8 w/ premium at $2.19 a gallon, that's prices i haven't seen in years

I hate you.. I just filled up my P5 yesterday at 3.06 a gallon.

[G-Papi]

Premium here at 2.40 today.

[G-Papi]

Yes its true that gas prices influence the Presidents approval ratings but

1. Bush does not control gas prices. Anyone who thinks he does knows nothing about economics and the principles of supply and demand.

2. Anyone who knows anything about this President knows that he does not give two farts about approval ratings or poll numbers.

There are things (the war, OPEC, lack of refining capacity, hurricanes) that impact the price of oil. The price of oil could go up after the elections, it could continue to drop. No one really knows

If this is a market economy, then what has happened since August 17, 2006 to bring premium gas prices from an average $3.24 down to an average $2.61 on September 25th?

The war(s) have not gotten anything but worse; there have been no storm impacts, and none predicted; the Alaska pipeline is still an issue.

The only major incident is the approaching political confrontation brought about by the mid-term elections.

I know that, even though he is an "oil guy", Bush can't arbitrarily adjust oil prices. But somebody can. Those somebodies are usually in the form of producers and speculators.

Don't you get the feeling that those somebodies envision more republican losses if approval ratings stayed at the levels of a month ago. Perhaps they envisioned losses of republican and conservative seats in Congress. If they could manipulate the prices to ease some dissatisfaction in the short term, perhaps they could increase their profits in the long term. These guys aren't stupid. To them, profit is the bottom line.

[G-Papi]

Have prices bottomed out?

[Donas64]

This Just In: For those that think "George Bush" controls gas prices, here is further proof that he has little or no influence over them:

There are rumblings that OPEC is considering slowing production by about 4% to drive prices up again. If you want to blame someone for gas prices you can start with them.

I think that it's kinda funny that when prices are high GW gets the heat and no one talks about OPEC. I wonder if they will get some attention now.

http://www.theglobeandmail.com/servlet/story/RTGAM.20061005.wopec1005/BNStory/Business/home

Heck just google "Opec to cut oil production and read the news stories for yourself.

BUSH DOES NOT CONTROL GAS PRICES

The UAE, OPEC, HUGO CHAVEZ e.t.c have MUCH more of an Impact than G-DUB

[Donas64]

Gas here in VA is down to $1.99

[cruzdreamer]

In Illinois it's down to $2.23-$2.39 regular. My 2nd fill up was similiar to first with 20.5 mpg city.

[Kansei]

Gas here in VA is down to $1.99

duuuuude. I paid 3.09 a day or two ago here :( (.90 for regular). I need to go back to getting my gas in the hood instead of the glitzy suburb where my office is :P

[Donas64]

duuuuude. I paid 3.09 a day or two ago here :( (.90 for regular). I need to go back to getting my gas in the hood instead of the glitzy suburb where my office is :P


You sure do! Kroger has gas here in my town for $1.99

[G-Papi]

Still slowly going down here

[G-Papi]

First phase of prophesy fulfilled. In today's news conference, G.W. Bush, in speaking of why Republicans should be reelected, said, ". . . gas prices are down . . ".

He certainly can't control them, but he doesn't mind taking credit for them when they decrease.

The pricing is political to him.

[Donas64]

First phase of prophesy fulfilled. In today's news conference, G.W. Bush, in speaking of why Republicans should be reelected, said, ". . . gas prices are down . . ".

He certainly can't control them, but he doesn't mind taking credit for them when they decrease.

The pricing is political to him.


Hey the media and the Dems are quick to bash him and toss him under the bus when the prices rise sky high. You think it's not political to them?

He'd be a fool not to take some credit when the prices come down.

He takes a beating when they go up, he takes the credit when they come down.

[Kansei]

just because he doesn't dserve the "beating", doesn't mean he should be taking any credit when prices come down.

He has created quite a bit of unrest in the middle east.. and with unrest comes higher prices, so yeah that's kinda a problem.

[Donas64]

just because he doesn't dserve the "beating", doesn't mean he should be taking any credit when prices come down.

He has created quite a bit of unrest in the middle east.. and with unrest comes higher prices, so yeah that's kinda a problem.


Using your logic then, since things are going absolutely dreadfully in Iraq, Gas should be like $10 a gallon.

How would you explain gas prices going down? Supply and Demand? Opec? The rhetoric of Irans president or that slimeball Hugo Chavez?

I say if you take the blame for things going wrong, then you deserve some of the credit when they go right. What goes around......

[Blade4804]

Gas prices started coming down when they discoverd this huge oil deposit off of the coast of louisiana... maybe just a coincidence

[G-Papi]

The average price of a gallon of regular in 2001 was about $1.66. After six years of instability in the middle east, and speculative gouging in the $3.00 range, we should feel oh, so grateful that prices are "down" now to about $2.00. So grateful, in fact, that we should return these crooks to office?

[MakeMeGoFast]

my opinion on the matter.........I like driving my car, driving fast, and drving often. I'll deal with the prices as they come.

[Donas64]

The average price of a gallon of regular in 2001 was about $1.66. After six years of instability in the middle east, and speculative gouging in the $3.00 range, we should feel oh, so grateful that prices are "down" now to about $2.00. So grateful, in fact, that we should return these crooks to office?

Even though Bush isn't up for re-election, a Republican will probably win the white house again in 08 just for the pure fact that most Dems in politics spend to much time whining and moaning about how evil Bush and Co. are and forget to put their agenda and plans on the table. But thats a conversation for another time.

Gas prices are what they are, and as long as we want to keep driving, we'll keep paying. When we've decided we've had enough, we'll stop buying and the prices will come down again.

[singlemalt_18]

First phase of prophesy fulfilled. In today's news conference, G.W. Bush, in speaking of why Republicans should be reelected, said, ". . . gas prices are down . . ".

He certainly can't control them, but he doesn't mind taking credit for them when they decrease.

The pricing is political to him.

Sure its political to him - BECAUSE ITS BEEN TURNED INTO A POLITCAL FOOTBALL BY THE OPPOSITION!

Should he just stand there and ignore it? ...A month before an election that if the dems had it their way, they would make everyone believe that all republicans are child molestors, and Barney Frank is just Barney?

The economy has been brought back from the brink after the Y2K over-reaction followed by 9/11, the economy is booming, the markets are at multi-year & all time highs, 4.6% unemployment is near a historical low, last week the IRS reported record quarterly TAX REVENUES, and today it was annouced that the deficit is at a four year low (only 2% of GDP), AND THE PRICE OF GAS HAS BEEN GOING DOWN & NOT UP!

AND - We all have new CX-7s ...aahhhhh, life is good.

[singlemalt_18]

The average price of a gallon of regular in 2001 was about $1.66. After six years of instability in the middle east, and speculative gouging in the $3.00 range, we should feel oh, so grateful that prices are "down" now to about $2.00. So grateful, in fact, that we should return these crooks to office?

In 2001, oil was $20 a bbl. Today it is nearly 3X at ~$60 thanks in part to the growth in demand (not to mention the real polution), in India & China.

$1.66 X 3 = $4.98 ...hmmmmm, maybe the big oil companies aren't doing such a bad job either.

In 1984 Amoco 94 was $1.32 a gallon. 15-16 years later, in 1999-2000, premium was STILL about $1.32 a gallon. That means the price of gas was actually FALLING during those years. That was under REAGAN, BUSH 1, and CLINTON, just for the record. At 3% annual inflation, gas should be $5.00 a gallon today if the price had remained the same.

The simple truth is, the prices of oil and its distillates are controlled by supply & demand, and nothing more. Below is a link to an excellent piece from Bloomberg, dated October 11th. In all its detailed discussion about the current state of oil prices, you will not find a single reference to President Bush, or "crooks in Washington"... they do however dicuss militant attacks in Nigeria, disagreement among OPEC members, and oddly enough, how Venezuela is breaking existing supply contracts. Boone Pickens still thinks higher prices are coming back, but he seems to be in the minority. It is an enlightening read for anyone wishing to truly understand what is effecting the price of oil.

http://www.bloomberg.com/apps/news?pid=20602099&sid=aNYRSHiXuakk&refer=energy

[Kansei]

When we've decided we've had enough, we'll stop buying and the prices will come down again.

sadly since we all enjoy the "zoom-zoom", we'll be the last to stop buying. Hell, when gas prices were hitting 4 dollars a gallon I bought an MP3 ECU which forced me to use premium fuel lol.

I'm just patiently waiting for electric cars or hydrogen :)

[Donas64]

sadly since we all enjoy the "zoom-zoom", we'll be the last to stop buying. Hell, when gas prices were hitting 4 dollars a gallon I bought an MP3 ECU which forced me to use premium fuel lol.

I'm just patiently waiting for electric cars or hydrogen :)

Curse you and your addictivness zoom zoom! Curse you to heck! :)

[G-Papi]

To zoom, or not to zoom; that is the question.

[Platonium]

Something nobody here has mentioned is that BP had BIG problems with the Alaska pipeline and had intermittent shutdowns on thier largest field to fix the pipe. Prices soared higher artificially on speculation. This was only a couple months after katrina when the problems begain...they hit full newsworthyness in June of this year. Originally, it was to take 6 months to repair, but, after only 3, they are back to full capacity. The speculators leave the market and you get a more representative price.
If you look at the Middle East situation, iraq may hate us (for occupying them), but the Saudis, UAE, Qatar (the worst human rights violators in the world today), and even Afghanistan are all deep into our pockets.
Does the White House control gas prices? No. Absolutely not. Do they send aid and protection to all the countries that supply us oil? Hmmmm. You bet they do. I'll leave it to you to draw the lines, but Condoleeza Rice has spent a lot of time in OPEC nations, lately.
And, someone here already wrote it, but if we standardized the gas formulation or at least streamlined it, we would see an immediate decrease in price. Not because one is worth more than another, but production and distribution become a bulk process with inherent efficiencies in cost. But, our impotent polititcians (from both wings) could care less because nobody in big oil is lining their pockets to change. Record profits ensure that nobody producing, refining or selling any petrolium product is going to do any changing for the near future.
As for American consumers, there is a stat from a show called Autoline Detroit that shows September-October sales of Hybrids have fallen precipitously...8%! Large trucks and SUV sales have increased in the same period by 4% to estimates and 10% over last year in the same period. We have short memories as oil consumers and THAT will ultimately drive prices up again. My prediction, a national average that will seldom drop below 2.60 per gallon regular beginning next summer.

[G-Papi]

Gas price for regular just went below $2 around here. I believe I've got to agree with Platonium about the 2.50 figure.

[Kansei]

Gas price for regular just went below $2 around here. I believe I've got to agree with Platonium about the 2.50 figure.

Gotta keep the prices down so that us americans keep buying big burly man pickup trucks.. oh and to stop funding for research into alternative fuels.

I'll only be happy when I have a hydrogen rotary car.

[G-Papi]

Anybody seeing any changes yet?

[1st Gen]

Yea, Rummy's gone:)

[G-Papi]

Yea, Rummy's gone:)
I'm gonna miss him. I understood him. He was so simple. Now I've got to learn the tactics of somebody with some intelligence.

Back to gas prices now!

[RODSCALIP5]

Anybody seeing any changes yet?

Yes, out here in So. Cal, Gas was $2.11 on Monday, this morning it was $2.17 with rumors that it will go up by 40 cents by the end of the week.

[cruzdreamer]

Prices went up here in Illinois.

[singlemalt_18]

Sorry guys, I just can't pass up on the opportunity to throw a little water on the conspiracy fire. We drive Mazdas, and THE MARKETS drive oil prices. Here is a headline from today:

SAN FRANCISCO (MarketWatch) -- Crude-oil futures tapped a high above $61 a barrel Thursday for the first time in two weeks, buoyed by data showing a smaller-than-expected rise in U.S. crude inventories in the latest week, a fifth week of declining distillate supplies and growing expectations that major oil producers will follow through with a promise to cut output.

The "distillates" is code for gasoline, and "producers" is code for Iran, Nigeria, and Venezuela among others.

You can read the whole thing here:

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B525813EF%2D973F%2D4C5C%2DBB3E%2 D11A2AFEA1817%7D&siteid=bigcharts&dist=bigcharts

If George Bush & Dick Cheney would have just lowered the gas prices a little more, the Republicans would have won... but wait a minute, maybe the Dems are raising the price of gas now that they have won because they want to levy the "windfall profits tax" on those evil oil companies!!! They never met a tax they didn't raise.

[G-Papi]

There's alwasy an ostensible reason (never the same, either) for gas pricing. The fact that it's timed this way is just coincidental. . . . Like Rummy's 'resignation'.

[RODSCALIP5]

$2.25, a 14 cent increase and counting.

[G-Papi]

Gas is up 10 cents here since Nov 7th.

[Platonium]

Yeah, Prices here in west Michigan went up as well, but I STILL say it has nothing to do with the election results. It's not that I can't admit being wrong, although I've never had to, I just don't think the two are linked. :)

[Platonium]

By the way, the previous post was toungue in cheek. I know double entendre doesn't play well online. I'm wrong all the time. Just ask my wife.

[G-Papi]

I know what you mean. Prices seem to have stabilized here at about 12 cents highrt than election day. Just wait for Thanksgiving, and see if we don't get our goose plucked!

[CXseven]

SOCAL gas prices is creeping back up....2.69 (premium 91 octane)
and thats on a military installation (w/no tax)
last week it weas 2.49. On this corner, when it comes to gas prices, we get ripped (pissed).
election or no election, we still get ripped :bs: